Page 80 - Indian Economy

Prospects bright for capital formation, upturn in pvt capital expenditure

The government also expects inflation to further reduce due to measures announced to rein in food prices

Govt debt to GDP may fall in contrast to global trend: RBI report

Dismisses IMF's contention of ratio exceeding 100%

RBI net bought $2.07 billion in spot foreign exchange market in December

The RBI said it purchased $31.73 billion and sold $29.66 billion in the spot market. In November, it had sold a net $1.93 billion

16th Finance Commission: Centre to replace Rajadhyaksha as member

Niranjan Rajadhyaksha was appointed as a member to the 16th Finance Commission on January 1, 2024

Petty dispute relief scheme: Govt to waive interest, fee, penalty, too

The withdrawal does not entitle taxpayers to take credit or refund

Artha Global's Rajadhyaksha expresses inability to join Finance Commission

Artha Global Executive Director Niranjan Rajadhyaksha has expressed his inability to join as a member of the 16th Finance Commission due to personal reasons, the Finance Ministry said on Monday. The government had on January 31, appointed four members of the 16th Finance Commission chaired by Arvind Panagariya. Apart from Rajadhyaksha, former expenditure secretary Ajay Narayan Jha and retired bureaucrat Annie George Mathew were appointed as full-time members of the commission. SBI Group Chief Economic Advisor Soumya Kanti Ghosh was named a part-time member. "Dr. Rajadhyaksha has expressed his inability to take up this responsibility due to unforeseen personal circumstances. Action will be taken to appoint a Member of the 16th Commission in lieu of Dr. Rajadhyaksha," a ministry statement said. Officials said Rajadhyaksha did not attend the first meeting of the 16th Finance Commission which was held on February 14. The government constituted the 16th Finance Commission under the ...

Fourth round of talks: 'Won't settle for anything less,' say farmers

Urge govt to bring Ordinance on legal guarantee for MSP

MSME apparel makers may face losses up to Rs 7,000 crore in Q4: CMAI

Says retailers dropping order because of amendment to I-T Act on payment to MSMEs

Finding the right policy for edible oil

The strategy mooted by the finance minister to attain atmanirbharta in edible oilseeds like mustard, groundnut, sesame, soybean, and sunflower involves research on high-yielding crop varieties

Valuations elevated, but earnings growth provides comfort: Anish Tawakley

Tawakley expresses confidence in domestic cyclicals driving future performance

India needs to grow at 9-10% for 3 decades to be $35 trn economy: Kant

India needs to grow at an annual rate of 9-10 per cent for around three decades and constant innovations to become a USD 35 trillion economy by 2047, India's G-20 Sherpa and former NITI Aayog CEO Amitabh Kant said on Sunday. "We are the fifth largest economy in the world and by 2027 we will surpass Japan and Germany to become the third largest economy in the world. And our aim is that by the time we turn 100 in 2047, India should be a USD 35 trillion economy," Kant said while addressing a session at Mumbai Tech Week (MTW) hosted by Tech Entrepreneurs Association Mumbai (TEAM). Which means, India will become the second largest economy in the world, Kant stated. "And to be a USD 35 trillion economy means that we need to grow year after year for close to three decades by 9-10 per cent annually and this means that we need to do a lot of disruptions and constant innovation," he noted. Kant said that India created the digital identity of 1.4 billion people and technologically the country

Meghalaya needs to sustain 11.5% GSDP growth to become $10 bn economy: CM

Meghalaya Chief Minister Conrad K Sangma on Saturday asserted that the state needs to sustain 11.5 per cent annual GSDP growth to achieve the ambitious target of becoming a USD 10 billion economy by 2028. Addressing a gathering after laying the foundation of a Rs 100 cr bulk water supply project at Ballonggre in West Garo Hill district, Sangma said that the state is at present a Rs 45,000 crore economy and that needs to be improved. "It is a herculean task but the state government has charted out a roadmap to achieve the target," he said. The CM asserted that his government has a vision for the state and investments are being made to build better and sustainable infrastructure, create jobs through entrepreneurship and adopt innovative policies and programmes to increase farmers' income. He said a thrust has been laid on improving rural economy by focusing on enterprises that will leverage the potential of the rich natural resources of the state. He asserted that Meghalaya has won

Cabinet nod for Rs 76K-crore Vadhavan Port soon: Sarbananda Sonowal

The estimate of Rs 76,220 crore is Rs 11,000 crore more than the previously approved amount by the cabinet. The project had been stuck in environmental regulations for the past two years

Outward FDI rises 25.7% to $2.1 billion in January, shows RBI data

Outbound FDI, expressed as a financial commitment, comprises three components - equity, loans, and guarantees

Rating agencies need to review their framework, says CEA Nageswaran

Says global financial institutions tend to accentuate spillovers for developing economies

Time for all Indians to subscribe to 'economic nationalism: VP Dhankar

Vice President Jagdeep Dhankhar on Friday called upon Indian enterprises to desist from importing non-essential items and exporting raw material and become "nerve centres" of inculcating the spirit of economic nationalism, asserting that it was imperative for India's prosperity and sovereignty. Speaking at an event here, he said, "we need to import only that item which is unavoidably essential", and drew India Inc's attention to the ill effects of export of raw material in terms of drain of foreign exchange and loss of potential job opportunities. "Nationalism is important, paramount. We have to subscribe to it. Time for us to subscribe to economic nationalism as well. We need to be vocal for local," Dhankhar said. The vice president emphasised that a fiscal benefit can never be the premise to compromise national interest or economic nationalism, observing that export of raw material needs to be "discouraged" and the discouragement has to emanate from sensitisation by trade, industr

Exports brave ongoing Red Sea crisis to post 3.2% growth in January

Trade deficit inched up to $17.49 billion

Manufacture or service: Must we choose?

This debate is futile in India's development journey

Credit growth in India expected to moderate to 14% in FY25: S&P Global

Credit growth in India is expected to moderate to 14 per cent in FY25 from the existing 16 per cent as deposit growth is unable to keep pace with loans, a global rating agency said in a report. "Deposit tightness will remain a system overhang. Our base case is for loan growth to slightly moderate, leading to manageable competition for deposits. Indian banks will have to strike a fine balance between maintaining strong loan growth and paying more for deposits to fund that growth," S&P Global Ratings said. If the clash for deposits gets fiercer, Indian banks will take a hit, either with slimmer margins or slower growth, it said. "Credit demand is strong. The economic backdrop is highly conducive to growth. Asset quality is improving, buoyed by a confluence of supportive structural and cyclical factors. All that India's banks are missing is a boom in deposits," it said. As per the report, system-level credit growth to moderate to 14 per cent in 2024-25 from about 16 per cent ...

Services trade surplus hits record $44.9 billion in December quarter

Grew 16% over a year earlier; current account deficit likely to reduce