Economy a picture of positivity: RBI

January 18, 2024

Reserve Bank of India Governor Shaktikanta Das expects the Indian economy to grow 7 per cent in fiscal 2024-25 on the basis of the strong momentum of economic activity seen in India and sustain a 7 per cent and above rate for four consecutive years starting from FY 2021-22. Even...

Gujarat, K’taka, Kerala and TN lead states in startup ranking

January 17, 2024

Gujarat, Karnataka, Kerala and Tamil Nadu have emerged as top rankers in the fourth edition of states’ ranking on startup policies which saw the highest-ever participation with 33 states and Union territories participating. A ‘National Report’ encompassing the full exercise, along with a ‘compendium of best practices’ and individual ‘state...

Goyal for pushing exports via FTAs

January 17, 2024

Minister of Commerce and Industry Piyush Goyal on Tuesday announced initiation of work on the Trade Connect ePlatform and called upon the reconstituted Board of Trade to adopt a two pronged strategy to leverage FTAs and push exports for India’s benefit as well as encourage startups, MSMEs to start exporting....

Auto PLI surpasses target, garners Rs 67,690 CR in 5 Years

January 17, 2024

The Production Linked Incentive for the auto sector has been successful in attracting a proposed investment of Rs 67,690 crore against the target estimate of investment of Rs 42,500 crore over a period of five years. A total of 115 companies had filed 120 applications under this PLI scheme. Out...

Toy exports surged 239%, imports declined 52 % in FY15-23

January 5, 2024

The Indian Toy industry witnessed 239 per cent rise in exports and 52 per cent decline in imports in financial year 2022-23 over FY 2014-15, buoyed by Government efforts to boost the sector. Policy enablers led to doubling of manufacturing units, reduction in imported inputs from 33 per cent to...

India’s manufacturing PMI at 18-month low in Dec at 54.9, on lesser new orders

January 4, 2024

India’s manufacturing sector growth in December 2023, measured by the HSBC India Manufacturing Purchasing Managers’ Index (PMI), registered an 18-month low of 54.9 in December, with growth reportedly curbed by fading demand for certain types of products. In a similar vein to the trend for output, new orders placed with...

Banking system resilient, poised for growth amid global challenges

December 28, 2023

Amidst a highly uncertain outlook for the global environment, the Indian banking system has been well positioned to improve further, with better asset quality, high capital adequacy and robust profitability supported by bright prospects for domestic economic activity. The consolidated balance sheet of scheduled commercial banks (SCBs) in 2022-23 expanded...

CAD slips to 1% of GDP in Q2, experts peg range of 1.5-1.8% of GDP in FY24

December 27, 2023

India’s current account deficit posted a sharp decline to 1 per cent of the GDP at $ 8.3 billion in the September quarter of the current fiscal 2023-24, lower than the deficit of 1.1 per cent of the GDP at $ 9.2 billion in the first quarter of FY24 and...

Plane fleet increased from 400 in 2014 to 644 aircraft in 2023: Scindia

December 22, 2023

The Indian Civil Aviation sector is witnessing a rapid expansion of fleet with the number of aircraft increasing from 400 in 2014 to 626 in 2022 and now reaching 644 in 2023. The number of aircraft on ground roughly stands at 140 from the point of view of the scheduled...

CPSEs posted 57% increase in gross revenue, 27.5% rise in net profit in FY21-23

December 22, 2023

India’s central public sector enterprises logged 57 per cent growth in gross revenue and 27.5 per cent growth in net profit between 2020-21 and 2022-23 and an exponential growth in procurement in Government e-Marketplace from Rs 7,035 crore in 2020-21 to Rs 133,720 crore in 2023-24 (upto November 2023), according to the Department of Public Enterprises. The presentation on progress...