Business Economy

WPI inflation eases to near two-year low

Wholesale price-based inflation declined for the second consecutive month to its 23-month low of 2.02% in June, helped by decline in prices of vegetables as well as fuel and power items, according to official data released on Monday. The Wholesale Price Index (WPI)-based inflation was at 2.45% in May. It was 5.68% in June 2018. […]

Business Economy

Why is India opting for overseas bonds?

The story so far: The government, Finance Minister Nirmala Sitharaman announced in the Budget speech, plans to raise a portion of its gross borrowing from overseas markets. The government and the Reserve Bank of India (RBI) will reportedly finalise the plans for the overseas issue of sovereign bonds by September. While several commentators have argued […]

Business Economy

‘Lower fiscal deficit will allow private sector to borrow more’

Finance Secretary Subhash Chandra Garg on Friday defended the government’s decision to bring the fiscal deficit down to 3.3% this year, saying this would free up additional resources for the private sector to borrow and invest. He also acknowledged the industry’s concerns that payments by the government for services were delayed, creating a liquidity crunch […]

Business Economy

IOB to focus on recovery, improving margins

Public sector lender Indian Overseas Bank’s (IOB) current focus would be on reducing its net non-performing assets (NPAs) and coming out of the Prompt Corrective Action (PCA) framework of the Reserve Bank of India during the current fiscal, said a top official. “The current year’s focus will be on improving net interest margin, net interest […]

Business Economy

Public, private sectors have to invest: Garg

The government hopes to get investments from public sector companies as well as the private sector, according to Finance Secretary Subhash Chandra Garg. Mr. Garg said that the government’s own contribution to gross capital formation was small and so, in the unlikely event that this was even doubled, the overall impact on capital formation would […]

Business Economy

Union Budget 2019-20: No specific funds for Narendra Modi’s pet rural water supply scheme

To fulfil Prime Minister Narendra Modi’s promise of piped water supply to all rural households by 2024, the new Jal Jeevan Mission — which has no budget allocation of its own — will need to converge with other Central and State government schemes, Finance Minister Nirmala Sitharaman said. The budget for the National Rural Drinking […]