Union Minister Nitin Gadkari said opening of transport and highways will go a long way in instilling confidence among the public and cautioned towards maintaining social distance and adopting all safety measures like hand wash, sanitizing, face masks, etc while operating buses and cars.
The surge in export, domestic demand and public spending in infrastructure projects might revive private investment during 2017-18.
In the midst of huge job losses as a fallout of the coronavirus pandemic, Tamil Nadu Chief Minister Edappadi K Palaniswami has signed 17 MoUs for an investment of Rs 15,100 crores that aim to provide 47,100 jobs. But a clearer picture on where the projects stand will emerge only after the Covid-19 induced fear psychosis ends, to see if popular protests will derail them like they have done so many others, says N Sathiya Moorthy.
In the post-demonetisation phase, the govt's tax revenues have ended up soaring in November.
Private investment will respond only to sustainable reform.
The high-level panel also asked the government to work towards re-orienting subsidies in a targeted manner from the crop sector to the non-crop sector and redesign the electronic National Agriculture Market.
Market players say following the tax cuts, the market mood had changed from bearish to positive, which should help sustain the rally.
In the 2020-21 Budget, the prime minister and the finance minister are keen to stamp their narrative, after various rollbacks following the previous Budget, said top government sources. Besides the scheduled meetings, the sources said, the Prime Minister's Office is expected to hold several meetings with top secretaries and officials on various ongoing schemes, their performance and also how some of them could be tweaked for better results.
The Reserve Bank on Monday pitched for creation of a conducive environment for investment and faster clearances of projects to boost economic growth which slowed to a decade low of 5 per cent in the previous fiscal.
Of the six-member rate-setting monetary policy committee, five members voted for a 25 bps cut while one by 40 bps, the RBI said.
T N C Rajagopalan on the new year and new worries.
In one of the largest FDI deals in realty sector, global private equity Warburg Pincus will invest Rs 1,800 crore (Rs 18 billion) in Piramal Realty, which would use the funds to develop mixed-use projects in the megalopolis.
Gaurav Deepak has raised funds for about 100 new-age entrepreneurs.
'This will have a multiplier effect in generating more jobs.'
The actual expenditure will only be marginally higher and hence, the multiplier effect will be muted.
Falling sales since demonetisation has alarmed CEOs, who want to save cash till the economy recovers.
Barclays is not alone in trying to decide the best size and shape of its investment bank in a changed regulatory landscape.
In her fourth tranche of the economic package, she said commercial mining will be done on revenue sharing mechanism instead of the regime of fixed rupee/tonne.
While, projects, including Rs 23,000 crore Purvanchal Expressway, totalling Rs 60,000 crore have already been launched, the Yogi Adityanath government is fast paving the way for laying the foundation of the remaining projects before the general election dates are announced.
In a pre-Budget meeting with Finance Minister Nirmala Sitharaman, the corporate leaders highlighted several issues, including certain income tax matters which were coming in the way of mergers and acquisitions or slowing them down and roles that need to be played by state businesses to prosper at the ground level.
India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period, as per the National Statistical Office (NSO) data released on Thursday. India remains the fastest-growing major economy as China's GDP growth in the April-June quarter was 6.3 per cent.
The repo rate, at which the central bank lends to the system, will come down to 5.75 per cent after the cut.
Even today, many MFIs already distribute pension and micro insurance products to low-income households.
Income from renting of properties is taxed at a flat rate of 10%.
The Airbus C-295 can carry up to 71 troops, or 50 paratroopers with battle loads. It can ferry supplies to locations inaccessible to the IAF's heavy transport fleet.
'The Modi-Xi and Modi-Obama meetings, with an interval of just 12 days, are juxtaposed superbly at a crucial point in the prime minister's life. Can Modi carve out a win-win situation with the superpower and the emerging superpower at the same time?'
India will have to devise policies to ensure overall growth in FY16.
The increase in production will be from the existing mines.
In a move that may boost the Indian hydrocarbon industry and bring more investments into the sector, the Union Cabinet on Wednesday decided to give marketing freedom to domestic crude oil producers, allowing them to sell petroleum to any company in the local market. The move is set to be beneficial for major crude oil producers, such as state-run Oil and Natural Gas Corporation (ONGC) and Oil India, and private sector majors like Vedanta's Cairn Oil and Gas and Reliance Industries. As of May 31, India was dependent on imports for 86 per cent of its crude oil consumption; domestic production sufficed the remaining 14 per cent demand.
The banking sector in India is reeling under Rs 8 lakh crore of non performing assets (NPAs) or bad loans, of which PSU banks alone account for over Rs 6 lakh crore.
'We are at $2.7 trillion and 2024 is not far away.' 'The country will need to grow by 9% every year for 5 years continuously and raise the aggregate investment rate to 38% of GDP to achieve the government's target of turning India into a $5 trillion economy.' 'Given the fact that we are only growing at about 5% and our investment rates are only about 30%, it may take a number of years before we can reach that targeted level.'
'The fiscal deficit target of 3.9 per cent of GDP seems achievable.'
There will be many steps which will be taken outside the budget.
The larger virtue of maintaining fiscal credibility should not be unduly diluted by quibbles on the fiscal math, says Sajjid Chinoy.
China's economy grew 6.7 percent in the second quarter from a year earlier.
Critical of India's "poor" ranking in terms of investment climate, World Bank on Monday said the economy could grow by 2 per cent if it improves infrastructure, business regulations, labour and land laws.
Subdued exports remain an area of concern.
Exporters on Thursday demanded fiscal incentives, tweaking in customs duties on certain products and credit at affordable rates in the forthcoming Budget to boost exports and create jobs. In a pre-budget virtual meeting with Finance Minister Nirmala Sitharaman, the Federation of Indian Export Organisations (FIEO) said the depreciation of the rupee against the US dollar is affecting exports' competitiveness and the sector requires more support. "Creation of employment is the biggest challenge faced by the country...We would urge the government to provide fiscal support to units which provide additional employment in the export sector," the exporter's body said.
