Prime Minister Narendra Modi on Thursday asked the steel industry to come together to build a resilient, revolutionary and steel-strong India.
As the government forecasts a second consecutive year of above-average monsoon rainfall, the implications for India’s economy ~ and particularly its rural heartland ~ are profound.
"I am confident that within the next few years, we will be the third-largest economy in the world," the Union Home Minister said.
NITI Aayog CEO B V R Subrahmanyam on Thursday said the Indian economy will be bigger than Germany and Japan in the next three years.
India's central bank has once again stepped in with a measured response to the growing economic uncertainty by cutting the repo rate by 25 basis points, bringing it down to 6 per cent.
The contraction is ebbing with gradual normalisation in activities and expected to be short-lived.
The RBI also said that the NSO estimates for the second quarter expected at the end of November 2020 will formally bear out the extent of improvement that occurred in the quarter gone by.
The corporate sector will become "very careful about borrowings" and use their internal resources initially.
There is a wide gap between the technologies developed in the research institutions and their applicability at the farmers field. Awareness among farmers as to technologies must be created for better transfer of research technologies.
He further said that the central bank has asked all the banks and NBFCs to undertake stress test internally.
