'While investors believe in India's long-term growth story and resilience amid global uncertainty, they see near-term risks around the direction of a global trade war.'
Paraphrasing Abraham Lincoln, Finance Minister Nirmala Sitharaman on Sunday described the Union Budget as "by the people, for the people, of the people", and said Prime Minister Narendra Modi was fully behind the idea to cut taxes for the middle class but it took time to convince the bureaucrats. "We have heard the voice of the middle class" who had been complaining about their aspirations not being met despite being honest taxpayers, she told PTI in an interview.
India's merchandise exports dipped by about one per cent to $38.01 billion in December 2024 against $38.39 billion a year ago, according to government data released on Wednesday. Imports increased by 4.8 per cent to $59.95 billion in December 2024 compared to $57.15 billion in the year-ago month.
The new excise policy, introduced in Delhi in November 2021, made sweeping changes to the city's liquor trade.
India's manufacturing sector growth fell to a 14-month low in February amid softer increase in new orders and production, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) registered 56.3 in February, down from 57.7 in January, but remained firmly within the 'expansionary' territory. In PMI parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
'We crossed Rs 1.7 trillion in three months this financial year.'
'I now see rates rising again, particularly after recent losses - especially the January wildfires in Los Angeles.'
Instead, 2019-20 could be the base from which the Budget estimates for next year are calculated.
Nepal has sharply increased permit fees for climbing Mount Everest by 36 per cent and also introduced a slew of measures aimed at controlling garbage pollution on the world's tallest peak, officials said.
The stock of the country's largest plastic pipe maker Supreme Industries has shed 22 per cent since its highs in October. The September quarter results were below expectations as the volatility in polyvinyl chloride (PVC) resin prices led to a major destocking across the trade channel.
The government on Monday projected a 16.67 per cent growth in gross tax revenue in the next fiscal beginning April 1, at over Rs 22.17 lakh crore. The revised estimates of gross tax revenue for the current fiscal has been pegged at Rs 19 lakh crore, lower than the Rs 24.23 lakh crore budgeted earlier. Economic Affairs secretary Tarun Bajaj said, "Our revenue figure is under-stated not overstated.
The upcoming Union Budget to be presented on February 1 is likely to assume a nominal gross domestic product (GDP) growth between 10 and 10.5 per cent for FY26, a Business Standard poll of 10 economists showed. The first advance estimates released by the National Statistics Office (NSO) had estimated a nominal GDP growth of 9.7 per cent for FY25. Nominal GDP, calculated at current market prices, factors in the effect of inflation. It is used as the base to calculate crucial macroeconomic indicators, such as fiscal deficit, revenue deficit, and debt-to-GDP ratio.
Three months after coming to power, the ruling Congress on Thursday passed an order setting up the inquiry panel led by retired HC judge Justice Nagamohan Das, fulfilling one of its key promises made in the run-up to assembly polls.
'As the Budget has taken some measures to spur growth, similar action from the MPC may be expected.'
Domestic rating agency Icra on Wednesday said India's real GDP growth for the September quarter is likely to decline to 6.5 per cent due to heavy rains and weaker corporate performance. The agency, however, maintained its FY25 growth estimate at 7 per cent on expectations of a pick up in economic activity in the second half of the fiscal.
India's most valued company, Reliance Industries Ltd (RIL), reported a robust performance in the third quarter of the current financial year (Q3FY25), surpassing analyst expectations. This coupled with positive commentary by brokerages led to the stock of the oil-to-telecom conglomerate surging as much as 4.44 per cent to hit an intraday high of Rs 1,325.1. It settled at Rs 1,301.3 apiece, up 2.57 per cent.
The Centre for Monitoring Indian Economy on Monday revised its projection of the GDP during 2003-04 to 8.2 per cent, much higher than the earlier forecast of 7.4 per cent.
Global brokerage CLSA has lowered its target price for IndusInd Bank from Rs 1,200 to Rs 900 while maintaining an outperform rating on the stock after the private lender disclosed a net worth hit of Rs 1,500 crore due to an accounting gap. The revised price target still implies an upside of 34 per cent from current levels.
