'We are looking at the Budget with the hope that it will address all issues even at the cost of exceeding the fiscal deficit target.'
China's covid crisis could provoke a raw material crunch for India's EV industry later this year.
Is the worst over for Indian banks? The past two years saw them ride on treasury trades as deposits soared and credit growth dipped sharply. Gross and net non-performing assets (NPAs) moved south, and the provision coverage ratio (PCR), capital buffers, and profitability indicators are back at pre-pandemic levels. So, what's the plot ahead?
The most serious recommendations to change the financial year came in the years preceded by deficient rainfall. The Jha committee was formed after droughts in 1979-80 and 1982-83, reports Rishika Pardikar/IndiaSpend.
The researchers analysed 2580,021 test results from nose and throat swabs taken from 384,543 participants aged 18 years or older between December 1, 2020 and May 16, 2021.
Measures that quickly boost demand and increase employment are needed to push up growth. Moreover, without announcing new planss, the government should strengthen schemes such as PM KISAN, MNREGA and programmes to build rural roads.
'They forget that denial of basic rights has helped create a big political void which is adding to a deepening alienation.' 'This creates a fertile ground for extremist elements and targeted killings which we are witness to once again.'
Addressing a virtual Downing Street press conference, Boris Johnson acknowledged the divided views on lifting all lockdown restrictions to declare that his update does not imply that the pandemic "is over".
If people can lobby me for making changes in policies that goes against the country's interest, I won't keep myself in this position, says the vice chairman of NITI Aayog.
Indian economy's growth is expected to be "below trend" even as neighbouring China and most of the developed nations are expected to see better prospects, according to Paris-based think tank OECD.
If imputed inflation for April and May is used, then you have inflation of over 6 per cent for two consecutive quarters, which is a worrying signal for the RBI.
'Without reviving employment, consumer confidence will not go up.'
Nearly 3.64 lakh educated and "semi-educated" youngsters had registered with employment exchanges across Gujarat till December 2021, according to state government data.
The change in the baseline for IIP and WPI, currently at 2004-05, is expected to bring in more accuracy in mapping the level of economic activity and calculating other numbers like national accounts.
India grew at 7.6% in 2015-16 and at 7.2% in 2014-15.
Public sector banks have lost nearly Rs 2.85 lakh crore on account of loan dues of 13 corporates even as the banks are used to bail out ailing financial institutions such as Yes Bank and IL&FS, United Forum of Bank Unions alleged on Monday. In a press release, UFBU's convener B Rambabu said the organisation calls for a two-day all India bank strike on December 16 and 17 protesting against Banking Laws (Amendment) Bill 2021 and opposing the Centre's alleged move to privatise PSBs. According to the statistics given by the UFBU, the 13 corporates' outstanding dues were at Rs 486,800 crore and it was resolved at Rs 161,820 crore resulting in a loss of Rs 284,980 crore.
The GDP always has a base year, which defines the composition of the economy in that year. As the composition changes, the base year needs to be revised regularly. Abhishek Waghmare explains how that is done.
The problem of unemployment is spread across the economy.
'Everyone confuses GDP to be a measure of output, when it is actually a measure of income.'
It's high time we now turn the popular question on its head -- when there is no growth in jobs for several years, how can the real GDP grow at 7 per cent per annum, says Mahesh Vyas.
If Nirmala Sitharaman does indeed present a 'never-before' like Budget on February 1, going by her promise, she would create a new benchmark for post-contraction Budgets, observes A K Bhattacharya.
NSO has pegged economic growth at 5 per cent in 2019-20 in its second advance estimates.
The new numbers show India's economic growth rate averaged 6.7 per cent during the Congress-led United Progressive Alliance regime as compared to 7.3 per cent under the present government. Previous numbers had put the average growth rate during the 10-year UPA rule at 7.75 per cent.
A total of 254 millionaires from India have used the so-called "golden visa" to settle down in the UK through a large investment into the country since the route opened in 2008, according to a new report released by a UK-based anti-corruption charity on Monday. Spotlight on Corruption said that Indians ranked as the seventh nationality of super-rich to have availed of the Tier 1 (Investor) Visa, adding up to 254 between 2008 and 2020. China topped the list at 4,106, followed by Russia (2,526), Hong Kong (692), the United States (685), Pakistan (283) and Kazakhstan (278) ahead of India.
His celebratory gesture on Thursday night marks a first for Downing Street, which annually sees the UK prime minister host a Diwali gathering and an Annakut, or spread of festive food, from London's Swaminarayan Mandir next door at No 10.
This is mainly due to GST impact on manufacturing and subdued farm output.
'In 2016, we had De-Mon and in 2017, we had GST.' 'The combined impact of these two started showing up in 2019 and 2020.' 'COVID-19 only added insult to injury.'
'The current economic contraction is certainly due to the lockdowns as a response to the pandemic, which is an act of God.' 'Nobody has seen such a thing in the last 100 years.' 'Saying that this was an act of mismanagement is largely incorrect'
In the manufacturing sector, output is expected to decline by about 70 per cent as only food-processing, and drugs and pharma industries are allowed to operate while other segments, such as engineering and metals, have shut operations.
The Supreme Court in its official communication called it "Truly, a historic day".
Finance secretary Ajay Bhushan Pandey on Sunday hinted that the government was working on another stimulus package but he refrained from giving a timeframe.
The April-June quarter GDP slipped to 7 per cent from 7.5 per cent.
The greatest disconnect lies in the estimates of industrial growth.
the GDP estimates incorporate new source data and modified compilation techniques
The economy has shown sharp resilience in the past and has also bounced back in good time. We could hence expect a similar trajectory next year, observes Madan Sabnavis, chief economist, CARE Ratings.
The First Advance Estimates of National Income, 2016-17 did not reflect the impact of demonetisation, effected on November 9 and are based on sectoral data for only seven months to October.
The rates of price rise in many services used by the common man, including hospital and nursing, cook, domestic help and bus (fare), among others, have also touched double digits during the last four years, putting a burden on disposable income.
Lalpura, who took over as the National Commission for Minorities (NCM) chairperson last week, asserted that his priority would be to dispel 'false narratives' fuelling insecurity among minorities.
The National Council of Applied Economic Research (NCAER) on Thursday lowered the GDP projection for the current fiscal to 4.7-4.9 per cent due to exchange rate depreciation.
Emphasising the effect of the potential COVID third wave on children, the report said the Indian Academy of Paediatrics found that there is no biological evidence that the current and the new Delta Plus variant will affect children more than adults.
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