Bharat Rakshak

TEPA provides an opportunity to integrate into EU markets. Over 40% of Switzerland’s global services exports are to the EU. Indian companies can look to Switzerland as a base for extending its market reach to EU.

A_Gupta wrote: ↑14 Mar 2024 18:36 All the major states but Bihar show healthy year over year increases in GST collection for February.
Bihar shows a 1% drop.
https://pib.gov.in/PressReleasePage.asp ... 0in%202023.

Manipur, Mizoram and Jharkhand also.

Any thoughts?

The Finance Minister of Bihar, Mr Samrat Chaudhary, presented the Budget for the state for the financial year 2024-25 on February 13, 2024.

Budget Highlights

The Gross State Domestic Product (GSDP) of Bihar for 2024-25 (at current prices) is projected to be Rs 9.76 lakh crore, amounting to growth of 13.5% over the previous year.

Expenditure (excluding debt repayment) in 2024-25 is estimated to be Rs 2,56,333 crore, a decrease of 12% over the revised estimates of 2023-24. In addition, debt of Rs 22,393 crore will be repaid by the state. In 2023-24, expenditure (excluding debt repayment) is estimated to be 22% higher than the budget estimate.

Receipts (excluding borrowings) for 2024-25 are estimated to be Rs 2,27,238 crore, an increase of 5.7% over the revised estimates of 2023-24. In 2023-24, receipts (excluding borrowings) are estimated to be 1% higher than the budget estimates.

Revenue surplus in 2024-25 is estimated to be Rs 1,121 crore (0.1% of GSDP). As per the revised estimates, the state is expected to observe a revenue deficit of Rs 35,530 crore in 2023-24 (4.1% of GSDP). In 2023-24, revenue surplus of Rs 4,479 crore was estimated at the budget stage (0.5% of GSDP).

Fiscal deficit for 2024-25 is targeted at 3% of GSDP (Rs 29,095 crore). In 2023-24, as per the revised estimates, fiscal deficit is expected to be 8.9% of GSDP, significantly higher than budgeted (3% of GSDP).

NEW DELHI: Despite the Government’s thrust on capex, the private sector is not very enthusiastic about capacity expansion in the country. Many factors, particularly global uncertainties, are the main reasons behind the lackluster growth in private investment.

A_Gupta wrote: ↑18 Mar 2024 04:19 https://www.newindianexpress.com/busine ... ent-puzzle

India’s private investment puzzle
According to the government data, private investment at both the current and constant prices was 27% of the gross domestic product (GDP).

NEW DELHI: Despite the Government’s thrust on capex, the private sector is not very enthusiastic about capacity expansion in the country. Many factors, particularly global uncertainties, are the main reasons behind the lackluster growth in private investment.

IMO and I am not an economist: India should keep a balance between consumption-led growth and investment-led growth, and not be like China.

A_Gupta wrote: ↑18 Mar 2024 04:19 https://www.newindianexpress.com/busine ... ent-puzzle

India’s private investment puzzle
According to the government data, private investment at both the current and constant prices was 27% of the gross domestic product (GDP).

NEW DELHI: Despite the Government’s thrust on capex, the private sector is not very enthusiastic about capacity expansion in the country. Many factors, particularly global uncertainties, are the main reasons behind the lackluster growth in private investment.

IMO and I am not an economist: India should keep a balance between consumption-led growth and investment-led growth, and not be like China.

bala wrote: ↑19 Mar 2024 04:18 The Indian economy requires a different way of thinking, not just about manufacturing items which are mostly designed elsewhere and cater to foreign markets but a rethink of almost everything. .
.
.
India has a chance to rethink pretty much everything. Solutions for Indian market can quickly translate to other nations like Africa for market share. Everyone wants something more appropriate for the task at hand. India also can take the entire import list and for each final year graduating batch of engineers as a project can work on how to make similar things from 1st principle. Once they have the prototype, maybe they form their own company and spring boot themselves. The mantra is: Don't need to be 2nd fiddle to these foreign companies anymore, you own the product and the market share. That is the only way to generate wealth and leap frog over others.

Deans wrote: ↑18 Mar 2024 11:27 Not sure if this is the right forum:
I have a blog where I post on Indian national security, geopolitics and Indian startups. It is for the latter (startups) that I am posting here.
I post free original data based content on the nature of Indian startups, that is not covered in the MSM and might be useful to members here.
https://rpdeans.blogspot.com/

Cyrano wrote: ↑20 Mar 2024 14:15 ^^^Page not found!

India’s economic activity increased in March, boosted by gains in the manufacturing sector, a flash survey by HSBC Holdings Plc showed.

The manufacturing purchasing managers index rose to a 16-year high of 59.2 from 56.9 in February. That helped to boost the composite index to 61.3 this month. The services purchasing managers’ index eased marginally to 60.3 from 60.6 in February.

MUMBAI: The country's economic growth in the March quarter is likely to be 8% or more, finance minister Nirmala Sitharaman has said. "If this is how inflation management is happening, macroeconomic stability being what it is, you had three-quarters of growth above 8%, and hopefully, the fourth quarter, which ends tomorrow, will also be 8% or over 8%, resulting in 2023-24 having a GDP growth of 8% or over 8%," FM said at an event organised by Mint Saturday.
GDP growth in the Oct-Dec quarter was a scorching 8.4% led by robust manufacturing sector expansion. Data for the March-quarter GDP will be released on May 31.
"Three-quarters of growth over 8% is good news, and I thank the people of India for being very energetic and ensuring that India remains the fastest-growing economy," said Sitharaman.


She said the commentary on consumption was because of a sequential comparison of consumption numbers. "Do you think we would have had 8% growth without consumption?" she asked.
The minister said that the recent spike in income tax notices was because of a new rule driving the tax department to send notices out before they became time-barred and because of digitisation. "Every time through the year, notices are sent so that the assessment does not get time-barred before the six-year limitation sets in on March 31. So, they are rushing a lot of these notices to say, 'Hey, I have asked you a question; reply, and we will take it up further.' It is not harassment; it is because of compliance requirements for the board to ensure that getting information does not get time barred."


Sitharaman said that some old records, which are still in manual form, are now being digitised. "If a notice comes to you saying, 'We do not have this information about you, can you fill it in?', it is more because of the gap in data resulting from the transition from manual to digital," the FM said.

New Delhi: With the stellar performance in production as well as new orders since October 2020, India's manufacturing activity continued to expand in March 2024 as the HSBC Purchasing Managers’ Index or PMI climbed to a 16-year high of 59.1 in the same month from 56.9 in the month of February this year, reflecting stronger growth of renewed job creation in the country, a private monthly survey showed on Tuesday.

Deccan Chronicle

Diva Jain
@DivaJain2

Indian firms will be buying $100 bn of chips a year and 70% of Tata's Assam factory capacity has already been contracted out. N Chandrasekaran has done something that Rajan will never do - put skin in the game.