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Indian stock market opens higher over strong GDP growth data

Indian stock market opens higher over strong GDP growth data

The Indian benchmark indices opened higher on Monday as key economic indicators, including GDP growth and strong GST collections, were in line with the expectations. Buying was seen in the auto and IT sectors in the early trade.

At around 9.39 am, Sensex was trading 133.58 points or 0.18 per cent up at 73,331.68 while the Nifty added 46.25 points or 0.21 per cent at 22,170.95.

Nifty Bank was up 35.50 points or 0.07 per cent at 48,380.20 The Nifty Midcap 100 index was trading at 47,947.55 after adding 32.35 points or 0.07 per cent. Nifty Smallcap 100 index was at 14,732.40 after gaining 32.20 points or 0.22 per cent.

According to experts, there is good news on India’s growth front.

Maha Kumbh 2025: A global benchmark in crowd management

Maha Kumbh 2025: A global benchmark in crowd management

Maha Kumbh, which was organised in Prayagraj, not only showcased the spiritual grandeur of Sanatan Dharma but also set a new benchmark in the field of crowd management. On average, 15 to 17.5 million devotees took a dip at the Sangam every day, and they returned to their destinations without any problems.

Managing such a massive number of people was a challenge, which was efficiently handled by the government and administration, presenting it as a model to the world.

Over the 45 days of this grand event, more than 660 million devotees participated. This number is nearly half of India's total population. In fact, during these 45 days, the Maha Kumbh Nagar became the third most populated area in the world, after India and China.

GST collections surge 9.1 pc YoY to Rs 1.84 lakh crore in Feb

GST collections surge 9.1 pc YoY to Rs 1.84 lakh crore in Feb

India’s Goods and Services Tax (GST) collections in February grew by 9.1 per cent (year-on-year), reaching approximately Rs 1.84 lakh crore, according to official data released on Saturday.

This marks the 12th consecutive month where GST revenues have exceeded Rs 1.7 lakh crore.

The increase in collections was driven by a 10.2 per cent rise in domestic GST revenues, which stood at Rs 1.42 lakh crore, and a 5.4 per cent growth in revenues from imports, totalling Rs 41,702 crore.

The data further revealed that revenue from Central GST amounted to Rs 35,204 crore, while State GST collections stood at Rs 43,704 crore.

The Integrated GST mop-up reached Rs 90,870 crore, and the compensation cess collected was Rs 13,868 crore.

India’s GDP growth estimated at 7.6 pc in Q4 FY25 amid resilient economy: SBI Research

India’s GDP growth estimated at 7.6 pc in Q4 FY25 amid resilient economy: SBI Research

Based on the fiscal 2025 GDP growth estimate of 6.5 per cent by the government, Q4 growth has been derived at 7.6 per cent, according to a SBI Research report on Saturday.

However, “we expect there will be revision of quarterly numbers in May 2025”, the report mentioned.

Also, real GDP growth rate of 9.2 per cent for 2023-24 is the highest in the previous 12 years, except FY22 growth (9.7 per cent, which is highest since independence), said the report.

India’s GDP remains resilient amid geopolitical challenges: Industry

India’s GDP remains resilient amid geopolitical challenges: Industry

Despite geopolitical headwinds, India's growth at 6.2 per cent in Q3 FY 2024-25 reflects its resilience and the effectiveness of policies, industry bodies and experts said on Friday.

The growth is largely driven by the strong performance of agriculture and allied sectors, which saw a growth rate of 5.6 per cent in Q3.

"This rebound is expected to boost farmers' income and further enhance agricultural productivity and rural growth," PHDCCI President Hemant Jain said.

The tertiary sector has emerged as a key growth engine, showing an impressive 7.4 per cent growth in Q3 FY25. Services such as trade, hotels, transport, communication, and broadcasting services have witnessed high growth of 6.7 per cent, said Jain.

30 lakh farmers come on board Centre's FPO scheme to boost earnings

30 lakh farmers come on board Centre's FPO scheme to boost earnings

The number of farmers on board the Centre’s scheme for the formation and promotion of Farmer Producer Organisations (FPOs) has touched the 30 lakh mark in the country, with around 40 per cent of them being women, according to a statement issued by the Ministry of Agriculture on Friday.

