Nominal GDP to grow at 15.4 pct in FY 2022-23
New Delhi: According to the Fiscal Policy statements the Nominal GGP is projected to grow at 15.4 % year-on-year (Y-o-Y) in FY2022-23 as against 19.5% in 2021-22.
Finance
Union Budget 2023: In polls-bound India, FM Sitharaman announces big relief to taxpayers, ramps up capital spending
New Delhi/IBNS: Ahead of the 2024 general elections in India and polls in key states this year itself, Union Finance Minister Nirmala Sitharaman on Wednesday presented the annual budget offering a big relief to the taxpayers while emphasizing on job creations and ramping up capital spending.
Private investments in tier 2+ towns must be given tax incentives to boost digital healthcare access
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.
Lower GST on input services like logistics to bolster working capital for e-commerce suppliers: Vidit Aatrey, Meesho Founder & CEO
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.
Lower GST on appliances, stimulus to middle-class will address low penetration: Kamal Nandi, Business Head Godrej Appliances
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
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.
Budget must allocate funds for multimodal logistics parks to maintain rapid growth of logistics sector: Expert
Budget must allocate funds for multimodal logistics parks to maintain rapid growth of logistics sector: Expert
73% expect reduction in prices of essential items from Budget 2023
Mumbai/IBNS: Reduction in the price of essentials is the biggest expectation from the 2023 budget, according to a pre-budget survey conducted by Consumer data intelligence company Axis My India.
Economic Survey: 6-6.8% FY24 growth prediction slightly stretched amid global slowdown; fiscal deficit target must be met, say experts
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
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.
Assam couple builds 6 crore eatery chain in Guwahati
Guwahati: Deba Kumar Burman and Pranamika, whose marriage was no less than a fairytale story, are now prominent names in Assam as they created a Rs 6 crore turnover restaurant chain in Guwahati.
Nearly 22 crore beneficiaries verified under Ayushman Bharat Scheme: Economic Survey
New Delhi: As many as 21.9 crore beneficiaries have been verified under the Ayushman Bharat Pradhan Mantri – Jan Arogya Yojana (AB PM-JAY) Scheme including 3 crore beneficiaries verified using State IT systems as on January 4, 2023.
National COVID-19 vaccination programme meets its goals by overcoming R&D and logistical challenges, reveals Economic Survey
New Delhi: Elaborating on success story of India’s National Covid-19 Vaccination Programme, the Economic Survey 2022-23, tabled by Union Minister of Finance and Corporate Affairs Nirmala Sitharaman, says that as on 6 January 2023, India has been able to administer more than 220 crore Covid vaccine doses across the country.
Overall Gross Value Added moves up by 3.7 pct in first half of FY23: Economic Survey
New Delhi: The Overall Gross Value Added (GVA) by the Industrial Sector rose 3.7 per cent, based on data available for the first half of the FY23, which is higher than the average growth of 2.8 per cent achieved in H1 of the last decade, stated the Economic Survey 2022-23 presented by the Union Minister for Finance & Corporate Affairs Nirmala Sitharaman in Parliament on Tuesday.
Availability and spread of digital infrastructure to contribute significantly to economic growth: Economic Survey
New Delhi: While the role of traditional infrastructure has been well recognised, in recent years, the role of digital infrastructure in socio-economic development of the country has assumed an increased importance, revealed the Economic Survey.
Indian stock markets outperform peers in FY 2022-23: Economic Survey
New Delhi: Economic Survey 2022-2023 highlights buoyant performance of the Indian capital markets in the past year, driven by increased contribution of Small & Medium Enterprises (SMEs) and greater participation of domestic institutional and retail investors.
Rs 5 cr in Capex budget to transform Jammu University into sports hub
Jammu: Already excelling in the field of academics, the University of Jammu with international standard infrastructure in the making, with an upcoming Rs 5 crore in the Capex budget for the year 2023-24 is all set to transform the institution into a hub of sports.
Cleaner balance sheets lead to enhanced lending by financial institutions: Economic Survey
New Delhi: The balance sheet clean-up exercise over the last few years has enhanced the lending ability of financial institutions – seen in double-digit growth of non-food credit offtake by Scheduled Commercial Banks (SCBs) since April 2022, as per the Economic Survey 2022-2023 released on Tuesday.
India's external sector displays position of strength in spite of global headwinds: Economic Survey
New Delhi: India has been able to face the headwinds to its external sector from a position of strength in the back of strong macro fundamentals and buffers, as per the Economic Survey released on Tuesday.
India to witness GDP growth of 6 to 6.8 pct in 2023-24: Economic Survey
New Delhi: India to witness GDP growth of 6.0 per cent to 6.8 per cent in 2023-24, depending on the trajectory of economic and political developments globally, as per the Economic Survey released on Tuesday.
IMF projects India is going to be world's fastest economy in 2023, global growth to drop to 2.9 pct
New York: The International Monetary Fund (IMF) on Tuesday released its latest projections on world economic growth where India was seen to be growing at the rate of 6.1 per cent in 2023.
Indian Market: Sensex improves 169.51 pts
Mumbai: The BSE Sensex on Monday recovered 169.51 pts to close at 59,500.41 following gains in IT, Technology and Telecommunications stocks.
Philips to scrap 6,000 jobs in its bid to improve profitability
Amsterdam: Dutch health technology company Philips on Monday said it will scrap 6000 jobs to restore the company's profitability, media reports said.
Kolhapur-Sangli road to be made of cement concrete to prevent potholes: Gadkari
Kolhapur: Union Road Transport and Highways Minister Nitin Gadkari Saturday said the Kokhapur-Sangli highway would be constructed of cement concrete to prevent potholes on the arterial stretch for the next 50 years.
Despite muted response from retail investors, Adani Enterprises says FPO on track
Mumbai: Adani Enterprises has maintained that its Rs 20,000 crore Follow on Public Offer (FPO) is well on track despite a muted response across investor categories amid a market rout in the group’s share.
Centre to increase India's exploration acreage to 1.0 million sq. km. by 2030: Hardeep Singh Puri
Mumbai: The government intends to increase India's exploration acreage to 0.5 million sq. km. by 2025 and 1.0 million sq. km. by 2030, Union Petroleum and Natural Gas Minister Hardeep Singh Puri said on Saturday.
Exactly How Frequently Should I Check My CIBIL Score? What's The Myth? What’s The Truth?
A credit score is the numeric representation of an individual’s credibility as a borrower. Although there are various other credit scores like FICO score, Equifax score, etc., most lending institutions take a ‘good’ or ‘high’ CIBIL score as one of the eligibility parameters, especially for unsecured loans. They check the CIBIL score while approving secured loans to get an assurance that their customers will not default.
Govt's rice procurement to reach previous year's level of 592 lakh tonnes
New Delhi/IBNS: Centre’s rice procurement is expected to be equal to last year's level of 592 lakh tonnes in the current 2022-23 marketing year ending September, despite an estimated decline in Kharif output, media reports said.
Govt to invite EoI for Rs 41,000 cr international transhipment port at Great Nicobar Island
New Delhi/IBNS: The Ministry of Ports, Shipping and Waterways will invite Expressions of Interest (EoI) for the development of Mega International Container Transhipment Port (ICTP) at Galathea Bay of Great Nicobar Island of Andaman and Nicobar Islands in the Bay of Bengal.
Global economy likely to shrink but worst may be over: RBI Governor
New Delhi/IBNS: The global economy is likely to shrink significantly this year but the worst—both in terms of growth and inflation—appears to be over, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday, media reports said.