ECONOMY

Monthly Archives: AUGUST 2019


Say good bye to $5-trillion economy: Subramanian Swamy
GDP DOWNFALL
31.08.19 - Team PT

Bharatiya Janata Party leader Subramanian Swamy on Saturday said that the country may not reach its target of being a $5-trillion economy if "no new economic policy is forthcoming”. Swamy’s comments followed the news of India’s Gross Domestic Product growth falling to 5% ...
  


10 public sector banks to be merged into four
30.08.19 - Team PT

Finance Minister Nirmala Sitharaman today announced a big consolidation of public sector banks: 10 public sector banks to be merged into four. Under the scheme of amalgamation, Indian Bank will be merged with Allahabad Bank; PNB, OBC and United Bank to be merged (PNB will ...
  


PM Modi asks NHAI to stop constructing highways
DEBT BALLOONED ALMOST SEVEN-FOLD
30.08.19 -

India’s path to economic recovery faces another obstacle, with Prime Minister Narendra Modi asking the state road builder to stop constructing highways after its debt ballooned almost seven-fold over the past five years.

"National Highways Authority of India totally logjammed with an unplanned and excessive expansion ...
  


Parle Products may cut up to 10,000 jobs as slowdown bites
EVEN RS 5 BISCUITS PACKS AREN'T SELLING
21.08.19 - Team PT

Parle Products Pvt Ltd, a leading Indian biscuit-maker, might lay off up to 10,000 workers as slowing economic growth and falling demand in the rural areas could cause production cuts, a company executive said on Wednesday.

A sharp drop in Parle's biscuit sales means the company ...
  


Patience is finally wearing thin
THE WOBBLY ECONOMY
21.08.19 -

 
Patience is finally wearing thin. The resigned shrug with which Indian industry once responded to the flow of dismal high-frequency data from various sectors of the economy has started to give way to muffled expressions of disquiet over the Narendra Modi government’s fumbling efforts to ...
  


CBI books NDTV’s Prannoy Roy, Radhika Roy and others for alleged FDI norms violation
21.08.19 - Team PT

The CBI has booked NDTV promoters Prannoy Roy and his wife Radhika Roy, and others in connection with alleged violation of foreign direct investment (FDI) rules, officials said on Wednesday.
 
The agency has also booked the media outlet’s former CEO Vikramaditya Chandra under charges of criminal ...
  



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