Morgan Stanley said that the country’s macro indicators remain resilient, and added that India’s economy is on track to achieve the GDP forecast of 6.2 per cent.
LIC shares closed with a gain of 9.69 per cent at Rs 677.65 on the BSE on Friday.
The 30-share BSE Sensex jumped 490.97 points or 0.69 per cent to settle at 71,847.57 points.
The finance ministry and the National Statistical Office did not immediately comment on the viral social media post on India’s GDP crossing USD 4 trillion.
Refunds worth Rs 42,000 crore have been issued during April 1- July 9, 2023, which are 2.55 per cent higher than refunds issued during the same period in the preceding year.
“In five years, Indians will be saving a trillion dollars a year,” says Anshu Kapoor, President and Head Nuvama Asset Management.
GST authorities plan to introduce biometric authentication and geo-tagging for both existing and new registrants if they match as risky entities availing input tax credit fraudulently.
Prime Minister Narendra Modi on Thursday said India’s expanding economy is creating new possibilities for the youth and the unemployment rate in the country is at its lowest level in the last six years.
He said work is also underway with a multilateral development bank to prepare estimates for the cost of India’s net-zero transition.
United Kingdom-based energy giant BP’s Chief Executive Officer Bernard Looney’s views were consistent with those of energy-hungry emerging economies like India that are expediting transition to clean energy but are still heavily dependent on fossil fuels