Several countries across the globe use VAR in their domestic club competitions after it was first introduced in Australia and the United States.
This includes an infrastructure push which may lead to the government spending more than its budgeted capital expenditure for 2020-21. There are also discussions on increasing the scope and quantum of direct cash transfers to the beneficiaries who need it the most.
Domestic tyre demand is seen to grow by 7-9 per cent over the next five years.
Indian Railways has managed to improve its freight volumes each year since the pandemic. However, its inability to add new industries and goods will pose a challenge for the national transporter in the wake of it setting an ambitious target of 45 per cent share in the national logistics by 2030. According to officials, the ministry of railways achieved 114 million tonnes (mt) of miscellaneous goods (classified as balance and other goods) in 2023-24.
Global rating agency Moody's on Monday raised India's growth forecast for 2024 calendar year to 6.8 per cent, from 6.1 per cent estimated earlier, on the back of 'stronger-than-expected' economic data of 2023 and fading global economic headwinds. India's real GDP expanded 8.4 per cent year-over-year in the fourth quarter of calendar year 2023, resulting in a 7.7 per cent growth for full-year 2023. Capital spending by the government and strong manufacturing activity have meaningfully contributed to the robust growth outcomes in 2023, Moody's Investors Service said.
With economic growth slowing to a six-year low, IMF Chief Economist Gita Gopinath says the government should undertake structural reforms such as bank clean-up and labour reforms to address the slowdown in domestic demand. She rooted for government policies focusing on managing a slowdown in domestic demand, and on boosting productivity growth and supporting employment creation in the medium term.
Crisil Ratings on Wednesday projected India's GDP growth at 6.8 per cent in the next fiscal and said the country will become an upper middle-income nation by 2031 with the economy doubling to $7 trillion. In its India Outlook report, Crisil said the Indian economy will take support from domestic structural reforms and cyclical levers and can retain -- perhaps even improve -- its growth prospects to become the third largest economy by 2031. "After a better-than-expected 7.6 per cent this fiscal, India's real GDP growth will likely moderate to 6.8 per cent in fiscal 2025," said the Crisil India Outlook report.
'Primary buyers are commercial taxi and fleet operators and small businessmen.' 'CNG prices have been remarkably stable unlike petrol.'
Existing optimism about the capital goods sector has been enhanced by the Assembly election results, which were favourable for the BJP. The prospects of political continuity led to renewed interest in the sector. There are demand-supply gaps, especially in power, and visibility of improved pricing and strong order flows, including from private enterprises.
India can sustain 8 per cent annual GDP growth and the conducive macroeconomic configuration may become a launching pad for a step-up in the country's growth trajectory, said an article on the 'State of Economy' in the central bank's March Bulletin published on Tuesday. Over the period 2021-24, gross domestic product (GDP) growth has averaged above 8 per cent. The global economy is losing steam, with growth slowing in some of the most resilient economies and high frequency indicators, pointing to further levelling in the period ahead, said the article authored by a team led by RBI Deputy Governor Michael Debabrata Patra.
Gold prices tumbled by Rs 3,350 to Rs 72,300 per 10 grams in the local market in New Delhi on Tuesday amid subdued demand by jewellers after the government announced the customs duty cut on the yellow metal and silver to 6 per cent.
'Investors should hold equity assets for 3 to 5 years.'
MHCV sales' grew by 9% to 5,033 units over September 2020 and 3% over October 2019, the first month registering growth over the previous year.
When the world was upended by the Covid-19 pandemic, metals got its shine back. In the last two years, infrastructure spending by major economies spurred demand, energy transition and intermittent supply disruptions fuelled a scorching rally in metals after a downturn during the first Covid wave. Now, Russia's war on Ukraine is ensuring that elevated prices stay the course.
'There has been far too much overconfidence about the size and composition of the Indian consumer economy,' notes Mihir S Sharma.
'Historically, the markets tend to perform well during election years as governments aim to increase spending and call attention to growth.'
The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
The National Security Strategy document should flag all major issues concerning security strategy and provide guidelines to concerned departments to work out suitable action plans. Since the global and regional geopolitical canvas is dynamic, the NSS document should be deliberated at length before formulation and should be reviewed periodically, recommends Commodore Venugopal Menon (retd).
Cash-strapped domestic airlines have asked the government to declare the civil aviation sector as 'core infrastructure' and rationalise taxes and duties on jet fuel, equipment, services and other items.
Re-instatement of 5% custom duty on crude imports will help.
The Budget should use the extra RBI surplus to better effect, suggests A K Bhattacharya.
