Reserve Bank on Thursday retained the growth and inflation projection at 7.2 per cent and 4.5 per cent respectively for the current fiscal amid expectations of a normal monsoon. In its last bi-monthly monetary policy review in June, RBI had projected real GDP growth and retail inflation at the same.
The size of Reserve Bank's balance sheet increased by 11.08 per cent to Rs 70.47 lakh crore as on March 2024, leading to the highest-ever dividend payout to the government, according to the central bank's annual report. In actual terms, the increase was Rs 7,02,946.97 crore over Rs 63.45 lakh crore as on March 2023.
Looking under the hood, I see India on the terrible, but commonplace, road to prosperity failure, warns Rathin Roy.
Advertisement revenues will go up in 2016-17 with automobiles and e-commerce being big contributors.
An article on 'State of the Economy' in the monthly Bulletin also said the improvement in the outlook for agriculture and the revival of rural spending have turned out to be the bright spots in the evolution of demand conditions. Consumer price inflation ticked up in June 2024 after three consecutive months of moderation as a broad flare-up in vegetable prices halted the overall disinflation that had been underway, it said.
The provision for additional Rs 10,500 crore (Rs 105 billion) was made in the first batch of supplementary demands for grant, which was approved by the Lok Sabha on Tuesday. The amount has been provided, "to meet the additional requirement of the National Rural Employment Guarantee scheme," stated the supplementary demand for grants.
'Generating employment requires a shift in policy.' 'If not, the country will face economic, social and political challenges in the coming years.'
Arguing that it was very difficult to post MBBS doctors in rural areas, Health Minister Ghulam Nabi Azad on Wednesday said the proposed Bachelor of Rural Health course was targeted at areas where only nurses and midwives were available and no doctor was willing to go.
The RBI announced its monetary policy on Tuesday.
It may be a little early to cheer the recovery in the fast-moving consumer goods (FMCG) space as a deceleration in discretionary demand, after the festival season, may offset fragile rural recovery, analysts have cautioned. "The overall demand environment for staples remains muted, while discretionary demand trends have seen some deceleration after the festival season. "We believe margins in staples have bottomed out, but we expect only a gradual uptick with the ongoing softening in raw material prices.
'Right to apprenticeship means that anyone below the age of 25 years with a diploma or other qualifications can demand an apprenticeship with a private, a public sector company or a government organisation. And when he/she demands this, it is the obligation of the government to provide it.'
The country's gross domestic product (GDP) is likely to grow at 5.8 per cent in the third quarter of fiscal 2022, according to an SBI's research report- Ecowrap. The country's economy expanded by 8.4 per cent in the second quarter of 2021-22, to cross pre-pandemic levels. However, the GDP growth in July-September period was slower than the 20.1 per cent expansion in the previous quarter.
Lok Sabha constituencies that sprung a surprise in the 2024 polls.
India's overall retail inflation eased to 4.41 per cent in September, helped by falling commodity prices, but rural inflation was at 5.05 per cent
Several firms are stepping up to help their workforce cope with soaring temperatures
Since 2008, the Bureau of Energy Efficiency is running a star rating programme, under which electric equipment are rated according to their efficiency. This in turn helps the consumers save electricity.
'Private General insurers are poised to grow at 17 per cent - 18 per cent over the next 5 to 7 years and we will grow faster.'
IOC's marketing director GC Daga said that the company is planning to open 1,000 rural outlets with Kisan Seva Kendras or farmer service centres attached to them.
'We expect market consolidation and recommend buying during market dips.'
In private, questions are being raised about the wisdom of a 'dual-SIM' leadership during the long run-up to the 2026 assembly polls where 'family rule' could become an election issue, reports N Sathiya Moorthy.
Data captured in central government records have a lag.
There are enough threads left to weave a Season 4, hopefully without the dark clouds hovering over Phulera.
This rise was spurred by record kharif sowing - after a good rabi season - that ensured high disposable incomes in rural India.
For the smart phone industry, it has been a lacklustre quarter of CY2024, with sales falling by 3-4 per cent over the same period last year, according to Counterpoint Research projections. However, with the launch of many new models in Q1 of CY24, overall shipments grew year-on-year by 10-12 per cent. In CY23 shipments remained flat, ending the year with 152 million units.
