Headline growth was quite weak heading into the Covid period but averaged 6.4 per cent and 6.7 per cent in the five years between FY16 and FY20 for GVA and GDP respectively, points out Abhishek Upadhyay.
Hit by inflation, higher input costs and pricing measures, fast-moving consumer goods companies are expected to see a contraction in their gross margin and a modest-to-flat operating profit in the October-December quarter. Several FMCG makers are likely to log a low single-digit rise in their revenue, returning to the cycle of value-driven growth.
Vice President Jagdeep Dhankhar has questioned the Chief Justice of India's involvement in executive appointments, specifically citing the selection of the CBI director. He believes this practice undermines democratic principles and calls for revisiting the existing norms. Dhankhar also raised concerns about the "doctrine of basic structure", suggesting it has a debatable jurisprudential basis. He emphasized the importance of each institution operating within its constitutional boundaries and highlighted the need for coordinated autonomy. The vice president also discussed the need for a balanced approach to judicial review and the importance of judges focusing on judgments rather than other forms of expression. He stressed the need to revisit the current state of affairs to restore the judiciary's sublimity.
India's wheat production is projected to have declined nearly 3 per cent to 106.84 million tonnes while the overall foodgrain production is estimated to have touched record 315.72 million tonnes in the 2021-22 crop year. The wheat production is estimated to have declined due to heatwave that resulted in shrivelled grains in the northern states of Punjab and Haryana. Releasing the fourth advance estimate for the 2021-22 crop year, the Union agriculture ministry on Wednesday said a record output is also estimated for rice, maize, gram, pulses, rapeseed and mustard, oilseeds and sugarcane.
With India's EV penetration at just 2.5 per cent, the market presents an opportunity -- provided Tesla gets its pricing right.
India should encourage the second coming of SAARC with climate change as an urgent agenda and keeping Indian security concerns in mind as the subtext, suggest Lieutenant General Ashok Joshi (retd) and Colonel Anil Athale (retd).
The World Bank on Tuesday raised the growth forecast for the Indian economy to 7 per cent for the current fiscal year on the back of recovery in agri sector and rural demand. World Bank had in June projected India to grow at 6.6 per cent for FY24. According to the World Bank Report released on Tuesday, India's growth continues to be strong despite a challenging global environment.
Defying the bearish sentiment in the markets on Monday, ICICI Bank's share price rose by 2 per cent, reaching an intraday high of Rs 1,234.4 per share on the BSE. With a 1.5 per cent gain at the close, the stock emerged as the top performer on both the BSE Sensex and the National Stock Exchange Nifty 50 indices.
'The Abdullah family is the problem and facilitator of the instability that we are seeing in Kashmir.'
Poor rainfall has also depleted water reservoirs levels, which is likely to impact the winter crops.
India's exports to Iran have been falling over the last one year, amid decline in rupee reserves of the West Asian economy. Going ahead, the possibility of augmenting exports to Iran may not be easy for India, considering the geopolitical tensions - Russia-Ukraine and Israel-Hamas conflicts - and the West Asian country's support for Russia and Hamas, people aware of the matter said. Exports to Iran saw a downward spiral since November last year.
With different agencies showing divergent predictions regarding the southwest monsoon, the central government and states are gearing up to face adversity with various line ministries reportedly being directed to undertake mock drills and hold preparatory meetings. Around 56 per cent of the net cultivable area of the country is rain-fed, accounting for 44 per cent of foodgrain production. The June-September rains contribute around 73 per cent of the annual precipitation.
In Kerala's society, known for its high material standard of living, plunging into a state of having nothing overnight can be terrible for one's social standing and sense of self-esteem. Rehabilitation entails piecing a community back together after a disturbance and while its aim is noble, the act of reassembling will bring alive disparities and inequalities, explains Shyam G Menon.
Passenger vehicle retail sales in India witnessed a 10 per cent on-year jump in July driven by new model launches and enhanced discounts, industry body FADA said on Monday. Total passenger vehicle retail sales rose to 3,20,129 units in July, as compared to 2,90,564 units in July 2023. "Dealers reported benefits from good product availability, attractive schemes, and a wider range of products," the Federation of Automobile Dealers Associations (FADA) vice president C S Vigneshwar said in a statement.
The stock of the country's largest plastic pipe maker Supreme Industries has shed 22 per cent since its highs in October. The September quarter results were below expectations as the volatility in polyvinyl chloride (PVC) resin prices led to a major destocking across the trade channel.
Renowned agricultural scientist M S Swaminathan and the driving force behind the nation's 'Green Revolution,' passed away in Chennai on Thursday.
The finance minister, in her Budget speech, should focus more on what she is directly responsible for, rather than on programmes where her role is largely supportive, notes Nitin Desai.
India remains the largest growing economy in the world, a senior official from the International Monetary Fund said, observing that the country's macroeconomic fundamentals are good. "India is said to remain the largest growing economy in the world. We project growth at seven per cent in FY24-25, supported by recovery in rural consumption, as there have been favourable harvests.
