Page 4 - Economy Of India

Indian govt's record borrowing in FY24 likely to hit high next fiscal year

The Indian government's borrowing will likely hit a record high next fiscal year, as it prioritizes growth, which could push bond yields higher, ICICI Bank's treasury head told on Thursday

India exports 1.69 million tons of sugar till Jan 4 of FY23: Report

India has exported 16.92 lakh tonnes of sugar till January 4 of the ongoing 2022-23 marketing year, including 59,596 tonnes of the sweetener to neighbouring China, trade body AISTA said on Tuesday. Among other neighbouring nations, India has exported 1.47 lakh tonnes of sugar to Bangladesh, and 82,462 tonnes to Sri Lanka during October-January 4 of the current marketing year, All India Sugar Trade Association (AISTA) said in a statement. The sugar marketing year runs from October to September. The government has allowed export of 6 million tonnes till May of the 2022-23 marketing year. According to AISTA, mills have exported a total of 16,92,751 tonnes of sugar from October 1, 2022 to January 4, this year. Over 3.47 lakh tonnes of sugar is under loading, while 2.54 lakh tonnes of sugar has been delivered to refineries considered to be deemed export in the said period, it said. Of the total exports undertaken so far, maximum exports have been to Somalia at 1.70 lakh tonnes, followe

PE inflows plunge 42% to $23.3 bn in 2022, lowest since 2019: Report

Private equity investments into domestic companies fell sharply year-on-year by 42 per cent to USD 23.3 billion in 2022, which is the lowest since 2019, when it was USD 15.8 billion, according to an industry report. The numbers reflect the overall funding winter that the startup space in particular, and the overall foreign investments in general have been witnessing since the Ukraine war began last February. Private equity investment inflows into the country fell by a sharp 42 per cent in 2022 from last year to USD 23.3 billion -- the lowest annual inflows since 2019 when it was a low USD 15.8 billion, but still relatively elevated compared to historical levels, said Elaine Tan, a senior analyst at Refinitiv, the LSEG business arm that provides financial markets data and insights. The report did not say how many deals were closed in the year. In the December quarter, the PE investments totalled USD 3.61 billion, down 8.1 per cent sequentially from USD 3.93 billion and fell 67.2 per

What does 2022 tell us about Indian economy in 2023?

As the year comes to a close, the country has emerged as a bright spot in an otherwise dark global economic horizon. But, does that mean that all was well on the economic front in 2022? Let's find out

Vedantu gives pink slips to 385 employees in 3rd round of layoffs this year

It has sacked over 1,100 employees, so far, amid funding winter

No pause in sight: A 25-basis-point rate increase in Feb can't be ruled out

The key takeaway from the governor's 3,000-word statement is 'the battle against inflation is not over'

What do industry trends say about consumption and the economy?

While TVs and luxury apparel flew off the shelves in cities, rural demand for FMCG products saw a negligible jump in October. What do these industries say about consumption in India and its economy?

GDP growth may have beaten MPC estimate of 6.3% in Q2, say most economists

The GDP numbers for the second quarter of the current financial year are scheduled to be out by this month end

India not decoupled from world and will face some slowdown: Deepak Parekh

It will be a $7.5 trillion economy within 5 years, says chairman of HDFC Ltd

Opposition parties term demonetisation 'economic genocide', 'criminal act'

Describing demonetisation as an "economic genocide", a "criminal act" and an "organised loot", opposition parties slammed the BJP-led Centre for its decision taken on this day in 2016 to scrap high-value currency notes. On November 8, 2016, Prime Minister Narendra Modi announced the demonetisation of the old Rs 1,000 and Rs 500 banknotes. The key objectives of the decision were to promote digital payments and curb black money, besides eliminating terror funding. At a press briefing here, the Congress alleged that demonetisation was the "greatest organised loot" in independent India and demanded a white paper on it from the Modi government. In a tweet, Kharge said: "6 years of 'Organised Loot and Legalised Plunder'. Tribute to those 150 people who lost their lives due to #Demonetisation disaster. As we observe 6 years of this epic failure, it is important to remind the PM about the ill-conceived calamity which he thrust upon the nation." Former Congress chief Rahul Gandhi also hit o

Bet on infrastructure funds to gain from government push: Experts

High cost of capital, change in policy key risks for these funds

India needs to be flexible as G-20 chief in face of global challenges: CEA

Nageswaran flags climate finance as a key agenda of bloc in face of 'unknown unknowns'

As RBI spreads out Fx interventions, forward premium hits 11-year lows

The central bank looks to protect headline reserves, deter offshore/onshore arbitrage on Rs with buy-sell swaps in forex market

140 million pulled out of poverty in India since 2015-16, says UNDP

Incidence of multidimensional poverty declined from 55.1% in 2005-06 to 16.4% in 2019-21

India may attract $475 bn in FDI over next five years: CII-EY survey

The study says 71% of MNCs see the country as a key destination for their global expansion

States' MGNREGA under probe for potential financial misappropriation

Some states have been using more than permitted MGNREGA funds to build rural infrastructure instead of generating livelihood opportunities for rural needy, says Central government

How the G20 Summit can be leveraged to showcase India's tourism sector

Thrust on developing the tourism industry will help India achieve the $5 trillion economy target faster

Strong dollar vs foreign inflows: Rupee in fine balance ahead of Fed meet

Analysts expect rupee to trade in the range of 78-80 per dollar, for now

India Ratings cuts India's FY23 GDP growth forecast to 6.9% from 7%

India Ratings projects GDP growth of 7.2 percent in July-September FY23 quarter, 4 percent in October-December and 4.1 percent in February-March

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.