If the government cuts wasteful expenditure as it is trying now, the deficit would at most fall to 8 per cent, not less than that.
During the first quarter ended June, gross tax collections fell 31 per cent driven down by a massive 76 per cent plunge in advance tax mop-up, as the country was in a full lockdown due to the pandemic.
The commercial vehicle loans that were extended recently have shown higher tendency for default than old advances, according to a study by rating agency Icra. The large number of borrowers is being brought into the fold in a segment that is growing fast (buoyant) and there is certain lowering of credit criterion (read laxity in lending norms).
In a short span of time, with the help of Amazon, Cloudtail was able to devise a model that could protect it from the vagaries of online retail business.
The root of the problem, according to industry officials, is the sudden stoppage of lines of credit to tea plantation companies.
Enthused by rising potato prices after a prolonged slump, Pradeep Sharma was planning to sow the crop on his 15-acre farm near Agra slightly earlier than usual. The delayed departure of the southwest monsoon also prompted his decision, since the good soil moisture would have saved at least one initial irrigation. But the acute shortage of diammonium phosphate (DAP), a crucial nutrient ahead of the sowing season for potatoes, nipped those hopes in the bud. DAP is the second-most used fertiliser in the country after urea.
Retail inflation inches up to 3.77%; IIP growth dips to 3-month low
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.
The top losers from the Sensex pack are ONGC, Coal India, Vedanta, Reliance Inds and L&T.
India is likely to capture 56 per cent share of offshore business process outsourcing business by 2006 with the demand for BPO services increasing at an annual growth rate of 50 per cent during 2004-06
The immediate revenue loss could worsen the Centre's fiscal deficit, from the budgeted 3.3 per cent of gross domestic product (GDP) to 3.7 per cent of GDP -- a massive 40-basis-point increase. It was stabilised at 3.4 per cent since 2016-17, report Abhishek Waghmare and Dilasha Seth.
Airlines will report losses in FY16 but 35% less Y-o-Y
ICICI Bank was the top loser along with index heavyweights RIL, ITC and HDFC.
Sebi has now said any default of payments of interest or principal on loans taken from financial institutions, including banks, will have to be disclosed if it continues beyond 30 days.
To meet the revised estimates for 2019-20, the central government will have to garner Rs 5.03 trillion in total revenues in March, which has seen the worst phase of the coronavirus pandemic so far and the resultant lockdown.
Inflation in 'fuel and power' basket rose sharply to 11.22 per cent in May from 7.85 per cent in April as prices of domestic fuel increased in line with rising global crude oil rates.
Despite Indian economy recovering, there is very little room for loan growth, say bankers.
State-owned banks have amassed bad loans faster than private sector lenders.
In first 9 months of FY18, scooter sales grew by 18.5%, the number may jump further as more women join workforce
A monsoon deficit is likely to affect the agriculture output, which could have an impact on the food inflation
In the first two months of the current fiscal, Indian exports of finished steel reportedly grew by almost 76 per cent on a YoY basis and China alone accounted for close to 60 per cent of the increase.
Domestic tyre demand is seen to grow by 7-9 per cent over the next five years.
The National Highways Authority of India will this year witness the highest ever growth out of the last decade. But Gadkari himself admits his biggest failure as India's roads minister has been his inability to curb loss of life in road accidents.
Since April, India has seen multiple strains of the coronanavirus sweep the nation, upending life and businesses alike. Out-of-home retail and discretionary categories such as durables, auto, fashion, lifestyle, hospitality, food services, travel, and tourism have been the worst-hit as Covid cases remain high, leaving state governments with no option but to curtail mobility and economic activity.
RRBs were formed under an Act to provide credit to small farmers, agricultural labourers and businesses in rural areas.
Unlike last year when private equity participants exited through strategic deals with third party investors, this year PEs are opting to exit via initial public offerings route.
The revision will do little to help the Congress party-led ruling alliance, which faces an uphill battle in elections due by May amid allegations of economic mismanagement, corruption scams and high inflation.
Though Kishore Biyani is selling stakes in group companies to pay off debt, a significant share price crash since January this year is making his task difficult.
Currently, the retail inflation is well below the RBI's comfort level. The government has asked the central bank to keep inflation in the range of 4 per cent.
Investors were anxious concerned about the uncertainties over the timing of Us Federal Reserve rate hike, US policies under President Donald Trump, the upcoming French election and rising crude price that could impact inflation, going ahead. A weak closing in Asia tracking overnight losses in the US owing to all these unknowns triggered selling, brokers said.
With assets depreciating over time, it will lead to large haircuts for lenders and creditors, say experts
'The real lifting of the economy will happen only if this momentum sustains in the coming months.'
Overall, the domestic FMCG market bounced back to levels of 98 in June compared with 75 in May and 101 in March before the nationwide lockdown was announced. The pre-Covid March index for foods was 103, and for non-foods, it was 99.
Import segments which recorded negative growth include gold, silver, transport equipment, coal, fertiliser, machinery and machine tools. However, exports of oil seeds, coffee, rice, tobacco, spices, pharma, and chemicals reported positive growth in June.
Experts said a future rate cut would depend on the inflation.
Govt squeezed capital expenditure, and also cut revenue expenditure, that does not go into creating assets, by 11% in H1
Financial planners advise against putting capital to work by anticipating what might go up or down.
Top tier Indian software companies should see strong topline growth in FY04 due to the country's emergence as an attractive destination for outsourcing, according to credit rating agency ICRA's report on information technology.
Stating that the forthcoming elections will delay the reform process and hurt growth, international rating agency Moody's on Monday said it expects growth to pick up to only 5.5 per cent in FY15.
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