Page 3 - Economic Systems

Optimism should not cause premature triumphalism: CEA Nageswaran

India's growth engine can become faster and accelerate if the much-awaited private sector capital formation kicks into a higher gear, he said

Optimism should not cause premature triumphalism: CEA Nageswaran

India's growth engine can become faster and accelerate if the much-awaited private sector capital formation kicks into a higher gear, he said

Finance Commission confronts fiscal prudence challenges with minimal ToR

Experts say minimum ToR issued to avoid controversies and simplify state memoranda

Mumbai tops metros in reporting economic offences in 2022: NCRB data

India's financial capital Mumbai recorded 6,960 cases of economic offences in 2022, the highest in any metro city, according to the latest data released by the National Crime Records Bureau (NCRB). Cases of cyber crime also jumped in Mumbai to 4,724 last year from 2,883 in 2021, showed the data compiled by the NCRB, which is part of the Union home ministry. Hyderabad, with 6,015 cases of economic offences last year, was ranked second followed by Delhi (5007) on the third spot, as per the report. Among the total economic offences registered in Mumbai, 1,093 were of criminal breach of trust, whereas forgery, cheating and fraud cases stood at 5,855, it said. As per an analysis of the loss of property in metropolitan cities in 2022 due to criminal breach of trust, at least 18 cases were of amounts between Rs 10 crore and Rs 15 crore, 7 between Rs 25 crore and Rs 50 crore, 6 between Rs 50 crore and Rs 100 crore and one was above Rs 100 crore. In terms of registration of cyber crimes, .

India will be the world's third largest economy by 2030, says VP Dhankhar

Vice President Jagdeep Dhankhar on Friday said India will go past Japan and Germany to become the third largest economy in the world by 2030. Addressing the closing ceremony of the 'Country-led Initiative' organised under the United Forum on Forests (UNFF) here, the vice president said India was among the "Fragile Five" two decades back, but it has now become the fifth-largest economy in the world. In 2022, India went past Britain and France to become the fifth-largest economy in the world, he said, adding that there are full indications that by the end of the decade, it will take the third spot. Dhankhar said international organisations such as the International Monetary Fund have called India a"shining destination" in terms of investment and opportunities. He said that India's digital transactions are four times that of the US, UK, France and Germany. The vice president added that per capita internet data usage in India is also more than the total data consumption of the US and .

Statsguru: 6 charts explain economic challenges for poll-bound states

Chhattis­garh, Madhya Pradesh, Mizoram, Rajasthan, and Telangana grew between 4 and 6 per cent in the years after 2018-19

India needs structural reforms to achieve higher growth levels: IMF

In response to another question on the impact of a sharp increase in bond yields on emerging markets, Srinivasan said that both the public and private sectors should be careful while borrowing

Assam cabinet approves Rs 3,000 cr for 1,000 km economic corridor project

The Assam cabinet on Monday approved Rs 3,000 crore for an 1,000-km-long economic corridor project in the state, Tourism Minister Jayanta Malla Baruah said. The cabinet gave its in-principle approval for the project under the Asom Mala Scheme, he told reporters. The cabinet also approved projects worth Rs 950 crore to improve rural infrastructure. The fund will be obtained from NABARD as a loan. The loan will be used to upgrade 90 rural roads and four rural bridges under the Public Works Department, he said. It was also decided that the cabinet meetings in November and December will be held in Tinsukia and North Lakhimpur districts, respectively, while in January next year, it will be held in Nagaon. The deputy commissioners have been advised to limit the expenditure for cabinet meetings to Rs 5 lakh, and also not to undertake any new repair works of circuit houses and inspection bungalows for the purpose, the minister said. The cabinet also approved the revised draft notification

ED not expected to be vindictive in conduct, should act with probity: SC

The Enforcement Directorate is not expected to be "vindictive" in its conduct and must act with utmost probity and fairness, the Supreme Court has held, and directed the anti-money laundering agency to henceforth furnish the grounds of arrest to the accused in writing "without exception". In a significant verdict having far-reaching ramifications, the apex court said being a premier investigating agency charged with the onerous responsibility of curbing the debilitating economic offence of money laundering in the country, every action of the ED in the course of such exercise is expected to be "transparent, above board and conforming to pristine standards of fair play in action". "The ED, mantled with far-reaching powers under the stringent Act of 2002, is not expected to be vindictive in its conduct and must be seen to be acting with utmost probity and with the highest degree of dispassion and fairness," a bench of Justices AS Bopanna and Sanjay Kumar said. The top court, which set

NCCD's innovative cold chain conclave paves way for J&K's economic growth

He discussed NCCD's role in advancing the cold chain sector with a focus on energy, technology, and climate, which would open up investment opportunities in Jammu and Kashmir

