The real estate sector wants "high-impact" measures, like special schemes and tax breaks for developers, to revive the fortunes of the affordable housing segment in the country, multiple executives told Business Standard. This segment has been struggling since the Covid-19 outbreak, in contrast to larger and costlier homes which have been selling like hot cakes. The demand comes at a time when the government is taking suggestions from industry players before tabling the General Budget in the Parliament next month.
Retail inflation declined to a three-month low of 5.1 per cent in January, mainly due to subdued prices of vegetables, fruits and other food items, according to government data released on Monday. The fall indicates that retail inflation is inching towards the Reserve Bank's comfort level of 4 per cent. The Consumer Price Index (CPI) based inflation was on the rise for two straight months after touching a trough of 4.9 per cent in October 2023. In December, it stood at 5.69 per cent.
The generation of quality jobs and skill development should be the focal point, cutting across ministries and departments, asserts Nivedita Mookerji.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
With digital adoption fast gaining currency, India is likely to see retail digital payments double to $7 trillion by 2030 from current levels, a study by Kearney and Amazon Pay said. In the report 'How Urban India Pays', Kearney-Amazon Pay said strong adoption of digital payments in online purchases has potentially led to a permanent shift in consumer behaviours, fuelling offline adoption as well.
The NCMC facilitates convenient travel while integrating last-mile connectivity, a must in India's extensive landscape. It enables travellers to pay for a cross-section of needs, including toll tax, retail shopping, and withdrawing money.
The battle for the top spot in the two-wheeler market is intensifying. The gap between Hero MotoCorp and Honda Motorcycle & Scooter India (HMSI) in retail sales narrowed to just 45,607 units in June. This improvement comes as HMSI has clawed back market share after dipping to a historic low of 18 per cent in May 2023. Now, the retail market shares of the two companies are 28.86 per cent and 25.54 per cent, respectively, compared to 35.54 per cent and 18.05 per cent in May 2023.
Marico's January-March quarter (Q4) results were slightly better than consensus. Revenue was up by 1.7 per cent year-on-year (Y-o-Y) to Rs 2,280 crore. Ebitda grew by 12.5 per cent Y-o-Y to Rs 440 crore. Adjusted PAT was up 10.3 per cent Y-o-Y to Rs 320 crore.
Gahlot says he has no knowledge of Nair living in his official accommodation, AAP's Goa activities
The Reserve Bank of India on Friday revised upwards the GDP growth projection for the current fiscal to 7.2 per cent from 7 per cent on rising private consumption and revival of demand in rural areas. Unveiling the bi-monthly monetary policy, RBI Governor Shaktikanta Das said estimates released by the National Statistical Office (NSO) placed India's real gross domestic product (GDP) growth at 8.2 per cent in 2023-24. "During 2024-25 so far, domestic economic activity has maintained resilience," he said, adding that manufacturing activity continues to gain ground on the back of strengthening domestic demand.
A first of its kind report, it has been prepared with the support of UNDP and by eminent academicians and researchers under the supervision of JNU professor Amitabh Kundu.
'You will see him frequently asking customers -- especially retail -- about service experience, pain points, areas of improvement and suggestions.'
Fast-moving consumer goods (FMCG) companies anticipate sustained volume pressures in the January-March quarter (Q4) coupled with sluggish rural growth during the period. Brokerages estimate top-line growth to be in low single digits in the quarter. Also, the late onset of winter had an impact on demand for winter products which range from moisturisers to hot beverages.
Finance Minister Nirmala Sitharaman is likely to step up efforts to boost consumption and rural economy while keeping inflation under check when she presents her sixth straight Budget on February 1. Experts said one way to boost consumption is to put more money in the hands of people, and one of the possible ways of doing it is by reducing the tax burden through tinkering with tax slabs or increasing the standard deduction. Another proposal is related to increasing the funds under the rural employment guarantee scheme MGNREGA and higher payout for farmers.
'Without a poverty line, how are we to know whether poverty is the same, or it has come down or it has gone up?'
Modi pitched for revamping urban governance while linking it to the 'Digital India' mission and 'Swachh Bharat' campaign.
Housing sales in seven major cities rose 5 per cent annually to about 1.2 lakh units during the April-June period, while demand fell 8 per cent from the preceding quarter on surge in prices, according to Anarock. Real estate consultant Anarock, which is one of the leading housing brokerage firm, on Thursday released the data of housing market for the current April-June quarter. In April-June 2024, housing sales across seven major cities are estimated at 120,340 units, up 5 per cent from 115,090 units in the year-ago period.
