Let's wait for the monetary policy on February 8 -- to see how it complements the fiscal commitments, points out Tamal Bandyopadhyay.
The weak April-June quarter (first quarter, or Q1) results of the largest listed specialty chemical maker, SRF, and multiple global headwinds for the sector are expected to weigh on the prospects of Indian specialty chemical companies in 2023-24 (FY24). Stocks in the sector (down 7-18 per cent) have underperformed the benchmarks (up over 10 per cent) in the past three months, and given the multiple challenges, the trend is likely to continue. Kotak Institutional Equities expects a very weak quarter (Q1FY24) for the sector due to destocking, demand weakness across certain critical end-use industries, and price erosion amid intense competition from Chinese suppliers.
The rupee, which has appreciated nine per cent this year, much to the chagrin of exporters, is likely to become stable around Rs 40 a dollar mark, the Institute of Economic Growth has said.
Interestingly, communications, which accounts for only 2 per cent of spending today, will be one of the fastest expanding categories with growth of over 13 per cent a year.
Technology has and will continue to fundamentally reshape the world, says World Bank president Jim Kim.
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.
The prime minister said humanity is facing its most serious crisis in many decades and that NAM can help promote global solidarity as it has often been the world's moral voice.
'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.'
'India seems to be on a relatively better wicket compared to other emerging markets.'
The optimism in global markets could help India as the rebound in GDP is expected to continue and get more broad-based.
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 new government will have to contend with slowing economic growth, weak private investment, anaemic exports and vulnerable external imbalances, a stressed financial system, mounting fiscal pressures (including high government debt-to-GDP ratios) and an exceptionally bad employment situation,' says Shankar Acharya, former chief economic adviser to the Government of India.
IMF, which has also lowered its global economic growth forecast for 2016 and 2017 by a marginal 0.1 per cent to 3.1 and 3.4 per cent respectively, recommended six 'reform priorities' for India
'Concerns about India's future are hampering private investment.' 'If the private sector sees strategy, teams and execution on these issues, this will inspire confidence in India.' 'This should be our main strategy for 2017,' says Ajay Shah.
NTPC was the biggest loser in the Sensex pack, tumbling 2.25 per cent, followed by Tata Motors, Bharti Airtel, PowerGrid, HDFC, Reliance Industries, Hero MotoCorp and M&M that shed up to 1.85 per cent.
This is a terrible situation for a growing economy to be in, and the central bank would be expected to act to correct the situation.
After helping the government in policymaking since October 2014, Chief Economic Adviser Arvind Subramanian is returning to academics and will be teaching at Harvard Kennedy School on a visiting position. In an interview to Dilasha Seth and Somesh Jha, he says the ease of doing business agenda needs to move forward and India must try to integrate with the global value chains. Edited excerpts.
Together, they controlled nearly Rs 26 lakh crore of assets at the end of FY16.
At the summit, India signed the SCO's memorandum of obligations, kick-starting the process of its accession into the group as a full member.
Institute of Economic Growth has warned that rising foreign exchange demand and global interest rates may weaken the rupee and slow down forex accumulation, which is expected to touch $106 billion by March.
India's economy grew at a two-year high of 5.7 per cent in the first quarter of this financial year, after a below-five per cent growth in 2012-13 and 2013-14.
India's inclusion in JP Morgan's bond index can channel billions of dollars into India. How will the government securities market handle it?
India's military spending of USD 76.6 billion ranked third highest in the world.
The Institute of Economic Growth has forecast a depletion in the foreign exchange reserves to $79 billion in August mainly due to over $4 billion dollar payout of Resurgent India Bonds.
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 BJP's real weapons are Hindutva, organisation and finance.'
Reddy has worked to reform the economy.
'So you have welfare programmes, you reach out to the poor, you cut out the middlemen, you cut out the leakages and you try to raise the standard of living.'
Ratings agency Moody's on Tuesday affirmed India's sovereign rating and upgraded the country's outlook to 'stable' from 'negative', citing receding downside risks to the economy and financial system.
New Delhi has high average density of built up area, nearly twice the levels of wider New York metro area.
Portfolio returns, say analysts at Morgan Stanley, are more likely to be driven by bottom-up stock-picking rather than top-down macro forces.
'While we may aspire to be a democratic if smaller version of China, we may only manage to become a larger, more accomplished Indonesia,' says T N Ninan.
Former Finance Commission chairman A M Khusro, who died in New Delhi on Sunday, was a distinguished academic, scholar and a towering personality. Besides heading the 11th Finance Commission, he was the chairman of IEG.
'Instead of doing reforms and restructuring, the present government is busy with the perception that everything is fine and the economy is hunky-dory.' 'Such hollow perceptions are very dangerous for the Indian economy in the long run.' 'The real risk to India is the lack of decent employment opportunities for youth in general and educated youth in particular.'
Institute of Economic Growth on Friday said domestic interest rates are set to rise in the short term due to surging inflation and hike in international rates.
We are all 'Chasing the Monsoon', notes Ajit Balakishnan.
The Union cabinet on Wednesday approved the roll-out of the 'PM POSHAN in Schools' scheme that will provide hot cooked meal to students of elementary classes in government and government-aided schools across the country.
'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.'
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances