India appears poised to sustain its growth in a more durable way than before with the economy carrying the momentum from FY23 into the current fiscal year, the Annual Economic Review for 2022-23 released by the finance ministry on Thursday said. However, the report cautioned that escalation of geopolitical stress, enhanced volatility in global financial systems, sharp price correction in global stock markets, a high magnitude of El-Nino impact, and modest trade activity and FDI inflows, are factors that could constrain the pace of growth. "Should these developments deepen and dampen growth in the subsequent quarters, the external sector may challenge India's growth outlook for FY24," the finance ministry said.
Seemingly expressing his displeasure against ministers demanding three more deputy chief minister posts in Karnataka, state Congress president D K Shivakumar on Tuesday said the party would respond to them appropriately.
'There is also a possibility that Andhra Pradesh may demand a similar package. But as of now, we are only working on a package for Bihar.'
'No political party can antagonise Ambedkarite voters, particularly the neo-Buddhists.'
NEET is a court-ordered examination, supposedly aimed at meritocracy. However, over the past years when the incumbent Narendra Modi government at the Centre began implementing it, it took on political and casteist colours, observes N Sathiya Moorthy.
Automobile retail sales increased 9 per cent year-on-year in June quarter FY25 with all segments, barring tractors, reporting growth, dealers' body FADA said on Monday. Overall retail sales rose to 61,91,225 units in the April-June period from 56,59,060 units in the same quarter of FY24. Passenger vehicle retails increased 2.53 per cent to 920,047 units as against 897,361 units a year ago.
Had you invested Rs 10,000 each in JSW Steel, Titan Company and Bajaj Finance 20 years ago, when they were just penny stocks (trading below Rs 10), you would have become a millionaire by now.
Government's focus on infrastructure is the biggest positive for the Indian economy, followed by the improvement in tax collections and good consumption recovery.
Gold prices this year are higher than last year, and the goods and services tax is an additional burden for consumers
India's largest two-wheeler maker by volume - Hero MotoCorp (Hero) - posted a better-than-expected operating performance in the January-March (fourth quarter, or Q4) quarter of 2022-23 (FY23). Riding on higher average selling prices which were up 5 per cent year-on-year (YoY) and volume growth of 7 per cent, the company registered a 12 per cent growth in revenue to Rs 8,306 crore. The company sold 127,000 units in the quarter, largely driven by domestic sales which were up 11.6 per cent, while exports saw a sharp fall of 57 per cent over the year-ago quarter.
FMCG sector analysts say that due to excise free zones, impact of the excise duty hike will be limited, except for Hindustan Lever. The sector wants impetus for rural income generation and no hike in service tax.
Karnataka Chief Minister Siddaramaiah on Thursday held discussions with his cabinet colleagues in the wake of the Governor Thaawarchand Gehlot reportedly issuing him a 'show-cause notice', seen as a precursor to sanctioning his prosecution in the alleged Mysuru Urban Development Authority (MUDA) site allotment 'scam'.
It's all eyes on the consumer durables sector during the festival season after a weak Q1FY24 and Q2FY24 was impacted by an erratic monsoon. Traditionally, this period sees the highest number of purchases. Dealers and manufacturers are complaining about low business-to-consumer (B2C) off-take during the first half.
An increase in the farmer income support scheme PM Kisan Nidhi, the introduction of a 'robot tax' to fund reskilling of people who lose their jobs to artificial intelligence (AI), and a reduced income-tax (I-T) to bring relief to the middle classes - these are some of the items in the Budget wish list submitted by Sangh Parivar affiliates to Finance Minister (FM) Nirmala Sitharaman. Representatives of the affiliates of the Rashtriya Swayamsevak Sangh (RSS), such as the farmer organisation Bharatiya Kisan Sangh (BKS); trade union Bharatiya Mazdoor Sangh (BMS); Laghu Udyog Bharati, which works for micro and small industries; and Swadeshi Jagran Manch (SJM), which works on economic and policy issues, met the FM and other officials over the last couple of weeks as part of the pre-Budget consultations.
'If you look at the average age of all our candidates, you will notice that their average age is between 35 and 40. It is a kind of revolution that the MNS is bringing in Maharashtra.'
Companies like Flipkart, Amazon and Meesho as well as quick commerce ones like Blinkit, Zepto and Swiggy Instamart may create hundreds of thousands of seasonal jobs for the coming festival season.
An 'illegal' structure near trainee Indian Administrative Service (IAS) officer Puja Khedkar's family bungalow in Pune has been cleared, days after the civic body issued them a notice to remove it, an official said on Wednesday.
The supplementary demands for grants include a gross additional spending of over Rs 2 lakh crore, which would be matched by savings of over Rs 1.21 lakh crore.
Finance Minister Nirmala Sitharaman on Tuesday announced income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled the Modi 3.0 government's first budget after the general elections.
'When there are no good roads and no buses plying to villages, your spending on development is skewed.'
Finance Minister Nirmala Sitharaman is likely to step up efforts to boost consumption and rural economy while keeping inflation under check when she presents her sixth straight Budget on February 1. Experts said one way to boost consumption is to put more money in the hands of people, and one of the possible ways of doing it is by reducing the tax burden through tinkering with tax slabs or increasing the standard deduction. Another proposal is related to increasing the funds under the rural employment guarantee scheme MGNREGA and higher payout for farmers.
Passenger vehicle sales are expected to experience muted growth in the current financial year.
Around 40 per cent of the country is staring at drought-like conditions ahead of the monsoon as water levels have receded sharply.
If everything goes according to the plan, the exercise will begin after the Lok Sabha elections, the official said.
Enthused by higher than expected GDP numbers in the fourth quarter of 2022-23, Chief Economic Adviser (CEA) V Anantha Nageswaran on Wednesday said India's economic growth may exceed the initial estimate of 6.5 per cent in the current fiscal and the country can look for another year of solid economic performance.
The Reserve Bank of India (RBI) has identified "climate shocks" as a risk to food inflation rates and overall price rise while stating that the outlook for the country's economic growth remains bright. In its Annual Report for 2023-24, released on Thursday, the central bank said easing supply-chain pressures, broad-based softening in core inflation, and early indications of an above-normal southwest monsoon meant well for the inflation outlook in 2024-25. "The increasing incidence of climate shocks, however, imparts considerable uncertainty to the food inflation and overall inflation outlook," said the RBI while noting headline inflation moderated by 1.3 percentage points on an annual average basis to 5.4 per cent in 2023-24.
'We are very quickly going to announce the timeline of our launches, which should start giving us the turnaround'
Anshu Kumar, 21, son of government school teachers from a village in Bihar, won the President's Silver Medal at the NDA. He commanded the grand passing out parade and will go on to join the Indian Navy.
Automobile retail sales in India rose to a record high in November, aided by the best ever monthly performance across passenger vehicle and two-wheeler segments, dealers' body FADA said on Wednesday. The overall retail sales stood at 28,54,242 units last month, 18 per cent higher over 24,09,535 units in November 2022. Passenger vehicle (PV) retail sales rose to 3,60,431 units as compared to 3,07,550 units in the year-ago period, registering a growth of 17 per cent.
'We need to be far more careful given the fact that while this is group lending, it's essentially unsecured.'
BJP leader Amit Shah in a poll rally last month had asked people of Ludhiana to send Ravneet Singh Bittu to Parliament, promising them that he will make him a 'bada aadmi' (a big man).
The finance minister clarified that indexation benefits offered until April 1, 2001 would be protected. This means older properties, including legacy assets, would benefit.
Domestic passenger vehicle wholesales rose 14 per cent year-on-year to 393,074 units last month, the best-ever figure for January, amid robust demand for utility vehicles, industry body SIAM said on Wednesday. As per the latest data issued by the Society of Indian Automobile Manufacturers (SIAM), dispatches of passenger vehicle from manufacturers to dealers stood at 346,080 units in January 2023.
Recent data from market analytics firm Nielsen shows that the rural market in the country's 630,000-odd villages is pulling down the overall FMCG business.
There were instances of 'rasta roko' at various places in rural Maharashtra
Marico's January-March quarter (Q4) results were slightly better than consensus. Revenue was up by 1.7 per cent year-on-year (Y-o-Y) to Rs 2,280 crore. Ebitda grew by 12.5 per cent Y-o-Y to Rs 440 crore. Adjusted PAT was up 10.3 per cent Y-o-Y to Rs 320 crore.
Karnataka has the highest number of medical seats in the country at 11,745, of which 3,750 seats were in government institutions and 7,995 seats were in private colleges.
Good results for the January-March quarter (Q4) of FY24 and strong seasonal demand have led to strong investor interest in Crompton Greaves (CG) Consumer Electricals which is hitting new highs. While there's bullish consensus on the company's future performance, the stock has gained over 40 per cent in the last six months and valuations may become stretched. The Q4FY24 revenue rose 9.5 per cent YoY to Rs 1,960 crore.
Mopeds are sought by people with smaller businesses, with their weight-carrying and haulage ability beside being lighter and easy to manoeuvre in traffic.
Car makers are reaching out to consumers in rural centres as high lending rates slow urban demand.
