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BUSINESS ECONOMICS - August 1 - 31, 2023

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Amidst global uncertainties and a faltering global
economic growth prospect, the Indian economy
continues to display robust growth momentum, supported
by strong macroeconomic fundamentals. The Reserve Bank
of India has projected the real GDP growth at 6.5% for
2023-24 over and above the 7.2% growth it achieved last
year. The International Monetary Fund has projected India’s
GDP growth at 5.9% for 2023-24 while the World Bank has
projected it at 6.3%.
The UN report ‘The World Economic Situation and
Prospects as of mid-2023’ published last May was even
more optimistic about India’s growth prospects. India's GDP
is expected to grow by 6.7% in the calendar year 2024,
supported by resilient domestic demand, according to the
report which suggested that higher interest rates and weaker
external demand will continue to weigh on investment and
exports this year for the country.

AU Small Finance Bank

Founded in the year 1996, an Indian Small Finance Bank with its headquarters in Jaipur is called AU Small Finance Bank Limited. In 2017, it changed its name from AU Financiers (India) Ltd, a vehicle finance firm, to AU Small Finance Bank.

4 mins

Internationalisation of INR: RBI's Efforts to Strengthen Domestic Currency and Exports

The Reserve Bank of India (RBI) has taken significant strides this year by announcing the internationalization of the Indian rupee (INR). Internationalization implies widespread acceptance of the INR globally as a medium of exchange, allowing India to use INR for imports. This move by the RBI enables settling payments for international trade in INR, invoicing, and payments, which is part of a gradual de-dollarization plan.

2 mins

India needs to elevate the penetration and density of insurance

The insurance sector holds significant importance in a modern economy and its development is assessed through two key indicators: insurance penetration and insurance density. Insurance penetration is the percentage of total insurance paid in a year relative to the GDP of that year, while insurance density refers to the ratio of premium to population, usually measured in US dollars for international comparisons. Unfortunately, India has been lagging behind the global average in both these aspects.

3 mins

US dollar losing its dominance

Contrary to Western calculations, recent anti-Russian economic sanctions have turned into yet another example of a major financial decision going disastrously wrong.

2 mins

INDIAN BANKS EARN RECORD PROFIT, CUT NPA RATIO TO A DECADAL LOW, IMPROVE ASSET QUALITY AMIDST GLOBAL FINANCIAL TURMOIL

7 mins

Unlocking energy storage

Sheru, an energy storage start-up based in New Delhi, India, offers cloud storage solutions by aggregating idle battery capacity to create a virtual energy storage platform. Notably, Sheru is the world's first company to integrate V2G technology with battery swapping, synergizing two complementary systems. In an interview with BE's Saptarshi Deb, Ankit Mittal, the Co-Founder and CEO of Sheru, sheds light on the company's journey and its business model.

3 mins

A Mall for handicrafts

Involving an initial expenditure of ₹159 crores, the proposed mall at Nonadanga at Adarsha Nagar off Eastern Metropolitan bypass is a brainchild of Mamata Banerjee headed Trinamool Congress state government.

1 mins

Rural Auto Market Surges to New Heights

India’s rural markets, which had remained stagnant for the previous three years due to the economic effects of the pandemic, are now gaining momentum and are expected to drive demand for automobiles, motorcycles, and tractors as the nation enters the holiday shopping season later this quarter. Surprisingly, the rural auto market has emerged as a success story, defying initial predictions of economic downturns in the aftermath of the global pandemic. While urban areas initially experienced a slump in automobile sales due to pandemic-related restrictions and remote work arrangements, rural communities have shown remarkable resilience, driving the demand for vehicles to unprecedented levels.

2 mins

Pune's real estate market is thriving

The Goel Ganga Group, a prominent player in Pune's real estate sector, has over 40 years of experience in the industry. They have ambitious plans to expand to other cities in Maharashtra, including Nagpur and Mumbai. BE's Saptarshi Deb interviewed Atul Goel, Managing Director of the Goel Ganga Group, to discuss the company's vision and mission.

3 mins

Unravelling the Surge: Understanding the Hike in Tomato Prices in India

The recent skyrocketing price hike of tomato in India left the countrymen and economy in shock. This surge has impacted households, restaurants, and food industries across the country. In this article, we talk about the whys and wherefores behind the recent hike in prices and its potential inferences on the economy and consumers.

2 mins

Cockroach Theory

A beautiful speech by Sundar Pichai - an IIT-MIT Alumnus and Global Head Google Chrome:

1 mins

Not just Manipur: entire north-east needs a well-knit programme for peace and prosperity

On the west it is Kashmir, and now in the east it is Manipur. These are glaring examples of centre’s mishandling of the states over an extended period of time and there seems to be no clue towards a resolution of the troubles. Already, IMF has predicted a fall in India’s GDP growth in the coming year, and it might worsen if the government doesn’t act fast to bring back normalcy. The entire country is shocked and agitated over what is happening in Manipur.

2 mins

Lees alle verhalen van BUSINESS ECONOMICS

BUSINESS ECONOMICS Description:

Uitgever: Business-Economics

Categorie: Business

Taal: English

Frequentie: Monthly

Business Economics, following its credo of “exclusive and comprehensive” coverage, has been one of India’s most popular business magazines. What started as a 12-page tabloid in 1995 has become a magazine with global reach and coverage.

Each issue consists of ten main sections: World, Finance, Economy, Industry, Agriculture, Environment, Technology, Health, Culture, and Enlightenment. It covers the entire gamut of economic activities in India and abroad. Thoughtful pieces on socially and politically relevant issues, health, education, culture and enlightenment are also covered to give our readers an all around perspective.

Besides having a team of highly-qualified and experienced editors and a network of correspondents spread across the country, it has a panel of eminent columnists.

Business Economics is committed to objective reporting and is not attached to any political or economic ideology