Page 1411 - Economy & Policy News

Credit to MSMEs, agriculture rises; personal loans register 12.6% growth

Credit growth to agriculture and allied activities accelerated 11.3%, compared with 4.7% the previous year

Core sectors' output soars by 56.1% in April due to low base effect

But it is down 15% sequentially due to second wave

Demand pushes up construction and manufacturing sectors in Q4FY21: Experts

However, the growth is largely driven by pent-up demand and holds ominous signs for the current quarter as the second wave is seen to have affected that very part of the economy

Second Covid-19 wave: OECD cuts India growth forecast to 9.9% for FY22

OECD said while India is projected to be the fastest-growing G20 economy in 2021, it will also be the one which is the furthest away from its pre-crisis GDP trend

The bounce-back in construction buoyed the growth numbers, shows data

Gross fixed capital formation (investment) hit an all-time high of Rs 13.4 trillion in the fourth quarter of 2020-21

Retail inflation for industrial workers eases to 5.14% in April

The maximum upward pressure in current index came from Food & Beverages group contributing 0.43 percentage points to the total change.

Food, fertiliser bills push govt subsidy up three times in FY21

The government spent Rs 5.3 trillion in food subsidies during the pandemic-hit last year--over five-fold increase over 2019-20 when it spent Rs 1.08 trillion

Centre's fiscal deficit for FY21 settles at 9.2% of GDP vs target of 9.5%

This was on the back of better-than-expected revenue receipts with expenditure staying broadly at the level targeted in the revised estimates of the Budget

Towards indigenisation: MoD puts 108 defence items on import ban list

This list supplements an earlier import embargo on 101 defence items announced last August

Powerful lobbying in US against India's Covid vaccine IP waiver push

While big pharma has vehemently opposed India's move on compulsory licensing, even non-pharma influencers such as Bill Gates are against sharing vaccine technology without patenting

Effective measures needed to support demand creation, maintain jobs: PHDCCI

The government has to step up with effective policy measures are needed to support demand creation and maintain employment, industry chamber PHDCCI said on Monday.

Govt gives approval to four firms under PLI scheme for bulk drugs

The government has given approval to four waitlisted firms under the Production Linked Incentive (PLI) scheme for domestic manufacturing of bulk drugs, an official statement said on Monday.

Covid-19: Apex body of amusement park industry writes to PM, seeks help

In India, there are about 150 amusement/water parks and about 1,000 indoor amusement centres.

GDP growth springs a positive surprise: Four implications for FY22

The positives apart, it is clear consumption can't rebound meaningfully without large-scale vaccination; the good news is the rate is likely to improve steadily in the coming months

India's GDP grows 1.6% in fourth quarter, contracts 7.3% in FY21

This is the first full-year contraction in the Indian economy in the last four decades since 1979-80, when GDP had shrunk by 5.2 per cent

GDP growth number: A pleasant surprise, but will it help in FY22?

With the second wave leading to a close down of services, in particular, progress will remain retarded

Eight core sectors' output grows 56% in April on low base effect

In March this year, the eight sectors had recorded a growth rate of 11.4 per cent.

Forecast: Global economy rebounding, but faces multiple threats

The OECD said that relief and stimulus measures in the more developed world had done much to get the economy through the pandemic recession and back on the path of growth.

India's fiscal deficit at 9.3% of GDP in 2020-21: Govt data

Unveiling the revenue-expenditure data of the Union government for 2020-21, the Controller General of Accounts (CGA) on Monday said that the revenue deficit at the end of the fiscal was 7.42 per cent

Asset monetisation to gather pace in road sector, says Crisil

The rating agency said the asset monetisation potential is supported by healthy investor interest either through investment at asset level, or infrastructure investment trusts (InvITs).