BUSINESS
Spending rejigs to aid welfare spend while maintaining fiscal prudence in Budget 2024: Sources
One way to use the higher RBI dividend could be to lower the fiscal deficit target further, given that there is scope to reorient spending towards schemes that boost consumption. The full Budget will be presented on July 23.
BUSINESS
India’s industrial output growth slows to 5% in April
Based on use-based classification, top three positive contributors to the growth of IIP for the month of April 2024 are primary goods, construction goods and consumer durables.
ECONOMY
Shipping Corp strategic sale may proceed without further delay: Govt official
The Maharashtra cabinet has already given a stamp duty exemption. The SCI building in Maharashtra is now with its demerged entity, Shipping corporation of India Land and Assets Limited.
BUSINESS
Excl: Govt likely to decriminalise minor I-T offences in Budget
The Government is looking at compounding the offences so that there is no prosecution for minor offences, only penalty.
BUSINESS
Modi 3.0 to usher in reforms with focus on taxation, rural economy, exports
The government is prioritising the decriminalisation of certain key legal provisions to enhance the ease of doing business.
BUSINESS
Urban Tamil Nadu ranks second highest in non-veg consumption in South India: Survey
Tamil Nadu's urban sector consumed 12.3 percent of their total food expenditure on non-vegetarian items in 2022-23.
INDIA
Kerala leads in non-vegetarian food consumption in India, survey reveals
In comparison, rural Assam spends 20 percent and urban Assam 17 percent of their food budget on non-vegetarian food.
BUSINESS
Rural India spent maximum of food expenditure on processed food, beverages in 2022-23: Survey
The share of food in total consumption expenditure of rural households varies from 39 percent in Kerala to 54 percent in Bihar and Assam.
BUSINESS
Urban-rural consumption expenditure differential falls to 75% in 2022-23: Survey
The average MPCE at Rs 10,501 of the top 5 percent of the rural population is about 7.6 times of the average MPCE at Rs 1,373 of bottom 5 percent of India’s rural population.
BUSINESS
Rural India spent lowest 6.2% on education among non-food in 2022-23: MoSPI Survey
On conveyance, the rural and urban sectors spent 14.1 percent each of their non-food expenditure in 2022-23, the survey showed.
LOK-SABHA-ELECTION
Will Modi 3.0 reconsider the structure of the controversial Agnipath scheme?
The BJP finds itself in a bind over the controversial short-service scheme implemented for the armed forces. It is being cited as one of the reasons for the BJP’s loss of seats in the Hindi heartland. Key ally JD(U) has also sought a review of the scheme.
LOK-SABHA-ELECTION
Can Chandrababu Naidu work closely with Narendra Modi the way he did with AB Vajpayee?
Naidu's views on reservation differ widely from PM Modi's views. Here's a snapshot of the TDP leader's politics.
BUSINESS
A healthier rural economy for Modi 3.0
A better monsoon, rural income picking up, and faster growth in private consumption could signal a recovery in the rural economy and augur well for the prospects of the new government, which will take charge in the coming days.
LOK-SABHA-ELECTION
NDA leaders pledge support for PM Modi's efforts to eradicate poverty, his vision for Viksit Bharat
The NDA partners in the discussions at the PM residence said that Modi has a clear vision for Viksit Bharat and they are partners in this goal
BUSINESS
Did rural distress impact India’s Lok Sabha election results?
“Rural distress has not been receiving adequate attention from policymakers. The MGNREGA and subsidy allocations have been coming down in the last 2-3 years. This requires analysis and necessary adjustments by policymakers,” DK Srivastava, Chief Policy Advisor, E&Y, said.
BUSINESS
GDP growth surpasses estimates at 7.8% in Q4; FY24 tops 8%
India is seen growing 8.2 percent in 2023-24 thanks to the manufacturing and mining sector. However, farm sector GVA is seen slowing down to 1.4 percent in FY24 against 4.7 percent in 2022-23.
BUSINESS
ED attached Rs 64,920 crore in 1,105 bank frauds, FM says on revival of PSU lenders
"There has been no leniency in recovering bad loans and the process is ongoing."
BUSINESS
Self-employment fuels drop in unemployment in India: Entrepreneurial rise or coping mechanism?
The labour force participation rate, the workforce participation rate and the unemployment rate showed long-term deterioration in India between 2000 and 2019 but improvement thereafter, an International Labour Organisation report said.
LOK-SABHA-ELECTION
S&P may upgrade India’s rating by FY27: SBI report
S&P may raise the ratings if India's fiscal deficits narrow, meaningfully and general government debt falls below 7 percent of GDP on a structural basis.
BUSINESS
India's GDP growth may have moderated to 6.5% in January-March
For 2023-24 as a whole, economists think the statistics ministry may show GDP growth at 7.7-7.8%, higher than the second advance estimate.
LOK-SABHA-ELECTION
From wealth redistribution to guarantees to corruption under UPA- the key themes that dominated this election
Electoral discourse witnessed a high decibel campaign between political parties with narratives ranging from the idea of wealth redistribution, a Nyay patra, guarantees, corruption under UPA among others.
BUSINESS
Demand for work under MGNREGA jumps 48.8% month-on-month in April
Employment indicators showed mixed trends. The number of net new subscribers under the Employees' Provident Fund Organisation increased year-on-year.
BUSINESS
Goldman Sachs revises India’s GDP forecast upwards on RBI dividend bonanza
The global financial institution also expects the Reserve Bank of India to go for a rate cut in the October-December quarter.
BUSINESS
Economic momentum likely to continue in Q1 with an export boost: FinMin
The volatility in global commodity prices, especially of petroleum products, present substantial multi-frontal challenges. Nonetheless, the expectation is that the macro-economic buffers will help the Indian economy navigate these challenges, FinMin noted.
