Economy - The Purbottar

21 Jan

The World Economic Forum has started its annual meeting in Davos, Switzerland

Deep EditorEconomy

The World Economic Forum (WEF) commenced its annual meeting in Davos, Switzerland, bringing together global leaders to discuss pressing economic challenges. Key topics include inflation, supply chain disruptions, and sustainable development. Notable sessions feature discussions on digital transformation and climate change mitigation strategies. The forum serves as a platform for policymakers and business leaders to collaborate on solutions to foster global economic stability and growth.

20 Jan

Bhutan’s GMC plan will promote “mindful capitalism”

Deep EditorEconomy

Bhutan has announced plans for the Gelephu Mindfulness City (GMC), a $100 billion initiative aimed at addressing economic challenges such as youth unemployment and brain drain. Spanning an area three times the size of Singapore, GMC will promote "mindful capitalism," integrating ecological harmony and spiritual well-being with economic development. Former Prime Minister Dr. Lotay Tshering, now GMC's governor, emphasized the project's potential to attract foreign companies committed to sustainability. Despite its ambitious vision, the project faces financial and political challenges, including potential influences from neighboring India and China.

08 Aug

Both Sensex and Nifty are in the red today

Banasree SarkarEconomysensex

The Reserve Bank's monetary policy meeting concluded today. And in this monetary policy meeting, the repo rate was already being discussed. But to everyone's disappointment, there was no change in the repo rate even in the ninth monetary policy meeting (Stock Market Today). And under its influence, the stock market (Sensex Today) fell by 250 points when it opened this morning. Sensex and Nifty both indices (stock market crash) are in red today. Investors were hoping for a change in interest rates, but the market is not supporting it. However, the pharma index rose 1 percent in the market today.…

24 Jul

Jitendra Chaudhury calls Union Budget ‘Anti-Poor, Pro-Corporate

Priyanka BhowmickEconomy, Education

Tripura's Leader of Opposition, Jitendra Chaudhury, has criticized the Union Budget for 2024-25, labeling it as pro-corporate and alleging that it primarily benefits large businesses. Chaudhury, who is also a CPIM MLA, expressed disappointment with the budget's focus, asserting that it does little to address pressing issues such as job creation and rural inequalities. “While I haven’t had the chance to review the budget in detail, initial reports and Finance Minister Nirmala Sitharaman's speeches indicate that there are no significant changes from previous budgets,” Chaudhury said. He highlighted that the budget lacks specific measures for job creation or solutions for…

06 Jul

States/UTs in India having the highest GDP per capita

Ashish MajumderEconomy

Actually GDP per capita of a country is calculated by dividing total GDP of the country by its total population. Right now India’s GDP per capita is $2,677. In fact among states/UTs, Sikkim has the highest GDP per capita at $8,691. Actually it is followed by Goa ($8,370), Delhi ($6,690), Chandigarh ($5,905), Telangana ($4,745), Karnataka ($4,637) and Haryana ($4,581). This is actually good news as India is becoming very strong economy and giving people very good life. Actually India is very big economy and people all over the world know how much powerful India is. If you see today India…

21 May

Spices Board inspecting MDH, Everest plants; Efforts underway to growth compliance

Priyanka RoyBusiness, Economy, News

Data shared by the Ministry of Commerce and Industry on Monday showed that the maximum residue level (MRL) for EtO in Singapore was 50 mg/kg, while in the EU it was 0.02 to 0.01 mg/kg and in Japan it was 0.01.The Spices Board of India is carrying out inspections at several MDH and Everest processing plants in the country to ensure that spice exports meet the requirements of the respective export destination, senior government officials said on Monday, adding that they have also suggested corrective action such as the use of steam sterilization, Also added actions. The focus is on…

10 May

Bank of Baroda’s Q4 profit up marginally to Rs 4,886 Crore

Priyanka RoyBusiness, Economy, News

On Friday State-owned Bank of Baroda reported: a marginal 2.3% grow in net profit to Rs 4,886 Crore for the Q4 ending March 2024.A year before, the bank had earned a net profit of Rs 4,775 Crore in the January-March quarter. Total income during the quarter under review increased to Rs 33,775 Crore from Rs 29,323 Crore in the same period last year, BoB said in a regulatory filing.Interest income increase to Rs 29,583 Crore during the latest 3 month period from Rs 25,857 Crore in the same quarter a year ago.In terms of asset quality, the bank's gross non-performing…

09 May

Tata Power Q4 report: Net profit gain 11% to Rs 1,046 Crore due to higher profits

Priyanka RoyBusiness, Economy

New Delhi: Tata Power on Wednesday reported 11% rise in its consolidated net profit in the March quarter to Rs 1,046 Crore compared to last year mainly due to higher profits. BSE filings showed consolidated profit stood at Rs 939 Crore for the quarter ending March 31, 2023. The company's total income in the quarter increased to Rs 16.464 Crore from Rs 13,325 Crore in the year-ago period. Consolidated net profit in fiscal 2023-24 rose to record Rs 4,280 Crore from Rs 3,810 Crore in the year-ago period, the company said in a statement. Total income will increase from Rs…

04 May

NSE Q4 results: Profit upsurge 20% to Rs 2,488 Crore

Priyanka Roy0 CommentsBusiness, Economy

The National Stock Exchange (NSE) on Friday reported a 20% year-on-year rise in consolidated net profit at Rs 2,488 Crore for the three months ending March 2024. NSE said in a statement that consolidated operating revenue in the January-March quarter of financial year 2023-24 stood at Rs 4,625 Crore, showing a growth of 34% year-on-year. Apart from trading, the exchange said the total profit was also supported by other revenue lines as well as listing, index services, data services and co-location facility. The NSE board has optional a dividend of Rs 90 per share (pre-bonus) for the financial year ending…

03 May

OECD revises India’s FY2015 progress forecast to 6.6%

Priyanka Roy0 CommentsBusiness, Economy, India, News

The Organization for Economic Co-operation and Development on Thursday raised India's FY2025 growth forecast to 6.6% from an earlier estimate of 6.2%. "Despite relatively sluggish private consumption growth, strong investment and improving business confidence in India are projected to propel real GDP growth to more than six and a half per cent in both FYs 2025 and 26," the OECD (Organization for Economic Co-operation and Development) said.