From the seas to the stars, this partnership will now be deepened by the defining role of technology, the statement said.
Engineering giant Larsen & Toubro (L&T) handed out a pay cheque of Rs 61.27 crore to its chief executive officer (CEO) and managing director (MD) SN Subrahmanyan in the last financial year (FY22), which is a near 115 per cent hike over FY21, as executive compensation at India Inc comes under sharp focus after two years of Covid-19. In fact, the total compensation of L&T's executive directors (including Subrahmanyan) in FY22 was 120 to 670 times the median remuneration of the company's employees, data from its FY22 annual report shows. This points to sharp hikes that the top management saw in their remuneration during the period, experts in human resources said. In FY21, L&T's executive compensation was 56 to 337 times the median remuneration of company employees.
After launching expressway projects worth almost Rs 1 trillion, the Uttar Pradesh government is now betting big on the aviation sector to propel the state's economic growth. Air travel, comprising both business and leisure, is expected to give a fillip to the socioeconomic landscape by attracting fresh investment. It would also ramp up infrastructure and create jobs.
India should plan its strategies on the assumption that the rightward swing will stay and the West will retreat into an economic fortress, says Nitin Desai.
'The semiconductor supply is constantly improving, with visible green-shoots in the situation as compared to earlier part of last year'
First Rajya Sabha approved the Rs 45 lakh-crore spending proposed in the Budget, followed by the nod to the Finance Bill that contains tax proposals.
The government will seek Parliament's approval for Rs 37,000-crore additional spending on infrastructure development in the second batch of supplementary demands for grant. Earlier this month, Finance Minister Nirmala Sitharaman had announced additional budget of Rs 25,000 crore as capital expenditure (capex) on roads, defence, water supply, urban development and domestically produced capital equipment. Besides, the central government approved issuance of a special interest-free 50-year loan to states of Rs 12,000 crore for infrastructure development.
Traders blame demonetisation for subdued demand in retail segment
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
The real requirement for the finance minister's explanatory speech is to explain the measures taken in the Budget to influence inflation and growth not just through the announcement of a deficit goal, but more broadly through the impact on money supply, consumer demand, foreign trade and investment, explains Nitin Desai.
From market leader HP and premium player Apple to China's Lenovo and Asus, all major brands in the market are witnessing rapid surge in the demand for notebooks.
The Union Budget 2016-17 has cheered the NBFC sector
Marriott International is looking to make deeper inroads into leisure destinations as it seeks to make the most of domestic travellers' pent-up demand, said the company's top official. The world's largest hotel operator will add seven new properties in India in 2021, five of which will be in leisure locations - two in Goa, and one each in Mahabaleshwar, Thiruvananthapuram, and Dehradun.
Samvat 2072: Auto sector could see faster recovery
India, which appears to have been pushed back to being the world's sixth biggest economy in 2020, will again overtake the UK to become the fifth largest in 2025 and race to the third spot by 2030, a think tank said on Saturday. India had overtaken the UK in 2019 to become the fifth largest economy in the world but has been relegated to 6th spot in 2020. "India has been knocked off course somewhat through the impact of the pandemic. "As a result, after overtaking the UK in 2019, the UK overtakes India again in this year's forecasts and stays ahead till 2024 before India takes over again," the Centre for Economics and Business Research (CEBR) said in an annual report published on Saturday. The UK appears to have overtaken India again during 2020 as a result of the weakness of the rupee, it said.
'Sector funds like IT funds should be included only in the satellite portfolio.' 'Limit your exposure to IT sector funds to around 5-10 per cent of your equity portfolio.'
With this move, the option to get Delhi government's power subsidy will no longer be available by default and every year, power consumers will be given an option to continue with power subsidy or not.
The mission has proposed pilot projects for replacing fossil fuels and fossil fuel-based feedstocks with Green Hydrogen and its derivatives.
The external environment has worsened further. While the Finnish economy entered into a recession, Swedish economic growth also dipped. The Finnish gross domestic product (GDP) dropped 0.6 per cent in October-December, 2022. It was the second quarter of negative growth, which is a technical definition of recession.
'You may see some movement indicating a simpler tax regime with less exemptions but with fewer tax rates making life simpler for taxpayers.'
For India Inc, latest GDP figures signal a turnaround.
