Page 157 - Indian Economy

SME Chatroom: 'Assessable value can be different from invoice value'

There is a specific box in the bill of entry for Free of Charge (FOC) imports

Tough for India to replicate the outperformance over EMs: Manish Gunwani

We have relatively strong growth and a healthy corporate earnings cycle as positives, but a worrisome current account deficit and high inflation as challenges, says Manish Gunwani.

'Must provide jobs to those not well-educated to go beyond freebies'

Harvard Business School professor Christian Ketels says it isn't useful to think of manufacturing versus services jobs; a range of sectors need to be mobilised for job creation

Exports fall 1% in August to $33 billion; trade deficit remains elevated

"Conservative" merchandise export target set at $450 billion in FY23, says commerce secretary. Department's internal target remains $470 billion

Q1 GDP growth below expectation, cause for concern: Ex-RBI guv Subbarao

India's GDP growth of 13.5 per cent in the April-June quarter of 2022-23 has turned out be a cause for 'disappointment and concern', as there was expectation of a bigger bounce back from the first quarter of last year when economic activity was crippled by the Delta wave of COVID-19, former RBI governor D Subbarao said on Sunday. Subbarao added that risk factors for the country's growth outlook in the short term include high commodity prices, possibility of a global recession, monetary tightening by the RBI and an uneven monsoon that could threaten crop output, especially of rice. "The economy clocked growth of 13.5 per cent in the first quarter (April-June) of this fiscal year which would have been cause for celebration in any other circumstance. "In the event, it's turned out be a cause for disappointment and even concern," he told PTI in an interview. India's economy expanded 13.5 per cent in the April-June quarter, the quickest pace in a year. As per the RBI's estimates, the ..

BJP says inflation under control due to PM's policies, slams Congress

Hitting back at the Congress for its criticism on the issue of price rise, the BJP on Sunday said Prime Minister Narendra Modi has brought the inflation rate under control despite adverse circumstances which is being "appreciated" by citizens but the Congress party is not able to see it. BJP national general secretary and in-charge for Rajasthan Arun Singh said inflation rate in other countries has gone up to 20-25 percent but it is the vision and policies of the prime minister that inflation is under control. Inflation is not going to be an issue here because the prime minister has controlled the inflation, Singh told reporters when asked about the issue of inflation being raised by the Congress. Singh is in Jaipur to attend the core committee meeting of the state unit. Look at the neighbouring countries of Sri Lanka, Pakistan, Bangladesh, even you go and see in the UK or US...the way inflation has increased in the countries of the world, 10 percent, 15 percent and up to 20-25 ...

Sweets-snacks trade can touch all-time high of Rs 1.25 trn: Manufacturers

As markets are regaining the traditional excitement this festive season after lacklustre sales during the COVID-19 pandemic, the trade of sweets and namkeen (snacks) in the current financial year is likely to reach an all-time high of Rs 1.25 lakh crore, says an industry body representative. During the Rakshabandhan festival last month, the trade of sweets and snacks witnessed a tremendous growth, Federation of Sweets and Namkeen Manufacturers director Firoz H Naqvi told PTI. "The demand of modak and other sweets has also increased in the ongoing Ganesh festival and this trend is expected to continue during the forthcoming Dussehra, Diwali and Holi festivals too, he said. The federation is an apex body of sweets and other snacks manufacturers. In view of the current trend in the market, the total trade of sweets and snacks during this financial year is likely to cross all previous figures and touch an all-time high of Rs 1.25 lakh crore, as the online sale and home delivery of thes

China missing among nations driving India's foreign fund inflows

Foreign direct investment (FDI) into India stood at $58.8 billion in 2021-22 with Singapore and the US being the top two major contributors among the list of 15 nations

Congress to hold protest rally against inflation at Delhi's Ramlila Maidan

Congress will hold a 'Mehngai par halla bol' protest rally today at the Ramlila Maidan in the national capital against price rise and policies of the central government

India is likely to become third largest economy by 2029: SBI report

As per the SBI report, India had surpassed the UK as the fifth largest economy as early as December 2021 itself

Economic 'Long Covid': India better, but it's on the same planet as others

In a difficult pandemic-hit period, India may be doing better than almost all other large economies, but the over-arching goal of rapid economic growth just does not show on the map, notes T N Ninan

Can India's GDP grow 7% annually over 25 yrs? Data suggests it's tough

India has seen GDP growth of 7% or more for five straight years only once in the past 30 years

Rupee closes at 79.8 versus dollar amid rise in crude oil, hawkish Fed view

Rupee logs first weekly gain in four, outperforms all EM currencies

1-year median MCLR rise moderates in August, up 40 bps since June

Foreign banks have raised it the most, median rate up 90 bps; just 20-bp rise for private banks

Goyal to attend IPEF ministerial in US next week; focus on trade ties

To meet US commerce seretary, trade representative in Los Angeles next week

Britain slips behind India to become world's sixth biggest economy

The former British colony leaped past the UK in the final three months of 2021 to become the fifth-biggest economy

Modi govt destroying economy with its cluelessness, incompetence: Congress

The Congress on Friday hit out at the Union government alleging India's growth story is being pushed back due to the inept handling of the economy and cluelessness on the part of the Modi government. It also asked the government whether it will now go back on its promises of making the country a USD 5 trillion economy, doubling farmers' income, and providing pucca houses to all by 2022. "It is evident now that the BJP government due to its inept handling of the economy, no focus, and cluelessness, is pushing the Indian growth story back," Congress spokesperson Gourav Vallabh said at a press conference. Citing the GDP growth numbers, he said India has seen a growth of only 3 per cent in the last three years and accused the government of "destroying" the Indian economy. "These are highly worrying numbers, with prospects not looking very bright due to inaction by the Modi government. Even SBI had a downward growth forecast for FY23 from 7.5 percent to 6.8 percent," he said, noting tha

CAD may touch nine-year-high in Q1FY23 as net exports soar

India's CAD stood at 1.5% of GDP in the March quarter of FY22 compared to a CAD of 2.6% of GDP in the preceding quarter of FY22

Day after Q1 GDP data, a spate of forecast cuts by banks, institutions

Moody's cut its forecast to 7.7%, from 8.8%, citing dampening economic momentum in the coming quarters on rising interest rates, uneven monsoon, and slowing global growth

Investments rise in June quarter, but still lower than 30% of GDP

Though GFCF growth at 10-year high in constant price terms, but experts say that is overstated