Malawi looks to deepen trade relations with India in key economic areas

African country Malawi looks to deepen trade and investment relationship with India in areas of energy, agriculture, mining and tourism, its High Commissioner to India Leonard Mengezi said here on Saturday. Mengezi said that Malawi looks forward to cementing the "great cohesion" with businessmen in Gujarat to further strengthen India-Malawi relationship and attract investment. Mengezi was here to participate in the India-Malawi Trade Conference organised by India Africa Trade Council with the aim to enhance business cooperation with Gujarat. "Malawi has been in great trade, economic and investment relations (with India) since 1964, when Malawi got its independence. But there is a need to deepen relationships further in the areas of energy, agriculture, mining, tourism," he told mediapersons. "We need to cement great cohesion with the business people here in Gujarat so as to strengthen Malawi-India relations, so that there is a greater understanding and we take business people who a

India says rising oil prices a concern, but economic outlook 'bright'

India, the world's third-largest energy importer, purchases more than 80% of its crude oil from international markets

Reforms must for Sri Lanka's economic recovery: President Wickremesinghe

Sri Lankan President Ranil Wickremesinghe on Thursday promised the countrymen a future of economic stability without hardships, as he asked them to support the government's reform efforts for reviving the island nation's economy after its bankruptcy. In a televised address, Wickremesinghe, who is also the finance minister, said: "These reforms will lead to decreased cost of living, improved standards of living, relief for the poor and a culture of transparency. He said the country's economy is gradually recovering thanks to the correct policies adopted by the govt over the past nine months. Wickremesinghe said the costs saving measures had led to positive outcomes, including reduced inflation, and increased remittances. He said that the country's development has been based on four primary pillars - fiscal and financial reforms, investment drive, social protection and governance and state-owned enterprises transformation. Everyone must support reform efforts. The government promise

Sensex, Nifty bounce back after 3-day fall on easing inflation; IT shine

Benchmark Sensex and Nifty bounced back on Friday after a three-day decline following buying in index major Infosys and Tata Consultancy Services amid a firm trend in global equities. The 30-share BSE Sensex gained 303.15 points or 0.51 per cent to settle at 60,261.18. During the day, it jumped 460.23 points or 0.76 per cent to 60,418.26. The broader NSE Nifty rose by 98.40 points or 0.55 per cent to end at 17,956.60. From the Sensex pack, Tata Steel, IndusInd Bank, Infosys, UltraTech Cement, NTPC, Bajaj Finance, Hindustan Unilever, Tata Consultancy Services, ICICI Bank and Maruti were among the major winners. Titan, Nestle, Larsen & Toubro, Axis Bank, ITC and Asian Paints were among the major laggards. HCL Technologies and Infosys recovered from early losses to end in green. Infosys on Thursday reported a better-than-expected 13.4 per cent rise in profit for the December quarter and raised its annual sales forecast on a strong deal pipeline even as it warned of "constraints" in

Rupee rises after benign U.S. inflation print, forward premiums jump

The Indian rupee rose against the dollar on Friday following another fall in the U.S. inflation rate, while forward premiums rose to their highest level in two months

Cyient DLM files preliminary papers worth Rs 740 cr with Sebi through IPO

Electronic Manufacturing Services (EMS) firm Cyient DLM Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 740 crore through an Initial Public Offering (IPO). The initial share-sale is purely a fresh issue of equity share with no Offer-For-Sale (OFS) component, according to the Draft Red Herring Prospectus (DRHP). The company may consider issuance of securities aggregating up to Rs 148 crore in a pre-IPO placement round. Funds raised through the IPO would be utilised for funding incremental capital requirements, capital expenditure, debt payment, achieving inorganic growth through acquisitions as well as for general corporate purposes. Cyient DLM, a subsidiary of Cyient, is the leading integrated EMS and solutions provider with a focus on the entire life cycle of a product, including design, build and maintenance. It has three state manufacturing facilities in Hyderabad, Bengaluru and Mysore. The India EMS is a sizable industry, contributing to 2.2 pe

Yoginder K Alagh (1939-2022): An exceptionally generous economist departs

Born in pre-independence India, Alagh has left behind a rich legacy in the world of economic policymaking

India can bring world together for better future, says PM Narendra Modi

Modi unveils logo, theme, website of India's upcoming G20 presidency

Delhi schools, students in a jam as state-owned bus fleet is withdrawn

Costs rise for all sides as state govt is forced to look at options providing a safe, economical transport option

Indian economy projected to grow 7.1-7.6% in current fiscal: Report

Indian economy is expected to grow 7.17.6 per cent in the current financial year despite shifting geopolitical realities across the world, a report said on Wednesday.