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The government and RBI are working on inclusion of Indian sovereign bonds in global bond indices and it may become a reality by the second half of the next fiscal, Economic Affairs Secretary Tarun Bajaj said on Wednesday. The move would attract higher foreign flows as many overseas funds are mandated to track global indices. It will also help bring in large passive investments from overseas, as a result of which more domestic capital would be available for industry as crowding out would be reduced. "We are trying for the first half itself but if not in first half, it can maximum stretch to...

Budget bets big on growth: FM squeezes subsidies, raises capex again Braving the inevitable questions that will be asked by the bond markets and by rating agencies, the government has bet boldly on a growth revival providing India with favourable debt dynamics going forward. The deficit itself has been financed not just through an unprecedented expansion of market borrowing — which will be at Rs 9.6 trillion next year — but also through dipping heavily into the pool of small savings to the tune of almost Rs 48,000 crore over 2020-21 and about Rs 40,000 crore in 2021-22. Read more Spend, ...

Banks' NPAs decline to Rs 8.08L cr in September 2020 from Rs 10.36L cr in March 2018: Centre Top Searches Banks' NPAs decline to Rs 8.08L cr in September 2020 from Rs 10.36L cr in March 2018: Centre Banks' NPAs decline to Rs 8.08L cr in September 2020 from Rs 10.36L cr in March 2018: Centre PTI / Feb 2, 2021, 15:51 IST FacebookTwitterLinkedinEMail Up Next NEW DELHI: Non-performing assets (NPAs) or bad loans of the banking sector came down from a high of Rs 10.36 lakh crore at the end of March 2018 to Rs 8.08 lakh crore at the end of September 2020 due to various initiative of the government,...

Union Budget 2021, which was presented amid a global health crisis, was sketched with 6 pillars in focus. Among these, healthcare was the foremost agendum of Finance Minister Nirmala Sitha­raman’s Budget speech, and the sector was allocated a generous pie of the entire budgetary allocation. At Rs 223,846 crore, the sector's allocation jumped around 118 per cent over the Revised Estimate of the current fiscal year. Yet, stocks from the sector have been underwhelming at the bourses. The S&P BSE Healthcare index is up just 1 per cent on the BSE today, at 20,891.5 levels, as against an ove...

Notably transparent The Budget has taken a big step towards displaying a transparent set of numbers A welcome change in the Union Budget of 2021-22 compared to the past is the accent on transparency and credibility. There have been questions regarding the underlying growth assumptions of past Budgets, the practice of shifting large expenses off the Budget, show a lower borrowing number by making public sector enterprises borrow on the Centre’s behalf and so on. Finance Minister Nirmala Sitharaman has set a good precedent in many of these contentious areas this year, and it is hoped that th...