Statement on Developmental and Regulatory Policies sets out various developmental and regulatory policy measures relating to (i) liquidity measures; (ii) financial markets; (iii) payment and settlement systems and (iv) regulation and supervision.
Tag: Economy
RBI’s Monetary Policy Committee (MPC) had began its three-day deliberations on February 8th instead of 7th due to Maharashtra government’s decision to declare February 7 as a public holiday to mourn the passing of the singing legend Lata Mangeshkar.
The RBI has decided to continue its accomodative stance and has kept repo rate unchanged at 4 percent and reverse repo rate unchanged at 3.35 percent. The Reserve Bank of India has projected real GDP Growth at 7.8 percent for fiscal year 2022-23.The CPI inflation projection has been retained at 5.3% for FY 2021-22 and 4.5% for FY 2022-23.
India’s economic growth in the current year is estimated to be 9.2 per cent, highest among all large economies. The overall, sharp rebound and recovery of the economy from the adverse effects of the pandemic is reflective of our country’s strong resilience. This was stated by Union Minister for Finance and Corporate Affairs Smt Nirmala…
FM Nirmala Sitharaman presented Union Budget 2022 in Parliament. While keeping the Income Tax Slabs unchanged, FM announced a major change in taxation as far as virtual digital assets are concerned. Union Finance Minister Nirmala Sitharaman proposed a 30 per cent tax on income from transactions in such assets. Furthermore, FM Also proposed Gati Shakti Programme which will boost infrastructure and create more jobs. On education sector, FM has announced launch of a new Digital University as well as expansion of PM eVIDYA with addition of new TV channels for supplementary education.
The Economic Survey 2021-22 was tabled in Parliament on Monday by Finance Minister Nirmala Sitharaman soon after the President’s address to both Houses of Parliament. The survey, presented a day before the Union Budget, underlines the state of the economy and outlines suggestions for policy actions.
Statement on Developmental and Regulatory Policies Statement sets out various developmental and regulatory policy measures relating to (i) regulation and supervision; (ii) financial markets; and (ii) payment and settlement systems.
V-shaped economic recovery remains intact. India is poised for an even faster recovery in the next three quarters of FY22,” the monthly economic report by the economic affairs department
The government has unveiled a four-year National Monetisation Pipeline worth an estimated Rs 6 lakh crore. What is the government’s plan, which are the assets listed, and will there be challenges?
Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman today on 25th August 2021 unveiled the fourth edition of the Public Sector Bank (PSB) Reforms Agenda ‘EASE 4.0’ for 2021-22 – tech-enabled, simplified, and collaborative banking. She unveiled the annual report for the PSB Reforms Agenda EASE 3.0 for 2020-21 and participated in the awards ceremony to felicitate best performing banks on EASE 3.0 Banking Reforms Index.
In an unscheduled address, the Governor said that the situation in the country has reversed from being on foothills of strong economic recovery to facing a fresh crisis.
The Reserve Bank of India (RBI) on May 5 announced several measures to protect small and medium businesses, individual borrowers from the adverse impact of the intense second wave of COVID-19 across the country.
It has also made provisions for banks to advance loans to businesses and restructure loans for enhancing liquidity in the system to help mitigate the crisis.
The RBI announced a Resolution Framework 2.0 for COVID-related stressed assets of individuals, small businesses and MSMEs and also expressed its resolve to do everything at its command to ‘save human lives and restore livelihoods through all means possible’.
Considering that the resurgence of COVID-19 pandemic in India has made individual borrowers, small businesses and MSMEs most vulnerable, the RBI has allowed borrowers i.e. individuals and small businesses and MSMEs having aggregate exposure of up to ₹25 crore, who have not availed restructuring under any of the earlier restructuring frameworks (including under the Resolution Framework 1.0 dated August 6, 2020), and who were classified as ‘Standard’ as on March 31, 2021, eligible to be considered under Resolution Framework 2.0.