The Bank suggested reforms in infrastructure sector.
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.
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.
Trade between India and Indonesia stands at $20 billion.
Lower IT exports will raise India's dependence on capital flows to fund imports.
Unveiling the economic agenda of the new government, President A P J Abdul Kalam on Monday promised massive public investments in agriculture and industry, encouraging foreign direct investment
JSW Steel (3.37 per cent), Tata Steel (3.33 per cent), Maruti (3.24 per cent), Power Grid (3.07 per cent), IndusInd Bank (2.95 per cent), Bajaj Finance (2.12 per cent) and Tech Mahindra (2.22 per cent) were among major gainers. On the other hand, Ultratech Cement, Sun Pharma, Nestle and L&T were the losers.
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.
Modi attended the 20th ASEAN-India Summit in Jakarta. Secretary-General of ASEAN Dr Kao Kim Hourn also attended the summit.
The middle class's long push to force the state to retreat from the economy may be reversing, says Ajit Balakrishnan.
The World Bank has approved loans totalling $1.75 billion (about Rs 13,834.54 crore) to fund India's PM Ayushman Bharat scheme and private investment to boost the economic growth. Of the total loan, $1 billion will go towards the health sector, while the rest $750 million will be in the form of development policy loan (DPL) to fill the financing gaps through private sector investment in the economy. The World Bank Board of Executive Directors approved two complementary loans of $500 million each to support and enhance India's health sector.
Foreign Secretary Vinay Kwatra on Wednesday refused to speculate on whether the G20 foreign ministers' meeting would be able to come out with a joint communique against the backdrop of widening differences between the West and Russia on the Ukraine conflict.
Raghuram Rajan optimistic about passage of GST
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.
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.
...or just a Covid-era practice, asks Ajit Balakrishnan.
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.
Here's the full text of address to the nation by President Droupadi Murmu on the eve of the Republic Day 2023.
The push given to rooftop solar installation in the Interim Budget ties in with its high rate of adoption in Tier-II and -III cities of India. If original equipment manufacturers (OEMs) in the automobile industry, government, and the solar sector are to be believed, in cities of Rajasthan, Gujarat, and Kerala, 45-50 per cent of electric-vehicle (EV) users are employing rooftop power to charge their vehicles. This is compared to the national average of 25 per cent, say industry sources.
'China is in a good position to defuse financial risks.'
The Reserve Bank of India (RBI) on Friday kept the key repo rate unchanged at 4 per cent in view of rising inflation and faint signs of economic growth amid the gradual lifting of coronavirus related countrywide lockdown.
The long-term growth perspective or potential for India is one of the highest in the Asia Pacific region.
When I was leaving Pakistan and going abroad I had no feeling of happiness but today I am happy, Sharif said.
Technology has and will continue to fundamentally reshape the world, says World Bank president Jim Kim.
Analysts attribute the surge to a host of factors, particularly the interest shown by the retail investors in these two market segments.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
'It's not really going to bring about purity in the election process.'
In 1930, John Maynard Keynes predicted that by 2030 technology would be so advanced that three hours of work per day would suffice. Has AI brought about the transformation that Keynes predicted, asks Atanu Biswas.
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.
The optimism in global markets could help India as the rebound in GDP is expected to continue and get more broad-based.
Only NIIF has stayed the course as a viable infrastructure financing institution.
Consumption-related stocks, such as hotels, and quick service restaurants (QSRs), have been hitting the ball out of the park ahead. On the other hand, the Miss World Pageant scheduled for later this year in New Delhi, too, could provide some tailwind to these stocks, especially hotels and aviation. However, analysts suggest investors put their best foot forward and buy these counters only on a decline given the recent rally and economic headwinds.
Noting that India has 'limitless possibilities and countless opportunities', Modi urged the BRICS business leaders to take advantage of them.
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.
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.
Gold prices hit record high in the third week of March as fears of bank collapses and high inflation led investors to the traditional safe haven. Gold prices are often inversely correlated to dollar strength because the international price is dollar-denominated. The Federal Reserve's (Fed's) stance indicates that the dollar may appreciate further since it is prepared to keep pushing up policy rates. But demand for gold is also up - the World Gold Council claims central banks are buying in addition to private demand.
Equity and oil markets can breathe easy for now, as the developments in Russia are unlikely to trigger a runaway rally in crude oil prices, said analysts. India, which imports nearly 80 per cent of its crude oil requirement, has been dependent on cheap Russian oil over the past few months to keep inflation - a sore point for the equity markets - in check. For the Indian markets that are expected to remain volatile amid these developments, analysts believe, the progress of monsoon, fund flows - both foreign institutional investor (FII) and domestic - and the upcoming corporate earnings season back home remain key.
'These companies hired in high numbers last year and are balancing that out this year by recruiting fewer freshers.'
