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.
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.
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.
The government's promise to review the tax structure for automobiles industry notwithstanding, the Centre for Monitoring Indian Economy on Monday
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.
'Nobody is talking about the inequality that is going to come.'
Centre for Monitoring Indian Economy expects industrial growth to slow to 4.5 per cent during 2003-04, due to adverse impact of drought on rural spending.\n\n\n\n
'The Indian economy and the Indian financial sector today remain resilient and much better placed.'
The Centre for Monitoring Indian Economy on Thursday revised growth forecast for the country's economic growth upwards to 6.2 per cent in 2004-05 as against earlier estimate of six per cent.
A V Rajwade wonders if the Modi sarkar is pursuing price stability at the cost of potential social instability in both rural and urban India.
The Reliance Group and the Tata Group have emerged as first and the second largest wealth creators in the private sector for the financial year 2003-04 based on market capitalisation of group entities.
The Centre for Monitoring Indian Economy revised upwards its industrial forecast for 2003-04 by 1% to 5.5% as the food sector is expected to show a positive 3% growth as against the earlier projection of a decline of 0.4%.
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).
The production of major agricultural crops is likely to drop by 12 per cent for 2002-03, reflecting an adverse impact of poor monsoon, according to the Centre for Monitoring Indian Economy.\n\n\n\n
'It is entering growth territory on a month-on-month basis.'
India's agricultural output declined during the year 2002-03 to 183 million tonne compared to 212 million tonne produced in previous year, a drop of 13.9 per cent, according to Centre for Monitoring Indian Economy.
Tax collections might fall short of expectations of the Union Budget for 2002-03, in spite of recording a "healthy" growth during the nine-month period ended December 2002, according to Centre for Monitoring Indian Economy.\n\n\n\n
India's agricultural production could see its biggest drop in more than two decades this year, due to a drought that hit nearly one-third of the country, Centre for Monitoring Indian Economy said on Friday.
The Centre for Monitoring Indian Economy on Tuesday said industrial production growth is likely to decline in the second half of the current fiscal, while the first advanced estimate of kharif crop showed a 10 per cent drop in food production.\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.
A business in India wanting access to maps and geospatial data would typically have to wait months before it got what it wanted. All this is set to change with the new guidelines on geospatial data, report Neha Alawadhi and Peerzada Abrar.
Driven by erratic monsoon and higher global crude prices, inflation is likely to grow by 5.7 per cent in the current fiscal ending March 2006, according to the Centre for Monitoring Indian Economy.
'Even for operational buildings, we are looking to smarten them in various ways.'
A look at six indicators shows all of them have collapsed from positive growth in April to contraction in September.
'Focus on 19,400/64,900 as the key resistance levels for the Nifty/Sensex.'
Urban men lost more jobs than women during the second wave of COVID-19, implying a complete loss of livelihood for millions of households, according to the Centre for Monitoring Indian Economy (CMIE). The most disproportionate loss of jobs because of the first wave of COVID-19 was among urban women, CMIE's MD and CEO Mahesh Vyas said in his analysis. He said urban women account for about three per cent of total employment, but they accounted for 39 per cent of total job losses in the first wave of the pandemic.
"India has become the fastest growing major economy in the world. Despite the global slowdown, we have registered excellent growth. Today, India is a bright spot in the global economy. We are seen as the engine of global growth," he said.
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.
India, the US and 12 other members of the IPEF grouping have signed a supply chain resilience agreement that would help mitigate risks of economic disruptions from supply chain shocks and improve crisis coordination. The agreement would help member countries like India to reduce their dependence on China and provide timely information to the IPEF member countries about potential supply disruptions. The COVID outbreak severely disrupted the global supply chain, as most countries were dependent on China for various products like pharma raw materials.
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