Red Tape Slows Rs 90,000 Crore Lifeline To Power Distributors: Report

[ad_1] Power Finance Corporation and REC disbursed a combined Rs 11,200 crore as of Tuesday. Two months after India announced a Rs 90,000 crore ($12 billion) loan program to aid power distributors punished by the pandemic, only a fraction has been utilized as many state applications have yet to meet the lending requirements, according to […]

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Nirmala Sitharaman Reviewed Economy At Financial Regulators Meeting

[ad_1] The FSDC is the apex body of sectoral regulators, headed by the finance minister. Finance Minister Nirmala Sitharaman on Thursday reviewed the state of the economy at the meeting of the Financial Stability and Development Council (FSDC), in view of disruptions caused by the COVID-19 pandemic. This was the first meeting of the FSDC, […]

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Nirmala Sitharaman Announces Reforms To Help Farmers Earn Better Prices

[ad_1] Nirmala Sitharaman announces measures as part of a mega stimulus amid coronavirus pandemic. New Delhi: The government will amend Essential Commodities Act to enable better price for farmers, Finance Minister Nirmala Sitharaman said today, in her third set of announcements on the mega economic stimulus to tackle the coronavirus crisis. Agriculture food stuff including […]

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Nirmala Sitharaman Announces Rs 1 Lakh Crore Boost For Agriculture Infrastructure

[ad_1] Finance Minister Nirmala Sitharaman said that the fund will be created immediately The government today announced Rs 1 lakh crore for strengthening the farm-gate infrastructure for farmers, in the third tranche of measures that are part of a mega stimulus to tackle the impact of the coronavirus crisis and weeks of lockdown. It also […]

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Government Enterprises Stocks Under Pressure

[ad_1] ONGC, NTPC, Powergrid, NMDC and Oil India were trading lower by 2-4 per cent each, on NSE. The shares of Central Public Sector Enterprises (CPSE) were under pressure on Thursday afternoon, a day after the Finance Minister Nirmala Sitharaman unveiled the first series of measures under the government’s “Atma Nirbhar Bharat” economic package. Nirmala […]

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Government Offers Soft Loans, Tax Concessions To Rescue Economy

[ad_1] The economy is on course for its first annual contraction in four decades The government announced collateral-free loans to some businesses and lowered tax rates for service providers as part of a Rs 20 lakh crore ($265 billion) package to rescue an economy hit by the coronavirus outbreak. Unsecured loans totaling Rs 3 lakh […]

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Government Hikes Market Borrowing Limit To Rs 12 Lakh Crore For FY21 Amid COVID-19

[ad_1] The government on Friday increased its market borrowing estimate by staggering Rs 4.2 lakh crore to Rs 12 lakh crore for the current financial year to deal with the expected shortfall in revenue due to the impact of COVID-19 crisis on the economy. The government resorts to market borrowing to make up for the […]

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PM Modi Meets Amit Shah, Nirmala Sitharaman Over 2nd Economic Stimulus Package: Report

[ad_1] PM Narendra Modi met Finance Minister Nirmala Sitharaman to discuss about the situation of the economy New Delhi: Prime Minister Narendra Modi today held a series of meetings with key ministers, including Home Minister Amit Shah and Finance Minister Nirmala Sitharaman, and officials of economic ministries to firm up the second stimulus package for […]

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Government Begins Fiscal Year Under Severe Strain Amid Biggest Lockdown

[ad_1] India kicks off its fiscal year with revenues under severe strain. A prolonged slowdown in the economy depressed tax collections in the financial year that ended Tuesday, latest official data show. As India now conducts the world’s biggest lockdown, budget pressures are set to worsen. Finance Minister Nirmala Sitharaman has already outlined a virus […]

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Government To Borrow Rs 4.88 Lakh Crore In First Half Of Financial Year 2021

[ad_1] The government will borrow Rs 4.88 lakh crore in the first half of fiscal 2020-21 starting April 1 to shore up resources amid a war it is wagging to contain economic fallout of coronavirus pandemic, DEA Secretary Atanu Chakraborty said on Tuesday. Finance Minister Nirmala Sitharaman had in her budget for 2020-21 pegged gross […]

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