Page 846 - Economy & Policy News

Economy likely to grow 6.5%-7% next fiscal year, says Sanjeev Sanyal

Global agencies such as the International Monetary Fund and the World bank, for instance, have forecast India's growth will be 6.1% and 6.0%, respectively, next fiscal

India to offer slew of incentives to boost shipbuilding industry: Report

The plans include subsidies so that at least 50 new vessels can be built as well as the granting of "infrastructure status" to the industry which would help with financing from banks, said the govt

India's open access solar capacity grows 91% to 596 MW in Jul-Sep: Report

Installation of open access solar capacity in India increased by 91 per cent to 596 megawatt (MW) during the July-September period, according to Mercom Research India.

Rural distress harming MSMEs, pulling down manufacturing: Economists

Government's PLI schemes can help manufacturing and reduce import dependence in some sectors, say some experts

India's electricity consumption grows 14% to 112.81 billion units in Nov

India's power consumption logged a double-digit growth of 13.6 per cent to 112.81 billion units in November 2022 compared to the year-ago period

Boosted by agriculture demand, petrol, diesel sales see double-digit growth

Rabi crop sowing led to a pick-up in economic activity and a rise in demand

Manufacturing PMI rises to 55.7 in Nov as factory activity hits 3-mth high

The survey compiled by the rating agency - S&P Global, and released reflected an improvement in employment and purchases by factories

Structure of insurance laws to be altered with proposed amendments: Experts

The proposed amendments to the Insurance Act 1938 and the Insurance Regulatory and Development Authority Act 1999 alters the basic structure of the insurance laws, said experts

S&P Global lowers India's growth forecast; pegs it at 6% for 2023

S&P Global Ratings said the forecast has been lowered by 0.5 per cent for next two fiscal years

Agriculture, allied activities clock a buoyant 4.6% growth in 2nd quarter

Gross value added (GVA) for agriculture, forestry and fishing during the comparable period of last year was 3.2 per cent

Q2 GDP numbers: Growth seen tapering in the July-September quarter

The growth had fallen drastically from 13.5 per cent in the April-June quarter and was even lower than last year's number of 8.4 per cent

Kirit Parikh panel recommendations: 'Remove caps on gas prices by 2027'

The committee has also recommended a ceiling price of $6.5 per mmBtu, which may be increased yearly by about $0.5 per mmBtu till 2027, Parikh said

Centre's fiscal deficit touches 45.6% of Budget target till October

With the GDP numbers out, the deficit stood at 4.7 per cent of GDP in the first six months of FY23

Private consumption edges up in Q2; infra investment almost flat

PFCE, a proxy for household and private sector consumption, was 61.6% of nominal GDP in Q2FY23, as against 61.1% in the previous quarter and 59.5 per cent a year ago

Robust activity in services sector holds up 6.3% GDP growth in Q2

GDP grew 7.6 per cent in the September quarter of FY23 over the comparable period in FY20, which was before the pandemic

Govt plans pilots on new direct benefit transfer model for fertilisers

Currently, the version of DBT in fertilisers involves farmers purchasing their fertilisers through point of sale (PoS) devices after undergoing Aadhaar authentication

Govt temporarily defers sale of AAI's residual stakes in 4 JV airports

The AAI holds 26 per cent stake each in joint ventures that operate Delhi and Mumbai airports

RBI authorises Tamilnad Mercantile Bank to undertake government business

Private sector lender Tamilnad Mercantile Bank (TMB) on Wednesday said it has been authorised by the Reserve Bank of India to undertake government business on behalf of the banking regulator

Investors want more of India as it improves infra: Goldman Sach's Sengupta

India has consistently attracted annual foreign direct investments of $50 billion to $55 billion, even in the pandemic, Sengupta said

Economy will grow over 6.8% in FY23, says CEA V Anantha Nageswaran

While on the growth outlook of the next financial year FY24, he said he is optimistic on the growth story than many of global agencies forecast