The 2027 Census may cost a bit more due to the proposed use of apps and smartphones by the 3.4 million enumerators who will collect comprehensive data much more efficiently than in earlier times.
On the back of robust tax collection, the ratio of direct taxes to gross domestic product (GDP) this financial year is likely to be the highest in this century so far. This, along with strong goods and services tax (GST) collection, may drive up receipts from central taxes as a proportion of GDP to the highest level or close to the highest since 2008-09 despite subdued excise and customs duty receipts. This will be due also to lower nominal GDP projected in the first advance estimates for 2023-24.
The first-quarter performance of top IT services players, as well as mid-cap firms, has been subdued, reflecting macro uncertainties. The numbers of the top four firms show several misses, hinting at difficult times ahead. One mismatch is the total contract value (TCV) signed by the firms and the revenue growth registered.
The average time lag between the date of occurrence of a fraud and its detection is 23 months; for large frauds (Rs 100 crore and above), it was 57 months.
HDFC and HDFC Bank's merger - touted as India's biggest-ever corporate merger - pumped up shares of the two entities on the bourses. Shares of Housing Finance Development Corporation (HDFC) skyrocketed 9 per cent while those of HDFC Bank zoomed 10 per cent. In comparison, the benchmark S&P BSESensex and the Nifty50 indices settled 2.2 per cent higher on Monday.
Its production declined for the third consecutive year in financial year 2020-21 (FY21) to an 11-year low, while sales volume contracted for the second year to the lowest since FY15. The company manufactured around 1.08 million vehicles last fiscal, a decline from 1.17 million the previous year, and a steeper fall from its all-time high tally of 1.62 million reported in FY18.
'From the time India liberalised in the 1990s, the government has policies are for facilitating the growth of the manufacturing sector.' 'The policies were put in the hope that growth of the manufacturing sector will lead to increased employment,' points out Chidambaran G Iyer, Senior Fellow, Pahle India Foundation.
In an action replay after seven years, Mukesh Ambani-promoted Reliance Industries, India's largest company by market capitalisation, announced on Friday, plans to merge its group firm Reliance Petroleum with itself. Both RIL and RPL informed the Bombay Stock Exchange on Friday that they would hold separate board meetings on March 2 to consider the merger.
India's savings rate which has shown a sharp jump in the last few years is expected to decline to 34 per cent in FY'09, the Centre for Monitoring Indian Economy said in its monthly review.
Whirlpool of India Ltd has posted a net profit of Rs 86.50 million for the year ended December 31, 2002 as compared to a net profit of Rs 91.20 million for the year ended December 31, 2001.
TCS, based on its annualised 9mFY04 earnings, has an EPS of Rs 31.9.
High FDI inflows have big benefits for any economy. India thus needs to attract more investment.
Sterling Biotech Ltd has posted a net profit of Rs 216.29 million for the year ended December 31, 2002 as compared to a net profit of Rs 203.21 million for the year ended December 31, 2001.
Pfizer Ltd has posted a consolidated net profit of Rs 759.40 million for the year ended November 30, 2002 where as the net profit was at Rs 474.90 million for the year ended November 30, 2001.
Hindustan Lever Ltd has posted a net profit of Rs 4665.10 million for the quarter ended December 31, 2002 as compared to Rs 4363.80 million for the quarter ended December 31, 2001.
FAG Bearings India Ltd has posted a net profit of Rs 57.90 million for the quarter ended December 31, 2002 as compared to Rs 19.70 million for the quarter ended December 31, 2001.
Deutsche Bank says rising debtor days and low customer advances imply significant net working capital requirement.
Analysts welcomed the better Q2 GDP readings of 4.8 per cent, which came in above their expectations, but warned that the planned expenditure cuts by the government will be the key thing to watch out going forward.
For top IT services firms, revenue growth in FY15 was the slowest since the Lehman crisis
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