The proposed investment will be made over a period of five years in our India operations, which includes an R&D facility at Pune and another centre at Vadodara.
India's economic growth slowed to 3.1 per cent in January-March and to an 11-year low of 4.2 per cent for the full fiscal 2019-20 amid a drop in consumption and investment. The Gross Domestic Product (GDP) growth stood at 5.7 per cent in the corresponding quarter of 2018-19, according to data released by National Statistical Office (NSO) on Friday.
GVA growth in the manufacturing, farm and construction sectors tumbled.
The greatest disconnect lies in the estimates of industrial growth.
In the manufacturing sector, output is expected to decline by about 70 per cent as only food-processing, and drugs and pharma industries are allowed to operate while other segments, such as engineering and metals, have shut operations.
'I cannot cope with the demand. It will take us a couple of months to ramp up production.'
Market sources said other brokerages are also looking to streamline their business models as market volatility, along with increasing competition, has taken a toll on earning yields.
According to a calculation by the government, India's airlines currently have 633 aircraft of which they may operate only 200.
Rates may be raised from 5 per cent to 8 per cent and 12 per cent to 15 per cent. The Council can explore possibility of merger of slabs to bring down the number of slabs to three. The Central GST collection fell short of the Budget Estimate by nearly 40 per cent during the April-November period of 2019-20
It is time he stood up and assured the middle class that they can count on him as one of their own, says Dr Sudhir Bisht.
Total revenue came in at Rs 20,422 crore for the September quarter, which was 6.2 per cent lower than Rs 21,777 crore notched in the year-ago period.
Given the military's requirement for watertight cyber and communications security, L&T will establish a Security Operations Centre which will deal with security threats.
'Nirmalaji's Budget announcements have long-term implications and are not backed by enough money when the short-term outlook looks bleak,' notes T N C Rajagopalan.
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5 commodities namely crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) were kept out of GST's purview given the revenue dependence of state governments on these sectors.
The agency attributed the sharp revision to various high-frequency indicators showing a softness and partly blamed the same to reforms like GST, real estate regulation, and the bankruptcy code which are still a "drag" on the economy.
A pick-up in farmer income could have a cascading impact on the rural economy, though agriculture is becoming a smaller part of India's overall rural incomes.
Aviation turbine fuel or jet fuel price was on Wednesday hiked by a steep 9.2 per cent, while that of non-subsidised cooking gas was raised by Rs 21 per cylinder.
Stating that recent agriculture reforms have opened new opportunities, the RBI Governor said the farm sector is emerging as a bright spot.
The fall in investment rate is not surprising. But putting it together with rising share of wages in GVA, it shows that the focus is more on productivity, rather than adding new capacity, says Pronab Sen, former chief statistician of India.
If imputed inflation for April and May is used, then you have inflation of over 6 per cent for two consecutive quarters, which is a worrying signal for the RBI.
The oil sector has been quite lucky for the Modi government. It has often provided an opportunity to the government to mend its finances, notes A K Bhattacharya.
Analysts, however, predict it would be an uphill climb for export-reliant China's economy going forward as it faced intensified conflict with the US and the negative fallout on its external trade due to Beijing's increasingly aggressive policies towards countries like India resulting in bans of its products and services.
He said South Africa would like to export more value added products to these countries, according to the daily Business Report.
Despite a massive decline in crude oil prices since 2012 -- Modi has been prime minister in six of these eight years -- petrol in Delhi has become 10 per cent costlier and diesel 97 per cent, as of July 2.
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In August, the Fed announced that it would develop a "new interbank 24x7x365 RTGS with integrated clearing functionality to support faster payments in the United States". The Fed Board asked for comments on FedNow by November. In reply to this, Google mentioned its experience of launching Google Pay -- Google's payments app which uses the UPI -- in India.
To improve compliance, govt may introduce lottery reward for filing GST. The Consumer Welfare Fund, where anti-profiteering proceeds are deposited, will be used to reward the lucky winners on monthly and annual bases. The prize money, yet to be fixed, may run into several lakhs of rupees for the annual draw, and about Rs 50,000 for monthly draws.
To address this, OnMobile Global, a leading provider, is de-risking its business model by growing its international business.
'The answer for a quicker boost to growth is simple -- run a much larger deficit, use the resulting public resources to ensure adequate price support for agriculture, subsidise wage costs of MSMEs and accelerate public sector construction-intensive activities,' advises Nitin Desai.
During the six-month period (April-September 2019), the Indian economy grew 4.8 per cent as against 7.5 per cent in the same period a year ago.
China is keen to rebalance its economy towards higher consumption, services, technology use and value-added exports. The hope is that its currency will strengthen as the world embraces it as a global trade and reserve currency, say Abheek Barua & Bidisha Ganguly.
Most employment surveys suffer from drawbacks such as limited data coverage, infrequent data collection, and time lag
Industry body Assocham has released a study paper, titled 'Mobile value added services' a vehicle to usher in inclusive growth and bridge the digital divide' on which Trai is seeking comments from various service operators by February 11, Trai said.
Strategic direction post-COVID-19 and further details on asset monetisation are key expectations from the 43rd AGM of RIL, analysts said.
The aim of the exercise was to further simplify GST forms and make the filing process more user-friendly, the finance ministry said in a tweet, reports Dilasha Seth.
According to the PwC report titled -- Value Added Service: The Next Wave -- it is now time for India to evolve from the well established mobile messaging and commoditised voice play to focus on customer segmentation based data play.
Beside manufacturing, deceleration was also witnessed in sectors like agriculture, construction and electricity, gas and water supply.
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