STATE SPONSORED GROWTH

Seas will drive growth and prosperity in future, vital to keep them safe and secure: Admiral Kumar

Chief of Naval Staff, Admiral R Hari Kumar, emphasized the critical role of seas in driving future growth and prosperity, highlighting the need to ensure their safety and security. He praised the BrahMos missile for its potency and evolving capabilities. The Cabinet Committee on Security approved the procurement of over 200 BrahMos missiles for the Indian Navy. Admiral Kumar also highlighted the importance of self-reliance in defense manufacturing for strategic autonomy, emphasizing the Indian Navy's commitment to safeguarding the Indian Ocean Region.

Commandeering heights: Shift from disinvestment to enhancing PSU value is smart economics and nifty politics

PSU reform and privatisation have been ongoing since the times of Rajiv Gandhi, P V Narasimha Rao, and Atal Bihari Vajpayee. Under Narendra Modi's leadership, PSU reform has been further expanded, including the sale of Air India to Tata Group.

Growth of caffeinated energy drinks makes Govt anxious

Amid a surge in consumption, particularly among teenagers and athletes, government officials are considering tighter regulations for caffeinated energy drinks. Concerns over potential health risks from excessive consumption prompt reevaluation by the Food Safety and Standards Authority of India (FSSAI). Proposed changes may include mandatory disclosures of caffeine content and consumption limits on packaging. Industry players like PepsiCo and Coca-Cola await official directives amidst rising scrutiny.

View: Downing deficit, but not growth

The Indian government has aimed to reduce the fiscal deficit by lowering state fiscal deficits, allowing for the funding of private sector capex. This will result in lower gross market borrowing and lower capital costs in FY25. The budget aims to fund higher capex and 0.7% of GDP fiscal consolidation through higher taxes and lower current expenditure.

Viksit Bharat: Centre to provide Rs 75,000 crore interest-free loan to states

The Union government proposes a Rs 75,000 crore, 50-year interest-free loan to states for reforms supporting the vision of 'Viksit Bharat.' Finance Minister Nirmala Sitharaman announced this in the Budget speech, aiming for India to become a developed nation by 2047. The loan supports milestone-linked reforms in states, part of the government's approach to inclusive development, covering all castes and levels. The total resources transferred to states in 2024-25 stand at Rs 22,22,264 crore, a significant increase from the previous fiscal year.

Softer growth in central & state capex seen; construction to support rural incomes next couple of years: Pranjul Bhandari, HSBC

Pranjul Bhandari of HSBC predicts that in FY25, both central and state government capex will grow at a slower clip. However, this slowdown may not be negative for growth as the central bank is expected to implement looser monetary conditions. Bhandari suggests that the central bank will ease liquidity, which can effectively act as a rate cut of about 40 to 50 basis points. While the rural economy has faced challenges, the construction sector has provided an alternate source of income for rural Indians

Driving Growth: MISUMI's Strategic Expansion in the Indian Industrial Landscape

Centre may save Rs 30,000 crore as states falter

The Centre is expecting savings of at least Rs 30,000 crore from its budgeted Rs 1.3 lakh crore assistance to states for capital expenditure in 2023-24, as the states have faltered in using the sanctioned amount, said people with knowledge of the matter. The Centre has released Rs 60,104 crore under the Special Assistance to States for Capital Expenditure scheme in this financial year, of the sanctioned amount of about Rs 1 lakh crore so far, showed official data.

Apple flags ‘state-sponsored’ hacking, govt orders probe; inside PharmEasy’s Rs 3,500-crore rights issue

The Centre has ordered probe after opposition members, journalists received messages on their iPhones, warning them of possible ‘state-sponsored’ privacy attack. This and more in today’s ETtech Morning Dispatch.

​Centre has not released funds for 61 schemes, CM says accusing BJP of taking political revenge on Karnataka

​Siddaramaiah suspected the Centre was taking revenge on Karnataka for voting in a Congress regime. The BJP national president JP Nadda had threatened voters during the election campaign that the Centre would stop funds if the BJP was not re-elected, the CM claimed and wondered if the Centre was actually implementing this threat.

Indian Oil becomes title sponsor of MotoGP Bharat

Indian energy company Indian Oil has become the title sponsor of the first-ever MotoGP race in India, MotoGP Bharat. The event will take place at the Buddh International Circuit from September 22 to 24, with 42 teams and 84 riders competing across multiple categories.

Aggregate state GST collections growth to moderate to 12-14 per cent in FY24: Crisil

Crisil predicts that the growth in the aggregate GST collection for states will decrease to 12-14% in FY24 from 20% in FY23. Despite the moderation, GST collections will remain the leading driver of revenue growth for states. The resilience of the Indian economy, moderate inflation, and increasing tax compliance will contribute to the GST collections.

'Mumbai Indians sees up to 22% jump in sponsor revenues'

Team sponsorships have emerged as an ideal option for many brands who can't afford to buy sponsorship on TV or digitally during the IPL, he said. Mumbai Indians has identified digital and licensing & merchandising as the next big drivers of revenue growth.