The governor made it clear that the RBI is aware of what's happening and acts accordingly, but doesn't make a noise about that, points out Tamal Bandyopadhyay.
A sluggish manufacturing sector pulled down the economic growth to 8.9 per cent during the July-September quarter from 10.2 per cent.
The mass cancellation of coal blocks by the Supreme Court has sent banks in a jittery mode as they have extended over Rs 1 lakh crore loans to power plants that were fed by these mines.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
India's industrial production growth declined to a three-month low of 3.7 per cent in June mainly due to poor showing by the manufacturing sector, according to the official data released on Friday. The factory output growth measured in terms of the Index of Industrial Production (IIP) stood at 12.6 per cent in June 2022 on account of a lower base effect. The previous low of IIP was at 1.9 per cent in March 2023.
'The day I took charge, the PM told me you do the following -- stop imports, talk to all stakeholders and involve them to make mining more industry-friendly without affecting the environment.'
'This is a crisis which did not happen overnight. It was happening slowly.' 'Now we are mining very fast and this crisis won't last long.'
The central government is expected to complete the auction of the 5.9-million tonne (mt) lithium reserves discovered in the Reasi district of the northern Union Territory (UT) of Jammu & Kashmir (J&K) by the end of this calendar year, Union Mines Secretary Vivek Bharadwaj said on the sidelines of the launch of the Federation of Indian Chambers of Commerce and Industry (Ficci) report on 'New-Age Energy Minerals' on Tuesday. "Auction will be over by the end of this year," said Bharadwaj, adding, "We have already recommended a transaction advisor to the J&K government for the auction of lithium reserves." However, the exact timeline for an auction will be decided by J&K authorities, Union mines minister Pralhad Joshi said in Parliament last month.
Corporate India reported high double-digit growth in net profit for the fourth consecutive quarter in October-December 2023 (Q3FY24), driven by margin gains from lower prices of raw material and energy.
The Index of Industrial Production (IIP) grew by 10.9 per cent in January this year as against 8.5 per cent in the corresponding month last year.
It is the low cost of iron ore extracted from their adivasi homeland mines that enables steelmakers like Tata Steel and Essar, and miners like NMDC, not only to be among the most profitable companies in India, but also gives it the financial muscle to make huge overseas acquisitions. Ultimately, it is the poor adivasi who pays for it with his home and hearth and gets no credit for it! Either from the State, which connives in their exploitation, or the industry that lords over their resources, says Mohan Guruswamy.
Naxals allegedly set on fire a conveyor belt of National Mineral Development Corporation in Chhattisgarh's Dantewada district in the wee hours on Wednesday causing production disturbance to the tune of 40,000 tonnes.
Promising Central Bureau of Investigation probe into mining, chit fund and other scams in Odisha, Congress on Friday said it would review all MoUs signed by BJD government in the state in last 10 years, provide pucca houses to landless and allowance to unemployed youths if voted to power.
There's a straightforward relationship between economic activity and power consumption. If economic activity increases, so does power consumption. Since the latest GDP (gross domestic product) data indicates India's growth rates exceeded expectations in the second half if the 2022-23 financial year (H2FY23) and GDP estimates of FY24 are strong, we would expect power consumption to rise as indeed it has. There is also a direct relationship between power consumption and National Thermal Power Corporation or NTPC's results since the public sector undertaking (PSU) is the largest power generator in India.
The Indian economy will grow by 6.9 per cent in 2011-12 against 8.4 per cent in the last financial year according to government estimates.
'We will see a lot of investments from the private sector.' 'As long as we are not impacted by some global events, I think we will be in a strong place.'
India plans to double coal production by 2020
Essar Steel aims to participate in the indigenisation of products used in naval defence
The slowdown has mainly been on account of poor performance by the manufacturing and mining sectors.
The approval was announced by Environment Minister Greg Hunt, who said "after undertaking a thorough assessment and consideration under national environment law, I have approved the Carmichael Coal Mine and Rail Infrastructure project, subject to 36 strict conditions".
Former Finance Minister P Chidambaram on Monday said the high growth that Indian economy has logged in the first quarter of the current fiscal was on account of the UPA policies and the new government must give it the due credit.
Gross non-performing assets in system have grown to 4.1 per cent in FY14 from 3.4 per cent a year ago
During the April-July period of this fiscal, IIP growth stood at 5.8 per cent, as against 9.7 per cent in the corresponding four-month period last year.
Starting the new financial year on a positive note, the industrial growth more than doubled to 9.4 per cent in April 2004.
There was buzz of Piyush Goyal being elevated to Cabinet rank but only Prakash Javadekar made the cut.
The manufacturing sector, which accounts for over 75 per cent of the total weight of the index, grew by just 5.6 per cent in May.
India's economic growth surged to 20.1 per cent in the April-June quarter of this fiscal, helped by a low base of the year-ago period, despite a devastating second wave of COVID-19. The gross domestic product (GDP) had contracted by 24.4 per cent in the corresponding April-June quarter of 2020-21, according to data released by the National Statistical Office (NSO) on Tuesday. The government had imposed a nationwide lockdown at the onset of the COVID-19 pandemic last year.
A large quantity of weapons, including AK-47 rifles and mines with Pakistan-marking were recovered from the slain terrorist.
In terms of industries, 10 out of 23 industry groups in the manufacturing sector showed positive growth during November 2018.
Infrastructure assets worth over Rs 1.62 lakh crore are expected to be monetised during the current fiscal, Parliament was informed on Monday. The government had last year announced a Rs 6 lakh crore National Monetisation Pipeline (NMP) to unlock value in infrastructure assets across sectors, ranging from power to road and railways in four years till 2025. In a written reply to the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said about Rs 97,000 crore worth of public assets were monetised in the last fiscal (2021-22).
Shinde welcomed the former Rajasthan minister to the Shiv Sena and said Gudha left the ministerial position for the cause of people.
Elaborating on this theme, Petroleum Minister Dharmendra Pradhan pointed out that if the power sector had not been opened up through reforms initiated in 2003, India would still have been in darkness.
India's private sector activity contracted further in August, reflecting faster contractions of both manufacturing and services output, amid decline in new orders and tough economic conditions.
Future Gaming and Hotel Services whose director is the lottery magnate Santiago Martin is the top purchaser of electoral bonds having purchased bonds worth Rs 1,368, according to data uploaded by the Election Commission of India on its website on Thursday.
Factory output in March, as measured in terms of the Index of Industrial Production released today, also witnessed lower growth of 7.3 per cent, compared to 15.5 per cent expansion in the same month a year ago.
Private lenders have also been expanding their branch and automate teller machine networks aggressively.
Taken aback by the attack, Orissa government promised early clearances to mega steel projects, including Mittal's.
The government also increased the power of the FIPB.
While the corporate sector has benefited from massive capital expenditure, leading to sky-rocketing stock prices, investors would do well to keep an eye on the macroeconomic picture and government finances, not just corporate profits, for signs of trouble, alerts Debashis Basu.
