Economy Growth

Corporate irregularities can impact economy at large: Justice Kumar

Justice Kumar added that regular audits and proper disclosures are essential to avoid instances of poor corporate governance, which may lead to the breakdown of a company

Economic empowerment of women will lead to country's progress: Prez Murmu

President Droupadi Murmu on Wednesday said economic empowerment of women will lead to the country's progress and development. She also asked women to avail of the welfare schemes of the Centre and the state government. Addressing a gathering here, where the beneficiaries of the Eknath Shinde-led government's 'Mukhyamantri Majhi Ladki Bahin Yojana' and 'Shashan Aplya Dari' programmes were given certificates, she said the economic empowerment will result in the personal growth of women, who account for half of the country's population. President Murmu expressed happiness that the Maharashtra government has set the target of making 25 lakh women Lakhpati Didis (women earning more than Rs one lakh per year). She said she was happy to note that 13 lakh women have already become Lakhpati Didis. "The Centre has revised the target of Lakhpati Didis from one crore to three crore," the president said. Murmu asked women to take care of their health while caring for their families. "If you

Japan's economy grew last qtr on healthy consumer spending, investments

Japan's economy grew at an annual rate of 3.1% in the April-June period, rebounding from the contraction in the previous quarter, government data showed Thursday. The world's fourth largest economy grew 0.8% in the fiscal first quarter, according to the Cabinet Office. Seasonally adjusted gross domestic product, or GDP, measures the value of a nation's products and services. The annual rate shows how much the economy would have grown or contracted, if the quarterly rate had continued for a year. Domestic demand grew a robust 3.5% from the previous quarter on the back of healthy household consumption and private sector investments, as well as government investments. Exports grew a booming 5.9%. Japan's GDP shrank 0.6% in January-March on quarter, after eking out 0.1% growth in October-December last year. Economic growth went back and forth between such periods of contraction and weak expansion for the past year. Today's GDP data signal that the virtuous cycle between income and ...

India likely to have highest per-capita income growth, says report

Study pegs growth at 5.4% during 2024-33

PM Modi's new govt spending plans to remain in line with early projections

A modest expenditure plan could give an extra fillip to India's bond market, where benchmark yields are edging toward a 2-year low

Thailand to roll out disputed $13.8 bn plan in digital money to citizens

Thailand's prime minister said on Monday that eligible businesses and individuals can register from August for digital cash handouts, a controversial program that will cost billions of dollars and is meant to boost the lagging economy. The government announced in April the widely criticised ambitious plan, named the Digital Wallet, meant to give 10,000 baht (about USD 275) to 50 million citizens in digital money to spend at local businesses. Prime Minister Srettha Thavisin posted on the social platform X, saying the registration will begin on August 1 and that he has given instructions to ensure the smooth implementation of the program. The Digital Wallet was a major campaign promise of the ruling Srettha's Pheu Thai party ahead of last year's general election. The government says that this scheme will cause an economic tornado, and Srettha has said the stimulus and subsequent consumption are expected to boost gross domestic product growth by 1.2 to 1.6 percentage points. However,

Reforms in customs duties, GST, commerce to push India's growth: GTRI

Implementation of key strategic reforms such as simplification of customs duty structure, GST, and not incentivising low value-added electric vehicles would help India ensure its sustainable development and inclusive growth, GTRI said on Thursday. Economic think tank Global Trade Research Initiative (GTRI) also said that India is standing on the cusp of a transformative era and there is an urgent need for comprehensive economic reforms. "From simplifying the convoluted customs duty structure to pioneering regulatory sandboxes for cryptocurrencies, and from boosting the MSME sector through GST (Goods and Services Tax) reforms to fortifying our energy security, this agenda lays the foundation for a robust, resilient, and globally competitive India," it said. It said that the current basic customs duty structure, which affects USD 680 billion worth of imports, has not been reviewed in 20 years, leading to over 27 different duty rates and over 100 specific or mixed duty slabs. Currentl

IBBI proposes compliance procedures for IPs, seeks stakeholder feedback

The IBBI has proposed changes to the corporate insolvency resolution process (CIRP) forms and compliance framework to reduce compliance burden on insolvency professionals, and sought stakeholders' comments by July 1. These changes will reduce the amount of information and data that insolvency professionals (IPs) need to submit, thereby enhancing efficiency and reducing redundancy. The Insolvency Bankruptcy Board of India (IBBI) has also proposed to remove duplicate submissions and simplification of the reporting process. Under the discussion paper issued on June 10, the IBBI said the proposed changes will "simplify the compliance process by combining various reporting system on IP and IBBI website into a single, centralised IBBI website, eliminating duplication, and making it easier for stakeholders to access and use". The IBBI -- a statutory body functioning under the corporate affairs ministry -- has invited stakeholders to provide comments on the discussion paper by July 1. The

UP on track to become $1 trn economy, speed needs to double: CM Yogi

He said that when assessing the state's economic growth rate against national standards, efforts have yielded commendable results

Stock market future trajectory depends on new govt's policies, GDP growth

Future trajectory of stock market hinges on the new government's economic policies, with factors like GDP growth, inflation, and global conditions playing a key role, experts said on Tuesday. With the BJP-led NDA still looking to form a government, though with the important support of coalition partners, markets look jittery about the prospects of strong decision making. In fact, experts cautioned investors to be prepared for volatility due to currently high valuations and suggested adopting a diversified approach. Benchmark equity indices Sensex and Nifty tanked over 8 per cent in intra-day on Tuesday and later ended nearly 6 per cent lower, suffering their worst decline in four years, as trends showed the ruling BJP is short of clear majority in the Lok Sabha elections. Sensex crashed 4,389.73 points to settle at 72,079.05 and Nifty tanked 1,379.40 points to 21,884.50. However, markets jumped sharply on Monday after exit polls predicted a massive win for the BJP-led NDA in the Lo

