During the first quarter ended June, gross tax collections fell 31 per cent driven down by a massive 76 per cent plunge in advance tax mop-up, as the country was in a full lockdown due to the pandemic.
The optic fibre cable infra was with Jio Digital Fibre and the tower infra with Reliance Jio Infratel
Though Kishore Biyani is selling stakes in group companies to pay off debt, a significant share price crash since January this year is making his task difficult.
The nationwide implementation will increase churn of customers, shoot-up the customer acquisition and retention costs, and lower the average revenue per user as competitive tariff plans will have to be offered, the agency said in a note.
Lower revenue collection puts upward pressure on government borrowing, ensuring that it deviates from the glided path of debt reduction
Among food articles, vegetable prices surged by 69.69 per cent mainly on account of onion, which witnessed 455.83 per cent jump in prices, followed by potato at 44.97 per cent.
Beside manufacturing, deceleration was also witnessed in sectors like agriculture, construction and electricity, gas and water supply.
Index of industrial production data had also shown that the sector grew at 3.1 per cent after contracting in the previous quarters.
The states that witnessed high CPI-based inflation rates were Lakshadweep, Tripura, Odisha, Uttar Pradesh, Kerala, Madhya Pradesh, Puducherry, Tamil Nadu, Rajasthan, Manipur and Mizoram.
Reduction in fuel price was supposed to bring back good luck for Indian airlines. But with the global spread of coronavirus, airlines are being forced to rejig their network, cut flights, and delay launches.
On Tuesday, Petroleum Minister Dharmendra Pradhan met Russian oil giant Rosneft's chief executive officer Igor Sechin and discussed raising crude imports from that country, in addition to talks about going for more acquisitions.
Depreciating the rupee against the dollar to boost economic growth has fiscal constraints and monetary limitations
The economic growth is likely to moderate to 6.1 per cent, slowest in over seven quarters, from 6.6 per cent last year same period.
In first 9 months of FY18, scooter sales grew by 18.5%, the number may jump further as more women join workforce
The retail inflation, which is factored in by the RBI to arrive at its monetary policy, has been on decline since last month. The previous low was 5.54 per cent in November 2019. The government has asked the RBI to restrict the inflation around 4 per cent, with a margin of 2 per cent on the either side.
Debt-ridden Reliance Capital ready to cede control in home finance - Blackstone, Carlyle, Brookfield, and Piramal group are in talks to buy a large stake in Reliance Home Finance.
The root of the problem, according to industry officials, is the sudden stoppage of lines of credit to tea plantation companies.
Currently, the retail inflation is well below the RBI's comfort level. The government has asked the central bank to keep inflation in the range of 4 per cent.
Experts say while the increasing demand for a ban on Chinese goods might make for good optics, the reality is that India is still heavily dependent on that country in a wide range of industries like electronics, mobile devices, auto, pharma, telecom equipment, and fertilisers.
A number of public sector banks will have to stock up on core capital, if the Reserve Bank of India decides to ask banks to leave out hybrid instruments while computing Tier-I capital adequacy, as indicated by RBI last week.
Moody's listed six agenda on the list of pending reforms -- land acquisition Bill, labour law reforms, significant infrastructure investment, tangible benefit from Make in India initiative, tax administration and PSU bank reforms
The loans securitised between January 2004 and December 2006 have shown progressively lower collection efficiency and hence, higher delinquency levels. In fact, among all the years, the pools securitised in 2006 have shown the weakest performance, rating agency ICRA said.
There is little doubt that the global economic crisis has worsened Indias growth prospects, but the slowdown began long before the US financial meltdown began.
PMAY-Gramin, which was launched in November 2016, aims to construct 10 million homes by March 31, 2019, with private sector and state government participation
If this turns into reality, India's gross domestic product (GDP) growth will be the lowest since 2012-13, which could severely hit job creation and income growth in the near term.
The ripples from November 8 may be seen in next year's state budgets.
Commercial vehicles witnessed a fall of 15-17% in November as buyers struggled to meet margin money requirements, reports Swaraj Baggonkar.
With liquidity crunch hitting operations, many finance companies have put the brakes on sanctions in the third quarter in the aftermath of the IL&FS crisis.
Average overall sales which used to be around 8,000 units a year ago has dropped to 7,000-7,500 units in a month. A lot of government projects have been announced but these are yet to translate to boost CV sales.
In a rating watch statement, ICRA said that it has re-affirmed the LAAA rating with a stable outlook on ICICI Bank's subordinated debt programme and long-term bonds programme, which indicate highest credit quality and lowest credit risk for the two instruments. Besides, the ratings for the debts taken over by ICICI Bank from the erstwhile ICICI Limited have also been retained at LAAA with stable outlook and MAAA, respectively.
The industry expects Iran to purchase at least 1 million tonnes this financial year
The overall volume at India's top four M&HCV makers - Tata Motors, Ashok Leyland, Volvo Eicher, and Mahindra & Mahindra - fell 59.5 per cent to 31,067 units during the month.
Bhogapuram international airport, Ramayapatnam and Bandar ports, the Muktyala lift irrigation scheme and a bridge across the Krishna river are some of the projects likely to be hit.
The biggest contribution of IIT is the brand that they have created at the global level. The IIT brand commands respect for capability and excellence of a very high order in most academic institutions, corporate circles across a wide range of industries, and even government.
A day after Manmohan Singh won the trust vote, sans Left support, rating agencies Moody's Investor Services and Icra said the insurance sector will get a huge boost if the government paves the way for greater foreign participation in Indian companies.
During the fourth quarter (January-March), banks step up the activity to meet annual targets. This leads to a race to raise funds from markets often by jacking up deposit rates. This time around, the market has not seen such trend yet.
Banks will need more funds, as they have to provide more capital.
Financial planners advise against putting capital to work by anticipating what might go up or down.
Despite Indian economy recovering, there is very little room for loan growth, say bankers.
Family-owned companies like those of Tatas, Birlas and Ambanis are dominating the country's corporate landscape, but still face challenges regarding corporate governance norms such as appointment of successors and transparency in functioning, rating agency Moody's said. However, these companies have responded well to opportunities available in the fast-growing and liberalizing economy, according to a joint survey by Moody's Investors Service and its domestic associate.
