Economy Archives

RBI dividend a third of last year’s; to transfer surplus of Rs 57,128 crore to govt

The government had budgeted for lower dividend from the RBI and state-run lenders 2020-21, as it has decided to rely heavily on disinvestment. The Reserve Bank of India (RBI) on Friday said it would transfer a surplus of Rs 57,128 crore to the government for 2019-20 (July-June). For the Centre, the receipts will be budgeted …

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Economy

August 15, 2020
243
Uncategorized

India’s forex reserves rise by $3.623 bn to hit record high at $538.191 bn

Foreign currency assets (FCA), which form a key component of reserves, rose by $1.464 billion to $492.293 billion. India’s forex reserves continued to hit record high levels as they rose by $3.623 billion as on August 7 compared to the week before to $538.191 billion, according to the latest data put out by the Reserve …

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Economy

August 15, 2020
256
Uncategorized

Signs of recovery? Trade contraction narrows sharply to 28.4% in July

Exports in July stood at $23.64 billion, while imports touched $28.47 billion. Merchandise exports dropped by only 10.2% year on year in July against a 12.4% fall in the previous month, but a contraction in imports narrowed sharply to 28.4% from 47.6%. Consequently, trade balance swung from the first monthly surplus ($0.8 billion) in about …

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Economy

August 15, 2020
294
Uncategorized

Kerala has potential to earn $54.7 billion in export revenues by 2024-25: Study

Merchandise exports from Kerala stood at $ 9.8 billion in 2018-19. Kerala could well earn $54.7 billion in export revenues by 2024-25 with a favourable policy framework in place and concerted efforts to boost exports, revealed a study published by the Export-Import Bank of India (Exim Bank) on Friday. Merchandise exports from Kerala stood at …

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Economy

August 15, 2020
273
Uncategorized

Former RBI governor Urjit Patel in search panel for Monetary Policy Committee members

The members of the MPC appointed by the Centre can hold office for a period of four years and won’t be eligible for re-appointment. Urjit Patel, who in his recent book Overdraft, attributed his rift with the Modi government and resignation as RBI governor before the end of the term to the latter’s soft pedaling …

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Economy

August 15, 2020
248
Uncategorized

FM Sitharaman pushes large CPSEs to meet half of FY21 capex target by September

Last month, she held two meetings to review capex plans of CPSEs. Finance Minister Nirmala Sitharaman on Friday exhorted large central public sector enterprises (CPSEs) to achieve by next month 50 per cent of their planned capital expenditure target for FY21 to support economic growth in the backdrop of challenges posed by COVID-19. She held …

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Economy

August 14, 2020
269
Uncategorized

Allow e-way bill for intra-state transportation of gold: GoM

States can make e-way bill mandatory for transportation of gold within the respective states but implementing it for inter-state movement across India will not be feasible, a state-ministerial panel suggested on Friday. The group of ministers (GoM), comprising finance ministers of Kerala, Bihar, Gujarat, Punjab, Karnataka and West Bengal, set up to examine feasibility of …

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Economy

August 14, 2020
282
Uncategorized

Dutch economy shrinks by ‘unprecedented’ 8.5% as coronavirus hits

It said consumer spending slumped by 11.8 per cent compared with the same three months last year as lockdown measures hit sales at bars, restaurants, clothes stores and gas stations. (Representative image) The Dutch economy suffered an unprecedented 8.5 per cent contraction in the second quarter as the coronavirus pandemic slammed the brakes on spending, …

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Economy

August 14, 2020
285
Uncategorized

RBI dividend a third of last year’s; to transfer surplus of Rs 57,128 crore to govt

India’s forex reserves rise by $3.623 bn to hit record high at $538.191 bn

Signs of recovery? Trade contraction narrows sharply to 28.4% in July

Kerala has potential to earn $54.7 billion in export revenues by 2024-25: Study

Former RBI governor Urjit Patel in search panel for Monetary Policy Committee members

FM Sitharaman pushes large CPSEs to meet half of FY21 capex target by September

Allow e-way bill for intra-state transportation of gold: GoM

Dutch economy shrinks by ‘unprecedented’ 8.5% as coronavirus hits

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