Core sector growth rebounds to 2% in Sept after Aug setback, CFO News, ETCFO
India’s core sector output growth rose 2% in September from a 42-month low of 1.6% the previous month, according to official data released on Wednesday. If the August reading is excluded, the growth in September was the slowest in around two years. Output had increased by 9.5% in September 2023.
Air India Express enters second phase of its transformation programme
After completing its merger with AIX Connect (formerly known as AirAsia India), Tata group-promoted low-cost carrier Air India Express now aims to achieve significant capacity as well as market share during the second phase of its transformation programme. Notably, the airline is guided by a five-year-long transformation programme, V1Rise, which
Coal imports witness modest rebound in September
New Delhi Following the end of the monsoon season including clocking the lowest imports in 2024 so far during August, India’s thermal coal shipments rebounded, albeit marginally, during September. However, seaborne thermal coal imports by the world’s third largest energy consumer are expected to rise further in the current month
Global rice prices drop over 10% after India lifts all curbs on exports
Rice prices in the global market have dropped by over 10 per cent over the past fortnight, mainly because of India lifting all curbs on exports and arrivals of new crops in Pakistan and Myanmar, traders said. “Rice cargo is being offered at discounts as the strong dollar has helped
India’s steel trade deficit surges to ₹19,404 crore in H1FY25 on soaring imports, plummeting exports
India’s steel trade deficit (excess of imports over exports) for April-September 2024 (H1FY25), in value terms, has widened to ₹19,404 crore, more than doubling over FY24 levels of ₹9,036 crore, as the country continued to remain a net importer of the metal. Rising Chinese shipments, including routing of the metal
With spending curbs and good tax mop-up, Centre limits fiscal deficit below 1/3rd of Budget Estimate in first 6 months
Spending curbs during elections during the first quarter and good growth in tax collection helped the Centre limit fiscal deficit to just 29 per cent of the Budget Estimate during the first six months (April-September) of the current fiscal, data from Controller General of Accounts (CGA) showed on Wednesday. The
Core sector bounces back in September, yet growth remains sluggish at 2%
The eight core industries’ output growth rebounded to 2 per cent in September 2024 after recording a mild contraction of revised 1.6 per cent in August 2024. The latest print was, however, substantially lower than 9.5 per cent growth recorded in September last year. In the first half this fiscal,
India’s auto market will shift to hybrid and CNG vehicles before the EV boom: S&P Global
India’s shift away from internal combustion engines (ICE) is expected to initially focus on alternative fuels such as hybrids and compressed natural gas (CNG), rather than a rapid move to full electrification despite the Indian government’s strong push for increased electric vehicle (EV) production, according to a report by S&P
Signs of divergence emerge in Centre and States’ fiscal consolidation efforts
While the Centre’s fiscal consolidation path is set to continue in FY25, Indian states’ fiscal consolidation path post-Covid looks like it’s being interrupted, according to Emkay Global Financial Services Ltd (EGFSL) “There are some risks emerging in the convergence path of Centre and States’ fiscal consolidation. The states’ fiscal situation
India fastest growing major economy, likely to become third largest soon: President Murmu, ETCFO
President Droupadi Murmu New Delhi, India is the fastest growing major economy and is likely to become the third largest economy soon, President Droupadi Murmu said on Tuesday. Addressing an event in Delhi, she said the Indian economy had been demonstrating resilience in the face of geopolitical challenges and the