Indian Economy-News & Updates

[Nova2]

39.5Billion dollars last year.This year the target is set at 24% growth but so far achieved in the first 4 months is 19.5%

So revenue collection stands at ~17% of pakistan's GDP.Has FBR/FMoP come up with some reforms to increase the tax revenue? Because 24% seems to high i guess,this year GoI expects 19% increase in tax revenue.

 

[farhan_9909]

So revenue collection stands at ~17% of pakistan's GDP.Has FBR/FMoP come up with some reforms to increase the tax revenue? Because 24% seems to high i guess,this year GoP expects 19% increase in tax revenue.

No,i believe it is much less than 17%

First quarter: FBR misses tax collection target by Rs22b – The Express Tribune

The annual revenue target of Rs2.81 trillion requires 24% growth over last fiscal year’s collection of Rs2.266 trillion.

The goal had been set under pressure from the International Monetary Fund (IMF), though FBR Chairman Tariq Bajwa suggested restricting the figure to Rs2.71 trillion.

 

[Nova2]

It is 16.9% to be precise with Pakistan's gdp in 2013 at $232bill.
Report for Selected Countries and Subjects
Does the target set by IMF looks achievable? or would they be missing it this year aswell?

No,i believe it is much less than 17%

First quarter: FBR misses tax collection target by Rs22b – The Express Tribune

The annual revenue target of Rs2.81 trillion requires 24% growth over last fiscal year’s collection of Rs2.266 trillion.

The goal had been set under pressure from the International Monetary Fund (IMF), though FBR Chairman Tariq Bajwa suggested restricting the figure to Rs2.71 trillion.

 

[farhan_9909]

It is 16.9% to be precise with Pakistan's gdp in 2013 at $232bill.
Report for Selected Countries and Subjects
Does the target set by IMF looks achievable? or would they be missing it this year aswell?

Change is base year is expect next year,so the overall GDP will change including those of last several years.

anyway 16.9% is not this bad,i thought it is around 10%

 

[Nova2]

Change is base year is expect next year,so the overall GDP will change including those of last several years.

That would be intresting to see how big/small the change is,btw which basis year Pakistan has been following?

anyway 16.9% is not this bad,i thought it is around 10%

It would come down after change in basis year,which you say is expected to happen next year. For India it is around 10%.

 

[IndoCarib]

India's October infrastructure output growth accelerates to 6.3 pct y/y - govt| Reuters

 

[cloud_9]

https://twitter.com/x/status/539297482379767808

https://twitter.com/x/status/539383101252575232

 

[cloud_9]

https://twitter.com/x/status/539363442461659136

 

[IndoCarib]

India Will Be the World's Second Biggest Smartphone Market

India services PMI jumps to 5 month-high in Nov: HSBC - The Economic Times

NEW DELHI: Services sector activity in India accelerated at the fastest pace in
five months in November, driven by faster growth in new business orders, a HSBC survey said today.

 

[fsayed]

Not all of the gasoline, even more tax

• 790156.html

Not surprised to read? But it is true. The money is made in the refinery gasoline in the country's government, nearly as much as you have to pay tax etc..
According to the site of Indian Oil Corporation refinery transfer price of petrol is Rs 34.56. It is 87.21 per barrel and the dollar is worth 61.80. It then Rs 37.39 per liter of petrol dealers are. Then it is put 13.34 per liter excise duty and education cess Spesfik too. Then the dealer's commission is 2.04 per liter. VAT on petrol in Delhi is Rs 20 per cent of the total 10.55. It then petrol at Rs 63.33 per liter in Delhi you get.

VAT in neighboring Uttar Pradesh to be more in there than it is Rs 70 per liter. Well for your information and tell the most expensive gasoline in the country at Rs 70.58 per liter in Patna, where it meets the price. This is followed by the Lucknow where it sells 70.44 per liter. Rs 70.05 per liter in Jalandhar. Goa is the cheapest gasoline in the country at the moment to get a sense of where it is 54.25 per liter. Port Blair is the number where it then sells to 56.48 per liter.



और भी... petrol prices have more tax component in it: ख़बरें: आज तक

 

[Juggernautjatt]

Sahara group sells Gurgaon land to M3M India for Rs 1,211 cr to secure release of Subrata Roy
New Delhi: As it tries to raise funds for securing release of chief Subrata Roy from Tihar jail, Sahara group sold a big land parcel of 185 acres in Gurgaon near here for Rs 1,211 crore to realty firm M3M India Ltd.
The group is also believed to have clinched deals for sale of two more land parcels (one in Vasai, Mumbai and another in Jodhpur, Rajasthan) for over Rs 1,250 crore, while talks are in the final stages for sale of a Pune land tract.
An official announcement is yet to be made for these two deals. Announcing the Gurgaon deal, probably the biggest land transaction so far in 2014, M3M India said the 185 acres of land it bought would be used for 'mixed-use development' and has sales revenue potential of Rs 12,000 crore over the next 6-8 years. M3M India Director Pankaj Bansal said it is not a "distress sale" by Sahara.
He further said that the deal, subject to the Supreme Court's approval, was clinched two months ago as per the prevailing market price after M3M India was approached by Sahara group.
The entire amount of Rs 1,211 crore will be paid in installments over a period of six months, while post-dated cheques have been given to Sahara group for purchase of this land, situated at Chauma village in Gurgaon.
The deal announcement comes within days of Supreme Court permitting the Sahara Group to proceed with the sale of four domestic properties, which is likely to fetch Rs 2,710 crore, in its bid to raise Rs 10,000 crore for Roy's release.
Besides this Chauma land, the court has allowed Sahara to sell properties in Jodhpur, Pune and Vasai. Sources said that the Vasai land is being sold for Rs 1,111 crore, while that in Jodhpur for another Rs 140 crore.
Sahara group sells Gurgaon land to M3M India for Rs 1,211 cr to secure release of Subrata Roy - ABP News

