New Delhi: Prime Minister Narendra Modi on Friday said the Indian economy has the resilience to reverse the current slowdown and return to high growth trajectory and exhorted corporates to take bold investment decisions to help push up GDP growth.
MUMBAI: To forcefully bring down the rate of interest in the economy, the RBI on Thursday said it would buy government securities (G-Secs) with a 10-year maturity while, at the same time, sell government bonds with just one-year maturity — both worth Rs 10,000 crore each.
There is little doubt that India is one of the biggest economies in the world, and with the ambitious target of becoming a $5 trillion economy by 2025, it’s set to grow even bigger.
NEW DELHI: Former chief economic adviser Arvind Subramanian said he was against reducing personal income tax rates, as it would benefit a small percentage of taxpayers, and raising of GST rates. He stressed that there was no space for expansionary fiscal policy.
Garment manufacturers this week lobbied for more cost-saving policies to offset the rise in the sector’s minimum wage.
The Uttar Pradesh government has planned to partner US-based ecommerce company eBay for boosting the exports of the state’s indigenous products and handicrafts.