At the end of 2014, 70.17 million of China's rural residents lived below the country's poverty line.
Taking potshots at Prime Minister Narendra Modi over his remarks that the United Progressive Alliance government left everything empty, Congress on Monday claimed "bad days have begun for the countrymen", citing a socio-economic survey of Gujarat.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
The services sector growth in India fell to a one-year low in November on softer expansions in new work intakes and output, despite receding price pressures, a monthly survey said on Tuesday. The seasonally adjusted S&P Global India Services Business Activity Index fell from 58.4 in October to a one-year low of 56.9 in November. Despite witnessing a month-on-month decline, the rate of expansion was stronger than its long-run average.
The government's stalled projects are predominantly in infrastructure.
As per a survey by online job portal careerbuilder.com the challenges that the employees have come through in tiding over the economic recession last year have taken a toll on workplace morale.
India's manufacturing sector continued with its robust performance in November, mainly on the back of substantial easing in price pressures and strengthening demand from clients, a monthly survey said on Friday. The strong performance of the manufacturing sector is expected to continue in 2024 as well. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) rose to 56 last month from the eight-month low level of 55.5 recorded in October.
Chief economic advisor V Anantha Nageswaran on Tuesday said Indian economy will grow at over 7 per cent, down from above 8 per cent of growth rate projected in January. He, however, said that the economic momentum and the animal spirits are "unmistakable". "India's own growth rates have come off the projections made in January down to about 7-plus per cent for the current financial year," Nageswaran said speaking at Global Fintech Fest event in Mumbai.
The report highlights that India's population in 2036 is expected to be more feminine compared to the 2011 population, as reflected in the sex ratio which is projected to increase from 943 in 2011 to 952 by 2036, highlighting a positive trend in gender equality.
The stakes are significant for the BJP in this round as the party had in 2019 won an overwhelming majority of these seats, including all in Gujarat, Chhattisgarh, Bihar and Madhya Pradesh, that will go to polls on May 7.
Fitch Ratings on Thursday raised its forecast for India's economic growth to 7 per cent for the next fiscal year starting April 1 on the back of strong domestic demand and sustained level of business and consumer confidence. With a stronger-than-expected 8.4 per cent growth in gross domestic product (GDP) during the third quarter (October-December) of the current fiscal year, Fitch saw the Indian economy expanding 7.8 per cent in 2023-24 financial year (April 2023 to March 2024), marginally higher than the government's estimate of 7.6 per cent.
The government's programmes should be expected to generate some momentum, but the macro-economic numbers are not encouraging, observes T N Ninan.
'If you do quick back-of-the-envelope calculation, someone earning Rs 10 lakh can get a benefit of anywhere between Rs 35,000 and Rs 45,000, even if s/he is availing exemptions.' 'A large proportion of people do not avail full exemptions as they don't have money to invest in those schemes.'
Projecting a moderation in inflation despite the hike in petrol and diesel prices, the Economic Survey on Thursday cautioned against the pressures from rising foreign funds and global commodity price movement.
Reserves provide a cushion against shocks.
Policymakers should consider the challenges of beneficiary identification, distributor opposition and beneficiary financial inclusion.
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The country has slipped two positions to sixth to tie with Germany, the survey by research firm Ipsos said.
'Dynastic politics has become a tool of convenience for political parties. The BJP does not hesitate to accept it when it comes to its own alliance or party candidates. The same goes for the others.'
The Youth Economics: Career Expectations survey by PHD Chamber of Commerce and Industry paints an optimistic picture.
The second annual employment and unemployment survey 2010-11, by the Labour Bureau, will show an improvement in the employment situation, officials said, while attributing the positive trend to a change in methodology, sample size and some extent to an improved labour situation in the country.
A substantial number of castes and groups are already placed in the reserved category, getting about 52 per cent of reservations altogether. It would be completely inequitable to place the Maratha community in the Other Backward Class (OBC) category, it said.
The Union Budget's focus on capital expenditure is expected to crowd-in private investment and push the GDP growth rate close to 7 per cent in the next financial year beginning April 1, said a Reserve Bank article on 'State of the Economy'. In 2023-24, capital expenditure is budgeted at Rs 10 lakh crore which will constitute 3.3 per cent of GDP. "We believe that India will decouple from macroeconomic projections of current vintage and also from the rest of the world.
Amid rising geopolitical risks, a vast majority of Indian CEOs have indicated in a survey that they are reducing or planning to reduce operating costs, even as they are more upbeat than their global peers on their country's economic prospects. However, most of the companies do not plan to cut their headcount or salaries, found the annual Global CEO Survey released by consultancy giant PwC here on the first day of the World Economic Forum meeting on Monday. The survey also found that about four in ten CEOs (40 per cent of global and 41 per cent of India respondents) do not expect their companies to be economically viable in 10 years if they continue on their current path.
The recovery seen in the increased economic activity till September or October is running out of steam. Labour statistics indicate a substantial slowing down of the economy in November, notes Mahesh Vyas.
Ahead of the upcoming elections, political parties have started announcing incentives to benefit women, but what do women truly seek for genuine gender parity, asks Nivedita Mookerji.
Chief Economic Adviser K V Subramanian on Wednesday said India is expected to hit a growth rate of 6.5-7 per cent in 2022-23 and accelerate further to 8 per cent in the subsequent years on the back of reforms undertaken by the government. He also said the government is expected to meet the fiscal deficit target of 6.8 per cent in the current fiscal despite pressure on revenue collections.
Among the Sensex firms, Larsen & Toubro, Tata Consultancy Services, Infosys, HCL Technologies, Hindustan Unilever, Axis Bank, ICICI Bank and Wipro were the major gainers. Nestle India, Asian Paints, JSW Steel, Kotak Mahindra Bank and HDFC Bank were among the losers.
China's average GDP growth rate for the 1979-2004 period was on Monday revised to an impressive 9.6 per cent, 0.2 percentage point higher than the original figure in accordance with the first national economic survey.
Confidence in the state of the world economy has improved to some extent but majority of experts from business, government and civil society are still pessimistic, says a survey by World Economic Forum.
"The findings of Pew Global research are very significant. After the Modi government came to power, people's trust in the government, democracy and confidence that the nation is in the right direction has gone up drastically," the BJP chief said.
Finance Minister Nirmala Sitharaman on Tuesday met IMF managing director Kristalina Georgieva and discussed a range of issues, including impact of geopolitical situation on global growth.
India Inc's investment in all aspects of social networks, mobile computing, analytics and cloud computing (SMAC) is consistently surpassing its global counterparts.
Prime Minister Narendra Modi on Sunday suggested that if the Congress comes to power, it would redistribute wealth of people to Muslims and cited former PM Manmohan Singh's remark that the minority community had the first claim on the country's resources.
Indian Economy poised for growth, say experts.
Recruitment activities declined for the second consecutive month in June this year amid challenging economic conditions, a survey by job portal Monster.com has said.
In a few hours the Government of India will table the Economic Survey for fiscal 2003-04. Economic Survey is always presented a day before the Annual Budget is announced by the Finance Minister. Take the Rediff Business Quiz and find out how much you
India, he said, has already taken a host of reforms in banking and other sectors and is now focussing on stepping up public investment. "Compared to other nations, even among advanced countries, I think India is relatively better placed for the simple reason that India paid a certain price last decade... we had a banking system stress which was then compounded by stress in the non-banking financial sector towards 2018," he said at Amazon Smbhav Summit.
Around 55.7 per cent of the workers had no qualms in fudging their cost details and almost 61 per cent felt that it is fine to take printouts and photocopies in offices for personal work, says a survey by TeamLease Services.
