A special court in Durg district in Chhattisgarh has accepted a closure report filed by police's Economic Offences Wing (EOW) in a 2017 case lodged against Chief Minister Bhupesh Baghel and his family members for alleged irregularities in a land allotment in an over two-decade-old housing scheme.
Congress leader Rahul Gandhi alleged on Friday that the government is "clueless" about the economy and said Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman should "steal" ideas from his party's Lok Sabha poll manifesto to tackle the "mess".
Former Prime Minister Dr. Manmohan Singh has joined the big debate centring around economic slowdown. Addressing a press conference in Mumbai, Manmohan Singh took on the BJP-led government in Centre and Maharashtra and blamed it for the current scenario in the country. Dr. Singh said, "From being No 1 in investment, Maharashtra has become No 1 in farmers' suicide."
Amid Economic slowdown, privately owned Parle Biscuits — a part of the Parle Products group — reported 15.2 per cent year-on-year (YoY) growth in net profit for financial year 2018-19 (FY19), two months after the company indicated that it would have to lay off people due to slowing growth and falling demand for entry-level biscuits. The company has also asked the government for a cut in Goods and Services Tax (GST).
It is important for India to keep fiscal deficit in check, even though its revenue projections look optimistic, Chief Economist of the International Monetary Fund (IMF) Gita Gopinath has said.
When "the economy going into a tailspin is the time when you don't worry so much about monetary stability and you worry a little more about demand, the demand is a huge problem right now in the economy," he said at a news conference at the Massachusetts Institute of Technology (MIT) in Cambridge on Monday after his prize was announced.
Did you know? Nobel laureate Abhijit Banerjee was the mind behind NYAY scheme of Congress' manifesto which it introduced for 2019 Lok Sabha elections.
Senior Congress leader Jairam Ramesh on Saturday took a dig at Union minister Ravi Shankar Prasad for linking the Indian economy's health with box office collection of three Bollywood films and said even China measures its economy on parameters like power, credit and freight.
In the United States and Germany, unemployment is at historic lows. Yet across advanced economies, including in the US, Japan and especially the euro area, there is a softening of economic activity, IMF chief said.
HSBC Holdings Plc is planning to cut up to 10,000 jobs 'high paid' as part of a major cost-cutting drive as interim Chief Executive Officer Noel Quinn is seeking to reduce costs across the banking group, according to Financial Times reports published on Sunday.
The Reserve bank of India (RBI) is expected to cut the key policy rate again for the fifth in a row on Friday to complement the government's measures like reducing corporate tax and promoting credit offtake to spur economic activity during the festive season amid range-bound inflation.
The Goods and Services Tax (GST) collections dropped sharply to a 19-month low of Rs 91,916 crore in September, mirroring a widening slowdown in economy triggered by shrinking consumer demand.
The FIR mentioned PMC Bank's now-suspended Managing Director Joy Thomas, Chairman Waryam Singh and other executives. It also mentions involvement of Sarang Wadhawan, the Vice Chairman and Managing Director of HDIL.
Rating agency ICRA on Thursday revised the outlook on construction equipment (CE) sector to 'negative', citing a sharp drop in unit sales amidst slowing economic growth.
A consortium of 14 public sector banks, led by the Bank of India on Friday initiated the process to recover staggering loans totally worth Rs 3,635.25 crore from a Mumbai-based defaulter, Frost International Ltd.
"To make the economy stronger, the government has taken all measures and I want to say that the fundamentals of the country's economy are strong. We are not in any crisis. Some reactions from non-banking financial companies (NBFCs) are there. But we are addressing all issues," he told a press conference at his residence here.
The finance ministry is working on one more booster dose to give a leg-up to the economy that has hit over six-year low of 5 per cent, a senior finance ministry official said.
Salve said the economic slowdown begun with the 2G case order when the apex court in one stroke cancelled 122 spectrum licences issued to telecom operators.
Her remarks came over a media report that automobile firm Mahindra's plants will be closed for 17 days.
The eight-member IMF team, led by Middle East and Central Asia Director Jihad Azour, will hold a series of meeting Prime Minister Imran Khan and other officials of the Pakistani government.
Top News
