Page 5 - India Economy

PM Modi should work with states to strengthen economy: Rajasthan CM Gehlot

Rajasthan Chief Minister Ashok Gehlot on Saturday said Prime Minister Narendra Modi should take states into confidence and work with them to strengthen the economy. He also reminded the Centre of its "duty" to give grants to the states and support them. "We should be worried about the situation the country is moving towards. I am seeing such an atmosphere for the first time. It is time for Modi to take all states along and work towards strengthening the economy," he said. Gehlot was speaking after inaugurating the Rajiv Gandhi Centre of Advance Technology (R-CAT) here. The chief minister said his government had been making optimum use of information technology for good governance. During Covid, he said, he had held about 500 video conferences with officials at various levels to review the situation. R-CAT will conduct training programmes on advanced and emerging IT technologies with duration ranging from one week to six months for graduates like BE/B.Tech., BCA, MCA, MBA, and M.Sc

Slowing economy affected profits, wages but investments upbeat in FY20

Annual Survey of Industries shows that firms' GVA shrank 3.4%, while GFCF touched 8-year high

Most economists see GDP growing at slower pace in Q1 than MPC projection

At the MPC's estimate of 16.2%, the economy would have grown 6.1% over the corresponding quarter of 2019-20

Teenagers' share in India's gig sector grows 8 times in last 4 yrs: Report

Around 40% of the gig workers now come from the age group of 16 to 23, says a study by Taskmo, an on-demand staffing platform

Top Headlines: GST compensation to states; battle for 5G networks, and more

The Centre may release about Rs 35,000 crore to states as GST arrears by September-end, Business Standard has learnt

India @75 should shun protectionism and get more competitive

The task ahead is to discard the protectionist trade and tariff policies that have failed us and adopt the liberal policies that have helped us

Cloud tech helping us to tap global creator economy: Kuku FM Co-founder

As content consumption goes through a churning in India, with the creator economy surpassing all metrics, Kuku FM which is a podcast platform is re-inventing the traditional radio.

Despite fiscal steps, wheat, pulses and LPG see high inflation in July

The government announced a number of fiscal steps after overall inflation refused to come below six per cent since January this year.

India's bioeconomy likely to touch $300 billion by 2030, says report

India's bioeconomy is likely to touch $150 billion by 2025 and over $300 billion by 2030, a report said

Chidambaram slams Centre over handling of economy for falling rupee

Former finance minister P Chidambaram has launched a scathing attack on the central govt, blaming its handling of a host of issues including falling rupee, employment generation and LPG price rise

Global recession fears may ease inflationary pressures: Govt report

Review released by ministry also said that global headwinds would continue to pose downside risk to growth as crude oil and edible oils, remain major imported components

Low growth and high inflation expected this year: N Chandrasekaran

The World Bank last month cut India's economic growth forecast for the current fiscal to 7.5 per cent owing to rising inflation, supply chain disruptions and geopolitical tensions

Rupee at record low as US dollar surges globally, domestic markets fall

Fears of a global recession weigh on the unit despite RBI measures to boost dollar inflow

Govts should mobilise more domestic resources via tax reforms: Albert Park

In an Q&A, ADB Chief Economist Albert Park tells that countries in region may not be able to carry on with large expenditures and social transfers meant for pandemic, given rising debt burden

PSBs back on growth path as India's economic recovery gains traction

While the impetus to double-digit credit growth was from wholesale lending, retail credit growth continued to be robust

Govt looking for complete exit with the help of PSB Privatisation Bill

The government is mulling an amendment that will allow the Centre a total exit from banks, fully privatising PSBs, a report said

Indian gig economy to have 23.5 mn workers by 2029-30: Niti Aayog report

Think-tank recommends social security for gig workers

RBI aim is to not have over-tightening or over-stimulus: MPC's Ashima Goyal

Central bank has to target inflation but with 'awareness of nuances',' she says in interview.

India likely to impose ceiling on next season's sugar exports: Report

It has capped current season's sugar exports 10 mn tonnes, wants ample local supplies.

Authorities taking steps to moderate inflation, push growth: DEA Secy

Monetary and fiscal authorities are taking steps to moderate inflation and push growth, Department of Economic Affairs Secretary Ajay Seth said