India's rank in the World Bank's ease of doing business index cannot get better unless more attention is paid to bringing about procedural reforms in the way states run their governments and provide various approvals for trade and industry, says A K Bhattacharya.
That's a big change that was made possible due to corporate tax cuts. Corporation tax collection in FY22 will be lower than even the FY18 levels, reports
Benefitting from the economic rebound, banks are expected to report a healthy bottom-line and asset quality profile in the quarter ended March 2023 (Q4FY23). The net profit of listed commercial banks is projected to grow by an average 43.6 per cent year-on-year (YoY) in Q4FY23 amid better net interest margins (NIMs) and declining credit costs. This is based on a combined assessment of analyst estimates for 17 banks on Bloomberg database.
Ishan Bakshi studies the Budgets of six states, their expenditure priorities and outlays to understand the trend.
As he projected a grim outlook for the economy, RBI Governor said that amidst this encircling gloom, agriculture and allied activities have provided a beacon of hope on the back of an increase of 3.7 per cent in foodgrains production to a new record.
China's GDP grew by 4.9 per cent in the third quarter, down from 7.9 per cent in the second, confirming the slowdown of the world's second-largest economy which was under pressure from the crisis-hit property sector, curbs on energy and tardy recovery from the Covid-19 pandemic.
Average salary has grown faster than average business income for three of the last five years. This has implications in a country like India. Most people in India are self-employed, with 51.4% of the population falling in that bracket.
'Modi must keep his members in check or risk losing domestic and global credibility,' Moody's warned.
The Reserve Bank on Wednesday retained the GDP growth forecast at 9.5 per cent for the current fiscal but cautioned that the economic recovery is not yet strong enough to be self-sustaining and durable.
Pegging the cost of the covid-19 lockdown at USD 120 billion (approximately Rs 9 lakh crores) or 4 per cent of the GDP, analysts on Wednesday sharply cut their growth estimates and stressed on the need to announce an economic package. The Reserve Bank of India (RBI), which is scheduled to announce its first bi-monthly policy review on April 3, is set to deliver a deep rate cuts and it should also be assumed that the fiscal deficit targets will be breached, analysts said.
Addressing a business conference, Jaitley said it was important to stay on the path of reform and build momentum to achieve higher economic growth.
Many officials had been talking of taking the baton of global growth.
Depreciating the rupee against the dollar to boost economic growth has fiscal constraints and monetary limitations
Like 2017-18, govt will seek comments from the public at large, including Facebook and Twitter
A pick-up in farmer income could have a cascading impact on the rural economy, though agriculture is becoming a smaller part of India's overall rural incomes.
An estimated 223 people have lost their lives since August 8 in Kerala's worst floods in decades that has caused damage worth more than Rs 20,000 crore.
'While most companies were bullish before the second wave of double-digit sales growth in FY22, that may not be the case now.'
Senior policymakers say it is a tough task and the finance ministry may resort to the time-tested method of carrying forward part of the subsidy payment burden to the next fiscal year.
China, the world's second largest economy, in a rare move on Monday lowered its GDP for 2012 by 0.1 percentage point to 7.7 per cent, the lowest in 14 years as the communist giant grapples with economic slowdown.
In all likelihood, the next conventional Chinese attack on India would be preceded by a massive cyber attack designed to cripple Indian networks and interfere with our disaster-relief programmes.
Concerned over elevated inflation, Reserve Bank of India on Friday decided to leave the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying more rate cuts in the future if need arises to support the economy hit by the Covid-19 pandemic.
The lowest drug prices were found in India and South Africa.
Policies have focused on promoting manufacturing, says minister, for income and job purposes.
The impact of economic slump was visible in the Budget's fine print, as this step-by-step explanation show how the Budget math was worked out, reports Abhishek Waghmare.
The US trade deficit narrowed less than expected in October as lower crude oil prices failed to offset a jump in imports, while an increase in exports suggested the economy was weathering faltering global demand.
It was primarily due to a higher trade deficit ($41.6 billion) brought about by a larger increase in merchandise import.
Overseas investors have pumped in $6.3 billion in Indian equity markets in three months ended September on attractive valuations, opening-up of the economy and resumption in business activities, says a Morningstar report. This comes following a net inflow of $3.9 billion in June quarter and a net withdrawal of $6.38 billion in March quarter. Apart from inflow, the value of FPI investments in Indian equities swelled further during the quarter under review largely on the back of robust net inflows, coupled with a strong performance of the Indian equity markets.
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 share of total health expenditure as part of the gross domestic product (GDP) went down to 3.3 per cent in 2017-18 from 3.8 per cent in the previous two years, according to the national health account data released on Monday by the health ministry. The share of government expenditure as part of total expenditure as well as GDP has gone up from from 3.78 per cent to 5.12 per cent between 2013-14 and 2017-18, which could also explain a decline seen in out of pocket expenditure in 2017-18. Health ministry also emphasised the increase in the government health expenditure as part of the total GDP from 1.15 per cent in 2013-14 to 1.35 per cent in 2017-18.
Every patriot should learn from our history and recognise that celebrating size will neither negate nor obscure the huge economic challenges that India faces, asserts Rathin Roy.
Kerala Tourism has drawn up God's Own Country 2.0 and the department is going all out to repair the state's image and infrastructure. Apart from being a damage control exercise, it is also an opportunity to reimagine the state as a tourism brand.
No longer Bengal's finance minister, Amit Mitra, Mamata's principal chief advisor, will still advise and aid the 'chief minister and finance department on all matters relating to management of state finance', represent the 'state government in national and international events/meetings/committees' and examine 'important proposals/files and policy issues relating to financial matters referred to him for advice/views'.
In India, air pollution is most severe in the Indo-Gangetic Plain (northern India), where topography and meteorology concentrate pollution from energy, mobility, industry, agriculture, and other activities, the researchers said.
GST mop-up likely to fall in May, June after touching record levels in April and March.
Real consumer spending grew four per cent at an annual rate in the third quarter, substantially up from the 2.6 per cent pace during the preceding four quarters
Moody's expects macroeconomic policies to contribute to sustained robust growth.
Economists, however, caution against interpreting the data as a broad-based revival
The state is trying hard to improve ease of doing business by several notches.
Defence already accounts for one-third of the national capital spend, the government says.
A lower base could be part of the explanation but not all.
