The stellar rise in corporate earnings in financial year 2021-22 (FY21) and FY22 did not result in a corresponding boom in capital expenditure (capex), with listed companies' investment in fixed assets rising just 2.3 per cent year-on-year (YoY) in FY22, growing at the slowest pace in the last six years. In comparison, the firms' combined net profit jumped 63.5 per cent YoY in FY22, while net sales increased 31.1 per cent - the fastest pace in over a decade. The 955 non-financial companies in Business Standard's sample reported combined net profit of Rs 7.18 trillion in FY22, compared with Rs 4.39 trillion in FY21 and Rs 2.59 trillion in FY20.
United Arab Emirates-based low cost airline Air Arabia will operate seven additional flights from Mumbai to Sharjah from September 7-15.
'The economic crisis hit us from nowhere. No one saw it coming.'
With intermittent disruptions in the supply chain of raw materials from China, the Indian pharma industry has braced itself with bigger inventory. Even smaller drug makers are now carrying a month of buffer stock of key raw materials, said industry insiders. The lockdown in various Chinese provinces, including Shanghai, is likely to delay shipments by two weeks to a month, said domestic players. Shipments are critical for the Indian drug industry, which imports 70 per cent of its raw material from China.
The World Bank has retained India's economic growth forecast for the current fiscal at 8.3 per cent as the recovery is yet to become broad-based. As per the first advanced estimates of the national income released by the National Statistical Office (NSO) last week, the economy is projected to grow at 9.2 per cent in 2021-22, surpassing pre-COVID level in actual terms, mainly on account of improved performance, especially in farm, mining and manufacturing sectors. "India's economy is expected to expand by 8.3 per cent in fiscal year 2021/22 (ending March 2022), unchanged from last June's forecast as the recovery is yet to become broad-based.
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India must remain an integral part of the global economy if it has to grow at 9-10 per cent over the next three decades, Niti Aayog CEO Amitabh Kant said on Tuesday. Speaking at the 15th India Digital Summit, Kant said India needs to become a major global exporting nation, without that it will not be possible to become richer and create wealth for its people over the next three decades.
According to the MeT Department, the city received 145 mm rainfall since the previous day, the highest for this date in a decade.
Afghanistan spinner Rashid Khan, who will turn out for Gujarat Titans this season, says he is never bothered by conditions.
The Thiruvananthapuram-bound train will leave Chennai on Mondays, Tuesdays, Wednesday and Fridays.
Though markets and commercial establishments remained shut and students stayed away from schools.
The situation in and around Lailapur, which was rocked by deadly violence, along the interstate border remained calm with a large number of Central Reserve Police Force troops patrolling the National Highway-306, they said.
In years past, we often approached the Budget expecting to see changes in direct and indirect taxes. Those days are behind us. The Budget of today seeks to expand the economy and keep it at the forefront of technology, observes Harsh Goenka.
Hardik Pandya garners praise as he guides GT to playoffs
'Happiness is feeding birds,' the Indian opener declared, but the boatman may lose his license to ply.
'Unemployment barely figures in the Budget except as a derived demand from the industry and infrastructure.' 'There is no effort at direct attack on unemployment.'
A railway station and a police vehicle were torched and several law enforcers injured in stone-pelting incidents on the fourth consecutive day of protests against Agnipath scheme on Saturday when a bandh was also called to press for the demand for rollback of the new scheme for recruitment in armed forces.
According to the Central Pollution Control Board (CPCB), the 24-hour average concentration of lung-damaging fine particles known as PM2.5 in Delhi-NCR shot up from 243 micrograms per cubic metre at 6 pm on Thursday (Diwali day) to 410 micrograms per cubic metre at 9 am on Friday, around seven times the safe limit of 60 micrograms per cubic metre.
Finance Minister Nirmala Sitharaman is likely to strike a fine balance between being fiscally prudent and growth supportive when she presents her fourth straight budget on Tuesday, which is expected to have plans to boost spending to revive investment and create jobs. The Budget for the fiscal year starting April 1, 2022 is likely to raise spending on infrastructure to set the economy on a firmer footing. The stage for the Budget presentation was set by the Economic Survey stating that the government has the fiscal space to do more to support the economy that is forecast to grow at a healthy 8-8.5 per cent growth in the 2022-23 fiscal.
