Bank credit offtake is expected to pick up following normalisation of economic activities aided by the government thrust on public expenditure in current fiscal year, a report said. According to the Care Edge report, the gross non-performing assets (GNPA) ratio hit a six-year low of 5.9 per cent in FY22 but remained above the pre-asset quality review of 2015-16. However, it said, India's NPA ratio is one of the highest among the comparable countries despite gradual decline.
The government gave clearance to five global and five Indian players that have made a commitment to a production value of 12.5-trillion phones in five years under the Production Linked Incentive scheme.
Stock market investors are expecting a balanced Budget with a focus on job creation, increased spending on infrastructure, reigning in the deficit, and bringing the economy back on track, experts said on Wednesday. Stock markets have been subdued in the run-up to the Union Budget with BSE's benchmark Sensex is almost flat so far this month. Even the corporate earning season failed to excite the markets, while some indices like IT and bankex have seen some positive movements.
The state has decided that from Monday it will allow the plying of private buses along with the opening of electronics, stationery, tea stalls, and paint and hardware stores, reports Avishek Rakshit
Earlier, the administration had announced a 24-hour curfew on May 2 and 3 and asked Khargone residents to celebrate the Eid-al-Fitr and Akshaya Tritiya festivals at home.
On March 13, the Union consumer affairs ministry had declared face masks and hand sanitisers as essential commodities for 100 days to boost supply and prevent hoarding of these items in its fight to check the spread of coronavirus.
Ola Electric has finalised its second phase of expansion, under which it will increase its plant capacity fourfold - from 1 million two-wheelers per annum to 4 million. This will also include motorcycles, said a top executive of the company. It will also build a plant with a 5 Gwh of advanced chemistry cell battery storage capacity in the same super factory located on the outskirts of Bengaluru.
5G networks in India can be deployed in three months but in limited areas as the optical fibre based infrastructure to support the technology is not ready yet, telecom industry players said on Tuesday. Nokia India head of marketing and corporate affairs Amit Marwah said that India has to take a call on deployment of 5G services otherwise it will miss to take advantage of the next generation technology that it can bring for the economy.
Chief Economic Adviser K V Subramanian on Wednesday said India is expected to hit a growth rate of 6.5-7 per cent in 2022-23 and accelerate further to 8 per cent in the subsequent years on the back of reforms undertaken by the government. He also said the government is expected to meet the fiscal deficit target of 6.8 per cent in the current fiscal despite pressure on revenue collections.
"The price cap has been imposed taking into account the sharp increase in prices of raw materials used in making of face masks and hand santiser," Consumer Affairs Minister Ram Vilas Paswan said.
Ashwin has taken 24 wickets in the series so far with an innings left to bowl, but his 6/91 in 47.2 overs will certainly go down as one of his best efforts on a flat deck
Countries negotiating free trade agreements (FTAs) need to keep in mind eight "myths" which surround these pacts, like they lead to accelerated increase in exports and promote domestic manufacturing, according to a report by think-tank GTRI. The report by Global Trade Research Initiative (GTRI) claims to dispel these 'myths', including that FTAs weaken the WTO (World Trade Organisation), countries are rushing to do FTAs, and these pacts promote investment and lower prices. It is "erroneously" believed that most world trade happens through the FTA route, but in reality, it is less than 20 per cent, said the report titled 'FTAs: Fabulous, Futile, or Flawed?'.
The onslaught of Chinese mobile brands is virtually obliterating Indian brands, especially in terms of value. According to industry estimates based on excise and Custom duty trends, the value share of Indian brands (across smartphones and feature phones, operator phone sales - which is mostly Jio phones - and the value of phones smuggled into the country) has dropped to a mere 1.2 per cent in January-October 2021 compared to 25.4 per cent in the calendar year 2015. In the same period, the Chinese have established their domination, hitting a value share of 64.5 per cent, up from 17.8 per cent.
Prime Minister Narendra Modi began his engagements in the US on Thursday by meeting with leading American CEOs from five different key sectors and highlighted the economic opportunities in India.
The HC, though, refrained from prohibiting such cabs from plying in the meanwhile saying it was aware such a move would adversely affect commuters.
Today, Vachani's public-listed company, Dixon Technologies, has gone beyond manufacturing just television sets. Armed with private equity funding from Motilal Oswal eight years ago, it has transformed itself into a Rs 4,400 crore electronic manufacturing services major, which now straddles lighting products, home appliances, feature phones, LED bulbs, amongst others. A two-part series looks at how two home-grown manufacturers are leveraging the govt's production-linked incentive scheme.
