Outlay for infra is also expected to see a significant increase in view of the government's Rs 111-trillion investment plan under the national infrastructure pipeline to develop social and economic infrastructure over five years.
The record contraction in the growth rate of eight core sectors will have its impact on IIP.
Rating agency ICRA on Wednesday revised down its credit growth outlook for banks to 2-3 per cent for the current fiscal, and said the coronavirus pandemic-driven stress may leave 3.1-3.7 per cent of assets into bad loan list by March.
To make possible discretionary spending including capex and that on welfare, the government decided to borrow more than planned in FY21 -- Rs 12.7 trillion.
The ministry of health and family welfare spent Rs 3,948 crore in May this year compared to Rs 7,816 crore in the corresponding month of the previous year. On the other hand, at Rs 12,930 crore, the expenditure had risen almost 200 per cent in April against Rs 4,327 crore in the corresponding month of 2019-20.
Brent crude oil price surged 4 per cent on Friday, following tension between Iran and the US. Airlines, however, have been unable to pass on the price increase to customers due to the soft demand.
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.
Imports too declined 26 per cent to $29.47 billion in August, leaving a trade deficit of $6.77 billion.
Loans, cash credits, and overdrafts at the end of December 22, 2017, stood at Rs 81,287.32 billion, against Rs 73,340 billion in the year-ago period.
Mop up grows 10% y-o-y at Rs 1.05 trillion, almost equal to levels in February before a nationwide lockdown to contain the coronavirus pandemic
Fertiliser production dropped sharply by 11.5 per cent, crude oil by 5 per cent and natural gas by 0.9 per cent in October over the year-ago month
India's factory output climbed 22.4 per cent in March, benefiting from the base effect of the lockdown-marred month a year back as well as a turnaround in the manufacturing sector, while retail inflation slipped to a three-month low of 4.29 per cent in April. The high positive annual growth in the index of industrial production (IIP) in March 2021 came on back of a contraction of (-)0.9 per cent and (-)3.4 per cent in January and February 2021 respectively, according to the data released by the National Statistical Office (NSO) on Wednesday. This turnaround was led by recovery in the mining, manufacturing and electricity sectors.
RRBs were formed under an Act to provide credit to small farmers, agricultural labourers and businesses in rural areas.
Inflation in food articles during May stood at 1.13 per cent, as against 2.55 per cent in April.
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.
Sectors with positive growth during the month include rice, iron ore, oil seeds, oil meals, meat, dairy and poultry products, pharmaceuticals, coffee, engineering goods, and plastic.
As per commerce and industry ministry data, food inflation fell to 4.91 per cent in March from 7.79 per cent in the previous month.
The net NPA ratio declined to 3.7 per cent in September 2019 from just below 4 per cent in March 2019, reflecting increased provisioning.
The fiscal deficit rose primarily on the back of lower non-tax revenues, which came in at 60 per cent of full-year target, compared with 62.4 per cent for the same period last year.
WPI inflation, which was in the negative zone from November 2014 to March 2016, has been on an upward trend for the seventh straight month
With the government looking to divest loss-making steel assets, significant interest from secondary players is most likely this time apart from the anticipated list of large integrated primary steel producers, said industry experts. Rashtriya Ispat Nigam Limited (RINL), Neelachal Ispat Nigam Ltd (NINL), NMDC Integrated Steel Plant (NISP)-Nagarnar, Ferro Scrap Nigam Ltd and three units of Steel Authority of India (SAIL) - Alloy Steels Plant, Durgapur; Visvesvaraya Iron and Steel Plant, Bhadravati; and Salem Steel Plant, Salem - constitute the divestment list. All the three units of SAIL have been loss-making for more than five years.
RBI had on February 12, 2018 issued a circular saying that lenders have to provide for resolution plan within 180 days in case of large account of Rs 2,000 crore and above.
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.
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
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 inflation in the food basket spiked to 7.89 per cent in October 2019 as against 5.11 per cent the preceding month.
'The real lifting of the economy will happen only if this momentum sustains in the coming months.'
An expected withdrawal of FIIs from the market likely to weaken the rupee against the dollar.
The retrenchments at the company promoted by Mumbai BJP chief Mangal Prabhat Lodha come at a time when the economic growth has dipped to a six-year low of 5 per cent, which has led many to fear if the spectre of job losses across sectors awaits next.
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.
Kerala Tourism has drawn up God's Own Country 2.0 and the department is going all out to repair the state's image and infrastructure. Apart from being a damage control exercise, it is also an opportunity to reimagine the state as a tourism brand.
The spreads between state development loans and equivalent-maturity government papers have started widening, and market participants don't expect them to contract anytime soon. The rise in spreads is a direct measure of market displeasure than a rise in yields.
Costlier vegetables slowly pushed retail inflation, which had remained well within the Reserve Bank's comfortable level of 4 per cent during most part of 2019, peaked to more than three-year high of 5.54 per cent in November.
Axis Bank and ICICI Bank consumed 37-59 per cent of their operating profit for COVID-19 provisioning, while the figure is 24 per cent in case of Kotak Mahindra Bank and 10-12 per cent for IndusInd Bank and HDFC Bank.
If the industrial sector expanded, growth rate is likely to rise in the remaining quarters to reach 7.6-7.8 per cent for 2017-18.
Declining vegetable prices brought down the retail inflation to a 15-month low of 4.59 per cent in December and within the comfort zone of the Reserve Bank, government data showed on Tuesday. It is for the first time during the current fiscal that the Consumer Price Index (CPI) based inflation print is below 6 per cent or in the RBI's target range of 2 to 6 per cent. The central bank factors in the CPI-based inflation while arriving at its monetary policy. The inflation in December 2020 came down from 6.93 per cent in November, mainly on account of 10.41 per cent decline in vegetable prices over the year-ago period.
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.
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.
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.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances