BUSINESS
Budget 2023 | Most MSMEs doing well but financing still an issue, says FISME secretary general
Reforms, instead of a fiscal push, will help keep financing costs low, helping micro, small and medium enterprises expand, says Anil Bhardwaj.
BUSINESS
Budget 2023: Govt must shift focus to lowering fiscal deficit to 3%, says former finance secretary Garg
The government deserves praise for cleaning up the fiscal Augean Stables but needs to recommit itself to the path of lowering the fiscal deficit to the Fiscal Responsibility and Budget Management (FRBM) Act’s target of 3% of GDP, says Subhash Chandra Garg
TRADE-2
Budget 2023 | Services export promotion body seeks tax relief, revival of incentives
Services exports are booming but the industry still needs help, according to Services Export Promotion Council chief Abhay Sinha.
ECONOMY-2
India should be able to meet fiscal deficit target for this FY; inflation is easing, FM Sitharaman says
The government aims to lower fiscal deficit to 6.4 percent of gross domestic product this fiscal year, in line with its fiscal consolidation commitment
ECONOMY
IDBI Bank early bid deadline extended to January 7
The government had received requests from the transaction advisor to push forward the deadline for early bids for IDBI Bank
BUSINESS
India monetary policy pivot towards growth around the corner, Nomura says
The brokerage pencils in one more rate hike in February and then 75 basis points of cumulative rate cuts in the second half of 2023
BUSINESS
Most states seeking return to old pension scheme are in bad shape financially
States including Rajasthan and Jharkhand have asked the central government to return the corpus collected under the New Pension Scheme. However, the Union finance ministry says there is no provision under which the corpus can be returned.
BUSINESS
MC Explains | No immediate boost to growth from China's easing of Covid rules
China relaxes Covid-19 restrictions the most since the pandemic began. But the immediate economic impact may be less then hoped.
BUSINESS
Govt will focus on capex, keep allocation for subsidies: Goldman Sachs economist
Santanu Sengupta expects the Reserve Bank of India to raise the key policy rate by 50 basis points at its upcoming meeting
ECONOMY-2
India capable of generating 9% growth but current restraint is correct approach: PMEAC member Sanyal
The time will come when the country will be able to push the accelerator, for which the supply side is ready, Sanyal said
BUSINESS
Recovery boosts stocks but is economic activity set to enter slow lane?
About 20 percent of the economy accounts for nearly 80 percent of growth, while the remaining 80 percent contributes barely 20 percent, analysts said.
BUSINESS
India's economic reforms will help boost potential growth beyond 6%: Goldman Sachs
Govt policy of absorbing food price shocks and providing counter cyclical stimulus should continue next year with the general election coming up in 2024, the brokerage said.
ECONOMY-2
Private capex reviving, time to focus on demand drivers: CEA Nageswaran
Internal drivers of demand are looking constructive and positive, resilient, the CEA said
INDIA
In Charts | At 7% projected growth rate, India may outsmart US, Euro area, China on key macros
In a world that faces multiple crises, India looks good on growth and its currency is not doing as badly the others.
BUSINESS
Are we looking at a respite from high food inflation?
Though the government moved early to curb exports of key grains to ensure food security and price stability, untimely rains pushed up food prices
BUSINESS
Base effect led fall does not mean the start of inflation easing cycle
Inflation is set to rise beyond 7 percent from December once the favourable base effect turns decisively adverse, says Kunal Kumar Kundu, India economist at Societe Generale
BUSINESS
Time has come for innovations in Indian agriculture, NCML CEO Gupta says
Farm productivity has plateaued and large-scale farming is difficult as land holdings are scattered. The government’s push to reform agriculture markets through legal amendments has stalled
ECONOMY-2
Govt expects to meet budget gap target for this fiscal: CEA Anantha Nageswaran
Several economists and rating agencies like Fitch Ratings expect the target to be missed.
BUSINESS
Allow rupee to depreciate gradually, keep reserves for 2023: CEA Anantha Nageswaran
Restrictions on capital outflows are not being planned, the chief economic adviser said. “I don’t think it is on the cards."
ECONOMY-2
India’s economy to grow at 6.5-7% over medium term, says CEA Anantha Nageswaran
The global monetary tightening is becoming a little less synchronised, which is a small relief for developing countries, the chief economic adviser has said
BUSINESS
Revisions plague economic growth forecasts. India's home turf prompts the cuts
While the recent growth cuts are clearly driven by concerns about the global growth slowdown, there seems to be too much emphasis given on the impact of external factors
ECONOMY-2
MC Explains | Slowing down monetary tightening will be the right call for India
Several economies that had raised rates sharply early on are still facing elevated inflation. India must bide its time to ensure growth is not dented more than required
BUSINESS
India better placed than world at large with economic growth on track: Finance Ministry
India is poised to be one of the fastest-growing economies in the world this year, despite global growth concerns exacerbated by the Russia-Ukraine war, higher cost of living, worsening energy crisis, sharp monetary tightening and financial market volatility across the globe
BUSINESS
RBI to revert to baby steps approach to monetary tightening
India’s Monetary Policy Committee has raised the key policy repo rate by 190 basis points since early May as it shifted focus to inflation from growth.
