BUSINESS
Can nominal growth slip cast a shadow on fiscal deficit?
India’s nominal growth may dip to 9.7 percent in FY25, a tad higher than the previous year’s 9.6 percent but lower than the budget target of 10.5 percent
BUSINESS
India's GDP may grow at four-year low of 6.4% in FY25: Govt's first advance estimates
The first advanced estimates released by the government showed that growth is likely to settle below the 7 percent mark for the first time in four years
BUDGET
India's defence spending up 50% since 2020
The compounded annual growth rate of defence capex was 9.1 percent between 2019-20 and 2024-25, compared with 6 percent between 2014-15 and 2019-20
BUSINESS
Tomatoes, potatoes, weddings and festival season keep thali prices up in December
The two vegetables, which account for 24 percent of the cost of a home-cooked meal, have been witnessing double-digit inflation
BUSINESS
Govt has exceeded its budget on gender post-Covid
The revised spending of Rs 2.75 lakh crore was 15.5 percent higher than the Budget estimate of Rs 2.38 lakh crore for FY24
BUSINESS
Why falling rural unemployment is not a reason to cheer just yet
While the proportion of people employed in agriculture has fallen since FY12, MC analysis shows that the trend has slowed over the last decade
BUSINESS
India’s services activity rises to a 4-month high of 59.3 in December
India’s economy is expected to perform better in the third quarter compared with the previous quarter when growth slumped to a near two-year low of 5.4%
INDIA
21 of 36 states/UTs witnessed decline in student enrollment in 2023-24, Bihar performs worst
As dropout rates worsen for upper primary classes (6-8) in Bihar, UP witnesses a massive decline in dropout rates in 2023-24
BUSINESS
Over 80% of schools in Bihar and West Bengal don’t have access to the internet
While over half of the schools across the country had access to the internet, Bihar had 18.5 percent of schools with internet facilities, while West Bengal had just 17.5 percent of schools with the internet.
INDIA
Bihar leads in school additions in 2023-24, but lags in basic facilities
While the state added 3,000 schools in FY24, a 3.5 percent increase over the previous year, the percentage of schools with functional electricity, girls' toilets, and drinking water facilities declined, according to a Moneycontrol analysis
BUSINESS
Rural poverty falls below 5% for the first time in FY24
In urban areas, the decline was less pronounced at 4.09 percent in 2023-24 compared with 4.6 percent in the previous year
BUSINESS
MoSPI to start annual unemployment, health surveys from January
As part of these changes, the government plans to release monthly unemployment data for both rural and urban areas, an addition to the existing monthly releases of industrial production, consumer inflation, and social security scheme enrollments.
BUSINESS
Economy sputters in Q3, as data throws mixed signals
Goods and Services Tax collections remained above Rs 1.7 lakh crore mark for the tenth month in a row in December, but the pace of growth declined further to 7.3 percent.
BUSINESS
Crop insurance is growing, but also needs to become more inclusive
A Moneycontrol analysis shows that the share of marginal farmers enrolled for the schemes has declined over seven years
BUSINESS
Working group set up for Wholesale Price Index revision, mapping roadmap for new series
The Niti Aayog member Ramesh Chand-led working group will also recommend changes to the price collection mechanism and computational methodology
BUSINESS
Manufacturing PMI slips to a 12-month low of 56.4 in Dec
The HSBC India Manufacturing Purchasing Managers’ Index declined to 56.5 in November, compared with 57.5 the previous month.
BUSINESS
December GST collections rise 7.3% YoY to Rs 1.77 lakh crore
GST collections stood at Rs 1.65 lakh crore in the year-ago period
BUSINESS
UPI transaction value stays above Rs 20 lakh crore for 8th straight month in Dec
Volumes at 16.73 billion hit their highest mark. Daily transaction value also rises from the previous month
BUSINESS
India’s core sector growth rises to four-month high of 4.3% in November
Industrial production had increased to a three-month high of 3.5 percent in October, helped by the festive season push
BUSINESS
India's April-November fiscal deficit at Rs 8.5 lakh crore or 52.5% of FY25 target
Despite a pickup, capex spending was at 46.2 percent of the budgetary goal of Rs 11.1 lakh crore, compared with 58.5 percent spent during the April-November period last fiscal
BUSINESS
Arts and antiques in vogue for aesthetic Indians, imports surge 62% in 2024
Antiques saw the highest increase in imports, with India importing $79 million products in the first 10 months of 2024, clocking a 376 percent surge over the previous year. Paintings were the main draw
BUSINESS
Govt to adopt new approach to track cost overruns: Sources
The new system is expected to standardise how cost overruns are calculated across ministries
BUSINESS
Telangana and AP give more via social welfare programmes than Bihar, UP and Jharkhand
The impact of social welfare programmes on consumption was higher in Telangana, with imputed value of consumption 4.4 percent higher in rural areas than household spending without freebies, while UP’s consumption was much lower at 2.8 percent
BUSINESS
Australia-India trade has become more diversified since trade agreement in 2022: MC Analysis
The share of top 10 exported goods from India to Australia came down to 63.5 percent in the first 10 months of 2024 compared with 68.6 percent in 2022, prior to the agreement’s signing in December 2022
