Page 61 - Indian Economy

Discounts by OEMs, EMPS deadline rev up electric vehicle sales in July

Sales in July highlight a positive outlook for the remainder of the year, reflecting a growing consumer interest and the impact of strategic market incentives, sector experts said

Expanding GST: Focus on land and real estate

It will give an impetus to factor market reforms, which are essential to drive India's growth

Myth or fact: Panellists debate if India's tax base is too narrow

Bhalla, who was India's executive director at the International Monetary Fund, argued that the belief that only 1-2 per cent of the population pays taxes is unfounded

After FY26, fiscal deficit target will be a range: Finance Secy Somanathan

Path towards a reduction in the debt-GDP ratio will be announced later

'Nothing has structurally changed on either food or fertiliser subsidy'

Somanathan responded to a range of queries arising from the Budget and explained the government's thinking, on employment schemes, capital gains indexation and fiscal roadmap and many more

At 4%, India's core sector growth slowest in 20 months: Govt data

Slowdown reflects a high base and reduced electricity demand, down from 6.4% in May and 8.4% last year

Goyal shows hope, says right steps would make India $55 trn economy by 2047

Commerce and Industry Minister Piyush Goyal on Wednesday expressed hope that steps such as focus on self-sufficiency, technology, stronger currency and fundamentals would help India become a USD 55-trillion economy by 2047. He said that the government is also focusing on areas such as moving from oil to electric vehicles and bringing quality in the manufacturing. He was replying to a question about feasibility to reach USD 55 trillion economy by 2047, which is the theme of K V Subramanian's book Bharat@100: Envisioning Tomorrow's Economic Powerhouse. "All this will collectively help us and a stronger currency...stronger fundamentals of economy from where we are today and hopefully will help us to (reach) USD 55 trillion economy," he said. Goyal added that EV focus, and reduction in imports of goods, oil seeds, rubber and pulses would help further strengthen the domestic currency.

Coal India Q1 FY25 results: Net profit up 4.1% at Rs 10,959 crore

5 of Coal India's 7 subsidiaries met production targets in Q1, but none met offtake goals

April-June fiscal deficit at Rs 1.36 trillion, 8.1% of 2024-25 target

Total government expenditure during the period was Rs 9.7 trillion, or about 20.4 per cent of the annual goal, lower than the Rs 10.51 trillion in the same period last year

India's 2047 economic goal offers Airtel big opportunities: Sunil Mittal

India's strides towards the ambitious goal of being a USD 35 trillion economy by 2047, will provide Airtel tremendous growth opportunities and new avenues of business, Chairman Sunil Mittal has said. Mittal said 5G will play a critical role in accelerating the vibrant growth of India's digital landscape, as he asserted that Airtel is committed to being at the forefront of this intersection and working with policymakers and multiple stakeholders for achieving this goal. India's push on digitisation has made it an outlier in terms of delivering both public services and goods to the last mile, and observed that the telecom industry's significance as an economic multiplier is only likely to increase. "As India moves towards the ambitious goal of being a USD 35 trillion economy by 2047, your company will have tremendous opportunities for growth and new avenues of business," Mittal said in the company's latest annual report. The Airtel top honcho exuded confidence that the company will .

Draft guidelines may impact banks' existing LCR by upto 300 pps: CRISIL

Last week, RBI proposed to tighten norms related to liquidity coverage ratio by increasing the run-off factor to 5 per cent for retail deposits

India's economy likely to record over 7% growth in FY25, says NCAER

The Indian economy could grow higher than 7 per cent and possibly closer to 7.5 per cent in the current fiscal on the back of normal monsoon and receded electoral uncertainty, economic think tank NCAER has said. In its July 2024 issue of Monthly Economic Review (MER), NCAER said real GDP grew by 8.2 per cent in FY2023-24, driven by stable consumption demand and steadily improving investment demand. "Based on the momentum in the high-frequency indicators, normalised monsoon, a relatively benign global outlook and receded electoral uncertainty, both in India and in the rest of the world, growth will likely turn out to be higher than 7 per cent, and possibly closer to 7.5 per cent," NCAER director general Poonam Gupta said. Gupta said the Union Budget 2024-25 lived up to the expectations of unwavering commitment to fiscal consolidation, prudence, and quality. The Budget has kept the fiscal deficit target at 4.9 per cent of GDP and capital expenditure at 2.4 per cent of GDP during ...

Andhra Pradesh CM Naidu suggests 'P4' model to resolve wealth concentration

The Andhra CM spoke about his government's plans to undertake "a comprehensive skill census" and the need for building marquee Indian brands

India should grow at 7-10% for 20-30 yrs to avoid middle income trap: NITI

PM Modi said emphasis on skill, research, innovation and job based knowledge necessary for making 'Viksit Bharat'

Rupee may bounce back in Aug on weak dollar, US rate cut hopes: BS poll

But some see it hitting 84/$ tracking Asian peers

High PSF provision in Budget 2024 revives buzz about merger with PSS

But PM-AASHA allocation indicates otherwise

BJP CMs' Council meet: PM discusses efforts to make India $5 trn economy

PM Modi, in the two-day meeting of the BJP Chief Ministers' Council that concluded on Sunday, said that the conservation of heritage and building a legacy of development

P2P industry: When will RBI walk the talk?

The regulator has issued show cause notices to a few P2P platforms for certain practices. Let's see how they defend themselves and how the regulator reacts

Need to become a $30 trn economy with $18,000 per capita income: NITI paper

India needs to strive to be a USD 30 trillion economy with a per capita income of USD 18,000 per annum by 2047, the approach paper for vision for Vikshit Bharat in 2047 has said. NITI Aayog in a paper titled 'Vision for Viksit Bharat @ 2047:An Approach Paper' said India needs to avoid the Middle-Income trap and carefully work towards breaking out of it. "As for the economy, to become a developed nation, we need to strive to be a USD 30 trillion economy by 2047 with a per capita income of USD 18,000 per annum. "The GDP would have to grow nine times from today's USD 3.36 trillion and the per capita income would need to rise 8 times from today's USD 2,392 per annum," it said. The paper also noted that progressing from a middle-income to a high-income level requires sustained growth in the range of 7-10 per cent for 20-30 years and very few countries have managed to do this. Defining the concept of Vikshit Bharat, the paper said it is a Bharat which will have all the attributes of a ..

PM Modi urges states to attract FDI, suggests 'investor-friendly charter'

Investor friendly charter, zero poverty and demographic management plans highlights of NITI Aayog meet