World Bank's publication 'India Development Update' has noted credible signs of a further uptick in Indian economic growth.The rebound in industrial activity including manufacturing sector is critical for job creation in the years to come.The World Bank Report points to macroeconomic stability of the Indian economy. The World. . . . .
India's exposure to US government securities rose sharply to a high of $144.7 billion at the end of 2017, according to latest official data.The country remained the 12th largest overseas holder of such securities, just behind oil-rich Saudi Arabia, whose holding stood at $147.4 billion in December 2017. India has been. . . . .
The Indian economy grew at a five-quarter high of 7.2 percent in the October-December period reflecting overall recovery due to good show by agriculture, manufacturing, construction and certain services. The gross valued added for manufacturing in the quarter under review grew at 8.9 percent higher than 6.9 percent in the. . . . .
Dubai witnessed 15 percent growth in tourist arrivals from India in 2017, hosting 2.1 million visitors, retaining top spot as the source market. It also became the first country to cross the 2 million mark in a single year, according to the latest data published by Dubai's Department of Tourism and. . . . .
Cellphones, cars and motorcycles, fruit juices, perfumes, and footwear are among the several items that will become costlier after Finance Minister Arun Jaitley on Thursday hiked customs duties on them in Union Budget 2018-19. However, select items such as imported raw cashew nuts, solar tempered glass and raw. . . . .
Finance Minister Arun Jaitley delivered his Budget 2018 speech, with the government focusing on the agricultural sector and farmers' income. Signalling that fiscal prudence has gone off track, Jaitley proposed a fiscal deficit target of 3.3 percent of GDP for 2018-19. The target he had set for 2018-19 last year. . . . .
The government and World Bank signed a $100 million (about Rs 6,400 crore) loan agreement to promote rural economy in selected blocks of Tamil Nadu across 26 districts, benefiting over 4 lakh people. The Tamil Nadu Rural Transformation Project will create an enabling environment for producer. . . . .
India has been ranked sixth in the list of wealthiest countries with a total wealth of USD 8,230 billion, while the United States topped the chart. According to a report by New World Wealth, the United States is the wealthiest country in the world as the total wealth held in 2017 amounted to USD 64,584 billion, followed. . . . .
Asian Development Bank will give a loan of USD 250 million to the Indian government for construction of all-weather roads in five states under the Prime Minister’s rural road development scheme. The Asian Development Bank (ADB) and the Government of India signed a $250 million loan to finance the construction. . . . .
The Economic Survey 2018 has predicted that the Indian economy will be growing at a fast pace, with the GDP growing at 7-7.5 percent in the current fiscal. The survey also shows that the number of indirect taxpayers has increased by 50 percent after the implementation of the Goods and Services Tax (GST.) This is the. . . . .
The market capitalization of Tata Consultancy Services surpassed Rs 6 lakh crore mark for the first time ever to become the second Indian company to achieve this milestone after RIL. The market capitalization (m-cap) of TCS stood at Rs 6,12,696.46 crore. In the ranking of top-five firms, TCS stood at number. . . . .
As per the survey of CEOs by global consultancy PwC.India has emerged as the fifth most attractive market for investments and the optimism over global economic growth is at a record level. The US remains the top spot for global investment. Around 46% of global CEOs consider the US as one of the three most important. . . . .
India has moved up on a global index of talent competitiveness to the 81st position.India has improved its position from 92nd last year. India was at the 89th place in 2016 on the index that measures how countries grow, attract and retain talent. While Switzerland continues to top the list released every year on the first. . . . .
The World Economic Forum (WEF) released its Global Manufacturing Index putting India on the 30th position, five places below China, which is continuously striving to develop better avenues of manufacturing by boosting infrastructure. Meanwhile, Japan topped the rankings on the back of developing the best structure. . . . .
The Union government allowed overseas investors to make 100 percent FDI (foreign direct investment) in single-brand retail trading and construction development without any government approval.The decisions were taken at a Cabinet meeting, chaired by Prime Minister Narendra Modi in New Delhi. It also approved changes. . . . .
The net Direct Tax collections represent 67% of the total Budget Estimates of Direct Taxes for Financial Year (F.Y.) 2017-18 (Rs. 9.8 lakh crore). from April to December 2017 Gross collections adjusting have increased by 12.6% to Rs. 7.68 lakh crore. Refunds amounting to Rs.1.12 lakh crore have been issued during April to. . . . .
The World Bank is estimating India’s economy to grow by 6.7 percent during the current fiscal year, higher than the 6.5 percent estimate by the Indian government. The Gross Domestic Product (GDP) growth is expected to rise to 7.3 percent in 2018-19, making India again the world’s fastest growing economy,. . . . .