The private sector's new project announcements in the quarter ending March were among the highest on record. The value of new private sector project announcements for the three months ending March 2024 was Rs 9.8 trillion, shows data from tracker Centre for Monitoring Indian Economy (CMIE). This is the second-highest on record in data going back to 2009.
Retail sales of cars are back to January 2018 levels in August 2021. Two-wheeler retail sales are 22 per cent lower, nearly four years down the line.
Despite concerns over the progress of monsoon, the Centre for Monitoring Indian Economy on Thursday said the Indian economy would grow at 6.3 per cent in 2004-05.
Government announcements for the building of new roads, railways, and other capital expenditure (capex) projects may have hit an all-time low, according to numbers for the December quarter.
The Centre for Monitoring Indian Economy (CMIE) has lowered its growth forecast to 6 per cent, from 6.2 per cent projected earlier, for this fiscal, owing to the delay in recovery in industrial sector and the fall in mining, manufacturing and construction segments.
"This has been powered by a rebound in the agricultural sector following the drought in 2009-10, and a sharp pick-up in private consumption and gross fixed capital formation," CMIE said.
Gross fiscal deficit of the central government during 2002-03 is likely to be higher at Rs 1,52,300 crore (Rs 1,523 billion) as against the budgeted amount of Rs 1,35,524 crore (Rs 1,355.24 billion), according to CMIE.
Will people buy as many cars as before if more office-goers are working from home? How much existing office space in commercial buildings will become surplus, and what will that mean for the construction industry, asks T N Ninan.
Fresh formal job creation cooled for the second consecutive month to decline to a six-month low in September, signalling a downturn in the labour markets this financial year. The number of new monthly subscribers under the Employees' Provident Fund (EPF) declined by 6.45 per cent to 891,583 in September from 953,092 in August, shows the latest payroll data released by the Employees' Provident Fund Organisation (EPFO). Besides, the net payroll additions -- calculated by taking into account the number of new subscribers, the number of exits, and the return of old subscribers -- increased by 14.9 per cent to 1.72 million in September from 1.49 million in August.
Indian economy is expected to grow by 7.4 per cent in 2003-04 and the next year is also likely to be good for the country, according to a top official of Centre for Monitoring Economy.
India's unemployment rate witnessed a sharp decline to 6.57 per cent in January, the lowest since March 2021, as the country gradually recovers with easing of restrictions following a decline in Omicron cases, according to CMIE. While unemployment in urban India stood at 8.16 per cent in January, in rural areas it was the lowest at 5.84 per cent, as per data by independent think-tank Centre for Monitoring Indian Economy (CMIE). In December, the unemployment rate stood at 7.91 per cent, with urban at 9.30 per cent and rural at 7.28 per cent, it added.
About 56 million Indians may have plunged into extreme poverty in 2020 as a result of the pandemic, increasing the global tally by 71 million and making it the worst year for poverty reduction since World War II, according to fresh estimates by the World Bank. "The global goal of ending extreme poverty by 2030 is likely to be missed: By then, about 600 million people will remain in abject poverty. A major course correction is needed," Indermit Gill, chief economist at the World Bank, tweeted. The World Bank in its latest "Poverty and Shared Prosperity" made fresh estimates of poverty using a new extreme poverty line based on the purchasing power parity (PPP) of $2.15, the earlier one being at $1.9.
The outlook cut is based on a weak premise since the economy is expected to rebound this fiscal but a wake-up call was needed.
The Centre for Monitoring Indian Economy on Monday pegged the growth of Indian economy at 7.5% for the first quarter of 2004-05 and that for the entire next fiscal at 6.3%.
India's unemployment rate surged to a one-year high of 8.3 per cent in August as employment sequentially fell by 2 million to 394.6 million, according to data from the Centre for Monitoring Indian Economy (CMIE). During July, the unemployment rate was at 6.8 per cent and the employment was 397 million, the CMIE data added. "The urban unemployment rate is usually higher at about 8 per cent than the rural unemployment rate, which is usually around 7 per cent.
India's GDP is expected to grow at 9.2 per cent in FY11 on the back of spurt in economic activities, Centre of Monitoring Indian Economy (CMIE) said in its monthly review.
Unemployment rate in the country has zoomed to a high of 8.3 per cent in December, the highest in 2022, according to data from Centre for Monitoring Indian Economy (CMIE). The unemployment rate during November was at 8 per cent, while in September it was the lowest at 6.43 per cent and was at the second highest level during the year at 8.28 per cent in August, the CMIE data stated. While the urban unemployment rate was at 10 per cent during the last month of 2022, rural joblessness stood at 7.5 per cent during December.
India's economy is likely to grow at 5.8 per cent in the current fiscal as against an earlier projection of 6.6 per cent, a leading economic think-tank said in its latest report.
