The US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.
'The shifts in US involvement in global conflicts and geopolitical alliances could introduce uncertainties.'
The number of fresh formal jobs generated in a month increased to a seven-month high in April, signalling a recovery in the formal labour market in the country, according to the latest monthly payroll data released by the Employees' Provident Fund Organisation (EPFO) on Thursday. In April, the number of new monthly subscribers under the Employees' Provident Fund (EPF) sequentially increased by 18.77 per cent to 887,438 from 747,146 in March.
Uttar Pradesh Chief Minister Yogi Adityanath highlighted the successful execution of the Maha Kumbh 2025, emphasizing effective crisis management, economic benefits, and the event's role in national unity and infrastructure development. He cited the swift response to a stampede on January 29 and the extensive preparations that ensured a smooth experience for millions of pilgrims.
Real GDP grew by a respectable 7.8 per cent in the first half of FY'09, which was lower than its expectations but, it was nevertheless in line with its view that the economy was growing at a healthy pace and that fears of a slowdown were misplaced, CMIE said. The agricultural sector grew by 2.7 per cent during the quarter ended September 2008, lower than CMIE's expectations.
In 2022-2023, 15.5 per cent of women were unemployed compared to 11.2 per cent in 2017-2018. For every one woman employed, 10 men got a job.
With 7 per cent economic growth, India is not creating enough jobs as reflected by the number of applicants for vacant posts in some states, Reserve Bank's former governor Raghuram Rajan said and suggested the government needs to focus on promoting labour-intensive industries to generate employment. Rajan further said some Indians, especially those at upper level, are comfortable and have high incomes, but consumption growth from the lower half of the country has still not recovered to pre-pandemic level.
'Future market gains will likely depend primarily on earnings growth.'
We still have time for this government to take action.
The Reserve Bank of India (RBI) has identified "climate shocks" as a risk to food inflation rates and overall price rise while stating that the outlook for the country's economic growth remains bright. In its Annual Report for 2023-24, released on Thursday, the central bank said easing supply-chain pressures, broad-based softening in core inflation, and early indications of an above-normal southwest monsoon meant well for the inflation outlook in 2024-25. "The increasing incidence of climate shocks, however, imparts considerable uncertainty to the food inflation and overall inflation outlook," said the RBI while noting headline inflation moderated by 1.3 percentage points on an annual average basis to 5.4 per cent in 2023-24.
The Indian Railways carried more goods in December 2023 than the same time last year, making more money than any month bar one since the pandemic. The railways made Rs 15,098 crore by carrying freight in December 2023. The number was higher only in March 2023 when it earned Rs 15,769 crore, according to data from the Centre for Monitoring Indian Economy (CMIE).
The unemployment rate for women was last this low around Diwali in 2022. The unemployment rate has dropped for women from 14.9 per cent in December 2023 to 11 per cent in January 2024, according to data from the Centre for Monitoring Indian Economy (CMIE). It was higher in January 2023 at 13.5 per cent.
Indian economy, which is 75 per cent dependent on agricultural output is seen to grow at the rate of 6.5 per cent in 2003-04 on the back of normal monsoon rains.
Bihar has fertile grounds for caste to emerge as an electoral issue.
Over 10 million Indians have lost their jobs because of the second wave of COVID-19, and around 97 per cent of households' incomes have declined since the beginning of the pandemic last year, Centre for Monitoring Indian Economy (CMIE) chief executive Mahesh Vyas said on Monday. The unemployment rate measured by the think-tank is expected to come at 12 per cent at the end of May as against 8 per cent in April, Vyas told PTI, adding this signifies that about 10 million or 1 crore Indians have lost jobs in this period. Stating that the main reason for the job losses is "mainly the second wave" of COVID-19 infections, Vyas said, "As the economy opens up, part of the problem will be solved but not entirely."
As the Union government explores ways to restrict import of laptops and other electronic devices starting with a 5 per cent reduction from the current level, it is working to ensure that there's no supply disruption in India even if an import cap is introduced, it is learnt. The caveat assumes significance in the context of the government's announcement of its plan in August 2023 to issue licences for import of select IT hardware products to reduce the country's dependence on China.
The government has approved the construction of two indigenously designed nuclear attack submarines and is expected to ink contracts next month to procure 26 naval variant of Rafale jets and three Scorpene submarines, Navy Chief Admiral Dinesh Tripathi said on Monday.
India is trying hard to erase Indonesia's wariness about New Delhi, building security cooperation in the Indian Ocean and Pacific Ocean. If Indonesia decides to buy the Brahmos missile, it would further strengthen relations between the world's most populous nation and the most populous Islamic country.
'Retail investors have to stick to their asset allocation plans and continuously do portfolio reviews.'
Bangladesh was the largest source of foreign tourists, accounting for 21.4 per cent of all arrivals.
