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Category: Economy

India unveils $40 billion credit line for small businesses

NEW DELHI – India will offer bank loans amounting to 3 trillion rupees ($39.85 billion) to small businesses, Finance Minister Nirmala Sitharaman said on Wednesday, as part of measures to combat the damage caused by the coronavirus outbreak. Under the plan, the government will provide a credit guarantee […]

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Mumbai slum-dwellers by the sea live at the mercy of climate change

MUMBAI – Already at risk from rains, flooding and open sewers, slum-dwellers who live by the ocean in the Indian financial capital Mumbai are vulnerable to rising seas caused by global warming and say the government should help them move to safer locations. Thousands of people, mostly migrants […]

Auto stocks tumble up to 9 pc as sales in India see sharpest fall in 19 yrs in July

New Delhi, Aug 13: Auto stocks tumbled up to 9 per cent on Tuesday after industry body SIAM reported that automobile sales in India witnessed sharpest decline in nearly 19 years in July, dropping 18.71 per cent, rendering almost 15,000 workers jobless over the past two-three months. Shares of […]

India’s growth may decelerate further despite election spending

NEW DELHI/MUMBAI – Billions of dollars of pre-election spending by the Indian government and political parties in the next two months is unlikely to stop the nation’s economy from slowing further, economists said. Asia’s third-largest economy lost momentum in the final quarter of 2018, as the annual rate […]

GDP growth slows to 5-quarter low of 6.6 pc in Q3

New Delhi, Feb 28: India’s economic growth slipped to a 5-quarter low of 6.6 per cent in October-December period of 2018-19, mainly due to poor performance of farm, mining and manufacturing sectors, official data showed Thursday. However, India retained the tag of the fastest growing major economy as China […]

India risks missing budget gap target for fiscal year, data shows

NEW DELHI – India risks missing its budget deficit target for the current fiscal year, data released on Thursday suggested, and economists said the government had already started to cut capital spending in an attempt to narrow the gap. The data showed the fiscal deficit in the April-November […]

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