A Rs 7,056 crore outer harbour project by VO Chidambaranar (VOC) Port in Tuticorin is garnering interest from domestic and global majors in the sector, such as Adani Ports and Special Economic Zone, Singapore's PSA International, Dutch major Van Oord, JM Baxi, and JSW, among others, according to sources close to the development. The project aims to capitalise on the newfound investor interest in the region, spurred by mega investments such as the Rs 16,000 crore electric vehicle manufacturing unit by Vietnamese major VinFast, the Indian Space Research Organisation's second spaceport in Tamil Nadu's Kulasekarapattinam, and Singapore's Sembcorp's Rs 36,238 crore investment in renewable energy.
Domestic commercial vehicle sales volume is expected to grow 9-11 per cent in FY24 driven by medium and heavy commercial vehicles and an estimated economic growth of around 6 per cent, rating agency CRISIL said on Monday. Besides, an increased allocation to infrastructure spending in the Union Budget for next fiscal year will support demand, it said. This would be the third consecutive year of growth in the domestic CV industry, according to CRISIL.
Corporate margins and profits in India remain vulnerable to changes in crude oil prices in the international market. Historical quarterly data from listed companies (excluding banks, finance and insurance, oil and gas, and power sectors) indicate an adverse correlation between corporate margins and crude oil prices.
The hospitality industry has seen plenty of interest since the catastrophic impact of the pandemic, which led to losses in FY21. The hotel industry market cap has more than tripled since 2019 on the combination of a strong earnings rebound and positive surprises, as well as three recent listings. The industry has good tailwinds. The anticipation is, demand for rooms will outrun supply for a few years despite capacity expansions.
Industry experts on Friday called upon the new BJP-led NDA government to focus on attracting investments in key sectors, especially the infra space, to revive growth and investor confidence.
A higher-than-expected consumer price inflation (CPI) print for March in the US has dashed hopes of an interest rate cut by the US Federal Reserve (US Fed) in June. Analysts now expect the US central bank to start cutting rates in September, provided inflation remains in check and oil prices remain supportive. The markets, analysts believe, partially factored in this possibility.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
Fundraising via the initial public offering (IPO) route by companies may touch Rs 1 trillion in financial year 2024-25 (FY25), according to a recent note by Pantomath Group - a mid-market investment bank. During the financial year 2023-24 (FY24), 76 companies tapped the markets through mainboard IPOs, Pantomath said, raising nearly Rs 62,862 crore. This is a 21 per cent rise compared to FY23, the note added.
Efficient land use, minimum congestion, a focus on dharamshalas (inns) and homestays, upgrading the infrastructure while retaining the historical and cultural character of the city are some of the highlights of the plan prepared by Kukreja, the managing principal of CP Kukreja Architects.
Indian airline industry is expecting to prune its net losses to Rs 3,000-5,000 crore in this fiscal from an estimated Rs 17,000-17,500 crore in FY2023 on the back of improved yields and stable cost environment, credit ratings agency ICRA said on Tuesday. At the same time, ICRA also estimated that domestic air passenger traffic will expand by 8-13 per cent each in FY2024 and FY2025. The rating agency has also maintained its stable outlook on the industry in view of healthy passenger traffic growth, improved yields and a stable cost environment.
Deteriorating ties between India and Canada could have a bearing on flows into the domestic capital markets. At present, Canada is the seventh largest country for foreign portfolio investor (FPI) flows into India. According to the National Securities Depository Ltd (NSDL), the assets under custody (AUC) of FPIs domiciled in Canada stood at nearly Rs 1.8 trillion ($21 billion) at the end of August. Almost 85 per cent of these investments are in listed equity, while the remaining in debt and hybrid instruments.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
India's main hubs are bursting at the seams.
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.
Prices may go up because of higher energy costs, caused by the rise in shipping charges, with commercial vessels taking a longer route to avoid the troubled Red Sea region, the finance ministry said on Monday. Iran-backed Houthi rebels of Yemen are repeatedly attacking ships in the Red Sea. While the global economy is grappling with challenges such as sticky inflation, sluggish growth, and mounting fiscal pressure, India's external sector could face "potential risks" due to the ongoing geopolitical tensions, according to the finance ministry's report on the review of the Indian economy.
Over the past three trading sessions, the stock of Cummins India has gained about nine per cent on strong January-March quarter (Q4) results and good near-term prospects. Its Q4 performance was led by a healthy 29 per cent revenue growth over the year ago quarter. This was largely on the back of a 33 per cent jump in domestic revenues while exports witnessed a growth of 17 per cent.
Any investment proposal in India has to be cleared by the Cabinet which leads to a vicious cycle of approvals and rejections, says
'We will see a lot of investments from the private sector.' 'As long as we are not impacted by some global events, I think we will be in a strong place.'
