Despite heavy supply, debt cost slips marginally for states to 7.32 per cent

2023-06-06 13:50:50 Despite larger than notified supplies, the average cost for the states that hit the market on Tuesday will be less in terms of coupons, which slipped by 3 bps to 7.32 per cent. Twelve states have raised Rs 17,300 crore through state government securities in the auction held on Tuesday, which is a … Read more

GST kitty swells, factory activity hits 31-month high

2023-06-02 05:13:16 Data released Thursday indicated India’s sustained economic momentum at the start of the new fiscal year, with goods and services tax (GST) collection growing at a rapid clip in May as manufacturing activity hit a 31-month high in the month. Vehicle and fuel sales backed up the trend. Numbers released a day earlier … Read more

india q4 gdp: Q4 GDP numbers spring a surprise, lift FY23 growth to 7.2%; India stays fastest-growing major economy

2023-06-01 01:23:09 New Delhi: A stronger-than-expected fourth quarter lifted India’s growth to 7.2% in FY23, exceeding the 7% cited in the second advance estimates released in February, underscoring the country’s economic resilience in the face of multiple challenges. The gross domestic product (GDP) rose 6.1% in the March quarter from a year earlier, accelerating sequentially … Read more

Some money may now flow into gold, realty and high-value white goods

2023-05-22 19:24:55 The withdrawal of ₹2,000 notes would not significantly impact consumption patterns, but certain high-ticket items, like gold, and high-value white goods, may experience a shot in the arm temporarily, economists told ET. Given the comfortable timelines of exchange and clear messaging from the government, the macro impact would be ephemeral and marginal, they … Read more

India’s production incentive scheme draws $6.54 bn in investments- Statement

2023-04-26 12:12:04 A key Indian government scheme designed to spur local production has drawn investments totaling 535 billion rupees ($6.54 billion) till December 2022, a trade ministry statement said on Wednesday. Investments under the production-linked incentive, or PLI scheme, are expected to rise further to 2.74 trillion rupees as the scheme runs its course, as … Read more

States may be allowed to settle off-budget borrowings by FY27

The Centre is considering relaxing the borrowing norm for states to give them one more year till FY27 to bring their ‘off-budget’ borrowing within the annual budget by repaying such loans. Many states have already started the clean-up, helping reduce the consolidated off-budget borrowings of the states to ₹18,500 crore in FY23 from ₹67,000 crore … Read more