The government is planning to soon file the final papers for LIC IPO with market regulator Sebi, which will provide details about the price band, discount for policyholders and retail buyers, and the actual number of shares to be put on the block, an official said. The government is presently in the wait-and-watch mode because of the market volatility induced by the Russia-Ukraine war and will decide on the timing of the initial public offering (IPO) of Life Insurance Corporation (LIC). "We have got the approval of the DRHP and the next step would be to file the RHP, which will give details of the price band and the actual number of shares.
India is poised to be the fastest-growing major economy in the world and an engine of global growth despite global headwinds, says leading industrialist and Aditya Birla Group Chairman Kumar Mangalam Birla. The economic activity in India has witnessed a sharp recovery to pre-pandemic levels on the back of a rapid and widespread rollout of the vaccination programme, Birla said in the latest annual report of UltraTech Cement Ltd. "A strong digital ecosystem, fiscal and monetary policy and various government schemes helped small and medium enterprises and the worst affected sections of the population to survive while reviving demand and bringing the economy back on track," said Birla while addressing UltraTech's shareholders.
This comes at a time when the global recovery remains fragile and is expected to slow later this year as the impact of the fiscal stimulus measures wanes.
The Board of Control for Cricket in India (BCCI) has pegged the base price for the combined IPL media rights at Rs 32,890 crore, nearly double the Rs 16,347 that Star Disney paid five years ago. Experts say that at these levels, there does not seem to be any profit-and-loss logic at play. It is more about what premium broadcasting companies are ready to spend for market share dominance. They point out that due to competition, they expect the final price to hit Rs 40,000-50,000 crore.
The Indian economy is likely to slow down a little to 7.6 per cent in the fiscal year 2006 and 7.8 per cent in 2007 as consumption and investment may get affected due to higher inflation, Asian Development Bank said on Thursday.
The central government is likely to exceed the budgeted tax collection target of Rs 22.2 trillion for the current fiscal year, led by better indirect tax mop-up, compliance measures, and recovery in most sectors following the second wave of the Covid pandemic. Personal income and corporate tax collections (net of refunds) grew 74 per cent to Rs 5.70 trillion in the first half of the current financial year, driven mainly by advance tax and TDS payments. The target for the current fiscal year is Rs 11.08 trillion; higher taxes are paid usually towards the end of a fiscal year.
Adrian Luna's stunning goal was unable to earn Kerala Blasters victory as FC Goa fought back in a thrilling Indian Super League match which ended 2-2, at the Tilak Maidan Stadium, in Vasco, Goa, on Sunday.
Here are the key numbers to watch out for in the Budget for 2022-23, which is widely expected to boost spending towards policies that create jobs, boost manufacturing, helping rural and agri-economy and infrastructure creation. Sitharaman, who had in her first budget in 2019 replaced leather briefcase -- which had been in use for decades for carrying budget documents -- with a traditional red cloth 'bahi-khata', has spurt in tax collections to her aid in the budget that is expected to a spend-all budget.
Sandwiched between demonetisation, GST and other smaller policy changes, Gross Value Added or GVA may be a more reliable measure of economic activity over the next few quarters.
Is it a divine, sacrosanct university, a holy cow, prohibiting human intervention?
This is the fourth time in three decades that Aamir Khan and Akshay Kumar have had movie releases on the same day.
Ishtiaq Ahmed Khan, a businessman, has donated the land for the 'Virat Ramayana Temple'.
China's GDP growth this year is expected to be around 8.5 per cent, down from 9.2 per cent in 2011, as the economy slowed down due to declining exports and global downturn, the Asian Development Bank (ADB) said in its annual report.
One hundred and forty nine new individuals joined the rich list club of 1,103 Indians across 122 cities who cumulatively accumulated a wealth of Rs 100 trillion. Bengaluru -based Kaivalya Vohra, 19, of grocery delivery application Zepto is the youngest self-made and the youngest rich individual, according to IIFL Wealth Hurun India Rich List 2022. The report found 1,103 Indians with a networth of Rs 1,000 crore each - an increase of 62 per cent over five years. There are 221 billionaires (Rs 100 crore networth) in India on the 2022 list - down 16 compared with last year, while 13 people born in the 1990s made it to the list, all self-made.
Despite the possibility of the economy bottoming out, the investment cycle could remain weak for another couple of years and earnings downgrades should continue.
Pakistan produced a fine bowling performance to restrict England to 248 for six despite a battling 71 from Paul Collingwood on the first day of the third Test on Tuesday.
Employees of the electricity department has launched a three-day strike in protest against privatisation.
