The policy was part of the Aatmanirbhar Bharat package announced by Sitharaman in May 2020 as a coherent policy where all sectors would be opened for private sector participation.
The new orders sub-index, which includes domestic demand as well as orders from abroad, rose to 53.2 in May
India's industrial output unexpectedly rose 1.2 per cent in May from a year earlier, led by a pick up in manufacturing, government data showed on Tuesday.
Chief economist at State Bank of India has revised downward the full-year growth forecast to a low 6.8 per cent from 7.5 per cent earlier for FY2023, citing "the way below GDP numbers for the first quarter". The National Statistical Office on Wednesday released the Q1 growth numbers which showed a consensus growth of 13.5 per cent, pulled down by the poor show of the manufacturing sector, which reported a paltry 4.8 per cent expansion in the first three months of FY23, negating the robust show by the services sector. Consensus forecast was 15-16.7 per cent of which the RBI made the highest forecast of 16.7 per cent.
Moitra brought two birthday caps in the House to press her argument that the businessman being most talked about had "topi-pehnau-ed" the government.
Capital goods output registered a steep decline of 16.5 per cent in June
The BSF has unearthed at least five under-ground tunnels in the about 192 km of the Jammu front (of the India-Pakistan IB) in the last three years.
Donations from corporates to the national parties increased by 109 per cent between FY 2017-18 and 2018-19, said an analysis by the Association for Democratic Reforms (ADR), an NGO working for bringing in transparency in electoral politics.
Growth of capital goods at 9.6 per cent is inspiring as the investment cycle is expected to rebound in the coming months.
According to reports, public transport and banking services remain partly disrupted for the second day in some states.
NSO has pegged economic growth at 5 per cent in 2019-20 in its second advance estimates.
In a double delight, retail inflation eased to a one-year low of 5.72 per cent - staying below the upper tolerance limit for two months in a row, while factory output rose sharply to 7.2 per cent on the back of healthy growth in manufacturing. The retail inflation numbers based on Consumer Price Index (CPI) will provide some room for the Reserve Bank to further moderate the quantum of hike in key interest rate or even press a pause button. The RBI has been on a rate hiking spree since May 2022 in its bid to tame inflation, having raised the repo rate by a cumulative 225 basis points (bps).
Niti Aayog CEO Amitabh Kant on Tuesday said it is difficult to carry out tough reforms in India and emphasised that more reforms are needed to make the country competitive in the global environment. Addressing a virtual event organised by Swarajya magazine, Kant said for the first time, the Centre has carried out hard reforms across sectors, including mining, coal, labour, agriculture, and the next wave of reforms must be pushed by the states.
India's economy grew by 1.6 per cent in the fourth quarter of 2020-21, restricting the full-year contraction to 7.3 per cent, official data showed on Monday. The fourth quarter growth was better than the 0.5 per cent expansion in the previous October-December quarter of 2020-21. The gross domestic product (GDP) had expanded by 3 per cent in the corresponding January-March period of 2019-20, according to data released by the National Statistical Office (NSO).
Controversy shrouds the expansion of the Akhilesh Yadav ministry on Monday with a social activist throwing a spanner by challenging before Governor Ram Naik the possible re-entry of tainted former Mines Minister Gayatri Prajapati.
Richest Indian Gautam Adani's group, which has grown on acquisitions, has fairly solid fundamentals but debt-funded future acquisitions can start putting pressure on ratings, S&P Global Ratings said on Thursday. Starting out as a commodities trader in 1988, the Adani group has diversified from mines, ports and power plants into airports, data centres and defence. It recently forayed into the cement sector with a $10.5 billion acquisition of Holcim's India units and is also looking to set up an aluminium factory. Most of this expansion has been funded by debt.
A recent data released by the Central Statistics Office (CSO) confirm that both the manufacturing and mining sectors shrunk in 2013-14 with fall in output.
'For our traditional membership base, it would be an access to disruptive ideas,' FICCI President Subhrakant Panda tells Asit Mishra/Business Standard.
'Imagine for a soldier -- first you conquer territory after fighting a fierce battle, suffer casualties and then you are ordered to come back to your side of the International Border in India.'
