'We believe there will be a full shutdown for four weeks and a partial shutdown for eight weeks.' 'Hence, economic activity is unlikely to normalise before the end of May.'
Emerging business theme-based funds basically invest into mid and small-cap stocks, which normally have the potential to grow faster.
Industrial growth has entered the negative zone in October, two years after the global financial crisis. But Prime Minister's Economic Advisory Council chairman C Rangarajan pins hopes of a revival in the fourth quarter.
'Two in three creators in India who earn money from YouTube agree that YouTube is their primary source of revenue.'
"Unfortunately, while homage was paid to the photos of Bapu, and he found mention in speeches for many years, Khadi, handicrafts, use of swabhasha and swadeshi were forgotten. After becoming the prime minister, Narendra Modi gave a new lease of life to all these ideas of Bapu," Shah said.
Confederation of Indian Industry has asked Prime Minister Manmohan Singh to fast track economic reforms, which in turn would boost investments and accelerate growth, chamber's new president Adi Godrej said on Thursday.
Developed countries are relaxing restrictions on economic activity at a faster rate than expected. Global demand for consumer goods, intermediates and commodities is growing at a fast pace. Most exporters are flushed with orders, says T N C Rajagopalan.
Hindustan Unilever Ltd, India's largest personal care product maker, on Tuesday reported a better-than-expected increase in its September quarter net profit and revenues, signalling a revival of demand following the world's biggest lockdown.
The seasons in 2012 and 2013 went by with hardly any property launches, mainly due to an economic slowdown and a need to clear the backlog
Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
In another round of economic booster, Sitharaman announced steps to help homebuyers and push exports.
On one hand, South Indian states have been complaining about denial of a proportionate portion of the sharable funds from the Centre, based on population. On the other hand, they stand to lose Lok Sabha and Rajya Sabha seats that again are based on population, points out N Sathiya Moorthy.
The stimulus package announced by Finance Minister Nirmala Sitharaman "fails to involve" banks in the economic revival process, a member of the Reserve Bank of India's central board said on Wednesday. The stimulus package is "imaginative and forward looking, yet fails to involve banks as frontline warriors in revival of economy," Satish Marathe, a member of RBI's central board, said in a social media post.
Finance Minister Nirmala Sitharaman will present the much-awaited 2022-23 Union Budget on February 1. While there has been strong recovery in some sectors, touch services like hospitality, tourism and leisure continue to suffer after two Covid-19 waves. Household savings have been hit due to increased spending on health care. Consumption has still not reached pre-pandemic levels.
In years past, we often approached the Budget expecting to see changes in direct and indirect taxes. Those days are behind us. The Budget of today seeks to expand the economy and keep it at the forefront of technology, observes Harsh Goenka.
Union Textiles Minister Dayanidhi Maran has hailed the Budget proposals-2010-11 presented in Parliament on Friday. The minister said that these initiative for the textiles sector as a growth spurring initiatives , which dovetail with economic revival, infrastructure development, agriculture development, inclusive growth and restoring export growth.
Foreign Portfolio Investors (FPIs) have pumped Rs 47,148 crore in the Indian equities in June, making it the highest inflow in 10 months, enthused by the country's steadily improving macroeconomic fundamentals. However, inflows in July may be subdued as FPIs might adopt cautious stance due to the recent comments from the US Federal Reserve, Mayank Mehraa, Smallcase manager and principal partner at financial consultancy Craving Alpha, said. Besides, VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said FPIs are likely to turn a bit cautious going forward as valuations in the country are rich from a short-term perspective.
The world needs to wake up to this new dimension of war at sea and be prepared to face the 'unknown enemy' who have the advantage of attacking at their choice of location and time, cautions Commodore Venugopal Menon (retd).
Shah said India's goal is to become a $ 5 trillion economy in the next five years and without contribution from the energy and petroleum sector, this goal can't be achieved.
