The second wave of the pandemic in the country has derailed the recovery momentum of the domestic auto industry, which was poised for a comeback in the current fiscal after witnessing the two consecutive challenging years, ratings agency ICRA said on Thursday. Unlike the first wave where infections were largely localised to urban clusters, the second wave has seen deeper and wider penetration, including into rural hinterlands. Accordingly, outlook for various segments has been revised downwards, it said.
'India is in a slowdown which most of us have not seen in our living memory.'
Maintaining a rapid pace of the vaccination drive and quickly bridging healthcare infrastructure gaps across both urban and rural areas would emerge as the most sustainable stimulus for durable recovery of the Indian economy, says a report by the department of economic affairs.
New Delhi says existing food stocks will be sufficient to contain any food price shock.
Challenges abound but innovation is key for new banks inorder to survive.
We can hope that some of the benefits of the rural spending - on irrigation, roads, etc -- will spur rural demand and improve rural productivity, says P V Subramanyam.
We can hope that some of the benefits of the rural spending - on irrigation, roads, etc -- will spur rural demand and improve rural productivity, says P V Subramanyam.
We can hope that some of the benefits of the rural spending - on irrigation, roads, etc -- will spur rural demand and improve rural productivity, says P V Subramanyam.
The forthcoming budget needs to delay fiscal consolidation, instead should focus more on supporting the pandemic battered-economy and boost consumption demand by offering income tax soaps and cutting fuel taxes, says a report. In a pre-budget report, India Ratings said it expects the new budget to consolidate and strengthen the plan set out in the last budget, rather than trying out new things by continue with the revenue and capital expenditure pattern of FY'22 to provide stability and consolidation to the past/ongoing efforts, and to focus on boosting demand by generating employment opportunities in areas/sectors that have been impacted more by the pandemic. The report therefore expects the finance minister to delay fiscal consolidation and make it to be a gradual and calibrated process, thus ensuring the necessary fiscal support that the economy needs is available till the recovery acquires its own momentum.
'If you want it to grow well and serve the true needs of the economy, it needs a lot of freedom and flexibility, which comes in terms of the reform objective set by the regulator.'
The external environment has worsened further. While the Finnish economy entered into a recession, Swedish economic growth also dipped. The Finnish gross domestic product (GDP) dropped 0.6 per cent in October-December, 2022. It was the second quarter of negative growth, which is a technical definition of recession.
Online retail is increasing market share rapidly.
Operating margins decline to 10.3% in March quarter on one-time payouts but may recover to 12% in FY2015.
About 150 years ago, in British India, big farmers in the western region of Maharashtra agitated over unfair lending practices and demanded a more fair and inclusive financing structure. People say this is where the seeds of the cooperative movement, now omnipresent in the country, were sown. Today, more than 800,000 cooperative societies thrive in India, with 300 million members, a number close to the population of the United States. Despite a reach this deep--grass roots as they call it--cooperatives do not occupy a lion's share in the Indian economy.
Delay in demand recovery and higher stock valuations mean low safety margin, say analysts.
Despite giving an assurance of a peaceful demonstration, the protesters used sharp-edged weapons, the police said.
Hyundai Motor India expects its SUV range to gain further traction in the domestic market with demand for personal mobility gaining momentum post the second wave of COVID-19, according to a senior company official. The company, which already leads the SUV space with models like Venue, Creta, Tucson and recently launched Alcazar, is looking to maintain its lead in the segment which is growing with each passing month.
Data issued by Siam shows sale of PVs (cars, vans and utility vehicles) grew 14.3 per cent to 275,417 vehicles.
Maruti Suzuki India said its domestic sales rose 10.6 per cent in May.
If the real estate sector is properly managed, it could drive not just finance but demand for a range of products and services, observes T N Ninan.
Passenger vehicle (PV) retail sales rose to 184,134 units last month against 85,733 units in May this year as the COVID-19 situation improved across the country. According to the Federation of Automobile Dealers Associations (FADA), which collected vehicle registration data from 1,295 out of the 1,498 regional transport offices (RTOs), two-wheeler sales rose to 930,324 units last month as compared to 410,757 units in May.
A Nokia research showed that 4G alone constituted nearly 99 per cent of the total data traffic consumed across the country in 2020.
The Korean major, as part of its rural push, has begun an "attack district" project with focus on 80 key districts to increase sales of its TVs, refrigerators and washing machines
The health and family welfare ministry spent 70 per cent of its allocation till October. The ministry may need additional funds for the vaccination drive which is expected to be kicked off from January.
Navratri and Onam saw flat sales, but industry hopes to turn the corner with a cracker of a Diwali.
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
Kejriwal said the previous Congress government was called "20 per cent commission government" and the current Bharatiya Janata Party government "40 per cent commission government."
Speaking at the meeting called by the central government, Modi said India is in a better position than many other countries in terms of the ratio of the population hit by the disease but underlined the need to remain vigilant as he cited the resurgence of the infection in some countries like the UK, sources said.
A majority of the CEOs are expecting the economy to show growth in the next financial year on the back of rising consumer spending and a sharp turnaround in rural India.
The BSE Midcap and the Small-cap Index have run up 25.3 per cent and 31.3 per cent respectively over the past year. Valuations are no longer cheap, notes Sanjay Kumar Singh.
The police which are probing the matter on Bommai's instruction had arrested B R Naidu, the former chief of Congress' Karnataka unit social media team, on Wednesday night from his residence.
The Rs 1.5-trillion-a-year industry has ended the year with a 30 per cent fall in sales because after a steady recovery in the festive season, multiple factors dashed its hopes of revival at the end of the year.
FY16 saw the highest number of new product launches in a year from Maruti
Automobile dealers' body FADA said the Budget lacked immediate demand boosters for the automobile industry.
CII has also called for tax incentives for new health care projects and import duty relief for lifesaving equipment.
'The pipeline of new industrial projects is the best I've seen in the last 10 years, and it looks solid enough to sustain for at least a few quarters,' points out Naushad Forbes, adding, 'It is only when we get back to the same labour force participation we saw before Covid that the economy will have truly recovered.'
Various factors, including robust demand in rural markets and good response to new models, helped in driving the sales.
While consumers feel that petrol pinches directly, diesel hurts indirectly, as it is an input in almost all the goods and services we use.
Besides growing tech and digital enhancements, the firms are ramping up the hiring of more delivery partners and reinforcing existing Covid protocols.
A number of significant linkages between rainfall and economic outcomes have policy implications.
