Union Minister Prakash Javadekar on Wednesday announced that the central government will have a 'plan of action' to boost the economy with the upcoming budget to be presented on February 1.
US President Donald Trump on Tuesday said the US is in the midst of an economic boom that has never been seen before anywhere in the world.
China's economy grew by 6.1 per cent last year, the lowest annual growth rate in 29 years, National Bureau of Statistics said on Friday, as weak domestic demand and the bruising 18-month-long trade war with the US took their toll on the world's second-largest economic giant.
India attracted tech investments worth USD 9.36 billion last year, a 95 per cent increase compared with the previous year, according to the data compiled by a global database company.
Three Indian cities have been listed as the world's fastest-growing urban areas, a survey by the Economist Intelligence Unit (EIU) revealed. Malappuram, Kozhikode and Kollam were the only three cities to make it to the top 10 of the world's fastest-growing cities.
Unfazed by projections of GDP growth slowing to an 11-year low in the current fiscal, Prime Minister Narendra Modi on Thursday said fundamentals of the Indian economy are strong and it has the capacity to bounce back.
The World Bank has projected a five percent growth rate for India in 2019-2020 fiscal but said it was likely to recover to 5.8 percent in the following financial year.
Finance Minister Nirmala Sitharaman on Saturday will hold a meeting with heads of public sector banks to discuss various issues including the recently announced government measures to prop up the economy
The Washington-based lender, after the first review, posed trust on continuity of IMF-backed reforms needed to bring Pakistan's economy on the stability path. But, it cautioned against fiscal slippages with risks to reforms remaining elevated. The growth was projected to further slide to 2.4 per cent in the current fiscal year from 3.3 percent in the last fiscal of 2018/19, The News International reported.
The International Monetary Fund (IMF) has said that India's high growth rate in recent years did not lead to a matching increase in formal sector jobs and labour market participation has declined. The IMF's report on its annual consultations with India released in Washington on Monday said that while India has lifted millions out of poverty as one of the world's fastest-growing economies, "recent labour market data suggests that unemployment is high while labour force participation has decreased, particularly for females."
Just over 47 per cent of Indians feel that the Indian Constitution had been violated by the recently-passed Citizenship Amendment Act but nearly the same number differs on this issue, according to an IANS-CVoter survey.
Congress Secretary Priyanka Gandhi on Saturday slammed the government during the 'Bharat Bachao' rally. She attacked the Modi government over several issues including GDP, citizenship act, women safety and economy.
Congress General Secretary Priyanka Gandhi on Friday questioned the ruling Bharatiya Janata Party (BJP) for its economic policies and thus keeping it's pressure on the economy even in the face of a discourse dominated by the Citizenship (Amendment) Bill, 2019.
Finance Minister Nirmala Sitharaman on Saturday said the government is working on more steps, including rationalisation of personal income tax rates, to revive the sagging economy.
Cash-strapped Pakistan received a USD 1.3-billion loan from the Asian Development Bank (ADB) on Friday to support the country's public finances and shore up the slowing economy.
"ADB is committed to providing wide-ranging support to strengthen Pakistan's economy and reduce the risk of external economic shocks," said ADB Director General for Central and West Asia Werner Liepach. While USD 1 billion has been extended to Pakistan to improve its current account deficit, strengthen its revenue base, USD 300 million has been extended for the energy program, another ADB press release said.
In October, the RBI's MPC stuck to its "accommodative stance" by reducing its key lending rate to 5.15 per cent, the lowest in around a decade. The record low repo was set at 4.75 per cent in April 2009 as a result of the global financial crisis.
Finance Minister Nirmala Sitharaman said on Saturday that several significant steps in structural reforms have been taken in the past few months and responses/interventions addressing the needs of the economy will continue, indicating more relief measures could be on the anvil, if so needed.
Wells emphasised the CPEC was not an aid to Pakistan but a form of financing that guaranteed profits for Chinese enterprises, with little benefits for Islamabad.
Senior Congress leader P Chidambaram on Monday said his party must lead the Opposition in Parliament to expose the "utter mismanagement" of the economy by the Modi government.
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