Economic slowdown is real, not just technical: SBI Research

Noting that the economy has been on a downslide since September 2016, SBI Research said on Tuesday the slowdown is real and not technical, and called for more public spending to arrest the slide. “We certainly believe that we are in a slowdown mode since September 2016 and a slowdown…

Two Indian renewable power producers plan to sell $750 million in domestic bonds

Two of India’s biggest renewable energy companies, Greenko Group PLC and ReNew Power Ventures Pvt Ltd, plan to sell a combined $750 million worth of rupee-denominated bonds in the domestic market, three bankers told Reuters on Tuesday. The pair turned to the domestic market after the central bank introduced limits…

US defence firms want control over technology in Make in India plan

US defence firms offering to set up production lines in India to win deals worth billions of dollars want stronger assurances they won’t have to part with proprietary technology, according to a business lobby group’s letter to India’s defence minister. These companies are also saying they shouldn’t be held liable…

Arun Jaitley lists three gains from demonetisation

Increase in volume of digital transactions, widening of tax base and squeezed circulation of high denomination currency were the real measures of success of demonetisation, finance minister Arun Jaitley said on Monday. The success of the November 2016 note ban came under attack after the Reserve Bank of India revealed that almost 99%…

Digital payment bound to pick up with new technology: Jaitley

Finance minister Arun Jaitley on Monday expressed hope that digital payment is going to pick up momentum with more advanced technology coming into the market. A lot of people went in for digitisation in terms of mode of payment more out of compulsion rather than finding it a more convenient…

Centre eyes cuts in spending as glitches in GST hit revenue

India could be forced to cut spending on key infrastructure such as railways and highways as lower-than-expected tax collections and sluggish growth have upset the government’s budget calculations, two finance ministry officials said. Tax receipts were about $7.8 billion in July – a little over half the monthly target –…