Page 66 - Indian Economy

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

RBI revises framework for currency swap arrangements with Saarc countries

Under the framework, the RBI will enter into bilateral swap agreements with SAARC central banks that wish to utilise the swap facility

FY25 GDP growth may come close to 7.5%: NCAER's Monthly Economic Review

Growth projections have been upgraded by various other agencies as well, with the median projection at 6.9 per cent

Budget 2024: Will recent infrastructure failures attract prompt actions?

Several cases have raised concerns about ongoing roadway projects in India, highlighting frequent delays in their completion

Budget 2024-25 to focus on infra expansion, fiscal consolidation: EY India

EY India said India's economy has shown 'resilience' with GDP expanding by 8.2 per cent in 2023-24 after 9.7 per cent and 7 per cent in the previous two years

Budget 2024: FinMin may revise nominal GDP growth target upwards for FY25

In FY20, the final Budget revised the nominal GDP growth target to 12 per cent from 11.5 per cent assumed in the interim Budget

BS Poll: Majority sees neutral interest rate between 1% to less than 2%

A debate on real interest rate has picked up steam as the repo rate has been kept unchanged at 6.5 per cent since February 2023 despite inflation prints showing a downward trend

MSMEs: The nuances beyond financial parameters

With the new government, the hope for a new gambit for MSMEs is a pressing priority at the moment, and any move is welcome in the wake of World MSME Day to be celebrated on June 27

India's economic inequality to persist despite roaring GDP growth: Poll

Inequality is not something that will go away on its own ... it needs proactive government interventions

Budget 2024: SBI Chairman Khara pitches for tax relief on interest earnings

Budget 2024: The general Budget of financial year 2024-25 is expected to be tabled in the second half of July, for which the Centre is currently holding talks with various stakeholders

Dip in e-commerce festival sales adds more woes to China's economic crunch

Sales in 618 had grown even during the pandemic, according to Syntun, and peaked in 2023 at nearly 800 billion yuan

Three-wheeler exports may continue to skid in FY25 over subdued demand

As such three wheeler exports have been declining. According to SIAM data, in FY23, exports fell by 26 per cent, followed by a 17 percent fall in FY24