Household debt almost doubles in 2017-18
According to the data released by the Reserve Bank of India (RBI), the indebtedness of Indian households nearly doubled in the year to March 2018, with their financial liabilities rising 80 per cent to Rs 6.74 lakh crore.
Machines will rule workplace by 2025 : WEF
According to a ‘Future of Jobs’ report by the World Economic Forum (WEF), in less than seven years, by 2025, machines are projected to overtake humans in workplace task hours in 12 key industry sectors.
Centre’s steps may not stop rupee sliding: economists
According to the economists, the recent measures announced by the government to address widening current account deficit and attract inflows to stabilise the currency may not yield result immediately and the rupee could be under further pressure.
Dairy Processing & Infrastructure Development Fund
Given the vast opportunities exist today for dairy entrepreneurs and in order to concretize these opportunities and help double the income of dairy farmers, Rs 51,077 crore, government launched the Dairy Processing & Infrastructure Development Fund (DIDF).
Cabinet clears new procurement policy
The Union Cabinet has approved a new Umbrella Scheme “Pradhan Mantri Annadata Aay SanraksHan Abhiyan’ (PM-AASHA).
Retail inflation eases to 3.69% in August
Continuing the slide for the second straight month, retail inflation eased to a 10-month low of 3.69 per cent in August due to base effect and a fall in prices in the food category, especially fruits and vegetables.
Centre hikes ethanol prices
In order to provide incentives for production of ethanol from sugarcane, government will offer a higher rate to those who produce 100 per cent ethanol from sugarcane, without producing any sugar.
Small loans could turn bad: Rajan
Former RBI Governor Raghuram Rajan has cautioned that the next crisis in India’s banking sector could come from loans given to the unorganised micro and small businesses, called MUDRA loans, and credit extended through the Kisan credit card.
RBI intervenes as rupee breaches 72.5 to dollar
A sustained fall of the rupee ”” it dropped another 72 paise Monday to a record low of 72.45 against the US dollar, as the current account deficit widened to five- year high in the first quarter of the current financial year, to $15.8 billion or 2.4%, of the GDP.
Finance Ministry crafting strategy to boost GST revenues
Alarmed by a nearly four-fold rise in GST compensation to states for June-July, the finance ministry is crafting a strategy to shore up tax revenue and engaging with states to identify issues hindering their collections.