A summary of Friday's action in the Ranji Trophy matches across the country.
The economists, who were surveyed, also felt it will take time for banks to make any further reduction in deposit rates
The Centre for Monitoring Indian Economy (CMIE) has lowered its growth forecast to 6 per cent, from 6.2 per cent projected earlier, for this fiscal, owing to the delay in recovery in industrial sector and the fall in mining, manufacturing and construction segments.
The Board of Control for Cricket in India (BCCI) has pegged the base price for the combined IPL media rights at Rs 32,890 crore, nearly double the Rs 16,347 that Star Disney paid five years ago. Experts say that at these levels, there does not seem to be any profit-and-loss logic at play. It is more about what premium broadcasting companies are ready to spend for market share dominance. They point out that due to competition, they expect the final price to hit Rs 40,000-50,000 crore.
Fiscal deficit for 2020-21 was at 9.3 per cent of the gross domestic product (GDP), lower than 9.5 per cent estimated by the finance ministry in the revised Budget estimates, according to the CGA data. Unveiling the revenue-expenditure data of the Union government for 2020-21, the Controller General of Accounts (CGA) on Monday said that the revenue deficit at the end of the fiscal was 7.42 per cent.
At a time when Apple delivered its flagship line of new products on schedule despite battling a year of supply-chain turmoil, India could account for at least 12 per cent of the free-on-board (FoB) value of Apple Inc's iPhones manufactured by its vendors globally by 2025-26 (FY26). The number represents a significant shift for the Cupertino-based company's over-dependence on China, where 95 per cent of its phones are still being made. India's growing importance can be seen from the fact that in 2021-22 (FY22) - the first year of the production-linked incentive (PLI) scheme (the scheme was extended by a year due to the pandemic) - the FoB value of iPhones made in the country was $1.75 billion, translating into less than 2 per cent of the global value.
The report said even though overseas demand will take some more time to revive, robust domestic consumption and rising investment would place the economy firmly on the growth trajectory.
If there was one event that made the month of August stand out, it was a strengthening of the dollar index to levels last seen only 20 years ago, as the Federal Reserve dispelled all doubts about its intention to continue raising interest rates. Predictably, most currencies suffered against the US unit, with the bulk of the losers belonging to the emerging markets pack. Amid the volatility, the rupee, however, has displayed significant resilience and fared much better than most of its peer currencies.
Tata Consultancy Services CEO and Managing Director S Ramadorai on Thursday felt merit alone should be the criteria for admitting candidates into institutes of higher education
Ishtiaq Ahmed Khan, a businessman, has donated the land for the 'Virat Ramayana Temple'.
Here are the key numbers to watch out for in the Budget for 2022-23, which is widely expected to boost spending towards policies that create jobs, boost manufacturing, helping rural and agri-economy and infrastructure creation. Sitharaman, who had in her first budget in 2019 replaced leather briefcase -- which had been in use for decades for carrying budget documents -- with a traditional red cloth 'bahi-khata', has spurt in tax collections to her aid in the budget that is expected to a spend-all budget.
A summary of action from the Ranji Trophy matches played on Tuesday.
The country's exports, which came under severe pressure due to the global slowdown after October 2008, had aggregated a shade lower than $13 billion in January 2009.
Adrian Luna's stunning goal was unable to earn Kerala Blasters victory as FC Goa fought back in a thrilling Indian Super League match which ended 2-2, at the Tilak Maidan Stadium, in Vasco, Goa, on Sunday.
Employees of the electricity department has launched a three-day strike in protest against privatisation.
The government on Wednesday said it will borrow Rs 7.24 lakh crore in the first half of 2021-22 fiscal to meet resources to perk up the economy hit by the coronavirus pandemic. According to the Budget 2021-22, the government's gross borrowing was estimated at Rs 12.05 lakh crore in the financial year beginning April 1. "In the Budget, we had announced that there would be a gross borrowing of Rs 12.05 lakh crore and net borrowing of Rs 9.37 lakh crore. "In the first half of 2021-22, we would be borrowing Rs 7.24 lakh crore, which is 60.06 per cent of the gross issuances," economic affairs secretary Tarun Bajaj said. He said the government would issue 2-year, 5-year, 10-year, 14-year, 30-year, and 40-year securities.
The Securities and Exchange Board of India (Sebi) has cleared the draft red herring prospectus (DRHP) of the state-owned Life Insurance Corporation of India (LIC). According to investment banking sources, the so-called final observations were issued by the market regulator on Tuesday evening. Following the market regulator's nod to the IPO papers, the insurer can launch its share sale. However, LIC may not launch its IPO immediately given the current volatile market conditions.
Finance Minister P Chidambaram on Tuesday said India's farm sector needs to grow by 3-4 per cent for the economy to sustain a high 8 per cent growth.
