Business conditions across the Indian manufacturing economy improved further in October, but purchasing manager index showed weakness, research commissioned by The Nikkei newspaper showed. October saw the weakest rise in output in current 24-month sequence of expansion and new orders increased at a slower pace. The Nikkei India PMI hit a 22-month low in October. […]
Indirect Tax Collections figures for the first four months of the financial year have pointed to an increase in the tax collection as compared to last year. Indirect tax collection for April-July 2015 registered increased by 37.6% over the same period last year, says the release published by CBEC. For July 2015, increase in indirect […]
Moody’s Analytics, a division of global ratings firm Moody’s, has warned that the current government at the center needs to start delivering on its reform promises as business confidence is starting to dip. The firm also warned that meddling in Reserve Bank of India’s powers to manage interest rates could have a bearing on India’s […]
Moody’s Investors Service said that India’s base metals industry — aluminium, copper, and zinc — will benefit from increased demand, easing restrictions on raw material availability, and relatively low production costs. “We expect India’s consumption of base metals to increase by 8%-10% annually over the next three years, driven primarily by demand from three sectors: […]
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 […]
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 […]
Deutsche Bank said it is likely that the Reserve Bank of India would next cut policy interest rates in early March, and follow that up with more cuts through this year. It also said it was looking at the revised GDP numbers with “some degree of caution”. “The RBI will not only cut in early-March, […]
The Delhi High Court today issued notice to the Ministry of Home Affairs (MHA) seeking its response in a petition filed by Greenpeace India alleging that the government had blocked its foreign funds. The court also directed that Greenpeace India’s blocked funds to be moved from RBI’s account to the NGO’s account with IDBI Bank, […]
Bank of America Merrill Lynch, a financial conglomerate, has said that it saw banks cutting interest rates in the upcoming slack season starting September. It said, with the RBI keeping its rates on hold as part of its monetary policy review yesterday, chances of a ‘long hold’ of Reserve Bank’s interest rates are now high. […]
Congratulations have been pouring in to Narendra Modi and the Bharatiya Janata Party on their victory in the general elections 2014. Some associations, such as the real estate builders association, have used the occasion to ask for urgent reforms to be put in place to save the Indian economy. The following are some of the […]
The average amount spent by an Indian has gone up by 66% in rural areas 70% in urban areas — with Keralites being the “richest” among the big states, according to the results of the last year’s expenditure survey the Government of India’s National Sample Survey Office (NSSO). The average (per head) expenditure figures are […]
