Page 36 - Indian Economy

Top headlines: India Inc's overseas fundraising, Vistara-AI merger talks

From Vistara-Air India merger discussions to India Inc's fundraising, here are the top headlines on Friday morning

India has set global benchmarks; economic revival on sustained path: FM

Union Finance Minister Nirmala Sitharaman said that India is setting the global benchmarks on the digital front and that it will be able to face geopolitical and economic uncertainties

India's share in venture capital funding falls sharply; China surges ahead

The decline in Q3 CY2022 is even sharper on a year-on-year basis

The process involved in preparing the Union Budget: An explainer

All of this culminates on February 1, when the Cabinet approves the budget, the Finance Minister presents it to the President, then proceeds to Lok Sabha, where she rises at 11 am to begin her speech

India to become world's third-largest economy by FY28, says IMF

Projected to grow bigger than Japan at $5.36 trillion

India pushes for settlement of international trade in rupee with Sudan

In July, the RBI had unveiled a mechanism to settle international transactions in rupee to promote the growth of global trade, with emphasis on exports from India

Going beyond the inflation target

RBI has to manage multiple risks. Economists argue the system has got so used to lower rates and higher liquidity that a sudden tightening could lead to financial market dislocations

As MPC fails on CPI mandate, RBI's growth-inflation balance gets trickier

The central bank will now have to provide a report to the government explaining the reasons for the failure and the steps to be taken

Bengaluru fourth most expensive real estate market in India: Knight Frank

Bengaluru's affordable housing market has become more costly due to the 50 bps hike in the repo rate by the RBI

At 82.34, rupee ends marginally weaker ahead of US inflation test

The rupee ended at 82.3450, compared with its previous close of 82.3150, after trading in a narrow range through the session

15 states among achievers in logistics performance index 2022: DPIIT report

Andhra Pradesh, Assam and Gujarat are among the 15 states and UTs categorised as achievers in the logistics index chart 2022, according to a report released by the commerce and Industry Ministry on Thursday. The index is an indicator of the efficiency of logistical services necessary for promoting exports and economic growth. Kerala, Madhya Pradesh, Rajasthan, Puducherry, Sikkim and Tripura are the other states categorised as fast movers in the ranking. The 15 states and UTs ranked in the aspirers category include Bihar, Chhattisgarh, Goa and Mizoram. The report ranks the states on the basis of their logistics ecosystem, highlights the key logistics-related challenges faced by the stakeholders and includes suggestive recommendations, according to the fourth LEADS (Logistics Ease Across Different States) 2022 report unveiled by the Commerce and Industry Minister Piyush Goyal. The index aims at enhancing the focus on improving logistics performance across states which is essential f

India's economy faces significant external headwinds, says IMF

Earlier this week, the Washington-based fund lowered India's growth forecast by 0.6 percentage points to 6.8% for the year ending March 2023 -- the biggest downgrade among major economies after the US

Packaged parathas, unlike chapatis, to attract 18% GST, says GAAAR

Vadilal Industries had appealed that the 8 varieties of parathas it makes should all draw the same rate as chapatis

Retail inflation rate expected to gradually decelerate after Sept: Report

Consumer price-led inflation is expected to gradually decelerate after September, helped by a fall in commodity prices and easing food inflation, analysts said

India maintained post-pandemic economic growth momentum, says Sitharaman

Nirmala Sitharaman said that India has maintained accelerated growth momentum, after the contraction in 2020, by balancing the immediate needs of the economy with long-term structural reforms

Digitisation a game changer for Indian economy, says IMF chief economist

Applauding India's digitisation efforts, the chief economist of the International Monetary Fund (IMF) on Wednesday said the move was a game changer as it had allowed the Indian government to do things that would have been extremely difficult otherwise. "Digitisation is helping along a number of dimensions. One is financial inclusion, obviously because there are a lot of people in countries like India that were unbanked. And having access to digital wallets is a way in which they can enter into transactions that are not just cash transactions, which are very inefficient," Pierre-Olivier Gourinchas, the chief economist of IMF, told PTI in an interview in response to a question about India's digitisation efforts. "I think it (digitization) has allowed the (Indian) government to do things that would have been extremely difficult to do otherwise. Yes (it is a game changer). It is certainly something that is a very welcome development, Gourinchas suggested. So that's a huge plus in terms

India bright light economy, but reforms needed for $10 trn GDP: IMF

India has emerged as a bright light at a time when the world is facing imminent prospects of a recession, the chief economist of the International Monetary Fund (IMF) said on Wednesday, noting that the country, however, needed key structural reforms in order to achieve the ambitious target of being a USD 10 trillion economy. Pierre-Olivier Gourinchas, chief economist of the IMF said: Well, India is, I want to say, sort of bright light. The Indian economy has been doing reasonably well. In its World Economic Outlook on Tuesday, the IMF projected a growth rate of 6.8 per cent in 2022 as compared to 8.7 per cent in 2021 for India. The projection for 2023 slides down further to 6.1 per cent, he noted. Responding to a question on the ambitious goal of India becoming a USD 10 trillion economy, Gourinchas told PTI that he certainly believes this is achievable. I mean, we've seen a number of countries grow at very fast rates in the past and really develop very rapidly. So, I think it's ..

Best of BS Opinion: Discouraging history, clarity on macro policy & more

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

Macro policy for uncertain times

External storms are morphing into hurricanes. India is in a relatively better position than many other countries, but this period of heightened volatility will require agility and clarity on policy

India's growth, external profile solid buffers against turbulence: S&P

More severe conditions could put pressure on its sovereign credit ratings, says agency