BUSINESS
India's April-December fiscal deficit at Rs 9.82 lakh crore, 55% of FY24 target
The release of fiscal deficit data for April-December 2023 comes a day before Finance Minister Nirmala Sitharaman tables the interim Budget for 2024-25 in Parliament.
BUSINESS
Ahead of Budget, IMF raises India's FY25, FY26 GDP growth forecasts to 6.5%
In the latest update to its World Economic Outlook report, the International Monetary Fund said the growth upgrade for India reflects "resilience in domestic demand".
BUSINESS
Budget 2024: Five key charts from Fin Min's 'not-an-Economic Survey' report
While the government does not present an Economic Survey prior to an interim Budget, which is only a vote-on-account ahead of the Lok Sabha elections, Moneycontrol had reported in November 2023 that the finance ministry would publish a 'concise' document detailing the state of the Indian economy.
BUSINESS
No Econ Survey, but Fin Min's review report says FY25 GDP growth may be close to 7%
"This is not the Economic Survey of India prepared by the Department of Economic Affairs. That will come before the full budget after the general elections," the finance ministry said three days before the interim Budget for 2024-25 is tabled in Parliament.
BUSINESS
Budget 2024 | Govt capex growth likely to slow down to 10% in FY25
Budget 2024: According to a Moneycontrol survey, economists see the interim Budget targeting a capital expenditure of around Rs 11.2 lakh crore for 2024-25.
BUSINESS
Budget 2024 | Govt may target 5.3% fiscal deficit for FY25, lower market borrowings
A fiscal deficit of 5.3 percent of GDP in 2024-25 would mean a 60-basis-point reduction in the fiscal deficit from this year's Budget estimate, which economists widely expect the Nirmala Sitharaman-led finance ministry to meet.
BUSINESS
Catching them young? FM Sitharaman tells college students to vote 'wisely'
Speaking to students of University of Delhi's Hindu College, the finance minister also said the Pran Pratishtha in Ayodhya on January 22 was the restoration of civilisational values – one of the pillars she said would help in empowering students towards Viksit Bharat.
BUSINESS
FM Sitharaman rejects K-shaped recovery theory for India, asks doubters to explain
Speaking to students of University of Delhi's Hindu College, Finance Minister Nirmala Sitharaman also said that India is nearly self-sufficient in most food items and even exports some of them.
BUSINESS
Budget 2024: Fin Min may assume 10.5% nominal GDP growth for FY25 fiscal math
According to data released by the statistics ministry on January 5, India's nominal GDP growth for 2023-24 is estimated at 8.9 percent, lower than the 10.5 percent the finance ministry had assumed in this year's Budget.
BUSINESS
Flash PMI for India launched, January services print at 6-month high of 61.2
The flash Purchasing Managers' Index for any given month will be released approximately one week in advance of the final number.
BUSINESS
India's $10 trillion run – the first milestone on the developed economy road
India is hoping to become a developed country by 2047. While that finish line is almost a quarter of a century away, there are milestones to be crossed along the way. And if these milestones, such as increasing the GDP to $10 trillion, are reached, the eventual objective may not be as distant as it looks.
BUSINESS
MC India Inc CEO Survey: Executives strap in for unchanged inflation, interest rates
A Moneycontrol survey of more than 50 Indian CEOs in January, days ahead of the interim budget, reveals that most business heads expect to be working with the same levels of interest rates and inflation in the first half of 2024
BUSINESS
Inflation hits 4-month high, IIP growth slumps as base effect again causes problems
While retail inflation accelerated to a four-month high of 5.69 percent in December, industrial growth slumped to 2.4 percent in November – the lowest in eight months.
BUSINESS
Retail inflation accelerates to 4-month high of 5.69% in December on base effect
Headline retail inflation has now spent 51 consecutive months above the Reserve Bank of India's medium-term target of 4 percent.
BUSINESS
Retail inflation may have hit 4-month high of 5.9% in December on low-base effect
While CPI inflation is seen rising for the second consecutive month, economists expect industrial growth slowing down to an eight-month low of 3.5 percent in November
BUSINESS
Global economy surprisingly resilient, but outlook 'dark': World Bank
The World Bank sees India's GDP growth edging up steadily from 6.3 percent in 2023-24 to 6.4 percent in 2024-25 and 6.5 percent in 2025-26
BUSINESS
Budget 2024: Low nominal growth could put India's fiscal deficit target under pressure
According to the statistics ministry's first advance estimate of this year’s GDP, the Indian economy's growth rate is set to increase to 7.3 percent from 7.2 percent in 2022-23. However, the nominal growth rate is seen at 8.9 percent – well below the government's assumption that it would be 10.5 percent.
BUSINESS
Govt pegs FY24 GDP growth at 7.3% in another upside surprise
The statistics ministry's first advance estimate for this year's growth is above the Reserve Bank of India's forecast of 7.0 percent.
BUSINESS
Cornfield to oil well: Amit Shah says govt to link corn farmers to ethanol factories
The home minister also said the country will not import any pulses starting from January 2028, as it continues to make progress on becoming self-reliant
BUSINESS
Budget 2024: GDP growth-tax collections relationship is now complicated
The finance ministry makes its projections for next year's tax collections based on how fast it thinks the Indian economy will grow in nominal terms. But if the experience of 2023-24 is anything to go by, the relationship that existed between the two seems to have become more complicated and could present a challenge in crunching the numbers for the 2024-25 interim Budget
BUSINESS
RBI meets target as December 27 saw more than 1 million CBDC transactions
In an end-of-the-year letter, Governor Shaktikanta Das also called on the Reserve Bank of India's staff to "finds ways to improve the efficacy and quality" of the central bank's service delivery.
BUSINESS
India's GDP growth to 'comfortably' exceed 6.5% in FY24, says FinMin
The higher-than-expected GDP growth print of 7.6 percent in July-September has forced many economists and agencies, including the Reserve Bank of India, to raise their full-year growth forecasts.
BUSINESS
India's April-November fiscal deficit at Rs 9.07 lakh crore, 51% of FY24 target
The government's fiscal deficit for only November was Rs 1.03 lakh crore, down 53 percent from the same month of the previous year.
BUSINESS
Govt to extend RoDTEP scheme benefits to e-commerce exporters
The RoDTEP, or Remission of Duties or Taxes on Export Product, scheme has been effective since January 2021 and aims to nullify the impact of duties, taxes, and other levies at the central, state, and local level borne on the exported product.
