Manas ChakravartyMarkets across the world have suddenly been spooked by fears of a growth slowdown. Here’s what the Reserve Bank of India said in its monetary policy statement a few days ago: "…global economic activity has shown increasing signs of weakness on rising trade tensions. Among advanced economies, economic activity appears to be slowing in the US in Q42018, after a buoyant Q3. The Euro area growth lost pace in Q3, impacted by weaker trade growth and new vehicle emission standards. The Japanese economy contracted in Q3 on subdued external and domestic demand."The RBI said growth was also slowing in some emerging markets, most importantly China. For India too, there have been warnings of lower growth after the September quarter gross domestic product growth came in lower than anticipated. Fitch Ratings has been the latest to jump aboard the bandwagon, reducing its estimate of India's GDP growth this fiscal from 7.8 percent earlier to 7.2 percent.Close … [Read more...] about Quick Take | Does the market really have a reason to worry about lower global growth?
Finance Minister Nirmala Sitharaman on December 7 said that a tax rate cut proposal is “one among the many things we are thinking to boost growth.”Sitharaman made the statement at the Hindustan Times Leadership Summit, where she addressed a gamut of issues.The Finance Minister added that they would listen to learned economists who “are telling us that we have to move towards more fiscal stimulus.”Close In what would be good news for the common man, she further spoke about simplifying the tax regime and making it harassment-free. related news Moneycontrol Pro Weekender: The curious incident of the MPC in the slowdown Unnao case: Want to see accused shot dead or hanged, says victim's father Bank of Japan to consider offering bleaker view on output as trade war bites: Sources “We have commenced tax enquiries through the 'faceless' method and are moving towards harassment-free tax assessment – a simplified and exemption-free tax … [Read more...] about Tax cuts under consideration, focus on boosting growth, says Nirmala Sitharaman
Diversified agro-business company Godrej Agrovet Ltd on December 6 said it is optimistic of achieving at least 14 to 15 per cent growth in its revenue during the current fiscal, amid economic slowdown in the country.The company is also expecting to record 17 to 18 per cent growth in its net profit during the fiscal 2019-20, an official said."Last fiscal, we had grown by about 10 per cent to Rs 5,900 crore. We are aiming at Rs 7,000 crore topline but optimistic of achieving at least 14-15 per cent growth in revenue in the current financial year," Godrej Agrovet managing director B S Yadav said here.Close He said revenue growth is expected due to price hike of our products as input costs have increased and better performance of some verticals. related news UTI AMC-PSUs-SEBI Saga: Is it a special case treatment of SEBI relenting with extension for stakeholders SBI, LIC and BoB? This week in Auto: Carmakers keep December unusually hot; Bajaj launches Husqvarna in India … [Read more...] about Godrej Agrovet hopeful of achieving 14-15% revenue growth in FY20
At first glance, India’s merchandise exports did miserably in November 2018, growing just 0.8 percent from a year ago. What’s more, it’s a huge fall from the October growth rate of 17.9 percent.If you look at the actual figures, however, exports were $26.5 billion in November 2018, a tad below the $26.98 billion notched up in October. The big difference in year-on-year growth rates is an optical illusion, the result of the base effect.That said, merchandise exports amounted to $26.5 billion in November 2014, four years ago, the same level as now. That’s how dismal our export performance has been.Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can … [Read more...] about 100-Word Take | November exports were at the same level as four years ago
Lakshmi IyerThe Monetary Policy Committee (MPC) on December 5 voted to keep the policy repo rate, under the liquidity adjustment facility (LAF), unchanged at 5.15 percent even while maintaining the accommodative stance.This is in contrast to the market and our expectations of a 15-25 bps cut in rates. As per the policy statement, the decision is in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 percent within a band of +/- 2 percent. All the members of the MPC voted in favour of keeping rates unchanged.Close It was natural for bond yields to spike by 10-15 bps across the curve, as rate cut was almost priced into bond yields. 10-year benchmark government bond yield is at 6.60 percent (up from 6.45 percent levels pre-policy)Lakshmi IyerCIO (Debt) & Head – Products|Kotak Mutual Fund 'Bond market will cheer RBI decision if tone remains accommodative’Shaktikanta Das does a Hrithik, delivers a blockbuster … [Read more...] about ‘Rate cut unlikely in Feb MPC meet; key risk factor continues to be potential overshoot on fiscal side’