The Nitish Kumar government has worked hard to help change the perception about Bihar by improving law and order situation and usher in development on several fronts, Assocham Secretary General D S Rawat told reporters.
Modi's government plans to support domestic demand
The Reserve Bank of India has on Wednesday lifted the ban on new customer acquisition by American Express which was imposed with effect from May 2021 due to non-compliance with local data storage norms. "In view of the satisfactory compliance demonstrated by American Express Banking Corp. with the Reserve Bank of India (RBI) circular dated April 6, 2018, on Storage of Payment System Data, the restrictions imposed, vide order dated April 23, 2021, on onboarding of new domestic customers have been lifted with immediate effect," RBI said. Similar bans were imposed on Diners Club International and Mastercard previously.
Encouragingly, the recovery also appears to be becoming broad-based
The correction seen in the stock markets thus far is insufficient and there are significant downside risks, given the way macroeconomic data is shaping up, a Nomura equity strategist said on Thursday. "The markets are trying to look through the current stress we see in the macros. There are potential risks to the market. "Our estimates assume no major impact on growth and earnings. "The market should have been at least 5 per cent lower than it is now.
Xi does not want to risk any political or economic crisis complicating his bid to remain in office, observes Ambassador Shyam Saran, the former foreign secretary.
Indian companies are expecting generous tax incentives from the Union Budget that will help them invest more in building capacities in the coming years. While the productivity-linked incentives (PLIs) are a good start to spur local manufacturing, the government should also take steps to boost consumer demand, which is not showing encouraging signs, say chief executive officers (CEOs) of India Inc. Statistics released by the Reserve Bank of India (RBI) shows that Indian banks had sanctioned loans worth Rs 75,558 crore in 220 new projects - a record low - in the pandemic-hit financial year ending March 2021. This is not showing any signs of a significant pick up in the last nine months of the ongoing financial year.
L&T is the preferred pick, but given the opportunities in the power T&D space analysts are also positive on KEC, ABB and Kalpataru
The commerce ministry is proposing a host of direct and indirect incentives such as deferral of import duties and exemption from export taxes to revamp Special Economic Zones through a new legislation, an official said. In the Union Budget this year, the government proposed to replace the existing law governing Special Economic Zones (SEZs) with a new legislation to enable states to become partners in 'Development of Enterprise and Service Hubs' (DESH). The official said the commerce ministry has sought views of different ministries, including finance, on the new bill.
The Indian office real estate market, which had recovered significantly in early 2022, began to slow down in the latter half due to macroeconomic problems in the developed world. Rental yields are likely to be stable at best in FY24.
Onions had the highest inflation rate among all major commodities.
Logistic players have seen a sharp correction at the bourses over the past six months as intense competition from new-age-tech startups, higher freight rates, and weak macros dented listed players' growth outlook. Analysts warn that the emergence of tech-based startups could weigh on organised players' profit-pool, and can potentially erode their market share. Thus, a stock-specific strategy would be prudent at this juncture with focus on companies that are rapidly innovating and investing in technology.
Jaishankar noted that it would be difficult to say what will happen in the future as there are a lot of "contradictions and frictions" out there today.
A bench headed by Chief Justice U U Lalit is scheduled to hear the petitions challenging the validity of the CAA whose enactment had triggered widespread protests across the country.
India may be trying to become a crude oil refining hub but the country's apex planning body has raised doubts on the feasibility of adding more refining capacity.
The report cautioned that low capacity utilisation and stressed balance sheets of banks and businesses will prevent a strong investment revival in the short term.
'If private capex has to kick in, there should at least be 2-3 years of visibility.'
It emphasised that agricultural infrastructure needs considerable investments and hence Section 80IA benefits must be extended to all such investments like IT infrastructure, computers, VSAT, solar panels, water harvesting facilities, storage etc.
The two-wheeler sector has been underperforming its peers on the volumes front for over five quarters now. Even in the March quarter, Bajaj Auto and Hero MotoCorp posted a 17-24 per cent YoY decline in volumes, the sharpest in the listed auto universe. The ongoing impact of frequent price hikes, all-time high fuel prices, and muted rural sentiment has led to the lacklustre showing by two-wheeler makers. What has aggravated the situation for two-wheeler companies, which get almost all their sales from the internal combustion engine or ICE-based units, is the traction for electric two-wheelers (EV).
