India's services sector growth recorded another month of robust expansion in July, albeit at a slightly slower pace than in June, largely supported by robust demand conditions and investment in technology, a monthly survey said on Monday. The seasonally adjusted HSBC India Services Business Activity Index was at 60.3 in July, down only fractionally from 60.5 in June. In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
Muhammad Yunus proved that he was neither an armchair economist nor a slogan mongering political activist, but a doer destined to do what Mahatma Gandhi said -- to remove every tear from every eye, recalls Rup Narayan Das.
Life has come full circle for Nobel laureate Professor Mohammad Yunus, who faced persecution during Sheikh Hasina's regime for embezzlement, is now all set to head of the interim government in Bangladesh after she resigned and fled the country.
For a bunch that fancies itself so greatly and does not hesitate to express an opinion on everything, this is very odd behaviour, says T C A Srinivasa-Raghavan.
They also warned that banks will start reporting higher non-performing assets after September, once the six-month moratorium on loan repayment ends.
The government also appointed Dr Vinod Paul, a pediatrician at the AIIMS, as a member of the NITI Aayog
India's manufacturing sector activity moderated in April, but still recorded the second fastest improvement in operating conditions in three-and-a-half years supported by buoyant demand, a monthly survey said on Thursday.
Prime Minister's key economic advisor C Rangarajan on Friday lowered the growth forecast for the current fiscal to 5.3 per cent from 6.4 per cent projected earlier and listed out host of measures including further liberalisation of foreign direct investment norms to improve economic condition.
Eminent economist and Nobel laureate Amartya Sen on Monday described the electoral bonds scheme as a scandal and welcomed the Supreme Court's recent judgment annulling it.
The Rs 2,000 note withdrawal decision and response to it so far suggest that the move can help boost FY24 GDP growth to beyond 6.5 per cent estimated by the RBI, a report said on Monday. The real GDP growth for the first quarter of FY24 will come at 8.1 per cent with an upward bias and the Reserve Bank of India's 6.5 per cent estimate can also be exceeded, economists at the country's largest lender SBI said. "We expect Q1 FY24 GDP growth at 8.1 per cent with an upward bias due to the impact of Rs 2000 note withdrawal event...this reinforces our projection that FY24 GDP could be higher than 6.5 per cent, basis the RBI estimate," a note said.
Chief executive officers (CEOs) across sectors have expressed intentions to expand capacities, expecting the government's target to invest a record Rs 11.11 trillion on infrastructure development will act as a catalyst for a jump in consumer demand. "With the government planning a capex of Rs 11.11 trillion, private sector investment will come in a big way. Companies will be preparing for it right from today," H M Bangur, chairman of Shree Cement, told Business Standard. For the past few years, the investment scene in India has been dominated by government capital expenditures; private investments in the manufacturing sector have remained muted.
The ones who came more recently were clutching the green cards that gave them an escape hatch through which to return to green pastures: Arvind Panagariya, Raghuram Rajan, Arvind Subramanian and other perfectly honourable gentlemen like them, points out T N Ninan.
Stepping up its attack on Prime Minister Narendra Modi over his 'redistribution of wealth' remark, the Congress on Tuesday said he will never tell people that more than 40 per cent of the wealth created in the country from 2012 to 2021 has gone to just one per cent of the population, and asserted that only an Indian National Developmental Inclusive Alliance (INDIA) government can deliver a vastly more inclusive economic growth.aax
There are reports that the government will soon cut income taxes by about Rs 50,000 crore to boost consumption.
Prime Minister Modi, I suggest that, instead, you distribute about one lakh crore rupees per year to the 80 crore poor, which will boost both consumption and economic growth, suggests Kalyan Singhal, McCurdy Professor of Business at the University of Baltimore.
Arvind Subramanian was appointed CEA in October 2014 and got a year's extension in September 2017
Rising crude oil prices, traction in China equities and inflation concerns back home are casting a shadow on the Indian equity markets in the short term, believe analysts at Jefferies. They said this could see the markets remaining range-bound in the near term before the next leg up.
Chief Adviser to Bangladesh's interim government, Muhammad Yunus, has said the issue of attacks on minority Hindus in his country is 'exaggerated' and questioned the manner in which India projected it.
