Page 85 - Indian Economy

Home truths: Luxury real estate looks set to retain its sheen this year

Stamp duty cuts, reduced circle rates, changing demographics propel high-end homes to new heights

Ram Temple witness to India's rise, to lay foundation for 1000 yrs: PM Modi

PM Modi underlined the importance of the current epoch and reiterated his line 'Yahi Samay Hai Sahi Samay Hai' (This is the time, the right time)

Tax buoyancy may give headroom for higher social sector budget: Report

The increased tax buoyancy as reflected in both income tax and GST monthly collection data will provide headroom to the government to allocate more funds for farmers and social sector schemes in the forthcoming interim budget, without sacrificing fiscal prudence, sources said. The focus in the interim budget, which will be the last major economic document of the Modi 2.0 Government ahead of the general elections, is likely to be on the issues being faced by poorer sections of the society, especially in rural areas. According to sources, collections from income and corporate taxes have been showing buoyancy in the current fiscal, and the total direct tax mop-up is likely to exceed budget estimates by about Rs 1 lakh crore. The government had budgeted to collect Rs 18.23 lakh crore from direct taxes in this fiscal. Till January 10, the mop-up stood at Rs 14.70 lakh crore, which is 81 per cent of budget estimates. On the Goods and Services Tax (GST) front, Central GST revenues are ...

Red Sea impact: Who would a price rise hurt the most?

The Indian economy will not remain untouched by the effect of Houthi attacks. Indian exports and imports will be adversely affected if the Red Sea route cannot be used

With online monitoring system going live, PC imports turn a trickle in Nov

Inbound shipments drop on monthly and yearly bases

Inflation needs to align with target by 2nd quarter: RBI monthly bulletin

It says headline inflation must align with 4% target by second quarter

India is emerging global leader in GCC, says RBI monthly bulletin

GCCs are offshore units of multinational corporations that operate across the globe

Food inflation can potentially impact headline: RBI monthly bulletin

Widely regarded as transient, these shocks appear to have imparted volatility and persistence to food inflation which averaged 6.7 per cent during April 2022 to November 2023, it said

India must sustain growth momentum, secure at least 7% growth in FY25: RBI

"In India, potential output is picking up with actual output running above it, although the gap is moderate," the RBI said in an article titled 'State of the Economy'

GDP growth will moderate to below 6% in December quarter: ICRA projection

Rating agency ICRA has projected the GDP growth rate to slow down to below 6 per cent in the December quarter, mainly account of sharp fall in kharif crop output, and weak progress in rabi sowing for some crops. india had registered a Gross Domestic Product (GDP) growth rate of 7.6 per cent in the July to September period. The rating agency said the year-on-year growth in ICRA Business Activity Monitor eased for the second consecutive month to a six-month low of 8.1 per cent in December 2023 -- as against 7.9 per cent in December 2022 and 9.6 per cent in November 2023. "This can be attributed to a combination of factors, including easing in momentum of activity after the end of the festive period, tapering of demand for electricity and petrol with the onset of the winter season in North India, as well as unfavourable base effects for some indicators," it said. Despite a moderation in year-on-year growth, the index witnessed a sequential uptick of 1.4 per cent in December 2023, driv

FY24 per capita income growth may be lowest in 21 years barring FY20, FY21

This was despite the real gross domestic product (GDP) being projected to grow by 7.3 per cent in the current financial year by the first advance estimates

Budget 2024 expectations: What stance will interim Budget 2024 adopt?

Nirmala Sitharaman's recent statement that the February 1 Budget would just be a vote on account could mean that she will uphold the convention surrounding an interim Budget

Davos 2024: Is India's economic growth showing Chinese characteristics?

The talk in Mumbai's financial circles is about a cheery prediction by Goldman Sachs Group Inc. that by 2027 100 million Indians will enjoy incomes of at least $10,000 a year, five times the national

Overall imports down 4% but shipments from Russia, China up: Govt data

Overall exports, meanwhile, increased 0.9 per cent, according to the data compiled by the commerce department

India can become $5 trn economy much before 2028: Hardeep Singh Puri

Union minister Hardeep Singh Puri on Tuesday asserted that India can become a five trillion dollar economy much before 2028 and said the country's energy transition needs to be done in an orderly manner to safeguard the interests of its large population. Puri, the minister for petroleum and natural gas as well as housing and urban affairs, said India is aware of its commitments towards sustainability goals and will meet all the targets in time while meeting the requirements of a growing economy. He was speaking at a CII-EY breakfast session on 'accelerating India's energy transition towards sustainable economic growth' on the sidelines of the World Economic Forum Annual Meeting 2024. "I don't think we need to wait till 2028 to become a five trillion dollar economy, and if you look at what is happening, it should happen much before 2028," he said while listing various macroeconomic parameters. "I also think that the transition has to be orderly because transition by nature has to ha

86% Indian CEOs optimistic about country's economic growth: PwC survey

44% of global business leaders expressed a similar opinion about the economy in their countries or territories

China showcases plan for massive 'silver economy' to serve elderly

Beijing wants to mobilize state and the private sector companies, it said in an outline released by the State Council

Rates to stay higher, battle against inflation not yet over: IMF's Gopinath

Affirming that the fight against price rise is not yet over, IMF's Gita Gopinath on Tuesday said interest rates are likely to stay higher than during the period immediately after the global financial crisis. There are expectations though that it will come down sometime this year, the International Monetary Fund's First Deputy Managing Director said. Speaking at a session during the World Economic Forum Annual Meeting 2024 here, Gopinath dismissed the market bets for a cut in interest rates as premature. "The markets are expecting central banks to cut rates pretty aggressively. I think that's a bit premature to make that conclusion. "We should expect rates to come down some time this year but based on the data we see right now, we expect this to be more likely in the second half of this year," she said. She also felt that chances of a deep recession were less likely.

Fitch affirms India's long-term FX rating at 'BBB-' with stable outlook

'India is poised to remain one of the fastest-growing countries globally in the next few years as the robust economic momentum is proving resilient,' the ratings agency said

Growth-rate gap clouds India's biggest states' $1 trn dream, shows data

Maharashtra is the closest to reaching the $500 billion mark. It would have to add nearly $600 billion in the next seven years to reach the $1 trillion mark