BUSINESS
Moody's raises India's GDP forecast to 6.7% for 2023
"Since the second quarter out performance creates a high base in 2023, we have lowered our 2024 growth forecast from 6.5 percent to 6.1 per cent. Given the robust underlying economic momentum, we also recognise further upside risk to India’s economic growth performance," it said on Friday.
SEBI proposes agency to validate claims of intermediaries
Intermediaries/ ther entities need to showcase their performance to attract more clients and grow and continue to do business. However, in the rush for more clients, some of these entities may indulge in making inflated claims of their performance or recommendations to investors, thereby misleading the investors, said a SEBI consultation paper.
ICEA urges govt to rethink Nov 1 laptop import restriction deadline, seeks 9-month breather
In the letter sent to Alkesh Kumar Sharma, Secretary, MeitY, on August 22 and seen by IANS, Pankaj Mohindroo who is the Chairman of ICEA wrote that an overarching factor that should be taken into consideration in "avoiding supply chain disruption till domestic production ramps up" is that any “reduction in supplies or even an indication will lead to hoarding and market distortion”.
NCLAT permits Go First lessor to inspect leased aircraft
This decision follows a similar observation made in the case of Engine Lease Finance BV – the first lessor to approach the tribunal – on August 18 wherein it had modified the National Company Law Tribunal (NCLT)'s July 26 order to permit the engine lessor to carry out inspection of four engines of aircraft leased to Go First.
India's GDP growth towers over several economies, says chief economic adviser
"India’s quarterly GDP growth towers over that of many other economies.The government and the RBI are comfortable in holding on to their 2023-24 GDP growth forecast of 6.5 per cent," chief economic adviser V Anantha Nageswaran said, while reacting to the GDP numbers.
India's April-July fiscal deficit rises to Rs 6.06 lakh crore
This takes the fiscal deficit for the first four months of the current fiscal to 33.9 per cent of the full-year target of Rs 17.87 lakh crore.
Nifty closes lower with a loss of 2% for the month of Aug
Broader market outperformed with the Nifty midcap 100 and Nifty Smallcap 100 up more than 3-4 per cent each for the month of August, he said.
Combined index of 8 core industries increases by 8% in July 2023
The production of coal, steel, natural gas, cement, electricity, refinery products, fertilisers and crude oil increased in July 2023 over the corresponding month of last year.
India's GDP growth stands at 7.8% for first quarter of 2023-24, lesser than RBI's estimate of 8%
However compared to 6.1 per cent growth recorded in January-March period of 2022-23, the GDP growth for the first quarter of 2023-24 was higher at 7.8 per cent.
New Indo-US task force aims $100 bn electronics trade between 2 nations
The India Cellular and Electronics Association (ICEA) organised the launch meeting here, attended by senior officials from Department of Telecommunications (DoT), US Embassy, leading US and Indian companies, investment banking fraternity, and Washington D.C.-headquartered Information Technology Industry Council (ITI).
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