Page 84 - Indian Economy

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

16th Finance Commission: Chairman Panagariya discusses ToR in first meet

The Finance Commission is a constitutionally-mandated body established once every five years to devise a formula for distributing net tax proceeds between the Centre and the states

Yield spread between corporate bond and g-sec narrows in February

Sentiment was also impacted by VRRR auctions by RBI last week to suck out liquidity

Fiscal federalism

Concerns over distribution must not be allowed to fester

January retail inflation eases to 5.1%; December IIP growth at 3.8%

Food and beverage recorded an inflation of 8.3 per cent in January 2024, compared to 8.70 per cent the previous month

Fragile-five days long gone as funds pile Into India, Indonesia: Report

The original 'Fragile Five' which also included Turkey, South Africa and Brazil referred to nations perceived to be most at risk due to their heavy reliance on foreign investment to drive growth

Urea production up 12% in first 9 months of FY24, sales remain flat

Urea demand could re-emerge in a big way for the 2024 kharif season from May and June with the advent of monsoon

Direct tax collections stand at 80% of revised estimates till Feb 10

Growth in both corporation tax and personal income tax was more than the asking rate under RE

Centre can't help if states empty coffers via tall poll promises: Shah

Union Home Minister Amit Shah on Saturday said the central government can't help the states which empty their treasuries after making unrealistic election promises. All states should prepare their budget taking into account development programmes and social welfare commitments, he said at an event here when asked about the allegation of discrimination against some states in the release funds by the Centre. The governments of West Bengal, Kerala and Karnataka recently held protests in the national capital alleging that they were not given their due share of funds, a charge refuted by the finance minister. Shah said in the white paper, tabled in Lok Sabha, Finance Minister Nirmala Sitharaman has given details about the funds given to the states. "The white paper has details of how much funds we have given to the states, how much more funds we have given than what Congress used to give to every state - be it BJP or opposition ruled," he said at the ET NOW Global Business Summit 2024.

I could have laid white paper on UPA's ten yr rule in 2014: PM Modi

PM Modi said that he avoided bringing it in 2014 fearing that the country would lose its confidence

On the cards: Automated reconciliation system to plug I-T mismatches

No documents needed; dept won't send notice

Technical norms for road planners get stricter, to get higher priority

Bidders will have to disclose deficiencies in the past

Readying a detailed road map for third term, says PM Narendra Modi

He said he's preparing a detailed roadmap to make India third-largest economy