 

[fsayed]

India's manufacturing, services growth outpaced China in Nov: HSBC - Business Today
India's manufacturing, services growth outpaced China in Nov: HSBC
PTI New Delhi Last Updated: December 5, 2014 | 13:29 IST

(Photo: Reuters)
RELATED

• 
  China pips India to be top Asian mkt for FIIs: HSBC
• 
  India less vulnerable to global shocks than before: HSBC

MORE FROM THE AUTHOR

• 
  Ericsson bags contract to manage RCom's pan-India network
• 
  MCFL shares surge over 15% on Zuari open offer

Manufacturing and services sectors in India expanded at a faster pace than China in November, even as emerging market output slipped for the second consecutive month to a six-month low.

The HSBC Emerging Markets Index (EMI), a monthly indicator derived from PMI surveys, slipped for the second month running to 51.2, signalling the weakest rate of expansion since May.




The EMI remained well below its long-run trend level of 53.7 as both manufacturers and service providers in emerging markets registered slower and identical rates of output expansion in November, HSBC said on Friday.

"2014 looks set to record the lowest annual average for the Index since its inception in November 2005," the HSBC report added.

Data for the four largest emerging economies showed contrasting activity trends in November.

China registered growth for the seventh month running whileIndia posted the fastest growth since June. Russia and Brazil, however, registered sharper rates of decline during November.

During November, the HSBC composite index for India, that maps both manufacturing and services, stood at 53.6, whereas for China it was 51.1, Brazil (48.1) and Russia (47.6).

An index measure of above 50 indicates expansion.

"Downturn in Russia and Brazil are intensifying to worrying extents, and China's economic growth rate continues to slow. Only India saw an improvement in November," Markit Chief Economist Chris Williamson said.

Meanwhile, the outlook for global emerging markets also deteriorated during November.

The HSBC Emerging Markets Future Output Index, which tracks firms' expectations for activity in 12 months' time, fell to a new record-low. All four of the largest emerging economies posted weaker sentiment for next 12 months, most notably Russia and Brazil, while China posted the lowest output expectations.

 

[IndoCarib]

Apple To Open 500 Stores In India

Apple has historically not bothered too much with India – Their iPhone and iPad launches in India have generally happened months or even a year after the actual launch in US. Many people believed India was the “dumping ground” for Apple. And, it was probably true to a certain extent.

In defense of Apple, they never saw the kind of numbers from India that would really encourage them to give India some priority.

But the fast changing smartphone market scenario in India seems to have changed Apple’s outlook of India. Apple is planning on huge push for their devices now in India– they are planning to open 500 iOS stores across length and breadth of India. And the stores are going to come up not only in big cities, but in smaller cities and towns as well. Currently Apple stores are located only in big cities like Delhi, Mumbai, Bangalore, Kolkata and Chennai.

 

[Juggernautjatt]

Make in India: Quality standards likely for auto, food processing, gadgets, textile products

NEW DELHI: The government plans to introduce quality standards for automobile, food processing, electrical machinery, garments and textiles products among others as part of a drive to make the country a manufacturing hub for quality products.
The idea is to specify quality standards for 10 products each in the 25 focus sectors under the Narendra Modi government's 'Make in India' initiative, a senior government official said.
"Appropriate standards are needed if the country has to emerge as a destination for quality manufacturing," the person said. Once the 250 products are identified based on the country's competitiveness, the Bureau of Indian Standards (BIS) will develop or update standards in line with prevalent international benchmarks, the official said.
Whether to make the standards mandatory or voluntary will be decided after detailed examination, the person said. Departments of consumer affairs and industrial policy and promotion have initiated discussions on the move based on the prime minister's call for 'zero defect and zero effect' manufacturing in the country to produce quality products without any adverse impact on the environment. In his Independence Day speech, Modi had said, "Don't compromise on two points — first zero defect and second zero effect.... Let's think about making our product which has 'zero defect' so that it does not come back (get rejected) from the world market and 'zero effect' so that the manufacturing does not have an adverse effect on our environment."
The department of industrial policy and promotion ( DIPP) had subsequently launched the 'Make in India' campaign on September 25.
The official quoted earlier said the consumer affairs department will draw up a roadmap for development and implementation of the standards in consultation with the stakeholder ministries and departments,
and technical committees under BIS will be formulated to work out the details."Timelines would be drawn up to ensure that work progresses in an effective manner," the person said.The Modi government has identified consumer protection as a focus area and is proposing to strengthen the regulatory regime. Far-reaching amendments to strengthen the Bureau of Indian Standards Act and overhaul Consumer Protection Act are on the agenda.

Make in India: Quality standards likely for auto, food processing, gadgets, textile products - The Economic Times

 

[luckych]

Japan eyes big in Sri City - The Hindu

In fact, as many as 15 companies from Japan such as Isuzu Motors, Kobelco Construction Equipment, Kobelco Plate Processing, IMOP, TIL Healthcare, Piolax, Aisan, Nippon Seiki, NHK, Kusakabe, Nittan Valves, Unicharm and among others have already made Sri City their Indian home.

Sri City signs agreement with Nikkan Kogyo - The Times of India

Welspun India lines up Rs 2,500 crore expansion plan - The Economic Times

Mercedes-Benz Research and Development India has leased the space for 5 years with an option to extend it by another 5, the developer said.

Mercedes-Benz inks office space lease deal in city - The Economic Times