The Reserve Bank on Wednesday marginally lowered the country's GDP growth projection for the current fiscal at 6.8 per cent from its earlier estimate of 7 per cent. However, despite the downward revision in the economic growth projection, India will remain among the fastest growing major economies in the world, said RBI Governor Shaktikanta Das while announcing the latest bi-monthly monetary policy.
Investors indulged in buying beaten down blue chips at lower and attractive levels.
A number of world leaders shared their well wishes for former Japanese prime minister Shinzo Abe, who is in a critical condition after being shot during a campaign speech on Friday in western Japan.
ITC, State Bank of India, HCL Technologies and IndusInd Bank were the other big laggards. NTPC, UltraTech Cement, HDFC Bank and Mahindra & Mahindra were among the gainers.
'When there was a match, he would be up all night watching it on his laptop with Kishori Amonkarji singing on the side.'
Former United States President Donald Trump on Wednesday is cruising towards winning the race for the White House in one of the greatest political comebacks in American history by almost defeating his Democratic rival Kamala Harris in an election that virtually divided the country into two camps.
Prices may go up because of higher energy costs, caused by the rise in shipping charges, with commercial vessels taking a longer route to avoid the troubled Red Sea region, the finance ministry said on Monday. Iran-backed Houthi rebels of Yemen are repeatedly attacking ships in the Red Sea. While the global economy is grappling with challenges such as sticky inflation, sluggish growth, and mounting fiscal pressure, India's external sector could face "potential risks" due to the ongoing geopolitical tensions, according to the finance ministry's report on the review of the Indian economy.
Designer Rohit Bal, a pioneer who helped put Indian fashion on the global map and dressed celebrities at home, Hollywood and elsewhere, died on Friday night at a south Delhi hospital following a heart attack. He was 63.
The growth in world trade is expected to slow down to one per cent in 2023, due to global uncertainties, according to a WTO forecast. The World Trade Organization (WTO) has also projected a growth of 3.5 per cent in global trade this year, as against the April estimate of 3 per cent. World trade is expected to lose momentum in the second half of 2022 and remain subdued in 2023, as multiple shocks weigh on the global economy, the multi-lateral body has said in a statement.
Capital markets are becoming more prominent in India's growth story, with an expanding share in capital formation and investment landscape on the back of technology, innovation and digitisation, according to the Economic Survey 2023-24 tabled in Parliament on Monday. Further, Indian markets are resilient to global geo-political and economic shocks, it added. "Despite heightened geo-political risks, rising interest rates and volatile commodity prices, Indian capital markets have been one of the best performing among emerging markets in FY24," the Economic Survey said.
Out of 24,230 IIT and NIT grads, about 8,000 students didn't find any takers during campus placement drives this year.
The employment situation remains dire. Whatever can be done to promote greater low-skill employment should be pursued aggressively, advises former chief economic adviser Shankar Acharya.
India's medal prospects took a hit with the exclusion of hockey, shooting, cricket, badminton and wrestling from the 2026 Glasgow Commonwealth Games.
'As we enter 2025, it must be acknowledged that there is a convergence of capital, influential people (from business and politics) and technology deciding the destiny of others in the name of pride, patriotism, nationalism, nation building, all of it thinly veiled disguises for personal profit and glory,' asserts Shyam G Menon.
Fundraising via the initial public offering (IPO) route by companies may touch Rs 1 trillion in financial year 2024-25 (FY25), according to a recent note by Pantomath Group - a mid-market investment bank. During the financial year 2023-24 (FY24), 76 companies tapped the markets through mainboard IPOs, Pantomath said, raising nearly Rs 62,862 crore. This is a 21 per cent rise compared to FY23, the note added.
India is expected to contribute 15 per cent to the global growth in 2023, an International Monetary Fund (IMF) official said on Tuesday. "Both India and China are expected to contribute 50 per cent of the global growth in the upcoming year (2023). "However, the share of India's contribution to global growth is expected to be around 15 per cent," Krishna Srinivasan, director, Asia and Pacific Department (APD) at IMF said at a roundtable with reporters from south Asian countries.
The Reserve Bank of India on Wednesday decided to keep the policy rate unchanged for the tenth time in a row but changed its stance to 'neutral' that may lead to a cut in the forthcoming policies. RBI maintained status quo despite the US Federal Reserve lowering the benchmark rates by 50 basis points last month.
'You can't make a film for yourself.' 'You have to make films for your audience.'
GIHL had won a 10-year concession for the 1.3 million tonne Ajaokuta Steel and Nigerian Iron Ore Mining in 2005, after acquiring control of Delta Steel in 2004. However, Global Steel Holdings (formerly GIHL) in a statement today said GSHL/Global Infrastructure Nigeria has not been receiving the promised support from the Federal Government of Nigeria (FGN) as contemplated under the share purchase agreement.
