Toyota Kirloskar Motor (TKM) has reported a consolidated net profit of Rs 4,787 crore for 2023-24 (FY24) - more than three times the earnings recorded the previous year. This growth can be attributed to robust demand for its vehicles, particularly hybrid models and cross-badged cars from the Toyota-Suzuki alliance.
Reserve Bank on Thursday retained the growth and inflation projection at 7.2 per cent and 4.5 per cent respectively for the current fiscal amid expectations of a normal monsoon. In its last bi-monthly monetary policy review in June, RBI had projected real GDP growth and retail inflation at the same.
Deputy Governor Michael Patra warned about the spillover effects of food inflation.
Populism gains momentum during election periods, and this trend is evident in at least four states: Telangana, Rajasthan, Madhya Pradesh and Chhattisgarh.
Looking under the hood, I see India on the terrible, but commonplace, road to prosperity failure, warns Rathin Roy.
Recognising job creation for the youth as the foremost challenge for the economy, Finance Minister Nirmala Sitharaman on Tuesday announced a comprehensive Prime Minister's package to facilitate the employment and skilling of 41 million youth with a central outlay of Rs 2 trillion over the next five-year period. The package will consist of five schemes and initiatives - three focused on jobs and two on skilling.
'We have essentially tried to set out an agenda for the next five years and it, in essence, represents the political commitment to that agenda.'
'Like every Budget, this time, too, there is chatter around tinkering with the long-term capital gains tax.' 'Investors may not want to jump into the markets until there is clarity on this front.'
The Election Commission on Sunday ordered the suspension of Telangana Director General of Police (DGP) Anjani Kumar for violation of the model code of conduct amid the counting of votes, sources said.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
rediffGURU Nayagam PP counsels students and aspiring professionals on how to pick the right courses and scale up in your career.
India's real estate market is poised for growth across categories - residential, commercial, and rental. Currently valued at Rs 24 trillion, or about $300 billion, it is projected to surge to $1.3 trillion by 2034, and then grow further to $5.17 trillion by 2047, indicates a report by the Confederation of Real Estate Developers Associations of India (Credai).
The next government in these states may find it tough to push economic growth through long-term reforms, which would be necessary.
The two-wheeler segment has shown signs of recovery in the first half (H1) of calendar year (CY) 2024, largely driven by improving performance in rural areas. According to the Federation of Automobile Dealers Associations, rural contribution to two-wheeler sales surged by 57-60 per cent in the April-June quarter of 2024-25, indicating a rising demand in these regions. Experts believe that this trend will continue, supported by a favourable monsoon season and government initiatives aimed at rural development.
Provisions in the bill, titled Karnataka Public Examination (Measures for Prevention of Corruption and Unfair Means in Recruitment) Bill, 2023, also include confiscation of property.
96 per cent is being collected through TDS, advance tax, self-assessment tax, and other receipts.
'In April, we saw a 10 per cent growth in our own volumes.'
The critical information in the first quarter (Q1) gross domestic product (GDP) data relates to the proximity of real and nominal GDP growth rates at 7.8 per cent and 8 per cent, respectively. The implicit price deflator (IPD)-based inflation is only 0.2 per cent. This phenomenon has repeated after fifteen quarters.
'Investors should not go for lump-sum investments in infrastructure funds at this point.' 'The SIP route is the best to avoid any major disappointment.'
'As long as economic growth remains steady, creating jobs and generating stable incomes, the rise in home loans should not create problems.' 'If the growth trajectory changes course over the medium term and interest rates rise along with inflation, the expanding trend in home loans may not sustain.'
The rising goods and services tax (GST) and personal income-tax collections may bolster the Narendra Modi government's ability to announce new schemes or enhance existing ones.
The railways has spent more than Rs 1 lakh crore on safety measures between 2017-2018 and 2021-22 with a steady growth in expenditure on track renewal, according to an official document.
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.
'The private sector will look to the budget to check whether there are any headwinds or tailwinds.'
