ECONOMIC SITUATION
Governor CV Ananda Bose asks TMC govt to issue white paper on West Bengal's financial situation
"The fiscal situation of West Bengal is confronting multiple fiscal risks and public finance management issues exposing serious lapses on the part of the (state) government. It is very disturbing, shocking, and shattering to see that West Bengal is facing a financial breakdown. Its public finance is in the doldrums," Governor CV Ananda Bose claimed in a statement issued by the Raj Bhavan on Saturday.
Maharashtra's economy expected to grow by 7.6 per cent in FY24: Economic Survey
Maharashtra’s economy is projected to grow by 7.6% in 2023-24, mirroring India's expected growth rate. The state’s agriculture sector, impacted by adverse conditions, is set to increase by 1.9%, while the industry and services sectors are forecasted to expand by 7.6% and 8.8%, respectively.
What should be your investment strategy after elections?
Market volatility post Indian election triggered short-term turbulence, yet history shows eventual alignment with economic fundamentals. Resilient corporate earnings, infrastructure development and vigilant sector monitoring are emphasized for long-term strategic investments amidst fluctuating market conditions.
Sri Lanka reaches deal on debt restructuring with bilateral creditors including India, China and France
Sri Lankan President Ranil Wickremesinghe announced a debt restructuring deal with India, France, Japan, and China, a critical step in economic recovery after the 2022 debt default. Under an IMF bailout program, the agreement is expected to revive stalled foreign projects. Sri Lanka declared bankruptcy in 2022 due to economic mismanagement, COVID-19 impacts, and tax cuts. The deal defers loan payments until 2028 and extends repayment until 2043. Supporters celebrated the announcement in Colombo as it promises to restart crucial infrastructure projects.
What is Azm-e-Istehkam, Pakistan's new military operation tasked to take on TTP and other militant groups
Pakistan’s leadership approved a new military operation, Azm-e-Istehkam (Resolve for Stability), to combat rising violence and terrorism. Following Prime Minister Shehbaz Sharif’s review of counterterrorism efforts, the operation targets domestic security threats and cross-border fighters from Afghanistan. The initiative includes socioeconomic measures to reduce extremism and aims to strengthen legal support for prosecuting terrorists. The plan addresses increased violence, potential cross-border tensions, and Chinese concerns about infrastructure security.
- Go To Page 1
Real rate of interest at 1.5 pc apt for economy: Shashanka Bhide
Shashanka Bhide, an external member of the rate-setting panel, suggests a real interest rate of 1.5% for India, closely tied to achieving the Monetary Policy Committee's 4% inflation target. He emphasizes the importance of favorable macroeconomic conditions for high economic growth.
Dollar extends gains against yen with US economic strength in focus
The dollar strengthened against the yen, euro, and sterling amidst U.S. economic concerns and central bank actions. Bitcoin price rose to $65,105 amidst market fluctuations.
S Jaishankar: A diplomat for all seasons and all situations
Dr Subrahmanyam Jaishankar, known for his realistic view of foreign policy, has played a key role in defending India's position on the Russia-Ukraine conflict and advancing India's interests with the Quad to balance expansionist tendencies in the Indo-Pacific region.
See policy continuity even with coalition government: Gokul Laroia, CEO, Morgan Stanley Asia
Morgan Stanley's Asia CEO Gokul Laroia discussed Indian elections, markets, and risks with Nishanth Vasudevan before an investor conference.
Modi 3.0: How different will be the third Modi government
Narendra Modi is scheduled to take take oath for the third term as India's Prime Minister in a changed political landscape. Allies demand concessions, potentially affecting economic agenda. Expectations for populist budget with focus on welfare and rural areas, though concerns raised over economic impact. Reform agenda may face challenges due to weakened mandate, but continuity likely in infrastructure investment and business environment improvements.
As Modi 3.0 begins, where the economy stands, where it's headed
Narendra Modi is set to begin his third term as PM with a full-strength NDA team, amidst optimism for India's economic future. RBI Governor Shantikanta Das highlighted the country's robust economic growth, strong manufacturing sector, recovering rural demand, and promising investment activity. India's external sector remains resilient, with positive growth prospects ahead.
All okay with Joe Biden? A chair mix-up at D-day anniversary sparks health speculations
US President Joe Biden's confusion at a D-Day event in France, with wife Jill Biden and French President Macron, raises health concerns. Video shows him searching for a chair, while Jill Biden escorts him off stage. Previous incidents, like the APEC summit in California, have also fueled debates over his health. The incident has prompted diverse reactions online.
Coalition politics, weakened mandate could make passing legislations on ambitious reforms challenging: Fitch
Fitch Ratings predicts that the new government in India, led by Narendra Modi, will face challenges in passing legislation on ambitious reforms due to coalition politics and a weakened mandate. Major reforms to land and labour laws will remain on the agenda, but these have been contentious and the NDA's weaker mandate could complicate their passage further. The BJP fell short of a single-party majority in the 543-seat lower house of parliament for the first time since its latest period in government in 2014.
