Asian Development Bank on Thursday pegged India's economic growth at 7.4 per cent for 2004 and said high growth is likely to be sustained in medium term.
India has logged 5,335 fresh coronavirus cases, the highest in 195 days, while the active cases have increased to 25,587, according to Union health ministry data updated on Thursday.
Expressing optimism over the developments in the economy, Reserve Bank of India on Monday pegged the GDP growth for 2004-05 in the range of 6.5-7 per cent
Kuldeep Yadav is the best spinner going into the World Cup and will give India a distinct advantage in the middle overs through the course of the 50-over showpiece, reckons former Pakistan captain Intikhab Alam.
Shardul Thakur's better batting ability compared to speedster Prasidh Krishna could prove to be decisive while selecting the extra pacer for World Cup but both are likely to be auditioned if India pick a 17-member squad for the Asia Cup, which is set to be named on Monday.
rediffGURU Anu Krishna offers advice on how to take control of your life and relationships.
Lakshya Sen fought hard before going down in three games against fifth seed Jonatan Christie of Indonesia in the semi-finals of the Japan Open.
It was August 2007. Tata Steel was turning 100. Jamshedpur, its hometown, had an air of celebration. The line-up for the special event included the launch of Air Deccan's commercial flight connecting Kolkata and Jamshedpur, and release of Russi Lala's new book, Romance of Tata Steel. There was also the screening of The Spirit of Steel, a 20-minute documentary directed by Zafar Hai showcasing Tata Steel's legacy, and a corporate anthem penned by Javed Akhtar and composed by Shankar, Ehsaan and Loy.
The stock of LTIMindtree finished at Rs 5,001 a piece on Monday, which means it is down about 5 per cent from its all-time high as its June quarter results for the 2023-24 financial year (Q1FY24) missed estimates. A cautious note by the management, coupled with the fact that it will miss its double digit revenue growth target for FY24 weighed on the stock price. The company delivered revenues of just over a billion dollars in the quarter with constant currency growth of 0.1 per cent.
The government plans to borrow a record Rs 15.4 lakh crore from dated securities in FY24 to meet its expenditure requirement to prop up the economy.
The Indian economy can contract by 7.7 per cent in current financial year ending on March 31 and the growth could be 11 per cent in the next financial year, according to the Economic Survey tabled in Parliament by Finance Minister Nirmala Sitharaman. The contraction in FY21 is mainly due to coronavirus (Covid-19) pandemic and the visible damage caused by the subsequent countrywide lockdown to contain it. The survey unveiled two days before the Union Budget is broadly in line with forecasts by the Reserve Bank of India (RBI) which has said it expected the country's GDP to contract by 7.5 per cent in the year ending March 31.
The death toll stands at 5,30,748 with one death reported by Uttar Pradesh and one reconciled by Kerala, the data updated at 8 am stated.
The death toll stands at 5,30,745, the data updated at 8 am stated.
Citing the sharp rise in food prices, economists at a foreign bank have forecast a steeply higher retail inflation print for July, pegging it at 6.7 per cent, up 190 basis points from the previous month. Deutsche Bank India economists led by chief economist Kaushik Das, in a report on Monday ahead of the monthly inflation print and the Reserve Bank's monetary policy review, said that the July consumer price-based inflation index (CPI) is likely to print at 6.7 per cent on-year as against 4.8 per cent in June. The Reserve Bank is widely believed to leave the key interest rates unchanged for the fourth time in its upcoming bi-monthly monetary policy decision on August 10.
India will hope for better weather and a chance for the team's young batters to show their mettle in Sunday's second T20 International against Ireland in Dublin.
India's third-largest pharmaceutical company by revenue, Cipla, is up for grabs in a three-way fight between Torrent Pharmaceuticals, Dr Reddy's Laboratories (DRL) and private equity (PE) giant Blackstone. Analysts say it is more likely for a strategic investor like Torrent or DRL to acquire Cipla than a PE firm, which may not derive healthy returns at Cipla's current market price (CMP) after the recent gains.
The death toll stands at 5,30,750 with two deaths reported by Uttar Pradesh in the last 24 hours, the data updated at 8 am stated.
Retail inflation rose to three-month high of 4.81 per cent in June, mainly on account of hardening prices of food, according to the government data. Inflation based on the Consumer Price Index (CPI) stood at 4.31 per per (revised upward from 4.25 per cent) in May and 7 per cent in June 2022. The inflation, however, remains within the RBI's comfort level of below 6 per cent.
India saw a single-day rise of 89 coronavirus infections, while the active case count came down by three to stand at 1,931, according to the Union health ministry data.
Stating that the forthcoming elections will delay the reform process and hurt growth, international rating agency Moody's on Monday said it expects growth to pick up to only 5.5 per cent in FY15.
