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Deloitte expects India to post 6.5-7.1% economic growth in current fiscal

India is likely to post a 6.5 per cent to 7.1 per cent economic growth during the current financial year 2022-23 amid rising inflation and impending global slowdown, Deloitte India said in a report. The persistent inflation has challenged policymakers over the past few months. Despite the Reserve Bank of India (RBI) raising interest rates by 1.9 percentage points since April 2022, inflation has remained above its tolerance range for over 9 months now. To add to this, the runaway dollar is causing import bills to soar and further pushing inflation up. An impending global slowdown or even a recession in a few advanced nations as early as the end of 2022 or early next year is likely to make the situation worse. "The seemingly unending saga of global economic uncertainties has begun to negatively impact India's main drivers of growth. So volatile is the current economic environment that if one is looking for certainties from the recent data releases, it is unlikely that a consistent ...

LIVE updates: PM Narendra Modi holds roadshow in Gujarat's Vapi

PM Modi is scheduled to hold rallies in Gujarat's Saurashtra for three consecutive days from Nov 20 to Nov 22. Stay tuned for LIVE updates

Indian-American Punit Renjen announces retirement as Deloitte Global CEO

Indian-American Punit Renjen on Friday announced that he would retire as Deloitte Global CEO on December 31 and would be replaced by Joe Ucuzoglu. "It has truly been an honour and privilege to lead Deloitte over the past several years," said Renjen. As Deloitte Global CEO since 2015, Renjen developed and executed a global strategy that resulted in Deloitte revenue growing from USD35 billion to more than USD59 billion in just seven years. "More important than any commercial outcome, I am proud of the incredible societal impact we have been able to make as a purpose-driven enterprise. And I am looking forward to some exciting endeavours, including dedicating time to several societal causes about which I am deeply passionate, including sustainability and climate," Renjen said. Under Renjen's leadership, Deloitte launched WorldClassa global effort to prepare 100 million underprivileged people for a world of opportunitybased on the belief that when society thrives, business thrives. Re

Deloitte expands pact with Google Cloud to double down its specialisations

The two firms will help clients across industries innovate and implement Google Cloud technology at scale

Consultancy companies doubling capacity in sustainability divisions

According to industry sources, about 350-400 of the 1,000 companies have already engaged the services of sustainability consultants

Smart protein market could reach $4.2 billion by 2030: Deloitte study

Experts at a Summit on the subject said India has crop diversity, a competitive talent pool, and hundreds of people working on an opportunity that can create several jobs across the value chain

India, UAE can benefit from energy, skills, education cooperation: Report

Economies of India and the UAE can benefit significantly from their free trade agreement by sharing knowledge and best practices in several areas of mutual interest such as education, energy, skills and defence, according to a report by Deloitte. Both the countries have implemented the Comprehensive Economic Partnership Agreement (CEPA) from May 1 this year to boost bilateral trade and investments. It is aimed at increasing the trade to USD 100 billion in the coming years. "Under the preferential trade agreement, the two economies may benefit from sharing knowledge and best practices in several areas of mutual interest," the report said. It said the Indian economy is heavily dependent on crude oil imports to meet its domestic requirements and the current geopolitical tensions between Russia and Ukraine and shrinking supplies from Iran are further affecting macroeconomic fundamentals. "These turbulences suggest that India must work towards decreasing its energy dependence by explori

Deloitte sought two key changes to Byju's FY21 financials: Report

In the results, declared on Wednesday after a delay of over 18 months, Byju's recorded a revenue of Rs 2,280 crore. The loss for FY21 stood at Rs 4,500 crore

EV sales likely to jump by over 4X by 2025 in India: Deloitte Touche

It will be largely led by two-wheelers, followed by three-wheelers and commercial vehicles and passenger vehicles, respectively

EY plans to spin off audit, consulting units to ease regulatory concerns

London-based EY, which in June had denied reports on its restructuring plans, said it would provide its 13,000 partners with more information before voting on the split starts on a country-by-country

BYJU's receives clean FY21 audit from Deloitte, to make it public next week

India's edtech startup BYJU's has finally received a clean report from auditor Deloitte on its financial results for FY21 that will be shared with the equity and debt investors next week

86% Indians hope to access most govt services online in 5 yrs: Deloitte

Moreover, 67% of respondents expected the quality of government services to be on par with those offered by the private sector

Deloitte audit report very soon as BYJU's files FY21 tax returns: Report

BYJU's, which faced intense scrutiny recently over several issues, made multiple acquisitions in FY21 and each of these acquisitions had a different accounting style and year

$1 trn economy target: UP govt appoints Deloitte consultant, signs MoU

The UP government signed a memorandum of understanding with Deloitte India, appointing it as a consultant for achieving the target of bringing the state's economy to $1 trillion mark

Many women plan to quit jobs within two years due to burnout: Report

According to Deloitte's 'Women@Work 2022: A Global Outlook' report, about 56 per cent of women say their stress levels are higher than they were a year ago, and almost half feel burned out

Consumers show cautious optimism; hold non-discretionary spends: Report

Indian consumers are showing cautious optimism and balancing non-discretionary spending as they are saving more for the future, according to a report.

How battery swapping is propelling India's shift to e-scooters

The pivot to battery swapping was a centerpiece of Finance Minister Nirmala Sitharaman's budget speech last month

IndusInd Bank to make additional provisions after Deloitte review of unit

Bharat Financial Inclusion Limited gave out micro loans without consent of customers, apparently due to a technical glitch

IndusInd Bank blames tech glitch for micro loans without customer consent

IndusInd Bank has said microfinance loan disbursals by its subsidiary during the Covid-19 period was the result of a "technical glitch", according to the findings of audit firm Deloitte

India to have 1 billion smartphone users by 2026: Deloitte report

Internet-enabled devices in the rural market will also get a push with the government's plan to fiberize all villages by 2025 under the BharatNet programme