Page 144 - Indian Economy

Heads of Missions meet to discuss strategies to put states on global map

While the envoys said they were energised by their state visits, there were some glaring gaps. Maharashtra, Karnataka, and Tamil Nadu were significant omissions

White collar crime affecting economy to be considered seriously: CBI court

A white collar crime involving and affecting the nation's economy has to be considered seriously, a special court here observed while denying bail to former Maharashtra minister Anil Deshmukh in a corruption case probed by the Central Bureau of Investigation (CBI). The Nationalist Congress Party (NCP) leader was arrested on November 2, 2021 and has been in judicial custody. He is currently admitted to a private hospital for coronary angiography. The special CBI court on Friday rejected Deshmukh's bail plea and the copy of the same was made available on Saturday. The court observed that the investigation had established the factum of collection of money from bar owners and delivery of the same to Deshmukh through Kundan Shinde (a former aide), who is also accused in the case. "In the present case, so far it is clear that a huge amount affecting the economy of nation is involved. Such a white collar crime involving and affecting the economy of the nation has to be considered seriousl

Dhanteras begins on positive note; jewellers expect footfalls to increase

Dhanteras, spread over two days of the weekend, got off to an auspicious start on Saturday as consumers began trickling in to markets, with jewellers expecting the momentum to increase towards the evening. Dhanteras, which marks the first day of Diwali in India, is considered an auspicious occasion to buy gold and silver as part of Hindu festivities. "Since the day has just begun, the footfalls are just trickling in. As this year Dhanteras is spread over the weekend, we expect the momentum to increase towards the afternoon and evening and tomorrow. "Mainly, since morning people who had pre-booked, are coming to pick up the items to avoid the crowd," All India Gem And Jewellery Domestic Council chairman Ashish Pethe told PTI. Since the last 3-4 days the consumer sentiment has been good and the sales momentum has been positive. The industry expects a good two days of business, he added. PNG Jewellers Chairman and Managing Director Saurabh Gadgil said in Maharashtra, the footfalls ha

Best of BS Opinion: A less predictable outlook, de-extinction, and more

Here is the best of Business Standard's opinion pieces for today

A less predictable outlook: How will Indian economy do in Samvat 2079?

While the frothier end of the market of unicorns has already seen a low tide when it comes to fresh funding, the more sober end of the market might provide a positive surprise, writes T N Ninan

RBI should focus on softening core inflation: MPC's Shashanka Bhide

"As far as monetary policy is concerned, moderation in the core inflation should be the priority," Shashanka Bhide, an external member of the Reserve Bank of India's monetary policy committee, said

India rice export curbs to end a decade of price stability: Report

India's recent curbs on rice exports could trigger a rally in global prices after more than a decade of stability, traders said, as New Delhi's protectionist move coincides with falling output

Economy lightens up on festive season demand as shoppers back in force

Online marketplaces Amazon.com Inc., and Walmart Inc.-owned Flipkart saw sales jump 27% from a year ago to $5.7 billion during the festival season's first sale between Sept. 22-30

India suffered income loss of $159 bn due to extreme heat in 2021: Report

India suffered an income loss of USD 159 billion, 5.4 per cent of its gross domestic product, in the service, manufacturing, agriculture, and construction sectors due to extreme heat in 2021, according to a new report. Heat exposure in the country led to the loss of 167 billion potential labour hours, a 39 per cent increase from 19901999, said the Climate Transparency Report 2022 compiled by an international partnership of organisations. Labour productivity in India is projected to decline by five per cent from the 19862006 reference period if global temperatures increase by 1.5 degrees Celsius, it said. The decline in labour productivity will be 2.1 times more if the global temperatures increase by 2.5 degrees Celsius, and 2.7 times at a three degree Celsius scenario. Between 20162021, extreme events such as cyclones, flash floods, floods, and landslides caused damage to crops in over 36 million hectares, a USD 3.75 billion loss for farmers in the country, the report said. The an

Unseasonal rain, crop losses could keep India's food inflation high

Economists say annual headline inflation will likely start easing from September's 7.41% peak but price pressures on grains, vegetable, and milk will persist

India's economic growth outlook stagnates, stuck in lower gear: Report

India's economy will grow well below its potential over the next two years, with inflation staying above the mid-point of the RBI's tolerance band, according to a Reuters poll

Global economy facing disruptions, India can't be decoupled: Rakesh Mohan

Country has to tailor its actions in response to international crises, says economist and former deputy governor of RBI

Tussle over secrecy delays trade data compilation by Commerce Dept: Sources

The development comes in the backdrop of India's merchandise exports witnessing 4.8 per cent year-on-year rise to $35.45 billion in September

Lot of work required to bring country's economy back to life: Rahul Gandhi

Congress leader Rahul Gandhi on Wednesday said a lot of work was required to bring the country's economy crippled by the Narendra Modi regime at the Centre back to life irrespective of whether the rupee was strong or weak. Responding to questions at an interaction with media during his ongoing Bharat Jodo Yatra in Adoni, he said BJP's policies had completely destroyed the strength of India's economy and it was not just a question of the dollar price. "Idea of strong or weak rupee, whether it is good or bad... it is actually more nuanced than that. It doesn't actually work like that. But it is the question of how you look and think about the Indian economy," Gandhi remarked. A strong rupee has advantages and disadvantages. Both have to be taken into account, he said. The Wayanad MP noted that job creation in the Indian economy has always happened on the back of small and medium businesses and a strong agriculture sector. "Demonetisation and GST destroyed both these systems. Lakhs

How is centre faring on its non-tax revenues, divestment targets in FY23

The total non-tax revenue target for the year is Rs 2.69 trillion, while that for disinvestment is Rs 65,000 crore

Despite economic recovery, real rural wage growth remains flat in FY23

The growth in nominal terms has been steady but the sharp rise in inflation seems to have eaten into the increase

Recovery tracker: More people travelling by air, workplace visits up 9.7%

Indian Railways registers higher growth in quantity of goods carried

Govt must set moderate divestment targets, says DIPAM Secretary

Last fiscal year, the government raised just over Rs 13,500 cr from the sale of stakes in state-owned firms, a fraction of its target of Rs 1.75 trn and missing its divestment goal for a third straigh

Cocktail of macroeconomic data paints bleak picture of global economy

Long, short or medium, all of the announcements by governments of the world are "willing and able" to make the equity, currency and commodity markets gyrate wildly

Top Headlines: Diesel car cost likely to rise, recession in 2023, and more

Indian CEOs are expecting a decline in growth prospects of companies and the country, but are expecting to bounce back in the short-term, a report said