S&P raises India growth forecast for FY25 to 6.8 per cent
In its "Economic Outlook Asia-Pacific report," S&P Global highlighted several factors expected to influence India's economic trajectory in the coming year. Among these factors are anticipated higher interest rates, a crackdown on unsecured lending, and efforts to reduce the fiscal deficit.News Arena Network - New Delhi - UPDATED: March 27, 2024, 01:07 AM - 2 mins read
Economy
See All![Benchmark stock market indices ended Friday's trading session on a weak note as banking and financial stocks declined. Benchmark stock market indices ended Friday's trading session on a weak note as banking and financial stocks declined.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fsensexxjpg_1720176949345.jpg&w=3840&q=8)
July 5, 2024, 03:55 AM - 2 mins read
Despite the dip in major indices, most broader market indices ended in positive territory as volatility declined. Among sectoral indices, Nifty Financial Services and Nifty Bank were the top losers, primarily due to a significant 4.5% drop in HDFC Bank shares.
Read more![The average cost of a vegetarian thali saw a significant increase of 10% in June, driven primarily by the rising prices of onions, potatoes, and tomatoes, according to Crisil Market Intelligence and Analysis' monthly "Roti Rice Rate" report released on Friday. The average cost of a vegetarian thali saw a significant increase of 10% in June, driven primarily by the rising prices of onions, potatoes, and tomatoes, according to Crisil Market Intelligence and Analysis' monthly "Roti Rice Rate" report released on Friday.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fveg-food-indianjpg_1720173333445.jpg&w=3840&q=8)
July 5, 2024, 02:55 AM - 2 mins read
The report highlighted that the cost of a vegetarian thali, which includes roti, vegetables (onions, tomatoes, and potatoes), rice, dal, curd, and salad, rose to Rs 29.4 per plate in June. This marks an increase from Rs 26.7 in the same period last year and from Rs 27.8 in May 2024.
Read more![Swiggy, the prominent online food and grocery delivery platform, has introduced its own UPI (Unified Payments Interface) service, aiming to reduce reliance on external payment apps, minimize payment failures, and streamline the checkout experience. Swiggy, the prominent online food and grocery delivery platform, has introduced its own UPI (Unified Payments Interface) service, aiming to reduce reliance on external payment apps, minimize payment failures, and streamline the checkout experience.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fswiggyjpg_1720166062178.jpg&w=3840&q=8)
July 5, 2024, 12:54 AM - 2 mins read
A source revealed that Swiggy has been testing the UPI service with its employees for the past month and plans to gradually roll out the service to all users in phases over the coming months. The UPI Plugin, launched by the National Payments Corporation of India (NPCI) in 2022, allows merchants to offer UPI payment services within their apps without needing a TPAP license.
Read more![The ninth Governing Council meeting of Niti Aayog, chaired by Prime Minister Narendra Modi and comprising state chief ministers, is expected to convene in August to deliberate on the ‘Viksit Bharat @2047’ vision document. The ninth Governing Council meeting of Niti Aayog, chaired by Prime Minister Narendra Modi and comprising state chief ministers, is expected to convene in August to deliberate on the ‘Viksit Bharat @2047’ vision document.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fmodi-meeting-niti-ayogjpg_1720160479750.jpg&w=3840&q=8)
July 4, 2024, 11:21 PM - 2 mins read
Sources reveal that ahead of the Council meeting, Finance Minister Nirmala Sitharaman will provide an initial overview of the ‘Viksit Bharat’ vision and action plan in the upcoming Budget later this month. The ambitious goal includes positioning India as a $30 trillion economy by 2047, driven by significant policy reforms and governance changes by 2030.
Read more![In a positive session for the Indian stock market, both the Sensex and Nifty indices ended the day in green territory. In a positive session for the Indian stock market, both the Sensex and Nifty indices ended the day in green territory.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fbull-bse-nsejpg_1720091173090.jpg&w=3840&q=8)
July 4, 2024, 04:06 AM - 2 mins read
Top gainers of the day included Tata Motors, HCL Tech, ICICI Bank, Sun Pharma and TCS. On the flip side, the day's laggards were HDFC Bank, Bajaj Finance, Adani Entertainment, Wipro, and Tech Mahindra. Sectoral indices showed a mixed performance. Financial services, FMCG, media, and metal ended the day in red.
Read more![As the Monsoon Session of the Parliament gears up to begin on July 22, the nation eagerly awaits the presentation of the Union Budget 2024 by Finance Minister Nirmala Sitharaman. This event is more than just a routine fiscal exercise, it marks a historic occasion as Sitharaman becomes the first finance minister to present seven consecutive Union Budgets. As the Monsoon Session of the Parliament gears up to begin on July 22, the nation eagerly awaits the presentation of the Union Budget 2024 by Finance Minister Nirmala Sitharaman. This event is more than just a routine fiscal exercise, it marks a historic occasion as Sitharaman becomes the first finance minister to present seven consecutive Union Budgets.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fsitharaman-budgetjpg_1720087357845.jpg&w=3840&q=8)
July 4, 2024, 03:02 AM - 3 mins read
Industry leaders like Jasvinder Bedi and Ramesh Alluri Reddy have rightly pointed out the need for a focus on skill development and formal job creation. The staffing industry plays a vital role in this regard and deserves official recognition and support. The upcoming budget must prioritize initiatives that bridge the skill gap and create a workforce ready for the demands of the modern economy.