Manufacturing's share in the profit pool of companies had declined before the pandemic.
'The large scale and widespread shrinking of the labour force in November, the peaking of unemployment in October and the fall in lead indicators in October and November point towards a worsening of the slowdown of the Indian economy in the third quarter of 2019-20,' says Mahesh Vyas.
Addressing mediapersons after the investiture ceremony of ARTRAC, Singh said the Army has to understand and study these scenarios so that it is prepared if it has to undergo a similar situation tomorrow.
Geopolitical events, macroeconomic data and quarterly earnings of corporates would guide the stock market in a holiday-shortened week ahead, analysts said. Stock markets will remain closed on Wednesday for Ram Navami. "This week promises to be crucial for the market as fresh worries about a potential conflict between Iran and Israel emerge.
Tirole's insights show how real-world incentives are complicated, and contracts can be difficult to write and enforce.
Gold price outlook 2025: Gold prices that have climbed over 30 per cent so far in 2024 to Rs 7,300 per gram in the Indian markets (up 28 per cent in dollar terms till November-end), are set for their best calendar year performance in 10 years, suggests a recent report by World Gold Council (WGC). However, this stellar run, analysts believe, may not carry through till the end of 2025 in the backdrop of economic and geopolitical headwinds.
'In the new coalition government, India's reform agenda may prioritise job creation and factor market reforms.'
Indian economy is expected to grow 10.5 per cent or more in the current fiscal, Niti Aayog Vice Chairman Rajiv Kumar said on Thursday. Speaking at a virtual conference organised by the Public Affairs Forum of India (PAFI), he also said that modernisation of the retail sector is very much on the cards. "India Purchasing Managers' Index (PMI) for both manufacturing and services has shown a very smart uptick last month. "This (Indian economy) will strengthen even further," he said. "I expect Indian economy to grow 10.5 per cent or higher in FY 22," he noted.
The private sector's new project announcements in the quarter ending March were among the highest on record. The value of new private sector project announcements for the three months ending March 2024 was Rs 9.8 trillion, shows data from tracker Centre for Monitoring Indian Economy (CMIE). This is the second-highest on record in data going back to 2009.
NITI Aayog has not said what the reasons were for having achieved or not having achieved what was sought to be achieved, or what lessons can be learned for the future, points out Aakar Patel.
'While investors need to be prepared for making some losses, they should not lose big money chasing euphoria amid fear of missing out.'
The Centre for Monitoring Indian Economy has revised its GDP growth forecast for the current fiscal to 6.7 per cent from 6.2 per cent announced last month.
While conditions have improved over the last decade in western UP, there are still unfulfilled needs.
The Centre for Monitoring Indian Economy said sectors like machinery (with a weight of 18 per cent in the index for industrial production), chemicals (14.5 per cent), basic metal (12.4 per cent), rubber, plastic and petroleum products (11.8 per cent) and transport equipment (11 per cent) would be the growth engine for this year. The projection is based on analysis of projected capacity and expected capacity utilisation of major industries.
Extreme poverty in India declined by 38 million in 2021 to 167.49 million after a surge in the two preceding years, but remained above the 2018 level, the latest World Bank data shows. While for most countries poverty rose in 2020, when the Covid-19 pandemic hit the global economy, the data shows poverty shot up in India a year earlier in 2019 to 176.09 million from 151.79 million in 2018, the lowest pre-pandemic count. India's poverty rate at 11.9 per cent in 2021 also remained higher than the 2018 level of 11.09 per cent, though easing from 14.72 per cent in 2020.
Titan Company, Axis Bank, NTPC, Tata Motors, ITC, Tech Mahindra, Bajaj Finserv, ICICI Bank, HDFC Bank and Bajaj Finance were the other laggards. Bharti Airtel, Power Grid, Infosys and Larsen & Toubro were among the gainers.
Government announcements for the building of new roads, railways, and other capital expenditure (capex) projects may have hit an all-time low, according to numbers for the December quarter.
The Reserve Bank of India on Wednesday decided to keep the policy rate unchanged for the tenth time in a row but changed its stance to 'neutral' that may lead to a cut in the forthcoming policies. RBI maintained status quo despite the US Federal Reserve lowering the benchmark rates by 50 basis points last month.
Fresh formal job creation cooled for the second consecutive month to decline to a six-month low in September, signalling a downturn in the labour markets this financial year. The number of new monthly subscribers under the Employees' Provident Fund (EPF) declined by 6.45 per cent to 891,583 in September from 953,092 in August, shows the latest payroll data released by the Employees' Provident Fund Organisation (EPFO). Besides, the net payroll additions -- calculated by taking into account the number of new subscribers, the number of exits, and the return of old subscribers -- increased by 14.9 per cent to 1.72 million in September from 1.49 million in August.
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