Page 47 - Economy

Waiting for private sector to take the lead on capex: CEA Nageswaran

'Not necessary or healthy for public sector to keep expanding capital investment,' he says

UK-based Nithia Capital eyes 3.5 MT steelmaking capacity in India: CEO

Government infrastructure will fuel domestic steel consumption for two years, says Jai Saraf

78% of frontline workers in Delhi NCR employed in e-commerce sector: Survey

During pandemic, consumer sentiment improved for SMEs that went online, leading to a spike in frontline jobs, revealed study by BetterPlace, a tech platform for blue-collar workforce management

India faces no immediate impact of oil tanker pileup in Turkey: Officials

Situation could change if jam in Bosphorus Strait continues as a result of sanctions on Russian seaborne crude, they say

Concor stake sale: Inter-ministerial group expected to clear EOI today

Based on Concor's current market cap of Rs 46,674.9 crore, a 30.8 per cent stake in the company is valued around Rs 14,376 crore

China's politburo shifts focus to boosting economic recovery in 2023

The economy is expected to face bigger pressure from spiking Covid cases in the early stages of China's reopening

China's trade weakens to worst since first Covid lockdown as demand falls

The worsening trade performance is undermining a strong pillar of China's economy over the last two years, where the rise in exports to record levels have provided Chinese firms with stable demand

Remarkably resilient: World Bank ups FY23 India growth forecast to 6.9%

Says strong macro fundamentals place country in good stead

GST Council to discuss decriminalisation at Council meet on December 17

One of the proposals before the Council is to raise the threshold limit for launching criminal proceedings under GST for offences over Rs 20 crore

Hospitality industry sees welcome boost from India's G20 presidency

As President, India will host nearly 200 meetings across the country that thousands of delegates are expected to attend along with media, govt officials, event managers, private sector representatives

GST superstructure lacks some basic features even after 5 years

Currently, there is no appellate mechanism in place for rulings by the GST authorities and a group of ministers is deliberating on it

India set to export mobile phones worth $9 billion in FY23: Report

Phone exports have already crossed the $5 billion mark, twice more than the last year's $2.2 billion

India's G20 priorities to reflect that of the global south: Amitabh Kant

'This is a unique forum of both the developed world and emerging economies. We need to build new approaches that benefit them both'

Iran no longer importing tea and basmati rice from India, says report

There is no clarification from Iran for the stoppage but exporters believe that it is due to widespread anti-hijab protests in the country

Work demand under MGNREGS at 4-month high, FY23 funds almost exhausted

The budgetary allocation for MGNREGS has already been exhausted, if pending liabilities for the financial year are included

GeM closes in on Amazon, Flipkart in gross merchandise value

In FY22, govt's public procurement portal recorded a GMV of $14.2 bn, as against Amazon India's $17 bn and Flipkart's $23 bn

UK firms expect to raise prices 6% in 12 months, see inflation lingering

Inflation pressures in the UK economy showed only limited signs of abating in November, with companies expecting to raise prices by 5.7% in the coming 12 months

French GDP growth slows to 0.2% in Q3 after 0.5% rebound in Q2

France's GDP growth in the third quarter slowed down to 0.2 per cent in volume terms following a 0.5 per cent rebound in Q2

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

Sri Lanka inflation dips marginally to 61% in November from 66% in Oct

Sri Lanka's key inflation rate dipped marginally to 61 per cent in November, down from 66 per cent in October, the country's statistics office said on Wednesday, as the crisis-hit economy showed signs of recovery. The 12-month inflation by the Colombo Consumer Price Index peaked at 69.8 per cent in September and the National Consumer Price Index peaked at 73.8 per cent. The consumer price index in Colombo eased to 61 per cent in November, marginally down from 66 per cent reported in October, the Census and Statistics Department said. This is the second straight month that the key inflation rate has eased this year. Central Bank Governor Nandalal Weerasinghe on Wednesday said the dipping inflation rate after peaking to 70 per cent was a good indicator that the economy was trudging along the path of recovery. The Central Bank of Sri Lanka has raised borrowing costs by 950 basis points this year, taking the key rate to 15.5 per cent to tame rising prices. Colombo seeks to secure the