New Delhi

Oct factory output growth fastest in 11 months at 8.1%

India’s industrial output grew at an 11-month high of 8.1 per cent in October mainly on the back of mining, power and manufacturing sectors coupled with higher offtake of capital as well as consumer durable goods.

Industrial production measured in terms of index of industrial production (IIP) grew 1.8 per cent in October last year, as per official data released by the central statistics office (CSO) on Wednesday.

ADB retains India FY19 growth forecast at 7.3% despite downside risks

The Asian Development Bank on Wednesday retained India’s economic growth forecast at 7.3 per cent for the current fiscal and 7.6 per cent for 2019-20, despite downside risks posed by stress in the non-banking sector, limited fiscal space as well as escalating trade tensions.

Swamy objects to Das appointment, Chidambaram, too

BJP MP Subramanian Swamy has objected to the appointment of Shaktikanta Das as the new RBI governor for his “corrupt activities.” Swamy, who is an economist and lawyer, has reportedly written a letter to Prime Minister Narendra Modi alleging that Das worked closely in "corrupt activities" with P Chidambaram, his bete noire and senior Congress leader.

HDFC Ergo joins PMJAY after initial dithering

After showing reluctance over pricing issues, private general insurer Housing Development Finance Corporation (HDFC) Ergo has made a backdoor entry to the government’s flagship health scheme — Pradhan Mantri Jan Arogya Yojana (PMJAY) or Ayushman Bharat. Initially, HDFC Ergo was not ready to join the programme due to perceived under-pricing, which could have put additional financial burden on the company.

Patel's resignation highlights risks to RBI's policy priorities: Fitch

Fitch Ratings on Wednesday said the abrupt resignation of Urjit Patel (in pic) as Reserve Bank Governor highlights the risks to RBI's policy priorities, and increased government influence on the central bank could undermine the efforts to address bad loan problems.

It further said full implications of Patel's exit will only become clearer once there is some indication of the RBI's policy approach under his replacement, Shaktikanta Das, an experienced government bureaucrat.

Bharat 22 ETF, OFSs may help govt meet selloff goal

The government is hopeful of scraping through the Rs 80,000 crore disinvestment target of FY19 with the help of the PFC-REC deal, a third round of Bharat 22 exchange-traded fund (ETF) and few offer-for-sale (OFS) in select blue chip

companies, said a senior official.

Though the move to divest entire government (51 per cent) stake in Pawan Hans is in an advanced stage, it could not be possible in FY19, the official said. The remaining stake in Pawan Hans, which has a fleet of 46 choppers, is owned by state-run ONGC.

FinMin spells out its expectations from Das

With the change of guard at the Mint Street, the finance ministry expects better consultations and less rigidity in the decision-making by the Reserve Bank of India and may moderate its stance on the charter of demands where it seeks relief from the central bank.

The ministry is not seeking exemptions, but wants that global practices be followed in RBI regulations, said a senior official after the first press conference addressed by new governor Shaktikanta Das, who assumed charge on Wednesday.

Surjit Bhalla quits PM’s economic council

Economist Surjit Bhalla, who had faulted the Niti Aayog’s involvement in the release of re-stated economic growth numbers of the UPA government, has resigned as a member of the Prime Minister's Economic Advisory Council (PMEAC).

"I resigned as a part-time member of PMEAC on December 1," he said in a Twitter post.

He broke the news a day after Urjit Patel's unexpected resignation, as the RBI governor amid a standoff with the government over a range of issues.

Cong chief’s real test will be 2019

With the Congress set to snatch Rajasthan and Chhattisgarh from the BJP and locked in a neck and neck fight with the party in Madhya Pradesh, the challenge from Rahul Gandhi to the Narendra Modi-led government appears more serious than ever before, and is expected to reflect in 2019, say experts.

The gains for the Congress in the Hindi heartland states — exactly a year after Gandhi took charge of the grand old party — assume significance though the party suffered a severe drubbing in Telangana and Mizoram.

NOTA outperforms SP, AAP, NCP in five states

The NOTA or none of the above option appeared to have outperformed several political parties, including AAP and Samajwadi Party, which contested the assembly polls in the five states.

According to the electi­on commission’s website at 5.45 pm on Tuesday, the NO­TA votes ranged as high as 2.1 per cent in Chhattisg­a­rh to 0.5 per cent in Mizoram.

The Aam Aadmi Party (AAP), which fielded its candidates on 85 seats out of 90 seats in Chhattisgarh, got 0.9 per cent of votes while NOTA votes were 2.1 per cent of the counted votes in the state.

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