May GST collection grows 12% YoY to Rs 1,57,090 cr
Jun 02, 2023, at 03:20 am
New Delhi: The gross Goods & Services Tax (GST) revenue collected in the month of May stood at Rs 1,57,090 crore, the finance ministry said on Thursday.
Morgan Stanley hails India for its growth in last 10 yrs
Jun 02, 2023, at 03:00 am
Highlighting the reforms that took place in India since 2014, US-based financial services company Morgan Stanley in its latest report said “this India is different from what it was in 2013”.
India is different from what it was in 2013, gained position: Morgan Stanley Research report
Jun 01, 2023, at 01:46 am
A report published by Morgan Stanley Research said India has gained positions in the world order with significant positive consequences for the macro and market outlook.
Output of eight core sectors slows down to 3.5 pc in April
May 31, 2023, at 11:37 pm
New Delhi: The output of eight core infrastructure sectors slowed down to 3.5% in April 2023 as against 9.5% in April, 2022, revealed data released by the Ministry of Commerce & Industry on Wednesday.
May 31, 2023, at 06:20 pm
Mumbai: Around 80% of the total Rs 2000 notes received are deposited and the rest 20% are exchanged for smaller denominations as per market trends. Even if a fraction of these trends is extrapolated at the banking level, the liquidity in the banking system will shoot much higher compared to previous estimates of around Rs 1 trillion bulge in deposits even if a fraction, said SBI Ecowrap report on Tuesday.
India's FY23 GDP growth likely to surpass 7%, manufacturing sector to rebound: SBI report
May 27, 2023, at 07:00 am
Despite the global economic slowdown, India is expected to continue its showdown in pursuing a different pathway of zeroing in on drivers of growth, looking for a renewed surge in resilient manufacturing while supporting the services sector to embrace enhanced efficiency, an SBI report said on Friday.
With GDP surpassing $3.5 trn in 2022, India to be fastest-growing G20 economy: Moody's
May 24, 2023, at 05:41 am
New Delhi: India's GDP has surpassed USD 3.5 trillion in 2022 and the country will be the fastest-growing economy within the G-20 grouping in the coming years, US-based rating agency Moody's stated on Tuesday.
RBI transfers Rs 87,416 cr dividend to govt; Rs 40,000 cr more than expected
May 20, 2023, at 05:42 am
Mumbai: The central board of directors of the Reserve Bank of India (RBI) has given its approval for the transfer of Rs 87,416 crore as a dividend to the Centre, media reports said.
Core sector growth dips to five-month low of 3.6% in March
Apr 29, 2023, at 05:06 am
New Delhi: The combined output of India's eight core industries dropped to a five-month low of 3.6% year-on-year in March 2023 as against 7.2% in the previous month, data from Commerce Ministry showed on Friday.
Apr 29, 2023, at 02:26 am
Washington/New Delhi: India is expected to be the world's fastest-growing economy, despite facing significant challenges like financial sector turbulence, inflationary pressures, the impact of the Russia-Ukraine conflict, and the continued effects of the Covid-19 pandemic in the last three years, according to the International Monetary Fund's World Economic Outlook report.
IMF cuts India's FY24 growth rate to 5.9 pc
Apr 12, 2023, at 06:25 am
The International Monetary Fund (IMF) has reduced its GDP growth estimate for India for the financial year 2023-24 by 20 basis points to 5.9 percent.
FM Sitharaman holds roundtable with investors, biz leaders during US visit
Apr 12, 2023, at 01:55 am
Washington: Finance Minister Nirmala Sitharaman on Monday attended a roundtable meeting with business leaders and investors, co-hosted the by Confederation of Indian Industry (CII) and US-India Business Council in the US Chamber, in Washington, DC.
Indian economy continues to show resilience amid global uncertainties: World Bank
Apr 05, 2023, at 03:10 pm
New Delhi: India’s growth continues to be resilient despite some signs of moderation in growth, says the World Bank in its latest India Development Update, the World Bank India’s biannual flagship publication.
India's banking system strong amid turmoil in global markets: PM Modi
Mar 19, 2023, at 04:52 am
New Delhi: India's economic and banking systems remain robust, even in the midst of the current turmoil battering global markets, Prime Minister Narendra Modi said on Saturday.
Apple plans to make India its sales engine amid record revenues in the region: Report
Mar 10, 2023, at 01:17 am
iPhone maker Apple is focussing on India as its priority region amid a significant increase in demand for Apple products in the country. The plans include the elevation of its head of India and making the country sales engine for Apple, media reports said.
India's coal and power supply stretched to limit amid rapid growth in economic activities
Mar 09, 2023, at 02:19 am
New Delhi: The power generators and coal mines in India are currently experiencing significant pressure to keep up with the escalating demand for electricity, which has been fuelled by the country's rapidly expanding economy and swift electrification efforts, Reuters reported.
