The ministry of defence has set a goal of $26 billion, including export of $7 billion for the industry by 2025-26 through its Defence Production Policy 2018.
India's GDP is estimated to contract by a record 7.7 per cent during 2020-21 as the COVID-19 pandemic severely hit the key manufacturing and services segments, as per government projections released on Thursday. Amid overall decline in economic activities, some respite was provided by the agriculture sector and utility services like power and gas supply, which have been projected to post positive growth during the current fiscal ending March 2021.
The most common complaint of financial consumers is cumbersome processes, complicated products, usurious charges, and mis-selling of products, which finally don't deliver what is promised or as expect, notes Debashis Basu.
'The market won't wait for earnings to recover.'
Dissenting states including Chhattisgarh and Kerala, have made it clear they are in no mood to relent. They want the Centre to borrow the entire Rs 2.35 trillion this fiscal citing bleak fiscal position.
'India's march towards being a $5 trillion economy continues, notwithstanding momentary setbacks.' 'India is at an inflexion point and most economists believe this growth super-cycle will extend for over four decades.'
'The move towards fiscal consolidation had to be diluted because of the relief to farmers as the government wants to appease the voters.'
Experts say a large part of the expenditure in April was spent on heads such as creating infrastructure for testing capacity and procuring testing kits, among other things.
Iron ore deposits in the Donimali mine are estimated at 143 million tonnes and worth around Rs 40,000 crore. NMDC had leased the mine in 1968 for a period of 50 years. The lease expired on November 3, 2018.
The government clarified that the majority of industrial establishments had reported nil production, and cautioned that the numbers should not be compared with those of previous months. "It is not appropriate to compare the IIP of April 2020 with that of earlier months, and users may like to observe the changes in the IIP in the following months," said the ministry of statistics & programme implementation.
'I cannot cope with the demand. It will take us a couple of months to ramp up production.'
EV players suggest a reduction in the goods and services tax on batteries from 18 to 5 per cent as it would help push demand.
Budget-makers in North Block are looking to maintain this fiscal status quo, in spite of tax revenues nowhere close to where the government wants and in spite of possible higher expenditure commitments.
'The economy is expected to bounce back and things are expected to recover faster than what we previously thought.'
For non-banks, the IL&FS crisis was nothing short of India's Lehman moment, which has for a foreseeable future reset the sector on multiple grounds.
The combined weight of IT companies in the benchmark Nifty 50 index is now at a five-year high of 15 per cent as these companies continue to outperform the broader market.
Robots are now being used increasingly in the integrated-shell assembly line and robotic bogie-fabrication line. The unit may soon see its phase-II expansion, which will increase its capacity to 2,000 coaches.
Sebi's move to reduce time period required between subsequent QIPs to two weeks would help companies raise capital at regular intervals and time their share sale better.
'The market recovery is fragile,' warns Raamdeo Agrawal, co-founder and joint managing director, Motilal Oswal Financial Services.
Experts say Biyani will now become a contract manufacturer of fashion and FMCG products, with the Reliance group being one of his customers.
Its trajectory in telecom is well known but now it is pushing for a similar leap into the ranks of the top players in its other businesses: media and entertainment, e-commerce, a series of online businesses ranging from health to education, and retail.
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