Page 154 - Indian Economy

Growth on strong footing, further tightening needed: RBI report

On the exchange rate, the report said the rupee was holding its poise, with adequate supplies of dollars

CAD to come in at 9-year high in first quarter of FY23: Ind-Ra

Merchandise exports likely to slow down and come in at $104.2 bn in second quarter of the year

MSMEs contribute 30% to India's GDP, to grow further: Narayan Rane

India's youth would be the flag bearer of the growth and hence need to be supported by better work opportunities, said Narayan Rane

SCO summit: Indian economy expected to grow by 7.5% this year, says PM Modi

Indian economy is expected to grow by 7.5 per cent this year and it will be the highest among the world's largest economies, Prime Minister Narendra Modi said at the annual summit of the Shanghai Cooperation Organisation (SCO) on Friday. In his address at the summit in this historical Uzbek city, the prime minister also said India is making progress to become a manufacturing hub while highlighting various aspects of the country's economy. "We are making progress on making India a manufacturing hub. India's young and talented workforce makes us naturally competitive," he said. "India's economy is expected to grow by 7.5 per cent this year, which will be the highest among the world's largest economies," Modi said. The prime minister made the remarks in presence of Russian President Vladimir Putin, Chinese President Xi Jinping, Pakistan Prime Minister Shehbaz Sharif and other leaders of the influential bloc. "We are supporting innovation in every sector. Today, there are more than 70

India's high govt borrowing may be offset by lower debt issuance: ICICI Sec

Indian government's potential higher borrowing in the second half of this financial year could be offset by lower debt issuance by states, ICICI Securities Primary Dealership said.

India set to become $10 trillion economy by 2030, says Hardeep Singh Puri

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said that India is on the path to becoming a $10 trillion economy in 2030 and the third largest economy in the world by 2047

FSDC stresses on the need to monitor India's financial sector risks

Meeting discusses that it's endeavour of regulators to ensure incidents like the NSE colocation scam don't repeat and there are better ways to deal with the fallout

Bond yields rise 8 bps, as OIS rates surge on US inflation data

The rupee weakened versus the dollar as the market braced for a possible 100-basis-point rate hike by the Federal Reserve next week following a higher-than-expected inflation print in the US

Infrastructure firms can resist further rupee depreciation: Moody's

Generally, corporate infrastructure issuers have features that shield them to currency weakness

India's roller-coaster ride to growth

Professor Balakrishnan dwells on key events and indicators rather than drawing up an extensive listing of milestones and data

India Ratings cuts India's FY23 GDP growth forecast to 6.9% from 7%

India Ratings projects GDP growth of 7.2 percent in July-September FY23 quarter, 4 percent in October-December and 4.1 percent in February-March

Largest states lead as e-way bill generation climbs, shows data

A government statement on September 1 noted higher GST collections for August, though it did not mention statewise numbers on e-way bill generation

WPI-based inflation softens to 11-month low at 12.41% in August

However, this is the 17th consecutive month since April 2021 that the factory-gate inflation has remained in the double digit, primarily driven by rising energy and food prices

India 2022: Getting bigger but not richer

The link between the size of the economy and prosperity is tenuous

Exports rise marginally in Aug; trade deficit more than doubles to $28 bn

India's exports rose marginally by 1.62 per cent to USD 33.92 billion and trade deficit more than doubled to USD 27.98 billion in August, data released by the commerce ministry said on Wednesday. Trade deficit in August 2021 stood at USD 11.71 billion. Imports rose by 37.28 per cent to USD 61.9 billion in August this year. During April-August 2022-23, exports registered a growth of 17.68 per cent to USD 193.51 billion. Imports during the five-month period of this fiscal grew by 45.74 per cent to USD 318 billion. Trade deficit widened to USD 124.52 billion in April-August this fiscal as against USD 53.78 billion in the same period last year.

India is counting on debut sovereign green bond to lower financing costs

The govt has developed a framework to sell the debt in line with widely-used principles from the International Capital Market Association, and is also liaising with the World Bank over best practices

WPI inflation eases to 12.41% in Aug as prices of manufactured goods dip

August is the 17th consecutive month of double-digit wholesale price inflation (WPI)

Staying out of IPEF's trade pillar: There are two sides to this debate

There is no meeting ground between politics which is looking at the elections this year, and economics, which is looking at the next decade

Amid high inflation, surge in services demand helps steady India's economy

The indicators showed sentiment in the services sector -- which accounts for over 50% of the $3.2 trillion economy -- was upbeat, tax revenue were robust and demand for loans high.

Manufacturing in dire straits: Output up just 1.1% compared with 2019-20

Electricity output has grown around 11%; consumer durables and non-durables have contracted 6.7% and 2.4%, respectively