Page 39 - Indian Economy

Centre allocates Rs 26,000 crore for installing 25,000 telecom towers

State-owned BBNL to take up work that will ensure connectivity across the country

Registration by medical device resellers made a must, may impact mask sales

Apart from masks, even condoms sold at groceries may be brought within the ambit of the rule; industry feels govt may come out with an exemption list for common items

Can reducing 'state-litigation' solve half of the judiciary's problems?

Yes, the government is the biggest litigant in the country, but this is not the whole truth

India's unemployment rate of 6.4% in September is the lowest in four years

It was rural India that made the bigger con­tri­bution to the turnaround in labour conditions

TMS Ep273: Protectionism, bullish CEOs, gas prices, demat and trading a/c

Why is India Inc protectionist? Why are global CEOs bullish about India? Will the spike in natural gas prices affect related stocks? What is a demat and a trading account? All answers here

India may not be able to completely avoid impact of global recession

Lower global commodity prices to help the economic growth

Why are global CEOs bullish about India?

India continues to remain as a bright spot on the world economic map. That's the sentiment echoed by prominent global CEOs recently. Find out the reasons driving the bullish sentiment

Aug tax collections decline 7.7%; personal income tax mop-up drops 37%

Direct taxes fall 42% to Rs 34,972 crore, from Rs 60,363 crore in August last year

Recovery tracker: Vehicle registrations in latest week up 15% over 2019

Better aviation traffic in seven days to Oct 2, freight numbers improve

India's manufacturing PMI cools to three-month low in September

To rein in inflation, the RBI had hiked its key interest rate by a cumulative 190 basis points since early May

Capital inflows: The perils of a bad neighbourhood

India's strong medium-term growth outlook may not suffice for foreign capital to flow, as existing channels that bring global savings to India face turbulence

India's economic growth to decline to 5.7% in 2022, says UNCTAD

India's economic growth is expected to decline to 5.7 per cent this year from 8.2 per cent in 2021, a top UN agency projected on Monday, citing higher financing cost and weaker public expenditures. India's GDP will further decelerate to 4.7 per cent growth in 2023, according to the forecast by the United Nations Conference on Trade and Development (UNCTAD) Trade and Development Report 2022. India experienced an expansion of 8.2 per cent in 2021, the strongest among G20 countries. As supply chain disruptions eased, rising domestic demand turned the current account surplus into a deficit, and growth decelerated, the report said. It noted that the Production-Linked Incentive Scheme introduced by the government is incentivising corporate investment, but rising import bills for fossil energy are deepening the trade deficit and eroding the import coverage capacity of foreign exchange reserves. As economic activity is hampered by higher financing cost and weaker public expenditures, GDP .

Service sector may be included in the Wholesale Price Index soon: Report

A government panel headed by Niti Aayog's Ramesh Chand is finalising the changes in the WPI to include 60 per cent of the economy for the first time

Manufacturing PMI dips to 3-month low of 55.1 in September on poor demand

India's factory growth dipped to a three-month low in September due to a moderation in demand and output, despite easing inflationary pressures and strong business confidence

FTP extension gives time to rethink present policies

The commerce ministry should rethink its strategy of walking away from multilateral/regional trade negotiations and getting into more and more bilateral trade agreements

House panel flags poor placements, under-utilisation of funds in PMKVY 3.0

The committee is particularly concerned about the third edition of the scheme, as placement figures fall below 10%

Finance ministry confident of keeping FY23 fiscal deficit in check

Robust tax mop-up, savings through SNA dashboard bode well for balance sheet, say officials

Power consumption grows 13.31% to 127.39 billion units in September

India's power consumption grew 13.31 per cent on an annual basis to 127.39 billion units (BU) in September 2022 and 11.65 per cent during the first six months of this fiscal, as per government data. The double-digit growth highlights recovery in economic activities following the pandemic-induced lockdown, experts said. They are also of the view that demand as well as consumption of electricity will increase due to the festive season and improvement in economic activity. Power consumption in September last year was recorded at 112.43 BU, higher than 112.24 BU in the same month of 2020, power ministry data showed. Electricity consumption during April-September 2022 grew by 11.65 per cent to 786.5 BU compared to 740.40 BU in the same period in 2021. It was 625.33 BU in April-September 2020. The peak power demand met, which is the highest supply in a day, in September 2022 rose to 199.47 gigawatts (GW). The peak power supply stood at 180.73 GW in September 2021 and 176.41 GW in Septe

Inflation may fall to 5.2% next fiscal on normal rains, supply ease: Report

Persistently high inflation remains a key policy concern for the Reserve Bank, which has raised rates aggressively so far this year, but the pressure might ease next fiscal assuming normal rains and further normalisation of global supply chains without any exogenous shocks, according to an RBI report. The Reserve Bank of India (RBI) expects retail inflation to come under control at 5.2 per cent in the next financial year beginning April, down from 6.7 per cent it has forecast for the current year. "For 2023-24, assuming a normal monsoon, a progressive normalisation of supply chains, and no further exogenous or policy shocks, structural model estimates indicate that inflation will average 5.2 per cent," RBI said in its 'Monetary Policy Report September 2022'. The central bank is mandated to keep retail inflation in a range of 2-6 per cent. However, inflation has been above the RBI's upper tolerance level since January 2022 mainly due to adverse supply shocks amid geopolitical tensio

Fuel sales jump in Sep as economy activity picks up before festival season

Petrol and diesel sales in India jumped in September as economic activity picked up with the nearing festival season and the ending of the monsoon raised the demand, preliminary industry data showed. Petrol sales soared 13.2 per cent to 2.65 million tonnes in September when compared to 2.34 million tonnes of consumption in the same month last year. Sales were 20.7 per cent higher than Covid-marred September 2020 and 23.3 per cent more than pre-pandemic September 2019. Demand was, however, 1.9 per cent lower than the previous month of August 2022. Diesel, the most used fuel in the country, posted a handsome 22.6 per cent rise in sales in September to 5.99 million tonnes when compared to the same month last year. Consumption was up 23.7 per cent over September 2020 and nearly 15 per cent higher than pre-Covid 2019. The fuel, which had seen a near 5 per cent drop in sales in August when compared to the previous month of July, saw demand rise 1.3 per cent month-on-month. Industry sour