Page 136 - Indian Economy

Manufacturing PMI rises to 55.7 in Nov as factory activity hits 3-mth high

India's factory activity expanded at its fastest pace in three months in November, a private survey showed, signalling resilient demand despite

Top Headlines: India's G20 presidency from today; GDP growth in Q2 and more

Here is our morning brief of today's top headlines

Best of BS Opinion: Growth challenges, Re-design and deliver & more

Here are the top BS Opinion articles of the day

Q2 GDP numbers: Growth seen tapering in the July-September quarter

The growth had fallen drastically from 13.5 per cent in the April-June quarter and was even lower than last year's number of 8.4 per cent

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

Economy will grow over 6.8% in FY23, says CEA V Anantha Nageswaran

While on the growth outlook of the next financial year FY24, he said he is optimistic on the growth story than many of global agencies forecast

In 2022, world-topping $100 billion in remittances have come to India

Remittance flows to India will rise 12 per cent to reach $100 billion this year, according to a World Bank report published on Wednesday

G20's declining share in the world, amid India's growing influence

As the country prepares to host the summit of twenty nations next year in September 2023, it also has to tackle rising concerns of climate change and calls for the expansion of the group from other co

India Q2FY23 GDP: Looking beyond the noise

The Q2FY23 GDP numbers are unlikely to change the policy focus of RBI from withdrawing accommodation, with growth being in line with expectations

FM Nirmala Sitharaman confident of strong growth, low inflation in 2023

Sitharaman declined to describe specifics from the letter, but added that the government's top three priorities for 2023 will be "growth, health and education."

Growth challenges

Manufacturing sector decline needs policy support

India on track to achieve 6.8-7% GDP growth this fiscal, says CEA

The Indian economy is on track to achieve a 6.8-7 per cent GDP growth in the current fiscal, Chief Economic Advsior V Anantha Nageswaran said on Wednesday. He said the economic recovery momentum is continuing and the GDP is averaging the 2019-20 level. "In 2022-23, the economy is on track to reach a 6.8-7 per cent growth in the current fiscal," he said, adding festival sales, PMI, bank credit growth and auto sales data shows that the economy has maintained momentum despite global headwinds. The IMF has projected Indian economy to grow at 6.8 per cent this fiscal, while the RBI has pegged it at 7 per cent. India's economic growth slowed down to 6.3 per cent in the July-September quarter of this fiscal, as against 8.4 per cent in the same period 2021-22. India's economy grew by 9.7 per cent growth in the first half (April-September) of this fiscal.

Economic uptick boosts credit offtake beyond 20% in retail, services

The rise in credit was largely driven by housing and vehicle loans segments

Govt envisions doubling MSME sector's contribution to economy: Minister

The government envisages doubling the contribution of India's micro, small and medium enterprises sector to the economy by realising its full potential, Union Minister Bhanu Pratap Singh Verma said on Wednesday. The Micro, Small and Medium Enterprises (MSME) sector contributes one-third to India's gross domestic product (GDP). The Minister of State for MSME said the Ministry is working towards this objective by resolving bottlenecks. "Our vision is to double the contribution of MSME sector to India's economy by realising its full potential. We will resolve internal bottlenecks towards this objective," Verma said while addressing the Global MSME Summit here. The Global MSME Summit is being organised by CII in partnership with the Ministry of Micro, Small and Medium Enterprises to promote the visibility of Indian MSMEs and encourage international market linkages.

Budget 2023: How the finance ministry can kill many birds with one stone

The govt should shift all welfare spending into the capital spending account and call it an investment in social capital

Why this is India's decade

From being the 'office to the world', India is set to become its factory too

Budget may not be right time to restructure capital gains tax: Revenue secy

There's no need for having so many buckets under the capital gains tax structure or so many different permutations and combinations, says Tarun Bajaj

Budget 2023-24: 'Realistic' 10-11% nominal growth target on the table

Finance ministry expects moderation in retail inflation in FY24

Valuation, capital gains tax treatment key risks for the market: Analysts

The government, reports suggest, may rationalise long-term capital gains tax (LTCG) structure by bringing parity between similar asset classes

Caveat emptor

Investors need to be cautious and look beyond market highs