The agrarian crisis must be met with similarly speedy responses.
Agri-enterprises are finding it hard to expand due to lack of commercial guidance.
Haryana has done well in terms of economic growth over the last couple of decades. For it to continue to lead the growth ladder, the new government has to work hard on multiple dimensions, recommend Shishir Gupta and Rishita Sachdeva.
The government is likely to introduce a bill seeking amendments to the Insurance Act, 1938, during the upcoming Budget session to achieve 'Insurance for All by 2047'. Some of the provisions, which could be part of the amendment bill, include composite license, differential capital, reduction in solvency norms, issuing captive license, change in investment regulations, one-time registration for intermediaries and allowing insurers to distribute other financial products, sources said.
The escalation of conflict in the West Asian region is expected to push already high logistics costs besides hurting trade in sectors such as oil, electronics and agriculture, according to exporters. They said that insurance costs for exports to the countries directly involved in the war could also go up, which will impact Indian exporters' working capital. Think tank Global Trade Research Initiative (GTRI) stated that the conflict is already hurting India's trade with countries like Israel, Jordan, and Lebanon.
Let reason, not emotion, guide your decisions.
Onion and potato production is expected to be down in the 2023-24 crop year, while the tomato output could be marginally higher, the Department of Agriculture's first advance estimates of horticultural output released on Thursday showed. "Production of onion in 2023-24 is expected to be around 25.47 million tonnes compared to around 30.20 million tonnes last year due to a decrease of 3.43 million tonnes in Maharashtra, 0.99 million tonnes in Karnataka, 0.35 million tonnes in Andhra Pradesh and 0.31 million tonnes in Rajasthan," the official statement by the department of agriculture said.
The impact of Trump's announcement of increasing import tariffs will have negligible benefit for India not because of companies trying to shift from China to other countries or their supply chains being affected due to their Chinese operations but because of our faulty policies, explains Mudit Jain.
India added nearly 4.7 crore jobs during 2023-24, taking the total number of employed people to 64.33 crore spread over 27 sectors covering the entire economy, according to Reserve Bank data. The number of employed people was 59.67 crore at the end of March 2023, said the RBI's update on 'Measuring Productivity at the Industry Level-The India KLEMS [Capital (K), Labour (L), Energy (E), Material (M) and Services (S)] Database'.
'The touchstone is reciprocity which will be applied to friends and foes alike.' 'It will be a bitter pill to swallow.'
President Donald Trump is expected to sign a series of executive orders fulfilling campaign promises, including declaring an emergency at the southern border, addressing a national energy crisis, and defining sex-related policies. The orders aim to address immigration, national security, and energy independence, with a focus on reversing policies implemented by the previous administration.
The committee has been tasked to come up with policy measures to boost agriculture exports, raise growth in food processing, attract investments in modern market infrastructure, value chains and logistics.
The challenge for politicians is that the continuous electoral cycle favours short-termism and the loan waiver type of policy, whereas prosperity requires hard decisions where commonly held perceptions must be disrupted and over-turned, says Dhiraj Nayyar.
Noida was conceived in the 1970s and went on to transform the Western UP's landscape for good. Akin to the New Okhla Industrial Development Authority (Noida), the Yogi Adityanath government has instituted the Bundelkhand Industrial Development Authority (BIDA) with its epicentre in Jhansi.
If growth reverts to the pre-Covid level, a lot of people may have to temper their rosy optimism, points out Debashis Basu.
Increased production of pulses, oilseeds, and cereals will help boost domestic supplies and contribute to keeping inflation low in the coming months.
Flagging the challenge of raising foodgrain production, Prime Minister Manmohan Singh on Friday promised all assistance to states for improving agricultural growth.
According to Union Agriculture Minister Sharad Pawar, the revival in the agriculture sector has been due to the record production of 216 million tonnes of foodgrains, 22.7 million bales of cotton and 345 million tonnes of sugarcane in 2006-07. He said this revival was a result of the amendments made in the Agriculture Produce Marketing Committee Acts by the various state governments with the guidelines of the centre.
China granted bio-safety certificates in 2009 to two pest-resistant GM rice varieties and one type of corn, the first country to allow field trials of GM staple foods.
'Any earnings, regardless of location, will be subject to Indian income tax.'
India's merchandise exports in October rose by 17.25 per cent to $39.2 billion against $33.43 billion a year ago, according to government data released on Thursday. Imports increased by 3.9 per cent to $66.34 billion in October compared to $63.86 billion in the year-ago period.
After climbing to the highest level in more than five years to 4.7 million tonnes in FY24, India might import fewer quantities of pulses this financial year at 4-4.5 mt on the back of good monsoon and higher domestic production, Bimal Kothari, chairman of India Pulses and Grains Association (IPGA), said in New Delhi on Friday. Kothari was addressing reporters on the sidelines of a seminar on pulses titled "Bharat Dalhan-2024".
