Concerned by GDP slowdown and unrealistic tax targets, the economists urged Finance Minister Nirmala Sitharaman to implement long-term structural steps like land and labour reforms. Warning against any off-Budget financing the economists said the government should prepare a statement of intent for its social, rural and welfare sector expenditure.
But much depends on govt action & global economy; Sensex gains in 2070 the biggest in five years
Over 15 years, with seven per cent growth, the Indian economy will be three times bigger.
India should learn to live with high energy prices for rapid economic growth, said Planning Commission Deputy Chairman Montek Singh Ahluwalia after two of the state-owned oil companies hiked petrol rates this week.
Slamming the Union budget as 'insipid' and lacking in stimulus for growth, the Congress on Saturday said it does not address the main issue of unemployment and describes the mindset of the government.
Modi will participate in the first-ever trilateral meeting between Japan, America and India and the 2nd Russia, India China trilateral, which is taking place after an interval of 12 years, on Friday.
India needs a paradigm shift in personal data management that transforms the current organisation-centric data sharing system to an individual centric approach that promotes user control on data sharing for empowerment, said Niti.
There is positive correlation between crude oil prices and Indian equities and investors can expect more upside after the recent rally in Brent crude price.
'US officials must grapple with the possibility that one of its closest partners attempted an extrajudicial killing on its soil.' 'This is not something that friends typically do to friends.'
A study says shortage of skilled workers, inferior quality and inadequate highway infrastructure can defeat Indian carmakers.
Industry players believe the new DFI model will be initially risk capital, which will then be used to mobilise additional resources from development agencies such as World Bank.
The NHRC said that it has received several complaints regarding the ongoing farmers' protest.
Market players said a big upmove by the market will depend on policy action by the government to revive economic growth and corporate earnings revival.
Companies in the small-cap universe are having a dream run - the Nifty Smallcap 100 index has shot up more than 25 per cent on a year-to-date basis, even as the benchmark Nifty is up 7 per cent. This is the best start for the index since 2017 when the Nifty Smallcap 100 index surged 32.3 per cent between January 1 and May 10. However, in terms of outperformance to the Nifty, this year's performance is the best in more than a decade. A combination of sectoral tailwinds and lack of institutional selling pressure has helped small companies escape from the correction triggered by the second wave of Covid-19.
India's services sector activities touched the highest mark since April 2011 amid ongoing improvements in demand conditions, even as cost pressures in the service economy remained stubbornly high, a monthly survey said on Tuesday. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 58.9 in May to 59.2 in June -- its highest mark since April 2011. For the eleventh straight month, the services sector witnessed an expansion in output. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction.
'India seems to be on a relatively better wicket compared to other emerging markets.'
The Whole Price Index inflation figure for June is slated to be released tomorrow. "The WPI forecast is 11.12 per cent for June. . .the RBI is slowly withdrawing from its low policy rates regime and the trend is going to continue, given the inflationary pressure in the economy," IEG said in its monthly bulletin.
Borrowing from BRICS bank will help India avoid other kinds of politics emanating from the West. Overall, the BRICS institutions will necessarily adopt alternative ways of doing things based on their own cultural and socio economic needs, says M K Venu.
It is impossible for anyone to explain how markets are hitting record highs during an economic recession. It is both mysterious and surreal, notes Debashis Basu.
India will catch up with China by the year 2020 in terms of economic growth on the strength of its better efficiency of investments, an Asian Development Bank economist has said.
To a question related to RBI's policy rate, Rajan said no amount of interest rate cut is going to help if credit growth is weak.
India needs to pursue an integrated approach to energy planning as high economic growth equalling or exceeding eight per cent would create much larger demand for energy in the next few decades, a study has said.
Industrial production is expected to dip marginally in the next 3 months due to rupee gaining strength against the dollar and declining non-food credit, even as petrol and diesel might become cheaper, the Institute of Economic Growth said.
Moody's Investors Service on Friday said India's economy is expected to contract for the first time in more than four decades saying economic damage owing to the coronavirus-induced lockdown will be significant with lower consumption and sluggish business activity. Even before the coronavirus outbreak, Indian economy already was growing at its slowest pace in six years and with the stimulus measures announced by the government falling short of expectations, the disruptions are likely to be greater. "We now expect India's growth to register a real GDP contraction for the fiscal year ending in March 2021 (fiscal 2020-21), from our earlier projection of zero growth," it said in a research note.
'The BJP's real weapons are Hindutva, organisation and finance.'
Lower IT exports will raise India's dependence on capital flows to fund imports.
Noting that India has 'limitless possibilities and countless opportunities', Modi urged the BRICS business leaders to take advantage of them.
'Investors should reduce cash gradually and look for value investing.'
Public investment is very crucial for GDP growth, says finance ministry.
While overall employment rose from 456 mn to 463 mn between FY11 and FY15, with farm employment falling by 26 mn over the same period, the net addition to employment over the entire four year period was a mere 7 mn.
The government on Tuesday announced Rs 900-crore allocation in the Budget for the newly set up Ministry of Cooperation for the 2022-23 fiscal, besides slashing Alternate Minimum Tax (AMT) on cooperative societies to 15 per cent and surcharge to 7 per cent, which nodal minister Amit Shah hailed saying it will boost the sector. Of the total allocation for the next fiscal, a significant amount of Rs 350 crore has been provided for digitisation of Primary Agriculture Cooperative Societies (PACs), while Rs 274 crore for an umbrella scheme 'Prosperity through Cooperatives' which would have a number of sub-components with the aim of all-round development of cooperatives in the country. For the first time, a separate budget of Rs 11 crore has been provided to Vaikunth Mehta National Institute of Cooperative Management (VAMNICON).
The Bank suggested reforms in infrastructure sector.
'Earlier-than-expected tapering from the US, followed by rate hikes, and locally, a potential third wave, which mimics the second wave in terms of severity.'
Across top 20 management campuses, the average salary offered this year is about 22 per cent more than what was offered last year said a report prepared by MBAUniverse.com. Among the institutes surveyed, IIM-A saw the biggest salary hike of 30 per cent, while Indian School of Business (ISB) witnessed a jump of about 19 per cent. The average domestic salary of the IIM-A graduates stood at Rs 18.75 lakh per annum. Banking and financial services were the biggest recruiters.
Mahindra & Mahindra chairman emeritus Keshub Mahindra passed away this morning in Mumbai due to old age. Mahindra, 99, breathed his last this morning at home peacefully, said a person close to the family. After joining the company in 1947, he became the chairman in 1963.
Bhavish Aggarwal, the founder of ride-hailing firm Ola who disrupted the electric scooters market in the country, is planning to launch an electric sports car in 2024. The plan will put it in competition with Indian players, such as the Tata group and Mahindra & Mahindra, and global giants like Tesla and Hyundai. Aggarwal, recently, took a group of reporters to the firm's design studio at the Ola campus in Bengaluru where his teams are working on several EVs, including scooters, motorcycles, sedans, and SUVs - and even robotaxis.
The middle class's long push to force the state to retreat from the economy may be reversing, says Ajit Balakrishnan.
Raghuram Rajan optimistic about passage of GST
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