Page 45 - Indian Economy

Fresh salvo at GDP for not capturing ground manufacturing activities

While most criticisms of the data related to GDP are on overestimating economic activities on ground, the latest one in fact censures it for underestimating the manufacturing sector in recent times

A flooded Bengaluru reminds us of Indian cities' lack of preparation

The money spent by the cities for flood is often far less than needed and since the buy-in from the public is weak, the effectiveness of the projects is shallow

RBI's expected soft landing for India means fast, if not fastest, growth

Economists see Reserve Bank of India Governor Shaktikanta Das and his monetary policy panel colleagues to begin dialing down the pace of interest-rate hikes this month

The case for greater centre-state coordination to meet long-term goals

Many public policy experts and policymakers have stated that more mechanisms are needed for regular centre-state coordination and interaction on various issues

Retail inflation rises to 7% in Aug as food prices surge; IIP growth slows

FinMin blames adverse base effect, increase in food and fuel prices

Despite over 20% rally from June lows, analysts bullish on broader markets

With the recent rally, the Nifty Midcap 100 now trades at an 18-per cent premium to large-caps at 23.2x

India's retail inflation rises to 7% in August; July IIP tumbles to 2.4%

India's retail inflation has been above RBI's upper tolerance limit of 6% for eight consecutive months

Top headlines: Retail inflation rises to 7% in August; AI leases 30 planes

India plans to pay about Rs 20,000 crore ($2.5 billion) to the state-run fuel retailers, such as Indian Oil Corp., to partly compensate them for losses and keep a check on cooking gas prices

Recovery tracker: Spike in air passenger numbers, power generation up

Vehicle registrations were lower than the week before

India's merchandise exports to rise over 11% to $114 bn in July-September

India's merchandise exports are expected to grow by 11.4 per cent to hit USD 114.4 billion during the July-September quarter of the current financial year, data from Exim Bank showed. However, the rise in exports during the second quarter of FY23 could be shadowed by softening global commodity prices. Among others, possible slowdown in major trade partners, inflationary pressures and tight monetary policies around the world could also offset the exports gain, Export-Import Bank of India (Exim Bank) said in its quarterly data. Exim Bank releases the forecast during the first weeks of June, September, December and March for the corresponding quarters. The policy banker for the government has an in-house model to generate an Export Leading Index (ELI) for the country to track and forecast the movement in India's exports on a quarterly basis. ELI gauges the outlook for country's exports. It is essentially developed as a leading indicator to forecast growth in total merchandise and othe

Jaishankar optimistic about India achieving 7% growth despite Ukraine war

India has made powerful efforts to grow its economy and emerge as a higher-income country, External Affairs Minister S Jaishankar has said, expressing hope that it will be the fastest growing major economy in the world this year with at least 7 per cent growth despite the challenges posed by the Ukraine crisis. Jaishankar arrived here on Saturday on a three-day visit to Saudi Arabia to discuss ways to further strengthen relations between the two countries. It is his first visit to Saudi Arabia as External Affairs Minister. "Began my visit to Saudi Arabia with interaction with our community. Appreciated the contribution of our Diaspora in facing national challenges. Spoke to them about our country's resilience, especially during the time of the Covid and national transformation that is underway in India," Jaishankar tweeted. Addressing the Indian community here on Saturday, Jaishankar said: "India thinks about the ways in which it can change its credit, banking, education and labour

Consultations in progress on revising WPI base year to 2017-18: DPIIT secy

Inter-ministerial consultations are progressing on revising the Wholesale Price Index (WPI) base year from 2011-12 to 2017-18, a top government official has said. Revising base year to 2017-18 for computation of wholesale inflation would help in presenting a more realistic picture of the price situation in the country. The Department for Promotion of Industry and Internal Trade (DPIIT) in June last year issued a draft technical report of a working group, which suggests revising the base year of wholesale price index and addition of about 480 new items such as medicinal plants, pen drive, lifts, gymnasium equipment and certain motorcycle engines in the new series. The draft report was placed in public domain and its feedbacks were considered before finalisation of the report. "The working group submitted its report in June. ...Now inter-ministerial consultation is in progress," DPIIT secretary Anurag Jain told PTI. In the case of agriculture commodities, new items such as medicinal

Financial inclusion through fintechs

By helping to eliminate information asymmetry across the user journey, fintech has made the equitable distribution of financial services easier. This ensures better inclusivity.

Indian economy in 2047 will be like powerhouse driving global growth: Goyal

The Confederation of Indian Industry (CII) estimated that India in 2047 will be a $35-45 Trillion economy, taking the country into the league of developed nations, Piyush Goyal said

After duty hike on some varieties, Centre bans broken rice exports

India exported around 1.8 MT broken rice between April-June

India's retail inflation likely rose in Aug, ending 3-month downtrend: Poll

Food inflation, which accounts for nearly half the consumer price index (CPI) basket, is expected to have soared as prices of essential crops like wheat, rice and pulses were driven higher

Need to boost investor confidence for sustainable, transformative growth

India needs to show investors not only that they can achieve decent returns in the country but that their money is safe here

FTA may boost India's exports to Bangladesh by $10 billion in five years

For Bangladesh, the potential of additional exports to India could range from $3 billion to $5 billion in a time span of 10 years

Bonds, rupee strengthen as crude oil prices fall below $90 a barrel

Hope of global index inclusion drags down bond yields, FPI flows bolster rupee

Amit Shah urges states to work together for development of cooperatives

Cooperation Minister Amit Shah on Thursday exhorted states to work together for the holistic development of cooperative sector so that it can contribute significantly in making India a USD 5 trillion economy. Addressing a two-day National Conference of State Cooperation Ministers here, Shah asserted that efforts should be made to ensure that cooperative movement run at the same speed in every state of India, a statement said. "In those states where the activities have stopped or slowed down, the effort should be to accelerate. For that, we need a new national cooperative policy," Shah, who is also the Union Home Minister, said. The new policy should be framed to ensure all round development of cooperative sector in all states and Union Territories, and also identify new areas, he added. Shah pointed out that cooperative movement is strong in West and South India, but in developing stage in north and central India while least developed in east and north-eastern states. He asserted