New investment projects announced in the manufacturing sector declined in the three months ended June 2023. The value of new projects was lower than in the March quarter, as well as the year-ago period, shows data from project tracker the Centre for Monitoring Indian Economy (CMIE). The new project announcements worth around Rs 85,000 crore in the manufacturing segment in June were a 48 per cent decline from the Rs 1.6 trillion in March and a 66 per cent decline from the Rs 2.5 trillion seen in June 2022.
India has incurred the third highest losses globally due to Internet shutdowns in 2023.
The exports in 2022-2023 was $79 billion, compared to imports of $50 billion.
India's prices are rising faster than many of its emerging market peers. The country's inflation print for May at 4.25 per cent is a marked reduction from the levels seen in May 2022 (7.04 per cent). However, even though the inflation rate remains within the Reserve Bank of India's medium-term target of 4 per cent, with a 2 per cent margin on either side, it continues to be higher than China, Russia, and Brazil.
The state with the most people has displaced the state with the largest economy in terms of investor additions. Uttar Pradesh (UP) added 126,000 new investors in April, reveals National Stock Exchange (NSE) disclosures. This is higher than Maharashtra's 118,000. Maharashtra, which is home to India's financial capital of Mumbai, has traditionally been the biggest source of investors.
If you work for 30 years, a two per cent difference in pension returns can reduce your final retirement nest egg by 40 per cent. The Rs 9-trillion National Pension System (NPS) seems to be delivering incrementally higher returns than the twice-as-large Employees' Provident Fund Organisation (EPFO), shows a Business Standard analysis of data over the last seven years for the two retirement fund bodies. An investor who put in Rs 100 in retirement savings seven years ago would have seen her NPS nest egg grow to Rs 182 by 2023, according to the analysis based on the Pension Fund Regulatory and Development Authority's recently released Handbook of National Pension System Statistics 2023.
The decline in LIC's share price makes it the biggest wealth destroyer among IPOs which hit the market after COVID-19 took hold globally in 2020.
Among India's tech companies, education-associated start-ups are the worst affected, recording the maximum number of layoffs.
Extreme weather events and disasters have been on the rise in the region.
The inactivity of Go First may help other airlines in India's competitive market as it had a 7.8 per cent market share.
Taiwan in 1951 came up with an ingenious plan to improve tax compliance: citizens taking receipts for purchases could use them as lottery tickets. Customers were incentivized, and businesses found it hard to evade taxes. The plan's success prompted other countries, Slovakia and Greece among them, to launch similar initiatives. India doesn't seem to find the need yet for such schemes amid surging goods and services tax (GST) collections.
The IMD defines a normal monsoon as one which delivers between 96 and 104 per cent of the 50-year average rainfall for the season.
India stands to lose more working hours to extreme heat than the rest of the world, in addition to the humanitarian cost of extreme heat events.
Nearly a third of an average Indian citizen's consumption budget is spent on food.
'With one more year remaining in the term, and 58 average sitting days a year, the 17th Lok Sabha is unlikely to sit for more than 331 days.' 'This could make it the shortest full-term Lok Sabha since 1952.'
The share of non-resident Indians (NRIs) and overseas investors in Indian mutual funds has been declining over time, despite adding half-a-trillion rupees to holdings over the last five years. Mutual fund holdings for the segment went up from Rs 0.95 trillion as of December 2018 to Rs 1.54 trillion as of December 2022, shows Business Standard analysis of data from the industry body Association of Mutual Funds in India (Amfi). Their share in overall mutual fund assets has fallen from 4.2 per cent to 3.9 per cent during the same period.
If a bank shuts down, every account holder it has will get back their money for a maximum limit of Rs 5 lakh. It was Rs 1 lakh before.
The March 2020 lockdown did not stop the spread of infection (as it triggered a huge reverse migration from cities), but it did help to flatten the curve and gave time to scale up health infrastructure.
According to Rajeev Jayadevan, co-chairman, national Indian Medical Association Covid Task Force, the current scenario qualifies as a wave.
The unemployment rate is higher among urban women as was the case before the pandemic.
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