The World Bank has retained India's economic growth forecast for the current fiscal at 8.3 per cent as the recovery is yet to become broad-based. As per the first advanced estimates of the national income released by the National Statistical Office (NSO) last week, the economy is projected to grow at 9.2 per cent in 2021-22, surpassing pre-COVID level in actual terms, mainly on account of improved performance, especially in farm, mining and manufacturing sectors. "India's economy is expected to expand by 8.3 per cent in fiscal year 2021/22 (ending March 2022), unchanged from last June's forecast as the recovery is yet to become broad-based.
Report says gold being exported by persons of Indian origin and routed through Dubai
The manufacturing sector, a key indicator of economic activity, grew 10.6 per cent year-on-year in October.
The country's gross domestic product (GDP) is likely to grow more than 9.5 per cent in fiscal 2021-22, an SBI research report-Ecowrap said. The economy grew at 8.4 per cent in the second quarter of the current fiscal, according to data released by the National Statistical Office (NSO) on Tuesday. The growth in the April-June quarter of this fiscal stood at 20.1 per cent. In October's monetary policy review, the Reserve Bank of India had retained its projection for real GDP growth at 9.5 per cent in 2021-22, consisting of 7.9 per cent in Q2; 6.8 per cent in Q3; and 6.1 per cent in Q4 of 2021-22.
The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks.
The gross NPAs of some public sector banks, including State Bank of India and Punjab National Bank have crossed 4 per cent of the total assets at the end of March, 2013.
The country's economic growth hit a decade low of 5 per cent in the last fiscal on account of poor performance in the farm, manufacturing and mining sectors.
Imports too declined by 16.31 per cent to $37.39 billion.
The second-quarter GDP numbers are scheduled to be announced on Friday.
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The agency has kept its FY15 growth forecast unchanged at 5.6 per cent.
The early results from corporate India for the first quarter of 2015-16 are in, and these strongly suggest that a cyclical recovery is underway.
He also asked men to work towards securing for women their due place in society.
Govt to play enabler not handler, India never had more decisive government: PM Modi Prime Minister Narendra Modi on Monday cited his dispensation's push for wide-ranging reforms, including the privatisation of Air India, to assert that the country never had a more "decisive government". Launching the Indian Space Association (ISpA), an industry body aspiring to be the voice of the country's space sector, Modi noted that fields like mining, coal, defence and space have been opened to private players, and said his government's clear policy about public sector enterprises is to open those to private industry where its presence is not required. While opening a host of sectors, the government has built a regulatory environment in which priority has been given to national interest as well as the interests of different stakeholders, he said.
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
Investment in infrastructure was necessary for the economy, as power shortages, inadequate transport and poor connectivity affect overall growth performance, as per the Economic Survey 2019-20 tabled in Parliament by Union Finance and Corporate Affairs Minister Nirmala Sitharaman. "To achieve GDP of USD 5 trillion by 2024-25, India needs to spend about USD 1.4 trillion (Rs 100 lakh crore) over these years on infrastructure so that a lack of infrastructure does not become a constraint to growth," it said.
An opportunity to enter a burgeoning sector at a low valuation and favourable policies are propelling some of India's largest corporate groups to scoop up drone start-ups. "Indian corporations lost the race in aerospace and space tech. "No one wants to miss the bus this time. "These are seasoned businessmen and they realise that the market cap of tech companies with problem-solving capabilities will exponentially rise in future," says Vipul Singh, CEO of Aarav Unmanned Systems (AUS).
The International Monetary Fund, in its latest World Economic Outlook, projected an average growth rate of about 3.8 percent in market prices for India in fiscal 2013, which is expected to pick up to 5.1 per cent next year.
The party also promised to end the mafia raj by creating corporations for the sale of liquor and sand mining.
Index of industrial production data had also shown that the sector grew at 3.1 per cent after contracting in the previous quarters.
Tata Motors on Monday launched the country's first CNG truck in the medium and heavy commercial (M&HCV) vehicle segment in the 28- and 19-tonne nodes. Most truck makers, including Tata Motors, currently offer CNG only in the small and light commercial vehicle segments. The company also launched a fleet of seven trucks in the intermediary and light commercial vehicle (I&LCV) segment, meant for varied applications.
The economic growth slowed to a decade low of 5 per cent in the 2012-13 fiscal.
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