Manufacturing activities in India gained momentum in August as new orders and output increased at the quickest rates in nearly three years, according to a survey released on Friday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) rose to 58.6 in August from 57.7 in July. Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence, said the PMI results for India painted a vibrant picture of the nation's manufacturing landscape in August.
Vinay Umarji
The banking regulator was uncomfortable with the runaway pace at which consumer credit was growing.
China's eastern metropolis of Shanghai, the economic hub of Hong Kong and the sprawling city of Chongqing have been named the 'sexiest cities' in the country because of their economic prosperity, urban development, charming buildings and beautiful girls, according to a new survey.
The report on the Economic Freedom of the States of India is the latest in a series of annual surveys on the economic freedom of Indian states, which started in 2004. The latest report takes 2009 as the period under review.
The two major parties offer the United States choices that are basically unacceptable and the bench strength, such as it is, is not entirely capable of winning popular acclaim, notes Shreekant Sambrani.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
The economic slowdown has taken its toll on consumer confidence. India has fallen from the top to third in the latest round of the Nielsen Global Consumer Confidence Survey and now ranks behind Indonesia and Denmark. It is the largest bi-annual study of its kind and is carried out on more than 25,000 Internet users in 50 countries.
National security advisor Ajit Doval on Friday suggested that various central armed police forces of the country should have "jointness" and interoperability among themselves like the ongoing plan for the defence forces.
The Annual Survey of Industry, carried out by the Ministry of Statistics and Programme Implementation for the year 2008-09 shows that the growth in Gross Value Addition in the manufacturing industry nearly halved to 10.59 per cent from 20.12 per cent in 2007-08.
The survey said it was generally accepted that India needs more knowledge workers and that, for economic growth to continue at current levels, there should be a greater emphasis on creativity and innovation. The study in 25 countries with special focus on five emerging economies, including India, showcases issues being faced across the world in educating children for the 21st century.
FY22 will be the year to rebuild with the IMF projecting output growth at 11.5 per cent, economic survey at 11.0 per cent and the RBI's Monetary Policy Committee at 10.5 per cent.
"The cost of economic crime in India is significant, which is also evident from some of the large frauds experienced by the country in the last two years," said PricewaterhouseCoopers Advisory Leader Ashwini Puri, adding, "Additionally, average cost to manage economic crime in India is close to double as compared to global averages."
The Economic Survey says, massive efforts are needed in the form of investment in social infrastructure, skill development and empowerment of women.
Wary of India's economic growth, an overwhelming majority of Chinese have a negative opinion about India, a recent survey has found.
While Singapore, Hong Kong and Japan are considered the least corrupt among 13 major Asian economies, India, ranked 8th, fared better than 10th-placed China in a survey conducted by a regional think-tank. The annual survey by the Political and Economic Risk Consultancy excludes countries like Myanmar and Bangladesh, notorious for corruption.
Battle lines have already been drawn and the opposition has insisted on a debate on demonetisation.
A senior WCD official said the ministry has asked the Thomson Reuters Foundation, which conducted the survey, for details on the experts to ascertain the report's authenticity, but no reply has been received as yet.
Gandhi said farmers asked him during his Bharat Jodo and Bharat Jodo Nyay yatras about why they were not getting the benefit of loan waivers like billionaire industrialists or MSP (minimum support price) for farm produce.
India is ranked 12th in terms of services GDP among the world's top 15 countries, says the Economic Survey.
A Reserve Bank-authorised survey on Monday lowered the country's economic growth rate projection to 5.7 per cent for the current fiscal, down from 6 per cent estimated earlier.
India decisively withstood global headwinds in 2023 and is likely to remain as the world's fastest-growing major economy on the back of growing demand, moderate inflation, stable interest rate regime and robust foreign exchange reserves. Despite widespread pessimism witnessed among the developed nations and the worsening geopolitical situation, India recorded a gross domestic product (GDP) expansion of 6.1 per cent in the March quarter. The growth moved up to 7.8 per cent in the June quarter and was 7.6 per cent in the September quarter. For the first six months of this fiscal, the growth was 7.7 per cent.
