Page 18 - Indian Economy

India's current account deficit projected at $106bn: Acuite Ratings

Credit rating agency Acuite Ratings and Research has revised downward Indias current account deficit to $106 billion in FY23

India's internet industry to reach $5 trillion valuation by 2030

Despite a few hiccups this year, the Indian internet industry is expected to grow and could reach a valuation of $5 trillion by 2030, a report showed

India will be the best or among top two markets globally: Shankar Sharma

We romanticise the good part of the markets, ignoring the bad part, says Shankar Sharma, founder, GQuant Investech

Best of BS Opinion: Market sentiment, economic stress tests, and more

Here is the best of Business Standard's opinion pieces for today

TMS Ep337: Markets, 2023 outlook, monetisation pipeline, census

What does 2023 have in store for Indian markets and economy? What are the five things that will impact you in 2023? Where is the National Monetisation Pipeline headed? What is a census? Answers here

Market sentiment

Corporate India is expected to do well

November exports to key markets bounce back after October dip

Exports had recovered in November to grow at 0.59 per cent from a 12 per cent contraction in October

Demand to exploration: Key warning signals for India's gas industry in 2023

Consumers will be in trouble, given rising European demand from India's traditional suppliers, the absence of gas storage facilities and the lack of a clear LNG procurement strategy

Best of BS Opinion: Sobering reality, year of conflict and loss, and more

Here is the best of Business Standard's opinion pieces for today

FMCG companies see some respite in rural demand in last two weeks

While it is too early to say that rural demand has revived but this is the first time demand for consumer goods have witnessed green shoots

Core sector rebounds sharply to grow at 5.4% in November: Govt data

Data released by the industry department on Friday showed sequential acceleration in output growth in sectors like coal (12.3 per cent), steel (10.8 per cent), electricity (12.1 per cent)

Centre's fiscal deficit for April-November period at 58.9% of FY23 target

In fact, in November the fiscal deficit widened by Rs 2.2 trillion, the highest ever in any month this financial year

CASA drives 9.4% YoY moderation in deposit growth even as FDs stay buoyant

Credit growth sustains momentum at 17.4%, but it has come off the peak

The free grain scheme risks undermining more than the rural economy

The problem with govt's decision lies not with fiscal maths but with how it addresses realities of economics of farming and the income levels of much of India's working population, writes T N Ninan

EAM pitches for India becoming manufacturing hub, $5 trn economy by 2025

External Affairs Minister S Jaishankar on Friday told investors in Cyprus that India is on the path of becoming a manufacturing hub for the global community and intended to become a USD 5 trillion economy by 2025. Addressing a business event organised by the High Commission of India in Cyprus, Jaishankar said New Delhi and Nicosia had a lot of potential to increase the bilateral trade between the two countries. Jaishankar who is on a three-day visit to Cyprus, while addressing the business event said India and Cyprus last year had bilateral trade of about USD 214 million and were confident to reach the last year's figure much earlier this year. He said India and Cyprus had an active institutional mechanism in economic cooperation. The minister stressed that Cyprus is the 10th largest investor in India with an accumulative investment of USD 12 billion during the last 20 years. India exported pharmaceutical products such as hydroxychloroquine and paracetamol, iron, steel, ceramic ..

Core sector output rises by 5.4% in November vs 3.2% YoY: Govt data

Production of eight infrastructure sectors increased by 5.4 per cent in November against a 3.2 per cent growth in the same month last year on a better show by coal, fertiliser, steel, cement and electricity segments, according to the official data released on Friday. Crude oil, natural gas and refinery products, however, recorded negative growth in November this year. The production growth of eight key sectors slowed down to 0.9 per cent in October. The growth rate of eight infrastructure sectors -- coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity -- stood at 8 per cent in April-November this fiscal as against 13.9 per cent during the same period last fiscal. The production of coal rose by 12.3 per cent, fertiliser by 6.4 per cent, steel by 10.8 per cent, cement by 28.6 per cent and electricity by 12.1 per cent in November 2022 compared to a year ago. Core sectors industries, which have 40.27 per cent weight in the overall index of industr

Fiscal deficit touches 59% of full-year target in November at Rs 9.78 trn

The government's fiscal deficit at the end of November touched 59 per cent of the full year budget estimate, according to data released by the Controller General of Accounts (CGA) on Friday. In actual terms, the fiscal deficit -- the difference between expenditure and revenue -- was Rs 9,78,154 crore during the April-November period of 2022-23. In the corresponding period last year, the deficit was 46.2 per cent of the budget estimates of 2021-22. For 2022-23, the fiscal deficit of the government is estimated to be Rs 16.61 lakh crore or 6.4 per cent of the GDP.

India's battle against inflation to continue amid global uncertainties

After remaining above the Reserve Bank's comfort level of 6 per cent for most part of this year, retail inflation is slowly easing, and efforts are likely to continue to further reduce it in the coming months amid global uncertainties. High prices of crude and edible oils, pulses and vegetables were among the main factors behind the high inflation during the year. This trend came against the backdrop of the Russia-Ukraine conflict that started in February and disrupted the global supply chain and pushed higher prices of many commodities. Since May, the Reserve Bank of India (RBI) has hiked the short-term lending rate (repo) by 2.25 percentage points, taking it to a nearly three-year high of 6.25 per cent. The Consumer Price Index (CPI) based retail inflation crossed the RBI's comfort level of 6 per cent in January itself and thereafter it remained elevated for nine months before slipping to 5.88 per cent in October. An RBI paper on 'Anatomy of Inflation's Ascent in India' said, "Th

Budget primer: Understanding govt expenditure and its various types

Its importance is seen in its ability to hugely influence the nation's economy, as it reflects aggregate demand in addition to household consumption, business investment, and net exports

Top headlines: PM Modi's mother passes away, bank's NPA ratio at 10-yr low

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