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Politics

Economy close to collapse, fear in country: Chidambaram

NEW DELHI: Former finance minister P Chidambaram on Monday tore into the Modi government’s handling of the economy, saying it was close to collapse and was been attended by “very incompetent doctors.” Initiating the debate on the Union Budget for 2020-21, he said rising unemployment and falling consumption was making India poorer. The economy, he …

General

On eve of expected acquittal, Trump scorns Democrats, touts economy at State of the Union speech

US President Donald Trump, emerging from the shadow of impeachment, faced Democratic lawmakers who seek to toss him from office on Tuesday at a State of the Union speech he used to belittle his opponents and tout the US economy. Trump avoided the subject of his impeachment in the early portion of his speech, but …

Politics

Economy not in recession: Anurag Thakur

NEW DELHI: The government on Monday said the economy is not in recession and India recorded the highest average growth among the G-20 nations during 2014-19. In a written reply to a question in the Lok Sabha, minister of state for finance Anurag Thakur said that according to the IMF (International Monetary Fund) estimates, India …

Health

A long shot at growth: Can FM Nirmala Sitharaman’s 161-minute budget revive economy?

The burden of two failed budgets of the past weighed on Union Finance Minister Nirmala Sitharaman as she got down to delivering her 161-minute speech – the longest by any finance minister – in Parliament on Saturday. Piyush Goyal’s Interim Budget 2019 and Sitharaman’s full Budget in the same year had failed to revive the …

Health

Budget 2020: Centre allocates $40 billion for farm sector to lift wobbly economy

Narendra Modi-led BJP government said on Saturday it would inject nearly $40 billion into the sprawling farm sector and billions more into a federal water scheme to get broader economic growth back up from its lowest in a decade. Finance Minister Nirmala Sitharaman, presenting the 2020/21 budget for the financial year beginning April 1 to …

General

Why Coronavirus outbreak in China is bad news for economy

According to the Asian Development Bank, the SARS outbreak had caused a loss of $18 billion. The full scale global impact of the corronavirus impact would be much greater. Passengers arriving from China and Hong Kong are being thermal-screened at Kolkata airport in the view of coronavirus outbreaak. (Photo: PTI) HIGHLIGHTS Coronavirus outbreak in China …

Politics

Not fiscal stimulus, alternate measures needed to boost economy: Rajiv Kumar

NEW DELHI: The government should focus on alternate measures to stimulate economy as it is not possible to give fiscal stimulus, Niti Aayog vice-chairman Rajiv Kumar said ahead of the Budget. Kumar also said growth-enhancing measures are the need of the hour to achieve India’s potential growth rate of 7-8 per cent per annum. He …

Politics

Indian Economy: The crisis that shattered India’s economic dreams | India Business News

NEW DELHI: Wish Town was once a sought-after destination for India’s aspiring middle classes seeking a slice of the “good days” promised by an ambitious Prime Minister Narendra Modi when he swept to power more than five years ago. Now, it’s a symbol of lost hope. A sprawling 1,063-acre property development located in Noida, just …