India's GDP growth will slow down to 5.5 per cent in FY24 from the 6.9 per cent expected in the current fiscal 2022-23, a Swiss brokerage said on Wednesday. The slowdown was attributed to slowing global growth and tightening of monetary policies in the report by economists at UBS India. It said India will be among the "lesser affected economies" in the world, but made it clear that the world's fifth largest economy is not immune from global headwinds.
India's unabated tryst with Russian crude oil is slowly coming to an end. The time has come for Indian refiners to navigate, creatively, the choppy waters of the post-honeymoon period, and for Indian policymakers to take cognisance of the broader impact on India from the spillover of the Russian crisis - after Washington's warning to transgressors last week. Shipments from Russia to India have averaged over 1.8 million barrels a day since February, according to data from Paris-based market analytics firm Kpler. But much of the crude shipped to India was non-sanctioned because it traded below a price cap set by the US led G-7 nations in December.
Cristiano Ronaldo and Nani struck in quick succession early in the second half to fire Portugal to a 2-0 win over Wales in the first Euro 2016 semi-final on Wednesday. After a tense and tactical first half, Ronaldo broke the deadlock five minutes after the re-start when he leapt majestically to head Raphael Guerreiro's pinpoint cross into the net following a short corner.
"This Budget needs to come up with measures that balance the high inflation and sustainable growth. The continuing fiscal problems and revenue deficit will force the budget to take stringent revenue making measures including looking at introducing or extending the stimulus packages to boost revenues," said G Bala Reddy, chairman and managing director, ICSA India.
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Likely to set the ball rolling for Rs 1.72-lakh-cr projects today
Denmark's Viktor Axelsen and Japan's Akane Yamaguchi's dominance continued as they stayed on course for a second successive title.
Sindhu squandered a game lead to lose 13-21, 21-15, 21-13 to the second seed Tai Tzu
IMAGES from the soccer matches played across European leagues over the weekend.
As power generation across northern and western India bore the brunt of the coal scarcity, spot prices at IEX rose to Rs 10.8 a unit during August 25-27, compared with Rs 8.7 a unit on August 22.
The primary and immediate impact of a depreciating rupee is on the importers who will have to shell out more for the same quantity and price. However, it is a boon for the exporters as they receive more rupees in exchange for dollars. The rupee depreciation has wiped away some of the gains that would have accrued to India from international oil and fuel prices dropping to pre-Ukraine war levels.
India's current account deficit is expected to deteriorate in the current fiscal on account of costlier imports and tepid merchandise exports, according to the Finance Ministry's monthly economic review. The review released on Thursday by the ministry also said that global headwinds would continue to pose a downside risk to growth as crude oil and edibles, which have driven inflation in India, remain major imported components in the consumption basket. For the present, it said, "their global prices have softened, as fears of recession have dampened prices somewhat. This would weaken inflationary pressures in India and rein in inflation."
Both players have been timed among the fastest in the game, with top speeds of around 36.5kpm (22.6 mph), but it is how quickly they get there that makes them different.
The loss meant Mumbai City FC missed the chance to regain the top spot
India must integrate more with East Asia by getting into regional trade arrangements, lower its tariff walls, and improve the quality of its workforce, suggests T N Ninan.
Prannoy looked in good touch as he reeled off five points on the trot to zoom to a comfortable 11-4 lead. However, the Indian was guilty of missing the lines twice and also found the net, allowing Wang to cut the deficit to three points at 11-14.
In a populist move, the Congress government in Haryana on Friday announced to waive off Rs 1600 crore outstanding power arrears of farmers and rural consumers.
HDFC was the top gainer in the Sensex pack, climbing nearly 4 per cent, followed by PowerGrid, Sun Pharma, Tata Steel, Tech Mahindra and Bajaj Finserv. NSE Nifty surged 234.75 points to 17,401.65.
Voters can be relied on to punish a party which makes reckless promises without actually implementing them, asserts Virendra Kapoor.
Green rating of thermal power plants are way behind the global best.
The government's move to freely supply coronavirus vaccines to the states for universal inoculation and extend free rations to help the poor tide over the pandemic will only add an additional 40 bps of GDP to fiscal deficit, says a report, which also called for more transparent vaccine distribution plan for efficient vaccine allocation to the states.
India's economy is projected to slow to 6.5 per cent in the fiscal year starting April but will remain the fastest growing major economy in the world as it fared better in dealing with the extraordinary set of challenges the globe has faced, the Economic Survey 2022-23 said on Tuesday. India's gross domestic product (GDP) growth of 6.5 per cent in 2023-24 compares with an estimated 7 per cent expansion in current fiscal year (April 2022 to March 2023) and 8.7 per cent in the previous year. Like the rest of the world, India too faced an extraordinary set of challenges in tightening financial conditions and supply chain disruptions from a prolonged war in Europe but "withstood them better than most economies", the annual document detailing the state of the economy said.
