'Each state is unique, but when it comes to finance, the fundamentals cannot be different.'
Economies of Punjab, Andhra Pradesh, Madhya Pradesh, Uttarakhand and Haryana may have grown at a slower pace than the national economy during 2022-2023.
India's computer services exports have risen 30 per cent since the advent of ChatGPT in November 2022, even as overall services exports have plateaued, World Bank's South Asia Chief Economist Franziska Ohnsorge said, terming Artificial Intelligence (AI) and the conclusion of more trade agreements that can trigger a "manufacturing renaissance", as the two big investment opportunities for India in coming years.
'It must become faceless, just as the entire direct tax assessment system has already become fully online, without any human intervention in the normal course,' recommends A K Bhattacharya.
Equity markets will take cues from the US tariff related developments, global trends and trading activity of foreign investors this week, analysts said.
India's crude oil imports from Russia saw a marginal decline in September, but continued to account for over one-third of the country's total oil purchases, despite US pressure to curb the trade over concerns that it supports Moscow's war effort in Ukraine. India's crude imports in September were around 4.7 million barrels per day, up 220,000 bpd month-on-month and flat year-on-year.
The way to deal with a bully is to resist bullying, because submission in the first instance only invites even more overbearing demands in future. What may seem like a small price to pay now will lead to a much higher price later, warns former foreign secretary Shyam Saran.
Brave statements such as we will continue to be the fastest growing large country are of no consolation, because the direction of trade also determines the flow of investment, points out M Govinda Rao.
The Indian economy could remain less affected by global trade wars than other countries because the two engines of domestic growth - consumption and investment - are likely to face a limited impact from such headwinds, according to an article on the 'State of the Economy' in the Reserve Bank of India's (RBI's) bulletin, released on Tuesday.
Discrepancies in computation of advance estimates of the country's Gross Domestic Product for 2023-24 stood at Rs 2.59 lakh crore as against (-) Rs 3.80 lakh crore in 2022-23 and (-) Rs 4.47 lakh crore in 2021-22, according to National Statistical Office (NSO). On Friday, the NSO released its first advance estimates of national accounts which showed that the Gross Domestic Product (GDP) or Indian economy will grow at 7.3 per cent in 2023-24, slightly higher than 7.2 per cent in 2022-23.
He further criticised South Africa's use of the G20 platform to promote "solidarity, equality, and sustainability" to promote "Diversity, Equity, and Inclusion (DEI) and climate change."
Reliance Industries' refining earnings will remain steady, supported by its position as India's largest importer of Russian crude and favourable global supplies, according to analysts at JM Financial and Goldman Sachs. Reliance imported more Russian barrels than any other Indian refiner in the past eight months, according to data from Bloomberg/Kpler.
The Trump trade shock is a chance to push long-overdue reforms, rather than tinker with tariffs to appease the US, suggests M Govinda Rao.
Using the debt-to-GDP ratio as a fiscal anchor aligns with efforts to promote fiscal transparency through proper disclosure of off-budget borrowings.
'The power sector accounts for much of the financial burden of state governments in India.'
Bihar has been the top performer among the major states in terms of economic growth during the 11th Five Year Plan which ended on March 31, 2012.
The change in stance to neutral from accommodative in the June monetary policy meeting does not necessarily signal that the Reserve Bank of India's (RBI's) rate setting body - monetary policy committee (MPC) - will go on a prolonged pause on rate cuts going forward, believe experts.
'One Chinese interlocutor said India should realise that "China can do without India, but India could not do without China", pointing to its inability to do without Chinese intermediates and components,' former foreign secretary Shyam Saran discovers on a visit to China.
Bihar has ranked on top among the BIMARU states registering highest growth rate of 9.3 per cent
After lagging behind the broader market over the past three and six months, defence sector stocks have regained ground, reversing their performance from the past month. Concerns about slowing order inflows, execution hurdles, supply chain disruptions, and high valuations had weighed on the sector.
The Ministry of Statistics and Programme Implementation (MoSPI) on Friday said it has advanced the release of macroeconomic data Gross Domestic Product (GDP) estimates by about 90 mins to 4 pm. As per the current practice, the press releases of GDP are scheduled at 5.30 pm on the specified release dates, a MoSPI statement said.