Thirty four people belonging to Kallakurichi district have died following consumption of 'methanol mixed arrack', Tamil Nadu Chief Minister M K Stalin said on Thursday.
'We are cautious only on sub-sectors that have seen massive melt-up during the past six months.'
Profits of India's top listed companies have been growing at a faster pace than those of their American peers, but when it comes to revenue growth, the order has reversed recently. The combined net profit of the S&P 500 companies was up 14.1 per cent year-on-year (Y-o-Y) during the trailing 12 months (TTM) ended December 2023, as against 17.4 per cent profit growth logged by the BSE 500 companies in the same period. This is the second consecutive year of faster profit growth for the BSE 500 companies.
Of the top four companies, which collectively hold more than half of India's market share, two have pitted Shah Rukh Khan and Sunny Deol against each other.
India's defence sector presents an ordering opportunity worth $138 billion between fiscal years 2023-24 (FY24) and FY32, said a latest note by Nomura, which has initiated coverage on two defence-related players - Hindustan Aeronautics (HAL) and Bharat Electronics (BEL) - with a 'buy' rating. The research and broking house sees an upside potential of 28 per cent and 32 per cent, respectively in these two stocks from the current levels.
A careful reading of the national income accounts suggests that after a strong recovery from the pandemic, there has been a significant ebbing of dynamism over the last three quarters to more modest levels recently, note Arvind Subramanian and Josh Felman.
Given the gap between budgetary allocation and use, a parliamentary standing committee has asked the Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy (Ayush) to take steps to prevent underutilisation of funds under the National Ayush Mission (NAM) scheme. According to the data, the ministry was allocated Rs 1,200 crore for the mission in the Budgetary Estimate (BE) for FY24. The Revised Estimate (RE) for the year fell to Rs 815 crore, of which Rs 589 crore, or 74 per cent, has been spent till January.
As political winds stir in these states, it's prudent to assess their economic landscapes.
'Auto, pharma, and industrials have delivered well in the recent quarter, while businesses like quick-service restaurants, consumer staples, and durables have underperformed in volume growth.'
From its lows this month, the stock of Sona BLW Precision Forgings is up 10 per cent on better-than-expected results. The stock rose by 4 per cent in the trading session on Tuesday after Japan's Nikkei Group said the Indian automotive component major has topped its rankings in terms of competitive advantage. The rankings are based on sales, profit margin, capital expenditure, research and development, and market capitalisation.
'Interim Budget has ignited the entrepreneurial spirit.'
Interrupting a two-month streak of decline, outward foreign direct investment (FDI) rose sequentially to $1.85 billion in July over $1.07 billion in June, an increase of 73 per cent. However, it was lower than the $2.18 billion in July last year, according to the Reserve Bank of India data. Outbound FDI, expressed as financial commitment, has three components - equity, loans, and guarantees.
The government must expedite its plan for asset sale and privatisation, both of which hardly got any mention in the Budget speech, points out A K Bhattacharya.
Chief Economic Advisor V Anantha Nageswaran on Thursday said the economy is expected to grow at 6.5 per cent in the current fiscal notwithstanding deficient rains in August. India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period. India's economy in Q1 grew at the fastest pace in a year, on the shoulders of a boost in capital expenditure both at central and state levels, along with stronger consumption demand, especially in rural areas, and improved performance in the services sector, he said.
India, along with Southeast Asian countries such as Indonesia, is expected to sustain growth in the medium-term in Asia region, replacing China as the key growth driver, Morgan Stanley and Nomura said in two separate reports released on Monday. While Morgan Stanley projected a 6.2 per cent gross domestic product (GDP) growth forecast for India in FY24, Nomura estimated the Indian economy to grow at 5.9 per cent in 2023. "Even with a slowing China, we expect GDP growth in Asia to sustainably outperform other emerging markets and the US. India and Southeast Asia are set to be the fastest-growing economies this decade.
