Sunday, Dec 04, 2022

Upswing in services sector but SMEs and exports to slow manufacturing

December 2, 2022 8:43:30 am

While the services sector is seen as improving further in the coming quarters as Covid concerns wane, manufacturing output, which registered a contraction of 4.3 per cent in the latest reported quarter, is unlikely to show a strong rebound.

Car sales jump in November on high demand, better chip supply

December 2, 2022 3:37:37 am

Resumption of chip supplies to near normal levels boosting production, strong retail demand and new model launches in the SUV segment have led to the strong growth.

Unemployment rate rises to three-month high at 8% in November: CMIE

December 1, 2022 9:23:08 pm

The unemployment rate in urban India was higher at 8.96 per cent, while in rural areas, it was at 7.55 per cent, the CMIE data showed on Thursday.

november gst collections

GST collection grows 11 per cent to Rs 1.46 lakh crore in November

December 2, 2022 3:33:19 am

This is the ninth month in a row that the revenues have remained above the Rs 1.4 lakh crore mark. However, the collection in November was the lowest since August.

Revenue Secy Sanjay Malhotra

Sanjay Malhotra takes charge as Revenue Secretary

December 1, 2022 1:54:57 pm

A 1990-batch IAS officer of the Rajasthan cadre, Malhotra was working as an officer on special duty (OSD) in the revenue department since October this year.

india manufacturing pmi

India’s manufacturing PMI hits three-month high in November

December 2, 2022 3:42:15 am

Posting 55.7 in November, up from 55.3 in October, the seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index signalled the strongest improvement in operating conditions for three months.

High input prices hurt manufacturing, pull down Q2 GDP growth to 6.3%

December 1, 2022 4:59:50 am

The GDP data, although lower than expected, suggests the economy continues to recover post the adverse impact of the Covid-19 pandemic, with the agriculture and the services sectors posting a growth of over 4 per cent for the third straight quarter.

Southern states push back: Common power network may miss Dec 1 deadline

December 1, 2022 4:38:04 pm

While the CERC has not announced the postponement officially, a short statement from the Central Transmission Utility (CTU) said: “Notification for submission of fresh applications for connectivity and GNA and their processing and grant of GNA Regulation has not been received by CTU till 25.11.2022.

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Q2 GDP India: India’s economic growth slows to 6.3% in July-September quarter

December 1, 2022 12:05:40 am

Q2 GDP Growth Rate India: While the GDP had expanded by 8.4 per cent in the corresponding quarter of 2021-22, it saw a growth of 13.5 per cent in the preceding April-June quarter of 2022-23. 

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S&P cuts India’s economic growth to 7% for FY23

November 29, 2022 11:04:36 am

S&P has also projected the Indian economy to grow 6 per cent in 2023 and 6.9 per cent in 2024.

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India’s economy likely slowed to annual 6.2% in July-September: Report

November 28, 2022 11:02:05 am

The 6.2% annual growth forecast for latest quarter in a Nov. 22-28 Reuters poll of 43 economists was a tad lower than the RBI's 6.3% view. Forecasts ranged between 3.7% and 6.5%.

Amid uncertainty, falling risk appetite, India fared better than major economies: CEO, PGIM India Mutual Fund

November 28, 2022 8:26:03 am

While inflation and interest rate hikes have been major concern for economies and markets, he said that three-six months back people were very concerned about inflation and interest rate hikes, but today much of that has already got priced in or done

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CII urges RBI to moderate pace of monetary tightening

November 28, 2022 4:07:14 am

The next meeting of the Monetary Policy Committee (MPC) will be held from December 5 to 7

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Fiscal challenges loom as job plan, subsidies drive up expense

November 27, 2022 8:10:53 am

While an upside in GDP calculations in nominal terms due to high inflation will likely help the fiscal arithmetic, additional levies in the form of windfall taxes and excise duties that were expected to potentially boost the government’s revenue kitty during the year are now expected to come in at lower than expected levels.

Centre releases Rs 17K crore GST compensation to states, UTs

November 26, 2022 7:46:47 am

With this release, the Centre has paid in advance, the entire amount of cess estimated to be collected this fiscal and which would have been available for payment as compensation to States.

Centre releases Rs 17k cr GST compensation to states; total Rs 1.15 lakh cr released this fiscal

November 26, 2022 8:00:02 am

Goods and Services Tax (GST) was introduced in the country with effect from July 1, 2017, and states were assured of compensation for the loss of any revenue arising on account of the implementation of GST for a period of five years.

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Global slowdown may dampen India’s exports: Finance Ministry report

November 25, 2022 12:37:33 am

So far in the current year, India’s food security concerns have been addressed and will continue to receive the utmost priority from the government, according to the report.

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Bringing back old pension system is one of the biggest revdis: Montek Ahluwalia

November 25, 2022 10:14:37 pm

Many political parties have spoken about reverting to the Old Pension Scheme. Congress has already reverted to the Old Pension Scheme in Rajasthan and Chhattisgarh, and AAP has said it would do the same in Punjab.

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Private capex improving: Chief Economic Advisor V Anantha Nageswaran

November 25, 2022 12:22:33 am

Speaking on growth, he said India's growth projections for FY2023 made by RBI and international and private sector participants is around 6.5-7 percent and this appears to be reasonable at this point in time.

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Economic growth to fall to 5.9 per cent in 2023: Goldman Sachs

November 24, 2022 2:26:34 am

For the fiscal year 2022-23, the investment bank hasn’t cut the GDP growth estimate for India, unlike many other agencies -the country’s economic expansion in the year has been pegged at 7.1 per cent, marginally higher than 7 per cent forecast earlier.

India to see unprecedented explosion in economy: Mukesh Ambani

November 23, 2022 4:19:48 am

Ambani said the current year marks the beginning of India's Amrit Kaal, regarded as the most auspicious time to start anything new, and expects the country to become a $40 trillion economy by 2047.

Rural daily wages: Gujarat, Madhya Pradesh farmers lowest paid; Kerala, J&K at the top

November 23, 2022 7:10:27 am

According to data compiled by the Reserve Bank of India (RBI), in Madhya Pradesh, male agricultural workers in rural areas got a daily wage of just Rs 217.8 while in Gujarat, it worked out to Rs 220.3 in the year ended March 2022.


India’s fiscal consolidation trend intact; to see strong revenues, debt stabilisation: Moody’s

November 22, 2022 5:17:30 pm

Moody's Investors Service Senior Vice President Christian de Guzman said India's 'Baa3' sovereign rating balances its strength of relatively high economic growth and weakness of one of the most highly indebted emerging market sovereigns. The country's healthy financial system is reflected in deleveraging by Indian corporates.

India not decoupled from world; will face some slowdown: Deepak Parekh

November 22, 2022 4:35:33 am

“India is not decoupled from the world and India too will face some slowdown. But there is a consensus across the board that India will still remain amongst the fastest growing major economies in the world,” Parekh said, while addressing the World Congress of Accountants.

Pre-Budget Consultations: India Inc suggests I-T cuts, job creation, capex boost

November 22, 2022 4:15:29 am

Going forward, to provide tax certainty to businesses, the corporate tax rates should be maintained at the current levels, he said adding "further simplification, rationalisation, ease of paying taxes, and reducing tax litigation should be key priorities."