Indian Economy: News and Discussion

[Butter Chicken]

Magellan Aerospace Breaks Ground for New Manufacturing and Assembly Plant in India

Magellan Aerospace ("Magellan") hosted a traditional groundbreaking ceremony today for the company's new manufacturing and assembly facility in India. Magellan was honoured to have Canada's federal minister of International Trade, The Honourable François-Philippe Champagne participate in the event that was also attended by an esteemed group of customers, government officials and local business colleagues. The new 140,000 square foot building will be constructed on seven acres in Hitech Defence and Aerospace Park (Aerospace SEZ Sector) in Devanahalli, Bengaluru, near the BangaloreInternational Airport.

Already an established presence in India's aerospace sector for more than a decade, Magellan will invest more than CDN $28 millionin this state-of-the-art manufacturing and assembly plant. Construction of the plant will be in two phases with the first phase planned to become operational near the end of 2018. The plant will employ approximately 120 high technology and support positions, and will be equipped with a comprehensive range of high speed 4 and 5-axis machining centres, selected to optimise manufacturing efficiency.


This facility supports Magellan's major North American and European OEM customers' drive to grow the 'Make in India' content on their aircraft and demonstrates Magellan's on-going commitment to play a major role in developing the supply chain in India.

 

[Vishwarupa]

https://timesofindia.indiatimes.com...-tax-on-epf-interest/articleshow/61666067.cms

This was not required by government

 

[Prashant12]

Moody's lifts India's government bond rating to Baa2 from Baa3

NEW DELHI: Rating agency Moody's Investor Services said that it is lifting India's government bond rating to Baa2 from Baa3.

The rating agency upgraded the Government of India's local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive.

Moody's said the decision to upgrade the rating was underpinned by the expectation that continued progress on economic and institutional reforms will, over time, enhance India's high growth potential.

https://timesofindia.indiatimes.com...com&utm_medium=social&utm_campaign=TOIDesktop

 

[F-14B]

Moody's lifts India's government bond rating to Baa2 from Baa3

NEW DELHI: Rating agency Moody's Investor Services said that it is lifting India's government bond rating to Baa2 from Baa3.

The rating agency upgraded the Government of India's local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive.

Moody's said the decision to upgrade the rating was underpinned by the expectation that continued progress on economic and institutional reforms will, over time, enhance India's high growth potential.

https://timesofindia.indiatimes.com...com&utm_medium=social&utm_campaign=TOIDesktop

damm these bloody International shangis

 

[dumdumdum]

damm these bloody International shangis

The "Right Wing Chaddi Rating Agency" specifically sighted Demonitization, GST & Aadhar as reasons for upgrade. Interestingly last time they upgraded India's rating was when Vajpayee was PM

 

[prohumanity]

Because BJP govts have balls to carry out big time structural reforms in contrast to Congees and Pawars who remain busy accumulating looted money and laundering them with the help of likes of Hasan Ali Khans, Tapurias and so on.
On the other hands, commies and Mumta's want to keep people poor , angry and divided to maintain their vote banks.

 

[Prashant12]

Revenue collected under GST in Oct at Rs 95,000 crore: Sushil Modi


BENGALURU: The revenue collected under the Goods and Services Tax (GST) in October was Rs 95,131 crore and average revenue shortfall of states has come down to 17.6 per cent, Bihar deputy chief minister Sushil Modi said on Saturday.
The government had collected Rs 93,141 crore revenue under the GST in September.

Modi, who heads the Group of Ministers (GoM) on GST Network, said the average revenue shortfall of all states for August was 28.4 per cent and it has come down to 17.6 per cent in October.

"This is a good indication. It shows the system is slowly stabilising," he told reporters here after a meeting of the GoM.

In rupee terms, the revenue shortfall of all states has come down from Rs 12,208 crore in August to Rs 7,560 crore in October, he said.

https://timesofindia.indiatimes.com...00-crore-sushil-modi/articleshow/61704777.cms

 

[jadoogar]

Some one tell me how much tax should be collected by both state and central government to run the country without taking any debt.

A zero deficit budget (Central and State) would cause interest rates to collapse. Actually the two are interrelated - if interest rates are high then the Treasury must run a deficit, else there will be a great depression.

The above is a simplistic statement. Economic Growth rates, economic structure, population dynamics etc all play a role. However, some central government deficit is required for smooth functioning of the economy.

