The two governments have already set a target of increasing bilateral trade in goods and services to $500 billion.
The economy is projected to clock 7.4 per cent growth.
Continuing the upward trend, GST collections rose 10 per cent to about Rs 1.64 lakh crore in December compared to Rs 1.49 lakh crore in the same month a year ago. During the April-December 2023 period, gross Goods and Services Tax (GST) collection witnessed a robust 12 per cent growth, reaching Rs 14.97 lakh crore against Rs 13.40 lakh crore mopped up in the same period of the previous year, the finance ministry said in a statement on Monday. The average monthly gross GST collection of Rs 1.66 lakh crore in the first nine-month period this year represents a 12 per cent increase compared to the Rs 1.49 lakh crore average recorded in the corresponding period of FY23, it added.
The state's economic health is in focus as it has consistently breached the fiscal deficit in eight of the last 10 years since Telangana's formation.
The PFRDA is engaged in consolidating the initiatives taken so far regarding the full New Pension System and expanding the reach of distribution network.
Foreign Portfolio Investors (FPIs) have pulled out over Rs 10,000 crore from Indian equities in the first three weeks of September, primarily due to rising US interest rates, recessionary fears, and overvalued domestic stocks. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period. Mayank Mehra, smallcase, manager and principal partner at Craving Alpha,believes that strong economic growth prospects, attractive valuations, and government reforms could support foreign investment flows in the next month.
Among the Sensex firms, Infosys, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Wipro and JSW Steel were the major gainers during the morning deals. Nestle, Bharti Airtel, Axis Bank ITC were among the laggards.
Noting that the economic crisis had underlined an urgent need for reform in the international financial structure, member of parliament Saifuddin Soz called for a greater role for developing nations in norm-setting and decision-making bodies like the International Monetary Fund.
As an ideal, economic democracy is not easy to define, but its core principle is to prevent any concentration of wealth that inhibits economic freedoms of society as a whole.
It is in circumstances like this that the Constitution becomes extremely important. It reminds us that we have a commitment towards higher human values to fulfil, a path to get back to, suggests Shyam G Menon.Else, we risk being rudderless in an ocean of money and majoritarianism, suggests Shyam G Menon.
Bajaj Finance was the top gainer in the Sensex pack, soaring over 8 per cent, followed by Kotak Bank, IndusInd Bank, HDFC, PowerGrid, Axis Bank, ICICI Bank and L&T. On the other hand, Maruti, ITC, NTPC and Nestle India were among the laggards.
The GDP growth for 2014-15 is pegged at 5.4 to 5.9 per cent: Economic Survey
IMF has praised India's economic performance and has negated the concept of decoupling as economies today are much closely related to each other.
Sajjid Chenoy, India economist at JP Morgan is the new part-time member.
'It is not his doing, but Rahul Gandhi is forced by circumstances.' 'In taking political decisions, everything has to get his clearance.'
This is the lowest investment grade rating.
Industrial output rose to nearly three-year high of 6.4% in August.
Observing that the economic recovery was not yet fully entrenched, the RBI Governor said recovery is likely to be gradual.
Finance Minister P Chidambaram on Friday appealed to the UPA coalition partners and allies to give "political space" for pushing forward the pending financial sector reforms, crucial for sustaining high economic growth.
Catch all the latest action from the Lok Sabha and Rajya Sabha here.
The Confederation of Indian Industry rated the performance of the NDA government on the economic front "excellent" even though the reforms agenda was unfinished.
The prime minister's August 15 address was undoubtedly inspirational and outlined important economic and social objectives, such as making India a global hub for manufacturing, ensuring bank accounts for all poor families, major thrusts in sanitation and cleanliness, and a radical restructuring of the Planning Commission.
Wood Mackenzie projected India's real GDP level to overtake Japan and reach over $6 trillion by 2035.
The auto industry expects lower taxes and interest rates from Budget 2015.
Resolving the TBS challenge comprehensively would require 4 Rs: Recognition, recapitalisation, resolution and reform.
Right to apprenticeship, legal guarantee for MSP, passing a constitutional amendment to raise the 50 per cent cap on reservations for SCs, STs and OBCs, a nation-wide caste census and scrapping of Agnipath scheme are among the promises made by the Congress in its Lok Sabha polls manifesto released on Friday.
Have the markets already played out their dynamics before the economy has even properly taken off? Are we now destined for a period of mediocre returns despite a strong economy? asks Akash Prakash.
Finance minister tries to put house in order before reforms are unveiled in February.
Economic think-tank Indian Council for Research on International Economic Relations has warned that higher economic growth of 7-7.5 per cent annually cannot be achieved in the next five years unless the government accelerates reforms.
The investment climate is going well in India and the private sector should skill their workforce in the interest of its business, Chief Economic Advisor K V Subramanian said on Thursday asserting that he does not foresee any difficulty in demand and supply of the workforce. Addressing 'Times Network India Economic Conclave', Subramanian further said job creation is part of the virtuous cycle that starts with private investments flowing into the country resulting in production, growth, job creation and increase in aggregate demand which in turn leads to more investments in the economy. The investment climate is going well in India. Other things will follow, though with a lag...it is for the private sector to start recognising that it is in their own business interest that they should skill their workforce. This, in turn, will raise the average level of skills in India," he said.
Government has been able to push through economic reforms, especially allowing foreign investment in multi-brand retail.
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Economy still faces many challenges and 'relatively big' downward pressures such as increasing difficulties for businesses and the emergence of economic risks, the Central Economic Work Conference said.
He said the government has already begun implementing tax reforms.
India's most valuable company Reliance Industries was once fined for producing more than its licensed capacity, its owner and richest Indian Mukesh Ambani said on Monday as he pitched for a push to manufacturing to make the country 'Aatmanirbhar' or self-reliant.
It further said India is facilitating external commercial borrowings by startups in order to encourage innovation and promote ease of doing business.
'It seems a wiser decision to pull out at the right moment than regret after joining the pact,' explains Dr Rahul Mishra.
Overall, as Budgets go, this one certainly scores in a realistic, house-keeping sort of way
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
P V Narasimha Rao strongly felt that the reforms would have to be mindful of Indian concerns and would have to protect the interests of our poor and our working people, he said.
Tax administration could be improved to reduce discretion and improve accountability
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