India has an unprecedented opportunity to develop solar industry because like China, it offers scale which is critical to reducing costs and to stimulate innovation, says Shyam Saran.
'We are an inherently Maritime Nation -- with the sea on three sides and high mountains on the fourth. It is but natural that the oceans would play a vital role in India's growth and prosperity,'
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.
India has a long way to go to catch up with Thailand let alone the US.
There will be a lot to repair and rejuvenate -- if that opportunity even presents itself, warns Rathin Roy.
Global rating agency Fitch on Friday pegged India's growth at 5.5 per cent in the current fiscal and 6 per cent in 2015-16 and affirmed the country's rating outlook at stable level.
GST rate cut for real-estate, income transfer scheme, farm loan waivers execution and recapitalisation of PSU banks have the potential to boost India's growth in a few months, says Neelkanth Mishra.
'The outlook for private investment, which has been such a weak link for India for so long, remains challenging.'
Most forecasts do not have a track record of transparency and accuracy
After bumbling for years since 2014, the Modi government seems to believe that massive government expenditure will lead us to prosperity supported by 'seat-of-the-pants' decision-making, observes Debashis Basu.
The Union Budget's focus on capital expenditure is expected to crowd-in private investment and push the GDP growth rate close to 7 per cent in the next financial year beginning April 1, said a Reserve Bank article on 'State of the Economy'. In 2023-24, capital expenditure is budgeted at Rs 10 lakh crore which will constitute 3.3 per cent of GDP. "We believe that India will decouple from macroeconomic projections of current vintage and also from the rest of the world.
Modi made the comments in his address after inaugurating the 14th edition of Aero India at the Yalahanka Air Force station complex on the outskirts of Bengaluru.
Cascading effect of rising raw materials will result in inflation, high rates, slow capex
Among the Sensex firms, Bajaj Finance emerged as the biggest gainer by climbing 2.95 per cent. Tata Motors, Bajaj Finserv, IndusInd Bank, Sun Pharma, Mahindra & Mahindra, State Bank of India, Larsen & Toubro, HDFC, HDFC Bank, Maruti, Reliance Industries and Bharti Airtel were the other major winners. HCL Technologies, Axis Bank, ICICI Bank, Tech Mahindra and Titan were among the laggards.
Polarisation in the performance of Indian banks will persist as many large public sector banks are still saddled with weak assets, high credit costs, and poor earnings, S&P Global Ratings said on Thursday. It said State Bank of India and leading private sector banks have largely addressed their asset quality challenges, and their profitability is improving more sharply than the banking system. In its Global Banking Outlook-2023 report, S&P said economic recovery is driving credit costs to cyclical low levels and stronger balance sheets and higher demand should boost bank loan growth, but deposit growth will lag.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
The long-term growth perspective or potential for India is one of the highest in the Asia Pacific region.
'With a solid investment programme and sustainable development strategy, India can exceed 7 per cent growth per year, or a doubling of high-quality national income within a decade.'
When there is a state government committed to development, it is important that Mumbai has a civic body that, too, shares that goal, Modi said.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
'The government should act proactively to instil confidence in the private investors, and also boost the purchasing power of people directly or indirectly by ensuring minimum wages.'
The government is not in a "crazy rush" to sell everything and it will continue to have a presence in four strategic sectors, including telecom, Finance Minister Nirmala Sitharaman said on Saturday. In strategic sectors, a bare minimum presence of the existing public sector commercial enterprises at the holding company level will be retained under government control. The remaining enterprises in a strategic sector will be considered for privatisation or merger with another PSE or for closure.
Despite the recent turmoil in the Indian markets after a scathing report on the Adani group from Hindenburg Research, American private equity major Blackstone is "bullish" on the India growth story and plans to invest more in the country's infrastructure and real estate projects. "We have a long-term view on India, as growth will be higher here. We have invested half of our Asia exposure in India. "Our extraordinary performance in India has made us bullish," said Jonathan Gray, president and chief operating officer of Blackstone.
