'This solid verdict would further strengthen his resolve to drive forward the economic agenda to ensure that the fruits of the economic momentum continue to reach the poor, so visible during the last five years.'
Capital expenditure by Indian companies is likely to see an uptick in the upcoming quarters as capacity utilisation has surpassed the critical threshold of 75 per cent, and numerous companies have deleveraged their balance sheets, according to analysts. The first quarter of the current financial year has shown improved profitability, driven by a decrease in input prices. This, according to analysts at Care Ratings, should stimulate a revival in the private capex cycle.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
The higher than expected growth in the second quarter of 2013-14 is an indication of recovery in economy but some key sectors still need to perform better, India Inc said on Friday.
83% of the CEOS plan to hire more in the new year.
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Net profit grew 25.4% in Q4 but revenue growth, lower at 8.5%, suggests lack of volume expansion.
The handsome 25 per cent rise in corporate profits in the September quarter amid a sharp contraction in GDP was on the back of wage squeezes, leading to rise in inequalities in India, economist Nouriel Roubini said on Thursday. This rising inequality is "dangerous" politically and socially because only a few people in the economy are benefitting, the economics professor at New York's Stern School of Business said. Roubini said earnings of listed entities have risen 25 per cent in the September quarter, which means that wages and income are getting "squeezed, if not collapsed".
India Inc has an impressive report card to show for the first quarter of this financial year.
Narendra Modi has earned a ranking of eight out of 10 in an India Inc survey.
The industry urged the central bank to consider a rate even before the next monetary policy review on July 30.
Relax fiscal consolidation, boost public capex and reduce cost of finance, industry tells Centre
The benefit coming in from the Rs 1.45 lakh crore tax giveaways will also help companies to cut prices by up to 5 per cent to boost consumer demand, which has been sagging and is one of the prime reasons for the deepening slowdown.
As India faces slowing economic growth, HSBC Global Research has downgraded the Indian stock market outlook from "overweight" to "neutral". In a report, the global financial services firm said profits at India Inc appeared to have softened while valuations are elevated. After annualized growth of 25 per cent in recent years, profits appear to have softened while valuations are elevated at 23x forward earnings.
Majority of respondents feel that the government in the forthcoming Budget will increase the standard deduction and give more incentives for housing loans.
'Inflation is not good for industry. Nor for the economy as a whole.'
Corporate India is indicating cautious hiring in the March quarter of 2023 as concerns rise over possible recession and steady inflation, a survey said on Thursday. According to the ManpowerGroup Employment Outlook Survey, based on interviews with nearly 3,030 public and private employers, hiring intentions will decrease in the quarter both on year-on-year and quarter-on-quarter basis. During the quarter, 48 per cent employers expect to increase their staffing levels, 16 per cent anticipate a decrease in hiring intent and 34 per cent do not anticipate any change in hiring, resulting in a net employment outlook of 32 per cent.
The one-time restructuring of loans will help every firm and prevent cost-cutting measures such as lay-offs.
'Not paying workers enough will end up being self-destructive or harmful for the corporate sector itself.'
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Prime Minister's key economic advisor C Rangarajan on Friday lowered the growth forecast for the current fiscal to 5.3 per cent from 6.4 per cent projected earlier and listed out host of measures, including further liberalisation of FDI norms to improve economic condition.
India Inc on Saturday cheered the road map for lowering corporate taxation.
The RBI had lowered policy rates by 0.50 per cent between January-March to prop up economic growth.
Indian companies' market capitalization has grown at the fastest pace last year among major economies despite contraction in GDP, economists from SBI said, flagging the risks to financial stability it poses. Further, retail investors have shown higher interest in markets and their numbers have increased by 1.42 crore in FY21 and another 44 lakh in April and May, they said in a note, wondering if this will be a lasting behavioural change or is transitory. The economists at the country's largest lender attributed the growth in equity markets to lower returns on other financial instruments amid a low rates regime, increase in global liquidity, and even a tendency to spend more time at home because of mobility restrictions which led many to trade more.
The new Land Acquisition Act to provide just and fair compensation to farmers came into force from January 1, 2014.
Revenues of Indian companies, excluding those engaged in banking and oil, are expected to grow marginally at 5-6 per cent in the first quarter of this fiscal.
Expressing serious concerns over the current account deficit touching a record 4.8 per cent in 2012-13, India Inc on Thursday asked the government to take all policy measures, including boosting exports and foreign exchange inflows to bring down CAD.
Emphasising that revival of growth should be the number one priority of the RBI at this time, industry groups said apprehensions about inflation rearing its head again may prove to be misplaced.
Industry is displeased over the failure of the National Manufacturing Policy, which has failed to invite any sizeable investment since it was launched more than two years ago.
Analysts now expect India Inc to report a decline in both top line and bottom line for the September quarter.
The consumer durables segment declined by 23.4 per cent in June, as against a dip of 10.1 per cent a year ago.
India Inc on Wednesday said it looked forward to the new RBI Governor Raghuram Rajan initiating cut in interest rates and improving credit flow to crucial sectors like infrastructure to put economy back on high-growth path.
Combined net profit of BSE500 companies at $ 63 bn is 2.3% of GDP; global average is 5%.
Speaking at an Assocham event, Modi said the recent cut in corporate tax has brought rates to all-time low for businesses, adding that labour force should also be taken care of.
That's because India does not have a serious venture capital industry with an appetite for risk, observes T N Ninan.
Retail investors have become a force to reckon with in the last 10 years with their ownership of Indian equities rising 800 basis points, or 8 per cent, to 23.4 per cent during this period, suggests a recent note from Morgan Stanley. This number, Morgan Stanley said, is set to rise in the next few years as Indian households are still underinvested in equities. India's demographics, policy framework, investor education and modest positive real rates, it said, will fuel the 'equity cult' in India.
Showing signs of recovery, industrial production grew at 4.7 per cent in May, the highest since October 2012, on account of improved performance of manufacturing, mining and power sectors and higher output of capital goods.
Prime Minister Narendra Modi urged CEOs of US majors to take advantage of India's growth story as the country is making all efforts to become the third largest economy of the world in his third term. India is currently the fifth largest economy of the world after the US, China, Germany and Japan with a GDP of around $3.9 trillion. India has been the fastest growing large economies of the world with GDP growth rate of over 7 per cent for the last three consecutive years.
China has cast a long shadow on India's economy.
It bounced back from the historic low of 41 recorded in the April-June quarter, during the initial days of the pandemic and lockdown.
RBI had previously cut repo rate by 0.25 per cent each in January and March.
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