Page 214 - Indian Economy

India exports likely to fly high in New Year on global demand recovery

After staging a strong recovery from COVID-induced slowdown in 2021, India's exports are likely to extend the growth story to the New Year also on increased demand in the global markets

4 labour codes likely to be implemented by FY23 as states ready draft rules

The four labour codes on wages, social security, industrial relations and occupation safety, health and working conditions are likely to be implemented by the next fiscal year

Net direct tax collection jumps 60.8% to Rs 9.5 trillion in FY22 so far

Improvement in mop-up bodes well for achieving govt's fiscal deficit target at 6.8% of FY22 GDP

Modernisers and revivalists: How Mr Modi compares with Nehru

Both Mr Modi and Nehru have been modernisers, but their records of projects have similarities and contrasts, writes T N Ninan

Motilal Oswal cuts FY23 growth forecast to 6.3% amid growth 'uncertainty'

The estimate is lower than the market consensus of 7.6 per cent, and the RBI's more optimistic 8-8.5 per cent, Motilal Oswal said

India to become fastest-growing economy in FY22: Amit Shah at Ficci event

Union Minister of Home Affairs and Cooperation Amit Shah said on Friday that India is likely to become the fastest growing economy in the world in the current financial year."We are reaching the pre-COVID levels. July to September GDP number has been at 8.4 per cent and I think in the year 2021-22, India is likely to become the fastest growing economy in the world. I will not be surprised if we touch double-digit growth," Shah said while addressing FICCI's Annual Convention & 94th Annual General Meeting.Shah said out of the 22 parameters of the economy, India has exceeded in 19 parameters, and this shows that the country has come out strong from the crisis. "Both manufacturing and service sector index has reached the pre-COVID levels. With the announcements of various packages and relief, our inflation is within the targeted range of 4-6 per cent as set by the government," he added.Highlighting the potential of the MSME sector, Shah said that till the time "we encourage and ...

Bloomberg poll raises India's GDP growth forecast amid fewer Covid curbs

Gross domestic product will likely expand 9.4% this fiscal, according to the median estimates of the latest survey.

Rupee gains, bond yields stable after US Fed keeps policy rates unchanged

The rupee closed at 76.09 a dollar, up from its previous close of 76.23 a dollar

Artificial Intelligence shaping India's economy, says Jitendra Singh

Union minister Jitendra Singh said on Thursday artificial intelligence is shaping India's present and future economy and the country has started seeing its impact across sectors

9% MSMEs closed down due to Covid as of August 2020, says govt

An online survey of 5,774 MSMEs was carried out

Diagnostic industry may log 55% revenue growth in FY22, says report

The report by Icra Ratings also expects the prices of diagnostic tests to stabilise at current levels due to focus on volume growth and higher competitive intensity from unorganized players

Best of BS Opinion: Love for cash, India's social policies, and more

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

Indian economy recovering well, but Omicron poses a risk: RBI bulletin

RBI's recent surveys show for the year ahead, consumers are buoyed by sentiments on income and employment

India's exports rose 44% to $16.46 billion during Dec 1-14: Govt data

Imports too grew 42.57 per cent to $27.53 billion during the period under review, the data showed

High frequency indicators look upbeat, RBI officials on state of economy

A host of incoming high frequency indicators are looking upbeat and consumer confidence is returning gradually, an article on the state of economy written by RBI officials has observed. The article published in the RBI Bulletin also stated the global economy remains hostage to heightened uncertainty, with Omicron sparking fresh containment measures. The Indian economy bounced back strongly in the second quarter of 2021-22, with GDP surpassing its pre-pandemic levels, and inflation broadly aligning with the target. "The Indian economy continues to forge ahead, emerging out of shackles of pandemic," stated the article authored by RBI officials. It further observed the ongoing revival is driven by a confluence of factors -- release of pent-up demand, government's push for capital expenditure, robust external demand and normal monsoon. Faster resumption of contact-intensive services and speedy restoration of consumer confidence brightens near-term prospects, it said. The RBI clarifi

India's GDP to grow 8.2% in FY23, RBI to hike rates by 100 bps: BofA

The low vaccination rates and the emergence of the Omicron variant were flagged as factors by the brokerage that are creating 'considerable uncertainty' for India's growth

ADB scales down India growth estimate further to 9.7% in FY22

ADB has scaled down India's growth estimate for the fiscal year ending March 2022 due to supply chain issue of industries

Top headlines: Govt says farm reforms will continue, fraud apps gain users

The Centre's push to phase out kerosene is a work in progress, a decade after the move towards rationalising the allocation of the fuel to states. Read more in today's top headlines

India's retail inflation rises to three-month high of 4.9% in November

Remains within RBI's target range for fifth month

Low interest rate: Incentive and subsidy

Some of the benefit due to a low interest rate policy is not an incentive; it is a subsidy