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Live Mint September 14,2019 New Delhi:  From the looks of it, Finance minister Nirmala Sitharaman is likely to announce more measures on Saturday to arrest the economic slowdown that has beset the Narendra Modi administration’s second term. While it is not clear what these measures might be, one may presume that it has to do with the realty sector. This, because the Centre has been working on measures to boost growth in the housing and real estate sector, a major job creating industry, which has been grappling with record unsold inventory and poor sales. The press briefing on Saturday gains much heft with the Press Information Bureau tweet saying, "Press Conference by Union Finance Minister @nsitharaman to announce important decisions of the government." Mint  reported a government official, who requested anonymity, saying Sitharaman is expected to announce sector-specific solutions and targets. In recent weeks, the Centre has announced a slew of meas...

Live Mint September 14,2019   DUBAI:  Drones attacked the world's largest oil processing facility in Saudi Arabia and an oilfield operated by Saudi Aramco early Saturday, the kingdom's Interior Ministry said, sparking a huge fire at a processor crucial to global energy supplies. No one immediately claimed responsibility for the attacks in Buqyaq and the Khurais oil field, though Yemen's Houthi rebels previously launched drone assaults deep inside of the kingdom. It wasn't clear if there were any injuries in the attacks, nor what effect it would have on oil production in the kingdom. The attack also likely will heighten tensions further across the wider Persian Gulf amid a confrontation between the US and Iran over its unraveling nuclear deal with world powers. Online videos apparently shot in Buqyaq included the sound of gunfire in the background and flames shooting out of the Abqaiq oil processing facility. Smoke rose over the skyline a...

Hindustan Times September 13, 2019 Roshan Kishore India’s benchmark inflation measure, the Consumer Price Index (CPI) grew at 3.21% in August 2019, six basis points more than the 3.15% growth in July 2019. One basis point is one hundredth of a percentage point. Retail inflation has been growing steadily since January 2019, when it reached its second lowest value (under the new series) of 1.97%. To be sure, the headline inflation number is still less than the Reserve Bank of India’s comfort level of 4%, which guides India’s monetary policy. These numbers are also significantly less than what they were when the first Narendra Modi government completed 100 days in office. Annual growth in CPI was 6.39% in August 2014. However, there is a peculiarity to the current trajectory of   rising inflation in India . This is the growing divergence between urban and rural inflation. Since January 2012, the earliest period for which there is monthly inflation data under the current s...

The Quint Dated: September 14, 2019 New Delhi, Sep 13 (IANS) Commerce Minister Piyush Goyal's "gravity" gaffe refuses to die down. Former RBI governor Raghuraman Rajan on Friday launched a scathing attack on Goyal dissecting every word of his remark and saying that he fails to understand the "gravity" of economic slowdown. "When you don't understand the #GRAVITY of the economic slowdown, the words stumble and reasoning becomes feeble. If someone thinks that maths doesn't help understanding gravity and economics, then it's a sign that you are hiding the actual statistical data. Newton must be smiling," Rajan said in tweet. Goyal had on Thursday inadvertently erred in attributing the theory of gravity to Albert Einstein while asking the industry not to get into nitty gritties of calculations of economic growth, which requires a rate of 12 per cent to achieve the envisaged $5 trillion economy mark. While speaking at the Board ...