These FPOs are now conducting business worth thousands of crores in the agricultural sector, it said.

FPOs aim to increase farmers' income and provide small farmers with direct access to significant market benefits, bargaining power and improving market access.

Under this scheme, launched by Prime Minister Narendra Modi on February 29, 2020, there is a provision for handholding support for a period of five years to each new FPO that is formed, and financial assistance to the tune of Rs.18 lakh to each FPO for meeting management costs for 3 years.

Additionally, matching equity grants up to Rs. 2,000 per farmer member of FPO with a limit of Rs 15 lakh per FPO and a credit guarantee facility up to Rs 2 crore of project loan per FPO from eligible lending institutions to ensure institutional credit accessibility to FPOs is also extended under the scheme, the statement said.

India's GDP growth accelerates to 6.2 per cent in Q3, growth for 2024-25 seen at 6.5 per cent

India's GDP growth accelerates to 6.2 per cent in Q3, growth for 2024-25 seen at 6.5 per cent

India's GDP growth accelerated to 6.2 per cent in the third quarter (October-December) of 2024-25, up from a revised figure of 5.6 per cent in the second quarter of the financial year, on the back of stronger rural consumption following a good monsoon and increased government expenditure on infrastructure projects, data released by the Ministry of Statistics on Friday showed.

The GDP growth rate for the financial year 2024-25 is now estimated at 6.5 per cent while the economic growth rate for 2023-24 has been revised to a 12-year high of 8.2 per cent, according to the data released by the ministry.

The growth rate of Real GDP for Q2 of financial year 2024-25 has been revised upward to 5.6 per cent.

The construction sector is estimated to have posted a growth rate of 8.6 per cent, followed by the 'financial, real estate & professional services' sector at 7.2 per cent, and 'trade, hotels, transport, communication & services related to broadcasting' sector growing at 6.4 per cent during 2024-25.

EPFO retains interest rate on PF deposits at 8.25 per cent for 2024-25

EPFO retains interest rate on PF deposits at 8.25 per cent for 2024-25

Retirement fund body EPFO has decided to retain the interest rate on employees' provident fund deposits at 8.25 per cent for 2024-25 - the same as the previous year.

The decision was taken by the EPFO's Central Board of Trustees at a meeting held on Friday, according to reliable sources.

The Employees' Provident Fund Organisation had increased the interest rate on EPF for its 7 crore members to 8.25 per cent for 2023-24, from 8.15 per cent in 2022-23.

India needs to grow by 7.8 pc to reach high-income status by 2047, a possible target: World Bank

India needs to grow by 7.8 pc to reach high-income status by 2047, a possible target: World Bank

A new World Bank report on Friday said that India needs to grow by 7.8 per cent on average over the next 22 years to achieve the country’s aspirations of reaching high-income status by 2047 -- a target that is possible to achieve.

The new 'India Country Economic Memorandum' titled ‘Becoming a High-Income Economy in a Generation,’ finds that this target is possible.

Recognising India’s fast pace of growth averaging 6.3 per cent between 2000 and 2024, the WB report noted that India’s past achievements provide the foundation for its future ambitions. Getting there however would require reforms and their implementation to be as ambitious as the target itself.

“Lessons from countries like Chile, Korea and Poland show how they have successfully made the transition from middle- to high-income countries by deepening their integration into the global economy,” said Auguste Tano Kouame, World Bank Country Director.

Over 7 in 10 Indian professionals expect salary growth, 20 pc sees no change: Report

Over 7 in 10 Indian professionals expect salary growth, 20 pc sees no change: Report

More than seven in 10 (77 per cent) of professionals in India anticipate significant salary growth in their industry, while 20 per cent expect no change and only 3 per cent foresee a decline, a report showed on Thursday.

The job market highlights a significant divide in salary satisfaction, with a large portion of professionals feeling dissatisfied with their compensation growth, while professionals in select industries reporting higher contentment levels.

According to the survey by jobs platform foundit (formerly Monster APAC and ME), 47 per cent of professionals are not satisfied with their salary growth, citing low increments and unfulfilled expectations. Meanwhile, 25 per cent of respondents remain neutral -- while they acknowledge limited salary growth, they do not see it as a pressing concern.

Only 46 per cent of respondents believe their salary is above average, while 40 per cent feel it is below industry standards.

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