India’s foreign exchange reserves surged by a massive $6.47 billion to touch an all-time high of $513.25 billion in the week ended July 3, the latest data from the Reserve Bank of India (RBI) showed. In the previous week ended Jun 26, the reserves had increased by $1.27 billion to $506.84 billion. The reserves had […]
“This is not the time to talk of fiscal consolidation. This is the time in which the world believes, I think, that what needs to be protected is the expenditure over fiscal deficit and this is exactly what the central government has done,” NK Singh said at a press conference on Friday. His statement assumes
India figures among the top-three countries getting detailed information from Switzerland about bank accounts and beneficiary ownership of entities established by their residents in the Alpine nation, according to the latest study by OECD’s Global Forum on transparency and exchange of information for tax purposes. In its latest peer review report on exchange of information
India among Switzerland’s top-3 partners for info exchange on tax matters Read More »
Finance Minister Nirmala Sitharaman on June 25 said the Centre is in talks with the Reserve Bank of India (RBI) on the subject of one-time restructuring of loans to provide relief to companies that are reeling under stress due to the unprecedented economic fallout from the COVID-19 pandemic. Sitharaman said the Centre was also looking
FM Sitharaman in talks with RBI on restructuring of loans Read More »
As per the Scheme, the guarantee cover worth Rs. 20,000 crores will be provided to the promoters who can take debt from the banks to further invest in their stressed MSMEs as equity, an official release said. This Scheme seeks to extend support to the promoters of the operational MSMEs which are stressed and have
India received USD 51 billion in foreign investment in 2019 and was the world’s 9th largest recipient of foreign direct investments (FDI) in 2019, according to a report by the UN’s trade body. The UN Conference on Trade and Development (UNCTAD) said in a report on Monday that a lower but positive economic growth in
In a relief to millions of construction workers during the nationwide lockdown, states have disbursed Rs 4957 crore to two crore building and construction workers till date following an advisory from the labour ministry in March. “About 1.75 crore transactions were done directly into the bank accounts of the workers through direct benefit transfer (DBT)
States disbursed Rs 4957 crore to two crore construction workers Read More »
India’s foreign exchange reserves have soared past half a trillion dollars, helped by a rebound in equity flows and foreign direct investment deals. Forex exchange reserves rose to $501.7 billion for the week ended June 5, up by $8.22 billion. This is the highest level of forex reserves India has ever held. Big contributor of
The government on June 10, 2020, released Rs 6,195.08 crore to 14 states as the third equated-monthly instalment of the post devolution revenue deficit grant as recommended by the 15th Finance Commission. This would provide them additional resources during the corona crisis. States — Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab,
Impact on aviation: As you tourism and traveling was restricted during lockdown in mostly all of COVID-19 impacted countries, obviously there will great loss for them for that period and aviation industry have gone downward. However now government of many countries have started operating in restricted manner, we hope that aviation sector can recover their