Official data released on Friday said the GDP is estimated to have grown by 5.7 per cent for the April-June period, as against a 4.6 per cent growth notched for the same period year ago.
CEOs expect to finish the ongoing March quarter with positive growth as the corporates get back to work in full strength.
'This government has always been fiscally conservative. It never resorted to fiscal profligacy.'
Something seems to be working for Indian consumers. Yet, the Indian consumer expresses some caution this festive season, reveals Mahesh Vyas.
The Indian financial services space seems to be in a sweet spot as foreign investors have made a net investment of Rs 14,205 crore ($2.1 billion) in the sector in November amid strong credit growth and manageable non-performing loan portfolio. The investment comes following a net withdrawal of Rs 4,686 crore from financial services stocks in October on account of profit booking. Overall, foreign portfolio investors (FPIs) have made a net investment of Rs 36,238 crore in the country's equity markets in November.
In March this year, Worldline India launched Vabox (Voice Alert Box): merchants will now get instant audio alerts on the settlement of UPI (Unified Payments Interface) payments via QR codes in languages of their choice when customers check out. "They needn't worry whether the amount has been credited to their account," says Gulshan Pruthi, the firm's executive vice-president. The French payments giant will roll out 500,000 Vaboxes in the initial phase.
Poor quality of education is one of the most important reasons for high unemployment in India, says Kavita Nigam.
His value lifestyle brand Zudio signals a coming of age of retail in small town India.
India's shift towards US companies for technology investments and partnerships fits well with the present government's 'Atmanirbhar Bharat' and 'Make in India' initiatives, say experts.
RBI may hold rates steady as economic parametes are going strong, say experts.
S&P Global Ratings on Monday retained its forecast of 9 per cent contraction in the Indian economy for the current fiscal, saying even though there are now upside risks to growth but it will wait for more signs that COVID infections have stabilised or fallen. S&P, in its report on Asia Pacific, projected the Indian economy to grow at 10 per cent in the next fiscal.
These stocks offer the best combination of maximum 'buy' recommendations from brokerages and share price upside over the next 12 months.
The rating agency said, rising COVID-19 cases in India will keep private spending and investment lower for longer.
The mutual fund (MF) industry has seen a fair number of new entrants in the last 10 years but none of them have proved to be much of a challenge for the larger players. The list of top 20 fund houses, which manage over 90 per cent of the industry's total assets, continues to be dominated by players who have been in the business for more than a decade. Bajaj Finserv MF may change that, say experts.
The central government is likely to exceed the budgeted tax collection target of Rs 22.2 trillion for the current fiscal year, led by better indirect tax mop-up, compliance measures, and recovery in most sectors following the second wave of the Covid pandemic. Personal income and corporate tax collections (net of refunds) grew 74 per cent to Rs 5.70 trillion in the first half of the current financial year, driven mainly by advance tax and TDS payments. The target for the current fiscal year is Rs 11.08 trillion; higher taxes are paid usually towards the end of a fiscal year.
Moody's Investors Service on Thursday slashed India's economic growth projection to 8.8 per cent for 2022 from 9.1 per cent earlier, citing high inflation. In its update to Global Macro Outlook 2022-23, Moody's said high-frequency data suggests that the growth momentum from December quarter 2021 carried through into the first four months this year. However, the rise in crude oil, food and fertilizer prices will weigh on household finances and spending in the months ahead.
With the world's worst outbreak of COVID pandemic stalling a nascent economic recovery, the government has begun assessing the impact of the second wave of infections on different sectors and may look at providing support at an appropriate time to segments requiring fiscal help. Some of the economic indicators, including the Goods and Services Tax (GST) collections, still provide confidence and incoming data will throw some more light on the state of the economy, sources said. Services sectors like hospitality, tourism and aviation which had just started recovering were hit hard by the second wave of COVID, the sources said, adding these segments might need some support on an urgent basis from the government.
India's crude oil import bill is set to exceed $100 billion in the current fiscal year ending March 31, almost double its spending last year, as international oil prices trade at seven-year highs. India spent $94.3 billion in the first 10 months (April-January) of the ongoing financial year that started April 1, 2021, according to data from the oil ministry's Petroleum Planning & Analysis Cell (PPAC). It spent $11.6 billion in January alone when oil prices had started to surge.