Moody's improves India's 2023 growth projection to 5.5% on higher capex allocation in Budget
Mar 02, 2023, at 05:20 pm
New Delhi/IBNS: Moody's Investors Service, on Wednesday, increased its prediction for India's economic growth in 2023 from 4.8% to 5.5%.
India’s GDP growth decelerates to 4.4 pc in Q3FY23, services sector continues robust revival
Mar 01, 2023, at 02:54 am
New Delhi: India's real gross domestic product (GDP) for the October-December quarter (Q3) of the current fiscal year decreased to 4.4%, compared to 6.3% in the previous quarter, according to data released by the Ministry of Statistics and Programme Implementation (MoSPI) showed on Tuesday.
India will continue to be world’s fastest growing economy for many decades: Piyush Goyal
Feb 26, 2023, at 07:38 am
Pune/UNI: The Indian economy will be closer to the 35-40 trillion-dollar mark by 2047 given the current pace of development, Union minister Piyush Goyal said on Saturday.
MeitY seeks proposals to estimate India's digital economy
Feb 23, 2023, at 06:02 am
New Delhi: The Indian government is looking to estimate the size of the country’s digital economy and in this regard the Ministry of Electronics and Information Technology (MeitY) invited proposals, media reports said.
India’s WPI inflation eases to 4.73 pc
Feb 14, 2023, at 10:38 pm
New Delhi: The Wholesale Price Index (WPI)-based inflation eased to 4.73 percent in January on an annual basis, data shared by the Ministry of Commerce showed on Tuesday.
RBI to announce first monetary policy of 2023 on Feb 8
Feb 08, 2023, at 06:59 am
Mumbai: Reserve Bank of India (RBI) Governor Shaktikanta Das will announce the first monetary policy of 2023 on February 8.
Feb 01, 2023, at 06:49 am
New Delhi/IBNS: India has a unique opportunity to lead the world with new models of digital access to healthcare, which can serve not only emerging markets but also developed markets given that countries across the globe face significant inadequacies around healthcare access and affordability, said Prashant Tandon, HealthTech Committee Chair & CEO & Co-Founder of TATA 1MG.
Feb 01, 2023, at 06:28 am
Bengaluru/IBNS: The government can bolster working capital for e-commerce suppliers by lowering GST on input services like logistics and facilitating refunds of accumulated input tax credit in the upcoming Budget, according to Vidit Aatrey, Founder & CEO – Meesho.
Feb 01, 2023, at 06:05 am
MumbaiIBNS: A lower GST on appliances will help improve the penetration levels in India which remains low despite the positive impact on the quality of life and productivity, according to Kamal Nandi, Business Head and Executive Vice President of Godrej Appliances.
Large budget deficit acceptable if it stimulates higher GDP: Nadir Godrej
Feb 01, 2023, at 05:31 am
Mumbai/IBNS: Speaking on the upcoming Union Budget, Godrej Industries Ltd.'s Chairman and MD - Nadir Godrej said global inflation, China's economic slowdown, the pandemic's aftereffects, and the conflict between Ukraine and Russia pose a great challenge for the Indian economy.
Feb 01, 2023, at 05:27 am
Kolkata/IBNS: The Union Budget should continue and provide the right policy and budgetary framework to ensure the economic growth of the country and a budget design that can stand as per the GDP growth rate expectations, according to Rajeev Sharma, Chief Strategy Officer, Mitsubishi Electric India Pvt. Ltd.
Feb 01, 2023, at 04:34 am
New Delhi/IBNS: The logistics sector expects Union Budget to prioritize the strengthening of logistics and related infrastructure that would lead to economic growth for the country as a whole, according to Nikhil Agarwal, President-CJ Darcl Logistics.
Feb 01, 2023, at 03:19 am
Mumbai/IBNS: The Economic Survey 2022-23 tabled by the Minister of Finance and Corporate Affairs Nirmala Sitharaman in Parliament on Tuesday has projected FY 2024 growth at 6-6.8%.
Unemployment rates fall from 5.8 pct in 2018-19 to 4.2 pct in 2020-21: Economic Survey
Jan 31, 2023, at 11:46 pm
New Delhi: The Economic Survey 2022-23 tabled by the Minister of Finance and Corporate Affairs, Nirmala Sitharaman in Parliament, on Tuesday states that while the pandemic impacted both labour markets, and employment ratios, now with sustained effort in the last few years, coupled with quick response after the pandemic, and the world’s largest vaccination drive being undertaken in India, labour markets have recovered beyond pre-Covid levels, in both urban and rural areas, as observed in supply-side and demand-side employment data.