India will grow at around 7.4 per cent in 2022-23 and continue at the same pace in the next year as well, Union Finance Minister Nirmala Sitharaman said on Friday. Sitharaman said there are risks on the external front and this is not the right time to throw caution to the wind, and also assured exporters of all the necessary support from the government as they face the headwinds. Speaking at the FE Best Bank Awards event here, Sitharaman said global agencies like IMF and the World Bank have taken cognisance of the strengths of the Indian economy by saying that it will be among the fastest growing ones in the next two years.
'Companies with a strong business case and healthy balance-sheet should sail through and emerge more robust in the future.'
'Periods of high volatility are usually bad for mid-caps and this is something that has to be kept in mind.' 'Focus on quality is of paramount importance.'
In the Union Budget presented in Parliament by Finance Minister Nirmala Sitharaman, a total of Rs 1,52,369 crore has been set aside for capital expenditure that includes purchasing new weapons, aircraft, warships and other military hardware.
Half a dozen names are doing the rounds as replacement for Cyrus Mistry as the chairman of the Tata Group.
Information technology, not manufacturing or infrastructure, should be the focus of the government while implementing initiatives such as Make in India and Start Up India.
The automobile sector is considered a good indicator of economic health. It has a very long value chain, from primary materials, like metals, glass and plastic, to value-added high-end electronic components, specialised alloys, and software.
The vaccination rate needs to go up by three to four times, assert Ajay Shah and Amrita Agarwal.
'The government is encouraging consumption through fiscal spending in a bid to push up economic growth in the face of a slowdown in corporate investment and exports.'
The promise of a less suspicious government is surprising. What about the disconnect between the new business stance and earlier push to dictate the narrative in politics and public life, wonders T N Ninan.
He said COVID-19 can be a catalyst towards the adoption of digital technologies in health and education and drive change in a way that even venture capital funds have not achieved despite pouring billions in investments.
The Union home ministry has issued strict guidelines for the enforcement of the 21-day complete nationwide lockdown in the wake of the covid-19 pandemic, invoking the National Disaster Management Act which may result in imprisonment of up to two years for any violation. All government offices, the offices of state and Union territory governments, autonomous institutions, public corporations, commercial, private, industrial establishments shall remain closed, the guidelines issued by the ministry said.
Make in India campaign has huge potential.
Amazon
Mr Rahul Gandhi himself has given seven different prices in different speeches with regard to the Rafale, that is the 2007 offer.
NPA ratio declined to 3.4% of total loans outstanding, from 3.6% in the Jul-Sept quarter last year.
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Expressing concern over the investment and innovation environment in India, a top US trade official has said the recent set of economic reforms initiated by the country were not enough to return to the path of robust growth.
The Indian economy is rapidly normalising towards pre-pandemic activity levels, even as uncertainty exists about coronavirus mutations and repeated infection waves, industrialist Kumar Mangalam Birla said on Wednesday. Vaccination is picking up pace, which would improve India's resilience against a potential third wave, the chairman of Aditya Birla Group said while virtually addressing shareholders at the AGM of group firm UltraTech Cement Ltd. Moreover, various steps taken by the RBI and the government have helped in containing the economic disruptions of the pandemic, Birla added.
The former RBI deputy governor talked about the prospects of an economic revival, reforms in IMF, etc.
Most players are looking to invest anywhere between $500 million and $1 billion in new ventures in the next couple of years, said experts on this segment.
'At the heart of the strategic relationship between our countries are economic ties.'
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
'I'll give it to the vaccine manufacturers without guarantees, take the payment in advance and give me the supplies.' 'The moment you give me one lot of supply, I'll give you more.'
With several states taking steps towards unlocking and easing of restrictions amid a decline in COVID-19 cases, Prime Minister Narendra Modi on Monday cautioned people against any laxity and asserted that COVID-appropriate protocol is the 'most effective weapon' against an unseen adversary like coronavirus that keeps changing its form.
Close on the heels of Boeing's defence of India to the US International Trade Commission's investigation into India's trade, investment and industrial policies, IBM has also sprung to New Delhi's defence in an otherwise sea of criticism of India's violations of intellectual property rights, local content requirements, among other issues of concern to US business and industry.
In an interview with Shobha Warrier/Rediff.com, he talks about the economic policies of the Narendra Modi government and whether achche din is really coming.
'Much of the Socialism that we attribute to him actually came during Indira Gandhi's time,' says M J Akbar who believes that Nehru's convictions helped shape modern India.
The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks.
'Short term volatility is likely due to various factors, global and domestic; investors may use this as an opportunity to increase the allocation to equities.'
Modi govt must bring about reforms to kick-start big-ticket infra projects.
A rise in the number of daily COVID-19 cases and mortality has been observed in Assam, West Bengal, Odisha, Bihar and Jharkhand, indicating the pandemic is moving eastwards, the Union health ministry said.
The central bank, however, warned that the downside risks to growth could play out if global recovery slows.
Private consumption is looking up and will get better as the full effect of the good monsoon is felt on rural income, and the effect of the payout from the Seventh Pay Commission is felt on urban income, say Anis Chakravarty & Rishi Shah.
'The Indian economy and the Indian financial sector today remain resilient and much better placed.'
Among other things, the agenda is likely to focus on increasing private investment, employment generation and giving relief to the farm sector
Advantages are not being leveraged fully mainly because of lack of funds, say experts.
Fresh capital raised by companies by way of initial public offerings (IPOs) is set to hit a 14-year high, thanks mainly to Zomato's maiden offering. India Inc has raised about Rs 19,300 crore in fresh capital by maiden offerings, including the Rs 9,000 crore the food delivery company will raise this week, so far in 2021. The best year in terms of fresh fund-raise was 2007, when companies had raised Rs 32,102 crore. With Paytm planning to issue fresh shares worth Rs 12,000 crore, the domestic market looks set to surpass that tally this year.
'A month after assuming charge, Parrikar promised a policy within six months to "end or at least reduce" terrorist infiltration across the Line of Control.' 'However, infiltration continued apace, leading to high-profile terrorist attacks in Gurdaspur, Pathankot, and Uri.' 'During this phase, he made the controversial suggestion that India should fight terror with terror, hinting at supporting terror groups to strike in Pakistan,' observes Ajai Shukla.
The actual expenditure will only be marginally higher and hence, the multiplier effect will be muted.
The defence ministry took the decision to hold the biennial event as scheduled following inputs from major stakeholders including the domestic defence industry and global aerospace majors, official sources said.
