Page 20 - Indian Economy

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

India better placed as world deals with Covid, economic headwinds

From a full-blown war in Europe to China's botched-up exit from its zero-Covid policy, the first of a yearender series assesses how geopolitics and geoeconomics played out for India

IMF calls for 'more ambitious' fiscal consolidation by India, cites risks

But govt asserts public debt is sustainable

India's economic growth 'extremely fragile', needs support: RBI MPC member

India's economic growth is now 'extremely fragile' and needs all the support that it can get, as private consumption and capital investment are yet to pick up, RBI Monetary Policy Committee (MPC) member Jayanth R Varma said on Friday. Varma further said out of the four engines of growth for the economy, exports and government spending supported the Indian economy through the pandemic, but other engines need to pick up the baton now. " I like to think in terms of the four engines of growth for the economy: exports, government spending, capital investment and private consumption. "...while exports cannot be the main driver of growth because of the global slowdown, government spending is necessarily limited by fiscal constraints," he told PTI. Observing that experts are waiting for many years for private investment to pick up the slack Varma said that concerns about future growth prospects appear to be deterring capital investment. "The critical question is whether the fourth engine

BHEL, Sumitomo partner for circulating fluidised bed combustion boilers

Bharat Heavy Electricals Limited (BHEL) has entered into an agreement with Sumitomo SHI FW, Finland (SFW) for design, engineering, manufacturing, erection, commissioning and sale of circulating fluidised bed combustion (CFBC) boilers in India and overseas market. The agreement does not include select countries, BHEL said in a statement. "BHEL has entered into a long-term Technology License Agreement (TLA) with Sumitomo SHI FW, Finland for design, engineering, manufacturing, erection, commissioning and sale of subcritical as well as supercritical CFBC boilers in India and in overseas territories except select countries," it said. CFBC boiler technology has inherent benefits such as fuel flexibility while meeting extant emission norms and better operational flexibility at part loads as against conventional coal-based technologies, BHEL said. Further, CFBC boilers have lower SOx (sulphur oxides) and NOx (nitrogen oxides) emissions and hence do not require installation of additional ..

SC to pronounce judgment on pleas against demonetisation on January 2

The Supreme Court is scheduled to pronounce its judgment on January 2 on a batch of pleas challenging the government's 2016 decision to demonetise currency notes of Rs 1,000 and Rs 500 denominations. A five-judge Constitution bench headed by Justice S A Nazeer, who will retire on January 4, is likely to pronounce its verdict on the matter on the said date. The top court had, on December 7, directed the Centre and the Reserve Bank of India (RBI) to put on record the relevant records relating to the government's 2016 decision and reserved its verdict. The bench, also comprising justices B R Gavai, A S Bopanna, V Ramasubramanian and B V Nagarathna, had heard the submissions of Attorney General R Venkataramani, the RBI's counsel and the petitioners' lawyers, including senior advocates P Chidambaram and Shyam Divan. Calling the scrapping of the Rs 500 and Rs 1,000 currency notes deeply flawed, Chidambaram had argued that the government cannot on its own initiate any proposal relating to

Amid poor world demand, India has opportunities in developing countries

It must push exports of 18 items to developing nations, says report

Markets are cyclical; we only romanticise the good part: Shankar Sharma

Every equity market across the globe has and will have its day, and Indian markets are having their day right now

Gold to shine amid global recession; soft landing could play spoilsport

But it will lose sheen if the world economy achieves a soft landing

FPIs pull out a record Rs 1.22 trn from Indian market so far this year

Turn net sellers after 3 years; rising rates, recession fears to blame; Sensex still up 4.8% YTD

India to face export shocks from global recession: BFSI economists' panel

While two of the eminent panelists - Ghosh and Nayar - said they expect a pause in the monetary cycle by the MPC, Chakraborty, Sagar, and Kapoor said the MPC could still hike by 25-50 basis points

Covid fears in China may have cascading impact on India's exports, imports

The importance of China as India's top trading partner cannot be understated

India to receive record remittances but experts worry CAD will still widen

Of $90 billion remittances that India is expected to receive in 2022, only $27.4 billion has come in the first half of the year

India can't afford yet more disruptions to supply chains: Ficci President

'What is most unfortunate is that countries are looking to finance their transition to a green economy by taxing others'

Many youth end up in gig economy, get no job security: Rahul Gandhi

Youth from across India come to Rajasthan to study and hope for good jobs, but many end up in the new "gig economy" which offers little security despite government efforts, Congress leader Rahul Gandhi said Wednesday. In his letter addressed to the people of Rajasthan as the Congress' Bharat Jodo Yatra entered Haryana, he also mentioned the rights of the tribals and expressed confidence that the Ashok Gehlot government would act swiftly to resolve these issues. The Kanyakumari to Kashmir march of the Congress entered Haryana from the Mundaka border in Nuh after spending 16 days in Rajasthan. The letter was posted on Twitter by Congress leader Jairam Ramesh. The former Congress chief, who covered nearly 500 km in six districts of Rajasthan before entering Haryana, said youth come to Rajasthan hoping to study and get good jobs, in a possible reference to coaching hubs like Kota. "Despite government efforts, these hopes go unfulfilled too often. Many work in the new 'gig economy' for

RBI governor Shaktikanta Das against pausing rate hikes: MPC minutes

MPC minutes show Das saying that in a tightening cycle, especially in a world of high uncertainty, giving out explicit forward guidance on the future path of monetary policy would be counterproductive

Business Standard's BFSI Insight Summit kicks off today

RBI Governor Shaktikanta Das will share his views on key aspects of the economy in a fireside chat

India GDP grew by 9.7% in H1FY23, says Finance Ministry

The Ministry said it could not present the Medium Term Expenditure Framework in Parliament, as mandated by the Fiscal Responsibility and Budget Management Act

Fitch affirms India's sovereign rating at BBB- with stable outlook

Fitch said India's robust medium-term growth outlook is a key supporting factor for the rating

Fresh formal job creation fell for third straight month, show EPFO numbers

New EPFO subscribers dipped by a sharp 26% in October, from the level a month ago