Page 20 - India Economy

Bidenomics: Sanity in post-Covid world, but expect no instant big changes

India, with its market potential, and as a complement to the US economy stands to gain if it plays its cards right

Asian equities except India see outflows in October on US election jitters

Foreign investors turned net buyers of Indian equities as slowing Covid-19 cases boosted hopes of a faster economic recovery, while other Asian equities faced outflows ahead of the US election

India's October unemployment rate climbs up to 6.98%, CMIE data shows

India's unemployment rate in October rose to 6.98% from 6.67% in September, according to data released by the Centre for Monitoring Indian Economy

Toyota Kirloskar posts 1.87% decline in total sales at 12,373 units in Oct

Toyota Kirloskar Motor on Sunday reported a 1.87 per cent decline in total sales at 12,373 units in October. The company had sold a total of 12,610 units in October last year, TKM said in a statement. On a sequential basis, the company said its October sales were higher by 52 per cent from September 2020 when it sold 8,116 units. Commenting on the sales performance, TKM Senior Vice President, Sales & Service, Naveen Soni said, "The month of October has been our best month so far since March 2020." He further said, "The festive season has proved to be bullish as we witness demand surging, month on month. This has been true of our retails too as order flow has been smooth, from the very beginning." Soni also said that the fact that the company's wholesaleshave been registering an average growth of close to 50 per cent every monthgives it the confidence that the demand for bigger vehicles is rising too, with both the Innova Crysta and the Fortuner clocking promising figures as ...

Khadi sales pick up on PM Modi's appeal, 1.9 million masks sold in 5 months

After PM Narendra Modi's promotion of Khadi products in his 'Mann ki Baat' program, masks became the best-selling Khadi product followed by fabric, followed by honey, groceries, and handkerchiefs

Time to invest in cyclicals as economic recovery gathers steam: Analysts

Despite the large economic impact of the Covid-19 pandemic, the markets have recovered sharply even though the performance among individual stocks has been quite polarised

Decision to waive off compound interest must be implemented by Nov 2: SC

We need to see concrete results on the ground, says the court as it set November 2 as the next date of hearing in the matter.

Compound interest waiver will cost Rs 6,500 crore to govt: Official

Cabinet decision soon on setting up a development finance institution and framing a new policy on public sector enterprises

Capex measures to deliver the goods rather than the consumption booster

States and centre would be spending more on projects like roads, urban development, defence as a result of Finance Minister's announcements.

Events business unlocks, but key states retain cap amid Covid-19 pandemic

Maharashtra, Delhi and Rajasthan continue with 50-people ceiling

India posts current account surplus of $19.8 bn as trade deficit narrows

Surplus in April-June 2020 (Q1Fy21) comes on top of a surplus of $0.6 billion (0.1 per cent of GDP) in the preceding quarter (Q4 Fy20), says RBI.

India's April-Aug fiscal deficit passes 109% of full year budget target

The deficit is predicted to exceed 8% of GDP in the 2020/21 fiscal year that began in April, economists said.

India needs to copy China better when it comes to running successful SEZs

Investment zones must provide the kind of governance and clarity that's in short supply across the rest of India, writes Reuben Abraham.

India's GDP contraction should alarm everyone: Ex RBI Guv Raghuram Rajan

A week after India reported a significant contraction in its GDP during the April-June quarter of 2020-21 fiscal, Raghuram Rajan has said that the negative GDP growth numbers should alarm everyone

Govt took care of health, economy; turned tragedy into opportunity: Nadda

PM Modi made it clear that the lives of 1.3 billion people must be saved. He said Jaan hai to Jahan Hai as public health was at the top of his mind, the BJP chief said

Amount in bank fraud up 159% to Rs 1.85 trn in 2019-20: RBI annual report

28% spike in number of cases; advances account for 98% of total amount involved in frauds

Indian economy likely to contract by 16.5% in Q1FY21: SBI report

Based on the leading indicators YoY performance, we expect the gross value added (GVA) de-growth to be between -14.5 per cent and -16.5 per cent in Q1FY21, says Soumya Kanti Ghosh of SBI

RBI's silence on bond purchases may have left traders disenchanted

The RBI held the repurchase rate at 4 per cent, as it chose to wait for inflation to cool before adding to steps aimed at supporting a fragile economy

Slow Jaguar Land Rover recovery will weigh on Tata Motors profits

While operational gains will continue, firm may not turn profitable this year

No early end to the 'new normal', yet the show must go on: Apollo Tyres CMD

Stating that the uncertainty due to the coronavirus pandemic will continue, Apollo Tyres Chairman and Managing Director Onkar S Kanwar has said he doesn't see an early end to the 'new normal'. In view of a bleak global, Indian and European outlook, the tyre major has adopted a "cautious approach" with focus on employee safety, conserving cash, re-engineering production and cutting down all avoidable costs while continuing to spend on R&D, e-training and brand building, among others. "FY20 was a tough year by all measures. While the auto industry had been on a slow growth path even in FY19, the last year proved to be a complete dampener for the industry due to poor consumer sentiment, increased cost of ownership on account of higher insurance cost, and higher financing cost owing to the liquidity crisis in the non-banking financial company (NBFC) sector," Kanwar said in his address to shareholders in the company's annual report for 2019-20. He, however, said the company is still ...