Indian-American multimillionaire biotech entrepreneur Vivek Ramaswamy's popularity rating and online fundraising have surged, a day after his impressive performance at the first Republican presidential primary debate.
Insurance companies may soon face goods and services tax (GST) audits as tax authorities plan a "deep dive" into their business practices to check for the possibility of a raft of tax-linked irregularities. Several insurance companies are being probed for wrongly availing of the input tax credit without the underlying supply of goods and services based on fake invoices generated by their channel partners and intermediaries. "We want to deep dive into the overall business and see if there are further taxation issues besides commissions, which are already being investigated," a senior official of the Central Board of Indirect Taxes and Customs said.
Edtech major Byju's is growing slowly but sustainably and is close to achieving profitability at the group level, the company's CEO Byju Raveendran said on Thursday. The company organised a town hall with Raveendran to allay apprehensions about the uncertainty around the company's growth and its future. According to sources, who attended the town hall, Raveendran said that issues with $1.2 billion Term Loan B lenders are being resolved through discussion and hopeful of a positive outcome in the next few weeks without the court's intervention.
On March 13, Minister of State for Finance Pankaj Chaudhary had tabled the second batch of supplementary demands for grants in the House amounting to a total of Rs 2,70,508.89 crore.
Education finance is a complex and dynamic sector. There are too many variables -- the course, the calibre of students, the universities, and the job prospects once the course is over, notes Tamal Bandyopadhyay.
Satwiksairaj Rankireddy and Chirag Shetty staged a grand comeback after losing the opening game to beat top seeds Fajar Alfian and Muhammad Rian Ardianto of Indonesia in the final and win the Korea Open Super 500 badminton tournament, in Yeosu, on Sunday.
The daily positivity was recorded at 0.10 per cent while the weekly positivity was pegged at 0.09 per cent.
Both Punjab Kings openers were handed lifelines by the Rajasthan Royals in Guwahati on Wednesday.
The defence budget was increased to Rs 5.94 lakh crore for 2023-24, up from last year's allocation of Rs 5.25 lakh crore.
Finance Minister Pranab Mukherjee might aim for a fiscal deficit of 6.1 per cent of the GDP for the year 2010-11, although he has been stressing on the need to keep fiscal deficit at 5.5 per cent of the GDP in 2010-11 and 4.0 per cent in 2011-12. The current year's fiscal deficit is estimated to be at 6.8 per cent levels.
The economy is expected to throw up better numbers in the September quarter with GDP contraction of 9.9 per cent, as against 24 per cent in Q1 at the onset of the pandemic, says a report. The government will release the Q2 GDP numbers later this month. In the first contraction since 1980, the economy shrank a full 23.9 per cent in the first quarter of the fiscal after the whole nation was put under a strict lockdown.
Parliament has approved a gross borrowing for Rs 7.1 lakh crore for the entire 2019-20 fiscal.
The collapse of Silvergate Bank, Silicon Valley Bank (SVB) and Signature Bank in the US might create temporary liquidity issues but will not have any significant impact on the Indian crypto market in the long run, officials from several exchanges told Business Standard. All three banks are considered crypto-friendly. SVB offered services such as cryptocurrency custody and lending.
The initial public offering of the country's largest insurer LIC will open on May 4 and close on May 9, sources said. The IPO, through which the government will sell 3.5 per cent stake in state-owned Life Insurance Corporation (LIC), will fetch Rs 21,000 crore to the exchequer. The IPO values LIC at Rs 6 lakh crore.
Rising crude oil prices and muted passenger traffic in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24) have raised concerns about the profitability of listed aviation players. These two concerns have caused the stock of InterGlobe Aviation (IndiGo), the largest player in the sector, to slip by 11 per cent since its highs at the end of July. Nuvama Research expects yields to cool down in the near term due to seasonality, rising crude oil prices, and higher capacity.
For every rupee in the government coffer, 58 paise will come from direct and indirect taxes, 34 paise from borrowings and other liabilities, six paise from non-tax revenue like disinvestment and two paise from non-debt capital receipts, according to the Budget documents for 2023-24.
Economies of Punjab, Andhra Pradesh, Madhya Pradesh, Uttarakhand and Haryana may have grown at a slower pace than the national economy during 2022-2023.
S&P Global Ratings on Wednesday cut India's growth projection for the current fiscal to 7.3 per cent from 7.8 per cent earlier on rising inflation and the longer-than-expected Russia-Ukraine conflict. In its Global Macro Update to Growth Forecasts, S&P said inflation remaining higher for long is a worry, which requires central banks to raise rates more than what is currently priced in, risking a harder landing, including a larger hit to output and employment. S&P had in December last year pegged India's GDP growth in the 2022-23 fiscal, which began on April 1, 2022, at 7.8 per cent.
A personal tragedy led Boby Singh Dhami to pick up the hockey stick; and looking back, he believes everything happens for a reason.
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