Sensex plunges 322.39 points to over 1-month closing low of 27,797.01; Nifty tumbles 97.55 points to 8,340.70.
'The finance ministry and the RBI will never admit to the difficulties in the economy because if they do so, it will adversely impact the financial markets, etc.' 'They like to present a rosy picture that everything is fine and under control.'
Equity benchmarks Sensex and Nifty ended on a mixed note on Wednesday as the euphoria about the Budget fizzled out, with investors going for profit-taking ahead of the Fed interest rate decision. The 30-share BSE benchmark Sensex climbed 158.18 points or 0.27 per cent to settle at 59,708.08 after it trimmed most of the intra-day gains. During the day, it had zoomed 1,223.54 points or 2 per cent to 60,773.44.
Political parties and individuals cannot be prevented from making poll promises aimed at fulfilling the constitutional mandate and the term 'freebie' should not be confused with genuine welfare measures, the Supreme Court said on Wednesday.
Images from the action on Day 2 at the Australian Open.
Bhagwant Mann and Arvind Kejriwal are realising that it is not a cakewalk to run a full state that is plagued with a fiscal deficit and where emotions run high at the drop of a hat, observes Sudhir Bisht.
The panel's report also provides a range for fiscal deficit and debt path of both the Union and states and also recommended additional borrowing room to states based on performance in power sector reforms. Finance Commission is a constitutional body that gives suggestions on Centre-state financial relations. The report of the 15th Finance Commission was tabled in the Lok Sabha by Finance Minister Nirmala Sitharaman.
After a turnaround in performance by Indian equity markets since July that has seen the S&P BSE Sensex and the Nifty50 wipe out the year-to-date losses, analysts suggest investors start nibbling into stocks that are focused on the domestic economy. While they say intermittent corrections, led by policies of global central banks and other economic data, cannot be ruled out, analysts expect India's relative outperformance among global equity markets to continue as it looks better placed with a healthy economic recovery, and remains one of the fastest growing major economies. In this backdrop, Neeraj Chadawar, head of quantitative equity strategy at Axis Securities, believes that amid global slowdown, aggressive tightening by the central banks, and preference for domestic interests first (by the local government), export-oriented themes are likely to be muted or will deliver conservative returns in the near-term.
Observers say China should re-address its policies towards India or else it will continue to face flare-ups increasing the tensions between the two countries at a time China's increasing tension with the US over Taiwan and the South China Sea besides the downturn in the Chinese economy which is hit hard by the zero-covid policy.
Despite some sluggishness during 2009-10, the growth was largely on track during 2008-09 to 2012-13.
The Indian economy has "some bright spots and a number of very dark stains" and the government should target its spending "carefully" so that there are no huge deficits, noted economist and former RBI Governor Raghuram Rajan said on Sunday. Known for his frank views, Rajan also said the government needs to do more to prevent a K-shaped recovery of the economy hit by the coronavirus pandemic. Generally, a K-shaped recovery will reflect a situation where technology and large capital firms recover at a far faster rate than small businesses and industries that have been significantly impacted by the pandemic.
Friendlier government policies, greater demand and better supply of coal have fuelled investor interest.
Scotland's Scott McTominay grabbed another brace of goals as they stunned a much-changed Spain side to earn a deserved 2-0 victory in their Euro 2024 qualifier.
A fresh spell of heatwave is likely to begin over northwest India from May 7 and over central India from May 8, the India meteorological department said on Thursday.
The final production cost of RRR is estimated to be approximately Rs 525 crore (Rs 5.25 billion), a sum impossible to recover through theatrical collections, even if it was the biggest hit of all times, which it is not, explains Subhash K Jha.
Asian Paints was the top loser in the Sensex pack, shedding 2.66 per cent, followed by Axis Bank, HUL, Wipro, M&M, HDFC and Bharti Airtel. On the other hand, TCS, Infosys, L&T, Tech Mahindra and HDFC Bank were among the gainers.
The Kerala high court on Thursday asked the state government as to what steps can be taken to ensure the safety of citizens on the roads in the wake of a bus accident in Palakkad claiming nine lives, including five school students.
The Centre has decided not to give a go-ahead to the Par-Tapi-Narmada river link project following strong protests against it by tribals, Gujarat Bharatiya Janata Party president C R Paatil said on Tuesday.
FM brings these sectors under the knife in a final attempt to hit a tough fiscal deficit target
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