Indian economy According to the latest predictions provided by the International Monetary Fund on Tuesday, India’s economy will rise by 9.5 percent in 2021 and 8.5 percent in 2022, after contracting by 7.3 percent owing to the Covid-19 pandemic.The newest World Economic Outlook growth prediction for India is unchanged from the last WEO (World EconomicContinue reading “According to the IMF, India’s economy would rise by 9.5 percent in 2021.”
Category Archives: Finance
The head of the World Bank has called for ‘comprehensive’ debt relief for developing countries.
Economy(Accountancy) Net inflows of $117 billion from multilateral creditors to low- and middle-income countries are expected in 2020. Due to the pandemic, debt loads in low-income nations increased by 12% to a record $860 billion in 2020, causing World Bank President David Malpass to call for a “comprehensive plan” to address the problem on Monday.
Over ten crore Indians possess cryptocurrencies, making it the world’s largest market.
Technology (cryptocurrency) Even while investors await the official ruling on cryptocurrency exchanges in India, Indians are exceeding the rest of the globe in terms of bitcoin adoption.According to the annual crypto proliferation index produced by the web BrokerChoose, India has the greatest number of crypto owners in the world, with over 10 crore, followed byContinue reading “Over ten crore Indians possess cryptocurrencies, making it the world’s largest market.”
The Reserve Bank of India is looking to raise warning flags about decentralised financial applications.
Finance (cryptocurrency- Digitalized money) According to two persons familiar with the situation, the Reserve Bank of India (RBI) is trying to red flag DeFi (decentralised finance) applications and initiatives and has sought legal guidance on how they function. According to legal experts, India presently lacks any regulations governing cryptocurrency, much alone something as disruptive asContinue reading “The Reserve Bank of India is looking to raise warning flags about decentralised financial applications.”
The Senate approves a short-term agreement to raise the debt ceiling and avoid an economic crisis
Debt ceiling (Senate-washington,D.C) The U.S. Senate has approved an agreement to extend the government’s debt power until December. Experts say a compromise between Republican and Democratic leaders will temporarily avoid an unprecedented federal mistake.
Today’s RBI Monetary Policy: Will the RBI keep up the Status Quo yet again?
Banking (India) The Monetary Policy Committee (MPC) led by Reserve Bank Governor Shaktikanta Das will announce its policy decision today, October 8, at the conclusion of the 3-day bi-monthly review meeting. To support growth, the monetary policy committee is widely expected to maintain the status quo on the repo rate, but some analysts see aContinue reading “Today’s RBI Monetary Policy: Will the RBI keep up the Status Quo yet again?”
Centre grants Rs 40,000 crore to States/UTs to address GST compensation shortfall
GST compensation To offset the shortfall in goods and services tax compensation, the Centre on Thursday provided Rs 40,000 crore to the States and UTs with Legislature through a back-to-back loan facility. The total money disbursed to states now stands at Rs 1,15,000 core.
Senate Nears Short-Term Debt Ceiling Deal, Punts Further Action to December
Economy(United States-debt ceiling) After a weekslong standoff, GOP Leader Mitch McConnell offered a two-month fix to the debt ceiling and Democrats appeared ready to accept. Senate Majority Leader Charles Schumer leaves a Democratic Senate caucus meeting at the U.S. Capital on October 6, 2021 in Washington, DC. Congress has until October 18 to raise theContinue reading “Senate Nears Short-Term Debt Ceiling Deal, Punts Further Action to December”
Pre-budget meeting with departments will begin on October 12th.
Financial estimation of India From Tuesday, the union finance ministry will hold pre-budget meetings with several departments to finalise their FY22 revised estimate (RE) and FY23 budget estimate (BE) Ceilings for all categories of spending, including central sector and centrally supported initiatives, will be reviewed with departments during the meetings.
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