Economy

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18-Apr-2019   12:43 Hrs IST Inflation goals of RBI need to be relooked: Rathin Roy <p align="justify">The member of Prime Minister Narendra Modi's Economic Advisory Council, Rathin Roy has expressed the need to relook over the Reserve Bank of India's (RBI) inflation target after the elections, given that the current mandate expires at the end of March 2021.<br></p><p align="justify">Rathin Roy also stressed that the government needs to decide what sort of macroeconomic framework is needed going forward and noted that those discussions and decisions will take time and a new administration should therefore start immediately to get the process going.<br></p><p align="justify">Further, the economic adviser said that authorities will need to decide whether the inflation target band of 2 percent to 6 percent is too wide. He also pointed that the current targeting regime -a rather uniquely broad range of 400 basis points within which the RBI has sanction to operate- should become a little more disciplined. Besides, he suggested that the decision should also be made on what interest rate is required to keep inflation in the middle of the band.<br></p>
18-Apr-2019   10:34 Hrs IST India's high GDP growth not possible without adequate job creation: Amitabh Kant <p align="justify">Niti Aayog CEO Amitabh Kant has said that India has been registering more than 7 percent Gross Domestic Product (GDP) growth rate and this could not have happened without adequate job creation. He also said that when non-NDA ruled states like Karnataka and West Bengal are claiming that jobs are being created, then it was not possible that at all India level, employment is not being generated. </p><p align="justify">Kant said “how is it possible that we are having 7.5 percent growth and jobs are not being created? It is not possible.” He pointed out that If West Bengal and Karnataka are saying that jobs have been created in their respective states, then how it is possible that at the national level there is no employment generation. His statement comes against the backdrop of a report by Azim Premji University suggesting that employment opportunities declined and 5 million men lost their jobs between 2016 and 2018.</p><p align="justify">Niti Aayog CEO has stated that India needs to accelerate its growth rate from 7 percent to 10 percent. He also expressed hopes that the country will be amongst the top 25 countries in World Bank's ease of doing business ranking in the next three years. Adding further, he said Insolvency and Bankruptcy Code (IBC), Goods and Services Tax (GST) and Real Estate Regulatory Authority (RERA) were major reforms undertaken by the Modi government and real impact of these reforms will start reflecting in next two years. He also pitched for opening up of mining and coal sectors for boost job creation.<br></p>
18-Apr-2019   09:56 Hrs IST Issuance of government-fully serviced bonds jumps to Rs 64,192 crore in FY19: ICRA
18-Apr-2019   09:37 Hrs IST India's steel demand may grow above 7% in 2019, 2020: World Steel Association
18-Apr-2019   09:19 Hrs IST P-notes investment jumps to Rs 78,110 crore at March-end
16-Apr-2019   12:50 Hrs IST Need to promote resource efficiency to achieve climate resilient urban development: Naidu
16-Apr-2019   10:41 Hrs IST Govt targeting Rs 50,000 crore public procurement through GeM in FY20
16-Apr-2019   09:56 Hrs IST India's exports rise to five-month high in March; trade deficit narrows to $10.89 billion
16-Apr-2019   09:56 Hrs IST India's exports rise to five-month high in March; trade deficit narrows to $10.89 billion
16-Apr-2019   09:28 Hrs IST Fast economic growth, rapid urbanisation to slash number of people in poverty by 2021: Jaitley

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