Asit Ranjan Mishra

All stories by Asit Ranjan Mishra

Budget may go vocal for higher local procurement

Budget may go vocal for higher local procurement

Rediff.com7 hours ago

To boost domestic manufacturing under the Make in India initiative and reduce dependency on imports, the government is expected to announce in the Budget an increase in the minimum local content requirement for public procurement, with certain sectors being granted exceptions. Currently, firms producing goods, services, or works with at least 50 per cent local content are classified as Class-I local suppliers and are preferred the most in government procurement.

Modi To Finalise 100-Day Agenda After Budget

Modi To Finalise 100-Day Agenda After Budget

Rediff.com7 days ago

A lot of the 100-day programmes would be 'milestone-based' with timelines for achieving targets for social-sector schemes.

Nirmalaji Eyes Higher GDP Growth Target

Nirmalaji Eyes Higher GDP Growth Target

Rediff.com3 Jul 2024

'The nominal GDP growth assumption for FY25 may be revised upwards on higher growth expectations.'

CAD may dip in Q4 as net exports hit 11-quarter high

CAD may dip in Q4 as net exports hit 11-quarter high

Rediff.com10 Jun 2024

India's current account deficit (CAD) may dip further in the March quarter of FY24 as pressure from the negative net exports during the January-March period eased to an 11-quarter high. A part of the gross domestic product (GDP) data, net export- which is usually negative for India - captures the difference between exports and imports of both goods and services, while the CAD data, released by the Reserve Bank of India (RBI), also factors in private transfer receipts.

Smartphones, India's 4th Largest Exports!

Smartphones, India's 4th Largest Exports!

Rediff.com23 May 2024

Smartphones have been a key success story of the government's production-linked incentive scheme, helping India become the second-largest mobile phone manufacturing country, after China.

Paytm app may lose access to digital wallet facility

Paytm app may lose access to digital wallet facility

Rediff.com19 Feb 2024

The Paytm application (app) could potentially face a permanent loss of its integrated mobile wallet feature, currently owned by Paytm Payments Bank (Paytm PB). With the recent crackdown on Paytm PB, sources say getting a fresh wallet licence may get tough for the group. "The Paytm app (One97 Communications) has to apply afresh to the RBI for a licence to operate a prepaid payment instrument (PPI) like a mobile wallet within the Paytm app, as PPI is a regulated entity.

Central Govt Jobs To Shrink By 50k

Central Govt Jobs To Shrink By 50k

Rediff.com12 Feb 2024

The 1.4% decline projected for 2025 is driven by a 5.6% (72,000) dip in the strength of railway employees to 1.2 million by next year.

With online monitoring system going live, PC imports turn a trickle in Nov

With online monitoring system going live, PC imports turn a trickle in Nov

Rediff.com27 Jan 2024

After the government's online monitoring system for the import of electronic hardware items went live on November 1, inbound shipments of laptops and tablets slipped in November to a nine-month low at $225 million, contracting 17.15 per cent year-on-year. This decline was primarily driven by reduced imports from Singapore (down 43.7 per cent), Hong Kong (down 27.4 per cent), and China (down 14 per cent), according to the data released by the commerce department. China accounts for approximately 83 per cent of such imports.

Govt may opt for longer-term G-sec in FY25

Govt may opt for longer-term G-sec in FY25

Rediff.com24 Jan 2024

With India's inclusion in global bond indices starting next financial year, the central government believes there will be greater scope for shifting to borrowings via long-term government securities (G-sec) from short-term instruments. This change may be factored into the FY25 interim Budget. "While this has been our focus, the inclusion of India in global bond indices gives us the opportunity to accelerate the shift towards longer tenure G-secs," an official said, requesting anonymity.

Budget likely to assume peak crude oil price at $85 per barrel

Budget likely to assume peak crude oil price at $85 per barrel

Rediff.com19 Jan 2024

The ministry of finance is likely to assume crude oil price to remain within $85 per barrel while estimating subsidies for the Interim Budget 2024-25 (FY25), to be presented on February 1. Brent crude prices moved up on Thursday, ending at $78.9 per barrel. Crude oil and cooking gas prices, which move in tandem, impact fertiliser and cooking gas subsidies, constituting 53 per cent of the government's total subsidies.