I believe that the target adopted by the EU member states and India (3%) is a good and reasonably sustainable compromise.

 

[tharun]

I believe that the target adopted by the EU member states and India (3%) is a good and reasonably sustainable compromise.

Every year taking that much of debt will increase the debt-gdp ratio that will put stress on the govt.
We don't want India to be greece.

 

[Prashant12]

Forex reserves rise by $ 240.4 millon to $ 399.53 billion


The foreign exchange reserves rose by $ 240.4 million to $ 399.533 billion in the week to November 17, helped by an increase in foreign currency assets, the weekly data from the Reserve Rank showed today.

In the previous week, the reserves had risen by $ 554.2 million to $ 399.293 billion.

The foreign currency assets, a major component of the overall reserves, increased by $ 220.4 million to $ 375.096 billion, the data showed.

Expressed in the US dollar terms, foreign currency assets include the effect of appreciation or depreciation of the non-US currencies such as the euro, the pound and the yen held in the reserves.

The gold reserves remained unchanged at $ 20.666 billion.

The special drawing rights with the International Monetary Fund rose by $ 7.9 million to $ 1.497 billion.

The country’s reserve position with the Fund increased by $ 12.1 million to $ 2.273 billion, the apex bank said.

http://www.thehindu.com/business/ma...4-millon-to-39953-billion/article20789123.ece

 

[AmoghaVarsha]

A zero deficit budget (Central and State) would cause interest rates to collapse. Actually the two are interrelated - if interest rates are high then the Treasury must run a deficit, else there will be a great depression.

The above is a simplistic statement. Economic Growth rates, economic structure, population dynamics etc all play a role. However, some central government deficit is required for smooth functioning of the economy.

I believe that the target adopted by the EU member states and India (3%) is a good and reasonably sustainable compromise.

Can you explain this?Thanks.

3939e83737

 

[SELVAM]

Hope this guy dont fuk up budding indian private defence industry

 

[SELVAM]

GST collections in October decline to Rs 83,346 crore

https://m.economictimes.com/small-b...ne-to-rs-83346-crore/articleshow/61829530.cms

This is 12-13% drop compared to previous month. What is the reason for this steep fall?

 

[Prashant12]

GST collections in October decline to Rs 83,346 crore

https://m.economictimes.com/small-b...ne-to-rs-83346-crore/articleshow/61829530.cms

This is 12-13% drop compared to previous month. What is the reason for this steep fall?

GST collections of Rs 83,346 is till 27th November. November month is still not over.

 

[Mikesingh]

GST collections in October decline to Rs 83,346 crore

https://m.economictimes.com/small-b...ne-to-rs-83346-crore/articleshow/61829530.cms

This is 12-13% drop compared to previous month. What is the reason for this steep fall?

Because GST rates have been lowered on many items.

 

[Butter Chicken]

The latest lowering of GST rates on restaurants etc is expected to generate loss of 20,000 crore.But on the other hand,eating out more due to less tax is good for the economy and generates more jobs

 

[Butter Chicken]

Boeing to scale up manufacturing operations, workforce in India

HYDERABAD: Boeing will scale up manufacturing in India by spreading its operations across Hyderabad and other southern cities, said Pratyush Kumar, president, Boeing India.

"Boeing in India is now also focussed on scaling up manufacturing through partnerships and engineering—both internally and through partnerships. When it comes to manufacturing, we have increased our sourcing by four folds over the past three years. This year, we expect this number to go beyond $ 1 billion," said Kumar, while pointing to Hyderabad and Bangalore as the aerospace hubs in the country.

"Today, we have around 1,200 people employed in India and our goal is to have 3,000 engineers in the country by 2020 and we are rapidly moving towards the same.

 

[Butter Chicken]

RFP issued for Rs 26,000 crore(more than $4 billion) Convention centre in Delhi.It will be India's largest and create 5 lakh jobs.

https://economictimes.indiatimes.co...t-may-create-5l-jobs/articleshow/61840726.cms

 

[SELVAM]

India's second quarter(july-sep ) gdp growth rate likely to be around 6.4%

 

[Flame Thrower]

It seems like IT is looking for blood.

https://m.timesofindia.com/business...-over-rs-25-lakh/amp_articleshow/61832275.cms

After linking of bank accounts with Aadhar, the hunt will be intensified.