Page 35 - Economy

A coal-dependent India can't move to zero overnight: GE's Mahesh Palashikar

In a Q&A, the President of GE South Asia asserts that natural gas will bridge India's journey from coal to renewables, even as he points is massive potential in onshore wind energy

Cannot reboot SL's battered economy through painkillers: Wickremesinghe

Sri Lanka President Ranil Wickremesinghe on Sunday said he is fixing the debt-ridden country's economy by treating the "root cause" of the malaise and not by administering "painkillers", asserting that systematic change and national unity in conjunction with economic reforms are needed to achieve prosperity. President Wickremesinghe made these comments through a series of tweets a day after Sri Lanka celebrated its 75th Independence Day. Sri Lanka was hit by an unprecedented financial crisis last year due to a severe paucity in foreign exchange reserves that also sparked political turmoil in the island nation that led to the ouster of the all-powerful Rajapaksa family. I'm not treating the superficial condition with painkillers. I am treating the root cause of the malaise. Many of the decisions I have been compelled to take are unpopular, but because of these, no citizen will die in queues or starve, Wickremesinghe tweeted. From April to July last year, chaos reigned supreme in Sri

Don't bet against India, growth story to continue, say corporate leaders

No systemic risk to domestic financial system from recent events, they assert

Pakistan needs to enhance exports for sustainable economic growth: Minister

He said that Pakistan would get out of the economic swamp if it could elevate exports out of the indigenous resources from $32 billion to $100 billion in the next five to eight years

'Beyond imagination': Pakistan PM on IMF fund bailout conditions

Pakistan Prime Minister Shehbaz Sharif said on Friday the International Monetary Fund (IMF) was giving his country a "tough time" over unlocking stalled funding from a $6.5 billion bailout

Forex reserves at near 7-month high of $577 bn on spike in currency assets

Following a decline of $100 billion in its reserves from February to September of 2022, the RBI has over the last three months been replenishing its holding

Hits and misses: India's disinvestment strategy needs to mind markets

It is rare for the government to sell assets when prices and sentiment are high

No extension to lower withholding tax triggers concern among FPIs: Report

Currently, FPIs investing in government securities and corporate bonds avail concessional 5 per cent withholding tax rate

Budget 2023: Online gaming definition broad and vague, says IAMAI

IAMAI members have submitted their feedback to the ministry stating that the scoping of the rules has been done poorly and certain aspects need a major re-look

Budget 2023: Higher crude exploration drives non-tax revenue goal

The government lists receipts from licence fees for the right of exploration of oil and gas, as well as royalty on off-shore crude oil and gas production

Over 50% taxpayers may shift to new tax regime: Revenue secretary

"Goods and Services Tax (GST) growth is estimated at 12 per cent as we expect the economy to do better domestically. However, keeping excise and customs in mind, we lowered the overall target"

FPI outflows, Adani group's FPO cancellation sour mood for rupee

The domestic currency closed at 82.18 per US dollar as against 81.93 per dollar on Wednesday

G20 education working group likely to lead to university tie ups

Collaboration with Universities across the globe would be the major outcome of the deliberations at the Chennai Meet, Sanjay Murthy, Secretary Higher Education

Capex push, tax rationalisation: Brokerages give a thumbs-up to Budget 2023

Our equity strategists view the budget as positive for infrastructure and capex-sensitive sectors, says Goldman Sachs

RC Bhargava to Sanjiv Puri: BS jury welcomes focus on digital infra, growth

Private sector investments will be further facilitated by continued emphasis on infrastructure development and a higher provision for capital expenditure, said R C Bhargava, Chairman, Maruti Suzuki

PM Modi's election Budget unlikely to delay RBI path to rate pause

The new tax rates are unlikely to add to inflationary pressures in the economy in the near-term, said economists including Nirmal Bang Institutional Equities Pvt.'s Teresa John

Small businesses to common citizen: 5 key Budget proposals explained

Budget gives Rs 2.40 trillion to Railways: the highest-ever outlay for the national transporter

Jan manufacturing PMI falls to three-month low as production, exports slow

Companies increase input inventories by purchasing additional materials, but hiring remains unchanged broadly

Thai economy continued to recover in December 2022: Bank of Thailand

The country's economy continued to improve in the final quarter of 2022 from the previous quarter due to increasing foreign tourist arrivals, which bolstered services and private consumption growth

India imported more Russian crude oil than ever in January, shows data

India imported between 1.27 to 1.42 million barrels of Russian crude per day, which made up 28% of India's supplies in January, the highest ever