India Doesn't Want Pakistan In BRICS

India Doesn't Want Pakistan In BRICS

Rediff.com11 Jan 2024

'Victims of terrorism do not sit together with its perpetrators to discuss terrorism.'

Budget likely to set nominal GDP growth at 10.5%

Budget likely to set nominal GDP growth at 10.5%

Rediff.com8 Jan 2024

The Interim Budget for 2024-25 (FY25) to be presented on February 1 is likely to assume 10-10.5 per cent nominal gross domestic product (GDP) growth against 8.9 per cent estimated for FY24 by the National Statistical Office (NSO). "We were waiting for the First Advance Estimates GDP numbers for FY24. "We will finalise the nominal GDP growth assumption for FY25 Interim Budget in a couple of days.

IMF cautions India on govt debt vulnerabilities, Centre disagrees

IMF cautions India on govt debt vulnerabilities, Centre disagrees

Rediff.com27 Dec 2023

The International Monetary Fund (IMF) warned on Tuesday that India's general government debt (comprising both central and state government debt) could exceed 100 per cent of gross domestic product (GDP) in the medium term. It also cautioned that long-term debt sustainability risks are high due to the significant investment required to meet India's climate change mitigation targets. The Indian government, however, disagreed, arguing that risks from sovereign debt are extremely limited as it is predominantly denominated in domestic currency.

India Tops On Crypto Adoption

India Tops On Crypto Adoption

Rediff.com23 Dec 2023

'India's emergence as a top crypto market comes despite a regulatory and tax environment that can be challenging for the industry to navigate.'

Nirmalji Goes Cautious On Fiscal Deficit Target

Nirmalji Goes Cautious On Fiscal Deficit Target

Rediff.com15 Dec 2023

But the government will present a second tranche of Supplementary Demands for Grants during the Budget session of Parliament in February, when it can seek additional spending.

Laptop, tablet imports surge 42% amid licensing fears

Laptop, tablet imports surge 42% amid licensing fears

Rediff.com27 Nov 2023

India's import of personal computers, including laptops and tablets, shot up in September by 42 per cent to $715 million, reversing a year-long downward trend after the government announced it would impose import restrictions on such electronic hardware items in August. The rise in such imports were led by the largest source China (33 per cent) and Singapore (188 per cent), according to data released by the commerce department. On August 3, the Centre had announced it was planning to bring seven products in the information technology hardware segment, such as personal computers, micro computers, mainframe computers, super computers, computer systems and data processing units under the 'restricted' label.

No Major Cash Outflows In Winter Session

No Major Cash Outflows In Winter Session

Rediff.com23 Nov 2023

The government has exhausted only 39 per cent of its fiscal deficit target in the first half of FY24.

Poverty in India eased in '21, but was above '18 level: World Bank data

Poverty in India eased in '21, but was above '18 level: World Bank data

Rediff.com19 Oct 2023

Extreme poverty in India declined by 38 million in 2021 to 167.49 million after a surge in the two preceding years, but remained above the 2018 level, the latest World Bank data shows. While for most countries poverty rose in 2020, when the Covid-19 pandemic hit the global economy, the data shows poverty shot up in India a year earlier in 2019 to 176.09 million from 151.79 million in 2018, the lowest pre-pandemic count. India's poverty rate at 11.9 per cent in 2021 also remained higher than the 2018 level of 11.09 per cent, though easing from 14.72 per cent in 2020.

'Hard To Ignore India As Investment Opportunity'

'Hard To Ignore India As Investment Opportunity'

Rediff.com29 Sep 2023

'The assessment of most people is that there is a stable economic and political environment in India and that is attractive to investors.'

'FICCI is focusing on start-ups'

'FICCI is focusing on start-ups'

Rediff.com19 May 2023

'For our traditional membership base, it would be an access to disruptive ideas,' FICCI President Subhrakant Panda tells Asit Mishra/Business Standard.

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