After lagging behind other segments in the automotive (auto) space over the past few years, two-wheelers are expected to reverse their volume underperformance. After witnessing a 36.3 per cent volume decline over the 2018-19 (FY19) through 2021-22 (FY22) periods, the sector staged a recovery in 2022-23 (FY23), with volumes rising 17 per cent. While volumes are still a quarter lower than the FY19 peak of 21 million units, a double-digit growth trajectory is expected to prolong.
Rating agencies Crisil and Icra on Monday revised down their India growth projections for the current fiscal and the second quarter mainly due to the ripple effect of slowdown in global growth and mixed crop output. Crisil downgraded the India growth forecast by 30 bps to 7 per cent while Icra pegged the economic expansion at 6.5 per cent for the second quarter of FY2022-23. "We have revised down our forecast for real gross domestic product growth to 7 per cent for fiscal 2023 from 7.3 per cent, primarily because of the slowdown in global growth that has started to impact our exports and industrial activity.
India's economy continues to be robust, but downside risks such as rising crude oil prices, adverse weather conditions, and the global banking crisis outweigh the upside potential in gross domestic product (GDP) growth in the current financial year (FY24), the finance ministry said on Tuesday in its Monthly Economic Review for March. "We reiterate that downside risks to our official forecast of 6.5 per cent for real GDP growth in FY24 dominate upside risks," the review said. "Opec's surprise production cut has seen oil prices rise in April, off their lows of low-seventies per barrel in March.
Most of the 40 MLAs in the Shinde camp don't have enough legislative experience to conduct business in the House and so the first ministry expansion needed induction of veterans.
The session, which is likely to have around 20 sittings, would conclude ahead of Christmas.
'Limited spillovers' to Asia's third-largest economy, even as world 'perilously close' to recession.
According to a schedule of her five-day visit provided by her Trinamool Congress, Banerjee is slated to meet Modi at 4 pm on Tuesday.
The meeting came amid rumours that Shiv Sena is considering a patch-up with the Baratiya Janata Party, its ally of 35 years.
After a virtual meeting of the Opposition parties, where they stressed on unitedly moving forward to defeat the ruling Bharatiya Janata Party in the 2024 Lok Sabha polls, the leaders also put out an 11-point charter of demands before the government.
Trinamool Congress MP Derek O'Brien said the situation in Bihar is one of the reasons behind the Parliament session being cut short by the government.
Congress interim president Sonia Gandhi held a virtual meeting on Friday evening with leaders of 19 Opposition parties, including the chief ministers of some Opposition-ruled states, amid efforts to boost Opposition unity and evolve a common strategy against the National Democratic Alliance government.
The talk of an anti-BJP front got revived after leaders of various parties and prominent individuals congregated at Nationalist Congress Party chief Sharad Pawar's New Delhi residence last month.
'The Congress wants to deprive Modi another term in 2024 and for that they are ready to make any sacrifice.'
Trinamool Congress leader and West Bengal Chief Minister Mamata Banerjee on Tuesday said the unity of opposition parties will take shape on its own, sidestepping questions of her taking on the leadership role.
From Covid to climate change, Shankar Acharya's look at some of the trends and events that might shape 2022.
Condemning opposition MPs for attacking Harivansh, Joshi said the Congress and other opposition parties are frustrated with the rise of Prime Minister Narendra Modi and have lost their balance.
The chief minister still has time to repair the damage but he will have to act all-round, both at the government and party levels, suggests N Sathiya Moorthy.
Top gainers in the Sensex pack included Bharti Airtel, Tata Motors, IndusInd Bank, Kotak Bank, Hero MotoCorp, Asian Paints and PowerGrid, which rose up to 2.53 per cent.
'The day I took charge, the PM told me you do the following -- stop imports, talk to all stakeholders and involve them to make mining more industry-friendly without affecting the environment.'
Jal Shakti Minister Gajendra Singh Shekhawat has the task of bringing clean tap water to all households by 2024.
'Part A of the Budget was like it was written by somebody from the 21st century and Part B was written by somebody from the 19th century.'
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