BUSINESS
MOSPI preparing Vision 2029 document with focus on AI, ML
The document is also likely to lay down a year-wise plan for the ministry to work towards
BUSINESS
Guaranteed pension model will hurt states more than the Centre
A larger proportion of their revenue goes into servicing pensions
BUSINESS
Industry, services added 33% more jobs between FY14 and FY23: SBI Research
Employment addition in FY24 also points to an increase in better-paid jobs in the economy
TRENDS
MC Daily Monsoon Tracker: Nine states witness excess rainfall
India received 1.2% more than normal rainfall as of July 9
BUSINESS
Modi-Putin meet: India needs a solution for the ballooning trade gap with Russia
From being India's ninth largest import source nation in May 2022, Russia now occupies second place. But when it comes to exports, Moscow ranks a distant 25th.
BUSINESS
States need to nearly double growth to achieve $1-trillion economy goal in time
All states are set to miss their respective $1-trillion economy goal
BUSINESS
Moody’s keeps India’s 2024 growth unchanged at 6.8%
The rating firm predicted Indian economy to grow 6.4% in 2025; inflation to ease to 5.2% in 2024 and 4.8% in 2025
BUSINESS
MC Daily Monsoon Tracker: Sowing picks up as rainfall situation improves
Paddy, pulses and oilseeds acreage up 50 percent on year as of July 5
BUSINESS
India added 2.5 times more jobs in FY24, highest since 1981-82: RBI data
The total additions to the workforce at 46.7 million were the highest since 1981-82, according to calculations, with the rate of growth at 6 percent also outpacing the previous three decades.
BUSINESS
Indian tourists future growth engine for global tourism: OECD
Rapid expansion of the middle classes and scaling up of air connectivity in India a major factor
BUSINESS
India's informal sector surges post-pandemic: 9% increase in firms, Rs 2 lakh crore output boost
The share of the informal economy declined or barely increased for more industrialised states such as Maharashtra, Gujarat, and Karnataka, where formalisation may have happened faster
BUSINESS
Fewer women join better paying formal jobs in FY24, gig works see record rush
Participation in low-paying jobs rose to the highest level in seven years
BUSINESS
MC Daily Monsoon Tracker: These 19 states are receiving normal rainfall
The rainfall surplus rose to 1.8 percent on July 7 compared with 0.8 percent on the previous day, with no state facing a rainfall deficit of over 50 percent for the first time in over a month
BUSINESS
Andhra Pradesh, Punjab see nearly 40% rise in fixed assets in 2022-23
Outstanding loans per establishment also rise faster in these states compared with the rest of the country.
TRENDS
MC Daily Monsoon Tracker: India’s rainfall deficit turns to surplus
Rainfall over the last week has also helped restore reservoir levels
BUSINESS
Informal firms in Goa, Maharashtra, and Karnataka more digitally connected than the rest of country
The gap between urban and rural internet usage has also narrowed sharply within a year. Internet usage of informal firms in urban areas was just over twice that in rural informal firms in 2022-23, compared with a gap of nearly three times in 2021-22
TRENDS
MC Daily Monsoon Tracker: Only 10 states face rainfall deficit now
Twenty-six states now face normal or above-normal rainfall
BUSINESS
Internet usage jumps in informal sector companies: Govt data
Internet usage by the informal sector for taking and placing orders, using UPI increased by almost 50% in 2022-23
BUSINESS
Budget 2024: Govt has outspent its initial budget allocation on MGNREGA by 30% over the last decade
The divergence between the actual spending and initial budgets has increased post-Covid. The increase in outlay has also happened irrespective of agriculture output for the year.
TRENDS
MC Daily Monsoon Tracker: Rainfall deficit narrows further to 3%
Chandigarh is the only region in the country with over 50 percent rainfall deficit
BUSINESS
Bad idea to include petroleum in GST, says former chief economic advisor Arvind Subramanian
Absorb cess in regular rate structure so that it is available for redistribution, former CEA argues
BUSINESS
Budget 2024: Spending on pension declined in FY24, likely to fall further
The current pension bill at 5.3 percent starkly contrasts with 2.1 percent of the budget spent on pensions in 1990-91 and 4 percent at the turn of the 21st century.
TRENDS
MC Daily Monsoon Tracker: These thirteen states are facing rainfall deficit
Rainfall deficit further narrowed to 4.4% on July 3
BUSINESS
India could grow over 8% if it resolves infra bottlenecks: S&P analyst
Reduction in fiscal deficit will have to be largely driven by the central government. A reduction in fiscal deficit an lead to an upgrade in rating