With general government debt now approaching three-quarters of GDP, and only incremental reform efforts visible, Pakistan risks prolonging its economic stagnation unless fundamental governance, regulatory, and industrial overhauls are undertaken.
The size of Delhi's Budget is close to Rs 55,000 crore, or about 6 per cent of its gross state domestic product (GSDP). What set the state apart is that in the last decade, its fiscal deficit hardly crossed 1 per cent of GSDP, while many other states grappled to contain it within 3 per cent. This was largely possible due to the revenue surplus position, reports Abhishek Waghmare.
Donald Trump's tariffs, meant as political punishment, have avoided the predicted chaos, lifting US growth, weakening rivals, and letting him claim victory in a resilient global economy, observes T T Ram Mohan.
Terrorists active in Jammu and Kashmir will either land in jail or be sent to jahannum (hell), Minister of State for Home Affairs Nityanand Rai said in the Rajya Sabha on Wednesday while asserting that the Modi government has zero tolerance for terrorism.
The Centre on Tuesday permitted 20 states to raise Rs 68,825 crore through open market borrowings to bridge the GST revenue shortfall.
The disbursement of the second tranche comes on a day when the International Monetary Fund is holding virtual discussions on Pakistan's upcoming budget, as the visit of its mission to Islamabad was delayed due to security concerns in the region.
The new excise policy, introduced in Delhi in November 2021, made sweeping changes to the city's liquor trade.
Tourism revenue in 2014-15 likely to be about Rs 6,900 cr, a 70 per cent fall from last year's figure of Rs 23,000 cr.
If it was Andhra Pradesh last Budget, it's poll-bound Bihar that has now turned to Centre with a list of demands. How the NDA government is delivering on promises.
Gujarat's investor-friendly policies have spawned a thousand wealth-creators.
Closure has meant loss of Rs 2,000 crore to the public exchequer; around three per cent of Tamil Nadu's Gross State Domestic Product is from the facility
India's economic growth slowed to near two-year low of 5.4 per cent in the July-September quarter of this fiscal due to poor performance of manufacturing and mining sectors, but the country continued to remain the fastest-growing large economy, data showed on Friday. The gross domestic product (GDP) had expanded by 8.1 per cent in the July-September quarter of 2023-24 fiscal. The previous low level of GDP growth at 4.3 per cent was recorded in the third quarter (October-December 2022) of financial year 2022-23.
Gujarat accounts for 15.14 per cent ($114.52 billion) of the total investments in India, highest amongst all states in India, according to the Vibrant Gujarat web site.
The state's debt burden increased to Rs 1,92,000 crore (Rs 1,920 billion), against Rs 1,48,110 crore (Rs 1,481.1 billion) in 2008-09 -- a rise of about 29 per cent -- state Finance Minister Asim Dasgupta told the Assembly recently.
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Puducherry recorded the second highest per capita income in the country at Rs 1,75,006.
India's gross tax revenue, comprising both direct and indirect taxes between April and July, reported a growth rate of merely 2.8 per cent to Rs 8.9 trillion compared to the same period a year ago, as shown by government data on Thursday. This growth was dampened by direct tax figures, offsetting the healthy growth in goods and services tax collections and Customs duties. While net tax revenue contracted by 12.6 per cent to Rs 5.8 trillion up to July, accounting for 25 per cent of the Rs 23.3 trillion full-year target, this could be attributed to the increased tax devolution to states during the period.
The GDP growth is expected to be about 6.3 per cent in the current fiscal year, a tad lower than the government's estimate of 6.4 per cent, owing to several factors such as weak demand, SBI research report said on Wednesday. According to the first advance estimates (FAE) of National Income for 2024-25 released by the National Statistics Office (NSO), released on Tuesday, India's economic growth rate is estimated to slip to a four-year low of 6.4 per cent in 2024-25, because of poor showing by the manufacturing and subdued investments.
The national per capita income in 2013-14 stood at Rs 87,748.
