India's services sector growth accelerated in April, as strong demand conditions resulted in the fastest increase in new business and output in close to 13 years, a monthly survey said on Wednesday. The pick-up in demand occurred in spite of escalating price pressures. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 57.8 in March to 62.0 in April, signalling the fastest expansion in output since mid 2010, amid a pick-up in new business growth and favourable market conditions.
Here are the key numbers to watch out for in the Budget for 2022-23, which is widely expected to boost spending towards policies that create jobs, boost manufacturing, helping rural and agri-economy and infrastructure creation. Sitharaman, who had in her first budget in 2019 replaced leather briefcase -- which had been in use for decades for carrying budget documents -- with a traditional red cloth 'bahi-khata', has spurt in tax collections to her aid in the budget that is expected to a spend-all budget.
In Madhya Pradesh, the C-Voter poll projections gave the BJP 107 seats with a vote share of 41.5 per cent, against Congress' vote share of 42.3 per cent and a simple majority of 116 seats.
In the face of sluggish domestic demand and global economic slowdown, Bihar has recorded a staggering growth rate of 11.95 per cent rate annually at constant prices during 11th Five Year Plan, the highest among states.
Diesel price needs to be revised upward, or subjected to higher taxes, as misuse of subsidized diesel was adding to pollution and public health costs, the government's pre-budget economic report card said on Thursday.
Diesel price needs to be revised upward, or subjected to higher taxes, as misuse of subsidized diesel was adding to pollution and public health costs, the government's pre-budget economic report card said on Thursday.
'Rather than cutting and pasting from advanced economies, we should use basic economic principles to think about what is right for India at the stage of development at which we are,' says Chief Economic Advisor Krishnamurthy Subramanian.
The PFRDA is engaged in consolidating the initiatives taken so far regarding the full New Pension System and expanding the reach of distribution network.
India's per capita carbon dioxide emissions will increase by nearly three-fold to 3.5 tonnes by 2030, the Economic Survey 2009-10 said on Thursday.
Method will be part of this year's Economic Survey; will help investors in relative comparison.
The government has retained Arvind Subramanian as its chief economic advisor, unlike other American professors Dr Raghuram Rajan and Arvind Panagariya, who quit their jobs as RBI governor and NITI deputy chairman respectively.
Economic growth slipped to a nine-year low of 6.5 per cent last financial year, but India Inc fears further deceleration in the GDP expansion during 2012-13, shows a survey.
Finance Minister Arun Jaitley talks to T N Ninan.
The IT sector is confronted with a host of issues.
The IT sector is confronted with a host of issues.
The civil aviation sector is witnessing a number of initiatives
With more and more companies preferring to hire employees on project basis, a report has revealed that there is likely to be 90-110 lakh additions to the gig workforce by 2025, a report said on Wednesday. The gig economy has been one of the most pivotal economic shifts in a long time and people are choosing gig jobs because it works with their lifestyle, they can choose when and how much they work, or it allows them to earn money between jobs, global job site Indeed said in the report. According to the report, companies have also started investing in gig work platforms and processes, which indicates how integral they are to the future of jobs growth in India.
The Prime Minister's Office has decided to set up a panel, led by former chief statistician T C A Anant, to deliberate on whether the enterprise-level quarterly data, which is released by the labour bureau, should be discontinued.
Sitharaman, who was giving her 2021-22 Budget Speech, started off by giving a special shout out to what the Indian team
India may have achieved a teledensity of over 65 per cent, but as many as 62,443 villages are still to get a taste of telecom revolution that started since 1995-96, says the Economic Survey 2010-11.
Capital flows into India this fiscal year have been the highest in the country's history.
The pre-Budget annual report card on the state of the economy, which was tabled in Parliament on Friday, said the capital markets performed well in 2010, with a record quantum of funds raised in the primary market and the highest-ever levels being reached in the secondary market also.
Many CEOs said they plan to give special leave to women employees so as to encourage their participation in the workforce.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
India's manufacturing sector activity rose to a 13-month high in December, supported by healthy inflows of new business and strong demand conditions, according to a monthly survey. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) stood at 57.8 in December, up from 55.7 in November, as business conditions improved to the greatest extent in over two years. The December PMI data pointed to an improvement in overall operating conditions for the 18th straight month.
Executives in India and China are the most optimistic about sustainability of economic recovery, with six out of ten people reposing their faith on the turnaround in the economy, says a survey.
Mumbai is one of the most expensive cities of the world along with Hong Kong and Singapore.
On the contrary, India, along with Pakistan and Egypt, figures near the bottom of a table of nations in a survey that ranks them in terms of prosperity. The three countries are better than only Zimbabwe.
Manufacturing activities in India touched a three-month high in November as new orders and exports expanded boosted by demand resilience and substantial easing of cost pressure, according to a monthly survey released on Thursday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) stood at 55.7 in November, up from 55.3 in October, signalling the strongest improvement in operating conditions in three months. The November PMI data pointed to an improvement in overall operating conditions for the 17th straight month.
Lenders in India, comprising banks and finance companies, anticipate robust growth in retail credit during the upcoming festival season, stretching from September to December 2023. This expectation is based on resilient demand, government initiatives, and elections in key states.
'The upper caste elite's belief that they are casteless is a belief that is available only to the upper castes. Because all the lower castes are reminded by society every day what their caste is.'
The FM could have been bolder, but this is still a forward-looking Budget.
Job seekers can look forward to a prosperous new year as more than 850,000 new jobs are expected across various sectors, including FMCG and healthcare, says a survey.
Chief Economic Adviser (CEA) K V Subramanian on Tuesday exuded confidence that India would achieve double-digit growth in the current financial year on the back of policy initiatives and continuing reforms. He also said the country is well poised to meet the fiscal deficit target of 6.8 per cent of GDP. "At this stage, I can say confidently that we should be able to achieve that fiscal deficit number. "Any shortfalls that might happen on the disinvestment side will also be accompanied by positive surprises that have happened on tax revenue," he told reporters.
India's manufacturing sector activity remained broadly flat in June as new orders declined for the first time in over four years and power cuts and fragile economic conditions weighed on the sector's performance, an HSBC survey said.
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