The central government is likely to exceed the budgeted tax collection target of Rs 22.2 trillion for the current fiscal year, led by better indirect tax mop-up, compliance measures, and recovery in most sectors following the second wave of the Covid pandemic. Personal income and corporate tax collections (net of refunds) grew 74 per cent to Rs 5.70 trillion in the first half of the current financial year, driven mainly by advance tax and TDS payments. The target for the current fiscal year is Rs 11.08 trillion; higher taxes are paid usually towards the end of a fiscal year.
India's politicians need to do a better job of managing the economy: Inflation control, productivity improvement, etc, asserts T N Ninan.
Ahluwalia's assessment of economic growth is marginally higher than 6.3 per cent projected by the Commission earlier.
The commission in its recent assessment of the economy also expects economic growth to go up to nine per cent in 2011-12, and further to 10 per cent in 2014-15.
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.
RBI in its monetary policy forecasts the economy would grow at 6 per cent with an upward bias this fiscal, a rate that's in tandem with the Prime Minister's Economic Advisory Council Chairman C Rangarajan's projection of 6 to 6.5 per cent.
India's domestic passenger traffic slipped to a 10-year low at an estimated 53.4 million in the just-concluded financial year, a report said. However, in the previous fiscal there were no passenger flight operations for almost two months due to the pandemic-induced lockdown. During the financial year 2010-11, all domestic air operators together had flown a total of 53.8 million passengers on local routes, according to ratings agency ICRA. The domestic passenger traffic in March 2021 has been estimated at around 77-78 lakh, a marginal decline of about 1 per cent over February during which airlines had flown around 78.30 lakh passengers, it said.
The UN World Economic Situation and Prospects 2014 report said a mild recovery in investment as well as stronger export growth will help in the gradual GDP pick-up.
In absolute terms, revenue receipts stood at Rs 9.07 lakh crore at the end of October. For the entire 2019-20, the revenue receipts have been pegged at Rs 19.62 lakh crore.
The finance minister said the early signs of improvement in the Indian economy are seen despite no big recovery visible in the global economy.
The country's current account deficit is likely to hit a three-year high of 1.8 per cent or $43.81 billion in FY22, as against a surplus of 0.9 per cent or $23.91 billion in FY21, a report said on Thursday. According to an assessment by India Ratings, the Current Account Deficit (CAD) has moderated to $17.3 billion or 1.96 per cent of GDP in the fourth quarter of FY22 as against $8.2 billion or 1.03 per cent in the year-ago period, and massively down from $23.02 billion or 2.74 per cent in Q3, which was a 13-quarter high. The improvement in the key numbers are due to the remarkable improvement in merchandise exports in FY22, when it grew 42.4 per cent as against a negative 7.5 per cent in the pandemic-hit FY121.
Undeterred by the stock market volatility, uncertainty due to the Ukraine-Russia war and high inflation, equity mutual funds continue to remain attractive choice for investors for the 15th straight month, registering a net inflow of Rs 18,529 crore in May on robust SIP numbers. This was higher than Rs 15,890 crore net inflow in April, data from the Association of Mutual Funds in India (AMFI) showed on Thursday. Equity schemes have been witnessing net inflow since March 2021, highlighting the positive sentiment among investors.
Various indicators make it amply clear that there are grave challenges facing the new government of Chief Minister Nitish Kumar, reports Indivjal Dhasmana.
England pace bowler James Anderson took two wickets in 14 deliveries to reduce Australia to 348 for 4 at lunch on Day 3 of the first Test against England.
China has set a gross domestic product growth target of around eight per cent in 2005, much lower than the searing 9.5 per cent achieved last year, while striving to ensure sustainable economic growth, employment generation, curbing inflation and soc
The central bank also asserted that the country is ready for the tapering of the US Federal Reserve's bond purchases.
State Bank of India is likely to show a credit growth of about 19 per cent for the current fiscal ending March 2005 on the back of buoyant economy.
Buoyed by the upbeat performance of the manufacturing sector, including metals, Centre for Monitoring Indian
The chipset accounts for over 25%-30% of the cost of an average smart phone. Hence, a reduction in its price, device makers say, will make a huge difference to the cost of a phone.
With prices of fuel, sugar and metal products likely to remain high, the Centre for Monitoring Indian Economy on Tuesday raised the inflation forecast for 2004-05 to 6.5 per cent from the earlier estimate of five per cent.
Indian plants -- who plan to begin production with 28 nano metre chips -- will take two to four years to get off the ground. By that time, in the fast changing world of chip making, the global market would have shifted to 22 nm.
The same rating agency, however said India's GDP growth rate would go below 7 per cent in the current fiscal from 8.5 per cent a year ago.
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