Page 16 - Indian Economy

'Make in India' more crucial from prism of national security: PM Modi

'Today, the world is looking at India as a manufacturing powerhouse' said PM Modi

Microfinance sector's contribution to GVA to be 2.7-3.5% by 2025-26: Study

The impact of the microfinance sector on Gross Value Added (GVA) of the economy is expected to be between 2.7 and 3.5 per cent by 2025-26, according to a study report released on Thursday. The report, 'Present and Potential Contribution of Microfinance to India's Economy', was prepared jointly by MFIN, an association for microfinance entities, and National Council of Applied Economic Research (NCAER). It presents an analysis of the contribution of microfinance institutions to the overall economy in terms of income or 'Gross Value Added', a measure of the national economic output and employment. The MFIN-NCAER report points out that during 2018-19, the contribution of the microfinance sector as a whole, to India's GVA was 2.03 per cent. The projected contribution of the microfinance sector to overall GVA, including the backward & forward linkages by 2025-26 would be a significant 2.7 per cent in the base case scenario and nearly 3.5 per cent in best case scenario, the report ...

Goyal asks industry to raise manufacturing contribution to 25% of GDP

Commerce and Industry Minister Piyush Goyal on Thursday asked the industry to look at ways to increase the contribution of the manufacturing sector to 25 per cent of GDP and set up 10 R&D labs or innovation centres to become a global leader in technology. He also said the industry should make all-out efforts to increase the share of exports to about 25 per cent of the GDP (gross domestic product). Addressing the closing session of the DPIIT's webinar on 'Make in India for the World', he talked about a five-point vision for boosting manufacturing and promoting exports. "How can we really take our manufacturing contribution to the GDP to 25 per cent? Can we increase our global trade to 10 per cent of the size of our economy?... These are ambitious targets but, I think, doable. "Can we look at being one of the top-three nations in services exports? Can we look at supporting MSMEs (micro, small and medium enterprises) to increase their participation in foreign trade," Goyal ...

Indian trade, current account deficit seen widening, rupee under pressure

India's trade deficit widened sharply to $21.19 billion in February compared to $17.94 billion the previous month, preliminary data shows

War Casualty: Russia-Ukraine crisis to dent India's auto sector

India's automobile industry is expected to bear the brunt of lower supplies of components triggered by the ongoing Russia-Ukraine war.

India to benefit from increased global demand for metals, foodgrains

India is well positioned to benefit from the increased global demand for steel, aluminium and foodgrains -- wheat and rice, said brokerage house ICICI Securities.

Pace of govt capital expenditure not robust enough, feel policymakers

The years FY21, FY22 and targets for FY23 have seen substantial jump in the Centre's capex outlay.

Feb exports rise 22% YoY to $33.8 bn; trade deficit widens to $21.19 bn

Remain above $30-bn mark but pace of growth slows for 2nd month in a row

Russia-Ukraine crisis: Rising crude oil prices put growth prospects at risk

The latest Economic Survey for FY22 projected economic growth at 8-8.5 per cent assuming crude oil prices at $70-$75 per barrel

Higher nominal GDP may give Centre a leeway to cut duty on petrol, diesel

Former RBI governor C Rangarajan believes it would be 13 per cent, though his projection came before the war

Stocks slip as oil prices continue to soar; Fed says rate hikes on track

Brent crude oil prices touched an intra-day high of $121.89 per barrel, the highest since April 2012, before paring some gains

Exports rise 22% to $33.8 bn in Feb; trade deficit widens to $21.19 bn

India's exports rose by 22.36 per cent to $33.81 billion in February on account of healthy growth in sectors like engineering, petroleum and chemicals, even as the trade deficit widened to $21.19 bn

Tracking the movements: Retail, recreation visits below pre-Covid levels

Retail and recreation visits were 0.9 per cent below levels seen in the early part of 2020, mobility data from search engine Google shows

Top headlines: Biden to warn Putin; challenges rise for new Sebi chief

From March 3, investors in India will be able to trade in select US stocks through the NSE International Exchange. More on that in our top headlines.

India's economy faces headwinds amid Russia-Ukraine crisis, says Emkay

India will see lower than previously forecast economic growth because of disruptions from the latest wave of coronavirus cases

Changing geopolitics

India must focus on creating a genuinely market-oriented economy

Ukraine war may see import bills topping $600 bn this fiscal: Report

The ongoing crisis in Ukraine is set to push the country's import bills beyond the $600 billion this fiscal, which can lead to a spike in inflation and current account deficit, and a falling rupee

GST collection up 18% YoY at over Rs 1.33 trn in Feb: FinMin

This is the first time cess collection has crossed the Rs 10,000 crore-mark, signifying recovery in certain key sectors, especially automobile sales

Russia-Ukraine crisis: Sunflower prices heading north in South India

The price increase in other parts of India has not been that steep so far

Russia-Ukraine crisis: FM Sitharaman worried over impact on exporters

The finance minister also raised concerns over the impact on the farm sector as it also forms a considerable share of exports to Russia and Ukraine