Capital expenditure by private companies halved in FY13 from that in FY08; households put more money into gold, houses.
India's latest GDP numbers do not signal robust economic growth in near term.
Search is on for reliable indicators of underlying activity.
The economy is likely to log in a tepid 6 per cent growth next fiscal, in line with the consensus estimates, rating agency Crisil said on Thursday. The agency also sees the economy averaging a growth rate of 6.8 per cent over the next five fiscals. Crisil further said it expects the corporate revenue to log in double-digit rise again next fiscal.
The biggest spender was Tata Motors, with Rs 4,224.6 crore assigned under the R&D head.
'India has the potential to reduce its trade deficit with China by $8.4 billion in FY21.'
The Union government could target a fiscal deficit of 5.8-6 per cent of nominal GDP for 2023-24, and it should continue its capital expenditure push and look to simplify the personal income tax regime, economists recommended Finance Minister Nirmala Sitharaman and her team during their pre-Budget interaction on Monday. Starting last week, Sitharaman had eight pre-Budget consultations this time. More than 110 invitees representing seven stakeholder groups participated in these meetings, the finance ministry said in a statement. The stakeholder groups included representatives and experts from agriculture and agro-processing industry; industry, infrastructure & climate change; financial sector and capital markets; services and trade; social sector; trade unions and labour organisations; and economists.
'Government's focus should be on the expenditure side in this Budget, not so much on the taxation side.'
Is the worst over for Indian banks? The past two years saw them ride on treasury trades as deposits soared and credit growth dipped sharply. Gross and net non-performing assets (NPAs) moved south, and the provision coverage ratio (PCR), capital buffers, and profitability indicators are back at pre-pandemic levels. So, what's the plot ahead?
'If you are going to have only a handful of telecom players on whom the entire dream of Digital India rests, it's important they are financially sustainable.'
The country may become militarily impressive, pile on GDP and the durbar of the ruling party may fill with the wealthy indebted to the rulers for their riches. But the spontaneous camaraderie of a free people will diminish and with it, our shared ownership of the country, warns Shyam G Menon.
According to the global business information, knowledge and insight provider, India is likely to achieve an average growth rate of around 7.5 per cent during FY15-FY20.
Thirteen companies have joined the Rs 1-trillion-plus market capitalisation club this year, so far. This even as the benchmark Sensex has gained less than 3 per cent on a year-to-date basis, underscoring the bullish undercurrent in the broader market. The trend shows a harsh second wave of Covid-19, subsequent lockdowns, and hit to the economic activity has made little dent into India Inc or shareholders' wealth. At the start of the year, there were 29 companies with a market value of more than Rs 1 trillion.
'Good investment opportunities should not be missed.'
'The biggest risk to the Indian markets from a 12-18-month view is that the current government does not get re-elected, or loses in a way that is not represented at all in the next central government.'
France has eased the norms for mobility of employees to the country.
India Inc's debt-to-equity ratio has fallen, from 0.92 in FY15 to 0.88 in FY16.
'A CEO is successful if he is able to retain the confidence of his shareholders. And the shareholders of India Inc have backed their prime minister-CEO to the hilt,' says Sudhir Bisht.
While welcoming Prime Minister Narendra Modi's announcement on Saturday to celebrate January 16 as National Start-up Day, six years after the Start-up India Action Plan was launched by the government, stakeholders in the ecosystem say that more needs to be done at the policy level to unleash the next phase of growth in the sector. "The Start-up India programme's launch in 2016 was a turning point - that is when the promoter came to be known as the founder in the country and the word 'entrepreneur' entered the common lexicon. "But now we need a Start-up India 2.0 now for the next phase of growth of the ecosystem", said Siddarth Pai, managing partner of venture capital (VC) firm 3one4 Capital. Pai says that Startup India 2.0 must look at promoting Startups headquartered in tier II,III & IV cities and solving the problems of Bharat.
Even those who advise caution believe the current PE multiples are justified by India Inc's healthy returns
Finance Minister Arun Jaitley presented the Budget today.
While weather forecasters remain divided on how the monsoons will play out in India over the next few months, analysts believe the news at the current juncture - at best - can trigger a knee-jerk reaction in the markets. They believe it is too early to say whether the sub-par monsoon on account of El Nino can seriously dent the market sentiment in the short-to-medium term. "These are just initial forecasts and we will have another round / status update from the weather forecasters a month down the line.
India Inc will contribute 82 per cent of the total tax revenues of the Centre this fiscal and the share of income tax still accounted for a mere 18 per cent as majority of the population was out of the tax net.
In March this year, Worldline India launched Vabox (Voice Alert Box): merchants will now get instant audio alerts on the settlement of UPI (Unified Payments Interface) payments via QR codes in languages of their choice when customers check out. "They needn't worry whether the amount has been credited to their account," says Gulshan Pruthi, the firm's executive vice-president. The French payments giant will roll out 500,000 Vaboxes in the initial phase.
The projected increase for 2020 is lower than the average salary hike that graduates of top business schools have managed - at around 12 per cent.
Expressing disappointment over the RBI's move for not cutting the key policy rates, India Inc on Tuesday asked the government to take immediate action to revive growth and boost investments.
The increased tax target comes at a time when consumer spending and sales growth are slowing down and most companies are not investing in new capacities.
The study claims that from its peak of 18 per cent of gross domestic product in 2008, the crony capitalists' wealth is now down to three per cent
The Nifty Index features 50 of the largest companies in the country and represents close to 50 per cent of total market capitalisation. It is now trading at valuations that could only be justified if India Inc grows earnings at better than thrice the GDP growth rate. This is extremely unlikely, says Devangshu Datta.
'The selling in India may emerge as soon as the RBI reverses its interest rate stance.'
The govt's willingness for change and 'feel good' factor has boosted sentiments.
An obscure US-based firm with just 19 employees, USD 15 million in revenue and hosting just a one-page website, wants to invest USD 500 billion in equity into India's National Infrastructure Pipeline (NIP).
'The recent correction in indices has made the markets cheaper to invest for the long term.'
India Inc is automating and squeezing more output from its workers and so needs fewer of them, finds out IndiaSpend Team.
'The markets have corrected almost 8-9 per cent from their highs, so one can accumulate quality stocks at reasonable prices.'
'People are doing a lot of trading.' 'Short-term euphoria can be seen.' 'Retail participation is best through MFs and PMS.'
India Inc's investment project announcement falls to Rs 11.3 trillion. In the coming months, the pace of investments would depend on how soon consumption demand picks up and private sector investment ramps up investment in infrastructure.
Crisis of growth is worsened by the challenging global environment and policy missteps. Returning to 9 per cent growth trajectory will be a tall order.
India has more service companies, such as IT and healthcaresectors, which always trade at a premium to the overall market.
For India Inc, latest GDP figures signal a turnaround.
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