Page 100 - Indian Economy

Rural reprieve pushed India's unemployment rate to 1-year low in Sept: CMIE

The overall joblessness rate slid to 7.09% last month, from 8.10% in August, data from private research firm Centre for Monitoring Indian Economy showed.

Gross GST collection rises 10.2% to over Rs 1.62 trillion in September

September collection at Rs 1.62 trillion, takes the average monthly mop-up to Rs 1.65 trillion in FY24

The firms of middle India

Create conditions for companies to stay in and fight

India's core sector output touches 14-month high of 12.1% in August

In August last year, the core sector had grown by 4.2 per cent

India to be third-largest economy by 2027: Amit Shah expresses confidence

Addressing the 118th Annual Session of the PHDCCI at Vigyan Bhawan here, the Home Minister urged the industry to make more investments in research and development to make MSMEs world-class

Recurring criticism of GDP methodology: Here's what experts have to say

Business Standard interviewed former Chief Statisticians Pronab Sen and T C A Anant and former Acting Chairman of National Statistical Commission P C Mohanan, to seek their views

India growing amid decelerating global growth: Triveni Turbine MD

India is registering growth amid a decelerating global economy, and the country is on the cusp of achieving a "psychologically important" USD 5 trillion mark, industrialist Nikhil Sawhney said on Tuesday. The government has set an ambitious target to make India a USD 5 trillion economy in the coming years. Addressing business leaders here at a session of All India Management Association (AIMA), Triveni Turbine's Vice Chairman and Managing Director Sawhney said, this is India's century and the numbers point towards a great future for India. The country has over a billion consumer base and a strong workforce. India is already the fifth-largest economy in the world and it is set to become the third-largest soon. "India's GDP is nearing USD 4 trillion and it is on the cusp of achieving a psychologically important USD 5 trillion mark. India's digital economy is on the steroids and is set to grow to USD 1 trillion by 2026," he said. At a time when the global economic growth is decelerat

Inflation a cause of worry for FMCG companies; margins could take a hit

While companies remain cautiously optimistic about demand panning out this year, a dry August has already played spoilsport for demand, especially in rural areas

JPMorgan M&A head Aiyengar sees up to $150 billion funds focused on India

The New York-based banker pointed to India's fast-rising GDP among the attributes that make it so attractive

S&P retains India's FY24 growth forecast at 6% on slowing world economy

S&P Global Ratings on Monday retained India's growth forecast for current fiscal at 6 per cent citing slowing world economy, rising risk of subnormal monsoons and delayed effect of rate hike. The US-based agency sees the recent spike in vegetable price inflation as being temporary, but revised up the full fiscal retail inflation forecast to 5.5 per cent, from 5 per cent earlier, on higher global oil prices. "Growth this year will be weaker than in 2022, but our outlook remains broadly favourable. Notwithstanding the strong expansion in India in the June quarter, we maintain our forecast for fiscal 2024 (ending March 2024), given the slowing world economy, the delayed effect of rate hikes, and the rising risk of subnormal monsoons," S&P said in its Economic Outlook for Asia Pacific Q4 2023 report. Indian economy grew 7.2 per cent in 2022-23 fiscal year which ended March 2023. While retaining its growth forecast for the current fiscal at 6 per cent, S&P also maintained that .

India's economic growth threatened as household savings hit 16-year low

Household financial assets, including bank deposits, cash and equity investments, after deducting debt servicing and consumption, eased to 5.1 per cent of gross domestic product

Statsguru: Six charts explain the cost of lower financial savings

Households are said to have borrowed more to increase consumption

Boiling crude dry up chance of price cuts from oil marketing companies

Price of Indian crude basket hits 14-month high of $93.5 on September 21

Weekend Bites: India-Canada-Khalistan, women's Bill, and drugs on drones

In which we munch over the week's platter of news and views

JPMorgan index inclusion shows confidence in India's economy: Ajay Seth

Inclusion will start on June 28, 2024, and extend over 10 months, with 1% increments on its index weighting, as India is expected to reach the maximum weighting of 10%

India to become $5 trillion economy, third-largest by 2027: RBI DG Patra

India will be a USD 5 trillion economy and the third largest in the world by market exchange rates by 2027, aided by the demographic advantage and pace of financial sector development, Reserve Bank Deputy Governor Michael D Patra has said. Delivering a speech at the 16th SEACEN-BIS High-Level Seminar hosted by the National Bank of Cambodia on Monday, Patra said it is widely believed that during the next two decades -- if not for longer -- the centre of gravity of the global economy will shift eastward to Asia. The IMF's Regional Economic Outlook for Asia and the Pacific indicates that this region will contribute about two-thirds of global growth in 2023 itself and India will account for a sixth of world output growth in 2023 and 2024, he said. In terms of market exchange rates, he said India is the fifth-largest economy in the world and the third-largest economy on the basis of purchasing power parity. "Our assessment is that by 2027, India will be a USD 5 trillion economy and the

India slips one notch to 87th out of 165 nations on economic freedom index

India has fallen one notch to the 87th position out of 165 countries on the economic freedom index, according to a report released on Thursday. The country was at the 86th spot in previous year's rankings. The 'Economic Freedom of the World: 2021 Annual Report' by Canada's Fraser Institute has been released in India in conjunction with New Delhi-based think tank Centre For Civil Society. "From 1980 to now, India's rating has gone up considerably, from 4.90 to 6.62 but, our rank has fallen. This means while India is improving considerably in absolute terms but is not doing enough relative to other countries," it said. However, in South Asia, India is doing pretty well, as per the report. India reported marginal increase in the size of government (7.64 from 7.57) and and regulation of credit, labour and business (5.98 from 5.96), while it was down slightly in legal system and property rights (5.29 from 5.3) and freedom to trade internationally (6.19 from 6.27). A score closer to 10

Pre-Budget consultations to start from 10 October 2023, says govt

The department of economic affairs has asked the ministries to ensure that their data for the pre-Budget discussion is ready and filed by October 5

Local sugar supplies may pip demand in 2023-24, industry estimates

This comes even as there could be a deficit globally

Economy doing well even in unsupportive global environment: RBI MPC member

The Indian economy has started doing well even in an unsupportive global environment, as the Modi-led government implemented various reforms in the last nine years, resulting in improvements in key macroeconomic indicators, according to RBI Monetary Policy Committee (MPC) Member Ashima Goyal. But, there is still a long way to go to realise India's full potential, Goyal added. "The UPA government inherited a strong economy and benefitted from a high growth period. "But over-reaction to the global financial crisis after 2008 and many corruption scandals weakened the economy," she told PTI. Goyal was asked how she would compare the performance of the UPA government's ten years (2004-14) and the Modi-led NDA government's nine years in office. "The (Modi-led) NDA inherited double deficits (high fiscal deficit and high current account deficit), high inflation and weak banks, but has improved all these, and implemented other reforms so that the economy has begun to do well now even in a