Bhogapuram international airport, Ramayapatnam and Bandar ports, the Muktyala lift irrigation scheme and a bridge across the Krishna river are some of the projects likely to be hit.
Foreign Direct Investment into India rose by 13 per cent in 2020, boosted by interest in the digital sector, and while fund flows "declined most strongly" in major economies such as the UK, the US and Russia due to the Covid-19 pandemic, India and China "bucked the trend", the UN has said.
The average time lag between the date of occurrence of a fraud and its detection is 23 months; for large frauds (Rs 100 crore and above), it was 57 months.
Keki Mistry, bottom, left, vice-chairman, Housing Development Finance Corporation (HDFC), tells Joydeep Ghosh that debt fund investors could become risk-averse, leading to problems for other non-banking financial companies.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Experts say this is a good time to buy a house for self-use, points out Sanjay Kumar Singh.
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
Housing sector to benefit from Budget.
One of Mumbai's biggest real estate redevelopment projects of Bombay Development Directorate's (BDD's) chawls (large buildings divided into many separate tenements, offering cheap, basic accommodation) has taken off in Central Mumbai, opening up a Rs 20,000-crore opportunity for real estate companies. It is expected to drive down real estate prices in Central Mumbai by up to 25 per cent, forecast real estate experts. Spread over 92 acres in Central Mumbai's prime localities of Worli, Lower Parel, and Dadar and consisting 195 four-storey houses, the BDD chawls were constructed in the 1920s.
'Strong regulations are crucial for the orderly development of the market.'
The railway minister has steered clear of populist traps and refrained from making grandiose announcements in terms of new trains and new rail routes. He should now emulate China, and rope in Japan in boosting the rail network, says Rajeev Sharma.
'The real estate sector has been badly bruised because it has become too reliant on funding from NBFCs, including housing finance companies. 'When the NBFC industry was rocked late last year by a large default, the real estate sector was hit hard. 'An intricate web of links between rural incomes, construction activity and shadow banks are fuelling the economic slowdown', says Pranjul Bhandari.
The forthcoming budget is an excellent opportunity for the Government to fulfill its promise of high economic growth.
Even as India's internet base continues to widen, with the country set to have over 900 internet users by 2025, a parallel rise in cyber threats has become a matter of huge concern. Experts say that the sudden surge in digital adoption left little time to develop a cybersecurity backbone for the country. This has put large amounts of data at risk.
'The entire value of LIC is created by its shareholders because after the initial invest net of Rs 5 crores in 1956, the government has not given any additional capital to the LIC.' 'If the corporation has expanded and emerged as the biggest financial institution in the country, it is only because of the policyholders.'
The Rail Land Development Authority has invited online bids from private players to redevelop the station into an integrated commercial, retail, and hospitality hub.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
The government has brought in changes to the investment pattern for non-government provident funds, and superannuation and gratuity funds, enabling them to invest up to 5 per cent in the units of Category I and Category II alternative investment funds (AIFs), subject to some caveats. The development is part of the central government's strategy to channelise domestic savings and improve their returns to attract more investment in the said sectors. At present, these funds typically invest a minimum 45 per cent in government securities, besides new instruments, such as exchange-traded funds and real estate investment funds, while a portion in equity-related instruments.
Exuding confidence in sustaining the tempo of credit growth, public sector bankers said on Wednesday that consolidation in the public sector bank (PSB) space has given them a robust base to scale. The privatisation of PSBs can be done through divestment of government stake to a wider base of investors without haste. There is nothing to worry about at this point (high credit offtake) as underwriting standards and risk management are much better.
There was no relief for existing home buyers who are stuck in stalled projects and are paying both rent and EMI on their home loans.
Of the 40 CEOs polled from across the country, 60 per cent identified a fractured electoral mandate as a bigger risk than trade wars, volatile oil prices, and inflation.
Amendments would be required in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 for privatisation, sources said.
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
Sounding a note of caution, former Reserve Bank Governor Raghuram Rajan has said that India is "dangerously close" to the Hindu rate of growth in view of subdued private sector investment, high interest rates and slowing global growth. Rajan said that sequential slowdown in the quarterly growth, as revealed by the latest estimate of national income released by the National Statistical Office (NSO) last month, was worrying. Hindu rate of growth is a term describing low Indian economic growth rates from the 1950s to the 1980s, which averaged around 4 per cent.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
When an NRI returns to India, he should be aware of his tax residency status.
'Short term volatility is likely due to various factors, global and domestic; investors may use this as an opportunity to increase the allocation to equities.'
Payments banks are niche banks which will be allowed to function with several restrictions.
'The 5.7% growth in the April-June period is an aberration because of GST.' 'Business activity in the last 15 days of the quarter was minimal or zero.'
Budget might turn out to be neutral for the sector.
The government would be ironing out issues related to the controversial 'bail-in' clause in the earlier Bill, explore hiking the deposit insurance cover of customers, and decide whether the resolution framework should apply to public sector banks.
In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.5% and 0.4%, respectively.
Select companies in infra, capital goods, private banks, auto, oil & gas, and mining could be considered by investors.
Developers grappling with labour shortage and getting construction material to sites could be among a list of problems.
If a retail investor wants exposure to a healthcare ETF, it should be a part of his satellite portfolio, suggests Sanjay Kumar Singh.
'Unemployment barely figures in the Budget except as a derived demand from the industry and infrastructure.' 'There is no effort at direct attack on unemployment.'
Shankar Prajapati, a 57-year-old potter in Dharavi, has given up hope of getting a bigger house for his family. He lives cheek by jowl in a hutment measuring 200 square (sq.) feet (ft) in the nondescript shanty town. "We have surrendered to our fate. We cannot wait forever for better accommodation. "Perhaps we are not meant to dream big," despairs Prajapati. Raju Korde, president, Dharavi Redevelopment Committee, and a local resident, agrees with Prajapati.
Japan offers India soft loan for $15 bln bullet train in edge over China
'The government wants foreign companies to capture the insurance market.'
Budget in the medium term aims to kick-start the investment cycle.
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