In a big push to the production-linked incentive (PLI) scheme, the government has nearly doubled (increase of 81 per cent) the allocation in five key industry segments from Rs 8,405 crore in the Revised Estimate of FY24 to Rs 15,198 crore in the Interim Budget for FY25. The segments cover over eight PLI schemes, including mobile phones, IT hardware, pharma (PLIs for medical devices, intermediates and pharmaceuticals), food processing, telecom hardware and, auto and auto components. In FY24, DPIIT officials, however, said that the disbursements would be much higher at around Rs 11,000 crore than what has been budgeted for the year.
It will be in Modi's interest to reinvent his party, read the writing on the wall that voters wrote, and move ahead. He has little choice now. The country is watching, asserts Ramesh Menon.
As the country faces the possibility of a fractured mandate after the 2014 general elections, Planning Commission Deputy Chairman Montek Singh Ahluwalia is of the view that in an era of coalition governments, special steps are needed to build consensus around policies or else, India will not be able to grow at its full potential.
After much flip-flop, the Congress decided to form an alliance with the Bharat Adivasi Party (BAP) and the two parties fielded their joint candidate -- Rajkumar Roat. However, the Congress candidate, Arvind Damor, whose name was announced before the stitching of the alliance, has refused to withdraw his nomination.
Information technology (IT) giant Wipro has a strong pipeline of large artificial intelligence (AI)-led deals in the health care vertical, according to a senior company executive. Health care stands as the third-largest vertical for Wipro, contributing roughly 14 per cent to the company's overall revenue. Moreover, while most other verticals reported negative growth, health care demonstrated robust growth of 9.9 per cent year-on-year and 7.5 per cent quarter-on-quarter in constant currency during the October-December quarter.
At a meeting with the prime minister, Leader of Opposition Sonia Gandhi insisted that Congress president suggested the government consult other political parties before taking any decision on the issue.
In the first high-level bilateral engagement after the installation of the NDA government, India on Thursday assured Bangladesh that efforts were on to evolve a national consensus on the contentious Teesta river water sharing deal even as it announced easing of visa norms for certain categories of visitors from Bangladesh.
Holding simultaneous elections to Lok Sabha and state assemblies would need at least five constitutional amendments and a large number of additional EVMs and paper-trail machines costing "thousands of crores of rupees", but will yield a huge long-term saving to the public exchequer, officials said on Friday.
CPI-M General Secretary Prakash Karat admitted that differences did exist between the allies and said, "We are trying to reach a consensus."
The MEA said the two sides shared their perspectives on the matter in the talks held in a friendly and cordial atmosphere.
The fast-moving consumer goods (FMCG) sector has underperformed the Nifty over the past year as its 20 per cent return is trumped by 29 per cent of the benchmark index. The FMCG index saw a 2.2 per cent drop in the last session, while the Nifty lost 1 per cent. FMCG is seen as a defensive segment. The demand for staples like personal care products, groceries and snacks tend to be stable. FMCG companies are consistent dividend-payers.
The proposed changes making it easier for government and businesses to buy farm land are now likely to be implemented by states, not by the central government
In a statement issued on Saturday, Austin said that the US and the UK also received support from Australia, Bahrain, Canada, Denmark, the Netherlands and New Zealand in conducting the additional strikes.
'In Western UP, last time a lot of Dalits voted for the BJP.' 'This time, there is a rethink among Dalits about the extent of their support for the BJP.'
Allahabad high court Chief Justice D Y Chandrachud has criticised the Uttar Pradesh government for putting the name of Justice (retd) Virendra Singh in the list sent to Supreme Court for appointment of Lokayukta, and also for "failing" to inform the apex court that a panel had "nearly reached" an understanding on a name.
The silver lining for India's presidency is likely to be the support by almost all G20 countries to its proposal to include the African Union as a permanent member of the bloc that has emerged as perhaps the most influential multilateral forum after the United Nations.
The sharp jump in shares of Kalyan Jewellers (Kalyan) has surprised many on the Street; however, analysts believe more steam could be left in the stock as the Thrissur-based gold retailer pivots to a new asset-light network expansion model. Kalyan's stock has surged 62 per cent in the past month, even as the S&P BSE SmallCap Index has gained just 5 per cent. In its latest business update, the company said its consolidated sales grew more than consensus expectations at 31 per cent year-on-year, led by strong domestic sales regardless of the volatility in gold prices.
Farmers will march towards Delhi on Tuesday after a meeting with two Union ministers over their demands, including legal guarantee to minimum support price (MSP) for crops, remained inconclusive.
India on Saturday pulled off a big diplomatic win after the G20 summit held under its presidency adopted a consensus declaration overcoming major differences on the Russia-Ukraine war, as Prime Minister Narendra Modi called for ending the "global trust deficit".