UN reports brighter global economic outlook, predicts 2.7% growth in 2024

The United Nations reported improved prospects for the world economy since its January forecast on Thursday, pointing to a better outlook in the United States and several large emerging economies including Brazil, India and Russia. According to its mid-2024 report, the world economy is now projected to grow by 2.7 per cent this year up from the 2.4 per cent forecast in its January report and by 2.8 per cent in 2025. A 2.7 per cent growth rate would equal growth in 2023, but still be lower than the 3 per cent growth rate before the COVID-19 pandemic began in 2020. "Our prognosis is one of guarded optimism, but with important caveats, Shantanu Mukherjee, director of the UN's Economic Analysis and Policy Division, told a news conference launching the report. The report pointed to interest rates that are higher for longer periods, debt repayment challenges, continuing geopolitical tensions and climate risks especially for the world's poorest countries and small island ...

Nifty likely to reach 25,810 by December 2024: Prabhudas Lilladher

The NSE benchmark Nifty is likely to reach the 25,800 level by December 2024 as stable economic policies and normal monsoon will boost demand growth, Prabhudas Lilladher said in a report on Thursday. The index is currently trading at 22,570.35 level. Going by the prediction of Prabhudas Lilladher, the Nifty is expected to climb another 3,239.65 points or 14.35 per cent from its current level by December-end this year. "Recently, the Nifty reached its all-time peak, but subsequently experienced a correction of around 4 per cent attributed to escalating geopolitical tensions, fluctuations in crude oil and commodity prices, and differing perspectives on the anticipated interest rate adjustments by the US Federal Reserve," Amnish Aggarwal, Head of Institutional Research, Prabhudas Lilladher, said. The Nifty is expected to scale up to 25,810 levels by December 2024, Aggarwal added. "The upward mobility in Nifty is attributed to the continuation of the NDA government and La Nina led norm

Sensex closes above 75,000 mark for first time, RIL and ITC gains

But hotter-than-expected US inflation may put brakes on the rally

Strong showing: Markets end year of records on a high, Nifty rises 29%

Despite the recent selloff, the Nifty Smallcap 100 and the Nifty Midcap 100 indices gained 70 per cent and 60 per cent, respectively

Feasibility check of four Indian states in pursuit of a $1 trn economy

Uttar Pradesh and Maharashtra aim to achieve this milestone by 2027-28, while Tamil Nadu targets 2030-31 and Karnataka aims for 2031-32

Banks' asset quality to improve in next six months as economy grows: Survey

FICCI, Indian Banks' Association survey had 23 respondents represent 77% of industry by asset size

India has moved to 5th spot from 10th in world in terms of economy: FM

Union Finance Minister Nirmala Sitharaman on Friday said under Prime Minister Narendra Modi's leadership, India has moved up to the fifth position from the 10th spot in the world in terms of economy. "In the next year and a half, we will be at the third position," she said, adding that the standard of living of the citizens is better in a country that has a strong economy and everyone benefits from it. The senior Bharatiya Janata Party (BJP) leader said this is the first government in the country that listens to people, then makes schemes and works to deliver the benefits of such schemes to people. "The BJP is such a party in which even the smallest worker can reach the highest position by working for the party," she said. Claiming that the INDIA opposition bloc has disintegrated, Sitharaman said nothing is achieved by taking photographs. "They (Congress leader Rahul Gandhi and Samajwadi Party chief Akhilesh Yadav) have nothing left to say to the public. Prime Minister Modi has a

Economy likely to grow 7% in 2024-25, inflation to ease further: RBI Guv

Indian economy should record a growth rate of 7 per cent in the next fiscal and inflation is likely to ease further, RBI Governor Shaktikanta Das said on Wednesday. He also credited the government for structural reforms undertaken in recent years, saying they have boosted the medium and long-term growth prospects of the Indian economy. He said that amidst a challenging global macroeconomic environment, India presents a picture of growth and stability. Speaking at a CII session on 'High growth, low risk: The India story' here during the World Economic Forum Annual Meeting, Das said recent information on the global economic front has been reassuring with inflation falling, though growth remains low. "Chances of soft landing have improved and markets have reacted positively. However, geopolitical risks and climate risks remain matters of concern," he said. The RBI Governor said the real GDP growth in India is expected at 7.2 per cent this year.

Karnataka eyes Rs 1.4 trillion investment annually to boost state economy

Some of the big-ticket investment proposals received by the state include Foxconn, IBC, AMD, Qualcomm, Applied Materials, Marubeni and Tata Technologies

In boost to local economy, four new industrial estates to come up in J&K

The Jammu and Kashmir administration on Saturday approved the setting up of four new industrial estates in the Union Territory to boost investment and promote local employment, according to an official spokesperson. Approval for the setting up of new industrial estates at Budhi in Kathua district, Medicity Jammu in Jammu district and Chandgam and Lelhar in Pulwama district was given by the Administrative Council (AC) that met under the chairmanship of Lt Governor Manoj Sinha here, the spokesperson said. He said the new industrial estates will be developed on 1,379 kanals of land with an investment of Rs 136.65 crore. Apart from attracting investments, the projects will provide a boost to local employment and are expected to generate over 11,497 private sector jobs, he said. As per the spokesperson, new industrial estates will be comprehensively developed in terms of infrastructure, such as internal road works, availability of electricity, centralised water distribution system, ...