Page 11 - India Economy

Farm sector set to grow at 3.9% in FY22: First advance estimates

The gross value added (GVA) in agriculture and allied activities in FY22 is slightly higher than the long-term average for the sector which is 3-4 per cent

Karad slams Thackeray, Maharashtra FM for not attending pre-budget meetings

MoS Finance Bhagwat Kishanrao Karad slammed Maharashtra CM Uddhav Thackeray and State FM Ajit Pawar for not attending pre-budget consultation meetings called by Nirmala Sitharaman

RBI rate hikes, policy normalisation inevitable as inflation surges: Nomura

Central bank has worked to keep borrowing costs at a record low to ensure a durable economic recovery in the face of risks from the omicron coronavirus variant.

Services PMI moderates to three month low in December amid Omicron fears

Data released by the analytics firm IHS Markit showed that the Purchasing Managers' Index (PMI) for services fell to 55.5 in December from 58.1 in November.

India's services growth slows in December as inflation pressures persist

Business confidence was at a four-month high in December on robust demand, yet rising coronavirus infections kept it in check

Indian factories end 2021 on strong note despite dip in momentum in Dec

The PMI survey results reinforce evidence of a continued recovery in Asia's third-largest economy from the coronavirus pandemic-induced slump.

India's December jobless rate hits 4-month high of 7.9%: CMIE data

India's unemployment rate hit a four-month high in December, data from the Centre for Monitoring Indian Economy (CMIE) showed

GST mop-up signals economic recovery despite worry over Omicron

Collections grow 13% in December quarter to Rs 1.3 trillion - the best since July 2017

Assam's growth rate declines, fiscal deficit, debts rose in 2019-20: CAG

Assam has recorded a decline in its growth rate while its fiscal deficit, outstanding debt and public debt have increased significantly at the end of 2019-20, a CAG report said

Over 25,000 compliances reduced to aid ease of doing biz: DPIIT

Over 25,000 compliances have been reduced by Union ministries, states and UTs so far to further improve ease of living and doing business, a top government official said on Wednesday. These compliances were reduced during the last phase of an initiative that ended on August 15 this year. Now, the Department for Promotion of Industry and Internal Trade (DPIIT), an arm of the commerce and industry ministry, has again started the initiative to further identify the pain points for businesses and common people and reduce or eliminate those burdens. To further improve ease of living and doing business, the DPIIT is conducting a National Workshop on the Next Phase of Reforms for Reducing Compliance Burden'' on December 22. The workshop is witnessing participation from across central ministries and states/Union Territories (UTs). "In the last phase, which ended on August 15 2021, more than 25,000 compliances were reduced...However this is not the end of the journey, there are still complia

FMCG players expect better growth, lesser inflationary pressure in 2022

With a revival in demand and consumption, FMCG companies are looking forward to 2022 with positivity and hopes of sustaining a healthy growth trend across both rural and urban markets

Consumer durables industry: Double digit growth hopes brighten 2022 horizon

With demand for premium and technologically advanced products on the rise, India's appliances and consumer electronics industry will be switching on to 2022 with hopes of double-digit growth

Too early to celebrate economic recovery in India: Arvind Subramanian

Stock markets reflect the Indian economy less. It would be a kind of policy mistake to infer from this (stock boom) anything about the diverse Indian economy, said Subramanian

Growing old before it gets rich, India has a people problem

A country in which less than half of the working-age population is even looking for a job is not one that will be able to escape poverty.

Wedding rush sets record, sends India's gold imports surging to 6-year high

About 2.5 million ceremonies are estimated to have taken place since mid-November, around a quarter of this year's expected annual total.

LIVE: West Bengal govt extends existing Covid restrictions up to Jan 15

Restrictions related to the movement of people and vehicles between 11 pm and 5 am shall be relaxed for Christmas and New Year celebrations

The PM should move talent to ministries that have direct bearing on supply

Economics, to be meaningful, has to be about micro markets and it must go back to microeconomics. So must governments.

Samco MF aims to mop up Rs 5,000 crore from debut Flexi-fund NFO

The fund will use a metric called active share" that shifts from traditional benchmarking and focuses on heavily stress tested" companies

India's economy likely to grow 10.5% in FY22, 9% in FY23: Credit Suisse

For the current financial year too, the brokerage anticipates growth to be higher than the consensus forecast of 8.4-9.5 per cent

RBI leaves rates unchanged, says economy better prepared to deal with Covid

Central bank maintains FY22 GDP forecast at 9.5 per cent and projected retail inflation to be at 5.3 per cent.