Category «Economy»

OECD raises India’s economic growth forecast to 12.6% for 2021-22

OECD raises India's economic growth forecast to 12.6% for 2021-22

By Administrator_India Capital Sands The Organization for Economic Co-operation and Development (OECD) has raised the projection for India’s economic growth rate by 4.7 per centage points at 12.6 per cent for 2021-22. That would enable India to retain its earlier tag of the fastest growing large economy in the world. In its interim report on economic outlook, OECD said: …

India’s GDP may contract 7.7% in FY21: First advance estimates

India's FDI inflows up 37% in October-December to $26.16 billion

By Administrator_India Capital Sands The pandemic will pull down India’s gross domestic product by 7.7 per cent in 2020-21, the first advance estimate of GDP released by the National Statistical Office (NSO) on Thursday showed. This will be the biggest annual contraction in records going back to 1952, according to Bloomberg. The estimate by the NSO was …

‘Q2 GDP looks much better but no guarantee of improvement unless government spends more’

India's FDI inflows up 37% in October-December to $26.16 billion

By Administrator_India Capital Sands  The Indian economy contracted 7.50 percent in the second quarter of this financial year against a decline of 23.90 percent in the first quarter. Technically, the country is in a recession following two straight quarters of contraction but the slowdown is gradually easing. The gross domestic product (GDP) growth is at …

Diwali gift: FM Nirmala Sitharaman likely to announce stimulus package today

Diwali gift: FM Nirmala Sitharaman likely to announce stimulus package today

By Administrator_India Capital Sands Finance Minister Nirmala Sitharaman is likely to announce a mega pre-diwali stimulus package on November 12 afternoon. These could include measures aimed at sectors worst hit by the COVID-19 pandemic, as well as listing out of infrastructure projects which will be expedited with the aim of job creation. FM Sitharaman will …

A year after Goodwin scam: This Diwali, avoid gold savings schemes of jewellers

Gold and Brent crude rise over 1% after Janet Yellen's 'act big' call

By Administrator_India Capital Sands It has been a year since the Rs 25 crore scam of Goodwin Jewellers  happened. As many as 1,573 individuals were duped into buying a gold savings scheme that had promised to offer gold jewellery of up to 14 percent more on the investment amount. But, come Dhanteras, which falls on November 13 …

4 years on, PM Narendra Modi says demonetisation demolished corruption

4 years on, PM Narendra Modi says demonetisation demolished corruption

By Administrator_India Capital Sands On the fourth anniversary of note ban, Prime Minister Nare­ndra Modi on Sunday said it helped reduce black money, increase tax compliance and formalisation, and gave a boost to transparency. On November 8, 2016, Modi announced the decision to ban all currency notes of denomination of 500 and 1,000 from midnight. …

Rupee falls sharply to the dollar as pandemic resurgence grips Europe

Rupee falls sharply to the dollar as pandemic resurgence grips Europe

By Administrator_India Capital Sands The Indian rupee depreciated sharply on Monday as Europe got under a renewed grip of the coronavirus pandemic and risk aversion pushed the dollar index higher. The rupee fell about 24 paise on Monday to close at 73.85 a dollar as the dollar appreciated against major currencies, and nationalised banks bought dollars from …

Diesel, Petrol prices remain unchanged for 21st straight day– Check fuel prices in metro cities on October 23, 2020

Diesel, Petrol prices remain unchanged for 21st straight day– Check fuel prices in metro cities on October 23, 2020

By Administrator_India Capital Sands New Delhi: Petrol and diesel prices remained unchanged on Thursday, as state-run oil marketing companies held the fuel prices steady. Rates differ from state to state depending on the incidence of VAT. Taxes make up for nearly two-third of the retail selling price. Here is looking at the price difference of …

Pound Falls on Lockdown, Brexit Fears

By Administrator_ India Capital Sands The pound fell sharply Tuesday as concerns about a no-deal Brexit and fears over a looming lockdown hurt sentiment. GBP/USD fell 0.95% to $1.2940. The possibility of the UK leaving the EU without a trade deal is a “credible hypothesis,” French foreign minister Jean-Yves Le Drian reportedly said Tuesday, according to …

Double-digit rise in exports helps India nearly halve trade gap with China

China Feb exports post record surge from Covid-19-depressed 2020 levels

By Administrator_India Capital Sands India’s robust double-digit exports growth to China, coupled with sharp contraction in imports, nearly halved the trade gap between the two trading partners in the first five months of the current fiscal year (2020-21, or FY21) over the same period of 2019-20 (FY20). The restriction on imports from China, along with …