NTPC to be the worst hit, stock slides to five-year low on announcement.
India's economy is projected to slow to 6.5 per cent in the fiscal year starting April but will remain the fastest growing major economy in the world as it fared better in dealing with the extraordinary set of challenges the globe has faced, the Economic Survey 2022-23 said on Tuesday. India's gross domestic product (GDP) growth of 6.5 per cent in 2023-24 compares with an estimated 7 per cent expansion in current fiscal year (April 2022 to March 2023) and 8.7 per cent in the previous year. Like the rest of the world, India too faced an extraordinary set of challenges in tightening financial conditions and supply chain disruptions from a prolonged war in Europe but "withstood them better than most economies", the annual document detailing the state of the economy said.
The loss meant Mumbai City FC missed the chance to regain the top spot
Maharashtra government has conveyed to the Centre that it is willing to purchase power from Dabhol plant at Rs 2.20 per unit.
HDFC was the top gainer in the Sensex pack, climbing nearly 4 per cent, followed by PowerGrid, Sun Pharma, Tata Steel, Tech Mahindra and Bajaj Finserv. NSE Nifty surged 234.75 points to 17,401.65.
The economy can't grow without increasing electrification, which requires more power plants, and given coal is the cheapest form of fuel and is abundant, it makes sense that India is looking to boost the use of the fuel.
India will add about 9000 MW of wind power generation capacity during XIth Five Year Plan ending March 31, 2012, lower than previously targeted 11,000 MW.
Cristiano Ronaldo and Nani struck in quick succession early in the second half to fire Portugal to a 2-0 win over Wales in the first Euro 2016 semi-final on Wednesday. After a tense and tactical first half, Ronaldo broke the deadlock five minutes after the re-start when he leapt majestically to head Raphael Guerreiro's pinpoint cross into the net following a short corner.
Equity benchmarks Sensex and Nifty ended on a mixed note on Wednesday as the euphoria about the Budget fizzled out, with investors going for profit-taking ahead of the Fed interest rate decision. The 30-share BSE benchmark Sensex climbed 158.18 points or 0.27 per cent to settle at 59,708.08 after it trimmed most of the intra-day gains. During the day, it had zoomed 1,223.54 points or 2 per cent to 60,773.44.
"This Budget needs to come up with measures that balance the high inflation and sustainable growth. The continuing fiscal problems and revenue deficit will force the budget to take stringent revenue making measures including looking at introducing or extending the stimulus packages to boost revenues," said G Bala Reddy, chairman and managing director, ICSA India.
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Likely to set the ball rolling for Rs 1.72-lakh-cr projects today
As power generation across northern and western India bore the brunt of the coal scarcity, spot prices at IEX rose to Rs 10.8 a unit during August 25-27, compared with Rs 8.7 a unit on August 22.
The government's move to freely supply coronavirus vaccines to the states for universal inoculation and extend free rations to help the poor tide over the pandemic will only add an additional 40 bps of GDP to fiscal deficit, says a report, which also called for more transparent vaccine distribution plan for efficient vaccine allocation to the states.
'The finance ministry and the RBI will never admit to the difficulties in the economy because if they do so, it will adversely impact the financial markets, etc.' 'They like to present a rosy picture that everything is fine and under control.'
Political parties and individuals cannot be prevented from making poll promises aimed at fulfilling the constitutional mandate and the term 'freebie' should not be confused with genuine welfare measures, the Supreme Court said on Wednesday.
Bhagwant Mann and Arvind Kejriwal are realising that it is not a cakewalk to run a full state that is plagued with a fiscal deficit and where emotions run high at the drop of a hat, observes Sudhir Bisht.
In a populist move, the Congress government in Haryana on Friday announced to waive off Rs 1600 crore outstanding power arrears of farmers and rural consumers.
Green rating of thermal power plants are way behind the global best.
After a turnaround in performance by Indian equity markets since July that has seen the S&P BSE Sensex and the Nifty50 wipe out the year-to-date losses, analysts suggest investors start nibbling into stocks that are focused on the domestic economy. While they say intermittent corrections, led by policies of global central banks and other economic data, cannot be ruled out, analysts expect India's relative outperformance among global equity markets to continue as it looks better placed with a healthy economic recovery, and remains one of the fastest growing major economies. In this backdrop, Neeraj Chadawar, head of quantitative equity strategy at Axis Securities, believes that amid global slowdown, aggressive tightening by the central banks, and preference for domestic interests first (by the local government), export-oriented themes are likely to be muted or will deliver conservative returns in the near-term.
