Global Economy Remains Resilient Despite Challenges

17 Apr 2024 03:05 AM IST

Amid favourable market sentiment driven by stable fuel prices, positive monsoon outlook, festive demand and the marriage season, the Indian auto retail sector achieved a robust 27 per cent year-on-year growth in April 2024, even as the industry remains cautiously optimistic due to rising interest in new models, election-related uncertainty and financial challenges which are […]

Global Economy Remains Resilient Despite Challenges

17 Apr 2024 03:05 AM IST

The introduction of higher import duties and the Quality Control Order (QCO) has significantly impacted the toy trade in India with imports falling drastically from USD 304.1 million in FY2019 to USD 64.9 million in FY2024. Decisive steps — which include raising import duties — to curb the inflow of substandard toy imports by the […]

Global Economy Remains Resilient Despite Challenges

17 Apr 2024 03:05 AM IST

India’s service sector made a strong start to the first fiscal quarter as new business in terms of total sales and output registered the sharpest expansion in 14 years taking the seasonally adjusted HSBC India Services Business Activity Index to 60.8 in April. Despite falling from 61.2 at the end of the previous fiscal quarter, […]

Global Economy Remains Resilient Despite Challenges

17 Apr 2024 03:05 AM IST

India’s GDP is projected to grow at 7.8 per cent in the just-concluded financial year 2023-24 and the forecast is for around 6.6 per cent in each of the following two fiscal years, according to OECD’s latest Economic Outlook. However, global near-term developments pose obstacles to higher growth. In the Economic Outlook report released on […]

Global Economy Remains Resilient Despite Challenges

17 Apr 2024 03:05 AM IST

There are signs that the global outlook has started to brighten, though growth remains modest. The impact of tighter monetary conditions continues, especially in housing and credit markets, but global activity is proving relatively resilient, inflation is falling faster than initially projected and private sector confidence is improving. Supply and demand imbalances in labour markets […]

Global Economy Remains Resilient Despite Challenges

17 Apr 2024 03:05 AM IST

Bank credit growth to agriculture and services sector at more than 20 per cent year-on-year, in March 2024, surpassed loans to industry which grew by 8.5 per cent yoy in the month under observation. On a yoy basis, non-food bank credit registered a growth of 16.3 per cent in March 2024, as compared with 15.4 […]

Global Economy Remains Resilient Despite Challenges

17 Apr 2024 03:05 AM IST

Underscoring the robust health of the Indian economy, gross Goods and Services Tax (GST) collections hit a record high in April 2024 at Rs 2.10 lakh crore, representing a significant 12.4 per cent year-on-year growth. The surge was driven by a strong increase in domestic transactions which registered 13.4 per cent increase and imports which […]

Global Economy Remains Resilient Despite Challenges

17 Apr 2024 03:05 AM IST

Global gold demand was up 3 per cent year-on-year at 1,238 tonne in the first quarter of 2024, marking the strongest first quarter since 2016, according to World Gold Council’s Gold Demand Trends report. The demand for the yellow metal, excluding over-the-counter sales, fell 5 per cent to 1,102 tonne as compared to the same […]

Global Economy Remains Resilient Despite Challenges

17 Apr 2024 03:05 AM IST

Expects Nifty 50 to reach the range of 30,000-35,000 points in the next three years. According to an analysis by FidelFolio, the current general election and its outcome would not have any major long-term effect on the equity markets. Apart from few exceptions, the Nifty Indices have often demonstrated an upward trajectory around elections period, […]

Global Economy Remains Resilient Despite Challenges

17 Apr 2024 03:05 AM IST

In 2011, during a Planning Commission meeting, the then Home Minister P Chidambaram had batted for higher taxes on luxury products and re-imposing inheritance tax. An inheritance tax is a tax imposed by some states on the recipients of inherited assets. In contrast to an estate tax, an inheritance tax is paid by the recipient […]