Deloitte India on Friday said it estimates India's GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows. In its India's economic outlook report, Deloitte said the rapid growth of the middle-income class has led to rising purchasing power and even created demand for premium luxury products and services. With the expectation that the number of middle-to-high-income segments will be one in two households by 2030/31, up from one in four currently, we believe this trend will likely become further amplified, driving overall private consumer expenditure growth, it said.
Domestic customers will get access to high-quality Swiss products such as watches, chocolates, biscuits, and clocks at lower prices as India will phase out customs duties under its trade pact with the EFTA bloc on these goods over a period of time. India and the four-European nation bloc EFTA signed a trade and economic partnership agreement (TEPA) on Sunday to boost trade and investments between the two regions. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland.
The two-wheeler segment has shown signs of recovery in the first half (H1) of calendar year (CY) 2024, largely driven by improving performance in rural areas. According to the Federation of Automobile Dealers Associations, rural contribution to two-wheeler sales surged by 57-60 per cent in the April-June quarter of 2024-25, indicating a rising demand in these regions. Experts believe that this trend will continue, supported by a favourable monsoon season and government initiatives aimed at rural development.
Renowned agricultural scientist M S Swaminathan and the driving force behind the nation's 'Green Revolution,' passed away in Chennai on Thursday.
Amid rising air pollution caused by the burning of crop residue, the Bihar government has decided to identify farmers who are indulging in this practice and put up their names at the block offices, officials said on Saturday.
The timing coincides with Maldivian President Mohamed Muizzu's recent state visit to China, aimed at strengthening ties.
A fresh global skill gap study shows how India can tap opportunities in Germany, New Zealand, Qatar, Malaysia, The Netherlands, Saudi Arabia, Singapore, Sweden, Switzerland, UAE and the UK.
The government will formulate a strategy to make India self-reliant in edible oils by boosting domestic output of oilseeds and launch a comprehensive programme to support dairy farmers, Finance Minister Nirmala Sitharaman announced on Thursday. India imports a large quantity of edible oils to meet the domestic demand. During the 2022-23 marketing year (November-October), the country imported nearly 165 lakh tonnes of cooking oils, valuing a whopping Rs 1.38 lakh crore.
'The man who has been Gujarat's chief minister for 13 years has no understanding of the ills affecting the farmers and agriculture in India.'
The prime minister and his cabinet will be compelled to do what governments in other democracies must: Listen to criticism from citizens and tolerate it and even learn from it. In doing so, perhaps they can also get a laugh out of the material, as many of us so often do, notes Aakar Patel.
The generation of quality jobs and skill development should be the focal point, cutting across ministries and departments, asserts Nivedita Mookerji.
While the government has claimed significant increase in funds for farm credit, PMKSY and PKVY, facts show a different story.
'We are confident that over the next few years the government will strike a fine balance between populist measures and growth, and manage coalition partners well.'
A provision of Rs 15,000 crore has been made in the budgetary estimate of 2016-17 towards interest subvention.
'There is a great scope for enhancing the use of organic fertilisers'.
Union Minister of Road Transport and Highways Nitin Gadkari on Tuesday unveiled the prototype of the world's first Bharat Stage (BS)-VI-compliant electrified flex-fuel car, developed by Toyota Kirloskar Motor. The car, which runs on 100 per cent ethanol (E100), is based on the Toyota Innova HyCross. It can cover 40 per cent of its distance on ethanol and the remaining 60 per cent on electric, with the petrol engine shut off.
Foreign portfolio investors (FPI) have pulled out $3.5 billion from India's equity markets so far this month. The selling comes on the back of election-induced volatility and the rotation of flows from India to China, where stocks are available at half the valuations. If the selling pressure remains at the current level, this will be the highest FPI pullout since January 2023.
Prime Minister Dr Manmohan Singh announced that the National Food Security Mission would be formally launched from Andhra Pradesh.
