January 26, 2020

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INDIAN ECONOMY

Indian growth slowdown temporary, expect momentum to improve: IMF chief

IMF chief Kristalina Georgieva on Friday said growth slowdown in India appears to be temporary and that she expects the momentum to improve going ahead. The world appears a bett...

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US pushes India to buy $5-6 billion more farm goods to seal trade deal: Report

The United States wants India to buy at least another $5-6 billion worth of American poultry and farm goods if New Delhi wants to win reinstatement of a key U.S. trade concession, ...

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Fiscal deficit may widen to 3.8% for current financial year: Report

The country's fiscal deficit for 2019-20 is expected to widen to 3.8 per cent and the upcoming Budget may set a target of 3.5 per cent for 2020-21, a report said on Friday. The fir...

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Indonesia to increase imports from India amid New Delhi-Malaysia spat: Sources

Indonesia has agreed to immediately increase imports of Indian buffalo meat, sugar and auto parts after India boosted purchases of Indonesian palm oil amid a spat with rival suppli...

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India likely to fund some $28 billion of 2020/21 expenditure via off-budget borrowings: Sources

India is likely to fund roughly $28 billion of its expenditure outlay in its budget for fiscal 2020/21 via off-budget borrowings, three government sources said, as it seeks to revi...

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India can end up with five per cent real GDP growth this fiscal : Bibek Debroy

India can end up with a real GDP growth of five per cent this financial year excluding the inflation rate, Bibek Debroy, the chairman of PM's Economic Advisory Council said on Frid...

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PDS biggest saver for government in DBT in 2019-20

The Public Distribution System (PDS) has brought the biggest savings under Direct Benefit Transfer (DBT) of subsidies so far in the ongoing fiscal year, accounting for nearly 70% o...

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Shaktikanta Das on slowdown: Monetary policy has limitations; these 2 measures can revive growth

RBI Governor Shaktikanta Das on Friday said that since monetary policy has its limitations, structural and fiscal reforms are needed to boost growth. It comes days after the first ...

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MARKET & FINANCE

India’s forex reserves touch life-time high of USD 462.16 billion

The country’s foreign exchange reserves rose USD 943 million to touch a life-time high of USD 462.16 billion in the week ended January 17, according to the latest data from the RBI...

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GLOBAL CORPORATE

Now, Czech govt pushing ahead with tax on Google

The Czech government is pushing ahead with a plan to impose one of the highest taxes on global Internet companies, brushing aside the threat of US retaliation that prompted France ...

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UK 'to decide on Huawei 5G next week'

Britain is expected to announce next week whether to allow China's Huawei to develop its 5G network, an official said Friday, amid indications it will agree to grant at least limit...

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INCOME TAX

India faces first fall in direct taxes in at least two decades

India's corporate and income tax collection for the current year is likely to fall for the first time in at least two decades, over half a dozen senior tax officials told Reuters, ...

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Speedy resolution of tax disputes an incentive for taxpayers: CJI SA Bobde

Chief Justice of India S A Bobde on Friday made a case for speedy resolution of tax disputes saying it will act as an incentive for taxpayers and free the funds locked in litigatio...

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Employers to deduct 20% TDS from your salary if these details are not furnished

Your employer could soon start deducting 20 per cent of your salary in case you fail to provide your PAN (Permanent Account Number) and Aadhaar details to them. This latest rule of...

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PRE-BUDGET

ET Explains: Six ways in which the Budget can turn the economy around

The upcoming Budget is being presented in the backdrop of a slowing economy and rising inflation. Concerns over India slipping into stagflation have taken centre stage. The first a...

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GLOBAL ECONOMY

Trade Report
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Donald Trump to sign trade accord with Mexico, Canada next week: White House

US President Donald Trump will sign the new North American trade pact with Mexico and Canada next week, a White House official said Thursday. The USMCA, the fruit of years of negot...

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China’s digital yuan could help countries like North Korea evade US sanctions, experts say

A digital yuan could allow some countries to avoid U.S. sanctions and increase the Chinese government’s influence, experts told CNBC. The People’s Bank of China is working on a ...

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ECB policy review an opportunity to ‘reconnect with citizens,’ Dutch central bank chief says

A new policy review launched Thursday will help the European Central Bank (ECB) to reconnect with the public, according to ECB Governing Council member and Dutch central bank Presi...

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Abating uncertainties on trade, Brexit to help global growth: Lagarde

European Central Bank President Christine Lagarde on Friday hoped global growth will get a boost from abating uncertainties on trade issues in the wake of new pacts being signed. ...

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WEF 2020 meeting ends with hopes for better and cleaner economy

Global leaders expressed hope for better economic growth with lesser trade tensions and a safer planet with commitments to work in areas like climate change, as the 50th annual mee...

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‘If you want to put a tax on people, go ahead’: Lagarde and Mnuchin clash over energy transition

The president of the European Central Bank, Christine Lagarde, and U.S. Treasury Secretary Steven Mnuchin laid bare their stark differences over how the world should transition to ...

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INDIAN CORPORATE

UP cabinet clears subsidy for Patanjali's Rs 6,000 crore food park in Greater Noida

The Uttar Pradesh cabinet has announced subsidy for Patanjali's food park in Greater Noida. According to an official statement by the UP government, the proposed park is expected t...

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Petroleum regulator seeks to cancel licence of Adani Gas over non-disclosure

Petroleum and Natural Gas Regulatory Board has reportedly issued showcause notices to Adani Gas over non-disclosure of crucial information during bidding process for city gas distr...

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Air India trims losses by 40% in run-up to disinvestment

Air India Ltd narrowed its operational losses between April and December by over 40%, ahead of the planned sale of the state-run carrier, which is expected to kick off next week, t...

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SEBI

New India Assurance settles insider trading case with Sebi, pays over Rs 62 lakh

State-owned New India Assurance Company Ltd has settled with markets regulator Sebi a case of alleged violation of insider trading norms by paying over Rs 62 lakh towards the settl...

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