Observers say China should re-address its policies towards India or else it will continue to face flare-ups increasing the tensions between the two countries at a time China's increasing tension with the US over Taiwan and the South China Sea besides the downturn in the Chinese economy which is hit hard by the zero-covid policy.
Scotland's Scott McTominay grabbed another brace of goals as they stunned a much-changed Spain side to earn a deserved 2-0 victory in their Euro 2024 qualifier.
Images from the action on Day 2 at the Australian Open.
The panel's report also provides a range for fiscal deficit and debt path of both the Union and states and also recommended additional borrowing room to states based on performance in power sector reforms. Finance Commission is a constitutional body that gives suggestions on Centre-state financial relations. The report of the 15th Finance Commission was tabled in the Lok Sabha by Finance Minister Nirmala Sitharaman.
Sensex plunges 322.39 points to over 1-month closing low of 27,797.01; Nifty tumbles 97.55 points to 8,340.70.
The Indian economy has "some bright spots and a number of very dark stains" and the government should target its spending "carefully" so that there are no huge deficits, noted economist and former RBI Governor Raghuram Rajan said on Sunday. Known for his frank views, Rajan also said the government needs to do more to prevent a K-shaped recovery of the economy hit by the coronavirus pandemic. Generally, a K-shaped recovery will reflect a situation where technology and large capital firms recover at a far faster rate than small businesses and industries that have been significantly impacted by the pandemic.
A fresh spell of heatwave is likely to begin over northwest India from May 7 and over central India from May 8, the India meteorological department said on Thursday.
The final production cost of RRR is estimated to be approximately Rs 525 crore (Rs 5.25 billion), a sum impossible to recover through theatrical collections, even if it was the biggest hit of all times, which it is not, explains Subhash K Jha.
The Kerala high court on Thursday asked the state government as to what steps can be taken to ensure the safety of citizens on the roads in the wake of a bus accident in Palakkad claiming nine lives, including five school students.
Asian Paints was the top loser in the Sensex pack, shedding 2.66 per cent, followed by Axis Bank, HUL, Wipro, M&M, HDFC and Bharti Airtel. On the other hand, TCS, Infosys, L&T, Tech Mahindra and HDFC Bank were among the gainers.
Even as the bilateral relationship between the two neighbouring countries remains hostile, there is growing coordination between India and Pakistan on one multilateral forum - the World Trade Organization (WTO). Both countries have made two joint submissions at the WTO as co-sponsors in the past two months. In June, Pakistan joined India, Cuba, and 44 African countries, seeking sufficient flexibility in intellectual property rights for developing countries to fight the Covid-19 pandemic.
India has much to be proud of and celebrate. But there is also much that is wrong, much that looks dangerous. Employment, current account deficit, rural distress, agricultural productivity are all in deep crisis, points out Shekhar Gupta.
Germany struck twice with two minutes left in the match to wipe out a two-goal deficit and then prevailed over England in the penalty shoot-out to make a dramatic entry into the semi-finals of the Men's Hockey World Cup, in Bhubaneswar, on Wednesday.
The Centre has decided not to give a go-ahead to the Par-Tapi-Narmada river link project following strong protests against it by tribals, Gujarat Bharatiya Janata Party president C R Paatil said on Tuesday.
If Kerala wants to sustain its room for independent thinking and talk back to Delhi when needed, it should put its finances in order. Or - if one takes the North East example - Kerala's political posturing may end up commensurate with its financial dependence on others, suggests Shyam G Menon.
Mbappe becomes PSG's all-time highest goal-scorer as French champions extend lead
Despite some sluggishness during 2009-10, the growth was largely on track during 2008-09 to 2012-13.
Friendlier government policies, greater demand and better supply of coal have fuelled investor interest.
A picture of a Socceroos fan holding up a sign saying, "Give us a public holiday", was widely shared on social media.
No part of northwest, central and east India is likely to record a heatwave over the next five days, the MeT office said.
The government has decided to spend big on infrastructure across a wide variety of sectors to give a greater impetus to the economy which is recovering from the impact of Covid-19, Finance Minister Nirmala Sitharaman said on Monday.
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