Rating agency ICRA said the normalization of monsoon has increased the probability of GDP growth in India rising to 7.4-7.6% this year as well as that of an interest rate cut during the October-December quarter of this year. “Following bouts of unseasonal rainfall in the pre-monsoon period, the surplus monsoon rainfall in June 2015 has […]
HSBC’s manufacturing PMI for India was weaker in June due to a decline in output and new order flow, including from overseas, the financial services firm said. PMI or purchasing manager’s index, is a gauge of confidence levels of purchasing managers in companies. It gives an indication of what companies expect will happen in the […]
The Reserve Bank of India has flagged two key areas of concerns as far as monetary policy is concerned – the threat of poor monsoon, and the return of high inflation due to possible increase in oil prices. “While headline inflation has moderated, price pressures arising from a possible sub-normal monsoon and uncertainties about crude […]
Finance minister Arun Jaitley said India’s economic growth prospects for the current year is improving with the improvement in monsoon rains. Speaking an interaction with representatives of Silicon Valley companies such as Microsoft, Amazon, Oracle, Google, Cisco, First Solar, Aemetis, Ebay and so on, Jaitley said monsoon predictions are improving and with it the prospects […]
Terming the progress in monsoon rains as a positive trend, minister of state for Science and Technology and Earth Sciences, Mr Y.S. Chowdary today sought to allay concerns over forecast of deficient monsoon rains at an ASSOCHAM event held in New Delhi. “Monsoon is in a positive trend, there is no need to have any […]
Average salaries across India Inc. increased by 10.8% in 2015 as per the latest Towers Watson 2015-16 Asia Pacific Salary Budget Planning report. “India is clearly among the front-runners with a 10.8% average salary increase, ahead of countries like Indonesia at 9.5%, China at 8.6% and Philippines at 6.7%,” the professional services company said. Mature markets […]
Pointing to a flattening out of the disinflationary trend, Emkay Global Financial Services said the Reserve Bank of India is unlikely to continue much farther with the ongoing rate-easing cycle. The RBI cut key interest rates by 25 basis points today – the third such cut this year – as inflation showed signs of easing […]
State Bank of India, the country’s biggest bank has expressed concern over continuing weak demand in the economy due to “entrenched disinflationary impetus and weak demand,” and suggested that the RBI should cut key interest rates. While economic growth is moderately strong right now, it said, these factors will impact IIP (Index of Industrial Production) […]
India’s eastern sea coast, which comprises states like Andhra Pradesh, Orissa, West Bengal and Tamil Nadu is more vulnerable to the after-effects of the sea level rise that has been observed in recent years, according to a document with the ministry of earth sciences, India. According to the ministry, the sea level is rising faster […]
The Indian government’s poor financial condition is the weakest aspect of India’s credit profile, international ratings agency Moody’s has said, adding that state-owned banks’ poor assets are another area of concern. On the other hand, strong private savings and growth are positive aspects to the Indian economy, Moody’s added. “Government finances are the weakest aspect […]
The following are the major tax related changes introduced in Union Budget for 2015-16 presented by Arun Jaitley in Parliament today. Objectives of tax policy [] Objective of stable taxation policy and a non-adveRs arial tax administration. [] Fight against the scourge of black money to be taken forward. [] Efforts on various fronts to […]
The following are the sector wise highlights of Union Budget 2015-16 presented by Arun Jaitley in Parliament today. Agriculture [] Major steps take to address the two major factoRs critical to agricultural production, that of soil and water. [] ‘Paramparagat Krishi Vikas Yojana’ to be fully supported. [] ‘Pradhanmantri Gram Sinchai Yojana’ to provide ‘Per […]
A survey by ASSOCHAM and National Institute of Labour Economics Research & Development has found that India adds around 72 lakh members to its workforce every year, and the total work force will rise to 485.6 million by 2016-17 and to 495.1 million by 2019-20. The survey also found that manufacturing, construction and services including […]
Not surprisingly, the Information Technology sector in India has turned out to be the most lucrative from the perspective of salary, paying its employees an average of 341.8 rupees per hour. At 9 hours per day and 22 days in a month, that works out to a median salary of Rs 67,518 per month, according […]
The recent cut of a quarter of a percentage point in key interest rates by the Reserve Bank of India will not have any immediate impact in rates charged by banks on loans, DBS Bank said in a note. It also said the RBI is likely to go for another 50bp reduction in interest rates […]
The Reserve Bank of India is very likely to start cutting India’s key interest rates early next month, CARE Ratings said after India’s December consumer inflation number came in at a manageable 5%. It was widely expected that the recent fall in consumer inflation could undergo some reversals in December and January, and the falling […]
The HSBC India Purchasing Managers’ Index (PMI) – a composite indicator designed to give an accurate overview of manufacturing operating conditions – reached a 21-month peak in November, the bank said. However, inflationary pressures intensified during the month, following three consecutive months of easing, HSBC said. “Among the surveyed sub-categories, the sharpest increase in purchase […]
Goldman Sachs has changed its interest rate call for India and now expects the Reserve Bank to cut key interest rates by 25bps each in February and April. It had earlier seen rates unchanged in the first half of 2015. “The main driver of this view is our commodities team’s forecast of weak oil prices […]
With wholesale inflation dipping to record lows, industry asssociations have renewed their calls for an immediate cut in interest rates. ASSOCHAM for example has sought a repo rate cut of up to 50 basis points (bps) in its fifth bi-monthly monetary policy review scheduled on December 2nd, if monsoon forecast for 2015 is normal, crude […]
Crisil Research has cut its forecast for current account deficit this financial year to $32 bln, or 1.55 of GDP, from $47 bln, or 2.2% of GDP, due to the sudden fall in oil prices. A country’s dealings with the rest of the world is divided into the current account and the capital account. Current […]
