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BusinessToday.In
New Delhi, June 9, 2021
The Mumbai bench of the National Company Law Tribunal (NCLT) has approved Vedanta Group's Twin Star Technologies' resolution plan for beleaguered Videocon Industries Ltd; The World Bank's Board of Executive Directors has approved a $500 million program to support the Government of India's nationwide initiative to revitalise MSME (micro, small and medium enterprise) sector; After finance minister Nirmala Sitharaman's directions, Infosys co-founder and its chairman Nandan Nilekani said on Tuesday that he and his team are working to resolve issues observed on Day 1 of the launch of the new e-filing income tax platform. Watch this and more on News Blast.Also Read: Richer they are, lesser the tax: Jeff Bezos, Elon Musk, other rich Americans paid little to nothing


Rashi Bisaria
New Delhi, June 9, 2021
Anil Agarwal's Vedanta to acquire Videocon from insolvencyThe Mumbai bench of the National Company Law Tribunal (NCLT) has approved Vedanta Group's Twin Star Technologies' resolution plan for beleaguered Videocon Industries Ltd. As per the resolution plan, Twin Star Technologies will pay Rs 2,962 crore against Videocon's total debt of Rs 31,000 crore.Centre caps vaccine prices for private hospitals; Covishield at Rs 780, Covaxin Rs 1,410A day after Prime Minister Narendra Modi said private...


PTI
June 9, 2021
UBS pegs the total fiscal cost to the Centre at Rs 40,000-Rs 45,000 crore and of this, Rs 35,000 crore has already been provided for in the Budget, which means the Centre will have to allocate a maximum of Rs 10,000 crore for this


Anand Adhikari
New Delhi, June 8, 2021
The second covid wave has already impacted the pace of economic recovery as seen from the GDP downgrades by the Reserve Bank of India, global rating agencies, and other global institutions. Given the widening fiscal deficit and higher public debt, there is now a threat of a sovereign rating downgrade if another Covid wave hits the economy. The risk of a downgrade comes from a slowing growth momentum, widening fiscal deficit, higher inflationary pressure, and a stressed banking sector. The RBI's ability to pump in another liquidity bonanza like 8 per cent of GDP in the first pandemic year 20-21 is also not possible. The current fiscal deficit at 9.3 per cent of GDP for 20-21 is one of the highest in recent decades. The banking sector has entered the crisis with 8 per cent gross NPAs Post the second wave, the real stress in banks, NBFCs, and other entities are hidden because of regulatory forbearances especially loan moratorium, govt guarantees, and one-time loan restructuring. There is a lot on the government's shoulders to avoid a rating downgrade as it would have serious implications.Also Read: World Bank cuts India's FY22 GDP growth forecast to 8.3% from 11.2%


PTI
June 6, 2021
The inflow comes following a net withdrawal of Rs 2,954 crore in May and Rs 9,659 crore in April, data with depositories showed


BusinessToday.In
June 5, 2021
Kumar's statements came a day after the Reserve Bank of India (RBI) lowered the country's growth forecast for the current fiscal by a percentage point to 9.5 per cent from 10.5%


BusinessToday.In
June 4, 2021
All sorts of payments including dividend, interest, salary, pension, to payments on electricity, gas, telephone, water, periodic instalments towards loans, investments in mutual funds, insurance premium, etc, can take place even on bank holidays now


BusinessToday.In
June 4, 2021
RBI MPC meet: Repo rate will be kept unchanged at 4 per cent. Reverse repo rate has also been kept unchanged at 3.5 per cent


BusinessToday.In
June 4, 2021
The RBI expects GDP to grow at 18.5 per cent in first quarter, 7.9 per cent in second quarter, 7.2 per cent in third quarter, and 6.6 per cent in fourth quarter of 2021-22


BusinessToday.In
June 4, 2021
RBI MPC meet: The RBI is likely to revise growth projections for FY22, which would be in line with a host of rating agencies, banks and brokerages' estimates


BusinessToday.In
New Delhi, June 2, 2021
The second wave of COVID-19 has severely impacted household incomes and jobs as local lockdowns remain imposed in most states. The impact of these local restrictions has been felt by people working in the informal sector, according to fresh data released by the Centre for Monitoring Indian Economy (CMIE). In an exclusive interview with India Today, Centre for Monitoring Indian Economy (CMIE) Chief Mahesh Vyas said that India had lost more than 22 million jobs in the months of April and May due to the lockdown. Stating that the main reason for the job losses is 'mainly the second wave' of COVID-19 infections, Vyas said as the economy opens up, part of the problem will be solved but not entirely. He added that people who lose jobs find it hard to get employment, specifying that while the informal sector jobs come back quickly, the formal sector and better quality job opportunities take up to a year to come back. Watch the video for more.Also Read: RBI's MPC begins discussions; repo rate likely to remain unchanged


PTI
June 1, 2021
Gandhi's remarks came a day after data released by the National Statistical Office (NSO) showed that India's economy contracted by 7.3 percent in the fiscal year ended March 2021


BusinessToday.In
June 1, 2021
Moody's said India's economy will rebound in financial year 2021-22, after contracting in FY21, and grow by 9.3 per cent.


BusinessToday.In
New Delhi, June 1, 2021
The demand for travel credit cards jumped in FY21, especially in the fourth quarter, even as people remained cooped up at home amid lockdown; Chief Economic Adviser KV Subramanian on Monday said the momentum of GDP growth has been affected by the second Covid-19 wave, but assured that its overall economic impact is unlikely to be very large; Nestle is now on a damage control mode after a report stated that over 60 per cent of its food portfolio is unhealthy. Watch this and more news on News Blast.Also Read: Manufacturing PMI slips to 50.8 in May, lowest in 10 months


BusinessToday.In
May 31, 2021
Sensex rose 514.56 points to 51,937 and Nifty climbed 147 points to 15,582 closing at a record high for the third consecutive session


Manoj Sharma
May 31, 2021
In Q3, economy stepped out of recession for the first time after registering negative growth for two consecutive quarters in 2020-21. Growth was recorded on record investment and government expenditure even as private expenditure lagged behind amid Covid-19 curbs


BusinessToday.In
May 31, 2021
FICCI said measures to support demand revival will be crucial for the economy to recover from the latest pandemic-induced shock.


BusinessToday.In
May 27, 2021
The RBI, in its annual report, further stated that India's growth prospects primarily hinge upon how fast the economy can arrest the impact of the second wave of the COVID-19 pandemic


BusinessToday.In
May 27, 2021
\"In my view, this is the time to expand the balance sheet of the government, duly supported by the RBI... for monetary expansion or printing of money,\" said Uday Kotak


Niti Kiran
New Delhi, May 26, 2021
Domestic equity markets have shown resilience. Here are five sectors that will do well in spite of the Covid-19 mayhem


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