Some Ukrainian athletes see their nation's current blanket ban on competing against Russians and Belarusians -- regardless of the flag athletes from those two countries compete under -- as a self-inflicted wound damaging sports stars' careers.
Certain changes in the past two or three years could have a long-term structural impact on the IT services market.
The ruling Bharatiya Janata Party-Shiv Sena-Nationalist Congress Party alliance and the opposition Maha Vikas Aghadi are facing multiple problems in Lok Sabha seats like Sangli, Madha and Satara in western Maharashtra due to political dynasties, old rivalries and one-upmanship, prompting a flurry of meetings before five phase polls begin in the state on April 19.
The biggest question looming over the summit is whether there will be a joint leaders' declaration in view of the sharp differences between the West and the Russia-China combine on the text to describe the Ukraine conflict in the document.
Jharkhand keeper-batter Ishan Kishan's reluctance to play first-class cricket and focus only on the IPL could prompt the BCCI to make a minimum number of Ranji Trophy games mandatory for players in order to be eligible for the cash-rich league's lucrative auction pool.
'The prime minister took a meeting recently and he asked for suggestions and ideas for a plan till 2047.'
...Even if it means less democracy, so that their everyday problems get solved? argues R Jagannathan.
Government announcements for the building of new roads, railways, and other capital expenditure (capex) projects may have hit an all-time low, according to numbers for the December quarter.
'It makes sense to have gold in one's portfolio keeping the political and economic risks of 2024 in mind.'
'Another term for the government under the prime minister would likely be a step forward on the path to Hindu Rashtra.' 'No question of going back or any slowing down.'
The government may not be able to put in place the Digital India Act, which aims to replace over 23 years old IT Act 2000, before the next general election, as there is not much time left for extensive consultation, Minister of State for Electronics and IT Rajeev Chandrasekhar said on Wednesday. While speaking at the Global Technology Summit 2023, the minister, however, said the rules for the Digital Personal Data Protection Act will be out later this month for consultation and are expected to be notified by the end of December or early January. Chandrasekhar said the existing IT Act doesn't even have the word internet, and there is a consensus that it can be safely superseded and replaced.
Asked about the anti-American demonstrations in Pakistan, US State Department spokeman Richard Boucher said: "Pakistanis and others certainly have the right to demonstrate and express their political beliefs."
"Frequent elections not only impose a huge burden on human resources but also impede the development process due to the promulgation of the model code of conduct. Therefore, a sustained debate is required on the subject of simultaneous elections and all political parties need to arrive at a consensus on this issue," he had said.
After a sharp fall in the share prices of HDFC Bank and other private sector lenders in the past three days, the BFSI (banking, financial services and insurance) sector weighting in the Nifty50 has slipped to a seven-year low of 32.03 per cent, down from nearly 36.6 per cent at the end of March 2023 and 34.5 per cent at the end of December 2023.
Global trends, macroeconomic data, and the outcome of the US Fed policy meeting are the major factors that will drive the movement in the domestic equity markets this week, analysts said. "In the upcoming data-centric week, the focus will be on crucial releases, including inflation data from India and the US. "Indian inflation is expected to rise, while US inflation will remain steady.
Morgan Stanley has increased the target prices of certain information technology (IT) stocks by as much as 29 per cent, anticipating an improvement in earnings in the near future. Within the IT and engineering research and development (ER&D) services sector, it is now more optimistic about growth and margin estimates for 2024-25 (FY25).
Foreign portfolio investors' (FPIs') net investments in the domestic debt market surged in December, marking a 77-month high, that is, since July 2017. According to market participants, this significant uptick in FPI inflows can be attributed to the post-domestic policy outcome and the US Federal Reserve's dovish stance at the December policy. FPI inflows into debt stood at Rs 18,393 crore in December against Rs 14,106 crore in November, according to data on the National Securities Depository Limited.
The Ukraine conflict and Chinese activities in the Indo-Pacific region figured in last week's talks between Prime Minister Narendra Modi and French President Emmanuel Macron, and both sides have similar views over the two issues, sources said on Monday.
Prime Minister Narendra Modi on Sunday made a fresh push for reforms in global institutions, including the United Nations, asserting that the world's 'new realities' should be reflected in 'new global structure' as it is nature's law that those who don't change with times lose their relevance.
Two days ago, the Chinese foreign ministry following a meeting between NSA Ajit Doval and top Chinese diplomat Wang Yi in Johannesburg claimed that Xi and Modi had reached an 'important consensus' on stabilising bilateral ties at the interaction on the margins of the G20 Summit last November.
In the October-December quarter (Q3) of FY24, Hindalco reported flat consolidated revenue year-on-year (Y-o-Y) at Rs 52,800 crore. Copper revenue rose due to higher shipments and better Average Selling Price (ASP). Revenue from the aluminium vertical and Novelis declined 3 per cent and 6 per cent Y-o-Y, respectively.
