Higher wholesale prices, strong reservoir levels to help farmers in FY20
The central government's spending on the rural sector has increased 21% in the first seven months of fiscal 2020, the fastest growth in 11 years. All these factors, the unusually strong water reservoir levels and pick-up in rabi crop sowing activity, are initial signs pointing toward the rural sector bottoming out, Motilal Oswal says.
Give spending agenda, ease fiscal deficit target: Economists
At the pre-budget consultation with finance minister Nirmala Sitharaman, some ec...
20 financial resolutions to make in 2020
Keeping anything till the last minute is never a good idea, especially when it comes to money matt...
PayPal India FY19 loss up to Rs 8.13 crore as revenue doubles
The gross expenditure for the fiscal year came at Rs 660.26 crore up from Rs 260.80 crore in the year ago period, the company’s annual profit and loss statement showed.
ADB trims India's GDP growth forecast to 5.1% in FY20
"India's growth is now seen at a slower 5.1 per cent in fiscal year 2019-20 as the foundering of a major non-banking financial company in 2018 led to a rise in risk aversion in the financial sector and a credit crunch. Also, consumption was affected by slow job growth and rural distress aggravated by a poor harvest," Asian Development Bank said.
Public sector banks turn profitable in April-September FY20
PSBs had posted huge losses in 2017-18 and 2018-19 financial years due to heavy provisioning for non-performing assets and other contingencies, according to the minister. State-run lenders had posted aggregate operating profits during 2017-18 and 2018-19 of Rs 1,55,603 crore and Rs 1,53,871 crore respectively.
GST compensation required by 9 large states could double to Rs 70,000 crore in FY'20: ICRA
ICRA also expressed apprehension that "the central tax devolution (CTD) to these states in 2019-20 could be Rs 595-770 billion (Rs 59,500-77,000 crore) lower than what the GoI has budgeted, which has emerged as a key revenue risk for the states in this fiscal." Accordingly, a reduction in capital expenditure below the budgeted level appears imminent in the current fiscal.
FY20 fiscal deficit would easily slip to 3.8%: Indranil Sen Gupta
Indranil Sen Gupta, India Economist, BofA-ML, says the possibility of the government missing out on its FY20 fiscal deficit target is very h...
Surprise: RBI holds repo, cuts FY20 GDP forecast
Some corporate voices backed RBI’s move but with caveats.
GDP shocker: RBI cuts FY20 growth forecast to 5%
CPI inflation projection wad revised upwards to 5.1-4.7 per cent for the second half of FY20.
City to drive Honda’s India sales in FY21: Gaku Nakanishi
The carmaker, whose sales fell by more than a third in the first eight months of the fiscal year to a little over 77,000 units, expects the market to pick up from the next festive season, said Honda Cars India president and CEO Gaku Nakanishi.
Aadhaar enabled payment system growth slows in FY20
AePS facilitates cashless transactions through biometric authentication. According to NPCI, which runs the platform, biometric-based transactions grew by 10% to 208 million transactions in October 2019 from 189 million in April. October usually sees high transactions because of the festive season and higher remittance from urban to rural areas.
Crisil slashes FY20 growth forecast to 5.1 per cent
The move comes ahead of the RBI's announcement on lending rates on December 5. The RBI's monetary policy committee (MPC) will meet between December 3-5 to review the interest rates. Crisil's revision, which is among the lowest, comes within days of the official data showing a further slip in the second quarter growth to 4.5 per cent.
Omaxe's net profit falls 61% to Rs 4.25 crore in Q2 FY 20
Total income also declined to Rs 256.01 crore.
Govt okays Rs 5,300 cr fund infusion into IIFCL in FY20
Another Rs 10,000 crore will be infused in 2020-21.
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