India rejects RCEP e-commerce Chapter
Indian negotiators declined to agree to the e¬-commerce chapter of the Regional Comprehen¬sive Economic Partnership(RCEP) agreement.
Moody’s pegs India’sFY20 GDP growth at 5.8%
Moody’s Investors Service cut its growth forecast for India for the fiscal year that began in April to 5.8% from 6.2%.
Effect of global slowdown in India
As per the IMF, the world economy is experiencing a “synchronized slowdown”.
National e-Assessment Centre (NeAC)
The income tax department rolled out faceless e-assessment scheme that eliminates physical interface between an assessing officer and an assessee.
Fund flows to commercial sector
Amid the slowdown in the economy, overall financial flows to the commercial sector have declined sharply, by around 88 per cent, during the first six months of the current financial year.
Rate cut to spur growth
Reserve Bank of India (RBI) announced another repo rate cut.
Microfinance Institutions
Reserve Bank of India has decided to raise the household income limit of borrowers to ₹2 lakh for urban and semi urban areas from Rs 1.6 lakh.
Bharat 22 ETF Further Fund Offer
The Further Fund Offer 2 (FFO 2) of Bharat 22 Exchange-Traded Fund (ETF), will open for subscription for anchor investors and non-anchor investors.
Current account deficit shrinks
As per the recent RBI data, the country’s current account deficit (CAD) narrowed to 2% of GDP, or $14.3 billion, in the first quarter.
Crude oil imports
India’s crude oil imports from the U.S. have jumped by over 72% in the first five months of the current fiscal.