According to officials, inflammatory speeches were made during a protest against derogatory remarks made against Prophet Mohammad by now-suspended Bharatiya Janata Party spokesperson Nupur Sharma.
Incessant showers caused landslides and floods in various parts of the country leaving at least 17 people dead on Wednesday while thousands more were forced to move to safety as rivers swelled and water reservoirs filled up fast.
Police are probing various angles, including the assailants coming from neighbouring Kerala.
In the clip, which went viral on social media, an announcement on a truck-mounted sound system was heard about the call to boycott the community members, accusing them of spreading violence in Khargone.
Niti Aayog CEO Amitabh Kant on Tuesday said it is difficult to carry out tough reforms in India and emphasised that more reforms are needed to make the country competitive in the global environment. Addressing a virtual event organised by Swarajya magazine, Kant said for the first time, the Centre has carried out hard reforms across sectors, including mining, coal, labour, agriculture, and the next wave of reforms must be pushed by the states.
'There were two options before the government -- create a complex, cumbersome law, which will cause a tremendous amount of compliance challenges for startups or say let's go back and do a clean slate, where we do a framework of laws and policies'
In August 1998, the observatory had received 261.9 mm rainfall in 24 hours which was a record for the month till now, but Wednesday's rain broke it within only 12 hours.
Jugraj made his International debut against France during the FIH Hockey Pro League matches in South Africa
Ezra Moseley featured in two Tests against England in 1990 and also played nine ODIS between 1990 and 1991. He went to the rebel tour of South Africa back in 1982-83 and was banned.
Prime Minister Narendra Modi is likely to flag off the train soon, which will ply between Delhi and his Lok Sabha constituency.
Security bunkers manned by the central armed paramilitary forces are being set up in many areas of Srinagar where these were removed between 2011 and 2014 following the overall improvement in the security situation across Kashmir.
The 'unlocking' comes as COVID-19 cases have seen a steady fall in recent weeks.
The 'yellow' alert restrictions stipulate that shops and establishments of non-essential goods and services and malls will open based on odd-even formula from 10 am to 8 pm.
The US tech major is planning to begin local production of its upcoming iPhone 12 by next April - within six months of its launch.
With the COVID-19 positivity rate touching 0.55 percent, the Delhi government has decided to re-impose night curfew from Monday, according to sources.
The government may tweak customs duties in the Budget next week on several goods, including furniture raw materials, copper scrap, certain chemicals, telecom equipment and rubber products, to promote domestic manufacturing and exports, sources said. They said that while import duties could be tweaked on over 20 products such as cut and polished diamonds, rubber goods, leather garments, telecom equipment and carpet, the customs duties could be removed on select raw materials (like wood in rough, swan wood and hard board) used for furniture manufacturing and copper concentrate.
IMD expects day temperatures to remain above-normal in select regions across the country between March and May 2021.
India will need $8 trillion (around Rs 588 lakh crore) of gross capital formation or new greenfield assets to become a $5 trillion (around Rs 368 lakh crore) economy by FY2027, a report said. The report by Deloitte said despite the COVID-19 disruption, FDI inflow into the country provides necessary optimism and display underlying strengths of the Indian economy. In FY2020-21, FDI inflows (including equity, re-invested earnings, and capital) amounted to a record $81.72 billion, 10 per cent higher than the previous financial year, it said.
Walmart-owned Flipkart on Wednesday said it has eliminated all single-use plastic packaging used across its fulfilment centres in the country. With this, the e-commerce major has delivered on its public commitment to move to plastic-free packaging in its supply chain by 2021. This has been achieved across more than 70 facilities of Flipkart spread all over India, where it has eliminated single-use plastic packaging by introducing the most scalable sustainable alternatives, a statement said.
He alleged that the BJP made people burst firecrackers on Diwali.
There was an environment of "indifference" towards the use of technology in governance before 2014 due to which the poor and the middle class suffered the most, Prime Minister Narendra Modi said on Friday. He asserted the current government has ensured last-mile delivery of services with the help of technology, including drones. Addressing a gathering after inaugurating India's biggest drone festival in Delhi, he said, "At a time when we are celebrating Azadi ka Amrit Mahotsav, it is my dream that everyone in India should have a smartphone in his or her hand, every farm should have a drone and every house should have prosperity." The enthusiasm being seen in India about drone technology is amazing and indicates possibilities of an emerging sector of employment generation, the prime minister said.
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