There is no near-term respite for the country's largest fast-moving consumer goods maker, Hindustan Unilever (HUL), which is facing multiple challenges on the growth front. With demand showing no signs of improvement, especially in the rural segment, the October-December quarter (Q3) of 2023-24 (FY24) is likely to be similar to the previous quarter, with volume growth in the low single digits. The stock, which is down 7 per cent over the past year compared to the 11 per cent jump for the S&P BSE Sensex, could underperform the benchmark in the near term as well.
A 15 per cent corporate tax rate for services companies in SEZs, setting up a fund for deep-tech startups and establishing clusters to demonstrate design-to-manufacturing capabilities of tech firms were some of the key demands made by the IT sector at the pre-Budget consultation on Monday. The participants shared their views and suggestions regarding Big Data, incentives for encouraging setting up of data centres, fiscal incentives for data localisation, incentives for pushing digital penetration in rural areas, and corporate guarantee to startups for competing with other nations.
Domestic economic growth may nosedive significantly in the latter half of the current fiscal from 5.8 per cent in the second quarter, primarily owing to fall in rural demand following drought, forecasts an economic journal.\n\n\n\n
FMCG major Britannia Industries' results for the January-March quarter (Q4) of the financial year 2023-24 (FY24) were received enthusiastically by the market with the share going up by 6.7 per cent on Monday to close at Rs 5,061.60 on the BSE. However, analysts said the results were in line with margins, and disappointing in terms of revenue growth. The consolidated net sales (excluding other operating income) rose 3 per cent year-on-year (Y-o-Y) to Rs 4,010 crore in Q4.
Since Kakuda is made for OTT, the film might find its audience of horror fans but it is not particularly scary, and not the least bit funny, observes Deepa Gahlot.
Deloitte India on Friday said it estimates India's GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows. In its India's economic outlook report, Deloitte said the rapid growth of the middle-income class has led to rising purchasing power and even created demand for premium luxury products and services. With the expectation that the number of middle-to-high-income segments will be one in two households by 2030/31, up from one in four currently, we believe this trend will likely become further amplified, driving overall private consumer expenditure growth, it said.
Elder Pharma employs about 3,300 people in India, with about 2,700 professionals in marketing and sales. This recruitment will help Elder Pharma to have one of the largest drug sales force in India, like market leaders such as Cipla, Ranbaxy, Piramal Healthcare and Lupin.
India's economic growth may dip in the latter half of this fiscal from 5.8 per cent recorded in second quarter, mainly due to decline in rural demand following drought, Institute of Economic Growth warned on Wednesday.
Development economist Jean Dreze said the Indian democracy is currently navigating a crisis that is not only limited to the 'recent wave of authoritarianism' but also suppression of opposition voices by the ruling Bharatiya Janata Party.
'With passage of time, Kamal did move away from the humdrum of commercial cinema, using it only as a peg to launch a new concept or new technology, as no other actor/film-maker has done in Indian cinema.' N Sathiya Moorthy assesses the career and politics of movie legend Kamal Haasan on his 70th brthday.
A land-owning class, the Jats are a powerful community and account for 28 per cent of Haryana's population. The time, they believe, has now come for them to take revenge.
Congress legislators will spend Thursday night inside the Karnataka legislative assembly and council, demanding the sacking of Rural Development and Panchayat Raj Minister K S Eshwarappa and also that he be booked for sedition for his statement about the national flag.
'The reason being we cannot let premiums go beyond a certain point.'
With the last two stimulus packages working wonders for the packaged goods industry, players in the sector are now rooting for one more round of fiscal incentives to further boost demand in the domestic rural markets and be competitive overseas.
Indian stock markets are expected to be driven mostly by global factors this week amid a lack of local triggers and earnings season largely coming to an end, say analysts. Crude oil prices, rupee movement and US Federal Reserve meeting minutes to be released this week will also influence the market sentiment. "With the earnings season behind us, global cues would largely dictate the trend in the coming week," Ajit Mishra, SVP - technical research, Religare Broking Ltd, said.
