Page 149 - Indian Economy

World Bank slashes India's economic growth forecast to 6.5% for FY23

Cites Ukraine war, global policy tightening

56 mn Indians may have turned poor in 2020 due to pandemic: World Bank

"The global goal of ending extreme poverty by 2030 is likely to be missed: by then, about 600 million people will remain in abject poverty. A major course correction is needed," Indermit Gill said.

World currency reserves shrink by $1 trn this yr in record drawdown

Reserves have declined by about $1 trillion, or 7.8%, this year to $12 trillion, the biggest drop since Bloomberg started to compile the data in 2003

Services PMI at 54.3 in Sep; slowest expansion in 6 months amid weak demand

Growth in India's services industry slumped in September to a six-month low, led by a substantial easing in demand amid high inflation

Wheat arrivals in India at 12-year high during Aug-Sept across markets

According to the agriculture ministry's data, wheat arrivals are the highest since 2010 when the amount was 4.38 MT

Centre allocates Rs 26,000 crore for installing 25,000 telecom towers

State-owned BBNL to take up work that will ensure connectivity across the country

Registration by medical device resellers made a must, may impact mask sales

Apart from masks, even condoms sold at groceries may be brought within the ambit of the rule; industry feels govt may come out with an exemption list for common items

Can reducing 'state-litigation' solve half of the judiciary's problems?

Yes, the government is the biggest litigant in the country, but this is not the whole truth

India's unemployment rate of 6.4% in September is the lowest in four years

It was rural India that made the bigger con­tri­bution to the turnaround in labour conditions

TMS Ep273: Protectionism, bullish CEOs, gas prices, demat and trading a/c

Why is India Inc protectionist? Why are global CEOs bullish about India? Will the spike in natural gas prices affect related stocks? What is a demat and a trading account? All answers here

India may not be able to completely avoid impact of global recession

Lower global commodity prices to help the economic growth

Why are global CEOs bullish about India?

India continues to remain as a bright spot on the world economic map. That's the sentiment echoed by prominent global CEOs recently. Find out the reasons driving the bullish sentiment

Aug tax collections decline 7.7%; personal income tax mop-up drops 37%

Direct taxes fall 42% to Rs 34,972 crore, from Rs 60,363 crore in August last year

Recovery tracker: Vehicle registrations in latest week up 15% over 2019

Better aviation traffic in seven days to Oct 2, freight numbers improve

India's manufacturing PMI cools to three-month low in September

To rein in inflation, the RBI had hiked its key interest rate by a cumulative 190 basis points since early May

Capital inflows: The perils of a bad neighbourhood

India's strong medium-term growth outlook may not suffice for foreign capital to flow, as existing channels that bring global savings to India face turbulence

India's economic growth to decline to 5.7% in 2022, says UNCTAD

India's economic growth is expected to decline to 5.7 per cent this year from 8.2 per cent in 2021, a top UN agency projected on Monday, citing higher financing cost and weaker public expenditures. India's GDP will further decelerate to 4.7 per cent growth in 2023, according to the forecast by the United Nations Conference on Trade and Development (UNCTAD) Trade and Development Report 2022. India experienced an expansion of 8.2 per cent in 2021, the strongest among G20 countries. As supply chain disruptions eased, rising domestic demand turned the current account surplus into a deficit, and growth decelerated, the report said. It noted that the Production-Linked Incentive Scheme introduced by the government is incentivising corporate investment, but rising import bills for fossil energy are deepening the trade deficit and eroding the import coverage capacity of foreign exchange reserves. As economic activity is hampered by higher financing cost and weaker public expenditures, GDP .

Service sector may be included in the Wholesale Price Index soon: Report

A government panel headed by Niti Aayog's Ramesh Chand is finalising the changes in the WPI to include 60 per cent of the economy for the first time

Manufacturing PMI dips to 3-month low of 55.1 in September on poor demand

India's factory growth dipped to a three-month low in September due to a moderation in demand and output, despite easing inflationary pressures and strong business confidence

FTP extension gives time to rethink present policies

The commerce ministry should rethink its strategy of walking away from multilateral/regional trade negotiations and getting into more and more bilateral trade agreements