Recession-hit India Inc may not have done well in terms of Profit After Tax (PAT) growth in the previous fiscal, but FY 10 could see it clocking a robust over 77 per cent growth in PAT, an economic think-tank forecast in its latest report.
'The Indian economy and the Indian financial sector today remain resilient and much better placed.'
Centre for Monitoring Indian Economy says industrial sector in India is liket to see expansion at 10.4 per cent for fiscal 2009. The reason for the current slowdown in industrial production was the supply problem faced by sectors like cement, aluminium, electricity and steel, it said. India's industrial growth slipped to 5.3% in January as compared to 11.6% in the same month last year as growth in all major sectors comprising manufacturing, electricity and mining declined.
When it comes to losing a job permanently, the youngest and the oldest segments in the workforce have reported an increase in setbacks in the second wave of the pandemic, a survey of by a Fortune500 company has said. The survey, conducted in April this year, covered 2,000 persons in India. Six per cent of those over 55 years of age reported having permanently lost their job, as against 4 per cent last year. In those aged under 24, the proportion reporting a permanent job loss has increased to 11 per cent from 10 per cent in the year-ago period, the survey done by financial technology company FIS said.
Apart from signalling the shape of things to come, the stock markets are seen as an important source of funds for investment - so their health can be critical.
The second wave of COVID-19 and the resultant localised lockdowns have impacted over 75 lakh jobs, taking the unemployment rate to a four-month high of 8 per cent, the Centre for Monitoring Indian Economy (CMIE) said on Monday. The situation on the employment front is expected to continue to remain challenging going forward as well, CMIE's managing director and chief executive Mahesh Vyas said.
'Even for operational buildings, we are looking to smarten them in various ways.'
The average inflation in the current fiscal is likely to be around 9.6 per cent as against 4.7 per cent in the last financial year, a leading economic think-tank has said.
Reserve Bank Governor Shaktikanta Das on Monday said with the country's foreign exchange reserves at $677 billion, it is comfortably placed to deal with any spillover effects and for financing of the current account deficit. Over the last three years, the country's foreign exchange reserves have surged by $270 billion. He said as per the latest data, the foreign exchange reserves are $622 billion.
'Nobody is talking about the inequality that is going to come.'
'The government has given up its focus on economic growth because it it not something Modi has been able to fully understand.' 'This explains the extraordinary focus on divisive politics by the BJP even at a time when the world's most important man in visiting India,' notes Aakar Patel.
'Focus on 19,400/64,900 as the key resistance levels for the Nifty/Sensex.'
According to a Centre for Monitoring Indian Economy press note, nearly 30.6 million hectares were sown as of November 23, against 34.5 million hectares a year ago.
Expenditure on new projects slowed down for the second quarter in a row amid an uncertain global environment and higher borrowing costs. There were new projects worth a cumulative Rs 3.26 trillion in the July-September period, according to data provided by project tracker Centre for Monitoring Indian Economy (CMIE). This figure is much less than Rs 4.39 trillion in the June quarter (Q1FY23) and Rs 8.46 trillion in the March quarter (Q4FY22).
Inflation and interest rates seem to be on top of everyone's mind at the moment.
Oilseeds production in India is going to move up. A new report says oilseeds growth in the country will be 16 per cent higher at 26.9 million tonnes during the fiscal as against 23.3 million tonnes produce in 2006-07.
Kharif foodgrains production will touch 103 million tonnes in 2003-04 compared to 90.5 million tonnes produced in the last year, according to the Centre for Monitoring Indian Economy.
Driven by a surge in manufacturing sector, the Index of Industrial Production is estimated to grow at 7.5 per cent in the current fiscal, according to Centre for Monitoring Indian Economy.
India's savings rate which has shown a sharp jump in the last few years is expected to decline to 34 per cent in FY'09, the Centre for Monitoring Indian Economy said in its monthly review.
Indian tea exports are expected to decline by 6.9 per cent at 165 million kg in 2003 as compared to last year even as production is likely to record a 5.3 per cent rise at around 870 million kg.
The delay in the current year's monsoon rains has heightened uncertainty over India's economic growth and pushed up the risks of a drought, according to a leading independent forecaster.\n\n\n\n
The country's unemployment rate in July fell to 6.80 per cent, the lowest level in the last six months, amid rising agriculture activities during monsoon, according to Centre for Monitoring Indian Economy (CMIE) data. The unemployment rate dropped to 6.80 per cent in July from 7.80 per cent in June, the CMIE data said. Rural unemployment declined 6.14 per cent to 272.1 million last month from 265.2 million or 8.03 per cent in June, it said.
Buoyed by the upbeat performance of the manufacturing sector, including metals, Centre for Monitoring Indian
With prices of fuel, sugar and metal products likely to remain high, the Centre for Monitoring Indian Economy on Tuesday raised the inflation forecast for 2004-05 to 6.5 per cent from the earlier estimate of five per cent.
Customers will not gain as much as it appears to be from reduction in excise duty on small cars as announced in the budget for 2006-07 as manufacturers had already raised the prices ahead of the Budget.
India must be prepared to deal with climate disasters, geopolitical confrontations, and social strife linked to global events, asserts Jayant Sinha, chairman of Parliament's Standing Committee on Finance.
The government's promise to review the tax structure for automobiles industry notwithstanding, the Centre for Monitoring Indian Economy on Monday
The real gross domestic product growth is likely to touch 9 per cent in 2003-04 based on better than expected performance of the agriculture sector, according to Centre for Monitoring Indian Economy.
Passenger cars sales in India are expected to clock a 14 per cent growth this financial year on higher demand for compact and mid-sized cars, economic think-tank CMIE has forecasted.
With improved prospects for the farm sector, Centre for Monitoring Indian Economy on Friday raised the economic growth forecast for 2005-06 to 6.8 per cent from the earlier six per cent.
The Centre for Monitoring Indian Economy on Monday revised its projection of the GDP during 2003-04 to 8.2 per cent, much higher than the earlier forecast of 7.4 per cent.
Clocking its highest growth in the last two years, the services sector has recorded a nine per cent increase in sales during the quarter-ended June 2003, a leading economic think-tank said on Monday.
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