Changes in global oil and gas rates matter more to India's economy than other major economies because the country imports around 87 per cent of its oil, half of its gas in the form of LNG, and over 60 per cent of its LPG.
The Indian economy is on the path of a durable recovery on the back of conducive monetary and credit conditions, the global headwinds notwithstanding, said a Reserve Bank of India (RBI) article on the state of the economy. Domestically, there have been several positives on the COVID-19 front, in terms of reduced infections and faster vaccinations, the article published in the RBI Bulletin November 2021 added. The Indian economy, the article said, is clearly differentiating itself from the global situation, which is marred by supply disruptions, stubborn inflation and surges of infections in various parts of the world.
India's economy is unlikely to see double-digit growth and may grow between 8 per cent and 9 per cent this fiscal year (2021-22, or FY22), against the estimated 11.5 per cent, according to leading economists and rating agencies. The downward revision of growth projections to as low as 10 per cent is mostly on account of stringency in restrictions by states, relatively slow vaccination pace, and the possibility of a third wave of the pandemic. However, they say the impact will not be as severe as the first wave, and expect the first quarter to see positive growth.
Tight liquidity will hit over-leveraged and cash-hungry companies, spare conservative ones
'The BJP's defining character is Hindutva. The party's political strategy is based on a combination of Hindutva+Development.'
For the second year in a row, India has been recognised as the fifth-best performing nation in reforming the business environment. However, in the two categories that the government was banking on most - "Paying Taxes" and "Resolving Insolvency" - landmark reforms that were expected to yield better results have had the opposite effect. Under the circumstances should the country celebrate already or are there any reasons for worry, wonders Subhayan Chakraborty.
A glance back at some of the important ups and down Indian Inc faced in 2018.
Sahara and its founder Subrata Roy have been under scrutiny for years over its financial products, including for possible money laundering.
The Supreme Court on Monday dismissed a plea of fugitive businessman Vijay Mallya seeking review of its 2017 order holding him guilty of contempt of court for transferring USD 40 million to his children.
The uptick in prices ranging from steel to wheat could benefit lots of commodity-based companies -- from State-owned SAIL to the agro exporters.
RPTs are globally recognised as an important component of the ease of business index.
Could it have been more reformist? Of course, but this is an election year Budget, observes Akash Prakash.
Indian Army officers are convinced China is maintaining the pretence of dialogue and negotiations in order to create the opportunity to occupy more Indian territory. Senior Indian planners apprehend this might be a Chinese ploy to divert attention from Depsang, in Northern Ladakh, which might be China's actual target.
Kumar said the Commission will follow the time-tested methods of consultations and consensus building in bringing about any reforms and will not shy away from tough decisions, according to an Election Commission (EC) statement.
IndusInd Bank, Kotak Bank, ICICI Bank, Sun Pharma, Bajaj Finance and Ultratech Cement were prominent gainers. NSE Nifty rose 176.65 points to 14,867.35.
The poor and unbanked can take their rightful place as consumers of financial services only if the Modi government encourages different entities to advance the financial inclusion agenda, say Vikram Gandhi & Chandni Ohri.
'The current budgetary practice of shifting expenditures off-balance sheet in order to be seen to be meeting fiscal targets should be discontinued; additional fiscal stimulus would be imprudent; individual income tax rates should not be cut; GST rates should not be raised now,' advise Arvind Subramanian and Josh Felman.
India Ratings and Research on Friday revised down India's FY22 real GDP growth forecast to 10.1 per cent, from earlier projection of 10.4 per cent, citing the second wave of COVID-19 infections and slower pace of vaccination. At a time when large parts of the country are experiencing tremendous pressure on medical infrastructure, the agency said it expects the second wave to start subsiding by mid-May. Earlier this month, the Reserve Bank maintained its 10.5 per cent GDP growth estimate, but Governor Shaktikanta Das has flagged the rising cases as the biggest impediment to recovery.
President Gotabaya Rajapaksa on Monday fired Basil Rajapaksa from his post and invited the Opposition parties to join a unity Cabinet to tackle the raging public anger against the hardships caused by the economic crisis.
United Bank of India has asked Vijay Mallya and three other directors of grounded Kingfisher Airlines to appear before a panel of the bank at the head office in Kolkata on July 9.
When it comes to key hands-on management positions, India Inc is still largely run by men.
Vijay Mallya is accused of money laundering and violating the FEMA.
Chanda Kochhar has been ranked as the most powerful woman in the Asia Pacific region by fortune magazine.
Moody's expect RBI to hold policy 'repo' rate steady to have a neutral stance in this growth
In its scheme of things, tackling inflation now comes ahead of ensuring growth in the world's sixth largest economy, points out Tamal Bandyopadhyay.
In addition to the problem of long queues at automated teller machines, there would be the problem of guiding new cardholders, especially in rural and semi-urban areas, on how to use those cards, some bankers told Business Standard.
N Sundaresha Subramanian, Karan Choudhury and Shreya Jai report on the sorry condition of homebuyers who invested in Jaypee Infratech and the Amrapali group's Noida-based projects.
The high court further asked the Delhi Development Authority to state its stand on a batch of petitions challenging the action and also seeking a bar on the demolition till a fresh "demarcation report" is prepared.
The Tata group companies are now more valuable than all the listed central public sector undertakings (CPSUs) or companies in the country. The key 20 listed Tata companies ended the 2021 calendar year with a combined market capitalisation of Rs 23.36 trillion, ahead of the 70 listed CPSUs, which had a combined m-cap of Rs 23.2 trillion. In comparison, these CPSUs had a combined market capitalisation of Rs 16.7 trillion at the end of December 2020 against the Tata group firms' combined m-cap of Rs 15.7 trillion.
The MEA spokesperson further said the actions and behaviour of the Chinese side since earlier this year along the LAC have been in "clear violation" of the bilateral agreements and protocols concluded between the two countries to ensure peace and tranquility on the border.
Retail investors have gained significant heft in the past year amid a sustained uptick in Indian equities. The share of retail investors in companies listed on the NSE reached an all-time high of 7.32 per cent in the quarter ended December 31, 2021, up from 7.13 per cent in the previous quarter and 6.9 per cent a year ago, the data from PRIME Infobase shows. This was despite the Nifty's 1.5 per cent decline during the quarter.
For 2020 calendar year, it reduced the estimate by a similar measure to 6.7 per cent.
Former RBI governor Raghuram Rajan on Monday said the central bank will have to raise interest rates to tame inflation and the hikes need not be considered by politicians and bureaucrats as some "anti-national" activity. Known for his frank views, Rajan also said it was important to remember that the "war against inflation" is never over. "Inflation is up in India. At some point, the RBI will have to raise rates, like the rest of the world is doing," he said in a LinkedIn post.
There will be an automatic reduction in interest rates of all floating rate loans anytime soon.
The country's largest lender, State Bank of India, has said that there will be no hike in lending rates in the next six months as there is surplus liquidity in the market.
During the World War, Singh fought alongside the Allied Forces in North West Frontier province, Eritrea, Abyssinia (now Ethiopia), Libya, Egypt and Italy.
