'This is not like a one quarter hit; it will take time.'
At present, bank depositors get an insurance cover of Rs 1 lakh on their amount by the Deposit Insurance and credit Guarantee Corporation.
The past eight months have seen vast improvement in the Indian economy, says Edelweiss Group chairman and chief executive Rashesh Shah, who feels domestic-oriented sectors are likely to do better.
Lower revenue collection puts upward pressure on government borrowing, ensuring that it deviates from the glided path of debt reduction
This is the ninth consecutive month that the manufacturing PMI remained above the 50-point-mark.
'It will be only in fiscal year 2023 when the size of the Indian economy will be bigger than what it was in 2020, you will see demand and employment rising.'
We asked you to tell us your reason for choosing not to vote. This is what our readers shared.
Most analysts as well as company executives say the rally in commodity prices is ill-timed coming just when firms were recovering from disruptions such as demonetisation & introduction of GST
The sobering news is that retailers - including big firms like Reliance Retail - and exhibitors are contemplating issuing force majeure notices to shopping malls and real estate owners, and are in discussions with them to formulate an action plan for sharing the financial burden of the lockdown.
'The economy is suffering (perhaps 'enjoying' is a better word) the lowest credit demand in decades; banks are struggling with stressed loans equivalent to near 10 per cent of GDP,' points out Devangshu Datta.
Maruti, Honda and Tata Motors posted highest sales growth during the month
The finance minister has labelled about 65 per cent of the fuel excise revenue as cess, including the restructured road and infrastructure cess
Expect more volatility in the coming year as the economy and markets price in the demonetisation drive.
'Our liquidity is strong for the next 15-20 days.' 'But if the situation worsens drastically, then we will have to think about laying off people.'
In fuel and power segment, inflation saw a sharp surge to a near double digit inflation at 9.99 per cent, against 4.37 per cent in July.
After being cornered by Patanjali and macro-headwinds, ayurveda major Dabur is pulling up its socks. With better sales and improved margins, the firm is now looking to leverage the renewed popularity of ayurveda, mostly ignited by rival Patanjali. Sunil Duggal, bottom, left, chief executive officer, Dabur India, shares his plans and insights with Arnab Dutta.
market rally, especially in mid-caps, has also been driven by a pick-up in the monsoon and the government's resolve to get the goods and services tax (GST) Bill cleared in the recent session of Parliament.
Indian economy was growing faster than the global average and all other major economies: FM
The sub-quota scheme may now lead to a ganging up of non-Vanniyars in individual constituencies against the Vanniyars just as in the past, such ganging up against SC-ST candidates was seen in the non-quota constituencies, says N Sathiya Moorthy.
From the rollback of customs duty on key electronic components to fast tracking delivery of goods imported from China, players are looking for incentives on several counts.
'No finance minister has the capacity to put the economy in an ICCU just like no finance minister has the capacity to take it for 10% growth!'
Car makers see a dip in demand from their biggest buyers, Ola and Uber. Demand from aggregators weakened for a number of reasons after a strong growth last year.
'The variables to watch include the monsoon, resolution of NBFC liquidity issues, GST collections, and NPA resolution.'
Headed by Urjit Patel, MPC for the fourth straight time kept the repo rate unchanged, at which it lends to the banks, at 6.25 per cent. The reverse repo, at which RBI borrows, will be 6 per cent.
What is killing the risk appetite of the bond buyers is the inconsistency in the central bank's approach. It needs to allow the yield to find its own level, gradually. To ensure that, the RBI may adopt a similar approach with which it handles a slipping rupee, asserts Tamal Bandyopadhyay.
On being asked why he doesn't talk about his humble background like Modi, Singh said, "I don't want the country to take a pity on the basis of my humble background."
A smartly executed reform-recap will be the best booster for the economy, says Ajay Chhibber.
There were more than three losers against every gainer on BSE
'If I don't fulfil promises made in it, I can be sent to jail,' he said.
'The most important thing to do is to stop taxing citizens so brutally,' recommends T C A Srinivasa-Raghavan.
The combined share of customs and excise duties, service tax, and value-added tax in India's gross domestic product reached an all-time high of 10.5%.
'The CEA suggested that could be as high as 19 per cent.'
At a pre-Budget meeting, the FM was asked to ensure that NBFCs come out of the liquidity crisis they are facing with the help of RBI. They also spoke about the futility of trying to achieve a 3 per cent fiscal deficit target over the medium term.
Stalin owes his victory this time, like in 2019, to the hate-campaign of the local Hindutva forces, which kept haranguing him, and even his dead father, notes N Sathiya Moorthy.
Even with the possible expenditure roll-overs and off-budget financing, the fiscal deficit target will not be met. The FRBM Act, after its amendment in 2018, allows a fiscal deficit slippage of not more than 0.5 per cent for any given year, provided there are justifications. These justifications include war, national security, severe collapse in the agriculture sector, a major natural calamity, big structural economic reforms, or the decline in real output growth of a quarter by at least 3 percentage points below its average of the previous four quarters.
It is only 'zero-cost' money from FPIs that is keeping the market afloat
Poor performance of the banking, oil and exploration industries have impacted corporate tax collections.
The introduction of GST would constitute India's biggest reform.
'The current crisis is one of incomes, driven by poor job growth, agrarian distress and poor investment sentiment,' notes Harsh Pati Singhania, director, JK Organisation.
The broader market outperformed with the S&P BSE Midcap down 0.3%, while the S&P BSE Smallcap was little changed.
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