Page 213 - Indian Economy

World economy to top $100 trillion in 2022 for first time: Report

India will regain sixth position from France next year and become third largest economy in 2031, says study

Sustaining ops, biz health biggest issues for auto firms in 2022: MG Motor

The biggest challenge in 2022 for the automobile industry will be to sustain business operations and ensure financial health amid various challenges, including global semiconductor shortage, according to a top MG Motor India official. Currently, the domestic market is witnessing increased demand, but it is also impacted by the global semiconductor shortage, which has hit production activities. "The new normal has set unique challenges for the industry. The biggest challenge is to sustain business operations and ensure the financial health of the organisation and its stakeholders. With the industry having exhibited resilience over the last two years, we are looking towards 2022 with cautious optimism," MG Motor India President & Managing Director Rajeev Chaba stated. The situation will remain fluidic in 2022 due to unpredictable factors COVID-19, global semiconductor shortage, freight cost and multiple other cost implications, he added. Chaba noted that the company is committed to

Host of changes in GST law to come into effect from January 1, 2022

The GST regime will see a host of tax rate and procedural changes coming into effect from January 1, including liability on e-commerce operators to pay tax on services provided through them by way of passenger transport or restaurant services. Also, the correction in inverted duty structure in footwear and textile sectors would come into effect from Saturday wherein all footwear, irrespective of prices, will attract GST at 12 per cent while all textile products, except cotton, including readymade garments will have 12 per cent GST. While the passenger transport services provided by auto rickshaw drivers through offline/ manual mode would continue to be exempt, such services when provided through any e-commerce platform would become taxable effective January 1, 2022, at 5 per cent rate. The procedural changes that would come into effect include e-commerce operators, such as Swiggy and Zomato, being made liable to collect and deposit GST with the government on restaurant services ...

439 infrastructure projects show cost overrun of Rs 4.38 trillion

As many as 439 infrastructure projects, each entailing investment of Rs 150 crore or more, have been hit by cost overruns totalling more than Rs 4.38 lakh crore, according to a report

BofA expects 8.2% GDP growth for India in FY23 with more downside risks

The biggest risk to the projection is a derailed consumption demand that has been the main growth driver in the past many years, said the Bank of America Securities India house economists

Omicron spread: Night curfews may affect services sector recovery

During the first wave of the pandemic in 2020, a contraction in the services sector was sharper than in manufacturing and took seven months to return to expansion territory.

India and Australia discuss early conclusion of interim trade deal

Officials from both nations have been asked to expedite negotiations towards finalisation of the CECA

In India's water-stressed villages, Modi seeks a tap for every home

The ambitious project to meet a dire need shows Prime Minister Narendra Modi's strengths and helps explain his popularity despite a weakened economy

Few takers for Subramanian's theory that GDP collapsed before Covid

But those involved with GDP calculations concede he used robust parameters

Best of BS Opinion: Speculations about 2022, spirit of disinvestment & more

Here are the best of BS Opinion pieces of the day

2021, the year that was: 'Glocal' pandemic shocks, just as demand revived

The third of the year-ender series focuses on how Indian businesses suffered two global supply dislocations

Sitharaman to hold pre-Budget consultations with prominent economists today

Union Finance Minister Nirmala Sitharaman will hold pre-budget consultations with prominent economists on Wednesday in connection with the forthcoming general budget 2022-23."Union Finance Minister @nsitharaman will chair Pre-Budget consultations with prominent economists tomorrow afternoon, 22nd December 2021, in New Delhi in connection with the forthcoming General Budget 2022-23. The meetings are being held virtually," Finance Ministry said in a tweet.The General Budget is presented by the Finance Minister every year in Parliament on February 1.

Managing the spending bulge

Is the post-Covid rise in govt expenditure sustainable?

Best of BS Opinion: Fiscal correction, India's FTA ambitions in perspective

Here is the best of BS Opinion pieces on Tuesday

BS Views of the week: Consumer sentiment remains subdued; two builders Modi and Nehru

Why is the recovery in consumer sentiments sluggish? What are the reasons behind India’s never-ending love for cash? And what does RBI’s new framework for shadow banking mean for non-banking financial companies? Subscribe to Business Standard, and read this week’s top opinion pieces to find out.

Fiscal correction

Govt should not delay the consolidation process

Meeting FY22 fiscal deficit target hinges on disinvestment proceeds

Savings in some departments may come to govt's aid

Budget 2022-23: Centre may not target sharp fiscal correction

Budget-makers are confident that the net tax collection's Budget target (direct plus indirect) of Rs 15.45 trillion will be exceeded

Governance to groundwork for digital biz, the year that was 2021 for RBI

2021 will go down as the year in which the central bank undertook long overdue governance initiatives even as it laid the groundwork for the fast-growing digital business

On the cusp of an orbital jump

Estimates indicate that by 2025 about 130 zettabytes of data in the world will be unstructured.