India's services sector growth quickened in June from May's five-month low, amid a stronger rise in new orders and an unprecedented expansion in international sales, a monthly survey said on Wednesday. The seasonally adjusted HSBC India Services Business Activity Index rose from 60.2 in May to 60.5 in June, pointing to a sharp expansion in output. In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
The current spurt in the stock market is on account of strong fundamentals and robust corporate earnings and retail investors can look for buying opportunities to accumulate quality stocks, experts said.
Against the Reserve Bank of India's (RBI's) projection of 7.1 per cent, India's first quarter (Q1) 2024-25 (FY25) gross domestic product (GDP) growth came in at 6.7 per cent. This is in line with market expectations and significantly lower than the 7.8 per cent recorded in the fourth quarter (Q4) 2023-24 (FY24) and 8.2 per cent in Q1FY24. The quarter witnessed decreased government consumption and investment spending due to the parliamentary election.
Every day at 11 am, T Rooban performs a special Abhisheka Aradhana for Kamala Harris' success, pouring liquid offerings over the deity's image while chanting sacred Sanskrit mantras.
Alloting more funds for MNREGA and PM-KISAN could wipe out the entire additional money that the Centre may have for FY25.
'We should be mindful that the religious minority community in one country is the majority in another (and) so treatment of the minority community in our respective countries will be an important variable in our relationship'
'India's top companies currently lack the organisational wherewithal to hire and train 2 million interns annually, given their current scale of operations and existing employee base.'
'The ceaseless process of privatisation is shrinking the space of reservation.' 'Where will reservation go if you keep privatising?'
'The government should come back as a job creator as it did in the 1960s and the 1970s.'
Reserve Bank of India (RBI) is unlikely to cut the benchmark interest rate at its upcoming monetary policy review meeting, taking place soon after the announcement of the Lok Sabha election results, amid inflation challenges, said experts. The Monetary Policy Committee (MPC) may also refrain from rate cut as economic growth is picking up, notwithstanding the elevated interest rate of 6.5 per cent (repo) prevailing since February 2023. The meeting of the Reserve Bank Governor Shaktikanta Das headed MPC is scheduled for June 5 to 7.
'When I asked whether they would choose a government job that offered Rs 30,000 a month or a private job that offered them Rs 3 lakh a month, without exception, everybody said, "I would rather have the government job!"'
India recorded a current account surplus of $5.7 billion or 0.6 per cent of GDP in the March quarter, the Reserve Bank of India said on Monday. This is the first time in ten quarters that the crucial metric of the country's external strength has turned into surplus mode. In the year-ago period, the current account deficit stood at $1.3 billion or 0.2 per cent of GDP, and the same was $8.7 billion or 1 per cent of GDP in the preceding quarter ending December 2023.
'Their role model is Iran: high control of the citizens by the State.' In Iran it is Islamic control; in India, it will be Hindutva control.'
Economists at the Centre for Economic and Social Studies (CESS) here expect that the share of organised retail in India will not exceed 30 per cent of the total retail trade in the country even after allowing 51 per cent foreign direct investment in (FDI) in multi-brand retail.
You may be popular initially because of politics and ideology but if the economy slows down, you will be losing your popularity: Nouriel Roubini.
India's manufacturing sector saw a slower growth rate for the second straight month in May but stayed firmly in expansion mode with global sales increasing to the greatest extent in over 13 years, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 58.8 in April to 57.5 in May, signalling a slower but substantial improvement in the health of the sector. The index had climbed to a 16-year high of 59.1 in March.
Barclays chairman Marcus Agius and chief executive Bob Diamond have resigned after regulators in the UK and US slapped a 290 million pound penalty on the bank.
A monsoon deficit is likely to affect the agriculture output, which could have an impact on the food inflation
Notwithstanding the protectionism and other hindrances, the current mood of optimism about the Indian business process outsourcing sector's growth prospects seems justified, according to the London-based magazine The Economist.
Why did the political system in the country react to these two decisions of the Modi government in a diametrically opposite manner? asks A K Bhattacharya.
As farmers continue their protests demanding repealing of the three new laws, Kumar also emphasised that continued negotiations with protesting farmers is of course the way forward.
'Any finality in such matters requires political views. We will review it closer to the full Budget.'
South Asia has the highest gender inequality in the world, says Kalpana Kochhar.
