PROMISING GROWTH
Union Budget 2024 may test Modi govt’s fiscal prudence as it attempts to fulfil Lok Sabha manifesto promises
Budget 2024: Modi is back in power with a stronger reliance on the NDA coalition, and FM Nirmala Sitharaman is expected to maintain fiscal prudence. The Centre has a target of bringing down India's fiscal deficit for FY25 to 5.1% of GDP, which experts see as an encouraging indicator for 'Bharat's' growth story. Sitharaman said that the government would stick to numbers provided in the interim budget numbers if voted to power.
IREDA Q1 Results: PAT jumps 30% YoY to Rs 384 crore, revenue surges 32%
IREDA Q1 Results: The state-run NBFC saw a significant increase in loan sanctions, up 387% to Rs 9,210 crore compared to Rs 1,892 crore in the same period last year. Loan disbursements also rose by 68%, reaching Rs 5,326 crore compared to Rs 3,173 crore in the previous year.
India's fertility rate: 31 states/UTs hit target, but Bihar and UP lag behind
Recent government data shows that 31 out of 36 states and Union Territories in India have reached the replacement fertility rate of 2.1. However, Bihar, Uttar Pradesh, Jharkhand, Meghalaya, and Manipur still have higher rates.
Budget 2024: Will Sitharaman fulfill a promise made after the Interim Budget?
Budget Tax Expectations: FM Nirmala Sitharaman plans to address tax relief in the upcoming full Budget to stimulate private consumption and economic growth. Expectations are high as she aims to cater to various income groups and key constituencies.
Will Nirmala Sitharaman under-promise and over-deliver in Budget? BofA predicts
Finance Minister Nirmala Sitharaman is set to present her seventh consecutive Union Budget, expected to include an effective tax rate cut, increased subsidies for cooking gas, interest rate subventions for rural and urban housing, special financial assistance to states, and expanded subsidised healthcare coverage.
Will Nifty continue to scale new highs ahead of Budget? Mahantesh Sabarad answers
The markets have been buoyant for all these reasons and we are also likely going to see a lot of corporate profitability surging ahead because there has been a general demand recovery post the lull we have seen the last three-four years particularly on the consumer side, both durables as well as fast moving goods.
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Urban areas hardest hit while rural sector holds steady as FMCG growth slows
FMCG sales growth has slowed down in both urban and rural areas despite price cuts. Factors such as heat waves, election-related restrictions, and reduced cash-buying have impacted demand. Analysts foresee a potential rural-led recovery in the second half of FY25, with expectations of muted value growth and potential volume growth for staple companies.
'Jobless growth': Congress slams govt over 'accentuated unemployment crisis'
The Congress criticized the Modi government for exacerbating India's unemployment crisis due to failed policies like demonetization and GST. Citing a Citigroup report, they highlighted the urgent need for job creation and reforms to address the high unemployment rates in the country.
UK election-winner Starmer inherits weak economy with 'no magic wand'
Living standards have stagnated since Conservatives took power in 2010 and Britain's recovery from the COVID pandemic has been the weakest among big rich nations after Germany. Starmer will be under pressure to use Labour's huge majority in parliament to end the sense of decline, from creaking public services and inflation-hit personal finances to a shortage of housing and weak business investment.
GoI must focus on equitable growth and quality employment
The recent Annual Survey on Unincorporated Sector Enterprises (ASUSE) is a valuable source on informal enterprises provided by GoI that promises to tell us about these voters whose dreams lie unfulfilled. They have struggled in the world’s largest informal economy, India, in jobs without social protections and with lower pay.
Kazakhstan’s strategic investment plan aims to boost economic growth
Kazakhstan, Central Asia’s largest state rich in resources, is actively seeking foreign investments and global brands. Gabidulla Ospankulov, Chairman of the Investment Committee of the Kazakh Ministry of Foreign Affairs, outlined strategies to attract $150 billion in investments by 2029, aiming to elevate the national economy to $450 billion. Measures include state preferences, anti-corruption efforts, and reducing bureaucratic barriers.
IPO Analysis: Emcure has better-listed pharma alternatives
Emcure Pharma, with its strong presence in gynaecology and HIV therapeutic areas, secured significant investments from anchor investors like HDFC Mutual Fund and ICICI Prudential Mutual Fund, showcasing immense market confidence in its upcoming IPO.
Bihar poised to become growth engine of East: Minister Nitish Mishra
Bihar aims to attract capital in various sectors, becoming East India's growth engine with new policies in 2 months. Aligning with Prime Minister Modi's vision, State Minister Nitish Mishra seeks to promote industry and employment, highlighting Bihar's development potential at a Kolkata event with over 50 companies. The state plans to introduce sectoral policies to draw investments and dispel misconceptions, aiming to position itself as a hub for tourism and industry, offering incentives for investors to tap into its market and create livelihoods.
AI: the supercharger for India’s MSMEs
Artificial intelligence (AI) is not only reshaping India’s landscape but also fostering economic growth through innovative tech solutions. According to Stanford University’s annual AI Index report, India saw the fifth highest investments last year in startups offering AI-based products and services.
Modi 3.0: Growth sequel starring jobs, investment
The full budget, likely to be presented early in July, will detail specific measures toward this end. "The focus would be to promote labour-intensive growth that will create jobs, with continued emphasis on macroeconomic stability," a top government official aware of the details told ET. A host of measures on startups and taxation - including inverted duty structure correction, along with GST rate rationalisation - is under discussion, said the person cited above.
Lok Sabha Results: Coalition govt is back. Will policy paralysis too strike again?
