North East - The Purbottar

14 Feb

Wholesale Inflation Worsens To 3.1% In January Amid Economic Slowdown

editor0 CommentsNorth East

Wholesale inflation worsened to 3.1 per cent in January from 2.59 per cent in the previous month, government data showed on Friday. The release of official data on wholesale inflation - or the rate of increase in wholesale prices - comes at a time when the economy is staring at the worst pace of annual expansion in more than 11 years, and the central bank has paused further monetary easing after reducing the key rates by 135 basis points (1.35 percentage point) last year.The build-up inflation rate came in at 2.50 per cent so far this financial year, as against…

14 Feb

President Donald Trump To Woo Indian Executives During New Delhi Visit

editor0 CommentsNorth East

US President Donald Trump will meet executives of large Indian companies with interests in the United States as he looks to drum up investments during his visit to New Delhi this month.‌Executives of some of the companies expected to attend the meeting include Reliance Industries, diversified group Tata Sons and auto sector companies such as Bharat Forge, Mahindra and Mahindra and Motherson Sumi, industry and business sources told Reuters.President Trump is scheduled to make his first visit as president to India on February 24-25 during which he will travel to Prime Minister Narendra Modi's home state of Gujarat followed by…

14 Feb

A Peek Into The Lives Of Indian Street Dogs

editor0 CommentsNorth East

Bhalo theko is a short film starring Indian pariah dogs. It is directed by Saswati Bandyopadhyay and produced by Mise En Scene. It is created with original score by Prajna Dutta. "Being a documentary short film maker, I always feel that film is a better media to reach a larger section at a time. It's an appeal to our race to be empathetic to every lives of this planet. To aware Indian dog haters who are not compassionate of their own breeds, whichis no longer acceptable", says Saswati Bandyopadhyay, the director. Mr. Jesse Alk, being an ardent pariah dog lover…

11 Feb

Economic Growth Set To Bounce Back As Slump Bottoms Out: Sanjeev Sanyal

editor0 CommentsNorth East

The economic growth is poised to bounce back after slipping to a more than six-year low of 4.5 per cent in the July-September quarter as the government has taken measures to prop up investments and consumer demand, a top government adviser said."Corporate tax reductions, the Insolvency and Bankruptcy Code and the banking sector reforms have helped and will help propel growth further," Sanjeev Sanyal, principal economic adviser at the finance ministry, told Reuters.The Insolvency and Bankruptcy Code, introduced in May 2016, has helped banks to recover billions of dollars stuck in outstanding corporate loans and offer loans to new borrowers.

11 Feb

RBI Releases Draft Framework For New Payment System

editor0 CommentsNorth East

The Reserve Bank of India (RBI) on Monday published draft framework for authorisation of a new pan-India umbrella organisation for retail payment systems.The central bank has invited comments on the draft framework from all stakeholders by February 25.At present, National Payments Corporation of India (NPCI) is an umbrella organisation for retail payments systems.

11 Feb

Economy Not In Trouble; Green Shoots Visible, Says Nirmala Sitharaman

editor0 CommentsNorth East

Finance Minister Nirmala Sitharaman on Tuesday said the economy is not in trouble and green shoots are visible with the country moving towards a $5 trillion economy. Listing initiatives taken by the government, she said, increasing Foreign Direct Investment (FDI), rise in factory output and over Rs 1 lakh crore GST collection in the past three months are indications of green shoots in the economy.

08 Feb

Petrol Price Cut By 23-24 Paise Per Litre, Diesel By 25-27 Per Litre In Metros

editor0 CommentsNorth East

Petrol and diesel prices were reduced in metros on Saturday, February 8 - a third straight day of downward revision. While the price of petrol was lowered by 23-24 paise per litre in Delhi, Mumbai, Kolkata and Chennai, the rate of diesel was brought down by 25-27 paise per litre, according to data from Indian Oil Corporation. The prices of petrol and diesel have been lowered more than 3 per cent each in the four metros so far this year.

08 Feb

Importers Call Strike Against Toy Duty Hike, Say 1 Lakh Retailers To Be Impacted

editor0 CommentsNorth East

More than one lakh retailers across the country will be hit by a three-fold hike in duty, according to toy importers who went on strike on Saturday. In the Union Budget for financial year 2020-21, the government proposed to raise the import duty applicable to toys from 20 per cent to 60 per cent, saying that the step would support micro, small and medium enterprises (MSMEs), and promote local manufacturing.Protesting against the move, the toy wholesalers of the city went on a one-day strike, contending that the import duty hike will result in the closure of businesses and a spurt…

08 Feb

How Stock Markets Read Budget 2020, RBI Policy Review This Week

editor0 CommentsNorth East

Domestic stock markets rallied this week with benchmark indices clocking gains of nearly 4 per cent after the February 1 Budget announcements triggered their worst single-day fall in at least 17 months. The S&P BSE Sensex index registered a gain of 1,406.32 points (3.54 per cent) for the week while the broader NSE Nifty benchmark added 436.5 points (3.74 per cent). That marked the biggest weekly gain for the 30-scrip benchmark index since March 2019. Analysts say that the Budget may support the economy in the long term, even though it fell short of near-term market expectations.

07 Feb

Lockheed Martin Inks Pact With BEL To Explore Opportunities For F-21 Fighter

editor0 CommentsNorth East

US defence giant Lockheed Martin on Friday inked an agreement with the state-run Bharat Electronics Limited (BEL) to explore opportunities in the F-21 fighter jet programme.Lockheed Martin has exclusively offered its F-21 military aircraft to India, with an eye to bag the Indian Air Force's $18 billion dollar deal to procure 114 jets."Lockheed Martin signed a memorandum of understanding (MoU) with defence PSU BEL to explore industrial opportunities in the F-21 programme at DefExpo 2020," the company said in a statement.