Economy out of woods, growth to hit 6.5-7% for FY18: Niti VC

The September quarter growth rebound shows that the economy has come out of the woods and economic expansion for the full year will come in at 6.5-7 per cent, Niti Aayog Vice-Chairman Rajiv Kumar said as per the PTI report. For the moment, "we must celebrate uptick in the economy", Kumar further said. "We have now started rising again.

The economy has come out of the wo

Expect economic growth to improve further in Oct-Mar: Industry

With India's growth improving to 6.3 per cent in July-September, industry bodies said the economy is on a solid recovery path and may fare better in the second half of 2017-18 as businesses adjust to GST, reported PTI. The expansion reversed five quarters of slackening GDP growth and came on the back of an improved show by manufacturing.

The gross domestic product (GDP) growth had

Economy bounces back, expands 6.3% in September quarter

Reversing a five-quarter slide in GDP growth, Indian economy bounced back from a three-year low to expand by 6.3 per cent in July-September as manufacturing revved up and businesses adjusted to the new GST tax regime, reported PTI. The GDP growth in the second quarter of 2017-18 compares to 5.7 per cent in April-June, the lowest growth rate since the Narendra Modi government took office, and 7.

India has standardised itself for 7-8% growth: Arun Jaitley

Finance Minister Arun Jaitley today said improved macroeconomic fundamentals have placed India on 7-8 per cent growth trajectory and the country needs big infrastructure investments over next two decades to evolve into a middle income economy and then into a developed one, reported PTI. The funding requirement for infrastructure in the country is huge and there is a requirement of a whopping Rs

Intend to move on track on fiscal deficit glide path: Finance Minister

Finance Minister Arun Jaitley said he intends to be on track on lowering fiscal deficit even as the figure for April-October hit 96.1 per cent of budget estimates, reported PTI. "The FRBM (Fiscal Responsibility and Budget Management) report is under consideration. The last three years, we have an exemplary record as far as maintaining that glide path is concerned. We intend to move on that

Indian November factory growth fastest since late 2016 currency shock - PMI

India's factory activity quickened in November at the fastest pace since just before the government's surprise cash clampdown late last year, driven by a surge in new orders, a business survey found.

Responding to improving demand, manufacturers cranked up output for the fourth month in a row, and hired new workers at the fastest pace in five years.

That suggests a d

GDP numbers show impact of GST, demonetisation behind us: Finance Minister

Finance Minister Arun Jaitley said the rise in GDP growth rate to 6.3 per cent in the July-September period of 2017-18 signals a reversal of downtrend witnessed over the preceding five quarters, reported PTI. The minister further said the impact of two significant reforms -- demonetisation and rollout of the Goods and Services Tax (GST) -- is "behind us", and the country can now look

Government doesn`t recognise crypto currency as legal: Arun Jaitley

With virtual currency gaining traction among investors, Finance Minister Arun Jaitley said India does not recognise crypto currency as legal tender, reported PTI. Earlier, virtual currency bitcoin touched a record high of USD 11,434, before declining 20 per cent. "Recommendations are being worked at. The government's position is clear, we don't recognise this as legal currency as o

GDP increase reflects solid economic management: Amit Shah

BJP President Amit Shah on Thursday hailed the spike in figures on economic growth for the second quarter of 2017 as a "reflection of solid economic management" and said he anticipated more employment generation in the country.

"Today's GDP numbers reiterate the 'India Unstoppable' story under PM (Narendra Modi). The strong rebound in growth is a reflection

GDP growth of Q2 may go up further: Hasmukh Adhia

Finance Secretary Hasmukh Adhia has said that there may be an underestimation in the second quarter GDP growth rate figure of 6.3 per cent, which could go up further after the real picture about the indirect taxes becomes clear. Commenting on the issue, Finance Secretary Hasmukh Adhia told the media, “Even the Chief Statistician "was not too sure" whether this is the final numbe

Growth has returned: NITI Aayog CEO

With the GDP growing during the second quarter of 2017-18 after a five-quarter slide, NITI Aayog CEO Amitabh Kant on Thursday said growth has returned and the country will now move ahead on a higher growth trajectory.

All sectors of the economy are bouncing back, he told reporters on the sidelines of Global Entrepreneurship Summit (GES) here.

Claiming that the investment by

Rise in Q2 GDP signals economic recovery: India Inc.

India Inc. on Thursday said the rise in the second quarter (Q2) GDP numbers showed signs of economic recovery.

"Growth numbers are in sync with the expectations and re-affirm that signs of recovery are in sight," said Pankaj Patel, President of Ficci.

"The performance of industrial sector has noted an improvement after dropping to the lowest in almost five yea

Economy will witness higher growth in coming quarters: Arun Jaitley

Lauding the upward movement of the GDP number for the second quarter of 2017-18, Finance Minister Arun Jaitley said the rise in growth after five quarters marks the reversal of the trend and the economy will witness high growth rates in the coming quarters.

