Amid a shift in mobility trends and people increasingly opting for less polluting energy sources, sales of compressed natural gas (CNG) vehicles increased more than 82 per cent in the past five years. A total of 729,902 CNG vehicles were sold in 2022-23 against 400,825 in 2017-18, according to VAHAN Dashboard. Though the increase in sales of CNG-powered vehicles has been significant, their share in overall vehicle sales remains minuscule as is the case with EVs.
The Supreme Court ordered on Monday that no invasive work would be undertaken by the Archaeological Survey of India (ASI) to determine if the Gyanvapi mosque located next to the Kashi Vishwanath temple in Varanasi was built upon a temple and agreed to hear a plea moved by the mosque committee during the day.
The reason? Price of open cell panels has gone up 15%. One of the main components in the manufacturing of TV sets, open cells contribute to 60%-65% of the manufacturing cost.
The country's Fast-moving consumer goods (FMCG) industry witnessed a consumption slowdown in the December quarter, with an overall "negative" volume growth, as consumers continue to reel under inflationary pressure, says a report. According to the report released by data analytics firm NielsenIQ on Thursday, in October-December, the FMCG industry grew 7.6 per cent in terms of value but its volume growth was (-) 0.3 per cent. "... Overall FMCG volume growth is negative, the absolute values, as well as volumes, continue to be above pre-Covid levels across markets," it said.
Hardik Pandya's leadership skills and India's overall World Cup preparedness will be under focus
The reason is that because of the hybrid immunity after three waves of natural infection and a large proportion of adults receiving both doses of COVID-19 vaccine, the susceptible pool has come down drastically, Lahariya said.
'If you want to change everything all of a sudden to polyester, then the production of khadi flags will come under trouble.'
Even as India overtakes Japan in automotive sales in 2022, moving to third place for the first time, oddly enough the country's biggest motor show is going to see some big hitters give it a clear miss. Some prominent automotive brands have cited high event costs, negligible returns on investment, poor event management, and unfavourable location as reasons for their reluctance to participate. Major pure-play electric two-wheelers, too, are riding past this year's edition of the Auto Expo.
The Centre is expected to apprise the court of the steps taken so far with regard to reviewing the contentious penal provision.
A bench of Justices BR Gavai and Vikram Nath was told by the Centre in its application moved by additional solicitor general Aishwarya Bhati that a status report in this regard will be filed before the court within six months on the basis of the advice of the experts on the tanslocation of Asiatic lions from Gir to Kuno.
A host of Congress leaders, including former party chief Rahul Gandhi, criticised the move to convene an all-party meeting in Delhi and at this juncture.
83% of the CEOS plan to hire more in the new year.
The Tamil Nadu assembly on Monday adopted a resolution to urge the Centre and the President to fix a timeframe for state governors to approve bills adopted by the respective houses.
Policies to break down the business group format are far more likely to be effective, argues Simon Commander.
A likely turnaround in profitability margins in the March quarter (Q4FY23) will not be enough to lift the outlook for paint stocks due to volatile crude oil prices and rising competition in the sector, analysts say. Hence, they advise investors to avoid the sector over the short-to-medium term despite the heavy correction in the stocks since last year. Shares of Asian Paints, Berger Paints, Indigo Paints, Nerolac and Pidilite have shed 6-32 per cent over the last 6 months versus a 3 per cent rise in the benchmark Sensex.
The Union health ministry on Thursday termed as 'misleading' and 'fallacious' media reports which claimed that regulatory approval for COVID-19 vaccine Covaxin was rushed due to political pressure.
The government on Friday proposed hiking the securities transaction tax on Futures & Options (F&O) contracts, a move that will increase the trading costs in the derivatives segment as well as help in curbing excessive trades. In the Finance Bill 2023, passed by the Lok Sabha on Friday, the Securities Transaction Tax (STT) on options is proposed to be increased to 0.0625 per cent from 0.05 per cent and on futures contracts to 0.0125 from 0.01 per cent. Analysts opined that higher STT will shore up the government's revenues to some extent and also discourage excessive trading since a large number of retail traders are losing money in the segment.
Notwithstanding expectations of a pick-up in construction activity during a seasonally strong January-March quarter (fourth quarter) of 2022-23 (FY23), analysts are cautiously optimistic about the building material sector - encompassing paints, pipes, wood panels, tiles, metals, and cement - as volatile input costs, coupled with fears of a global slowdown, are making demand projections uncertain. Against this backdrop, analysts suggest investors stay selective and pick stocks of companies with stronger brand recall, expanding distribution network, diversified product profile, healthier balance sheet, and sustainable cash flow. "The government's various proposals under Budget 2023-24 (FY24) may lead to the building material segment growing between 8 per cent and 12 per cent for the next five years.
'It's important that every portfolio is well diversified.' 'My own portfolio is diversified across asset classes: 50% is in equity funds, 15% in international schemes, 25% in debt funds and 10% in sovereign gold bonds.'
The Editors Guild of India on Wednesday said it was extremely disturbed by the manner in which the Delhi police carried out searches and seizures at the homes of the editors of The Wire as well as their office and the newsroom.
