Economy

COVID surge, vaccine shortages spread beyond India’s borders

Aim of becoming USD 5-trillion economy possible if finances are managed prudently: Pranab

10:39 pm August 24, 2019

Kolkata: Former president Pranab Mukherjee on Saturday said the government’s ambitious target of becoming a USD 5-trillion economy by 2024-25 is possible through prudent fiscal management. Mukherjee also said the GST needs more clarity and that some signs of a slowdown in the economy were visible since last year, leading to a lower GDP growth […]

Govt to review surcharge on super-rich in 2022: Sitharaman

10:31 pm August 23, 2019

New Delhi: Ruling out any immediate review of enhanced surcharge on super rich, Finance Minister Nirmala Sitharaman on Friday said the matter will be looked into only in 2022, when the country will celebrate the 75th anniversary of independence. In the 2019-20 Budget, the government increased surcharge from 15 per cent to 25 per cent […]

Home, auto, other retail loans to become cheaper: FM

10:04 pm August 23, 2019

New Delhi: Home, auto and other loans are set to become cheaper as the government on Friday said the public sector banks will soon be lending at RBI’s benchmark-linked rate and get an additional Rs 70,000-crore upfront capital infusion that will boost their lending capacity in the market by Rs 5 lakh crore. Announcing measures […]

Trump's counter to Democratic convention? Swing state trips

Trump looking at tax cut, not fearing recession

2:57 am August 21, 2019

Washington: President Donald Trump says his administration is a looking at tax cut proposals but not as a response to a potential recession. He says, “I’m looking at that all the time anyway.” Trump talked about the economy and trade with China during a meeting Tuesday in the Oval Office with the president of Romania. […]

Xi said Sino-US relations were at a "critical juncture", CCTV said, adding that cooperation was mutually beneficial and "the only right choice." "I hope that the US will take substantive actions to improve Sino-US relations, and both sides can work together to strengthen cooperation in fighting the epidemic," he said. Some provinces, cities and companies in China have provided medical supplies and support to the US as well, Xi added.

IMF warns increasing US tariffs could cut China growth sharply

3:20 am August 10, 2019

Washington: China’s economy already is slowing amid the trade conflict with the US, but if Washington were to ramp up tariffs even further it could cut Chinese growth sharply, the IMF warned Friday. The International Monetary Fund trimmed its growth forecast for China to 6.2 percent this year, assuming no new tariffs are imposed, but […]