'The current financial year will see the full impact of this crisis, and we will start seeing the recovery in the next financial year.'
About 18 months after its entry in India, a Spotify listener spent an average of 97 minutes on the app, almost ten times more than any other streaming music brand.
With India's GDP clocking a lower contraction of 7.5 per cent in the September quarter, industry and experts expressed confidence of further recovery in the coming months and said the government's actions are bearing fruit. In a tweet, Vedanta chairman Anil Agarwal said, "Q2 #GDP numbers show that economy is recovering. Government's efforts on stimulus and reform are showing results. Hopefully, we will have positive growth in H2 FY21 and double digit growth in FY22."
Mobile phones, televisions, refrigerators, laptops and stationary items will be allowed to be sold through e-commerce platforms like Amazon, Flipkart and Snapdeal from April 20 during the lockdown, officials said on Thursday. The clarification from a senior home ministry official came a day after Union home secretary Ajay Bhalla issued revised guidelines for the extended lockdown period till May 3.
While Wipro leads the pack on absolute numbers, analysts for Infosys for reporting consistent growth, revising FY22 guidance and beating TCS on revenue growth.
Union Minister Nirmala Sitharaman was on Monday critical of RBI Governor Raghuram Rajan's description of Indian economy as the "one-eyed king in the land of the blind", saying better words should have been used.
The government has extended excise duty concessions beyond 30th June 2014 for a period of 6 months up to 31st December 2014.
Chinese manufacturers are re-routing their products through the markets of other countries that India has Free Trade Agreements with.
Remove 10 per cent Excise Duty on Branded Garments or reduced it to 1 per cent level in line with 130 Other Items. Extend benefits of Section 35 (2AB) of the Income Tax Act (deduction of 150 per cent of the expenditure incurred on In-house Research and Development Facility by any Company engaged in the business of Manufacture or Production of any Article or thing specified in the Eleventh Schedule).
Capital goods stocks rallied nearly 16 per cent since January on purchases by foreign institutional investors and in anticipation of a change of government at the Centre.
'If the RBI reduces the rate of interest, housing demand can pick up, investment can pick up, automobile demand can pick up...'
The contraction in November this year is the second biggest fall in the current financial year.
'Their income will reduce, but not the fees.'
Increasing the duties on auto parts and putting an additional cess on petrol and diesel could drive up costs of vehicles, specially where volumes are low and localisation is not viable.
The government has also hiked excise duty by 11 percent, which is in addition to the 6 per cent that was announced in the budget, he said.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 12 per cent rise in December quarter net profit on improving oil-to-chemical business, strong continued momentum in retail and steady telecom unit Jio.
'I don't believe the talk of free will.' 'They are either forced to dress like this, or indoctrinated.'
HR guru Mayank Rautela provides a three-point plan.
It plans to use it as collateral, along with forex reserves, to print currency.
SEZs account for just about a third of India's merchandise exports (and roughly the same proportion of services exports). Yet, the notion of creating global manufacturing centres of the kind that propelled China to superpowerdom retains a durable appeal within the Indian policy-making establishment, notes Kanika Datta.
The country's narrowing power deficit and increased coal production may not be indicators of the end of stress in the industry. Amritha Pillay reports.
Industry body Assocham said the focus continues to be on rising inflation and not on the country's economic growth.
The American investment bank also upgraded the stocks of both these companies to 'buy' from 'underperform', saying improving industry trends such as signs of ticket price hikes and reduced capacity will improve profitability.
Hopes of revival and earnings growth in 2020, surprise tax cuts, and robust foreign flows - thanks to easy global monetary policies - are a few reasons why the markets have managed to digest the low GDP footprint. Select bluechips such as Reliance Industries, Bajaj Finance, Asian Paints, and ICICI Bank have gained sharply this year. On the other hand, YES Bank, Zee Entertainment, and Indiabulls Housing have seen a sharp fall.
Import segments which recorded negative growth include gold, silver, transport equipment, coal, fertiliser, machinery and machine tools. However, exports of oil seeds, coffee, rice, tobacco, spices, pharma, and chemicals reported positive growth in June.
The real estate industry will witness new launches in the premium residential segment in 2011, on the back of demand revival and good prospects in the economy, albeit at a slower pace.
The move will primarily impact luxury car companies like Mercedes Benz, BMW, Audi and Volvo and bike brands like Triumph and Harley Davidson.
With assets depreciating over time, it will lead to large haircuts for lenders and creditors, say experts
The lockdown has taught companies a lesson or two on running business with fewer human resources. These lessons are unlikely to be forgotten, observes Mahesh Vyas.
He did not believe in any fiscal puritanism. In 2012, when it was almost certain that the government will breach the 2012-13 fiscal deficit target, he wrote that in abnormal times, abnormal measures are required to get back to normalcy.
Pawan Ruia has finally done it, a beaming Buddhadeb Bhattacharjee, then West Bengal chief minister, had said at the reopening of the 70-year-old Sahagunj factory owned by Dunlop in 2005. But with the Calcutta high court passing a winding-up order in 2013 and the Trinamool Congress-led state government passing a Bill to take over the company in 2016, the once-upon-a-time undisputed leader in the Indian tyre industry looks vastly undone. But that can hardly be a deterrent for Ruia, who has a penchant for making headlines one way or the other.
'A bold, progressive step forward,' Kotak Mahindra Bank CEO Uday Kotak said of Nirmala Sitharaman's corporate tax breaks.
'If the government spends Rs 10 lakh crore this year then you would be looking at a GDP growth of minus 5 per cent.' 'If you do not do this, you will be looking at GDP growth between minus nine and minus 10 per cent.'
The key demand drivers -- such as low home loan rates and income tax sops, particularly for affordable housing -- that supported the recovery in H2 FY2021, remain in place and will spur recovery again, feel experts.
Majority of respondents feel that the government in the forthcoming Budget will increase the standard deduction and give more incentives for housing loans.
Within two weeks of many airlines deciding to roll back salary cuts encouraged by a steady increase in traffic flow, a second wave of coronavirus along with rules of compulsory RT-PCR test has hit forward bookings. The fears of last summer, when the pandemic had overturned all the wisdom of airline boardrooms, have returned to haunt the aviation industry. According to an official in the Ministry of Civil Aviation, flight occupancy is down to 60 per cent from 70 per cent in the first week of March. Airline lobby group IATA estimates that low cost airlines need to fly at 80 per cent occupancy to be profitable.
Exports rise for 8th month, albeit at lower pace
They feel reducing policy rates will help to boost production and revive the economy.
The level of optimism about business environment among chief financial officers in the country declined in April-June.
'They want (the ownership and management of PSU banks) to pass into the hands of a private sector entity.' 'Ownership of these banks will go from the public sector to private sector.'
