Current account deficit in 2010-11 will be well below 3.0 per cent of GDP.
The broader NSE Nifty too slipped by 9.50 points, or 0.09 per cent, to end at 10,118.25
Duvvuri Subbarao the new Reserve Bank of India governor said on Tuesday that the central bank will review GDP growth forecast for this fiscal during its October review of monetary policy.
Finance Minister Nirmala Sitharaman on Thursday announced a new job creation scheme by giving subsidy to those establishments that make new hires. The subsidy would be to cover for retirement fund contributions by employees as well as employers for two years, she said. Employees contribution (12 per cent of wages) and employer's contribution (12 per cent of wages) totalling 24 per cent of wages would be given to establishments for two years, she said. Under the Aatmanirbhar Bharat Rozgar Yojana, every Employees' Provident Fund Organisation (EPFO)-registered establishment taking new employees would get this subsidy.
Yes Bank was the top loser in the Sensex pack cracking 6.51 per cent, followed by SBI, Axis Bank, Vedanta, Sun Pharma, ICICI Bank, IndusInd Bank, ITC, Infosys and Tech Mahindra, shedding up to 3.69 per cent.
'Our stable outlook currently points to the fact that the ratings are likely to remain stable for the next couple of years.'
IMF said in 2017, India is likely to grow at the rate of 7.2 per cent instead of the earlier projected 7.6 per cent.
A World Bank reports says the country has shown signs of "some softening" that could slow down the pace of growth slightly in 2011.
FM is seen to step up the pace of sales of state assets and curb spending
Mumbai, which contributes about 30 per cent of country's direct collections, saw the rate of contraction in advance tax collection lower to 20 per cent as against an over 33 per cent decline in Q1.
Nomura has forecast the rupee at 61.6 against the dollar in Q1 and at 62 by Q4 of 2015.
Emerging economies can expand at a "reasonable pace" in the next four to five years even if growth in developed nations is moderate, Planning Commission Deputy Chairman Montek Singh Ahluwalia said.
Finance Minister Pranab Mukherjee, while speaking to media persons in New Delhi on Tuesday, said that India's economy is responding well. He also informed that the government took essential measures to tackle the adverse impact of inflationary pressure.
Indian economic growth slowed down to 6.7 per cent in 2008-09 from 9 per cent in the previous three years, as an aftermath of the global financial crisis.
If oil prices rise, the government would face an uncomfortable political decision.
The economy grew at 6.7 per cent in 2008-09, which is a sharp downward curve when compared to the 9 per cent or more growth that took place in the previous three years.
It was 55.3 per cent for the same period last year, and data shows the fiscal deficit for April-May was kept in reasonable check in spite of heavy frontloading of expenditure.
Some experts argue that India's new growth figures are due to the revised calculation of GDP, which was launched in January
Top gainers include Yes Bank, HUL, Vedanta, NTPC, Bharti Airtel, Adani Ports, PowerGrid and Tata Motors, rising up to 5 per cent.
Fiscal situation better but spending cuts likely in FY16 too.
The SBI report ruled out a October rate hike
'The slide in growth has arisen primarily because we have an NBFC crisis on top of a banking crisis,' points out T T Ram Mohan.
New series points to a sharp recovery since FY14.
IThe fiscal deficit target for 2020-2021 was originally set at 3.5 per cent of GDP. But the government's revenues have collapsed and its expenditure burden will only increase over the Budget estimates.' With the government having already planned for an additional borrowing of over Rs 4 trillion, the fiscal deficit for the current year would be much higher than the Budget estimate, notes A K Bhattacharya.
According to the global business information, knowledge and insight provider, India is likely to achieve an average growth rate of around 7.5 per cent during FY15-FY20.
The earlier forecast expected to see 654 million working Indians overall by the fiscal year ending 2022.
Most forecasts do not have a track record of transparency and accuracy
With nearly 100 countries closing national borders during the past month, the movement of people and tourism flows have come to a screeching halt. The contraction could be even higher if governments fail to provide income support and help boost consumer spending.
'This is not without risk because extraordinary steps taken in exceptional times have the habit of becoming habits until the next crisis intervenes,' warns T N Ninan.
'It is becoming clear that we will no longer see declines in GDP growth for the next few quarters.'
It said that while the Union Budget for 2009-10 is expansionary and conducive to growth, the failure of the monsoon and its significantly adverse impact on agriculture and industry will shave off 0.8 percentage points from the GDP growth rate.
Unlike the Advance Estimates which missed the impact of demonetisation, CEA's survey is likely to have a better take on Indian economy.
Moody's expect RBI to hold policy 'repo' rate steady to have a neutral stance in this growth
The total market valuation of all listed firms at the BSE had first hit Rs 100 trillion level on November 28, 2014.
India is expected to be among the top contributors in terms of incremental ad spends in the world, only behind the US and China.
Government think-tank body Niti Ayog CEO Amitabh Kant supported the industry demand and called for setting up of a single window clearance system for expeditious approval of projects. Start-ups and small medium enterprises requested the prime minister to provide support in low-cost capital at the virtual launch of space and satellite industry body Indian Space Association (ISpA).
The US decline decelerates on the back of public spending.
Surplus liquidity in the banking system and low demand for credit might prompt the Reserve Bank of India to maintain a status-quo in its key rates, bankers have said.
In the quarterly review of its annual monetary policy on Tuesday, the central bank is also likely to lay out a more clear roadmap to conduct the government borrowing programme in a smooth manner and may hike the GDP and inflation forecast for FY'10, they said. To arrest the slowdown in the economy by stimulating demand the apex bank has trimmed its CRR to 5 per cent, repo and reverse repo rates to 4.75 per cent and 3.25 per cent respectively since October last year.
CMIE further said that it has dropped its forecast for sugar production during 2009-10 due to an expected fall ofeight per cent in sugarcane. Similarly, because of the expected fall in oilseeds, CMIE dropped its forecast for production of edible oil.
