Page 31 - India Gdp

India's current account to register surplus of $30 bn in FY21: Report

The deficit stood at $24.6 billion or 0.9 per cent of GDP in FY20

At up to 50%, cars in India suffer among the highest tax rates globally

Cars and two-wheelers attract 28% GST and a cess in the range of 3-22%, taking the effective tax rate to up to 50%

Rising growth expectations pull up business sentiment in Q2FY21: CII Survey

Latest quarterly survey shows capacity utilization improving, but firms worried over low profits, weak domestic demands and rising inflation

Whatever the calculation, India's Q1 GDP contraction is severest among all

Irrespective of whether it is sequential or year-on-year, the inference remains the same; South Africa's 50% contraction is "annualised" and is incomparable to India's 24% fall

OECD sees world economy withstanding coronavirus better than forecast

The better view reflects the strong economic pickup in recent months and the vast injection of public resources

Govt aims to enhance digital economy's contribution to 20% of GDP in 5 yrs

Kumar added that AI and other emerging technologies will play a key role in achieving the target, and involvement of all stakeholders is needed

We continue to remain committed to India operations: Toyota Kirloskar Motor

The statement follows a Bloomberg report which said that Toyota did not plan to expand further in India

Data tagging absent in green finance despite rising demand: Study

Climate Policy Initiative, a global analysis and advisory organisation specialising in sustainable finance, is planning to launch a portal to track such investment in the country

Moody's forecasts 11.5% contraction in India's economic growth in FY21

The downward revision in India's forecast for FY21 comes on the heels of a sharp contraction in Indian economy in the April-June 2020 period

Crisil projects wider GDP contraction for FY21 at 9%, from 5% earlier

Attributes it to Covid-19 cases and lack of stimulus from govt

IMF says India needs another fiscal stimulus, income support to fight Covid

In the short term, a detailed well communicated and credible medium-term fiscal consolidation plan is also important, alongside an increase in fiscal transparency, IMF said

Govt aims to create 50 mn jobs in 5 years in MSME sector, says Gadkari

The minister also called for broadbasing support for innovations and entrepreneurship so that bonafide new talent also gets a chance to grow

Farm sector will continue to shine in 2020-21 but rural as a whole may not

The non-farm sector occupies a large part of rural income, and unless it grows substantially, just expecting farm growth to bring about rural sector revival is unreasonable, say experts

Why the massive expansion in RBI's balance sheet isn't really extraordinary

As a share of nominal GDP, the balance sheet is well within the levels of the past few years; yet it could influence every sphere of economic activity in the country

Rating firms rework their India FY21 GDP forecasts with sharper contraction

Impact on wages to severely dent consumption and decelerate recovery, says India Ratings

Goldman Sachs to Fitch: Global rating agencies cut India's GDP forecast

Downward revision follows a sharp contraction in the economy in the April-June period, when GDP came in at a negative 23.9 per cent YoY, the worst show in nearly four decades

Centre has walked the talk on capex, shows official data

Data from Controller General of Accounts shows capital expenditure for April-June 2020, at Rs 88,273 crore, was 40% higher than a year ago, though the gap narrowed to just 4% by July-end

Power generation, rail freight show gains among weekly economic indicators

Gains seen compared to the previous week, besides improvement relative to 2019

Experts advise caution on stagflation fears amid 24% GDP contraction

Say Centre, RBI should ensure their policies don't stoke inflation

Statsguru: 24% GDP contraction and enormity of Centre's fiscal challenge

If annual expenditure is kept unchanged from the budgeted Rs 30 trillion, a worst-case scenario can push Centre's fiscal deficit to 8.1 per cent of GDP