India's macroeconomic situation is improving fast and the country's GDP growth will turn positive in the third and fourth quarters of the current financial year, eminent economist Ashima Goyal said on Sunday. Goyal in an interview to PTI said the management of the COVID-19 pandemic and gradual unlocks announced by the government have helped in avoiding multiple COVID-19 peaks. The growth estimates by different agencies are being continuously revised, she said.
'India is showing a reasonable amount of resilience, but we are still living in a world that is quite fragile.' 'That's why we hope that the government will continue to invest significantly in public capex so that we are able to ride through this cycle till the private sector is able to play its part in investing and adding to the capex cycle.'
The government will create an EV Venture Capital Fund, for financial support to start-ups in the segment. The overall aim is to make Tamil Nadu the preferred destination for EVs and component makers.
Wadhwani joined the billion-dollar club in 1999, when he sold a venture for $9.3 bn to i2 Technologies.
The Budget session of Parliament is all set for a stormy start on Tuesday with major opposition parties planning to corner the government.
Further stimulus measures are expected in the upcoming Budget where the focus is likely to be on reforms, including some structural measures such as reducing red tape and boosting foreign direct investment. The meeting with industrialists is in the series of discussions that Modi has had during the last couple of weeks to seek suggestions to revive growth.
'The fiscal pressure will be there, but the intent of the government behind this move is to spur demand and growth.'
After job cuts at Twitter, Facebook's parent company Meta is planning to begin "large-scale layoffs" this week in what could be the largest reduction to date at a "major technology corporation in a year that has seen a tech-industry retrenchment," a media report said.
Budget has laid emphasis on enhancing expenditure in farm & rural, and social sector including healthcare, education, skill development, job creation and infrastructure
If you looked back at 2018 and had to give it a name, the Year of Limitations might be the most accurate.
Finance Minister Nirmala Sitharaman will be presenting her fifth Budget that may do a tightrope walk between staying fiscally prudent and meeting general public expectations of lower taxes and a wider social security net, while at the same time firing the engines of the economy.
According to the decision, such entities can now first operate through e-commerce and then open brick-and-mortar stores.
'The term 'pro-growth' must be qualified somewhat because, while a rising tide will lift all boats, it will not necessarily do so equally.'
There will be many steps which will be taken outside the budget.
The government has extended excise duty concessions beyond 30th June 2014 for a period of 6 months up to 31st December 2014.
Prime Minister on Friday said his government has unshackled several stalled projects across the country.
According to the Manpower Employment Outlook Survey released today by ManpowerGroup, the hiring pace for the upcoming quarter has rebound from both, last quarter and a year ago at this time.
'The signal is crude oil prices will rise, I am cutting my subsidy. Be prepared, prices will rise.'
The first dimension of this vision will be to build physical as well as social infrastructure for a $10-trillion economy and to provide ease of living: Goyal.
Sure, he's churning out a deftly-packaged hit or two but is that all one expects from a man known to spew hard-hitting philosophy about anything and everything in life? The answer is an emphatic 'no'.
Here are the key numbers to watch out for in the Budget for 2022-23, which is widely expected to boost spending towards policies that create jobs, boost manufacturing, helping rural and agri-economy and infrastructure creation. Sitharaman, who had in her first budget in 2019 replaced leather briefcase -- which had been in use for decades for carrying budget documents -- with a traditional red cloth 'bahi-khata', has spurt in tax collections to her aid in the budget that is expected to a spend-all budget.
The government plans to create five crore employment opportunities during the Tenth Plan period, the Lok Sabha was informed on Monday.
Prime Minister Narendra Modi on Friday said production linked incentive (PLI) scheme, which is aimed at boosting domestic manufacturing and exports, is expected to increase the country's production by $520 billion in the next five years. Addressing a webinar on PLI scheme, organised by Department of Industry and International Trade (DPIIT) and NITI Aayog, through video conference, Modi said the government is continuously carrying out reforms to boost domestic manufacturing. In this year's Budget, about Rs 2 lakh crore was earmarked for the PLI scheme for the next five years and "there is an expectation that the scheme would result in increasing the production by about $520 billion in the next five years", he said. He added that there is also an expectation that the current workforce in the sectors, which will avail the benefits of the PLI scheme, will be doubled and job creation will also increase.
PMI went up from 51.2 points in May to 53.1 in June. Owing to the June figure, PMI for manufacturing stood at 51.9 points in the first quarter of 2018-19 against 51.8 points in the fourth quarter of 2017-18.
Union Tourism and Housing and Urban Poverty Alleviation Minister Kumari Selja said, "The thrust area for the government will be creation and improvement of tourism infrastructure, promotion and publicity of India as a preferred destination in overseas markets, promotion of domestic tourism and most importantly employment generation." On housing and urban poverty alleviation, the JNNURM with approval of projects of nearly Rs 50,000 crore is reshaping our cities, she said.
Going by the current pace, IT firms are likely to exceed the manufacturing sector in salary payouts over the next five years.
The industry's reactions to the Budget have been mixed.
Take a look at the skills that matter and how you can acquire them.
The tech creators, or the ones who made billions, asks Ajit Balakrishnan.
Sikka said he needs to move forward and return to environment of respect, trust and empowerment, where he can take on new lofty challenges.
Giving major relief to budding entrepreneurs, the government on Thursday allowed startups to avail tax concession only if total investment including funding from angel investors does not exceed Rs 10 crore.
There is a need for better computation of numbers so as to avoid overlaps and capture the net gains to the economy.
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The request for relaxation came from large manufacturing units which have stated that the move would help facilitate manufacturing processes and augment exports.