There are various estimates of India's debt to GDP ratio, but the consensus is that that it would be over 80 per cent at the end of the current fiscal year.
India's upbeat outlook contrasts with neighbouring China, where growth slipped to 6.7 in the first quarter
The real requirement for the finance minister's explanatory speech is to explain the measures taken in the Budget to influence inflation and growth not just through the announcement of a deficit goal, but more broadly through the impact on money supply, consumer demand, foreign trade and investment, explains Nitin Desai.
Indian companies are expecting generous tax incentives from the Union Budget that will help them invest more in building capacities in the coming years. While the productivity-linked incentives (PLIs) are a good start to spur local manufacturing, the government should also take steps to boost consumer demand, which is not showing encouraging signs, say chief executive officers (CEOs) of India Inc. Statistics released by the Reserve Bank of India (RBI) shows that Indian banks had sanctioned loans worth Rs 75,558 crore in 220 new projects - a record low - in the pandemic-hit financial year ending March 2021. This is not showing any signs of a significant pick up in the last nine months of the ongoing financial year.
Having learnt their Maggi lessons hard way in 2015, the FMCG sector is desperately looking for a brighter new year with hopes pinned on revival in rural demand.
The government did not tell us why our economy had imploded. The prime minister simply stopped speaking on the subject, asserts Aakar Patel.
By 2026, around 25 per cent of the global population may spend at least an hour a day on Metaverse. This will open the doors for many businesses, the NFTs market will spread, and Web 3.0 will attract more investment.
These jobs don't necessarily require a degree in engineering or specialisation in coding.
Only vaccinations can eliminate the threat of new waves, help raise sentiments and allow sellers and buyers to participate aggressively in the much awaited economic recovery, observes Mahesh Vyas.
Indian equities are no longer cheap vis-a-vis global markets, and only a short distance away from being the most expensive they have ever been.
Mukesh Ambani, who took over the reins of Reliance Industries Ltd (RIL) after the sudden demise of his legendary industrialist father Dhirubhai Ambani, completes 20 years at the helm during which the company saw a 17-fold jump in revenues, 20-times surge in profit and has become a global conglomerate.
We must work in the direction of an innovation and technology driven economy which could boost up creation of jobs and open advanced and newer avenues of employment within the country.
For Q4CY20, PC shipments grew by 27 per cent year-on-year, said data from the IDC.
Software major Tata Consultancy Services on Wednesday reported a 14.8 per cent rise in net income to Rs 11,392 crore for the fourth quarter of last fiscal against Rs 9,959 crore in the year-ago period. The country's largest technology services company by market value said its revenue rose 16.9 per cent to Rs 59,162 crore during the reporting season from Rs 50,591 crore a year ago.
After initial success, data use is stagnating and getting consumers to spend additional money for high-speed internet is proving to be difficult for telcos.
It has 18.9 per cent share of the market, down from 22.6 per cent for the third quarter of 2018 while Xiaomi has 27.1 per cent share.
The RBI refuses to classify a cryptocurrency as an asset since it doesn't have future cash flow and its value is always fluctuating because of speculation. There is also no consumer protection, observes Tamal Bandyopadhyay, and hence the e-rupee trial run.
Index heavyweights continue to be top losers with ICICI bank.
Employees of some top Indian companies were in for a pleasant surprise when they received a mail from their HR team announcing a hike in salaries and bonuses. Led by IT firms and start-ups, HR managers say that while some have offered cash and stock options, others are in a wait-and-watch mode and add the trend will pick up in other sectors. For example, IT giant Cognizant - which had an attrition rate of 19 per cent in the December quarter - has established a $30-million employee retention fund in order to bring down the high attrition rate.
Apart from India, only two other countries - Russia (15.5 per cent) and China (14.9 per cent) clocked double digit growth in November
The belief that the Fed knows something that lesser mortals don't is common.
Consumption is among the most diversified and sought-after themes in Indian equities. Over the past five years, consumption theme funds have given an annualised category average return of 15.17 per cent, according to the data from Value Research. But this theme has been affected by the Covid-19 pandemic, which impacted jobs and livelihood.
