Economy / Finance

Nabard disburses Rs 12,298 crore so far under Swachh Bharat Mission

Posted on 2020-10-02T17:23:04+05:30 - economy-finance

Nabard said the campaign will support the government's SBM-G and Water, Sanitisation and Hygiene (WASH) programmes to enable the vulnerable rural communities to access better sanitation facilities in the wake of the COVID-19 pandemic.

Andhra Pradesh and Uttar Pradesh get additional borrowing limit of Rs 7,376 crore

Posted on 2020-10-02T12:10:55+05:30 - economy-finance

While UP has been permitted to borrow Rs 4,851 crore on account of One Nation One Ration Card System (ONORCS) reforms under the PDS, AP will be allowed to undertake open market borrowings of another Rs 2,525 crore for making the state more investor and business-friendly, it said.

India's external account position best since Manmohan Singh opened up the economy

Posted on 2020-10-02T07:53:00+05:30 - economy-finance

Of the $28 billion added to India’s foreign exchange reserves during April-June, $20 billion is through export earnings, while $8 billion got added on account of valuation gains, the Reserve Bank of India (RBI) data shows.

Finance Minister Nirmala Sitharaman reviews Atmanirbhar Bharat progress

Posted on 2020-10-01T23:24:02+05:30 - economy-finance

Over ₹1.32 lakh crore of loans have been disbursed to more than 2.7 million non-individuals and individuals under the ₹3 lakh crore Emergency Credit Line Guarantee Scheme by public and private sector banks and non-banking financial companies.

Opposition-ruled states dig in heels against centre’s borrowing options

Posted on 2020-10-01T23:16:15+05:30 - economy-finance

The Opposition-ruled states of Punjab, Chhattisgarh, Jharkhand, West Bengal, Kerala, Delhi, Maharashtra, Puducherry and Telangana would reject the borrowing options and ask the Centre to activate the grievance redressal mechanism.

Goldman Sachs to open office in Hyderabad, second in India

Posted on 2020-10-01T21:43:30+05:30 - economy-finance

"The new Hyderabad office will be the second location for Goldman Sachs Services in India, and will complement the Bengaluru office footprint in terms of both execution and support that it will provide to the firm's businesses globally," a release from the state government quoted the firm as saying on Thursday.

Assam has witnessed positive GST growth of 13.49% in September: Himanta Biswa Sarma

Posted on 2020-10-01T20:20:41+05:30 - economy-finance

Sarma said, "First time since Lockdown, Assam registered positive GST revenue growth of 13.49% in Sept 2020 (Rs 757.94 cr) via-a - vis Sept 2019 ( Rs 667.83cr). We will continue with this momentum to reach our revenue target. @nsitharaman @PMOIndia."

States see sharp rise in fiscal and revenue deficits in Q1 of FY 2020-21: Ind-Ra

Posted on 2020-10-01T15:47:04+05:30 - economy-finance

While their aggregate fiscal deficit reached 40.7% of the budgeted amount for FY21 against 13.4% for the same period last year, the total revenue deficit hit 285% of this year’s budget estimate against 12.9% a year ago, according to an analysis of the finances of 18 states by India Ratings and Research (Ind-Ra).

Govt collects Rs 95,480 crore GST in September, highest since lockdown began in March

Posted on 2020-10-01T15:32:59+05:30 - economy-finance

Collections for September were 10.4% higher than August and 4% higher than last year same month, the finance ministry said in a statement Thursday.

SBI sees govt overshooting fiscal deficit numbers, pegs combined deficit at 13%

Posted on 2020-10-01T14:00:20+05:30 - economy-finance

"We are expecting a consolidated fiscal deficit of the Centre and the states to touch 13 per cent of GDP going by the current trends," SBI Research report said.

RBI fixes Centre's WMA limit at Rs 1.25 lakh crore for second half of FY 2020-21

Posted on 2020-09-30T22:46:50+05:30 - economy-finance

"It has been decided, in consultation with the Government of India, that the limits for ways and means advances (WMA) for the second half of the financial year 2020-21 (October 2020 to March 2021) will be Rs 1,25,000 crore," the RBI said in a statement.

At Rs 40,072 cr, govt's external financing jumps 5-times till August: Care Ratings

Posted on 2020-09-30T22:38:03+05:30 - economy-finance

According to data released by the Controller General of Accounts earlier on Wednesday, fiscal deficit during April-August stood at 109.3 per cent of the annual target. This was 57 per cent higher than the corresponding period last year. In absolute terms, fiscal deficit -- which is the gap between expenditure and revenue -- stood at Rs 8,70,347 crore.