"Last five quarters have witnessed downward trend. The 6.3 per cent rise during Q2 of 2017-18 marks the reversal of that tre

Demonetisation, GST continue to damage economy: Mamata Banerjee

 Taking a dig at the central government on GDP numbers, West Bengal Chief Minister Mamata Banerjee on Thursday said "effects of note ban scam" and "unplanned" implementation of Goods and Services Tax (GST) continue to damage India's economy.

According to official data released on Thursday, gross domestic product (GDP) at constant prices in the second quart

SMEs can be crucial in stemming environmental degradation: M. Venkaiah Naidu

Vice President M. Venkaiah Naidu on Thursday said small and medium enterprises (SMEs) can play a crucial role in checking climate degrading practices in the industrial sector and ensuring a "greener future".

Addressing the 21st International Conference on Small and Medium Enterprises organised by the World Association for Small and Medium Enterprises, Naidu said that people

Wait for 3-4 quarters before concluding on growth rate: P Chidambaram

Former Finance Minister P Chidambaram on Thursday said he was happy that the economy has registered a growth of 6.3 per cent in the latest quarter but still one cannot say whether this will mark an upward trend in the growth rate.

"I am happy that the July-Sept quarter has registered a growth rate of 6.3 per cent. This is a pause in the declining trend of the last five quarters.<

Q2 GDP numbers reflect reversal of downtrend: Arun Jaitley

Finance Minister Arun Jaitley said the rise in GDP growth rate to 6.3 per cent in the July-September period of 2017-18 signals a reversal of downtrend seen over the preceding five quarters, reported PTI. The economy now seems to have weathered the transitional challenges experienced earlier in the year and appears poised for a durable recovery going forward, he told reporters.

"T

Expert Views: India`s economy grows 6.3 percent in July-Sept

MUMBAI  - India's economy grew 6.3 percent in the three months ending in September from a year earlier, in line with expectations and faster than a provisional 5.7 percent in the previous quarter, government data showed on Thursday.

COMMENTS

TUSHAR ARORA, SENIOR ECONOMIST, HDFC BANK

"The GDP number is

Indian November factory growth fastest since late 2016 currency shock - PMI

India's factory activity quickened in November at the fastest pace since just before the government's surprise cash clampdown late last year, driven by a surge in new orders, a business survey found.

Responding to improving demand, manufacturers cranked up output for the fourth month in a row, and hired new workers at the fastest pace in five years.

That suggests a d

Flat income tax system undesirable: Industry, trade officials

As the taskforce to draft a new direct tax law gets cracking, industry and trade officials say a flat rate income tax system is undesirable for a country like India with wide income inequality, reported PTI. The new law is to replace the existing Income Tax Act, 1961. "A flat rate is not progressive in an unequal society," Ficci Secretary General Sanjaya Baru told PTI, when asked abou

India`s infrastructure output grows 4.7 percent in October: government

NEW DELHI  - India's annual infrastructure output grew 4.7 percent in October from a year ago, driven by higher refinery production, government data showed on Thursday.

The growth in output compares with a downwardly revised 4.7 percent year-on-year growth in September.

During April-October, the annual output growth was 3.5 percent, data showed.

Brighter outlook for APAC banks, but risks remain: Fitch Ratings

Outlook for bank performance in Asia-Pacific (APAC) is decidedly less negative than at the start of 2017, with the improved economic backdrop likely to support loan demand and asset quality, says Fitch Ratings. The rating agency said that benign environment has the potential to mask weakening lending standards in markets where credit is growing particularly strongly, but any fallout is unlikely

India`s Jan-Oct tea exports jump 6.6 percent

MUMBAI  - India's tea exports in the first ten months of 2017 jumped 6.6 percent from a year ago to 189.68 million kg as Iran and China purchased more, the state-run Tea Board said in a statement on Thursday.

Iran bought 20.98 million kg tea during the period, up from 18.67 million kg a year ago, the Board said.

India, the world's second-biggest

India needs `boom period to achieve 10% growth: Arun Jaitley

Finance Minister Arun Jaitley on Thursday said the country will need a "boom period" like during 2003 to 2008 in order to achieve a 10 per cent growth, which is a "challenging figure".

"A 10 per cent growth is a very challenging figure and a 10 per cent growth will not depend merely on domestic factors. It will also depend on how the world is moving," Jai

India hopes to have world class infra in two decades: Arun Jaitley

Expressing hope that India will be able to create "world class infrastructure" in another 20 years, Finance Minister Arun Jaitley on Thursday said that his confidence in the timeline was based on how the country has become an "aspirational society" whose energies have been unleashed by the 1991 economic liberalisation.

Delivering the annual Defence Estates Day Lect