It is in more than a decade that the IMD has predicted 'above-normal' rains in the country.
In his post, Gandhi urged people to elect the Congress and said, "Rajasthan will choose free treatment. Rajasthan will choose cheaper gas cylinder. Rajasthan will choose interest-free agricultural loan. Rajasthan will choose English education. Rajasthan will choose OPS. Rajasthan will choose caste census."
'Sweden removed the inheritance tax because many of the rich were fleeing. For example, the owner of IKEA had migrated out of Sweden'
A peek into the life of a public-sector banker who did well professionally, but paid a price for it, points out Tamal Bandyopadhyay.
'Like every Budget, this time, too, there is chatter around tinkering with the long-term capital gains tax.' 'Investors may not want to jump into the markets until there is clarity on this front.'
24x7 power supply to farmers emerges as a political lightning rod in the state.
Finance Minister Nirmala Sitharaman on Tuesday announced income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled the Modi 3.0 government's first budget after the general elections.
An exhibition on the origins of Indian art, culture, handicrafts, and India's grassroots farming innovations is scheduled for September 9 and 10.
Pakistan's deputy Prime Minister and Foreign Minister Ishaq Dar, who is in China on a four-day visit, and Chinese Foreign Minister Wang Yi co-chaired the fifth round of the foreign minister-level China-Pakistan Strategic Dialogue.
The case dates back to August 2017 when the Income Tax department had carried out searches at multiple premises in Delhi as part of its alleged tax evasion probe against Shivakumar, his alleged business associate and liquor trader Sachin Narayan, another associate Sunil Kumar Sharma who operated a fleet of luxury buses, Karnataka Bhawan (Delhi) employee A Hanumanthaiah and former state government employee and caretaker posted at the Karnataka Bhawan Rajendra N.
In 2019, actor turned-politician Sumalatha Ambareesh, an independent backed by the BJP, won by defeating then Kumaraswamy's son and joint candidate of the then ruling Congress-JD-S alliance Nikhil by 1,25,876 votes.
'Candidates will receive hands-on training in drone piloting, maintenance, data analysis, and regulatory compliance.'
'Its people are either victims of corruption or witnesses to it.'
The Food Safety and Standards Authority of India (FSSAI) has commissioned a quality check on MDH and Everest products. This follows complaints that several popular spice mixes of the two leading brands contained traces of ethylene oxide more than the permissible levels, official sources said. This move by FSSAI comes after Hong Kong and Singapore recalled variants of the two masala majors' products in their countries.
Justice Krishna S Dixit, presiding over a single judge bench, issued notice to the parties concerned and paused the ongoing investigation.
'The life of his political career is dependent on success in this constituency.'
Notwithstanding robust volume growth and a strong performance from Jaguar Land Rover (JLR), Tata Motors, the country's second-largest automobile (auto) manufacturer by market capitalisation, disappointed the Street with its January-March quarter (Q4) results for 2023-24 (FY24). While consolidated revenues saw a 13 per cent increase, lower-than-expected realisations in the Indian operations weighed down overall performance.
In July, the Pakistan government's debt swelled to USD 2.44 billion, including USD 2.07 billion in non-guaranteed debt owed to China, as per Geo News.
Modi was in Lakshadweep on January 2 and 3 to inaugurate the Kochi-Lakshadweep Islands Submarine Optical Fiber Connection and lay foundation stone for the renovation of primary healthcare facility and five model Anganwadi centres.
The Wayanad Lok Sabha seat, where Rahul Gandhi won for the second time in a row, comprises three assembly constituencies each in the tribal district of Wayanad and the Muslim-dominated Malappuram, as well as one in Kozhikode district where Christians hold a significant vote base.
'It is a fiercely fought battle, like our fiery chillies in Guntur.'
The National Human Rights Commission, in its report, also observed that the "pervasive fear of reprisal, coupled with the power dynamics at play, acted as a formidable barrier", preventing individuals from voicing their grievances.
