New filers reported an average income, in many cases, close to the income tax threshold of Rs 250,000, limiting the early revenue impact.
"The year 2010 has been one of strong growth for the Indian capital markets. Bulls tossed off the markets in the year 2010... following global recovery and with FIIs pumping money into the market," the Economic Survey said.
From the Sensex basket, Power Grid, Asian Paints, Tata Motors, Tata Steel, NTPC, Sun Pharma, Mahindra & Mahindra, HDFC Bank, Tata Consultancy Services and JSW Steel were among the major gainers. Kotak Mahindra Bank, Bharti Airtel, Axis Bank, Wipro, ICICI Bank and IndusInd Bank were among the laggards.
sharper-than-expected economic recovery back home, analysts say, can fuel a further rally in domestic cyclicals, industrials, and financials as global central banks continue with their easy money policy.
'Rahul Gandhi is raising the issue of a caste census though his party has been doing injustice on this front from the 1950s.'
The finance minister said that the Central Statistical Organisation in its advance estimate has projected the economy to grow by 7.2 per cent this fiscal.
But the report also said that early marriage has been declining over time.
While 44-year-old Sunak was at the BAPS Shri Swaminarayan Mandir in Neasden on Sunday to promise to keep trying to "make the community proud", 61-year-old Starmer chose another north London Swaminarayan Temple in Kingsbury on Friday to reiterate his commitment to building a "strategic partnership with India".
Business activity contracted in Q2 FY20, the first contraction since 2013-14 and the second since the 2008 global financial crisis, report, Abhishek Waghmare and Anup Roy.
Eminent economist Arvind Panagariya has said India is on the cusp of returning to a high growth trajectory and voiced confidence that the country will become the world's third-largest economy by 2027-28. Currently, India is the fifth largest economy "so it's another five years.We are already in (the year) 2023. "So 2027-28, India should be the third-largest economy," Panagariya, Columbia University Professor and former Vice Chairman of NITI Aayog, told PTI in an interview in New York.
Chief Economic Advisor (CEA) V Anantha Nageswaran on Thursday said describing India's recovery as 'K-shaped' was wrong as both rural and urban economies were recovering, albeit at different paces. Speaking to reporters at the Finance Ministry, Nageswaran said the gross domestic product (GDP) growth print for the recent October-December quarter (Q3FY23) will likely be revised upwards. "The notion of using the letter 'K' to denote urban and rural is somewhat wrong because it is almost as if one is growing and one is contracting. "I would say one segment's slope is more positive, and the other one slope is less positive but it is positive," Nageswaran said.
The government's decision to release the reports comes two days after over 200 scholars from across the globe issued a statement demanding release of all withheld reports produced by the NSO, including the household consumer expenditure survey that was junked.
Enthused by higher than expected GDP numbers in the fourth quarter of 2022-23, Chief Economic Adviser (CEA) V Anantha Nageswaran on Wednesday said India's economic growth may exceed the initial estimate of 6.5 per cent in the current fiscal and the country can look for another year of solid economic performance.
Budget 2010 went far beyond most recent Budgets in that it defined an entirely new paradigm for the Indian economy.
Budget 2010 went far beyond most recent Budgets in that it defined an entirely new paradigm for the Indian economy.
Among the Sensex firms, JSW Steel, Tata Steel, Tech Mahindra, Infosys, Wipro, Tata Consultancy Services, Nestle, HCL Technologies, HDFC Bank and Maruti were the major laggards. IndusInd Bank, ITC, Bharti Airtel and State Bank of India were among the winners.
Gandhi, who is usually flanked by senior party colleagues, was also greeted by both President Droupadi Murmu and Vice President Jagdeep Dhankhar.
Bihar Chief Minister Nitish Kumar on Tuesday announced his intent to raise quotas for Other Backward Classes, Scheduled Castes and Scheduled Tribes in the state, saying a legislation to the effect is likely to be brought in the ongoing assembly session.
'Modi knows the people here are opposed to this project, but he is using the might of government to push this port down our throats.'
India's economic growth slowed down to 8.4 per cent for the quarter ended December 31, 2007
Retirement planning and secondary sources of income have become key financial priorities for Indians, as they look to prepare for higher inflation, health concerns, and economic slowdown risks. PGIM India Mutual Fund's Retirement Readiness Survey shows that at present 67 per cent Indians have their retirement plan in place, compared to 49 per cent in 2020. "The pandemic was probably the factor making people realise the importance of saving and investing, leading to an increase in people planning for it.
