The Adani group struck first coal from its Carmichael, Australia project on Thursday and will start shipping to its customers according to schedule. With this, the project will not only lift the economic prospects of the hitherto barren Australian outback, but also help Indian power plants to source cheap coal. The project had faced protests from a section of population with several banks even refusing to fund it. The group, however, went ahead with the project which included construction of a brand new railway line connecting an Australian port to the mine -- situated 300 kilometers away in Queensland.
Planet Earth welcomed its 8th billion inhabitant on Tuesday, a remarkable milestone for humanity that is set to propel India to become the world's most populous country next year, surpassing China amid rising global challenges.
Life Insurance Corporation (LIC) may require at least five more years to comply with the minimum public shareholding of 25 per cent beyond the current exempted timeline of 2027. Formal communication in this regard had been shared recently with the finance ministry, underlining LIC's roadmap, plans of further dilution of stake, current norms around public float, and challenges ahead, a government source familiar with the matter said. "Going forward, we will have to take a call, along with Sebi (Securities and Exchange Board of India) and the Department of Economic Affairs on the roadmap for minimum public shareholding (MPS).
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.
The world seems to have caught severe pneumonia, or worse, as China had flu.
'If global growth continues to be sluggish, India instead could potentially take a bigger piece of a shrinking pie,' says Prachi Mishra, managing director, Global Macro Research, and India chief economist, Goldman Sachs.
India has surpassed China to become the world's most populous nation with 142.86 crore people, shows the latest United Nations data, even as UN projections estimate that the country's population is expected to grow for the next three decades after which it will begin declining.
Zudio was the standout performer as it tapped into the pentup demand in small-town India, at a pace never seen before, notes Indrajit Gupta, co-founder and director, Founding Fuel.
The further expansion and upgrade of the Chinese military does not augur well for India, which continues to confront an increasingly belligerent China on its borders, notes former foreign secretary Shyam Saran.
The consumer confidence in urban India has increased by 9 points.
'The reason being we cannot let premiums go beyond a certain point.'
Beti Bachao Beti Padhao is for protection and education of girl child
The meet will focus on the recent global economic developments, challenges and collective measures to address them
'In India, a deadly wave of infection with the Delta variant stole 240,000 lives between April and June and disrupted economic recovery. Similar episodes could take place in the near term,' said the report.
Manufacturing activities in India touched a three-month high in March boosted by faster expansions in new orders and output amid demand resilience and easing of cost pressures, according to a monthly survey. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) rose from 55.3 in February to 56.4 in March, signalling the strongest improvement in operating conditions in 2023 so far. The March PMI data pointed to an improvement in overall operating conditions for the 21st straight month.
India is increasingly a willing participant in the evolving US' Indo-Pacific strategy. While these developments are related to the perception of a growing Chinese security challenge, their implications for India's much-vaunted strategic autonomy should be a matter of deeper and closer reflection, asserts former foreign secretary Shyam Saran.
Modi sees export-led growth one of the best ways to create jobs.
Principal economic advisor, Ila Patnaik, is coordinating the work on Economic Survey 2013-14.
'While GST and demonetisation are likely to cause disruption for longer than the market currently expects, they can have meaningful positive impact over the medium-term.'
Apart from IIM-L, where more than 110 organisations participated in the summer placements, there has been a general slowdown in the placement process of other institutes. A boom was expected in the reality and retail sectors but, given the ongoing slump, these sectors had little to contribute to uplift the offer market for graduating students. Experts believe the slowdown scenario is expected to continue up to next year. "Opportunities in 2010 will be good," they added.
IMF members will also be examining whether China's heavy intervention in the yuan market was befitting of a freely convertible reserve currency
The world economy is going through a tough phase.
After tabling the Survey, Jaitley told reporters that fiscal deficit for the current year will be 4.5 per cent which needs to go down further in the next two years.
India's negotiating posture at the multilateral negotiations should be aligned with a significantly transformed development strategy domestically.' 'The positions the country takes at the negotiations will then carry credibility, says Shyam Saran, former foreign secretary and India's chief negotiator on Climate Change 2007-2010.
A few days back, Atul Ganatra, president of the Cotton Association of India, presented a grim scenario of the crop's prospects in the 2024-25 season that starts in October. Addressing the association's annual general meeting, Ganatra said the area under the crop could go down by at least 10 per cent in the coming season due to falling yields and realisation, leading to farmers losing interest. The fear of a decline in acreage comes against the backdrop of India's cotton production probably falling to its lowest in a decade, according to estimates.
Fitch Ratings on Friday said it has revised the outlook on India's sovereign rating to 'stable' from 'negative' as downside risks to medium-term growth have diminished on rapid economic recovery. Fitch Ratings kept the rating unchanged at 'BBB-'.
Overall, the Brazil, Russia, India, China and South Africa gap has widened as developed economies are taking the lead.
oil market remained under pressure and big gains are unlikely.
At this year's TIME ball in New York City on Thursday, April 25, you would have run into a Coimbatore-born American scientist, looking lovely in Sabyasachi Mukherjee designer finery, who would most likely have been hanging out with Dua Lipa.
A significant 71 per cent of India's CEOs are very confident of their companies' growth in the next 12 months, a 7-point increase over last year's and 33 points above this year's global average (38 per cent).
Competition in the cellular market, including the capital, could soon be hotting up with the Department of Telecom clearing a proposal to issue letter of intent to mobile operator Aircel in eight of the 11 circles it had applied for licences.
The phone conversation came days after it emerged that Modi will not be travelling to Russia for the annual India-Russia summit this year.
CPI inflation could fall marginally but stay above RBI's comfort level.
Slowing economic growth and an oversupply of new hotels conceived during the boom years of 2006 and 2007 have led to falling room and occupancy rates in India.
India's GDP is estimated to contract by a record 7.7 per cent during 2020-21 as the COVID-19 pandemic severely hit the key manufacturing and services segments, as per government projections released on Thursday. Amid overall decline in economic activities, some respite was provided by the agriculture sector and utility services like power and gas supply, which have been projected to post positive growth during the current fiscal ending March 2021.
'While we note the very strong cyclical recovery in the economy, we believe there is still uncertainty over medium-term prospects.'
Parliament has cleared the Mines and Minerals (Development and Regulation) Amendment Bill, 2023, recently. The objective of the Act is to invite investments from the private sector, including foreign companies, for mining minerals such as lithium and other critical minerals. Other than lithium, some of these minerals were classified as atomic minerals, including beryl and beryllium, niobium, titanium, tantalum and zirconium.
India's manufacturing sector activities moderated in March with companies reporting softer expansions in new orders and production as inflation concerns dampened business confidence, a monthly survey said on Monday. The seasonally-adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) was at 54.0 in March, down from 54.9 in February, highlighting weakest rate of growth in terms of production and sales since September 2021. The March PMI data pointed to an improvement in overall operating conditions for the ninth straight month.
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The GDP numbers destroy any hopes of an economic rally prior to the elections, and the installation of a new government.
Stocks of defence-related companies have been firing on all cylinders on the bourses in calendar year 2023 (CY23). Shares of Hindustan Aeronautics (HAL), Bharat Electronics (BEL), Bharat Dynamics (BDL), Data Patterns, MTAR Tech, Cochin Shipyard and GRSE have rallied in the range of 21-96 per cent so far this year. By comparison, the BSE Sensex is up 8 per cent. The gains have been sustained on the back of robust export opportunities, a healthy project pipeline and the government's continued push for local manufacturing and indigenisation of defence equipment.
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