Global funds, according to Christopher Wood, global head of equity strategy at Jefferies, are now beginning to pay more attention to India with the market now offering 30 companies with a market capitalisation over $25 billion.
'Challenge is basically near-term growth as the outlook has turned a bit adverse.'
Union Cabinet on Thursday approved two major schemes -- PM Rashtriya Krishi Vikas Yojana and Krishonnati Yojana -- with an expenditure of over Rs 1 lakh crore to promote sustainable agriculture and ensure food security.
The Enforcement Directorate (ED) has summoned Trinamool Congress MP Abhishek Banerjee to appear before it in Kolkata on November 9 in connection with the alleged school jobs scam, a TMC leader said on Wednesday.
He asserted that it was time to "throw such forces out" to protect "mati, beti, roti" (land, daughter, bread).
All investors should ideally have a 10 to 15 per cent allocation to gold. Whether they invest in gold ETFs or SGBs should depend on their investment horizon.
'When people have money in their hands, they make their judgment about whether they want to spend it entirely or spend some out of it.'
The Supreme Court of India expressed deep concern over the rising drug abuse problem in the country, highlighting the impact on youth and the need for urgent intervention. The court emphasized the need for rehabilitation rather than demonization of drug users and called for open discussions to address the issue. The judgment came while granting bail to a man accused in a heroin smuggling case. The court cited a 2019 report that indicated a significant number of people in India use opioids, cannabis, and other substances, with alarming trends in opioid dependence.
An Enforcement Directorate team undertaking searches in a cyber fraud linked money laundering case was allegedly attacked in New Delhi on Thursday, officials said.
Two passengers died and 75 others were rescued after a speed boat crashed into a ferry off the Mumbai coast. The ferry, carrying 80 passengers and five crew members, was on its way to Elephanta Islands when the speed boat circled it before crashing into it. The Navy and Coast Guard launched a massive rescue operation, with 11 Navy boats, three Marine Police boats, and a Coast Guard boat deployed. Four helicopters were also involved in the search and rescue operation. Police, Jawaharlal Nehru Port Authority personnel, and local fishermen are assisting in the rescue efforts. Chief Minister Devendra Fadnavis said that seven to eight passengers remain missing.
Prospects of a bumper kharif harvest are expected to lower food inflation in the coming months, making the country's inflation outlook benign, the Union Ministry of Finance (FinMin) said in its monthly economic report for October released on Monday.
The undistributed funds totalling over Rs 25,000 crore lying with the capital markets regulator Sebi's account have come back into focus after the demise of Sahara Group's chief Subrata Roy. Roy passed away in Mumbai on Tuesday night at the age of 75 after battling a prolonged illness. He faced multiple regulatory and legal battles in connection with his group firms that were accused of circumventing regulations with ponzi schemes, allegations his group always denied.
The US Fed rate cut of 50 basis points is unlikely to have any significant impact on foreign inflows into India, Economic Affairs Secretary Ajay Seth said on Thursday. He said the US Federal Reserve has done what it assesses is good for the largest economy in the world, but the RBI will take a decision on interest rate cut keeping the Indian economy in mind. "It is a positive for the global economy, including the Indian economy. "It is a 50 basis points cut from a high level.
The Reserve Bank on Wednesday announced the increase of the UPI Lite wallet limit to Rs 5,000 and per-transaction limit to Rs 1,000, in order to encourage wider adoption of the popular instant payment system through mobile phones. A limit of Rs 500 per transaction and an overall limit of Rs 2,000 per UPI Lite wallet, is presently applicable, with the facility of auto-replenishment. Unveiling the October bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das also said the per-transaction limit in UPI123Pay will be enhanced to Rs 10,000 from the current Rs 5,000.
The government's initiative to migrate SEZ data from NSDL software to ICEGATE system for streamlined reporting of import data caused double counting of gold imports, resulting in inflated figures and the issue has now been largely rectified, government sources said. The downward revision has provided the actual picture of trade deficit (difference between imports and exports), which was earlier looking very high. The deficit for November will now be revised downwards from $37.84 billion to about $32.8 billion. Similarly, there will be a revision in overall import numbers as well.
Chief Minister Bhupesh Baghel asked why the prime minister and Centre were scared of ordering a probe into the fraud committed by the Adani Group.
Based on the current momentum, the funds likely to be raised through the RBI's relaxed window would be $3.5 billion-$4 billion.
Even Ajmal Kasab was given a fair trial in our country, the Supreme Court on Thursday remarked and indicated it may set up a courtroom inside Tihar Jail for the trial of J-K separatist leader Yasin Malik in a kidnapping case.
