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.
India's politicians need to do a better job of managing the economy: Inflation control, productivity improvement, etc, asserts T N Ninan.
Economic think tank NCAER fears that the Planning Commission's ambitious nine per cent growth target for the 11th plan may not be achievable.
Prime Minister Manmohan Singh on Thursday expressed confidence that the Indian economy, currently growing at an unprecedented 8 per cent for the third straight year, would expand by 9-10 per cent annually over the next five years.
RBI expected wholesale prices-based inflation, which is near the double-digit region now, to moderate over the next few months but warned of upside risks owing to firming global commodity prices, particularly oil.
Driven by an estimated 8.4 per cent growth in the fourth quarter, the economy is expected to grow by 7.1 per cent in the just-concluded fiscal and by a robust 9.2 per cent in the current financial year, the leading economic think-tank CMIE has said.
A summary of Friday's action in the Ranji Trophy matches across the country.
Economic think-tank NCAER has revised its projections for economic growth to 7.9 per cent for 2006-07, compared to 7.7 per cent made in April due to likely higher growth in industry and services sectors.
Sandwiched between demonetisation, GST and other smaller policy changes, Gross Value Added or GVA may be a more reliable measure of economic activity over the next few quarters.
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.
The government may soon give the green light to bilateral trade between Russia and India in their national currencies to avoid any trade disruptions, multiple people aware of the matter said. While the Department of Commerce has recommended the proposal, an announcement is likely to be made by the finance ministry after further deliberations between the Department of Economic Affairs and Department of Financial Services. "The finance ministry will take a call on how to peg the two currencies," a senior government official told Business Standard. In the past, the two nations have had rupee-rouble trade, and when such an arrangement is implemented again, it will bypass the sanctions imposed on Russia by the West.
'In auction economics, it is very difficult to retain everybody. We were aware of it...we will lose somebody. We will also get somebody in their place. Now, we have to get the best out of what we have.'
A summary of action from the Ranji Trophy matches played on Tuesday.
This comes at a time when the global recovery remains fragile and is expected to slow later this year as the impact of the fiscal stimulus measures wanes.
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.
The 19-year-old Bhaker, ranked No. 2, was pegged back by a technical glitch involving her gun after an impressive start saw her take one of the places in the top eight.
The Indian economy is likely to slow down a little to 7.6 per cent in the fiscal year 2006 and 7.8 per cent in 2007 as consumption and investment may get affected due to higher inflation, Asian Development Bank said on Thursday.
Various indicators make it amply clear that there are grave challenges facing the new government of Chief Minister Nitish Kumar, reports Indivjal Dhasmana.
Despite the possibility of the economy bottoming out, the investment cycle could remain weak for another couple of years and earnings downgrades should continue.
China's GDP growth this year is expected to be around 8.5 per cent, down from 9.2 per cent in 2011, as the economy slowed down due to declining exports and global downturn, the Asian Development Bank (ADB) said in its annual report.
Pakistan produced a fine bowling performance to restrict England to 248 for six despite a battling 71 from Paul Collingwood on the first day of the third Test on Tuesday.
While presenting the Union Budget to Parliament earlier this month, Finance Minister Nirmalal Sitharaman had raised fiscal deficit target to 3.8 per cent of the GDP from 3.3 per cent pegged earlier for 2019-20 due to revenue shortage.
Reserve Bank-sponsored professional forecasters on Monday scaled down India's growth projection to 4.8 per cent for the current fiscal from 5.7 per cent estimated earlier.
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.
In a bull-case scenario it sees the Sensex at 61,000 levels, while it's bear case scenario pegs the Sensex at 41,000 levels by December 2021.
Disney Star won the coveted IPL Indian sub-continent TV rights for a whopping Rs 23,575 crore, while Viacom18 grabbed the digital rights with a bid of Rs 20,500 crore at the media rights auction on Monday.
For every rupee in the government coffer, 70 paise will come from direct and indirect taxes, while the government will spend 23 paise towards the states' share of taxes and duties.
Forecasting 7.2 per cent GDP growth for the current fiscal, industry chamber CII on Tuesday stressed on sustainable development for alleviating poverty and employment generation in the country.
The Indian economy is likely to grow at 6.6 per cent in the current fiscal on the back of new investment proposals and additional capacity building by companies, economic think-tank CMIE said in a report.
Indian software and services export is estimated to have touched $17.2 billion in 2004-05, posting a 34 per cent growth in both rupee and dollar terms.
Australia, on their first tour of Pakistan in 24 years, finished day three 205 behind but scored freely after resuming on five for no loss.
An analysis of WHO data shows that most of the countries with an older cohort of population and higher in the development index had a lower excess mortality rate than India.
Indian economy to grow at 5.5 per cent in near term.
Pakistan rode on a stroke-filled 81 by one-down Muhammad Shehzad and a late cameo by Ahmad Khan
Weak demand from the poultry sector has resulted in a sharp decline in feed prices too, with both soybean and maize prices falling by nearly 25 per cent in the past two months. The poultry market consumes around half of soybean and maize production in India.
A Reserve Bank-authorised survey on Monday lowered the country's economic growth rate projection to 5.7 per cent for the current fiscal, down from 6 per cent estimated earlier.
Warne finished his career with 708 wickets in 145 Tests
With the Adani and Jindal groups and Mukesh Ambani-owned Reliance Industries joining the race to buy Videocon Industries' (VIL's) assets, lenders are expecting aggressive bids for VIL's consumer durables and overseas oil assets, which are to be sold in separate auctions. The entire asset sale exercise is expected to be completed in the next six months, said a banker. A promoter entity of Naveen Jindal-owned Jindal Steel and Power has also evinced interest in the second round of bids for VIL's consumer durable business. The deadline to submit bids for VIL's assets ended on February 2.
The dairy major is transforming into a full-fledged F&B and fast moving consumer goods (FMCG) player, reports Vinay Umarji.
