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India’s services growth slows a touch but still solid, PMI shows

August 5, 2024
General
An employee works inside an engineering goods export unit in the manufacturing hub of Faridabad on the outskirts of New Delhi, India, January 13, 2023. REUTERS/Manoj Kumar

BENGALURU, Aug 5 (Reuters): Activity in India’s dominant services sector remained upbeat in July on robust demand, leading to strong job creation, despite elevated cost pressures pushing up selling-price inflation to a seven-year high, a survey showed. The HSBC final India Services Purchasing Managers’ Index (INPMIS=ECI) , opens new tab, compiled by S&P Global, fell marginally to 60.3 in July from 60.5 in June and was considerably below a preliminary estimate of 61.1. However, the overall pace of expansion was sharp and the index remained above the 50-mark that separates contraction from expansion for the 36th straight month. It was

“BJP kept farmers of country trapped in debt trap”: Rahul Gandhi

July 31, 2024
General

New Delhi [India], July 31 (ANI): Congress leader Rahul Gandhi on Wednesday criticized the BJP, alleging that it has trapped the country’s farmers in a cycle of debt. He said that the INDIA bloc aims to free farmers from this by offering them a legal guarantee of Minimum Support Price (MSP). His remarks come after the government of Telangana released the second tranche of the farm loan waiver. Sharing a post on his official X handle, Rahul Gandhi said, “Congratulations once again to the farmer brothers and sisters of Telangana. As per its manifesto promise, the Telangana Government has released

Modi faces middle class ire over budget as state polls loom

July 31, 2024
Finance

NEW DELHI, July 31 (Reuters) – Indian Prime Minister Narendra Modi, smarting from setbacks in the April-June general election, is now being berated for last week’s budget by the country’s swing voters, the middle class, putting his party on the defensive ahead of polls in three states and a federal territory. The budget raised taxes on gains from retail investments in financial markets, left income tax rates untouched despite talk there would be relief and removed some real estate tax benefits, leading to outrage among the middle class, which makes up about 30% of India’s 1.42 billion people. Graphics artist

MSP can be implemented, will rally INDIA bloc to pressurise govt: says Rahul Gandhi after meeting farmer leaders

July 24, 2024
General

New Delhi [India], July 24 (ANI): Leader of Opposition Rahul Gandhi on Wednesday met with a 12-member delegation of farmer leaders from different states, who apprised him of various issues they have been facing. After the meeting held at his office in Parliament House Complex, Gandhi emphasized the Congress party’s commitment to providing a legal guarantee for the Minimum Support Price (MSP) in their manifesto. He stated that an assessment has shown that the legal guarantee of MSP can be implemented. Gandhi further said that the Congress will rally support from other leaders within the INDIA alliance to press the

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