Come December, India may have to re-evaluate purchases of Russian oil if a price cap on crude oil proposed by the US and the European Union (EU) comes into effect. That impacts nearly a quarter of India's oil purchases that come at a discount, helping limit marketing losses for India's state refiners and enabling New Delhi to manage inflation by freezing pump prices of motor fuels. In September, India imported 1 million barrels a day or 24 per cent of its overall imports from Russia, which became the biggest supplier of oil to India.
India, Pakistan, Sri Lanka, Afghanistan and Bangladesh can beat each other on their day
Reserve Bank-sponsored professional forecasters on Monday scaled down India's growth projection to 4.8 per cent for the current fiscal from 5.7 per cent estimated earlier.
'When I crossed that point where I had the accident, I felt light and that was a very physical experience. I felt something leave me.' Shyam G Menon chronicles the voyages of that incredible Indian sailor, Abhilash Tomy.
The Securities and Exchange Board of India (Sebi) has cleared the draft red herring prospectus (DRHP) of the state-owned Life Insurance Corporation of India (LIC). According to investment banking sources, the so-called final observations were issued by the market regulator on Tuesday evening. Following the market regulator's nod to the IPO papers, the insurer can launch its share sale. However, LIC may not launch its IPO immediately given the current volatile market conditions.
Forecasting 7.2 per cent GDP growth for the current fiscal, industry chamber CII on Tuesday stressed on sustainable development for alleviating poverty and employment generation in the country.
Indian software and services export is estimated to have touched $17.2 billion in 2004-05, posting a 34 per cent growth in both rupee and dollar terms.
The Indian economy is likely to grow at 6.6 per cent in the current fiscal on the back of new investment proposals and additional capacity building by companies, economic think-tank CMIE said in a report.
A Reserve Bank-authorised survey on Monday lowered the country's economic growth rate projection to 5.7 per cent for the current fiscal, down from 6 per cent estimated earlier.
With all-round upturn in economic cycle except in agriculture, Economic think tank NCAER has forecast India's GDP growth rate at 6.5 to 6.7 per cent for this fiscal.
Lower agricultural performance in the current financial year is likely to pull the economic growth down to 6.9 per cent from 8.5 per cent in the last financial year.
Indian economy to grow at 5.5 per cent in near term.
The overall gross domestic product growth for 2004-05 is expected to be 6-6.5 per cent, taking into account risks of high and uncertain oil prices and changes in international liquidity environment, says RBI's report on currency and finance 2003-04.
Credit rating agency ICRA on Tuesday lowered economic growth projection for the Indian economy to 6.3 per cent this fiscal from its earlier forecast of 6.5-6.7 per cent due to an expected fall in farm output. \n
The economic think-tank National Council of Applied Economic Research on Thursday revised downward marginally India's economic growth to 6.62 per cent due to deceleration in farm output in 2004 even as fiscal deficit was slated to shrink to 4.52 per
If there was one event that made the month of August stand out, it was a strengthening of the dollar index to levels last seen only 20 years ago, as the Federal Reserve dispelled all doubts about its intention to continue raising interest rates. Predictably, most currencies suffered against the US unit, with the bulk of the losers belonging to the emerging markets pack. Amid the volatility, the rupee, however, has displayed significant resilience and fared much better than most of its peer currencies.
At a time when Apple delivered its flagship line of new products on schedule despite battling a year of supply-chain turmoil, India could account for at least 12 per cent of the free-on-board (FoB) value of Apple Inc's iPhones manufactured by its vendors globally by 2025-26 (FY26). The number represents a significant shift for the Cupertino-based company's over-dependence on China, where 95 per cent of its phones are still being made. India's growing importance can be seen from the fact that in 2021-22 (FY22) - the first year of the production-linked incentive (PLI) scheme (the scheme was extended by a year due to the pandemic) - the FoB value of iPhones made in the country was $1.75 billion, translating into less than 2 per cent of the global value.
The Centre for Monitoring Indian Economy on Thursday revised growth forecast for the country's economic growth upwards to 6.2 per cent in 2004-05 as against earlier estimate of six per cent.
While presenting the Union Budget to Parliament earlier this month, Finance Minister Nirmalal Sitharaman had raised fiscal deficit target to 3.8 per cent of the GDP from 3.3 per cent pegged earlier for 2019-20 due to revenue shortage.
For every rupee in the government coffer, 70 paise will come from direct and indirect taxes, while the government will spend 23 paise towards the states' share of taxes and duties.
The 19-year-old Bhaker, ranked No. 2, was pegged back by a technical glitch involving her gun after an impressive start saw her take one of the places in the top eight.
India's politicians need to do a better job of managing the economy: Inflation control, productivity improvement, etc, asserts T N Ninan.
