These core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production.
Airlines sought a limited period concession of the standing rule of slot allocation, which mandates that firms must operate at least 80 per cent of their allocated slots.
While the ratio determines the extent to which the government is able to finance its expenditure, it is also an indicator of tax compliance. Developed countries have a higher contribution of tax to their GDP.
After the government sought Parliament's nod for a second batch of supplementary demand for grants that will cause a hit of Rs 2.99 trillion to the exchequer, doubts suddenly arose about the government's ability to meet the Budget projections of reining in its fiscal deficit at 6.8 per cent of gross domestic product (GDP), or Rs 15.06 trillion, for the current financial year. Till now, many were of the opinion that the government would succeed in checking the deficit at a much lower figure than what was given in the Budget Estimates (BE). The government had sought Parliament's approval to spend Rs 3.74 trillion extra, but Rs 74,517.01 crore will be matched by equal savings on other heads.
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).
The optic fibre cable infra was with Jio Digital Fibre and the tower infra with Reliance Jio Infratel
Bidding for the sixth round of spectrum auction for radiowaves worth Rs 3.92 lakh crore will start from March 1, according to a notice issued by the Department of Telecom on Wednesday. The long-awaited spectrum auction is being held after a gap of four years and over two years after the Telecom Regulatory Authority of India (Trai) calculated and recommended base price for the radiowaves. The DoT has fixed January 12 for the pre-bid conference and January 28 as the last date for seeking clarification to the notice.
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 top losers from the Sensex pack are ONGC, Coal India, Vedanta, Reliance Inds and L&T.
Airlines will report losses in FY16 but 35% less Y-o-Y
To counter the pandemic, air transport was suspended from March 25 till May 24 which rendered zero traffic at AAI airports. Even after resumption of flights, traffic is yet to pick up at airports due to quarantine measures implemented by states and an overall fear of flying.
ICICI Bank was the top loser along with index heavyweights RIL, ITC and HDFC.
Retail inflation inches up to 3.77%; IIP growth dips to 3-month low
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.
The root of the problem, according to industry officials, is the sudden stoppage of lines of credit to tea plantation companies.
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.
A monsoon deficit is likely to affect the agriculture output, which could have an impact on the food inflation
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.
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.
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.
In first 9 months of FY18, scooter sales grew by 18.5%, the number may jump further as more women join workforce
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.
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.
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.
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.
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 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.
Domestic tyre demand is seen to grow by 7-9 per cent over the next five years.
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.
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.
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.
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.
RRBs were formed under an Act to provide credit to small farmers, agricultural labourers and businesses in rural areas.
With assets depreciating over time, it will lead to large haircuts for lenders and creditors, say experts
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.
Experts said a future rate cut would depend on the inflation.
