Page 111 - Indian Economy

S&P affirms India's sovereign rating at BBB-, with stable outlook

The stable outlook on the long-term rating reflects the global credit rating agency's view that India's strong economy and healthy revenue growth will support its weak fiscal settings

India remains a bright spot, likely to grow 6.7% in 2024: UNDESA report

UN retains CY23 forecast at 5.8%; investment, exports to remain weak

Stubborn funding squeeze risks derailing India's economic recovery

After a surge in recent weeks, the weighted average call rate which Reserve Bank of India closely monitors, has shot above its policy rate ceiling of 6.75%

Underwhelming performance

Without economic integration, trade strategy will not work

CPI inflation dips to 18-month low of 4.7% in April; IIP slows to 1.1%

With inflation remaining well below the tolerance band, experts foresee the RBI to maintain an extended pause

Huge potential to increase eco ties between India,Canada: Piyush Goyal

World Food India show in November 2023 can serve as the platform that can showcase the best of India and collaborate with businesses across the world, the minister said

Growth in working-age population calls for more jobs: RBI Deputy Guv Patra

The RBI deputy governor said the potential for boosting savings and investments considerably enhances India's emergence as a future economic powerhouse in the world

India on path to be 3rd largest economy: MSME Min urges industry to invest

Union MSME minister Narayan Rane on Wednesday urged the global and domestic industries to continue to invest in India, which is on its path to become the third largest economy. He made the remarks at 'GIC 23 Intergovernmental Connect' organised by Inventivepreneur Chamber of Commerce and Industry (ICCI) in association with the Ministry of Micro, Small & Medium Enterprises (MSME) here. "From 10 largest in 2014, India today is 5th largest economy. Only Japan and Germany are ahead of us. We will become the 3rd largest by 2030 as envisioned by our prime minister," he said addressing around 200 delegates from across the globe at the event. The minister further said that immense business opportunities are available in various sectors in India and promised full support to investors looking to invest in the country. The country will see various industrial parks across various locations and the investors can explore business opportunities in this area, he said. He also said the industry ..

Direct tax buoyancy again falls sub-2% in 2022-23

It should be noted that direct tax collection figures are still provisional and GDP figures are on the basis of second advance estimates for 2022-23. The actual figures may change the outcome slightly

Roads, traffic and GDP

Addressing the problem of slow and chaotic traffic movement could enhance productivity and welfare in India

India frets over US proposal seeking advance tariff notices at IPEF

Fears reduction in policy elbow room; wants industry's views

Strong interest globally in learning from India's growth journey: Vaishnaw

The country is emerging as a technology powerhouse, and there is strong interest in learning from India's growth journey as a technology developer, Union Minister for Communications and IT Ashwini Vaishnaw said on Thursday. The minister was on Japan visit to attend G7 Digital and Tech Ministers' Meeting on April 29 and 30. "India is clearly emerging as a technology powerhouse and a trusted partner because of PM Modi ji's visionary programs like Digital India and Make in India. Today globally, there is a strong interest in learning from India's growth journey as technology developers," Vaishnaw said in a statement here. While representing India at the meeting, Vaishnaw delivered a presentation on India's digital public infrastructure. "India showcased how digital infrastructure is being developed to provide solutions at a population scale. Use cases of Aadhaar, UPI, Cowin etc. were demonstrated. Delegates from other countries greatly appreciated India's progress in the development a

India's consumption is expected to become 50% cashless by FY26: Report

There will be some 350 mn digital consumers in 'cash displacement market' in three years

Aiming for the high road

Government's policies can either enable or limit our prosperity

Railways earns Rs 2,242 cr from senior citizens by suspending concession

The Railways has earned an additional revenue of around Rs 2,242 crore from senior citizen travellers in 2022-23 by revoking concession offered to them, an RTI response has found. The national transporter had generated Rs 1,500 crore in excess between March 20, 2020 -- when the assistance was suspended after the onset of the Covid pandemic -- and March 31, 2022. In its reply to a Right to Information (RTI) query filed by Madhya Pradesh-based Chandra Shekhar Gaur, the Railways said that between April 1, 2022 and March 31, 2023, it did not offer concessions to almost eight crore senior citizens which included about 4.6 crore men, 3.3 crore women and 18,000 transgenders. The total revenue from senior citizen travellers during the period is Rs 5,062 crore which includes an additional Rs 2,242 crore, earned due to the suspension of the concession, according to the RTI reply. For the Railways, the earnings from senior citizen fares has increased at a steady pace. Between March 20, 2020 a

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Indian economy demonstrates strength, GDP to grow at 6% in FY23: Acuite

Most lead indicators at the start of 2023 continue to display resilience, with incremental data Feb-23/Mar-23 faring better than Jan-23

FY24 MGNREGS budget might last just a few months if enough work provided

During below-normal monsoon years, MGNREGS acts as a cushion for rural labourers who find it difficult to get work in the fields and farms

Incriminating material must for any addition to taxable income: SC

The court, however, left the scope for the authorities to re-open the cases of tax violation if any incriminating evidence emerges later

Issue of GST on intermediary services to foreign clients may get resolved

However, there could be issues in claiming input tax credit by these intermediaries