Domestic demand for goods and services in the country is likely to increase in FY'10 on account of a possible sharp decline in commodity prices globally and reduction in prices of branded goods, an economic think-tank has said. Most of the demand-related problems, which the industry faced following the worsening of the global liquidity crisis in September 2008, were temporary in nature, the report said.
The recent government decision to restrict supply of subsidised cooking gas cylinders to six per year to each household will see consumption for fuel decline to 4.1 per cent in second half of the fiscal, a report by think-tank CMIE said.
The Centre for Monitoring Indian Economy (CMIE) has lowered its automobile production forecast by a percentage point to 9.6 per cent for this fiscal on account of a persistent higher interest rate regime, hike in taxes and the resultant increase in vehicle prices.
Even after the government data showed a sharp fall in FY12 growth numbers and the April factory output data at a poor 0.1 per cent, a leading economic think tank on Thursday said it expects a revival in fortune and pegged GDP growth for the current fiscal at 7.3 per cent.
Driven by an estimated 8.4 per cent growth in the fourth quarter, the economy is expected to grow by 7.1 per cent in the just-concluded fiscal and by a robust 9.2 per cent in the current financial year, the leading economic think-tank CMIE has said.
Rising rupee and higher base have decelerated Indian companies' topline growth to 15.1 per cent for the quarter ended September 2007, the Centre for Monitoring Indian Economy said in its monthly review in Mumbai. The IT sector was stung by the rising rupee, while the slow down in the steel sector was purely on account of a higher base coupled with a less than 7 per cent increase in steel prices, the think tank added.
The biggest deal was clinched during April-October 2010, raked in a whopping Rs 39,656 crore, paling the Rs 11546.6 crore deal struck in the year ago period.
CMIE expects the growth rate to climb slowly from around 6 per cent in the first-half to about 8 per cent in the second-half of FY 10.
Corporate India's sales and profitability are expected to improve in FY 10, Centre for Monitoring Indian Economy said in its monthly review.
The share of foreign companies in private sector investments, directed towards building new factories and other facilities, has declined over the past six months. A mix of large domestic announcements and relatively lower growth in foreign capital expenditure (capex) plans have played a role, although foreign investments remain near record levels. The share of foreign companies in the overall private sector investments over the four quarters ended June 2023 has dipped to 14.9 per cent, as shown by a Business Standard analysis of data from the project tracker Centre for Monitoring Indian Economy.
Backed by investment activity and healthy performance of the services sector, the economy is expected to grow at 6.2 per cent in 2004-05, according to Centre for Monitoring Indian Economy.
Buoyed by the surge in India's exports for April-December 2002 despite global slowdown, the Centre for Monitoring Indian Economy on Monday revised the export growth forecast for 2002-03 from 10 per cent to 18.7 per cent.
Economic think-tank Centre for Monitoring Indian Economy has revised its forecast for industrial production growth in 2008-09 to 4.5 per cent from 6.3 per cent as the global economic crisis has cast shadow on its projection.
The government has authorised economic think-tank Centre for Monitoring Indian Economy (CMIE) to collect data to be used for compilation of the new series of Index of Industrial Production (IIP).
All indices ened in the green, barring realty and consumer durables. The BSE metal, IT and auto indices were up 1.5% each. The oil & gas index added 1% in trades on Friday.
The manufacturing sector (excluding petroleum sector) would report a 24.3 per cent PAT growth mainly on account of low raw material prices and soft interest rates, CMIE said, adding PAT of the financial and non-financial services would rise by 32.2 per cent and 20.4 per cent, respectively.
India's real GDP is expected to grow by 8.6 per cent this fiscal as compared to a growth of 8.5 per cent recorded in FY 11, Centre for Monitoring Indian Economy (CMIE) said in its monthly review.
CMIE further said that it has dropped its forecast for sugar production during 2009-10 due to an expected fall ofeight per cent in sugarcane. Similarly, because of the expected fall in oilseeds, CMIE dropped its forecast for production of edible oil.
Centre for Monitoring Indian Economy says industrial sector in India is liket to see expansion at 10.4 per cent for fiscal 2009. The reason for the current slowdown in industrial production was the supply problem faced by sectors like cement, aluminium, electricity and steel, it said. India's industrial growth slipped to 5.3% in January as compared to 11.6% in the same month last year as growth in all major sectors comprising manufacturing, electricity and mining declined.
Apart from signalling the shape of things to come, the stock markets are seen as an important source of funds for investment - so their health can be critical.
Recession-hit India Inc may not have done well in terms of Profit After Tax (PAT) growth in the previous fiscal, but FY 10 could see it clocking a robust over 77 per cent growth in PAT, an economic think-tank forecast in its latest report.
