Page 18 - Indian Economy

Coal India Q1 FY25 results: Net profit up 4.1% at Rs 10,959 crore

5 of Coal India's 7 subsidiaries met production targets in Q1, but none met offtake goals

April-June fiscal deficit at Rs 1.36 trillion, 8.1% of 2024-25 target

Total government expenditure during the period was Rs 9.7 trillion, or about 20.4 per cent of the annual goal, lower than the Rs 10.51 trillion in the same period last year

India's 2047 economic goal offers Airtel big opportunities: Sunil Mittal

India's strides towards the ambitious goal of being a USD 35 trillion economy by 2047, will provide Airtel tremendous growth opportunities and new avenues of business, Chairman Sunil Mittal has said. Mittal said 5G will play a critical role in accelerating the vibrant growth of India's digital landscape, as he asserted that Airtel is committed to being at the forefront of this intersection and working with policymakers and multiple stakeholders for achieving this goal. India's push on digitisation has made it an outlier in terms of delivering both public services and goods to the last mile, and observed that the telecom industry's significance as an economic multiplier is only likely to increase. "As India moves towards the ambitious goal of being a USD 35 trillion economy by 2047, your company will have tremendous opportunities for growth and new avenues of business," Mittal said in the company's latest annual report. The Airtel top honcho exuded confidence that the company will .

Draft guidelines may impact banks' existing LCR by upto 300 pps: CRISIL

Last week, RBI proposed to tighten norms related to liquidity coverage ratio by increasing the run-off factor to 5 per cent for retail deposits

India's economy likely to record over 7% growth in FY25, says NCAER

The Indian economy could grow higher than 7 per cent and possibly closer to 7.5 per cent in the current fiscal on the back of normal monsoon and receded electoral uncertainty, economic think tank NCAER has said. In its July 2024 issue of Monthly Economic Review (MER), NCAER said real GDP grew by 8.2 per cent in FY2023-24, driven by stable consumption demand and steadily improving investment demand. "Based on the momentum in the high-frequency indicators, normalised monsoon, a relatively benign global outlook and receded electoral uncertainty, both in India and in the rest of the world, growth will likely turn out to be higher than 7 per cent, and possibly closer to 7.5 per cent," NCAER director general Poonam Gupta said. Gupta said the Union Budget 2024-25 lived up to the expectations of unwavering commitment to fiscal consolidation, prudence, and quality. The Budget has kept the fiscal deficit target at 4.9 per cent of GDP and capital expenditure at 2.4 per cent of GDP during ...

Andhra Pradesh CM Naidu suggests 'P4' model to resolve wealth concentration

The Andhra CM spoke about his government's plans to undertake "a comprehensive skill census" and the need for building marquee Indian brands

India should grow at 7-10% for 20-30 yrs to avoid middle income trap: NITI

PM Modi said emphasis on skill, research, innovation and job based knowledge necessary for making 'Viksit Bharat'

Rupee may bounce back in Aug on weak dollar, US rate cut hopes: BS poll

But some see it hitting 84/$ tracking Asian peers

High PSF provision in Budget 2024 revives buzz about merger with PSS

But PM-AASHA allocation indicates otherwise

BJP CMs' Council meet: PM discusses efforts to make India $5 trn economy

PM Modi, in the two-day meeting of the BJP Chief Ministers' Council that concluded on Sunday, said that the conservation of heritage and building a legacy of development

P2P industry: When will RBI walk the talk?

The regulator has issued show cause notices to a few P2P platforms for certain practices. Let's see how they defend themselves and how the regulator reacts

Need to become a $30 trn economy with $18,000 per capita income: NITI paper

India needs to strive to be a USD 30 trillion economy with a per capita income of USD 18,000 per annum by 2047, the approach paper for vision for Vikshit Bharat in 2047 has said. NITI Aayog in a paper titled 'Vision for Viksit Bharat @ 2047:An Approach Paper' said India needs to avoid the Middle-Income trap and carefully work towards breaking out of it. "As for the economy, to become a developed nation, we need to strive to be a USD 30 trillion economy by 2047 with a per capita income of USD 18,000 per annum. "The GDP would have to grow nine times from today's USD 3.36 trillion and the per capita income would need to rise 8 times from today's USD 2,392 per annum," it said. The paper also noted that progressing from a middle-income to a high-income level requires sustained growth in the range of 7-10 per cent for 20-30 years and very few countries have managed to do this. Defining the concept of Vikshit Bharat, the paper said it is a Bharat which will have all the attributes of a ..

PM Modi urges states to attract FDI, suggests 'investor-friendly charter'

Investor friendly charter, zero poverty and demographic management plans highlights of NITI Aayog meet

NITI Aayog meet: Chhattisgarh CM Sai pitches for skill-based education, AI

Chhattisgarh Chief Minister Vishnu Deo Sai on Saturday pitched for promoting skill-based education, natural dispensaries and artificial intelligence in his state, as he committed his state's full support in achieving the goal of making India a developed country by 2047. Speaking here at the Governing Council meeting of the Niti Aayog, chaired by Prime Minister Narendra Modi, Sai listed various priorities and efforts being made for Chhattisgarh's development with an emphasis on education, human resource development, health and technological advancement. He said Chhattisgarh will play a pivotal role in "Developed India by 2047". At present, the state's GSDP (Gross State Domestic Product) is Rs 5.05 lakh crore, which is targeted to be increased to Rs 10 lakh crore in the next five years, and the state has started work on possibilities of improvements and achieving goals in various fields, Sai said. Emphasising the role of youngsters in the development of the state, the chief minister

RBI's draft LCR norms: Banks likely to see 4-11% impact on earnings

According to analysts, banks with an LCR exceeding 130 per cent are relatively comfortable, though not many lenders boast such robust ratios

Rupee falls to new low on oil importers' dollar demand, weak risk appetite

The rupee remained under pressure during the week due to persistent outflows from domestic equities, said dealers

In India's goal of financial inclusion, banks make 'remarkable progress'

Number of Indians with an account in a formal financial institution increased to 77% in 2021

Strengthening IBC: Extend prepack to big companies, says industry

Both the finance minister and the economic survey have highlighted the success of IBC

The China challenge

From a military standpoint, while the regional rivalry is not insignificant, it is the territorial contestation that is more important at the moment

FM has managed to lay down a growth-oriented Budget: Harsh Pati Singhania

Budget proposal to promote investments, create jobs, say industry players