Page 2 - Indian Economy

The LIC way or the Air India way: A tale of two suboptimal paths

One path waits for the company to go bankrupt while the other continues to subject it to government whim, writes T N Ninan

Top Headlines: IMF's prediction, GST Council recommendations, and more

The International Monetary Fund (IMF) has "corrected" an error in its calculations to now project that India would become a $5-trillion economy by 2026-27

IMF 'corrects' maths, says India to be $5-trillion economy by FY27

CEA disputed IMF's earlier projections that showed goal to be achieved by 2028-29

Govt considers allowing wheat shipments trapped at ports, says report

New Delhi banned wheat exports on Saturday, as an intense heat wave hit output and domestic prices hit a record high

India's economic growth likely to be robust at 8.9% in FY23: FM at NDB

Nirmala Sitharaman also expressed confidence that India will continue to achieve a high growth rate in the next financial year as well

India, fastest-growing major economy, projected to grow 6.4% in 2022: UN

India's growth contrasts with the global growth rate that is forecast at 3.1 per cent this year and the next, according to the report

S&P cuts FY23 India growth forecast to 7.3% on inflation, Ukraine war

S&P Global Ratings on Wednesday cut India's growth projection for the current fiscal to 7.3 per cent from 7.8 per cent earlier on rising inflation and the longer-than-expected Russia-Ukraine conflict. In its Global Macro Update to Growth Forecasts, S&P said inflation remaining higher for long is a worry, which requires central banks to raise rates more than what is currently priced in, risking a harder landing, including a larger hit to output and employment. S&P had in December last year pegged India's GDP growth in the 2022-23 fiscal, which began on April 1, 2022, at 7.8 per cent. The growth projection has been cut to 7.3 per cent for the current fiscal. For the next fiscal the growth has been pegged at 6.5 per cent. "The risks to our forecasts have picked up since our last forecast round and remain firmly on the downside. The Russia-Ukraine conflict is more likely to drag on and escalate than end earlier and deescalate, in our view, pushing the risks to the downside," ..

Govt mulls extending April GST payment deadline; asks Infosys to fix glitch

As taxpayers face technical glitch on the GST portal, the government on Tuesday said it is considering extending the April tax payment deadline and has directed Infosys for early resolution of the problem. The Central Board of Indirect Taxes and Customs (CBIC) said a technical glitch has been reported by Infosys in generation of April 2022 GSTR-2B and auto-population of GSTR-3B on portal. "Infosys has been directed by Govt for early resolution. Technical team is working to provide GSTR-2B & correct auto-populated GSTR-3B at the earliest," the CBIC tweeted. GSTR-2B is an auto-drafted Input Tax credit (ITC) statement which is available to every GST registered entities based on the information furnished by their suppliers in their respective sales return form GSTR-1. GSTR-2B statement is usually made available to businesses on the 12th day of succeeding month, based on which they can claim ITC while paying taxes and filing GSTR-3B. GSTR-3B is filed in staggered manner between 20th, .

WPI inflation hits 15.08% in Apr, in double-digits for 13th straight month

Wholesale price inflation rate is now in double digits for 13 consecutive months.

Speed of connectivity will determine growth of country, says PM Modi

Prime Minister Narendra Modi on Tuesday said that the connectivity speed will now determine the growth and development of the country.

Financial conditions ease in April; external headwinds to weigh: CRISIL

Major central banks likely to increase pace of tightening to combat inflation; US Fed has already raised its policy rate twice until May, and S&P expects five more hikes in 2022

WEF 2022: What does 'global debt' mean and how high is it at present?

The current debt wave is the world's fourth since 1970, the World Bank says

Recovery tracker: Rise in no of flyers, gap on auto registrations narrows

Mobility indicators show more people at transit spots like bus and train stations

Rahul Gandhi slams PM Modi and BJP-led govt for destroying economy

Congress leader Rahul Gandhi on Monday accused Prime Minister Narendra Modi of destroying the country's economy, which was "strengthened" by the former UPA government.

Inflation: Why RBI should have paid more attention to detergent prices

Operating at magic price points is like running a high-school experiment in "titration," dripping a liquid of known properties into another of unknown concentration and stopping when the color changes

Resilient during pandemic, home-based women workers' recovery far from over

The national lockdown and series of movement restrictions meant that supply chains were hit and demand for their labour dried up, which led to job losses and erratic wages, experts and studies said

Indian economy witnessing V-shaped recovery after pandemic: Rajnath Singh

Singh was addressing a workshop on the financial market organised by the Lucknow branch of Central India Regional Council (CIRC) of the Institute of Chartered Accountants of India

Majoritarianism will be extremely dangerous for the future of India: Rajan

The former RBI governor said India needs inclusive growth and the country cannot have inclusive growth by treating any segment of the population as second class citizens

Economy a cause of worry as foreign exchange reserves deplete: Congress

"The government is actually fueling the rise of inflation by its wrong policies, especially through high taxes on petrol and diesel, high administered prices and high GST tax rates," Chidambaram said

State of the economy cause of 'extreme concern', says P Chidambaram

Chidambaram said a slower rate of growth has been the "hallmark" of the present government in the last eight years, and the post-pandemic recovery has been "indifferent and halting".