'We now look at divestment as an opportunity for maximising the value of public assets, not necessarily as a short-term resource-raising measure.'
The rise in the fiscal deficit, which is a reflection of the government's borrowing, was mainly on account of subdued tax collection. The revenue deficit also rose to 3.27 per cent, up from the revised estimate of 2.4 per cent of the GDP.
Indian Railways has managed to improve its freight volumes each year since the pandemic. However, its inability to add new industries and goods will pose a challenge for the national transporter in the wake of it setting an ambitious target of 45 per cent share in the national logistics by 2030. According to officials, the ministry of railways achieved 114 million tonnes (mt) of miscellaneous goods (classified as balance and other goods) in 2023-24.
Automobile giant Tata Motors' shares were in demand on Wednesday as the stock rallied as much as 3.69 per cent to hit an intraday high of Rs 671.80 per share, before settling 3.18 per cent higher at Rs 668.45. By comparison, the BSE Sensex settled 0.10 per cent, or 72.56 points, lower at 74,029.76.
'The Budget needs to focus more on social welfare schemes.'
Alloting more funds for MNREGA and PM-KISAN could wipe out the entire additional money that the Centre may have for FY25.
India's industrial production growth slows to 3.2 per cent in December 2024, mainly due to poor performance of mining and manufacturing sectors, according to official data released on Wednesday. The government has also revised the November 2024 IIP figure to 5 per cent from the provisional estimate of 5.2 per cent released in the previous month.
The push to develop Ayodhya as a tourism centre, accompanied by large-scale infrastructure projects, comes on the back of years of limited income growth and tourist inflows.
Auto parts exports from India may see a slight slowdown as US President Donald Trump's 25 per cent tariff could increase car prices for buyers by 8-25 per cent, thereby affecting demand, experts believe.
Earlier, proceeds from disinvestment were shown separately as part of the miscellaneous receipts in the Capital Receipts Budget.
The agency received Rs 911 crore to manage its affairs in the Budget Estimates for 2022-23, which was later decreased to Rs 906.59 crore in the Revised Estimates.
India's services sector activity witnessed a sharp uptick in February boosted by improving domestic and international demand, which resulted in a quicker expansion in output and a substantial increase in employment, a monthly survey said on Wednesday. The seasonally adjusted HSBC India Services PMI Business Activity Index rose from January's 26-month low of 56.5 to 59.0 in February, indicating a sharp rate of expansion.
The defence budget was on Thursday increased to Rs 6.21 lakh crore for 2024-25 in a modest hike of 4.72 per cent from last year's allocation of Rs 5.25 lakh crore amid India's continuing border row with China in eastern Ladakh as well as concerns over evolving security situation in the strategic waterways.
The government had set a budgetary target of over Rs 1.87 lakh crore for collection from customs duty in current fiscal
The state's economic health is in focus as it has consistently breached the fiscal deficit in eight of the last 10 years since Telangana's formation.
More than half of the total subsidy provisioning, amounting to 54 per cent, is going towards food subsidy, which is estimated at Rs 184,220 crore for 2019-20 - a 7.5 per cent increase over the revised estimates for 2018-19.
Equity markets will take cues from the US tariff related developments, global trends and trading activity of foreign investors this week, analysts said.
In the Union Budget for 2021-22 presented by Finance Minister Nirmala Sitharaman on Monday, the force received Rs 429.05 crore, an increase of Rs 2.78 crore (or 0.65 per cent hike) from the last budget.
In his interim budget on February 17, Finance Minister P Chidambaram said the fiscal deficit would not cross 4.6 per cent of GDP, revising an earlier target of 4.8 per cent.
State Bank of India, Adani Ports, Tata Consultancy Services, ICICI Bank, Reliance Industries and PowerGrid were also among the laggards.
Subsidy bill on food, petroleum and fertilisers is estimated at Rs 1,79,554 crore.
Real estate developers are hoping that the slew of tax concessions announced in Union Budget 2025, set to take effect this financial year, will spur demand for affordable and mid-segment housing, even as the broader housing market shows signs of fatigue.