Unemployment rate for persons aged 15 years or above declined to 3.1 per cent in 2023, the lowest in the last three years, as per a report of National Sample Survey Organisation under the statistics ministry. According to Periodic Labour Force Survey (PLFS) for calender year 2023, the unemployment rate came down to 3.1 per cent in 2023 from 3.6 per cent in 2022 and 4.2 per cent in 2021. Joblessness, or unemployment rate, is defined as the percentage of unemployed people in the labour force.
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.
Everyone in urban India has, on an average, a mobile connection.
'it's not just youth in India who are left behind because of their inability to find jobs; nearly two-thirds of Indian women of working ages do not participate at all in the paid labour force.'
The Enforcement Directorate questioned Delhi minister Kailash Gahlot for about five hours on Saturday and recorded his statement in connection with a money-laundering investigation linked to the Aam Aadmi Party government's now-scrapped excise policy, officials said.
The state's joblessness is three times higher than the national average of 7.8 per cent.
From residential townships to solid waste management, urban development in Gujarat is set to attract big money during Vibrant Gujarat 2011 Summit this year.
Hero MotoCorp, a major player in the two-wheeler market, has seen a 9 per cent rise in its stock since the beginning of the month. This increase, driven by the largest motorcycle company by volume, is attributed to expectations of a revival in rural sales due to normal monsoons, government measures to boost consumption, recent market share gains, and a large valuation discount compared to peers. In the near term, the company's volume performance and growth trajectory, particularly in rural markets and entry-level segments, are expected to be key drivers.
The Enforcement Directorate (ED) has attached 8.86 acres of land in Ranchi allegedly owned by former Jharkhand chief minister Hemant Soren as part of a money laundering investigation against him and his associates, the federal agency said on Thursday.
Moody's Ratings on Tuesday said India's growing water shortage can disrupt farm and industry sectors and is detrimental to the credit health of the sovereign as rising food inflation and decline in income may spark social unrest. It said decreases in water supply can disrupt agricultural production and industrial operations, resulting in inflation in food prices and hence can be detrimental to credit health of sectors that heavily consume water, such as coal power generators and steel-makers.
Bengaluru outpaced Mumbai, Delhi, and Pune in 2023 to become India's leading city for electric car registrations. The city's tech-savvy workforce, increased acceptability, zero road tax, subsidised electricity for EV charging, and a wide charging station network contributed to this surge. Electric car registrations in Karnataka's capital surged more than threefold in 2023 to 8,690 units, overtaking the growth witnessed in the other three cities, according to data from Jato Dynamics
From its lows this month, the stock of Bharti Airtel is up 14 per cent. The gains for the telco have come on the back of expectations that market share consolidation, tariff hike and lower capex should boost margins and profits. While the company is a key player in the Indian market, it also has a leadership position in major markets of Africa.
The Reserve Bank of India on Thursday projected a GDP growth of 7 per cent for 2024-25 financial year, which is lower than the 7.3 per cent expansion estimated for the current fiscal. Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said rural demand continues to gather pace, urban consumption remains strong and investment cycle is gaining steam on the back of increased capex.
The existing urban space is rapidly declining, the quality of life in Indian cities is among the worst in the world.
The Enforcement Directorate on Monday arrested Delhi minister Satyendar Jain in connection with a money laundering case, officials said.
Maruti Suzuki says it has sold at least one car in 418,000 villages.
Retail inflation rose at the fastest pace in four months in December 2023 at 5.69 per cent, on account of an increase in prices of vegetables, pulses, and spices, according to government data released on Friday. The annual inflation based on Consumer Price Index (CPI) was at 5.55 per cent in November and 5.72 per cent in the year-ago month. As per the data released by the National Statistical Office (NSO), the rate of price rise in the food basket, which constitutes nearly half of the CPI, increased to 9.53 per cent in December 2023, as against 8.7 per cent in the preceding month, and 4.19 per cent in December 2022.
Rural inflation running higher than urban: HSBC
The challenge is making governments at the Centre and in the states start focusing on the needs of towns and cities
Since 2008, the Bureau of Energy Efficiency is running a star rating programme, under which electric equipment are rated according to their efficiency. This in turn helps the consumers save electricity.
Expenditure on food articles as a proportion of monthly expenditure is decreasing.
'We are seeing signs of improvement in rural overall in terms of demand, but I would still keep my fingers crossed.'
'Due to rural stress, volumes continue to remain an issue for the industry, and we are yet to see any revival in demand.'
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