BUSINESS
Core sector growth rises to 6.1% in July
Core sector growth was 5.1% in June
BUSINESS
Drone startups zoom in on India more than UK and China, double in count over 3 years
Top drone startups in India have seen a robust 279% rise in average funding, yet the country trails other nations in funding size
TRENDS
MC Daily Monsoon Tracker: Reservoir levels rise further to 19% above 10-year average
Rainfall surplus widens to a 20-day high of 6.92% above normal
BUSINESS
EAC-PM study explains why West Bengal and Bihar are stuck in low growth cycle
Punjab and West Bengal, which lag behind in national average in real per capita growth, were also the ones that invested the least on capex
BUSINESS
Smart Cities: 9 years on, over 20% of the cities have 25% of the work pending
Among the larger states, Telangana had the lowest completion rate of 60.7 percent, while Jharkhand had 100 percent completion and Odisha and Karnataka had 97 percent completion.
BUSINESS
Fitch affirms India’s rating at 'BBB-' with a stable outlook
Fitch expects Indian economy to expand 7.2 percent in FY25 and projects inflation to cool down to 4.6 percent for the year
BUSINESS
Moody’s raises India’s growth forecast to 7.2% for 2024
Growth estimate for 2025 also raised to 6.6 percent on back of expectations of strong performance of private consumption
BUSINESS
Lakshwadeep tops Jan Dhan account rich list; J&K reports 357% rise in average balance since 2017
The government is looking to expand the scope of the PMJDY scheme to track digital footprint of accounts in a bid to offer additional products and services to its beneficiaries.
TRENDS
MC Daily Monsoon Tracker: Nearly 60% of states face extreme rainfall conditions, 8 still in deficit zone
Kharif sowing has remained just 1.9 percent above last year’s despite normal rainfall
BUSINESS
Industrial smart cities to be ready by 2027: Commerce and industry minister Piyush Goyal
Industrial cities to create 30-70 million jobs, attract at least Rs 1.5 lakh crore investment
POLITICS
One woman cop for every 5,000 women in West Bengal, Madhya Pradesh in 2022: Govt data
While Andhra Pradesh has made significant gains in past four years in improving women representation in police force, West Bengal’s situation has worsened
BUSINESS
Banks to offer loans to Jan Dhan beneficiaries by tracking digital footprint: DFS secretary to Moneycontrol
The secretary noted that the government was also working towards linking more services with banking.
BUSINESS
10 years on, rural India takes the lead in Jan Dhan accounts; more rural accounts opened post Covid
530 million Indians got Jan Dhan accounts in the last decade. Direct benefit transfers aided the opening of accounts
BUSINESS
World Bank’s new ease of doing business methodology: DPIIT asks ministries to conduct sample evaluation
DPIIT has also asked the ministries to identify areas where the scores could be lower and come up with a plan to address the gaps
TRENDS
MC Daily Monsoon Tracker: Kharif sowing up 1.9% from the previous year
Paddy acreage is 4.3 percent above 2023 levels, while area under pulses is 5.7 percent higher
BUSINESS
India’s digital infrastructure differentiates it from many of its emerging market peers: Moody’s
Moody’s Ratings in a research note has said that India’s infrastructure will help support growth, create jobs and give sectors like consumer goods, transportation a boost.
BUSINESS
Carbon tax best solution to make up for revenue loss from fossil fuel transition, says CSEP study
The government will find it difficult to balance household burden, growth and emission impact by using alternative tax methods to cover for the revenue loss caused the shift away from fossil fuels, says the study
TRENDS
MC Daily Monsoon Tracker: More than half of the states face extreme rainfall conditions
Seven states witnessed deficient rainfall as of August 26, while 12 faced excess rainfall conditions
BUSINESS
Penalty for giving wrong info as statistics ministry releases draft rules
The government has sought public comments on new rules that propose fines for failing to furnish information or giving wrong information for statistical purposes. Earlier, the offence led to criminal proceedings
BUSINESS
Which states bear the highest burden of pension?
In the case of Bihar, pensions accounted for 58 percent of the state's own tax revenue in FY24, while 53.8 percent of Assam's earnings went towards annuity payments.
BUSINESS
India’s growth slowed to a five-quarter low of 6.8% in Q1FY25: MC Poll
Full-year growth projection of 7 percent is lower than the RBI’s estimate of 7.2 percent. Inflation to be contained at 4.5 percent, shows the median of a poll of 13 economists.
TRENDS
MC Daily Monsoon Tracker: Rainfall surplus rises above 5%, but parts of North and East remain in deficit zone
Rainfall has remained in surplus territory for over a month now
BUSINESS
11% return on the pension corpus would mean no additional burden for the government
If returns are below 11.5 percent, burden may increase on the government
BUSINESS
Central government pension spending to rise by double digits in FY26
The government’s pension bill, excluding railways and defence, is expected to be Rs 79,241 crore in the current fiscal