The government on Wednesday approved a Rs 7,350-crore scheme to boost production of laptops, tablets, all-in-one PCs and servers in the country, as it sought to woo global and domestic players to take advantage of India's manufacturing prowess. Production worth Rs 3.26 lakh crore and exports of Rs 2.45 lakh crore are estimated over the next four years under the new scheme, which is expected to create 1.80 lakh jobs. Briefing reporters after a meeting of the Cabinet, Communications and IT Minister Ravi Shankar Prasad said the Production Linked Incentive (PLI) scheme has been approved for IT hardware products that would cover laptops, tablets, all-in-one PCs and servers.
'Then select those that are well-aligned with your risk-return profile and investment time horizon.'
So far, the drones that were considered important for the agriculture sector were nature-made winged-insects - a key component of the bee-based natural pollination cycle. The new-age drone is a whirring machine with rotors that can help farmers plan and grow and manage their crops. For the farm sector in India, which has had low levels of mechanisation, the impact of drones can be tremendous. The use of drones can help it leapfrog to modernisation in the same way that mobile phones helped India overcome its traditional lack of connectivity.
The stage is set for the inaugural edition of the Women's Premier League, which will get underway in Mumbai on Saturday.
As many as 8.5 lakh bank employees are set to benefit from the wage hike, which will be effective from November 2017.
Reliance Industries has put together an aggressive plan to build its drone business which includes expanding manufacturing capacity five-fold, participating in the new drone production linked incentive scheme, and experimenting with limited logistics payloads to deliver goods. The target is to become a key player in the expected $5 billion market in India by the end of the decade. The drone business is being carried out through a Bangalore-based start up, Asteria Aerospace, in which Reliance has taken a majority stake. Asteria is a subsidiary of Jio Platforms Ltd.
Health expert termed the problems caused due to the rise in pollution as a "medical emergency".
'Our civil society here is vibrant, and courageous, although it is beaten up and beaten down, repeatedly.'
Maruti Suzuki India will launch electric vehicles in the country only after 2025 as demand for such vehicles at the moment is less and it would like to sell around 10,000 units a month whenever it enters the electric mobility space, company chairman RC Bhargava said on Wednesday. Addressing a virtual conference on the company's second quarter earnings, he said under the current circumstances a lot of things in the EV ecosystem such as batteries, charging infrastructure and electric supply are done by other parties and therefore the costing is not in the hands of the company. Also with fuel prices going up, car market leader Maruti Suzuki India is intensifying its focus on more CNG offerings of its models.
"You look at the CPL which becomes more important with the next World Cup being there in the Caribbean, and how many players can you get put into that tournament to get an idea of conditions. It is an advantage,"
RoundGlass Punjab FC scripted history on Saturday as they clinched the I-League title with a game to spare.
Though the city's systems are willing to go to work as usual, participating political parties will try their best to ensure a '100 per cent successful' closure on Thursday. Vrushali Lad reports
Railway officials also indicated that possible 'sabotage' and tampering with the electronic interlocking system, which detects the presence of trains, led to the Friday accident.
United Arab Emirates-based low cost airline Air Arabia will operate seven additional flights from Mumbai to Sharjah from September 7-15.
The National Investigation Agency on Wednesday sought the death penalty for convicted Kashmiri separatist leader Yasin Malik, who had earlier pleaded guilty of all charges, including those under the Unlawful Activities (Prevention) Act, in a terror funding case, court sources said.
Incessant showers lashed Mumbai and its neighbouring areas on Wednesday morning, leading to flooding in many low-lying areas and traffic snarls on roads, officials said.
Invest only if you wish to go overweight on the sector.
NTPC was the top loser in the Sensex pack, shedding around 3 per cent, followed by M&M, Axis Bank, PowerGrid, Kotak Bank, Dr Reddy's, Bajaj Finserv and HDFC.
According to the survey report, the government's move to earmark Rs 76,000 crore outlay for semiconductors and display manufacturing segment will aid their production in the country. The survey said that government intervention to boost semiconductors and display manufacturing ecosystem in the country has come at a time when the global economy is facing acute shortage of semiconductors due to severe disruptions in supply chains.
The Thiruvananthapuram-bound train will leave Chennai on Mondays, Tuesdays, Wednesday and Fridays.
Around 29 trains have been delayed by two to five hours due to foggy weather, a railway official said.
People can make purchases for the festivals on Sunday, when the curfew has been relaxed from 8 am to 5 pm, they said.
Smriti Mandhana isn't actually known to be the most prolific T20 player -- her career T20 International average of 27.32 is middling at best. There have been failures too, but her ability to analyse and assess them honestly is a rarity in modern sport.
The government expects the rollout of 5G services to start from early October in the country, Union minister Ashwini Vaishnaw said on Saturday. "As soon as the spectrum auction ends, within a few days itself, we will allocate the spectrum. "We expect that the 5G roll-out will happen from the beginning of October and within a year or so, we should have a good rollout in the country," the Union Minister for Communications, Electronics and Information Technology Ashwini Vaishnaw told reporters in New Delhi.
