Cascading effect of rising raw materials will result in inflation, high rates, slow capex
The rising COVID-19 infections across the country are a matter of concern, but it may not impact the ongoing economic revival as one does not foresee lockdowns, Reserve Bank Governor Shaktikanta Das said on Thursday. The economic revival will continue "unabated", Das said, asserting that there is no need for a downward revision of RBI's 10.5 per cent GDP growth forecast for FY22. Speaking at Times Network's India Economic Conclave, Das said, "We have 'insurance' to protect economic revival like a fast-paced vaccination drive, greater ability among people to follow COVID protocols", and one does not see lockdowns as well.
The state has not touched diesel prices, fearing losing revenue to neighbouring states
Asserting that the self reliant India programme will help revive the global economy, Prime Minister Narendra Modi on Thursday told global business community that his government aims to transform the country through access, inclusion and empowerment while also ensuring complete data security. Addressing the World Economic Forum's online Davos Agenda Summit, where he also interacted with global business leaders, Modi also said India offers a predictable and friendly environment from tax regime to FDI norms. He said Aatmanirbhar Bharat movement is committed to global good and global supply chain while the country's digital profile has been completely transformed.
One of the reasons is the increasing number of upgrades in analysts' recommendations.
Military officer Trilokchand Raina's mastery at making bombs in an ordnance factory was only getting him a measly salary of rupees ten thousand a month. Not enough to give wings to his son Suresh's cricketing dreams. But, more than two decades after those days of struggle, riding hard work, determination and luck, Raina ended his professional career as an international cricketer recently with plenty of success.
The broader NSE Nifty too reclaimed the key 11,500-mark. It touched a high of 11,562.25, before finally settling at 11,536.90, showing a gain of 59.95 points, or 0.52 per cent.
NIIT Technologies continues to show resilience despite the weakness in the West. The tier-2 IT services company reported sustained order flows and employee utilisation as well as moderate attrition rates for the June 2012 quarter. CEO Arvind Thakur about how they are surviving the slowdown.
The argument supporting organic food is simple. Organic agriculture uses techniques that focus on land and soil health and thus towards a balanced eco-system.
Experts point to the bitter experience of countries including Mexico, Thailand, South Korea and Russia and desist from going forward with plans of issuance of such securities. They say rather than going abroad, the country should increase participation of foreign investor in the government securities which does not have any forex risk.
The next step is the charter, which aims to safeguard consumer rights and address criticism about the government not doing enough for passengers.
India plans to phase in cash transfers of food and kerosene subsidies from September, saving 10-15 per cent of the $21 billion in annual outlays on the benefits by eliminating fraud, a senior finance ministry official said on Thursday.
A one rupee per litre cut in taxes would result in revenues being hit by Rs 30,000 crore on an annualised basis.
Zomato has the potential to be an equally important milestone for Indian equity markets, notes Akash Prakash.
Modi campaigned on the issue of national security, which cannot be ensured without a strong economy.
At a time when software companies were reporting disappointing results on account of this, an unperturbed Chatterjee said Tata Steel would reap significant benefits from the new exchange rate, which would be disclosed with its results.
India, which appears to have been pushed back to being the world's sixth biggest economy in 2020, will again overtake the UK to become the fifth largest in 2025 and race to the third spot by 2030, a think tank said on Saturday. India had overtaken the UK in 2019 to become the fifth largest economy in the world but has been relegated to 6th spot in 2020. "India has been knocked off course somewhat through the impact of the pandemic. "As a result, after overtaking the UK in 2019, the UK overtakes India again in this year's forecasts and stays ahead till 2024 before India takes over again," the Centre for Economics and Business Research (CEBR) said in an annual report published on Saturday. The UK appears to have overtaken India again during 2020 as a result of the weakness of the rupee, it said.
Staggered pull-out will help investors if the market continues to rise.
The RBI has cut key rates to boost the economy.
The report by the High Level Advisory Group said India stands to benefit even more when the US and China are locked in a global trade war.
The revised structure will help to keep airfares down, when airlines already face a triple challenge of rising crude oil prices, rupee depreciation and constrained airport capacity.
Fridge, washing machine, and paint makers are expected to cut prices shortly, while TV, aircon, and sanitary napkin makers are a disappointed lot
Government officials have lodged FIRs and slapped fines to the tune of Rs 1 crore on hospitals involved in frauds.
Euro fell from the 83-mark to around 67.
It became increasingly clear that the real negotiations the government had to conduct were with Indian business which was wary of yet another free trade agreement, points out T N Ninan.
'This government is so fond of some corporate friends that they can always amend existing laws or make new laws.'
'If the RBI now only prints Rs 100 in small denomination notes and the remaining amount is printed in Rs 500 and Rs 2,000 denominations, then by March-end the central bank can completely normalise the cash crunch situation.'
He said digitisation was aimed at bringing in accountability and added that more cash would bring with it social evils.
BSNL also reduced monthly rentals from Rs 225 to 180 besides doubling the free calls to 50 calls a month.
Bangladesh might overtake India this year by per capita income in nominal dollars, but it is not yet close to becoming South Asia's economic powerhouse anytime soon, T N Ninan points out.
Branding Trinamool Congress rebels as 'traitors' like Mir Jafar, West Bengal Chief Minister Mamata Banerjee on Friday took a swipe at the Bharatiya Janata Party for fielding the turncoats in the polls leaving saffron party old-timers shed tears.
Axis Bank emerged as the biggest gainer in the Sensex pack, surging 6.62 per cent, followed by SBI at 5.88 per cent.
The ATMs will open on Friday and at many places they will open on Thursday, he said.
The exchange, say sources, began mock trading from early October and around 250 Indian brokers have said they'd take membership of the international exchange.
As of now, tankers carry petroleum products from India to Nepal as part of an arrangement which is in place since 1973.
Earnings growth is unlikely to see much recovery and sales revenues are also likely to remain muted
'If one believes that the Indian stock market will go up 70 per cent every year for the next 10 years, I wish you good luck!'
'If such inflows materialise, what will be the effect on the rupee's value -- and therefore on exports growth, the only sustainable path to recovery?', asks Mihir S Sharma.
Sun Pharma was the biggest gainer in the Sensex pack, advancing 1.79 per cent.
