Page 33 - Indian Economy

RBI steps up fund infusion as system liquidity 'almost neutral'

Rates on CPs, CDs surge; pressure mounts on banks to raise deposits

Foreign trade vital in making India a $30 trillion economy: Piyush Goyal

Union Minister for Commerce and Industry Piyush Goyal said here on Friday that foreign trade would become a truly defining feature that would help India become a USD 30 trillion economy in the Amrit Kaal. "We have reached that inflection point, we are at the cusp, where we are going to take off. If we have the ambition to be at least ten times in the next 25 years...we are looking to cross the USD 30 trillion economy with a per capita GDP of 15,000 dollar," Goyal said. Speaking as the guest of honour after inaugurating the third campus of the Indian Institute of Foreign Trade-Kakinada, along with Union Finance Minister Nirmala Sitharaman, Goyal noted that foreign trade would become a truly defining feature in the years to come "as we work in the Amrit Kaal in the next 25 years and progress towards a developed India." "Amrit Kaal, leading to the 100 years of Indian Independence, will determine the future of our children and generations to come. You are the main stakeholders in this .

RBI release suggests Nov MPC meet only to discuss inflation target failure

MPC may decide RBI's response to govt on the matter; Unlike earlier off-cycle meetings in which interest rate action was taken outside schedule without prior notice, this one was announced in advance

India's forex reserves touch $524.5 bn, lowest level since July 2020

The primary reason for the decline is foreign currency assets, which recorded a dip of $3.5 billion to $465 billion

The UK or Korea: What is the ideal benchmark for the size of India's govts?

There must be a warning in the fact that some of the most problem-ridden middle-income economies have big govts, big deficits, high levels of debt and large-scale corruption, writes T N Ninan

Xi's fraying ties with West make China+1 real theme in India festive season

India as a risk-mitigation tactic - a hedge against manufacturing all widgets in China - is a story that's gathering investor interest and helping to justify lofty valuations

Business confidence falls for second straight quarter, says NCAER survey

Earlier, it was at 142.9 in the fourth quarter of 2021-22. It was 117.4 in the corresponding quarter last year

Explained: Mahatma to Mangalyaan, how currency notes evolved in India

Delhi's Chief Minister Arvind Kejriwal said that efforts to make India wealthy would only bear fruit with blessings from gods and goddesses.

Political currency or divine help?

Economic debates should be informed. Changing the currency notes or printing images of Lord Ganesh and Goddess Lakshmi on them will not help

Rupee trade with few nations may start, internationalisation will take time

Negotiations are on with Russia, Cuba and Sudan among others to do so. Officials are hopeful that Saudi Arabia, UAE and Luxembourg would also come on board

Caught in global maelstrom, rupee, govt bonds likely to weaken further

The key factors that have wreaked havoc on fixed-income and currency markets are the Russian invasion of Ukraine and the US Fed's decision to embark upon the most aggressive monetary tightening cycle

Recovery tracker: Dip in railway numbers, fewer flyers ahead of Diwali

Weekly vehicle registrations surge to nearly 600,000

Run-up to Budget: Economic Survey may peg India's FY24 GDP growth at 6-7%

Economic Survey to focus on India's response to Covid, geopolitical shocks

RBI optimistic on the state of economy

Bank credit is increasing by double digits and the sustained surge in goods and service tax collections is signalling growing formalisation of the economy

Revisiting disinvestment: Going for a 'bottom-up' approach

The government should give up its dependence on disinvestment as an instrument for containing the fiscal deficit

Heads of Missions meet to discuss strategies to put states on global map

While the envoys said they were energised by their state visits, there were some glaring gaps. Maharashtra, Karnataka, and Tamil Nadu were significant omissions

White collar crime affecting economy to be considered seriously: CBI court

A white collar crime involving and affecting the nation's economy has to be considered seriously, a special court here observed while denying bail to former Maharashtra minister Anil Deshmukh in a corruption case probed by the Central Bureau of Investigation (CBI). The Nationalist Congress Party (NCP) leader was arrested on November 2, 2021 and has been in judicial custody. He is currently admitted to a private hospital for coronary angiography. The special CBI court on Friday rejected Deshmukh's bail plea and the copy of the same was made available on Saturday. The court observed that the investigation had established the factum of collection of money from bar owners and delivery of the same to Deshmukh through Kundan Shinde (a former aide), who is also accused in the case. "In the present case, so far it is clear that a huge amount affecting the economy of nation is involved. Such a white collar crime involving and affecting the economy of the nation has to be considered seriousl

Dhanteras begins on positive note; jewellers expect footfalls to increase

Dhanteras, spread over two days of the weekend, got off to an auspicious start on Saturday as consumers began trickling in to markets, with jewellers expecting the momentum to increase towards the evening. Dhanteras, which marks the first day of Diwali in India, is considered an auspicious occasion to buy gold and silver as part of Hindu festivities. "Since the day has just begun, the footfalls are just trickling in. As this year Dhanteras is spread over the weekend, we expect the momentum to increase towards the afternoon and evening and tomorrow. "Mainly, since morning people who had pre-booked, are coming to pick up the items to avoid the crowd," All India Gem And Jewellery Domestic Council chairman Ashish Pethe told PTI. Since the last 3-4 days the consumer sentiment has been good and the sales momentum has been positive. The industry expects a good two days of business, he added. PNG Jewellers Chairman and Managing Director Saurabh Gadgil said in Maharashtra, the footfalls ha

Best of BS Opinion: A less predictable outlook, de-extinction, and more

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

A less predictable outlook: How will Indian economy do in Samvat 2079?

While the frothier end of the market of unicorns has already seen a low tide when it comes to fresh funding, the more sober end of the market might provide a positive surprise, writes T N Ninan