Page 79 - Indian Economy

Banks' asset quality to improve in next six months as economy grows: Survey

FICCI, Indian Banks' Association survey had 23 respondents represent 77% of industry by asset size

Back to office, everyone

It seemed like yesterday when all IT majors were singing the praises of the #WorkFromHome practice. There were even reports that said many companies were planning on moving to #WFH permanently

Crude oil processing volumes remain steady in Feb at 20.9 MMT: PPAC

Crude imports fell 6.5 percent in February to 18.01 Million Metric Tonnes. says data released by Petroleum Planning and Analysis Cell

Switzerland, UAE, China lead double digit imports growth in February

After growth in merchandise imports remained in negative territory for most of 2023, inbound shipments have turned positive for two consecutive months since January

All that breathes

Air pollution is absent from the political agenda

Centre issues guidelines on solid waste management in aquaculture units

The regulations impose a ban on burning of plastic

India needs to grow at 8% to create sufficient jobs: IMF's KV Subramanian

India needs to grow at 8 per cent on sustained basis to create sufficient jobs to reduce poverty and inequality, India's executive director at International Monetary Fund (IMF) Krishnamurthy Venkata Subramanian said on Wednesday. India's economy grew by better-than-expected 8.4 per cent in the final three months of 2023 - the fastest pace in one-and-half years. "We should be impatient even if we grow at 7 per cent. We should be looking to grow at 8 per cent and above, as the country needs to create a lot of infrastructure," Subramanian said, addressing an event organised by OMI Foundation. "By growing at 8 per cent, we have the potential to create a lot of jobs, thereby reducing poverty and inequality," the former CEA said. The growth rate in October-December was higher than the growth rate of 7.6 per cent in the previous three years, and it helped take the estimate for the current fiscal (April 2023 to March 2024) to 7.6 per cent, according to the data released by the National ...

The other side of India's jobs story

The bigger problem is the nature of employment, rather than unemployment, and the realistic solution could be fostering farm-related enterprises

New-age, standardised courses in skill ministry's first 100-day plan

The new-age courses being planned may prominently feature in the fields of sunrise sectors, such as green technologies, fitness, wellness, hospitality and healthcare

Analysing economic progress of states through budgets & advance estimates

Several states have come out with the Budgets for 2024-25 and hence advance estimates. Let us use them to analyse the economic performance or outlook of some of those states

India bright on global players's radar, optimistic on future: Falguni Nayar

India is beeping on the radar of global players with strong drivers like young, aspiring population, rising income levels, and resilient infrastructure and digital networks, Nykaa founder and CEO Falguni Nayar said on Monday, adding she is extremely "optimistic" and "confident" about the future. In an exclusive interview with PTI, the self-made billionaire also said the recent instances of corporate governance lapses in some well-known startups will lead to greater scrutiny by investors (in the ecosystem), and asserted that governance agenda has to be set out very early in an entrepreneurial journey. Any compromise on governance just because a company is growing or chasing size and scale cannot be justified, she emphasised. Nykaa, she added, has been very strong on governance. Nayar - the top boss at omnichannel beauty and fashion retailer Nykaa - said her entrepreneurial journey - which started at the age of almost 50 - has been "amazing" and advised aspiring entrepreneurs to be .

India unlikely to match China's past 8-10% growth: Morgan Stanley

Even so, Morgan Stanley remains upbeat about India's prospects, and said in a recent report that the current expansion resembles that of the mid-2000s boom, fueled by rising investment

ANZ CEO aims to expand presence in India, China as customer focus shifts

In its home market of Australia, Elliott struck a more hawkish tone than that of the bank's economists on the outlook for interest rates

India will become third top economy in few years, says FM Sitharaman

Union Finance Minister Nirmala Sitharaman on Saturday said India currently needs economic freedom to achieve developed nation status by 2047 and assured that the country would move to the third spot in world economy from the current fifth position in the near future. Criticising those who compared India with China, Sitharaman said that certain things could not be replicated from them. "India should attain self sufficiency on economic matters. It should become an economic power. The country has come from 10th position to 5th in global rankings and a few years down the line we will achieve the third spot", Sitharaman said, after unveiling a bust of Mahatma Gandhi at Shrimati Indira Gandhi College here. Appealing to the students gathered at the venue to contribute to the progress of the nation, she said, "It is through the efforts of students like you that our country will become a developed nation by 2047." Referring to people talking about how China has progressed and comparisons wi

Cong guarantees comprehensive social, economic and caste census: Kharge

Ahead of the Lok Sabha polls, Congress President Mallikarjun Kharge on Saturday promised to pass a constitutional amendment to raise the 50 per cent cap on reservations for SCs, STs and OBCs, and a comprehensive social, economic and caste census. He also assured a comprehensive review of the "anti-worker" labour codes passed by the Narendra Modi government, and to make suitable amendments to strengthen the rights of labour. The promises are part of another five guarantees, each for 'Shramik Nyay' and 'Hissedari Nyay' announced by the party on Saturday. "The Congress Party guarantees a comprehensive social, economic and caste census. Through this, the population, socio-economic condition of all castes and communities, their share in national wealth and their representation in institutions related to governance will be surveyed," Kharge said listing out guarantees under 'Hissedari Nyay'. He said this affirmative action policy will bring revolutionary change in the country. "The ...

Nitin Gadkari announces 4 projects across India worth Rs 1,885 crore

These projects are located in Karnataka, Madhya Pradesh, Gujarat and Assam. The development of an existing ropeway has been proposed between Ujjain Railway Station and Mahakaleshwar Temple in MP

Indian startups may add $1 trillion to Indian economy by FY30: CII report

Between 2024 and 2035, the country may see 300 new unicorns, the report said

'India's economy has parallels to 2000s when growth averaged over 8%'

The economists at Morgan Stanley also said the economy appears to have room for even further expansion, given the path for additional capital expenditure - especially from private businesses

Will allow Kerala to borrow Rs 5,000 cr as exceptional measure: Govt to SC

The Centre told the Supreme Court on Wednesday it is ready to allow the Kerala government to borrow Rs 5,000 crore, subject to certain conditions, to deal with the financial issues facing the state as a "very special and exceptional measure". However, the Kerala government said Rs 5,000 crore "does not take us anywhere" and the absolute minimum requirement stood at Rs 10,000 crore. The Centre's statement came a day after a bench of Justices Surya Kant and K V Viswanathan asked it to consider providing a one-time bailout package to Kerala by March 31 to deal with the resource crunch. The apex court was hearing a suit filed by the Kerala government accusing the Union of India of interfering in the exercise of its "exclusive, autonomous and plenary powers" to regulate the state's finances by imposing a ceiling on borrowing. "However, giving utmost consideration to the suggestion of the court, as a very special and exceptional measure, not to be used or cited as a precedent by any othe

Economy may grow by over 7% for 4th year running in FY25: CEA Nageswaran

Sustaining high growth over long periods rare, country has seen only short bursts of high growth