Thakur's tenure as chief minister is best remembered for implementation of the recommendations of the Mungeri Lal Commission, whereby quotas for backward classes were introduced in the state in 1978. This panel was the forerunner of the Mandal Commission. Both Mungeri Lal and B P Mandal were from Bihar, which has a long history of socialist struggles.
S&P Global Ratings on Tuesday raised India's growth projection for the current fiscal to -7.7 per cent from -9 per cent estimated earlier on rising demand and falling COVID infection rates. "Rising demand and falling infection rates have tempered our expectation of COVID's hit on the Indian economy. S&P Global Ratings has revised real GDP growth to negative 7.7 per cent for the year ending March 2021, from negative 9 per cent previously," S&P said in a statement. The US-based rating agency said its revision in growth forecast reflects a faster-than-expected recovery in the quarter through September. For the next fiscal, it projected India's growth to rebound to 10 per cent.
With a revival in demand for IT services, the global security software revenue is expected to grow by 11.3 per cent to cross $16.5 billion in 2010, says the research firm Gartner.
'The next fiscal year will be a good one.'
India's GST collection remained above Rs 1 lakh crore for the third month in a row at over Rs 1.17 lakh crore in September, raising expectations that second half of the year will post higher revenues. The tax collections in September on goods sold and services rendered was 23 per cent higher than Rs 95,480 crore collected in September 2020, and 27 per cent higher than Rs 91,916 crore collected in September 2019. The collection in September is the highest in five months since April, when revenue was at record high of Rs 1.41 lakh crore.
It will take more than three years to restart economic growth provided the new government, in all earnestness, brings in reforms right from the beginning, says M V Subramanian. Continuing our series on the state of the Indian economy.
Most analysts had predicted a decline in real estate fixed asset investment.
The BJP cannot afford to alienate the OBCs, who have explicitly voiced their opposition to the Maratha quota.
As Iraq moves forward on the path of reconstruction and economic revival with the end of war and withdrawal of American forces from the country, it is expected to grow much faster than the two Asian giants, India and China, US President Barack Obama said on Monday.
GDP growth of 7.7 per cent in the first half of this fiscal has "left sceptics gasping and woefully behind the curve", an RBI article said on Wednesday. It also stressed the buildup in the growth momentum is likely to be sustained. The article on the state of the economy published in the Reserve Bank's December Bulletin on Wednesday also said CPI-based retail inflation is expected to ease to 4.6 per cent in the first three quarters of 2024-25 from 5.6 per cent in November.
The Reserve Bank of India on Friday decided to keep the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance as the economy is yet to recover from the impact of the second Covid wave.
A look at the XI Best Spells of the league stages of IPL 2024.
Finance Minister Ishaq Dar, who presented the budget in the National Assembly, the lower house of parliament, said the government will target a growth rate of 3.5 per cent in the coming fiscal year.
With signs of economic revival becoming more pronounced, the government has relaxed the austerity drive undertaken last year and from April 1, government employees will be allowed to fly first class.
Wineries in Maharashtra, which produce over 90 per cent of the wine in the country, have been facing a severe financial crunch due to economic recession. The problem was compounded because of the terrorist attacks of November 26, 2008 in Mumbai, as the foreign tourist inflow -- on which the retail wine business is heavily dependent -- was badly hit.
Referring to the proposed new monetary policy framework, it said in the weeks ahead, government and RBI will work towards it.
Emerging from the shadow of the global slowdown, Indian economy has shown clear signs of revival with a likely 1.51 lakh (151,000) jobs being added in a year till September 2009, the Economic Survey said on Thursday.
Corporate margins and profits in India remain vulnerable to changes in crude oil prices in the international market. Historical quarterly data from listed companies (excluding banks, finance and insurance, oil and gas, and power sectors) indicate an adverse correlation between corporate margins and crude oil prices.
Overall, the credit profiles of players will be supported by healthy balance sheets and liquidity. Prudence in capital and development expenditure, efficient working-capital management, and recent equity raising will help sustain credit metrics in FY22.
'Once the lockdown is lifted, we will need the mother of all fiscal and monetary policy support to sustain the economy,' advises Akash Prakash.
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