The economy may grow by around 7 per cent this financial year as estimated by the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), say economists with various organisations. The first advance estimates for 2023-24 will be released on Friday by the National Statistical Organisation (NSO), an exercise done for calculating ratios such as the fiscal deficit. The interim Budget will be presented on February 1.
The Centre should provide a clear regulatory pathway that it will follow so that automobile companies can plan their investments and car launches accordingly, Venkatram Mamillapalle, managing director (MD) & chief executive officer (CEO), Renault India Operations, said on Tuesday. Renault is planning to launch five cars - including a B-plus segment sport utility vehicle (SUV), a C-segment SUV and an electric vehicle (EV) - in India in the next three years, he told reporters. In early 2022, the ministry of road transport and highways had announced that cars in India would be required to have six airbags from October 1, 2022.
Maruti recorded a 13.12% year-on-year surge in average revenue earned per car in 2023 compared to M&M's 7.56%, Hyundai's 6.76% and Tata Motors' 1.88%.
'We have informed the government multiple times that the situation in the US and India are different.' 'Here, there will be a 500 MHz gap in the frequencies which will safely allow aviation without interference.'
If electric cars with a real range of more than 400 km are launched, the anxiety regarding the charging points will come down, and more people will buy EVs.
SpiceJet's resurgence, once the new funding is in place, has the potential to disrupt the Indian aviation market in 2024 as the airline will bring its grounded aircraft back to service and lease as many planes as possible to be competitively relevant, aviation consultancy firm Capa India said on Thursday. "Although the market for procuring aircraft in 2024 is exceptionally tight, we expect that SpiceJet will bring stored aircraft back into operations, and will wet or dry lease as much capacity as possible, in order to be competitively relevant. "This will have a material impact on the industry structure, and possibly on domestic profitability," Capa India said in its report.
The rising goods and services tax (GST) and personal income-tax collections may bolster the Narendra Modi government's ability to announce new schemes or enhance existing ones.
The deficit stood over Rs 8 trillion in the first seven months of the current financial year. Non-tax revenues, comprising transfers from the RBI and dividends of the public sector units, shored up the Centre's revenues.
Air India significantly altered the composition of the aircraft order it placed earlier this year with Airbus, the European plane manufacturer has said. In February, Air India had placed the world's second-largest single-tranche aircraft order for 470 planes: 250 with Airbus and 220 with Boeing. In July, Airbus disclosed an order comprising 70 A321neo, 140 A320neo, 34 A350-1000, and six A350-900 aircraft for Air India.
The scarcity of resources is particularly evident in the case of Rajasthan compared to many other states.
'Revision of the base year for both CPI and GDP are long overdue.' 'The basic data that went into the 2011-2012 series were mainly from surveys done in 2011 or earlier.' 'We have since seen the emergence of new sectors like platform-based work and online marketing.' 'The employment surveys and the consumption surveys need to reflect these adequately.'
Data reveals that India issued only 5,709 tourist visas during this year's January 1 to November 2 period, reflecting a staggering 91 per cent decrease compared to the entire year of 2022.
Nearly 200 of the 789 aircraft of Indian carriers are expected to be grounded by the end of March due to ongoing supply chain issues, according to the report released on Monday by CAPA India. At present, 161-166 aircraft are grounded. "More aircraft will be on the ground than expected due to serious supply chain issues, which were supposed to improve but actually deteriorated," it noted.
The presence of an engine maintenance, repair, and overhaul (MRO) facility in India could have prevented Go First airline from going "belly up", as sending engines abroad for servicing is not an efficient way to operate a carrier, Piyush Srivastava, senior economic advisor, Ministry of Civil Aviation, said in a statement on Tuesday. On May 3, Go First suspended its flights and filed for insolvency, squarely blaming engine manufacturer Pratt & Whitney (PW) for its cash crunch. The airline claimed that about half of its 54 aircraft were grounded on May 3 due to a delay in the supply of engines by the US-based company. PW has denied the charges.
Ahmedabad airport recorded thrice the number of private chartered/VIP flights in the build-up to the final of the ICC Men's Cricket World Cup as compared to the average four-day period. The airport, which usually operates around 64 chartered flights in a span of four days, is set to handle 205 such flights between November 17 and 20, as celebrities and other VIPs descended to watch the India-Australia match.
'India is the sixth-largest market for the Kia Corporation, and contributes 8 to 9 per cent to our global sales.' 'We are eyeing 10 per cent market share over the next few years depending on customer demand and new product innovations.'
The situation raises concerns about whether the promised freebies will once again push the state into a revenue deficit.
'It will take some more time because the affordability of these cars have changed drastically.'
As political winds stir in these states, it's prudent to assess their economic landscapes.
Navi Mumbai airport's construction is facing delays, and is likely to commence commercial operations in 2025 instead of 2024, aviation consultancy firm CAPA has said in a report. When asked about this matter, the Adani Group told Business Standard that the Navi Mumbai airport project is "being executed as per scheduled implementation plan and will be operational by the original target date of December, 2024, without any delay". Navi Mumbai International Airport Limited (NMIAL), responsible for both the construction and operation of the airport, is a subsidiary of the Adani Group.
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