Under a worse-case scenario, the region could suffer its sharpest downturn since a devastating currency crisis more than two decades ago, the bank said in an updated forecast released Monday.

The total revenue receipts are estimated at Rs 38,439 crore whereas the total revenue expenditure is estimated to be Rs 39,123 crore, leaving a revenue deficit of Rs 684 crore.

The Commerce and Industry Ministry in its budget recommendations has proposed rationalisation of basic customs on over 300 items across sectors including furniture, chemicals, rubber, coated paper and paper boards.

Raghuram Rajan said the Modi government has shown "surprising timidity" when it comes to unfinished reforms on the business environment, land acquisition, labour and the role of the public sector.

The Sena used the famous dialogue to raise questions over what it termed as the 'gloomy' picture of the Indian economy.

Raghuram Rajan reflected on his worry for the slowdown in the economy, which he said he hoped was cyclical but feared it may be more than that.

The GST Council, headed by Union Finance Minister Nirmala Sitharaman and comprising representatives of all states and Union Territories (UTs) is to meet in the backdrop of economic growth hitting a 6-year low of 5 per cent for the first quarter of the current fiscal.

There have been demands pouring in from various sectors - from biscuits to automobiles and FMCG to hotels - to reduce tax rates in the wake of an economic slowdown.

The International Monetary Fund (IMF) in July projected a slower growth rate for India in 2019 and 2020

Rahul, in a sarcastic tweet, first congratulated Prime Minister Narendra Modi for completing 100 days and then targeted him for the economic slowdown the country is facing today.

Mentioning that reducing pollution is in the national interest, Minister of Road Transport and Highways Nitin Gadkari said that it was not correct to blame only vehicles for the problem of pollution

The Bombay Stock Exchange’s BSE Sensex saw a sharp fall of 2.06 per cent or 769.88 points to 36,562.91 at the close, indicating investor’s reaction to the gloomy news on the overall economy and manufacturing in particular.

Former Prime Minister Manmohan Singh comments came in the wake of recently released official GDP growth numbers that show that India's economy grew at just 5% in the month of April-June 2019.

The Reserve Bank of India had on Monday approved the transfer of a record Rs 1.76 lakh crore dividend and surplus reserves to the government, boosting the BJP-led regime's prospect of stimulating the slowing economy without widening the fiscal deficit.

The Congress reaction came a day after the Reserve Bank of India (RBI) approved the transfer of a record Rs 1.76 lakh crore dividend and surplus reserves to the government, boosting the BJP-led regime's prospect of stimulating the slowing economy without widening fiscal deficit.

While the finance ministry has so far not detailed the blueprint of using the surplus from the RBI, experts said the transfer especially the excess reserve of over Rs 50,000 crore could be utilised for capital formation by investing in infrastructure building or enhancing the lending capacity of banks by recapitalising them.

In ominous signs that the slowdown may be deep, the auto sector is facing its worst crisis in two decades with reports suggesting thousands of job losses in the automobile and ancillary industry, real estate sector has huge unsold inventory, while fast-moving consumer goods (FMCG) companies have reported a decline in volume growth.

Internet shutdowns in India happen on a local level, with states like Rajasthan, Gujarat, Haryana and Jammu Kashmir accounting for about 75% of all shutdowns between 2012 and 2017.

Agriculture being a state subject, better implementation at the grassroots level with a dedicated pool of functionaries and enhanced usage of technologies can bring in desired outcomes, writes Arabinda K Padhee.

In her budget speech, Sitharaman invited suggestions for further opening up of FDI; entering into aircraft financing, adopting suitable policy interventions for providing an enabling ecosystem for maintenance, repair, and overhaul of aircraft; and re-initiating disinvestment of Air India.