Economy

Date Heading Details
09-Dec-2019   12:40 Hrs IST India Inc's overseas borrowing rises to $3.41 billion in October: RBI <p align="justify">Indian companies borrowed $3.41 billion from overseas markets in the month of October 2019 as against $1.41 billion raised in October 2018. According to the Reserve Bank of India (RBI) data report, out of the total borrowings, $2.87 billion was through the automatic route of external commercial borrowing (ECB), while $538 million came in through the approval route of ECB. <br></p><p align="justify">In the ECB category, the major borrowers tapping the automatic route included Muthoot Finance ($400 million), HPCL-Mittal Energy ($300 million), Wardha Solar (Maharashtra) ($251 million), Larsen and Toubro ($200 million), Deccan Fine Chemicals ($140 million) and Aditya Birla Finance ($75 million).<br></p><p align="justify">Further, the data report found that only two companies tapped the approval route in October 2019 i.e.&nbsp; JSW Steel raised $400 million, while Shriram Transport Finance borrowed $138 million. No money was raised through the rupee-denominated bonds or the masala bonds during the month, nor in the year-ago period.<br></p>
09-Dec-2019   11:08 Hrs IST India's real GDP growth likely to slip below 5% in FY20: IHS Markit <p align="justify">IHS Markit in its latest report has said that India's real Gross Domestic Product (GDP) growth is likely to slip below 5 percent in the current financial year (FY20) as the impact of stimulus measures will take time to filter through to the economy. It noted that financial sector fragilities continue to weigh on the country's economic growth momentum, with the high level of non-performing loans on the balance sheets of the public sector banks (PSBs), constraining their new lending. <p align="justify">According to the report, there are also risks from potential contagion effects from troubled non-bank financial companies (NBFCs) to the balance sheets of some commercial banks, which could further weigh on the overall pace of credit expansion. It also said that confronted with the sharp slowdown in economic growth momentum, the government will face increasing pressure to roll out additional fiscal measures to bolster manufacturing output and kick-start an upturn in the investment cycle. It noted that such measures could include accelerated government spending on infrastructure projects such as roads, railways, and ports, as well as urban infrastructure such as affordable housing and hospitals. <p align="justify">Furthermore, the report stated that given that the process of strengthening bank balance sheets has been slow, taking a number of years already, India's financial sector problems are likely to remain a drag on the pace of economic growth over the medium-term outlook. Also, it said any turnaround in the investment cycle could also be relatively protracted, depending on the ability of the government to accelerate its own infrastructure spending program.&nbsp; </p>
09-Dec-2019   10:10 Hrs IST Startups going to play vital role in making India $5 trillion economy: Suresh Prabhu
09-Dec-2019   09:42 Hrs IST India in growth recession: Raghuram Rajan
09-Dec-2019   09:17 Hrs IST Govt working on more steps to revive sagging economy: Finance Minister
06-Dec-2019   12:44 Hrs IST RBI releases guidelines for on-tap licensing of small finance banks in private sector
06-Dec-2019   11:46 Hrs IST Rs 5 lakh crore business through GeM achievable in less than five years: Goyal
06-Dec-2019   10:49 Hrs IST India's air passenger traffic increases 3.6% in October: IATA
06-Dec-2019   09:58 Hrs IST Pradhan expresses hope for inclusion of ATF, natural in GST in upcoming Budget
06-Dec-2019   09:36 Hrs IST There is need for continued action on the policy rate front to boost growth: FICCI