Page 47 - India Economy

July GST revenue at over Rs 1.16 trn; govt says it marks economic recovery

Revenues for July 2021 are 33 per cent higher than GST collected in the same month last year.

Equity investors richer by Rs 31 trn this fiscal as bull run continues

The 30-share BSE Sensex has jumped 3,077.69 points or 6.21 per cent during April-July this fiscal.

Fiscal deficit worries could be on backburner: Niti Aayog's Rajiv Kumar

'If you have to spend money because you have to save both lives and livelihoods then that's what you have to do,' he says.

India's coal import rises 20 pc in May; volumes may be subdued in monsoon

India's coal import rose 20.4 per cent to 19.92 million tonnes (MT) in the month of May. The country had imported 16.54 MT of coal in May last fiscal, according to data compiled by mjunction Services. "On a year-on-year basis, however, India's coal and coke imports in May 2021 were up 20.4 per cent as against 16.54 MT clocked in May 2020," it said. Import volumes of dry-fuel, it said, are expected to remain subdued in the ongoing monsoon season on account of lower demand, firm prices and high freight rates. India's coal import also rose 25.4 per cent to 42.19 MT in the first two months of the ongoing fiscal, against 33.63 MT of coal imported in the corresponding period of previous financial year, it said. Of the total import in May, non-coking coal was at 13.64 MT, against 10.54 MT imported in May last financial year. Coking coal import was at 4.41 MT, up against 3.18 MT imported in May last fiscal. During April-May, non-coking coal import was at 28.96 MT as compared to 22.82 MT

Top forecaster stays bullish on Indian Rupee, Southeast Asia currencies

Alvin Tan, head of Asia currency strategy at RBC Capital Markets, says biggest risks for Asian currencies are a more hawkish Federal Reserve.

Cairn says it has won court order to freeze India state assets in Paris

Company says French development is 'necessary preparatory step' to take over Indian's state assets, calls for 'amicable settlement'.

Cairn Energy freezes 20 Indian state-owned properties in Paris: Reports

Scottish oil producer's action is its latest attempt to force India to pay $1.7bn awarded by an international tribunal over a tax dispute.

Covid undoes gains India made after supercharging economy 30 years ago

Many Indians who had clawed their way out of poverty face grim job prospects and carry heavy debt loads.

Massive overhaul

Cabinet reshuffle signals govt's willingness to improve performance

Diesel crosses Rs 100 in MP; Sikkim latest state to have petrol at Rs 100

Petrol has crossed Rs 100 a litre mark in Mumbai, Chennai, Bengaluru, Hyderabad and Pune.

Fiscal deficit at 8.2% in April-May as tax collection rises, lockdowns ease

Deficit was less 30 per cent less of last-year's level amid the nationwide lockdown to contain the coronavirus.

India's core sector output in May grows 16.8% year-on-year on low base

Steel, refinery products, cement, electricity, crude oil witnessed contraction due to restrictions imposed by various state governments

Large part of FM's stimulus package will work only in medium-term

The government and the central bank's credit measures appear to show India has gotten its priorities against a possible third wave of Covid-19.

Indian economy poised for recovery in FY22, says SBI Chairman

SBI Chairman Dinesh Kumar Khara has expressed hope that the country's economy would recover in the ongoing financial year

Bull run will last for 'very, very long time', says Rakesh Jhunjhunwala

Annual equity returns from Indian stocks will be about five percentage points, says ace investor.

As Covid made employee verification tough, 32% firms turned to tech: EY

Survey makes a case for tech-driven tailored approach, rather than one-size-fits-all process.

Recovery tracker: Workplace visits rise to April-end levels as curbs ease

Retail & recreation visits at nearly 60% of normal times

India's record foreign exchange pile may not be adequate: RBI paper

Foreign exchange reserves surged to $605 billion in the week to June 4 as the central bank mopped up dollars.

Govt okays proposal to roll out project to explore deep ocean for resources

The cost of the mission has been estimated at Rs 4,077 crore over a five-year period and will be implemented in phases

India should focus on exports, attracting best manufacturers: NITI Aayog

NITI Aayog CEO Amitabh Kant said that path to India's economic recovery post pandemic lies in attempting to focus on capturing the export markets, and push for consumer demand as the economy opens up.