Rediff.com's data journalists have broken down the National Sample Survey Office 68 round (July 2011- June 2012) report data into a state-wise listing.
Extreme poverty in India declined by 38 million in 2021 to 167.49 million after a surge in the two preceding years, but remained above the 2018 level, the latest World Bank data shows. While for most countries poverty rose in 2020, when the Covid-19 pandemic hit the global economy, the data shows poverty shot up in India a year earlier in 2019 to 176.09 million from 151.79 million in 2018, the lowest pre-pandemic count. India's poverty rate at 11.9 per cent in 2021 also remained higher than the 2018 level of 11.09 per cent, though easing from 14.72 per cent in 2020.
India must concentrate on manufacturing-led growth.
China's post COVID-19 pandemic economic rebound showed signs of slowdown as the economy grew at 7.9 per cent in the second quarter compared to a record 18.3 per cent in Q1, while the GDP expanded 12.7 per cent year on year in the first half amid the continued global spread of the coronavirus and unbalanced domestic recovery. In the second quarter, the GDP of the second largest economy in the world grew 7.9 per cent year on year, the data released by the National Bureau of Statistics, (NBS) on Thursday showed. On a quarterly basis, the economy expanded 1.3 per cent in Q2.
Officials in the state urban development department said that RITES has started soil testing at four places in Patna to conduct techno-economic feasibility study for a monorail here.
External Affairs Minister S Jaishankar on Tuesday said it was necessary to acknowledge that China will influence India's neighbouring countries, and India must not be scared of such "competitive politics".
The 'aura of invincibility' around Prime Minister Narendra Modi has been 'shattered' by the Indian voters who gave the Opposition a new lease on life, this is how the international media described the outcome of India's general elections.
If it continues to do well economically, develops a large manufacturing sector, gains in technological heft, builds a more capable defence industry, improves its human development indicators, becomes more of a trading nation, and has greater internal cohesion. In short, it is a work in progress, suggests T N Ninan.
India's economic growth can reach a sustainable 10 per cent and be spread more evenly across the country if the government pursues ambitious and wide-ranging economic reforms, Organisation for Economic Cooperation and Development has said in a survey.
The immediate need is to put more money in the hands of agriculture-based and rural households to improve their purchasing power, says S Mahendra Dev.
Sumit Makhija, associate director, PwC said, "We have seen that frauds are happening in three main areas asset misappropriation by employees, financial mismanagement and corruption and bribery."
The government last year introduced the Insolvency and Bankruptcy Code.
While addressing a rally at Alipurduar, Banerjee accused the Election Commission of removing the deputy inspector general of police of Murshidabad at the behest of the BJP.
Farm loan waiver has been presumed to be inflationary. But the short-term consequences are likely to be quite deflationary.
Arvind Subramanian was appointed CEA in October 2014 and got a year's extension in September 2017
Majority also said that their risk appetite has not increased over one year.
Reserve Bank Governor Shaktikanta Das has pitched for policy support from all sides -- fiscal, monetary and sectoral -- to nurture recovery of the economy hit by the second wave of the coronavirus pandemic. The dent on economic activity due to the second wave of the pandemic during April-May necessitated continuation of monetary measures to support the process of economic recovery to make it durable, Das had said while participating in the meeting of the Monetary Policy Committee (MPC) earlier in the month. "Overall, the second wave of COVID-19 has altered the near-term outlook, and policy support from all sides - fiscal, monetary and sectoral - is required to nurture recovery and expedite return to normalcy," Das said, as per the minutes of the meeting released on Friday.
An Indian Institute of Technology survey says every IIT-ian has created 100 jobs and that every rupee spent on an IIT-ian has 'created an economic impact of Rs 50 at the global level, half of which is India's share'.
