The credit growth for FY22 will come at 12%, it said. It can be noted that credit growth had been declining for the last few years, in sync with a dip in the overall economic growth which has been on a downward spiral since demonetisation in late 2016 as borrowers went slow on expansion. … [Read more...] about Indian economy ‘weak,’ credit growth bottoming out: BofA
However, again from the point of view of the Budget, this decline to Rs 195 lakh crore will help in projecting a number of 15 per cent growth in nominal terms (10 per cent real and 5 per cent inflation) which will bring the level to Rs 224 lakh cr which is what was projected for FY21. … [Read more...] about Economy to bounce back next year!
"I keep saying that we are missing the need to repair. There is a lot of repair and relief that is needed in the economy and we don't need to focus so much on stimulus when in fact there are parts of the economy which are hurting deeply and need support," he said. … [Read more...] about Prioritise spending, boost infrastructure, sell PSUs: Raghuram Rajan on Budget
The sector is also expecting a concerted strategy to ensure that the tourism industry becomes a mainstay domestic industry. For this, measures like an income tax exemption on travelling within India, income tax credits for up to Rs 1.5 lakh when spending with GST registered domestic tour operators, travel agents, hoteliers, and transporters anywhere within the country are required, FAITH said. … [Read more...] about Pandemic-hit tourism & hospitality sector looks forward for fair deal in Budget
"Online education companies like Youdao have great advantages in going global, as they can leverage their abundant experience and technologies in the huge domestic market further into the overseas market," said Jiang Han, senior researcher at market consultancy Pangoal. … [Read more...] about Youdao Inc eyes bigger global presence