The recent rupee depreciation and capital outflows could adversely impact the country's economy.
The papers presented by Indian Police Service officers at the just concluded conference of director generals of police (DGPs) and inspector generals of police (IGPs) submit that by providing huge amounts of money in the name of loans for developmental works in Southeast and South Asia, China wants to reduce India's influence in the Indian Ocean region and force resolution of bilateral issues on Beijing's terms.
'The Fed rate will peak in the range of 5.1-5.3 per cent during the second quarter of CY23 and will most likely stay there for a while before rate cuts start in CY24.'
A recession is unlikely in the APAC region in the coming year, although the area will face headwinds from higher interest rates and slower global trade growth, Moody's Analytics said on Thursday. In its analysis titled 'APAC Outlook: A Coming Downshift', Moody's said India is headed for slower growth next year more in line with its long-term potential. On the upside, inward investment and productivity gains in technology as well as in agriculture could accelerate growth.
Finance Minister Nirmala Sitharaman will have to do a tight-rope walk between staying fiscally prudent and general public expectations of lower taxes and a wider social security net, while at the same time firing the engines of the economy before general elections. Sitharaman will on Wednesday present her fifth straight Budget at a time when the economy is slowing due to global headwinds and specific sectors need attention. In the run-up to the Budget presentation, expectations are rife that she may tweak income-tax slabs to provide relief to the middle class and increase spending on the poor through programmes such as the rural job scheme while ramping up financial incentives for local manufacturing.
Earlier, Putin had lauded Prime Minister Narendra Modi and called him a patriot of the country.
India's economy is forecast to grow at 4.8 per cent in 2013, down 1.3 per cent from its earlier projection, the UN's World Economic Situation and Prospects 2014 report said.
Microsoft chairman and CEO Satya Nadella on Tuesday said there is a tremendous momentum in cloud adoption, as he termed cloud a "big game changer". Nadella, who is currently in India, addressed Microsoft Future Ready Leadership Summit in Mumbai on Tuesday. He is also scheduled to visit Delhi and Bengaluru this week, and will be meeting key customers, startups, developers, educators and students during his India visit.
According to Fitch rupee is expected to weaken to 72 to a dollar by the end of December 2019, and further to 73 by December 2020, from 69.82 to a dollar in end December 2018.
Fiat Chrysler will be shipping its first India made product - the Compass SUV - to right hand drive markets like UK, Japan, Australia and South Africa in the next few months.
'To achieve a corpus of Rs 10 crores in the coming years, I would suggest you increase your SIP, advises Nikunj Saraf, vice president, Choice Wealth.
India's services sector output growth touched a three-month high in November as business inflows rose markedly amid accommodative demand conditions, a monthly survey said on Monday. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 55.1 in October to 56.4 in November, indicating a sharp increase in output that was the quickest in three months even amid higher operating expenses. Survey participants linked the latest expansion to demand strength, successful marketing and a sustained upturn in sales.
To promote localisation of manufacturing and reduce its import bill, the government increased basic customs duty on mobile handsets - from 10 per cent to 15 per cent.
Moody's Investors Service on Thursday slashed India's economic growth projection to 8.8 per cent for 2022 from 9.1 per cent earlier, citing high inflation. In its update to Global Macro Outlook 2022-23, Moody's said high-frequency data suggests that the growth momentum from December quarter 2021 carried through into the first four months this year. However, the rise in crude oil, food and fertilizer prices will weigh on household finances and spending in the months ahead.
According to state officials, the project envisages lifting of 17.40 thousand million cubic feet of water from river Thunga to Bhadra reservoir and 29.90 TMC from Bhadra reservoir.
Goldman cut India's growth estimates to 6.6 per cent from 7.2 per cent for the fiscal year ending March 2013, while BofA revised its forecast to 6.5 per cent from 6.8 per cent.
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