Mumbai: Overseas Indians sent home a record $29 billion by way of remittances in the December quarter as steadily climbing returns from FCNR (foreign currency – non resident) instruments have made such savings plans more lucrative than bank deposits in the West. To be sure, remittances are a source of permanent flows, unlike repatriable NRI … Read more
India‘s gross domestic product (GDP) will grow by 8% or more in the fourth quarter of current fiscal year, Finance Minister Nirmala Sitharaman said on Saturday. Sitharaman said that the economy is expected to show the same rate of year-on-year expansion for the 2023/24 financial year due to the impact of improved inflation management and … Read more
“Given the current scenario, deploying 80% of the equity allocation through weekly STP over the next 8-10 weeks is advisable, with the remaining allocation to be adjusted post-election, depending on the prevailing conditions. STP/SIP remains the preferred route for investing,” says Kshitiz Mahajan, CEO of Complete Circle Wealth. In an interview with ETMarkets, Mahajan said: … Read more
New Delhi: The Ministry of Statistics and Programme Implementation (MoSPI) reduced the number of estimates and the timeline for releasing final estimates for GDP by one year, by doing away with the third revised estimate. The ministry will now release five GDP numbers instead of six, with the final revision coming nearly two years from … Read more
“Japan is a very strong story and it trades only about fourteen-and-a-half times one year forward PE,” says Jonathan Garner, Morgan Stanley.So, are you saying we should expect only, let us say, mid-single digit kind of realistic return expectation from the Indian markets as well?That is the base case. As I mentioned, the bull case … Read more
“I think right from the very beginning, when the preparations for this budget started, honourable PM was very clear and the guidance which we had was very clearly to give a direction towards the next 5 years, 10 years and so on,” says Nirmala Sitharaman, Finance Minister.Navika Kumar: Being a woman and making it to … Read more
India has been the fastest-growing major economy for the third successive year. Despite global headwinds, including geo-political realignment, India’s economy would continue its strong and resilient growth of 6.7% in FY 2024 and 6.2% in FY 2025. The first Advance Estimates of National Income 2023-24 placed macro-economic growth at 7.3% in FY 24 vis-a-vis 7.2% … Read more
The World Bank warned on Tuesday that global growth in 2024 is set to slow for a third year in a row, prolonging poverty and debilitating debt levels in many developing countries. Hamstrung by the COVID-19 pandemic, then the war in Ukraine and ensuing spikes in inflation and interest rates around the world, the first … Read more
New Delhi: The government is likely to stay on the fiscal course-correction glide path in the interim budget for FY25, shunning populist spending or incentives ahead of the summer general election, said people aware of deliberations on the subject. The post-Covid-19 fiscal consolidation roadmap proposed by the government estimates the fiscal deficit at 4.5% of … Read more
The Indian economy kept its momentum, growing nearly a percentage point higher than expected at 7.6% in the second quarter, buoyed by the manufacturing and construction sector, with experts suggesting an upside to the full-year number. “Given the higher than forecast outcome for Q2, we are revising our FY2024 growth forecast to 6.2% from 6.0%,” … Read more