Manufacturing improves, but Nikkei India PMI hits a low point

Business conditions across the Indian manufacturing economy improved further in October, but purchasing manager index showed weakness, research commissioned by The Nikkei newspaper showed. October saw the weakest rise in output in current 24-month sequence of expansion and new orders increased at a slower pace. The Nikkei India PMI hit a 22-month low in October. […]

Modi Govt needs to deliver on reforms, spare RBI powers; business confidence falling – Moody’s

Moody’s Analytics, a division of global ratings firm Moody’s, has warned that the current government at the center needs to start delivering on its reform promises as business confidence is starting to dip. The firm also warned that meddling in Reserve Bank of India’s powers to manage interest rates could have a bearing on India’s […]

Moody’s: Indian base metal industry to benefit from rising demand

Moody’s Investors Service said that India’s base metals industry — aluminium, copper, and zinc — will benefit from increased demand, easing restrictions on raw material availability, and relatively low production costs. “We expect India’s consumption of base metals to increase by 8%-10% annually over the next three years, driven primarily by demand from three sectors: […]

Near normal monsoon to push up Indian GDP growth to 7.4-7.6% in this year -ICRA

Rating agency ICRA said the normalization of monsoon has increased the probability of GDP growth in India rising to 7.4-7.6% this year as well as that of an interest rate cut during the October-December quarter of this year. “Following bouts of unseasonal rainfall in the pre-monsoon period, the surplus monsoon rainfall in June 2015 has […]

Improving monsoon, manufacturing to boost economy, says Jaitley in San Fransicso

Finance minister Arun Jaitley said India’s economic growth prospects for the current year is improving with the improvement in monsoon rains. Speaking an interaction with representatives of Silicon Valley companies such as Microsoft, Amazon, Oracle, Google, Cisco, First Solar, Aemetis, Ebay and so on, Jaitley said monsoon predictions are improving and with it the prospects […]

Supreme Court orders RBI to transfer Greenpeace funds to IDBI bank ac

The Delhi High Court today issued notice to the Ministry of Home Affairs (MHA) seeking its response in a petition filed by Greenpeace India alleging that the government had blocked its foreign funds. The court also directed that Greenpeace India’s blocked funds to be moved from RBI’s account to the NGO’s account with IDBI Bank, […]

Kerala richest, Bihar poorest: according to expenditure numbers from NSSO survey

The average amount spent by an Indian has gone up by 66% in rural areas 70% in urban areas — with Keralites being the “richest” among the big states, according to the results of the last year’s expenditure survey the Government of India’s National Sample Survey Office (NSSO). The average (per head) expenditure figures are […]