Page 62 - Indian Economy

Data dynamics

The advisory committee has its task cut out

Budget 2024 wish list: RBI to hear demands of MSMEs on Monday

Central bank wants to understand initiatives that may be viable for the sector

RBI bumper payout to curb major divestments, govt keeps Rs 50k cr target

The record Rs 2.1 lakh crore dividend payout by the Reserve Bank of India will limit the need for big-ticket divestment, a domestic rating agency said on Thursday. Care Ratings said the new government will retain the interim budget's Rs 50,000 crore target on receipts from divestments. "With a bumper dividend from the RBI, the central government's fiscal position remains comfortable, which may limit the urgency to push ahead with big-ticket divestments," it said. If there is a shortfall in the resource accretion, the government will prefer asset monetisation, it added. Shipping Corporation of India (SCI) sales expected to be completed during the year will make it easy sailing for the government on the FY25 target, the agency said. "After the demerger of land assets of the Shipping Corporation of India (SCI), its possible divestment looks likely in FY25, provided favourable market conditions prevail. If the government offloads its entire stake in SCI, it could generate Rs 12,500-22

Tata Hitachi's success harvest from field to factory in West Bengal

Ratan Tata, then Tata Group chairman, had flown in along with the brass to make the announcement. The Nano found its home at Singur in the Hooghly district

Renewables financier Ireda's high valuation may limit further stock upside

Ireda, which provides funding assistance and other services to renewable energy and energy efficiency/conservation projects and is 75 per cent owned by the government of India

India initiates anti-dumping probe into import of Chinese lift guide rails

India has initiated an anti-dumping probe into the import of Chinese lift guide rails following a complaint by a domestic player. The duty is aimed at protecting the domestic industry from cheap imports. The commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) is probing the alleged dumping of 'T-Shaped Elevator/Lift Guide Rails and Counterweight Guide Rails' from China. Savera India Riding Systems Company has filed an application for the initiation of an anti-dumping investigation on the imports of this product from China. The applicant has alleged that material injury is being caused to the domestic industry due to the alleged dumped imports and has requested for the imposition of anti-dumping duties. "On the basis of the duly substantiated written application submitted by the domestic industry and having reached satisfaction based on the prima facie evidence submitted by the industry concerning the dumping of the product...the Authority, hereby, ..

India pitches for strengthening quality standards for spices at global meet

India has supported strengthening quality standards for various spices, including small cardamom, vanilla and turmeric, at a global meet of the Codex Alimentarius Commission being held in Rome, the government said on Wednesday. According to an official statement, India, as a member elected on a geographic basis (Asia), is participating in the 86th session of the Executive Committee (CCEXEC) of the Codex Alimentarius Commission (CAC). G Kamala Vardhana Rao, CEO of the Food Safety and Standards Authority of India (FSSAI), represented India in the session being held at the Food and Agriculture Organization (FAO) headquarters in Rome from July 1-5. The CAC, an international body established by FAO and the World Health Organization (WHO), aims to protect consumer health and promote fair practices in food trade. The executive committee plays a critical role in reviewing proposals for new work and monitoring the progress of standards development. "During the session, India strongly suppor

GST revenues: The fate of the compensation cess amid Centre-state row

There's no reason for the cess to be retained in its current form. That's because the cess rates themselves are monstrously complicated, varying not only in magnitude but also according to end-use

GST's revenue performance: Centre's sacrifice for cooperative federalism

Over the past few years, most commentators have rightly emphasised the tensions in Centre-state fiscal relations, pointing especially to the Centre's repeated recourse to non-sharable cesses

New base years for national accounts, macro indicators from Jan-Feb 2026

A base year is the reference year whose prices are used to calculate the real growth (minus inflation) in national income

India takes first steps to meet 2070 net-zero goal, Niti Aayog forms panels

Six working groups created to identify issues, develop pathways, and suggest policy action on various aspects of climate change

Centre to issue mineral exploration rights, takes the task away from states

Delays in state approval of NPEA exploration projects and funding disbursement through state channels prompted the introduction of the new scheme

India to overtake Japan to become 3rd largest global market: Sony MD

Japanese consumer electronics giant Sony expects India to overtake home market and become the company's third largest market globally in the next couple of years with its revenue from the country reaching Rs 10,000 crore. Sony India Managing Director Sunil Nayyar said the company clocked a revenue of Rs 6,353 crore in 2022-23 in the country and is betting on the premium television segment besides its audio and imaging products to drive the growth. According to him, Sony India is also betting big on the fast growth of the gaming segment and imaging business. "We have travelled a long way. If I go 10 years back, we were quite behind the globe, but now, we are a close number four as a single country business across the globe, which means in a couple of years, maybe we can be number three and to remain in the top three in future I think should be a good position to stay as a Sony company around the globe," Nayyar told PTI in an interview. At present, the US, China and Japan are the top

How successful GST has been after seven years since being implemented?

GST revenue peaked at a record high of Rs 20.2 trillion in 2023-24

Economy poised for potentially stable high growth phase: RBI's MPC member

Indian economy is poised for potentially a stable high growth phase and it is also in a strong position in the context of significant risks that the country is facing, RBI's monetary policy committee member Shashanka Bhide said on Sunday. Bhide further said with the growth of income that would support domestic demand and additions to production or supply capacity reflected by high levels of investment spending in the last couple of years, domestic economic activity is expected to sustain its momentum. "In terms of growth momentum and inflation trajectories Indian economy is poised for potentially a stable high growth phase. "It is also in a strong position in the context of significant risks that are also facing us," he told PTI. The current official estimate of GDP growth in 2023-24 is 8.2 per cent, accelerating from 7 per cent in the preceding year. Earlier this month, the Reserve Bank of India pegged the GDP growth rate for FY25 at 7.2 per cent. Bhide noted that the monsoon ..

Govt's gross liabilities up 3.4% at Rs 172 trn by March: Finance ministry

Total gross liabilities of the government increased to Rs 171.78 lakh crore at the end of March 2024 from Rs 166.14 lakh crore at December-end, the finance ministry has said. This represented a quarter-on-quarter increase of 3.4 per cent in the fourth quarter of 2023-24, said the public debt management quarterly report (January-March, 2024). Public debt accounted for 90.2 per cent of total gross liabilities during the quarter, it said. "During the quarter, the yield on Indian domestic bond softened on account of lower than anticipated borrowing plan announced in interim budget, adjustment of the fiscal deficit to 5.1 per cent of the GDP for FY25, a targeted reduction of the fiscal deficit at or below 4.5 per cent by FY26, FPI inflows and steady inflation," it said. On the other hand, it said, US treasury yields remained volatile during the quarter mostly affected by Federal Reserve action, inflation, and employment data. US 10-year yields touched a high of 4.33 per cent during the

RBI scrutinises NBFC key management payouts under new compensation policy

A key feature of the exercise will be adherence to norms on the proportion of variable pay in total compensation

Railway faces supply disruption of forged wheels amid Red Sea crisis

National transporter is facing shipment delays of forged wheel imports

NFRA second inspection of Big five firms shows signs of improvement

One of the more serious issues raised by the NFRA in its report is about violation of Section 144 of the Companies Act, which prohibits firms from providing certain non-audit services to audit clients

A new agenda for great power status

India needs to recalibrate its economic approach, focusing on trade, manufacturing, and the informal economy