Page 80 - Indian Economy

Costlier food keeps retail inflation elevated in Feb; Jan IIP growth eases

Madan Sabnavis, chief economist, Bank of Baroda, said inflation in February was purely a food-driven phenomenon, which would continue to pressure prices in the coming months

'Our estimates & those on Tendulkar formula show poverty fall over 12 yrs'

The rate of poverty decline in percentage points was higher in urban areas in the Rangarajan-Dev estimates over this period than in SBI research

Surviving airbenders are trying to get wind energy back to its past glory

Between 2012 and 2016, tax benefits and incentive schemes for wind energy witnessed mercurial changes

Key emerging market economies see rising inflation trend, shows data

China recorded an inflation figure of 0.7 per cent in February, its first increase after experiencing deflation months

CPI-based inflation eases to 5.09% in Feb; Jan IIP growth at 3.8%

Food and beverage recorded an inflation of 8.66 per cent vs 8.3 per cent in January 2024

India could be in upper-middle income category over FY33-FY36: Ind-Ra

The rating agency reported that India would reach to a $15 trillion economy over financial years 2043-2047

Govt ups MSP for raw jute by Rs 285 to Rs 5,335 per quintal for FY25

The government on Thursday approved a Rs 10,037-crore new industrial development scheme, UNNATI, for northeast states. The Union Cabinet in a meeting approved the Uttar Poorva Transformative Industrialization Scheme, 2024, here, an official release said . The central sector scheme has been announced for the development of industries and employment generation in the states of North East Region. The scheme's main objective is to generate gainful employment, which will lead to the area's overall socio-economic development. The scheme will create productive economic activity in the manufacturing and service sectors. Under the scheme, incentives would be provided to investors for setting up new units or undertaking significant expansion of the existing units. The scheme will be effective from the date of notification and up to March 31, 2034, along with eight years of committed liabilities.

Feb consumer price inflation forecast to edge down to 4-month low: Poll

Rises in food prices, which make up almost half of the consumer price index (CPI) basket and experience sharp swings often due to uneven monsoons, have recently outpaced overall inflation

Moody's ups GDP forecast, India to remain fastest growing G20 nation

Moody's Ratings on Thursday raised India's GDP growth forecast for FY24 to around 8 per cent from 6.6 per cent on the back of strong domestic consumption and capital expenditure. The estimate comes a day after RBI Governor Shaktikanta Das said the economic growth in the current financial year could be close to 8 per cent in view of the third quarter GDP data released by the government. The latest estimate of Moody's is about 140 basis points higher than the earlier projection of 6.6 per cent made in November 2023. The National Statistical Office (NSO) has projected 8.4 per cent growth in December quarter of the current financial year. It has also revised GDP estimates for the first and second quarters to 8.2 per cent and 8.1 per cent from 7.8 per cent and 7.6 per cent, respectively. "We expect India to be the fastest-growing economy among major G20 countries, with its real GDP growth to accelerate to around 8 per cent in the fiscal year ending March 2024 (fiscal 2023-24) from 7 per

Fuel consumption increases 5.7% in February on strong factory output

Demand was up about 5.1% on a daily basis from the 4.74 mbpd (20.04 million metric tons) consumed in January

CRISIL raises India's GDP growth forecast to 6.8% from 6.4% for FY25

On the inflation front, Crisil expects softening to continue in the next fiscal on the back of healthier agriculture output that tames food inflation, and benign oil and commodity prices

Indian economy likely to grow close to 8% in FY24, says RBI Governor

RBI governor says 85% Paytm wallet users won't face disruption

FDI inflows shrink by 21% to $41.31 billion in 2023, shows DPIIT data

The sustained contraction in investment inflows comes against the backdrop of uncertainties and challenges in the global economy

PSUs score lowest in compliance, corporate governance: IiAS report

As of December 2023, IiAS reported the strongest Corporate Governance Score performance for BSE100 since assessments commenced in 2016

Annual GDP growth for current FY could be very close to 8%: RBI chief Das

Das said rural demand had been improving and was much stronger than a year ago, while urban demand continued to be very strong

GDP vagaries in election years: There are valid explanations for variations

But, in an election year, questions will be raised whether non-economic factors are at play

Govt notifies FDI norms for space; move may bring in $44 bn by 2033

Industry expects $20 billion investment in the sector in 10 years

India's February services PMI eases to 60.6 on low business confidence

Despite having slipped, the headline index was comfortably above the neutral mark of 50.0 and signalled a sharp rate of expansion that was well above the series history

FM Sitharaman calls for clarity on GST classification-related issues

CBIC gave a presentation that it has detected fake input tax credit claim of Rs 1.14 trillion from the year 2020 till date

Global buzz around high growth rate of Indian economy, says PM Modi

PM inaugurates 800 MW Unit 2 of NTPC's thermal power project in Peddapalli district of Telangana