Government of India not considering gold amnesty scheme

The government is not considering any gold amnesty scheme as part of efforts to unearth unaccounted wealth stashed in the form of yellow metal, PTI reported, citing official sources. The clarification comes amidst media report indicating the government move to launch amnesty scheme that will allow individuals and entities to declare their unaccounted gold holding […]

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IMF retains India’s FY20 growth forecast at 7.5%; CRISIL predicts a modest recovery at 7.3%

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The International Monetary Fund (IMF) has retained its growth projection for Indian economy at 7.5 per cent for 2019-20 and said it is likely to accelerate to 7.7 per cent in 2020-21. This comes on a day when China announced that its GDP recorded its lowest growth rate in 28 years at 6.6 per cent […]

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ADB lowers India’s 2017 growth to 7% as challenges rise

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India’s growth moderated in the first quarter of fiscal year (FY) 2017 due to lingering effects from demonetisation and transitory challenges related to the new goods and services tax (GST) regime, the Asian Development Bank (ADB) said, adding that weakness in private consumption, manufacturing output, and business investment had resulted in lowering the short-term growth […]

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India’s economic growth in Q1 slows to 3-year low of 5.7%

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India’s economic growth decelerated to a three-year low of 5.7 percent in the June quarter of financial year 2017-18 against 6.1 percent in the preceding quarter, and the finance minister said the latest data throws up challenges for the economy. The growth rate, which was nerly 8 percent in the same quarter last year, fell […]

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Gold demand In India expected to revive in 2017 to 650-750 tonnes: WGC

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Gold demand in India is expected to revive this year after touching seven-year lows in 2016, the World Gold Council (WGC) has said in a report outlining the reasons and consequences of domestic gold demand prospects. India’s gold demand has fallen sharply in the past, but has then recovered. Previous attempts by the authorities to […]

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India’s organised jewellery retailers to benefit from regulatory changes; exporters continue to face headwinds

India’s gold jewellery demand is likely to increase 17 per cent in 2017 on a bounce-back after demonetisation, India Ratings and Research (Ind-Ra) said in a report. It forecast India’s gold jewellery demand at 600 tonnes in 2017, which is equivalent to the last five years’ average. The World Gold Council (WGC) estimated India’s gold jewellery demand […]

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Indian economy up after demonetization; steps to leverage revealed incomes and wealth unknown – Moody’s

Moody’s Investors Service said it expects Indian economic growth to continue to pick up as liquidity conditions normalize, supporting expectations that the economic disruption caused by demonetization will be short term in nature. Moody’s conclusions were contained in its just-released report on Indian credit, “Economic Slowdown from Demonetization Wanes; Credit Implications Unfolding”. The Indian government […]

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Strong growth has raised incomes and reduced poverty in India, but challenges remain, OECD

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The Indian economy is expanding at a fast pace, boosting living standards and reducing poverty nationwide, but further reforms are now necessary to maintain strong growth and ensure that all Indians benefit from it, according to a new report from the OECD. The latest OECD Economic Survey of India finds that the acceleration of structural reforms and […]

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Indian farmers’ groups petition for better minimum support price for kharif crops

Several farmers’ group from across the country have jointly urged the Commission for Agricultural Costs and Prices (CACP) to recommend a remunerative minimum support price for kharif crops. The farmers want the CACP to conduct a special study on how the government’s decision to remove high currency notes from the financial system has impacted agriculture […]

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