Against FY17 target of Rs 56,500 cr, Centre plans to fetch around Rs 6,400 cr in the first half.
On the complaint of shortage of foodgrain, the minister said lifting of foodgrain by states/Union Territories under TPDS and other welfare schemes has been less than the allocation made to them.
Inflation stood at 5.48 per cent in the previous week and 4.56 per cent in the corresponding period of the previous year.
The Railways have revised upwards the target for originating revenue earning freight traffic to 515 million tonnes in the revised estimates for 2002-03, five million tonnes more than the original target.
Whether she will pare the fiscal deficit target of 5.1 per cent of GDP, using the record dividend received from the RBI, or expand flagship government programmes will be keenly watched.
Is it a case of poor targeting of a welfare scheme, or is it a reflection of the government's desire to expand the scope of this benefit to secure greater electoral dividends? asks A K Bhattacharya.
The Indian economy is likely to post better than anticipated growth in the second quarter (July-September) owing to robust urban consumption and expansion in services, a Business Standard analysis of high-frequency indicators showed. While gross domestic product growth in the September quarter is expected to come below the 7.8 per cent print in the June quarter due to a favourable base fading, analysts say the print will be much closer to 7 per cent than the 6.5 per cent anticipated earlier. While the Reserve Bank of India (RBI) had estimated 6.5 per cent growth for July-September, last month Governor Shaktikanta Das said the growth figure would surprise on the upside.
On one hand, Operation Greens should help to smoothen volatility in the prices of vegetables, whereas the proposal to enhance and extend minimum support prices to augment farmer incomes, may emerge as an inflation risk.
Berger Paints, the country's second-largest decorative paint maker, continued to outperform its peers and gain market share in the 2023-24 (FY24) October-December quarter (third quarter, or Q3). The company posted a consolidated revenue growth of 7 per cent compared to the year-ago quarter, surpassing Asian Paints (5.4 per cent) and Kansai Nerolac Paints (5.7 per cent).
The weak April-June quarter (first quarter, or Q1) results of the largest listed specialty chemical maker, SRF, and multiple global headwinds for the sector are expected to weigh on the prospects of Indian specialty chemical companies in 2023-24 (FY24). Stocks in the sector (down 7-18 per cent) have underperformed the benchmarks (up over 10 per cent) in the past three months, and given the multiple challenges, the trend is likely to continue. Kotak Institutional Equities expects a very weak quarter (Q1FY24) for the sector due to destocking, demand weakness across certain critical end-use industries, and price erosion amid intense competition from Chinese suppliers.
There is certainly something missing with the way poverty is measured in India.
Sources in the Delhi government said the ministry of home affairs has stopped the Kejriwal government's budget and it will not be tabled in the assembly on Tuesday.
Rajeev Mehta, chief executive for IT services, believes this is due to a few client-specific issues, saying the overall business environment continues to look good.
More services such as ATM operations are proposed to be brought within the service tax net.
Defence exports grew 33 per cent in the calendar year 2023 (CY23) to around Rs 21,083 crore while domestic defence orders serviced by listed companies were Rs 48,000 crore. The sector is poised for steady growth. Budgeted domestic capex is likely to hit Rs 3 trillion per annum, and exports could reach $6 billion by FY29.
There is lack of scientific basis in computing the poverty line, says govt.
In its report, 'Global Economic Outlook: December 2011', the agency said the Indian economy is likely to regain the 8 per cent economic growth trajectory only in 2013-14.
Choppers belonging to the Western Air Command carried out over 50 sorties over the last 48 hours, rescuing over 780 citizens in the flood-affected areas of Kangra district in Himachal Pradesh, Indian Air Force officials said.
'In equities, it has diversified portfolios.' 'So the short-term movement of individual stocks does not impact them.'
The government contained its fiscal deficit, the gap between overall expenditure and receipts, at 4.7 of GDP during 2010-11 much lower than the revised estimate of 5.1 per cent, a development which provide much needed comfort to the Centre fighting stubborn inflation.
The net collections for Corporate Income Tax (CIT) showed a growth of 19.2 per cent and Personal Income Tax (PIT) at 18.6 per cent.
The manufacturing sector during the fourth quarter recorded a growth rate of 9.3 per cent while the farm sector grew at 2.3 per cent.
The GDP growth is estimated to come at the "deceptively high" level of 20 per cent for the April-June 2021 quarter but is far below the same in the pre-COVID times, rating agency Icra said on Wednesday. Icra said the low base of the last year, when the GDP had contracted by close to 24 per cent, "conceals" the impact of the second wave of COVID-19 infections. Economic activity is boosted by robust government capital expenditure, merchandise exports and demand from the farm sector, it said, estimating the GDP to grow by 20 per cent and the gross value added (GVA) will register a growth of 17 per cent for the June quarter.
The Gross National Income (GNI) at 2011-12 prices is now estimated at Rs 112.13 trillion as against Rs 112.14 trillion estimated earlier for 2015-16.
Finance Minister P Chidambaram set apart Rs 45.50 crore for its preparations.
The railways total earnings recorded an 8.3 per cent growth at Rs 33,900 crore (Rs 339 billion) up to December this year as compared to the corresponding period in the previous year.
As many as 267 of 453 companies from the BSE500 index are trading above their consensus price targets, according to the data compiled by Bloomberg. Not all companies in the BSE500 index are tracked by analysts.
In the Union Budget presented in Parliament by Finance Minister Nirmala Sitharaman, a total of Rs 1,52,369 crore has been set aside for capital expenditure that includes purchasing new weapons, aircraft, warships and other military hardware.
Outlay for the prestigious Indian Institutes of Technology has come down from Rs 1,665 crore (Rs 16.65 billion) in 2009-10 (revised estimates) to Rs 1,600 crore (Rs 16 billion) in 2010-11.
Nirmala Sitharaman has designed the revenue mix in such a way that while Centre's share in taxes would grow a massive 25 per cent, states' share would grow a dismal 6 per cent.
The finance ministry may succeed in collecting over Rs 2,52,900 crore (Rs 2,529 billion) in taxes to meet the revised estimate for 2003-04 despite hefty refunds.
ABB India's March quarter results (Q1CY24) were led by strong margin performance. Revenue was, however, largely in line with estimates at Rs 3,080 crore (up 28 per cent Y-o-Y and up 12 per cent Q-o-Q). The growth was across electrification (30 per cent Y-o-Y), process automation (73 per cent Y-o-Y) and robotics & motion (8 per cent Y-o-Y).
More people opting for work under the scheme would aggravate the shortage of workers in farms.
Securing the GDP estimates a month in advance would be a challenge and the government should take the Central Statistics Office on board before embarking on the new schedule for Budget presentation
An aggressive disinvestment agenda and the auction of spectrum for third-generation mobile telephony allowed the government to project non-tax revenue of Rs 148,118 crore (Rs 1481.18 billion) in 2010-11, an increase of Rs 35, 927 crore (Rs 359.27 billion) or over 30 per cent from the revised estimate of Rs 112,191 crore (Rs 1121.91 billion) in 2009-10.
Though levy of service tax on domestic air travel is negative, given the rebound in air travel, the players can fully pass on the impact to customers through hike in fares
The fiscal deficit, which is the difference between total expenditure and revenue, as percentage of GDP will come down from 6.9 per cent in the revised estimates for the current fiscal, he said unveiling the 2010-11 Budget in the Lok Sabha.