The impact of the US Federal Reserve's move to cut the benchmark interest rate will be muted for India as it was mostly priced in, Chief Economic Advisor V Anantha Nageswaran said on Thursday. He said that the Indian stock market is already attracting investor interest and overall the rate cut is positive for emerging markets.
'The message that we intend to leave with at the end of this trip is one of real gratitude for the friendship and the close partnership that President Biden and Prime Minister Modi have enjoyed over the last four years, but also one of tremendous optimism because we see a lot of opportunity in the future.'
The Unified Pension System (UPS), approved by the Union Cabinet on Saturday, is "fiscally prudent" as it will be funded within the Centre's fiscal projections, according to T V Somanathan, the Cabinet Secretary-designate. Speaking to Business Standard immediately after the Cabinet nod, former finance secretary Somanathan, who headed the committee set up in March 2023 to review the National Pension System (NPS), said the UPS will not postpone pension expenditure as it will be contributory and financed each year.
Maharashtra cabinet on Thursday passed a resolution urging the central government to confer 'Bharat Ratna', the country's highest civilian award, on legendary industrialist late Ratan Tata.
West Bengal Chief Minister Mamata Banerjee on Friday wrote to Prime Minister Narendra Modi, saying that her state would sever all ties with the Damodar Valley Corporation (DVC) for 'unilaterally releasing water', which led to floods in south Bengal districts.
User protection and a proposal for a licensing framework for companies seeking to operate in the cryptocurrency area will be part of an upcoming consultation paper on the sector, said a senior industry executive. Even as specific regulations around crypto are yet to take shape, companies are setting up baseline user protection processes, including a redressal mechanism, fraud detection, regular filing of suspicious transaction reports (STRs), among others.
Under the India AI mission, supercomputing, comprising over 10,000 GPUs, will be made available to various stakeholders for creating an AI ecosystem.
'A 10 to 15 per cent allocation to gold in portfolios reduces risk without compromising on potential returns.'
The Supreme Court on Friday deferred the question of Aligarh Muslim University's minority status to a fresh bench and overruled the 1967 judgment that said the university cannot be considered a minority institution since it was created by a central law.
The Reserve Bank of India (RBI) added another 102 metric tonnes to the domestically held gold in the April-September period, as per a disclosure made on Tuesday. The overall quantity of the precious metal stored in local safes stood at 510.46 metric tonnes as of September 30, which was up from over 408 metric tonnes as on March 31, 2024. The central bank said it added another 32 metric tonnes of gold reserves in the six-month period to take the overall tonnage to 854.73 metric tonnes, as per the half yearly report on management of foreign exchange reserves.
In her Budget speech, Finance Minister Nirmala Sitharaman on Tuesday underlined the need for collaboration between the Centre and states to take up the next-generation reforms covering land, labour, capital and entrepreneurship. As far as revenue share goes, the government has projected to give about 32.5 per cent of central taxes to states during FY25, against the 15th Finance Commission's recommendation of 41 per cent, according to the Union Budget estimate.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
'Whether I am optimistic or pessimistic is not the issue; I am just going by the evidence available.' 'The Indian economy and financial sector are now well-placed and very resilient in dealing with any kind of spillover coming from the external world.'
'I don't believe there is an international conspiracy to swamp tribals in India or in Jharkhand.'
The road ahead will require navigating complex financial challenges while fostering job creation and sustainable development in the region.
The government will provide Rs 11.11 lakh crore for capital expenditure for 2024-25 and introduce viability gap funding to spur private investment in infrastructure, Finance Minister Nirmala Sitharaman said on Tuesday. Presenting the Union Budget for FY2024-25, she said that the government will endeavour to maintain strong fiscal support for infrastructure over the next five years, in conjunction with imperatives of other priorities and fiscal consolidation.
The sources claimed that one of those arrested is believed to be Arsh Dalla, who is associated with the banned Khalistan Tiger Force and ran terror modules on behalf of Hardeep Singh Nijjar, a designated terrorist who was killed in June last year.
Around 7.4 per cent of Indians aged 60 and above are affected by dementia. This number is expected to rise from the current 8.8 million to 17 million by 2036, marking a 97 per cent increase.
Terming it a "very sorry state of affairs", the apex court said the state was just trying to find some excuse or the other.
Several people are still feared trapped in the debris after a series of landslides that occurred in Chooralmala and Mundakkai of Wayanad.
Banerjee had on Wednesday said an amendment to existing laws will be passed in the state assembly next week to ensure capital punishment to convicted rapists.
Kalyan Banerjee said that he did not intend to hurt anyone but did not offer any apology for the mimicry act which has been described by Dhankhar as an insult to the post of vice-president, the farmers and his own community.
