The global economy is likely to contract by 5.2% in 2020 with the coronavirus still spreading and the economic prospects of countries across the world looking muted, PTI reports quoting a Dun and Bradstreet’s Country Risk and Global Outlook Report. According to Dun and Bradstreet’s Country Risk and Global Outlook Report, that covered 132 countries,
Union Minister Jitendra Singh has said that the country will be an important pillar of the post-coronavirus global economic recovery and that the road map for winning the battle against the pandemic lies in countries restarting the economy and strengthening cooperative federalism, PTI reports. Addressing an event, he said that India has set the tone
India’s economy that saw a disruption triggered by the novel coronavirus, has begun recovering from June, PTI reported State Bank of India chairman Rajnish Kumar as saying. However, he said that at least three to four months would be needed to observe the recovery trend. “Covid-19 has caused gigantic disruption of the Indian economy along
The domestic economy has begun showing signs of normalcy with the ease in lockdown restrictions across the country, PTI reports RBI Governor Shaktikanta Das as saying. Das added that post containment of Covid-19, a very careful trajectory has to be followed in the orderly unwinding of countercyclical regulatory measures. The financial sector should return to
The country requires foreign direct investments (FDI) of Rs 50-60 lakh crore, which can be tapped primarily by infrastructure projects as well as Micro, Small & Medium Enterprises (MSME) sector to boost coronavirus-hit economy, said Nitin Gadkari, the Union Minister for the Road Transport, Highways and MSME. Underscoring the need of FDI as the need
The country’s economy will witness a recovery after the containment of Covid-19 pandemic, as well as the ongoing reforms directed at keeping India’s growth rate ahead of peers, PTI has reported Niti Aayog vice-chairman Rajiv Kumar as saying. “India’s economy will recover following the containment of the Covid-19 pandemic. India’s strong democratic institutions promote policy
The International Monetary Fund (IMF) projects India to be the fastest growing major economy this year in a world plunged into a recession by the coronavirus pandemic, despite drastically slashing its growth rate to a paltry 1.9%. The World Economic Outlook (WEO) report released by chief economist Gita Gopinath expects India to rebound in the
The Confederation of Indian Industry (CII) has pressed the Prime Minister Narendra Modi for a fiscal stimulus of Rs 2 lakh crore to counter the impact of coronavirus (COVID-19) on the industry and economy. The industry body also asked a slew of tax cuts and reduction in the interest rates for the same. The CII
RBI Governor Shaktikanta Das has said that on the back of countercyclical measures undertaken by the government, structural reforms need to be continued to revive demand and support the economy. Also, green shoots are now visible and need to be sustained to pull India out of its current slowdown. In an interview with PTI, Das
We wholeheartedly congratulate the honourable Finance Minister Nirmala Sitharaman for announcing such a bold and decisive measure. This was a long-standing demand of the Indian corporates including the real estate sector. We believe the decision will go a long way in reinvigorating the manufacturing sector in particular in line with make in India initiative of
Superb move by the Government to stimulate corporate savings which will get channelised into investments, better pay, promotions ..which will directly stimulate demand. Corporate taxes have been on a high side for some time now, and this move is the right one. Hope this decision is not just for 1 year but continues forever. I
The tax announcements made by FM minister is indeed a welcome measure and will definitely boost the Government’s ambitious Make in India program. Once the corporate tax rate of 22% for local companies and the new tax rate of 15 % on companies formed after October 2019 comes into effect, investments are likely to surge
In another positive and a bold step to help revive the economy from its slumber, the FM has slashed the corporate tax rates to 25.75% from earlier 30%. This big-bang move will have a rippling impact on all sectors including real estate as it will encourage foreign institutional investors to invest in the country. In
The Government has brought in the Taxation Laws (Amendment) Ordinance 2019 to make certain amendments in the Income-tax Act 1961 and the Finance (No. 2) Act 2019. This was announced by the Union Minister for Finance & Corporate Affairs Smt Nirmala Sitharaman during a Press Conference in Goa today. The salient features of these amendments
We are delighted with the Honourable Finance Minister’s announcement this morning on restructuring the corporate tax regime. It is a milestone effort towards kick-starting the Indian economy and boost production. This substantial direct tax reduction will allow more liquidity for the corporates that are currently assuming drastic measures to protect their profitability. This reduction in
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