India’s manufacturing sector expanded at its fastest pace in four months in February, supported by robust domestic demand, though export growth moderated sharply, according to a survey by S&P Global.
The report suggested that to achieve the Viksit Bharat goal by 2047, India may need to significantly increase its tax-to-GDP ratio, primarily through improved tax compliance, as major tax reforms have already been undertaken.
As India’s domestic demand has remained steady amidst the global slump, overall imports in April-January 2022-23 are estimated to exhibit a growth of 22.92 per cent.
The five steelmakers could cut Rs 25,000 crore of debt this fiscal. Next fiscal, despite capex rising by 15 per cent, they can slice debt by another Rs 10,000 crore.
Crude oil prices rose 0.42 per cent to Rs 4,078 per barrel in futures market Friday as speculators created fresh bets, taking positive cues from domestic markets.
