Economy

Mumbai : Revenues of cotton spinners are set to decline 30-35% in the current fiscal, a six year low, because of tepid domestic and export demand following the Covid-19 pandemic. This along with inventory losses and lower profitability is…
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New Delhi: Union Minister for Road Transport, Highways and MSMEs Nitin Gadkari has called for increased investment by international institutions and bodies in the Indian Highways and MSME sectors. He said, automobile and MSME are the two…
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Bhubaneswar: Despite lockdown due to COVID-19, the Goods and Services Tax (GST) collection in Odisha has witnessed a positive growth rate for the first time during the current financial year in the month of July, said an official on…
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New Delhi: The World Bank and the Government of India today signed the $750 million agreement for the MSME Emergency Response Programme to support increased flow of finance into the hands of micro, small, and medium enterprises (MSMEs),…
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New Delhi: Union Petroleum and Natural Gas & Steel Minister Dharmendra Pradhan has stressed on enhancing domestic steel usage in the country and reducing import dependence for meeting oil & gas sector’s steel requirements.…
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Mumbai: Amid sluggish economic sentiment due to COVID pandemic, RBI Governor Shaktikanta Das today announced another 40 basis point cut in key lending rates. While the repo rate has been reduced to 4 percent, the reverse repo rate has been…
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New Delhi: Swiggy, one of the leading and most valuable online food ordering and delivery platforms in India, is planning to cut 1,100 jobs and scaling down some adjacent businesses in order to reduce costs, according to reports. The…
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Bengaluru: Zomato, one of the leading food delivery startups in India, announced that it will axe 13% of its workforce or about 520 employees in order to reduce costs amid the coronavirus crisis.  In a note to the Zomato employees,…
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MANILA, PHILIPPINES: The global economy could suffer between $5.8 trillion and $8.8 trillion in losses—equivalent to 6.4% to 9.7% of global gross domestic product (GDP)—as a result of the novel coronavirus disease (COVID-19) pandemic, says…
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New Delhi: The Centre on Thursday launched a special credit facility amounting to a total of Rs 5,000 crore that will provide street vendors Rs 10,000 as initial working capital. "Government of India will launch a special credit facility…
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