'As Bharat Jodo Yatra entered Delhi, on 24th December 2022, the security of the Bharat Jodo Yatra was compromised on multiple occasions'
HDFC Bank Q4 review: HDFC Bank's January-March quarter (Q4) results, for financial year 2022-23 (FY23), brought no cheer to investors as elevated costs, and merger-related uncertainties continue to dent the sentiment. Moreover, analysts fear that merger-related costs may put pressure on margins and cost to income ratio in the near-term, while the return on equity could moderate owing to low leverage of the parent. Analysts, therefore, opine that the stock's re-rating may be some time away. "While the risk of a de-rating on a standalone basis appears to be quite low given that the business performance is holding up well, we believe a re-rating in the stock would happen as and when more clarity emerges on the smooth transition (merger)," said a report by Sharekhan.
Will syringe shortage puncture India's Covid vaccine plans?
The recent protests by employees of Urban Company and the case of a a Zomato delivery executive who died in a road accident point to the severely straitened condition of gig workers during the ongoing Covid-19 pandemic. Budget 2021 had promised several measures to help the cause of gig economy workers, but most of them are yet to see the light of day. Even after a year, the country's gig workers continue to be without any social security cover or a minimum wage guarantee. "In Budget 2021, finance minister Nirmala Sitharaman had announced that the government is looking toward including migrant and gig workers for social security benefits," says Srinivas Kotni, managing partner, Lexport, a consulting firm. Parliament had passed the Code on Wages in 2019 and Code on Industrial Relations, Social Security and Occupational Safety, Health and Working Conditions in 2020.
Since 2012, 44 Indians have been anointed as grandmasters -- the highest achievement in chess, points out Arvind Subramanian, economist and former chief economic adviser to the government.
'Oommen Chandy always had time for his people and valued their voices.' 'There was no rest for him as long as the betterment of his fellow citizens was at stake.' Ambassador Venu Rajamony, who knew the former Kerala chief minister for half a century, salutes a beloved leader who worked tirelessly for the welfare of its people.
'With Ramaland, the tourism department is looking to attract children and adults alike. It'll be learning with entertainment.'
Widening of the tax base, doing away with cess and surcharge, improvement in compliance and moderation in tax for emerging sectors are some of the suggestions submitted to the Finance Ministry ahead of the Budget by Think Change Forum (TCF). Experts are of the opinion that there is a need to grow tax revenues for the government to drive economic growth and make investments in developmental activities, TCF, the think tank said in a statement. Towards this end, poor compliance was identified as a weak link in achieving targeted collections leading to complex issues like overtaxing, complicated tax structures, rising litigation, among others.
In the letter, the lieutenant governor said that in the past one week, a "gloomy face of governance" emerged in Delhi where "organised, structured and specialised administrative machinery" is yet again facing the "brunt" of "highhandedness" of the political executive.
'After exiting jail, I thought some of my IIM-A classmates would contact me. None did.' 'The case indeed scared people, which perhaps was the objective of the State.'
Sirf Ek Banda Kaafi Hai reminds us that we haven't run out of instances where even the most vulnerable can secure justice against the mighty, applauds Utkarsh Mishra.
A sumptuous meal of Dal, Bati, Churma or Jodhpuri Kabuli pulao, followed by a lip-smacking dessert of Bikaneri ghevar or Jodhpuri mawa kachauri.
The first attempt to evacuate students on March 7 failed, despite ceasefire and planning.
Things are looking up for engineering firms and Siemens is likely to be one of the leading beneficiaries. Apart from the generic revival in activity, which is expected to continue through the 2023-24 financial year (FY24), the Budget has a strong infrastructure thrust, which works in Siemens' favour. The company reported a standalone Ebitda (earnings before interest, tax, depreciation and amortisation) of Rs 550 crore (up 66 per cent year-on-year or YoY) in Q1FY23 (Siemens follows the October-September accounting year).
Equity markets will be driven by the outcome of the US Federal Reserve's interest rate decision this week, analysts said. Moreover, equity benchmarks will also continue to be guided by foreign fund movement and trend in Brent crude oil, they added. "The global markets are looking nervous after the US inflation numbers, which have caused the dollar index to hover around 110," said Santosh Meena, head of research, Swastika Investmart Ltd. Now everyone is eyeing the outcome of the upcoming US Federal Open Market Committee (FOMC) meeting.
It would not be surprising if India, the world's largest producer of milk, has to resort to imports to meet the elevated summer demand, states Surinder Sud.
'The aim is also to probe how the ministry and testing agencies made negligence in examining these OEMs, so that such negligence is avoided in the future.'
The Congress is planning to call a meeting of Opposition parties in May. It is possible to keep all possibilities open in case Karnataka yields a hung House, leading to a recalibrated Opposition.
Maintaining 4 per cent inflation is appropriate for India as targeting a lower rate could impart deflationary bias to the monetary policy, said a Reserve Bank paper. Under the current dispensation, the RBI has been mandated by the government to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side. The paper, authored by RBI Deputy Governor Michael Debabrata Patra and another official Harendra Kumar Behera, has found a steady decline in trend inflation to 4.1-4.3 per cent since 2014.
India's services sector activities eased in March as growth was hit by the detrimental impact of the coronavirus pandemic and input costs remained elevated, a monthly survey said on Wednesday. The seasonally-adjusted India Services Business Activity Index fell from 55.3 in February to 54.6 in March. Though the rates of expansion softened, it indicated growth for the sixth consecutive month. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.
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