The official said that the transportation cost has increased as the shippers are taking a long route.
Market salutes conservative Budget stance
Nageswaran also rejected the K-shaped recovery theory that is being used to describe India’s post-pandemic rebound. According to him, it is akin to the phrase ‘Hindu rate of growth’ that was “unthinkingly” used and stuck for no reason.
In a post-Budget interview with Rahul Joshi, Editor-in-Chief, Network18, the finance minister also said that jobs getting created outside the formal economy were “not getting counted at all”
The Indian government has been in a running battle with S&P Global Ratings, Moody’s Investors Services, and Fitch Ratings as it thinks the sovereign rating assigned to the country is not a fair reflection of its economic strength.
A selection of articles and social media gems from the world of economy, business and finance, curated by our research and opinion teams
The just-concluded Budget has stuck to the fiscal prudence script. Will RBI take the cue? Even the IPO circuit remains hot. The next week has all that and more
According to the finance minister, state governments have been “very enthusiastic” in wanting to avail of the capex loan facility provided by the central government.
Bigger and more difficult choices need to be made as a new inflection point emerges in markets
Under the National Monetisation Pipeline, the aggregate monetisation potential of the central government’s brownfield infrastructure assets has been estimated at Rs 6 lakh crore over a four-year period, from FY 2022 to FY 2025.
In a post budget interview to PTI TV, Gupta also said the I-T department has set up a demand management centre at Mysuru, Karnataka, which is focusing on disputed pending large tax demands of above Rs 1 crore.
In a post budget commentary, Fitch Ratings Director, Sovereign Ratings, Jeremy Zook said over the next five years, India’s government debt-to-GDP ratio would be broadly stable at just above 80 per cent of GDP. This is based on a continued path of gradual deficit reduction, as well as robust nominal growth of around 10.5 per cent of GDP.
While there has been an increase in tax receipts as a percentage of GDP compared to pre-pandemic levels, higher levels of government spending are keeping the fiscal deficit high
Policy rate cuts by global central banks seem visible over the medium term and well-managed duration funds like Dynamic bond funds, Banking & PSU debt funds can benefit
What deserves credit is that despite delivering the customary pre-election sops, the budget exercised restraint and did not lose sight of long-term value creation
Moneycontrol has found seven stocks from the Nifty 500 index that are likely to double earnings next year. These stocks are Shree Cement, Ceat, ACC, JK Cement, BEML, Motilal Oswal Financial and Birla Corp
Kristalina Georgieva said that one very significant advantages of India is the bold actions on the digital front with the digital public infrastructure, digital ID and making digital a strong comparative strength of India allowing small entrepreneurs to tap into markets in the way they were not able to do before.
After hiking its repo rate by a cumulative 250 basis points – much less than most of its major peers – the RBI has kept it untouched since February 2023 as inflation largely remained within the bank’s 2%-6% target range.
Sinha backed the FM’s claim that the average real income of the people has increased by fifty per cent and noted that the government calculated it based on the changes in income over the last 10 years.
The government’s disinvestment strategy must be calibrated while also focussing on the creation of wealth, Tuhin Kanta Pandey said
Sitharaman, who presented her sixth budget, said she is seeing “newer areas of activities opening up”. This includes the space sector, she pointed out, while adding that the startups are also acting as a growth multiplier.
The government has re-emphasized its commitment towards e-mobility, and has clearly articulated that it will be looking at supporting the manufacturing and charging infrastructure Shruti Saboo
The budget not only allay fears of populist measures, but reaffirms the government’s focus on infrastructure development and the commitment to follow the path of fiscal consolidation
Speaking to reporters after the presentation of the interim Budget, Finance Secretary TV Somanathan also said India’s debt-to-GDP ratio is one of the lowest in the G20.
The interim budget has used a positive economic backdrop to strengthen the long-term growth impulses provided by public investments, build back fiscal buffers to counter future shocks and aims to put public debt on a downward path to free up space for productive spending