Canada was behind India at the fifth place with 65 per cent economically confident citizens.
India's manufacturing sector saw a slower growth rate for the second straight month in May but stayed firmly in expansion mode with global sales increasing to the greatest extent in over 13 years, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 58.8 in April to 57.5 in May, signalling a slower but substantial improvement in the health of the sector. The index had climbed to a 16-year high of 59.1 in March.
On the Rs 20,000-crore (Rs 200-billion) modernisation of Delhi and Mumbai airports, the survey said work is in progress, adding that while the Delhi Airport project is likely to be completed by 2010, work at Mumbai airport will be over by 2012.
In the Eleventh Five-Year Plan period (2007-12), employment opportunities would surpass the projection of about 45 million, in turn helping to bring down unemployment in the country to below five per cent, according to the Pre-Budget Economic Survey tabled in Parliament on Thursday.
The other dominant fear among the people is the irrational behaviour of people, once the lockdown is lifted.
'it's not just youth in India who are left behind because of their inability to find jobs; nearly two-thirds of Indian women of working ages do not participate at all in the paid labour force.'
The Gross State Domestic Product (GSDP) of Maharashtra is expected to grow at 8.6 per cent during the year 2009-10 as against 3.4 per cent during the previous year, an economic survey said.
The United States is the only western nation which ranked in the top 10.
'The China opportunity, the digital opportunity and the end of geography opportunity are the three pieces of luck India got due to Covid.'
Most Indian chief executives are optimistic about the economy and believe it would improve in the coming 12 months, said a survey by consulting and auditing firm PwC on Tuesday. The company's 27th annual global survey polled 4,702 chief executive officers (CEOs) in 105 countries and territories, including 79 in India, from October 2 to November 10, 2023. As many as 86 per cent of CEOs in India - 30 per cent higher than a year ago - are confident that the economy would improve.
Chief Economic Adviser K V Subramanian on Monday said the overall impact of the second wave of COVID-19 on the country's economy is not likely to be large but cautioned about an uncertainty surrounding the pandemic going ahead. He further said that given the circumstances due to the pandemic, it is difficult to forecast if the country would achieve a double digit growth in the current fiscal. The Economic Survey 2020-21 released in January this year had projected GDP growth of 11 per cent during the current financial year ending March 2022.
Chief Economic Advisor Krishnamurthy Subramanian said China imports a lot of components, parts, assembles and integrates and then exports them.
The improvement in the fiscal health of particularly the states and the Centre led the high growth trajectory of the period FY'04 to FY'08, according to the pre-Budget Economic Survey, presented in Parliament on Thursday.
Generative AI (GenAI) has the potential to add a cumulative $1.2-1.5 trillion to India's GDP over the next seven years, according to a report by EY. The report titled 'AIdea of India: Generative AI's potential to accelerate India's digital transformation' says that in 2029-30 alone, GenAI can contribute an additional $359-438 billion to India's GDP. The report said that around 69 per cent of the overall impact of GenAI on India's GDP is expected to be derived from sectors such as business services (including IT, legal, consulting, rental of machinery and equipment, and others), financial services, education, retail, and healthcare.
The services sector growth in India rose to a 13-year high in September on sharp increase in new business amid strong demand conditions, and job numbers continued to increase as overall business mood improved, a monthly survey said on Thursday. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 60.1 in August to 61 in September, signalling a sharp upturn in output. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction.
The 50-share NSE Nifty closed at a fresh life high of 11,130.40 points, up 60.75 points, or 0.55 per cent.
The meeting with economists and financial experts has been called off due to pressing engagements of the finance minister.
Most economists expect the global economy to weaken in the coming year amid political and financial volatility, but a large majority of over 90 per cent are confident of moderate or strong growth in South Asia, notably India, a survey showed on Friday. At the same time, the outlook for China has dimmed following signs of deflationary pressures and fragility in the country's real estate market, the World Economic Forum's latest 'Chief Economists Outlook' report said. As the world grapples with political and financial volatility, almost six in 10 believe the global economic outlook will undermine progress towards meeting the UN Sustainable Development Goals (SDGs), with 74 per cent saying geopolitical tensions will have the same effect.
'The response from the government using words like malicious, deliberate, etc is diverting from the real issue.' 'The indicators related to young children such as stunting or child mortality are a reflection of the social development in the country.' 'That's how we have to look at it and not ignore the issue by denying the data.'