India on Saturday strongly demanded creation of global safety nets to address concerns over volatility in currency movements and markets.
In a nail-biting finish, Conservative candidate Don Stewart won the Liberal stronghold of Toronto-St. Paul's by defeating Liberal Party's Leslie Church by 590 votes.
The TIME 100 AI list is an interesting assortment of titans. Indians make up about 20 per cent of the coveted list, which is pretty commendable, notes Sandeep Goyal.
American Cole Hocker delivered one of the all-time Olympic shocks when he won the 1,500 metres gold
Carter was in politics, but not a politician, certainly not a transactional politician, points out Shreekant Sambrani.
'India represents one of the top opportunities with robust growth, solid fundamentals, and openness to foreign investment.'
Prime Minister Narendra Modi's goal of making India a high-income economy by 2047 is unlikely to be achieved, but the country should become an upper middle-income nation by then, Financial Times chief economics commentator Martin Wolf said on Friday. Wolf further said that India would also become a superpower by 2047. "India wishes to become a high-income country by 2047.
For the past few days, Tata had been admitted to the Breach Candy Hospital in south Mumbai.
Reserve Bank on Thursday retained the growth and inflation projection at 7.2 per cent and 4.5 per cent respectively for the current fiscal amid expectations of a normal monsoon. In its last bi-monthly monetary policy review in June, RBI had projected real GDP growth and retail inflation at the same.
The Indian Council of Medical Research (ICMR) and Panacea Biotec have initiated the first-ever phase three clinical trial for developing a dengue vaccine in India, the Union Health Ministry said on Wednesday.
India's exports may have touched an all-time high of $422 billion in 2021-22 but recession in key western markets and geo-political crisis due to the Russia-Ukraine war are expected to impact the growth of the country's outbound shipments in 2023. All the global trade promoting factors like political stability, movement of goods, adequate availability of containers and shipping lines, demand, stable currency and smooth banking systems are in disarray. Adding to the woes, COVID cases have again started rising in countries like China, Japan, South Korea and the US.
The size of Reserve Bank's balance sheet increased by 11.08 per cent to Rs 70.47 lakh crore as on March 2024, leading to the highest-ever dividend payout to the government, according to the central bank's annual report. In actual terms, the increase was Rs 7,02,946.97 crore over Rs 63.45 lakh crore as on March 2023.
'If tech giants like Amazon, Google, Apple and Meta enter the IPL broadcasting arena, it could further revolutionize sports media in India.'
'The border deal offers a hedge for India against Trump's unpredictability when it comes to his approach to competition with China.'
Calling Canada's behaviour 'the pits', India's recalled high commissioner Sanjay Verma says India was backstabbed and treated in a most unprofessional manner by a country that is supposed to be a friendly democracy.
Retail inflation increased to four-month high of 5.08 per cent in June as food items, including vegetables became dearer, according to government data released on Friday. The Consumer Price Index (CPI) based retail inflation was on a decline since January, before rising again in June. The CPI-based retail inflation was 4.8 per cent in May 2024 and 4.87 per cent in June 2023.
India is better positioned to face external shocks emanating from increasing geopolitical tensions, the aftermath of the COVID pandemic and the inevitability of climate change, Reserve Bank Deputy Governor Michael Debabrata Patra said on Monday. Relative to macroeconomic configurations in 2013 when India was described as one of the fragile five countries, he said, "India is better positioned currently, as its macroeconomic fundamentals have improved significantly, and external sector indicators point to the availability of enough cushions to manage external shocks." He was speaking at a conference on 'Growth And Development in the BRICS Economies' organised by the Delhi School of Economics (DSE) and the Indian Statistical Institute (ISI).
India women archers suffered a shock 3-5 loss to lower-ranked Ukraine in the pre-quarterfinals of the Final Olympic Qualifier.
Serena Williams voiced concern for fellow tennis player Peng Shuai, who has not been seen publicly since she accused a former vice-premier of China, Zhang Gaoli, of sexual assault.
'Today's engineering graduates have to learn the skills to solve problems which is actually a higher order skill.'
The sweeping economic sanctions on Russia - the second largest producer of crude oil - following its invasion of Ukraine late last month can cull global and domestic growth along with the added pains of higher inflation and currency depreciation, RBI Deputy Governor Michael Patra has said. And if the war lingers on, it can even lead to deglobalisation and even a recession, he added. The ongoing war has only added a whole new dimension to the outlook, and in fact, a weighty downside, Patra said in a lecture at the industry lobby IMC on Friday evening.