Read more![Equity benchmark indices Sensex and Nifty reached their lifetime peaks in early trade on Thursday, driven by firm global market trends, significant buying in blue-chip stocks, and robust Foreign Institutional Investors (FII) inflows. Equity benchmark indices Sensex and Nifty reached their lifetime peaks in early trade on Thursday, driven by firm global market trends, significant buying in blue-chip stocks, and robust Foreign Institutional Investors (FII) inflows.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fsensexxjpg_1720074595029.jpg&w=3840&q=8)
July 3, 2024, 11:29 PM - 2 mins read
Among the top performers in the Sensex pack were Tata Motors, ICICI Bank, Mahindra & Mahindra, Infosys, HCL Technologies, and Tata Consultancy Services. Conversely, HDFC Bank, IndusInd Bank, Adani Ports and Special Economic Zone, and Bharti Airtel were among the laggards.
Read more![Sri Lanka has successfully reached a debt restructuring agreement with its international sovereign bondholders, marking a significant step in the nation's efforts to restore debt sustainability. Sri Lanka has successfully reached a debt restructuring agreement with its international sovereign bondholders, marking a significant step in the nation's efforts to restore debt sustainability.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Franilwickremesinghejpg_1720074006653.jpg&w=3840&q=8)
July 3, 2024, 11:20 PM - 2 mins read
The announcement follows the finalisation of debt restructuring agreements with bilateral lenders, including India and China, in Paris on June 26. President Ranil Wickremesinghe described this earlier agreement as a “significant milestone” in bolstering international trust in Sri Lanka's debt-ridden economy.
Read more![Union Minister for IT and Electronics, Ashwini Vaishnaw, announced on Wednesday that discussions regarding regulations for Artificial Intelligence (AI) are currently underway, stressing the necessity of achieving a political consensus. Union Minister for IT and Electronics, Ashwini Vaishnaw, announced on Wednesday that discussions regarding regulations for Artificial Intelligence (AI) are currently underway, stressing the necessity of achieving a political consensus.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fashwini-vjpg_1720019181213.jpg&w=3840&q=8)
July 3, 2024, 08:06 AM - 2 mins read
Speaking at the 'Global IndiaAI Summit', Minister Vaishnaw highlighted the importance of societal understanding of both the potential and threats posed by AI. "All sections of society must fully understand the threats and potential of Artificial Intelligence only then we should approach legal action," he told reporters.
Read more![The benchmark BSE Sensex breached the 80,000 level for the first time during intraday trading on Wednesday. The benchmark BSE Sensex breached the 80,000 level for the first time during intraday trading on Wednesday.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2F1500800-8jpg_1720003157187.jpg&w=3840&q=8)
July 3, 2024, 03:39 AM - 2 mins read
Conversely, Tata Consultancy Services, Titan, Reliance Industries, Tata Motors, and Larsen & Toubro were the major laggards. Asian markets showed mixed trends, with Seoul, Tokyo, and Hong Kong ending in positive territory, while Shanghai closed lower. European markets traded with gains, and US markets closed higher on Tuesday.
Read more![Madhya Pradesh Finance Minister Jagdish Devda presented the state budget for the year 2024-25 in the legislative assembly on Wednesday amid a ruckus created by the opposition Congress over an alleged nursing college scam. Madhya Pradesh Finance Minister Jagdish Devda presented the state budget for the year 2024-25 in the legislative assembly on Wednesday amid a ruckus created by the opposition Congress over an alleged nursing college scam.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fjagdish-devda-mp-fmjpg_1719989393228.jpg&w=3840&q=8)
July 2, 2024, 11:49 PM - 2 mins read
The budget presentation, intended to outline the government's fiscal plans and priorities for the upcoming year, was overshadowed by the persistent demands for accountability and resignation over the nursing college scam.
Read more![The Indian stock markets soared to new heights on July 3, with benchmark indices Nifty and Sensex reaching fresh record highs, driven by positive global cues. The Indian stock markets soared to new heights on July 3, with benchmark indices Nifty and Sensex reaching fresh record highs, driven by positive global cues.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fsensexxjpg_1719988687749.jpg&w=3840&q=8)
July 2, 2024, 11:38 PM - 2 mins read
HDFC Bank, the country's largest private bank, was a key highlight. The bank's increased weightage in the MSCI index is expected to rise as foreign institutional investors (FIIs) have greater room to buy stock. This potential for increased investment led to a rally in the Bank Nifty, which also hit a record high of 53,201.50.
Read more