Market will soon start acting and reacting to economic fundamentals
The unexpected election results and resulting uncertainty have triggered market jitters, reminiscent of similar situations in 2004 and 1991
Should Joe Biden downplay his own success?
"People telling Biden to downplay the fact that his big spending has worked out well for the economy are to some degree revealing their own ideological biases rather than giving solid political advice."
Young Pakistan wicket-keeper Azam Khan courts controversy by wiping sweat with dollar note
Azam Khan faces backlash for using a US dollar note to wipe his eyebrows in a video with Pakistan captain Babar Azam, drawing criticism for insensitivity. Pakistan Cricket Board officials have reportedly told the players to avoid unnecessary social media posts.
UN raises India's 2024 growth forecast to 6.9%
The revision by the UN follows similar moves by other multilateral agencies following India's strong economic performance last fiscal.
UN revises India's 2024 growth forecast to 6.9%
“India’s economy is forecast to expand by 6.9 per cent in 2024 and 6.6 per cent in 2025,29 mainly driven by strong public investment and resilient private consumption,” the UN Department of Economic and Social Affairs said.
UN upgrades India's 2024 growth forecast to 6.9% from 6.2%
The World Economic Situation and Prospects as of mid-2024, released Thursday, said, "India's economy is forecast to expand by 6.9 per cent in 2024 and 6.6 per cent in 2025, mainly driven by strong public investment and resilient private consumption. Although subdued external demand will continue to weigh on merchandise export growth, pharmaceuticals and chemicals exports are expected to expand strongly."
Samco Special Opportunities Fund, and two Bajaj Finserv Mutual Fund NFOs open for subscription this week
Bajaj Finserv Multi Asset Allocation Fund and Samco Special Opportunities Fund NFOs open this week, focusing on diverse investments like equity, debt, Gold ETFs, and special situations for potential capital growth.
Making Adjustments to Deal with West Asian Crisis, Says L&T CFO
Larsen & Toubro (L&T), a leading engineering firm, saw its stock price drop to a two-month low of Rs 3,290, declining by 6% on the Bombay Stock Exchange (BSE) on Thursday following a reduction in its margin forecast. But L&T remains optimistic about its engineering, procurement, and construction (EPC) sector, as well as its ventures in green energy.
RBI announces launch of 'inflation expectations' and 'consumer confidence' surveys for monetary policy inputs
The RBI has launched two new surveys, the 'Inflation Expectations Survey of Households' and the 'Consumer Confidence Survey,' ahead of its June monetary policy review. These surveys will gather insights crucial for monetary policy decisions. The 'Inflation Expectations Survey' will collect data on price changes and inflation expectations from households in 19 cities. Meanwhile, the 'Consumer Confidence Survey' will gather views on the general economic situation, employment, prices, income, and spending. Both surveys aim to provide a comprehensive understanding of economic trends and sentiments.
Ready to support Pakistan to improve its economic situation: IMF
IMF is ready to aid Pakistan in crucial reforms for economic growth. Jihad Azour stresses fiscal work, energy sector reform, and structural changes. Pakistan seeks to enhance revenue, reduce deficits, and improve economic stability. The last review was successful and will be put forward to the board, which will end a programme that helped Pakistan address acute economic imbalances and maintain its economic stabilities, the IMF official hoped.
FM Sitharaman rakes up scams, unemployment, Kerala's economic situation to attack LDF, UDF
Nirmala Sitharaman criticizes Kerala's poor fiscal management by UDF and LDF, surpassing borrowing limits through entities like KIIFB, impacting state development. She highlights significant differences in tax devolution under UPA and Modi governments.
ETMarkets Fund Manager Talk: Why this asset manager doesn’t see a “doom and gloom” situation for mid & smallcaps?
Sonam Srivastava says investors should adopt a cautious, value-oriented approach post-stress test results. The emphasis is on strong fundamentals, avoiding overheated valuations, and closely monitoring holdings for potential risks can benefit stability within the mid- and small-cap segments. She says: "Investors should carefully analyze the financial health and future prospects of companies inthis segment before making investment decisions."
RBI central board reviews domestic economic situation, outlook
RBI's central board under Governor Shaktikanta Das reviewed global, domestic economic outlook, digital payments progress, consumer education at Nagpur meeting. Directors, deputy governors discussed financial market challenges and budget approval for 2024-25.
Congress 'black paper' says 'economy devastated' under BJP-led NDA
Congress counters Centre's white paper with 'black paper' on 10 years of Modi rule, citing economic devastation, unemployment, and agrarian distress. Congress chief Kharge alleges threats against dissenters, citing personal experience. The document criticizes BJP for high unemployment rates, inflation, unmet promises to farmers, and rising atrocities against marginalized communities. It accuses the government of neglecting workers' wages, rural job schemes, and SMEs, while highlighting allegations against Adani Group and electoral bond misuse.
Load More
