Page 65 - Indian Economy

RBI maintains status quo, raises FY25 GDP growth forecast to 7.2%

Economists see shallow rate cut in Oct-Dec quarter

Must invest adequately in IT systems: RBI Governor Shaktikanta Das to banks

Underscores urgency to keep up with growth of digital payments

Monetary policy review: RBI resolutely on hold amid comfort over growth

India's GDP growth to remain strong, two members of the MPC see the need for monetary policy easing, likely to support growth. How does one reconcile the two?

RBI monetary policy: FY25 growth forecast revised to 7.2%, up from 7%

Monetary Policy Committee keeps repo rate unchanged at 6.50% for an eighth straight policy meeting

RBI monetary policy: When and where to watch the governor's announcement?

RBI Monetary Policy Committee meeting LIVE updates: Economists expect the central bank to maintain the repo rate at 6.5 per cent for the eighth consecutive time

Shifting sands: How India's fuel pricing policy evolved over the years

India's progress with decontrol of fuel prices derailed in May 2022-after 12 years, three governments and two reform-driven Prime Ministers-when petrol and diesel rates surged

Rail coal freight volume rises 9.3% on summer demand pull: Govt data

All other commodities flat or lower as rail freight grows 3.9% in May

ARAI to invest Rs 500 cr over next 4-5 yrs to enhance H2ICE testing infra

The agency already has testing capabilities for ethanol 20 fuel-compliant vehicles

Tight election will increase prospect of productive reforms: CEA Nageswaran

Voters returned Prime Minister Narendra Modi for a third term but with a reduced margin that has left his Hindu nationalist party needing coalition partners to govern

India deserves faster, ecologically sustainable economic growth: Ramesh

India deserves faster economic growth that is socially just and ecologically sustainable, former environment minister and senior Congress leader Jairam Ramesh said on Wednesday. On World Environment Day, Ramesh called for enforcement of laws and regulations, without fear or favour and strengthening of institutions. In a post on X, Ramesh said, "June 5th is celebrated as World Environment Day to mark the opening of the first-ever UN Conference on the Human Environment in Stockholm in 1972." It was in this assembly that Indira Gandhi had made her historic speech on June 14, he said. "India deserves faster economic growth that is, at the same time, socially just and ecologically sustainable. This is not an impossible trinity. It is both doable and essential," Ramesh said. "It demands enforcement of laws and regulations, without fear or favour, strengthening of institutions, and a deep understanding of and actions based on a fundamental truth that our ancient heritage teaches us," he

Election results: India's economic fundamentals remain robust, says Nomura

India's economic fundamentals remain robust, investment bank Nomura said on Wednesday after the results of the country's general elections paved the way for Prime Minister Narendra Modi's third consecutive term in office. Modi is poised to form the government for a third consecutive term with the BJP-led National Democratic Alliance (NDA) getting a majority in the Lok Sabha, notwithstanding crushing losses in three Hindi heartland states after a bitterly fought election that was projected as a referendum on his popularity. The Election Commission of India has declared results for all 543 Lok Sabha constituencies, with the BJP winning 240 seats and the Congress 99. "Our assessment is that India's economic fundamentals remain robust. Reforms in India have generally survived the test of politics and we expect the government to continue the pace of governance and administrative reforms, leaving states to work around the more intractable reforms around land and labour," Nomura said. Whi

Governance challenges for a coalition

If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense

'Modi retaining power under changed conditions to make reforms challenging'

Prime Minister Narendra Modi retaining power in the general elections under "changed circumstances" will make the implementation of critical reforms challenging, economists said on Tuesday. Economists said the results, wherein trends and leads showed the incumbent National Democratic Alliance (NDA) being set to win around 295 seats but Modi's BJP falling short of the halfway mark of 272 by itself, are a "negative surprise". "It is likely that Narendra Modi will return as PM for a third term. However, he will have to contend with changed circumstances," a note from the domestic brokerage Emkay said, adding that the broad direction of the economic policy is unlikely to change. Seeming to concur on the same, analysts at Swiss brokerage UBS said it expects the government to push supply-side reforms, including manufacturing, simplification of regulatory processes, labour law implementation, skill development and creating employment opportunities. "However, we think implementation of ...

Heatwave drags manufacturing growth to three-month low in May: PMI data

But the sector remains in expansionary territory in May. Manufacturing employment rose to one of the greatest extents seen since data collection started in March 2005

Cargo traffic across major ports rises over 3% to 72.04 mn tonnes in May

Cargo traffic across 12 major ports in the country increased by 3.75 per cent year-on-year in May to 72.04 million tones (MT) from 69.43 MT handled in the corresponding month of 2023 with nine such ports showing positive growth. Visakhapatnam Port registered the maximum cargo growth in cargo handling at 22.05 per cent during the reporting month followed by Chennai Port with 9.10 per cent, Cochin Port with 7.78 per cent and Mumbai Port with 5.89 per cent, according to data released by the major ports' apex body, Indian Ports Association (IPA). The 12 major ports are Deendayal (Kandla), Mumbai, Mormugao, New Mangalore, Cochin, Chennai, Ennore (Kamarajar), Tuticorin (V O Chidambaranar), Visakhapatnam, Paradip and Kolkata (including Haldia) and Jawaharlal Nehru Port. According to the IPA, VO Chidambaranar Port saw a 5.59 per cent increase in its cargo handling during the previous month while Paradip Port 4.27 per cent, Deendayal Port with 3.49 per cent, New Mangalore Port with 1.87 per

Considerable uncertainty persists in US economic outlook: Candace Browning

Browning elaborates on the implications of US growth for financial markets

CBIC steps up its vigil over imports of unbranded gold jewellery

Amid spurt in seizures of gold jewellery; monitor gold shipments under free trade pact

Building blocks

Next govt must build on macro strengths

As order book grows, capital goods, engineering cos firm up capex plans

Nine of the large engineering and capital goods companies combined have a capex of roughly Rs 11,500 crore or more under way

GST collection soars 10% to Rs 1.73 trn in May, FY25 mopup at Rs 3.83 trn

Trend indicates tax collection to remain above Rs 1.7 trillion during the fiscal year