Indian economy is likely to rebound with an 8.9 per cent growth in the fiscal year beginning April 2021 after economic activity showed significant improvement in the last quarter, IHS Markit said on Friday. The National Statistical Organisation (NSO) on Thursday predicted that the economy will contract 7.7 per cent in the current financial year ending in March, the worst performance in four decades.
According to the global research firm, though a sharp fall in WPI inflation and negative growth in Industrial production is exerting pressure on the RBI to cut rates, the quantum of rate cut will be more important than the timing.
There are two major factors behind the rupee fall - one is international and the other is domestic.
Highlighting the role of MSMEs in enhancing exports and helping the country achieve self reliance, Union Minister Nitin Gadkari on Monday said India does not need to import from China. "Already in automobile sector, in many sectors now, in agriculture, automobiles, everywhere, we have already found the solutions. Now we don't need to import from China," said the minister. He observed that India was exporting a lot of items instead of importing them.
D&B sees January IIP to decline by 0.5-1.5 per cent. Last month the factory output, as measured in terms of the index of industrial production, had contracted by 0.6 per cent.
The country's near-term outlook hinged on a benign inflation trajectory, uptick in industrial activity and falling crude oil prices
Welcoming the latest round of stimulus announced by Finance Minister Nirmala Sitharaman on Thursday, experts said the measures will support the economic recovery boosting demand, job creation and by providing funds to the MSME and stressed sectors. The fiscal impact of the stimulus is likely to be around 0.25-0.6 per cent of GDP in the current fiscal, they said.
The RBI on April 6 directed all payments service providers to make sure "that the entire data relating to payment systems operated by them are stored in a system only in India."
'Goddess Laxmi doesn't come just by praying to her.' 'You have to make yourself attractive to Laxmi for her to come to you.'
Santosh Kamath, partner (infrastructure and government services), KPMG in India, expects an extension of a tax holiday for the sector.
Expressing disappointment over the hike in repo rate by the RBI, India Inc on Friday said a rate cut by the bank would have helped ameliorate sentiments as businesses are "reeling" under a tight liquidity crunch due to high cost of capital.
Finance ministry considers tax sops, regulation of hospitals to make health care affordable.
Sensex ends in green on boost from bluechip stocks.
The RBI Governor brought down retail inflation to 3.8% in July.
15 per cent of startups in Silicon Valley are founded by Indians.
With Sundar Pichai becoming the CEO of Google, India has one more reason to cheer its prowess in the global IT sector.
Satya Nadella is the highest-paid CEO in the US. So how do the other Indian-American executives fare?
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