New Delhi [India], October 12 (ANI): Trying to give a boost to the plummeting economy, Finance Minister Nirmala Sitharaman on Monday announced two proposals — Leave Travel Concession (LTC) Cash Voucher Scheme and Special Festival Advance Scheme — to stimulate consumer demand. This comes a few hours ahead of the […]
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India finance minister announces steps to boost consumer demand
NEW DELHI, Oct 12 (Reuters) – India’s finance minister on Monday announced steps to stimulate consumer demand including advance payment of a part of the wages of federal government employees for spending during the festival season, part of efforts to bolster the pandemic-hit economy. The government will also allow its […]
Finance Minister introduces LTC Cash Voucher Scheme and Special Festival Advance Scheme makes a one-time comeback
Finance Minister Nirmala Sitharaman introduced two schemes today to boost consumer spending in the Indian economy — the LTC Cash Voucher Scheme and the Special Festival Advance Scheme. The LTC Cash Voucher Scheme divides the LTC fare component into three flat-rate slabs. The new scheme will let employees use their […]
Finance Minister Sitharaman announces Rs12,000 crore interest-free 50-year loan to states, India News News
Finance Minister Sitharaman on Monday announced Rupees 12,000 crore interest-free 50-year loan to states for spending on capital projects. The initiative will bolster the pandemic-hit Indian economy by creating a consumer demand of about 280 billion rupees ($3.83 billion). Sitharaman said during a press conference, “The COVID-19 pandemic has adversely affected the economy. […]
Channel 4 could be scrapped or sold off as advertising revenues plummet, minister suggests
Channel 4 could be scrapped or sold off because a second publicly-owned broadcaster is no longer needed in the age of streaming services, the Government’s media minister has said. John Whittingdale said the advertising-funded model of Channel 4 was under “increasing strain” because of the advent of subscription streaming services […]
G H Bank to propose interest rate subsidy for homebuyers to next finance minister
The Government Housing Bank (GHB) will propose to the next finance minister schemes to support homebuyers affected by the Covid-19 crisis, a source said. The government may need to provide a one percentage point interest rate subsidy, paid directly to homebuyers, he said. Many customers of the bank have been […]
Czech finance minister sees 2020 budget gap below target, to keep taps open in 2021
PRAGUE, Oct 2 (Reuters) – The Czech central state budget deficit should come 20% below its amended 2020 target, provided the country can contain a new wave of coronavirus infections without shutting down the economy, Finance Minister Alena Schillerova said on Friday. Following several revisions to account for the coronavirus […]
Canada Nominates Former Finance Minister Morneau for OECD Post
(Bloomberg) — Prime Minister Justin Trudeau’s government officially nominated former finance minister Bill Morneau to be secretary general of the Organisation for Economic Cooperation and Development. The Canadian seeks to replace Angel Gurria, who announced in July that he would not seek a fourth term as chief of the Paris-based […]
New Zealand Minister of Finance defends country’s lockdown strategy despite recession
New Zealand’s Minister of Finance, Grant Robertson, came out in support of the country’s lockdown strategy despite the arrival of its first recession in years. The Financial Times reports that New Zealand’s GDP had fallen by 12.2 percent by the end of June, ushering the nation into one of the […]
Pandemic’s global economic impact unlikely to worsen, Qatar commerce minister says
FILE PHOTO: Qatar’s Minister of Commerce and Industry Ali bin Ahmed Al Kuwari speaks during the third annual U.S.-Qatar Strategic Dialogue at the State Department in Washington, U.S., September 14, 2020. REUTERS/Erin Scott/Pool DUBAI (Reuters) – The global economy is unlikely to worsen due to the coronavirus pandemic even as […]