The Business Guardian - February 21, 2023

In this issue

February 21, 2023

GDP growth in FY23 to be 7%, FY24 at 6%

Credit rating agency Acuite Ratings and Research on Monday reiterated India’s gross domestic product (GDP) growth estimate for FY23 at 7 per cent.

1 min

Prices of cereals to be 15% higher, finds CRISIL

The prices of cereals are expected to be 14-15 per cent higher next fiscal as compared with the past five year average, said CRISIL in a report.

1 min

CENTRE TAKING STEPS TO CONTROL INFLATION WITH CONTINUED FOCUS

During the post-budget press conference, on a query over whether Budget FY24 would reduce inflation, the FM said

3 mins

Mudra scheme boosting employment in tourism: PM

Prime Minister Narendra Modi on Monday said that the Centre’s Mudra Yojana is playing a crucial role in boosting employment and self-employment opportunities in the tourism sector.

1 min

Only 50% rural households have tapped drinking water

Even as the deadline of providing drinking water through taps to every rural household under the government’s ambitious Jal Jeevan Mission (JJM) by 2024 is fast approaching, only 50.3 per cent of households have been provided with functional household tap connections (FHTCs), while as many as 13 major states have more than 95 per cent households without these connections.

1 min

Creditors face haircut of 70% in insolvency cases

The overall recovery rate in insolvency cases till Q3FY23 was 30.4 per cent implying a haircut of approximately 70 per cent.

1 min

Moderation in India's trade deficit could be transitory

The moderation in India’s trade deficit in January could be transitory in nature and factors like bottoming of the commodity prices, global inflation, suspension of container port in Turkey could give pressure on the trade deficit, said credit rating agency Acuite Ratings and Research.

1 min

TEPID START FOR INDIA INC, OVERALL ACTIVITY DOWN 41%

The M&A deal volumes declined by 62%, at 26 deals valuing $311mn, owing to the volatile market conditions

1 min

Fuel can be brought under GST ambit: FM

Union Finance Minister Nirmala Sitharaman Monday said that petrol and diesel can be brought under the GST ambit if the GST council takes a call.

1 min

CHINA-LINKED ONLINE SELLER BEATS RETAIL GIANTS AMAZON, WALMART

The new online shopping platform 'Temu' has quickly become the most downloaded app in the United States, leaving behind other leading retail giants

1 min

Pak's Jan CAD fell 90% due to import limitations

Pakistans current account deficit shrank 90.2 per cent to $0.24 billion in January from $2.47 billion in the same month last year as import restrictions continue to persist amid a balance of payments crisis that has brought the country on the verge of default, media reports said.

1 min

Godrej Aerospace to make eight modules of DRDO

In a first for an Indian private company, Godrej Aerospace has bagged the order to manufacture eight modules of the DRDO’s turbojet engine.

1 min

Ericsson to cut 1,400 jobs in Sweden

Telecom networking company Ericsson is planning to lay off at least 1,400 employees or 10 per cent of its workforce in Sweden after negotiating with unions.

1 min

Tata Motors, Uber sign pact for 25K XPRES-T EVS

On Monday, top auto-maker Tata Motors and ride-hailing service Uber inked a memorandum of understanding to add 25,000 XPRES-T EVs to Uber’s premium category service.

1 min

Reliance group's Tony Jesudasan dies aged 71

Tony Jesudasan, a prominent corporate communications and corporate affairs specialist and a senior lieutenant of Anil Ambani’s Reliance company, passed away early on Monday. He was 71.

1 min

EXPLOITING TECHNOLOGY TO UNDERMINE DEMOCRACY

The AIMS software is designed to create avatars for social media campaigns. These bots use stolen photos of real people, operate on any social media platform

4 mins

CHINA IS UNABLE TO CREATE CHATGPT AI RIVAL BECAUSE OF THIS

As the world goes gaga over an AI chatbot called ChatGPT, experts believe that developing its Chinese competitor will surely face censorship, cost and data challenges, as in the case of big Internet companies like Alibaba and Tencent, the media reported on Monday.

1 min

Ordered Bangalore Metropolitan Transport Corporation to pay Rs 2000 compensation, bus conductor refused to return Rs 1 change topassenger: Consumer Court

The consumer court in Bengaluru observed in the case Ramesh Naik.L And Managing Director, Bangalore Metropolitan Transport Corporation and has appreciated the effort of the consumer, who approached the consumer forum who is being after shortchanged for Rs 1 by a bus conductor of the Bangalore Metropolitan Transport Corporation.

2 mins

Kerala High Court seeking personal appearance of KM Shajahan in contempt case: Youtube video against HC Judges

The Kerala High Court in the case Suo Motu v. K.M. Shajahan observed and has directed K.M. Shajahan, the then private secretary of the former Chief Minister of Kerala V.S. Achuthanandan for appearing in person before the Court in the proceedings which are initiated against him for suo motu contempt and for making of a serious allegations in a YouTube video against the judges of High Court.

1 min

BIDEN VOWS 'UNWAVERING SUPPORT' FOR UKRAINE

The US President made a surprise visit to Kyiv ahead of the anniversary of Russia’s invasion of Ukraine

1 min

Arunachal 'important state' from strategic viewpoint

President Droupadi Murmu on Monday said Arunachal Pradesh is a “very important state” from a strategic and geographical point of view, adding a good infrastructure is essential for the national security and economic development of the state.

1 min

'We have many plans in energy sector with India'

Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman on Monday said that Saudi Arabia has many plans in the energy sector in close coordination with India and these will come to light soon.

1 min

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The Business Guardian Newspaper Description:

The Business Guardian is a monthly business magazine published in India. It was launched in 2005 and is one of the most popular business magazines in the country. The magazine is known for its in-depth coverage of the Indian economy, as well as its insights from leading experts in the field. It covers a wide range of topics related to business, including:

* Economic news and analysis: The Business Guardian covers the latest economic news and trends from India and around the world. The magazine also provides in-depth analysis of the Indian economy, as well as its impact on businesses and individuals.
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The Business Guardian is a valuable resource for anyone who is interested in business in India. It is a must-read for anyone who is looking to stay informed about the latest economic and business trends in the country, or who is looking for insights from leading experts in the field.