Page 21 - Indian Economy

2023 likely to be a flattish year for Indian equities: Kotak Securities

Kotak Securities sees Nifty50 at 18,385; rising FD rates could attract investment

See upturn in capex cycle, growth momentum to pick up: RBI report

'Can't let our guard down on inflation'

RBI sold $922 million in foreign exchange market in October: Bulletin

Forward purchase book shrinks $10 bln as RBI spreads out interventions

UTs top performer in Social Progress Index; Bihar, Jharkhand at bottom

Puducherry has the highest SPI score of 65.99 in the country, attributable to its remarkable performance across components like Personal Freedom and Choice, Shelter, and Water and Sanitation

The race to $1trillion economy among states: Who gets there first?

The bigger the state's economy, the better placed it is to reach that proverbial milestone

Latest news LIVE: India crosses milestone of 2.2 bn Covid vaccine doses

Catch all the latest news from around the world here

India's economic activity may have slowed down in Nov as resilience wanes

Demand for bank credit remained healthy at 17.2%, even amidst tighter liquidity conditions and higher borrowing costs, Reserve Bank of India data showed

India will contribute 10% of incremental global petchem demand growth: Puri

India, whose per capita consumption is significantly lower than that of developed economies, will contribute 10 per cent of the incremental growth of global petrochemical demand, Oil Minister Hardeep Singh Puri has said. Petrochemicals, which turn oil and gas into all sorts of daily products -- such as plastics, fertilisers, packaging, clothing, digital devices, medical equipment, detergents or tyres -- are rapidly becoming the largest driver of global oil consumption. They are set to account for more than a third of the growth in oil demand by 2030, and nearly half by 2050, ahead of trucks, aviation and shipping, according to IEA. India is poised to grow strongly from its current level of only 4 per cent of global capacity to satisfy increasing domestic demand. "Petrochemical market size is currently in India about USD 190 billion, whereas the per capita consumption of petrochemical segments is significantly lower, compared to that in developed economies. And this gap offers ...

Direct tax collections for FY23 up 20% at Rs 11.35 trillion till Dec 17

Direct tax collections stood at Rs 11,35,754 crore, as on December 17, 2022, up by 19.81 per cent against Rs 9,47,959 crore recorded in the corresponding period of last year, officials said

Statsguru: Energy to food prices, 6 charts explain India's inflation woes

In terms of food prices, India seems to be doing much better than the Western economies, owing to it being less dependent on imports

Four years and four challenges of RBI governor

Shaktikanta Das is nimble-footed and open to ideas - a trapeze artist, and a master of the finest balancing act who listens to all but takes his own decisions

On balance, India is in a sweet spot

We have emerged as a source of global economic stability and are still the fastest-growing large economy

Centre, state govts to focus on efforts to widen GST base: FM Sitharaman

According to finance minister Nirmala Sitharaman, monthly GST revenue collection has been above Rs 1.4 trillion in the recent past

India's push to indigenous research finally reaping benefits: Mandaviya

Celebrating India's manpower and brain power, Mandaviya said that Indians have remained at the forefront of creative fields, be it research institutions, technology, or pharma companies etc.

China's attempts at transgression, economy dominate Parliament proceedings

China's attempts at transgression at the Line of Actual Control (LAC) in Arunachal Pradesh, the government's strong desire to have a say in the appointments to the higher judiciary and heated debates on the state of the economy were some of the issues that dominated the Parliament proceedings this week. The Lok Sabha approved the Supplementary Demands for Grants to the tune of Rs 3.26 lakh crore, primarily to fund the higher subsidy bill on items such as fertilisers, food and cooking gas, besides ramping up capital expenditure in sectors such as railways and roads. The Lower House also passed two bills to amend the Constitution (Scheduled Tribes) Order to add the Narikoravan and Kurivikkaran communities to the list of Scheduled Tribes (ST) of Tamil Nadu and include the Hattee community of the Trans Giri area of Sirmour district in Himachal Pradesh to the ST list of the hill state. On Tuesday, as opposition members raised the issue of clashes between Indian and Chinese troops near ..

Brace for climate tariff walls, FM Nirmala Sitharaman cautions India Inc

Says the upcoming Budget will continue to push growth

RBI's central board reviews current economic situation, challenges

The central board of the Reserve Bank on Friday reviewed the prevailing economic situation and challenges emanating from geopolitical developments. The 599th meeting of the Central Board of Directors of Reserve Bank of India (RBI) took place in Kolkata under the chairmanship of Governor Shaktikanta Das, the RBI said in a statement. "The board in its meeting reviewed the current economic situation, global and domestic challenges, including geopolitical developments, finance and trade," it said. The board also discussed the activities of select central office departments and the draft report on the Trend and Progress of Banking in India, 2021-22. Directors of the central board -- Satish K Marathe, Revathy Iyer, Sachin Chaturvedi, Venu Srinivasan, Pankaj Ramanbhai Patel and Ravindra H Dholakia -- participated in the meeting. Deputy governors Mahesh Kumar Jain, Michael Debabrata Patra, M Rajeshwar Rao, and T Rabi Sankar, were also present during the meeting.

India all set to achieve $5 trillion economy target by FY25: Nitin Gadkari

India is the fastest growing major economy in the world and is all set to achieve USD 5 trillion GDP by 2024-25, Union Minister Nitin Gadkari said on Friday. Addressing an event organised by industry body FICCI, Gadkari said the central government is aiming to boost growth and employment to achieve sustainable development. The road transport and highways minister said India will play a key role in achieving global Sustainable Development Goals (SDGs) 2030. Gadkari noted that India needs to increase its exports and reduce imports. "We are also working on developing alternative, clean and green fuel like bio ethanol, bio-CNG, bio-LNG and green hydrogen," he said, adding green hydrogen is the fuel for the future. The minister said currently India's automobile industry is worth Rs 7.5 lakh crore and he wants to take it to Rs 15 lakh crore."This will create lots of new jobs." He also said his focus is on reducing cost of construction. "We are trying to minimise use of steel and cement

Cabinet okays bill decriminalising minor offences to push ease of doing biz

The Union Cabinet has approved a bill to decriminalise minor offences by rationalising related provisions under different ministries to ensure ease of doing business, sources said on Friday. The proposal was mooted by the Department for Promotion of Industry and Internal Trade (DPIIT). Sources said that the Cabinet discussed the Ease of Doing Business and Ease of Living (Amendment of Provisions) Bill, 2022 in a meeting here and has approved it as the bill is likely to be introduced in the ongoing winter session of Parliament. The bill proposes to rationalise about 110 provisions across 35 Acts administered by 16 ministries/departments. Explaining the rationale behind the proposed legislation, one of the sources said that taking the reform agenda to the next level, the government is focussing on reducing the overall compliance burden for businesses and citizens. For this, a four-pronged strategy of simplification, digitisation, decriminalisation of provisions for minor offences, an

Ficci releases roadmap to achieve 600 mn jobs, 6x rise in income by 2047

The roadmap also focuses on doubling female participation in the labour force to 45-50%, cut carbon emissions by 80-100%, and provide access to clean water for all