Over the past decade, Narendra Modi has propelled India's economy to become one of the fastest-growing globally, positioning it to soon rank as the world's third-largest. His emphasis on reforms and dynamic policies, exemplified by initiatives like Make in India, has bolstered manufacturing and infrastructure growth. However, the recent Lok Sabha election results, leading to a coalition government, raise concerns about potential challenges and policy paralysis ahead. Expert analyses suggest that while coalition governments have historically been effective in driving economic growth, they have struggled to control inflation.
Why should reforms now be a problem? Freebies, promised or delivered, didn’t work. Labour, trade, education & privatisation reforms await
Voters in the recent election have sent a clear message: they value responsible spending over freebies. At the national level, the NDA government, despite a reduced majority, was preferred over a challenger promising unattainable giveaways. Similarly, in Andhra Pradesh, the incumbent government, known for excessive freebies, faced a resounding defeat. The takeaway for future governments is to spend taxpayer money judiciously, prioritizing essential functions like infrastructure, education, health, and defence.
Upgrade of India's rating outlook reflects solid growth, promising outlook: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman praised S&P's upgrade of India's rating outlook to positive, citing solid growth and a promising future. She highlighted India's trajectory towards becoming the third-largest economy and achieving Viksit Bharat by 2047. S&P's first positive outlook for India, while retaining the 'BBB-' investment grade, reflects successful macroeconomic reforms since 2014, substantial capital expenditure, fiscal discipline, and visionary leadership. Sitharaman shared these comments in a post on X, emphasizing the significance of this development for India's economic prospects.
5 next crypto to explode in 2024 with promising returns
The potential of crypto coins to increase in value attracts investors. Notable coins like 5thScape and DarkLume have shown significant growth. The article discusses the next cryptocurrency to explode in 2024, highlighting promising projects like 5thScape and DarkLume.
'Have delivered on 2019 promise of putting corrupt behind bars, our govt leveraged technology to tackle corruption': PM Modi
Prime Minister Narendra Modi, currently vying for a third consecutive term, reaffirms his 2019 pledge to incarcerate corrupt individuals, asserting that he has fulfilled this promise. In an extensive discussion with ET, PM Modi addressed various topics. He reiterates the government's dedication to ensuring that the benefits of progress extend to all individuals in need, irrespective of their caste, creed, or geographical location.
Restoration of J&K statehood is "solemn promise" we have made, will stand by it: PM Modi
Prime Minister Narendra Modi reaffirmed his commitment to restore statehood of Jammu and Kashmir, highlighting record voter turnout in Srinagar as a positive sign. Emphasising progress since abrogation of Article 370, Modi envisioned a peaceful, prosperous future for the region, aiming to make J&K a hub of culture, knowledge, and technological innovation.
FM Nirmala Sitaraman flags 'gigantic schemes of fiscal splurge' pledged by Congress
The Congress has promised to launch a Mahalakshmi Scheme to provide Rs 1 lakh per year to every poor Indian family as unconditional cash transfer, and write off student loans, if voted to power. It also wants to guarantee a national minimum wage of ₹400 per day, among a host of other populist pledges.
Green career path looks promising but remember that it is a nascent industry
The green job sector is rapidly expanding with numerous growth opportunities, but also presents challenges due to its nascent stage. Individuals must navigate issues like evolving landscapes, skill gaps, and market fluctuations. Strategies include pursuing relevant education, upskilling, leveraging AI, networking, and remaining adaptable to excel in this dynamic industry.
YSRCP manifesto: Key promises and highlights
YSRCP chief Y S Jagan Mohan Reddy unveiled the party manifesto for the upcoming elections, pledging to incrementally raise welfare pensions from Rs 3,000 to Rs 3,500 per month. He also proposed to govern the state from Visakhapatnam, promising to elevate the city as the executive capital once the YSRCP forms the government in 2024. Reddy outlined plans to develop Amaravati as the legislative capital and Kurnool as the judicial capital.
Tesla jumps 10% as Musk's promise of 'more affordable' cars eases growth fears
Investors had been bracing for the worst after a tumultuous week at Tesla that saw big layoffs, executive exits, price cuts and the postponement of a highly touted meeting with the Indian prime minister. The newly minted plans also helped Wall Street shrug off the company's weak first-quarter results, including a lower-than-expected profit and the first drop in quarterly revenue in nearly four years.
Tesla jumps 10% in premarket as Musk's promise of 'more affordable' cars eases growth fears
Investors had been bracing for the worst after a tumultuous week at Tesla that saw big layoffs, executive exits, price cuts and the postponement of a highly touted meeting with the Indian prime minister.
Fundraise by InvITs, REITs surges multi-fold to Rs 17,116 cr in FY24 on promising returns
Investor interest in Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) has surged, with fundraising hitting Rs 17,116 crore in 2023-24, a significant increase from the previous year. The optimistic outlook for the current fiscal year FY25 is driven by regulatory amendments and growing popularity.
GPT Healthcare has promising prospects, but wait for listing to get clearer picture
Set up in 2000 as an eight-bed hospital at Salt Lake in Kolkata by laparoscopic surgeon Dr Om Tantia, the company now operates four secondary and tertiary care hospitals in Dum Dum, Salt Lake and Howrah in West Bengal and Agartala in Tripura with a total capacity of 561 beds.
Happy Promise Day 2024: 10 Best promises to strengthen your relationship
Happy Promise Day 2024: As we navigate the intricacies of modern relationships, it becomes essential to identify the key promises that can fortify the bonds we hold dear. From communication and understanding to unwavering support, these promises lay the groundwork for a relationship that withstands the tests of time.
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