Govt pegs fiscal deficit at 6.8% in FY22
New Delhi: Finance Minister Nirmala Sitharaman on Monday said the government estimates fiscal deficit of 6.8 per cent of the gross domestic product (GDP) in the next financial year beginning April 1. However, the fiscal deficit in 2020-21 is estimated to soar up to 9.5 per cent due to rise in expenditure on account of the outbreak of Covid-19 and moderation in revenue during this fiscal year.
India’s manufacturing sector strengthens
New Delhi: India’s manufacturing sector activity strengthened in January as companies scaled up production at the quickest pace in three months in response to faster expansions in total sales and new export orders, a monthly survey said on Monday.
Sebi to be notified as gold exchange regulator: FM
New Delhi: The Government on Monday said capital market watchdog Securities and Exchange Board of India (Sebi) will be the designated regulator for gold exchanges, which will infuse transparency in gold transactions.
Bank credit grows by 6.36%, deposits by 11.41%
Mumbai: Bank credit grew 6.36 per cent to Rs 106.41 lakh crore, while deposits increased by 11.41 per cent to Rs 146.25 lakh crore in the fortnight ended January 15, RBI data showed.
In the fortnight ended January 17, 2020, bank credit was at Rs 100.04 lakh crore and deposits stood at Rs 131.27 lakh crore.
Edible oil industry welcomes agri cess
Mumbai: The edible oil industry on Monday welcomed the announcement of agricultural development cess and the increase in import duty of crude palm oil in the Union Budget 2021-22, saying that the measures are expected to protect the interests of mustard farmers.