The Indian government signalled its continued focus on bolstering the nation’s power sector by approving a nearly 14% increase in capital investment for eight state-owned power companies. Announced in the Union Budget 2024 presented on Tuesday, this move aligns with the figures outlined in the interim budget earlier in 2024. Strategic Investment Breakdown Total Allocation: …
Embracing the Prime Minister’s vision of “Working with the nation as a whole,” the Ministry of Coal is spearheading a collaborative effort to ensure a stable and affordable coal supply for India’s economic engine. Working alongside the Ministries of Railways and Power, along with other stakeholders, the initiative prioritises coal delivery at set prices for …
In recent years, India has demonstrated a concerted effort to manage its fiscal deficit, a crucial indicator of economic health. The fiscal deficit, which measures the shortfall between the government’s revenue and expenditure, has seen significant fluctuations, particularly influenced by the COVID-19 pandemic. From March 2014 to March 2019, India’s fiscal deficit as a percentage …
As the second quarter of FY25 unfolds with signs of economic momentum, the Reserve Bank of India (RBI) has underscored the importance of staying on the straight and narrow path of aligning inflation with the 4% target. This prudent approach aims to ensure long-term stability, avoiding the pitfalls of placing more value on present gains …
India’s export sector demonstrated resilience in June 2024, defying global economic uncertainties. While the initial projections anticipated a 5.40% growth in total exports for June 2024, the final figures released by the Ministry of Commerce and Industry revealed a slightly lower but positive increase of 2.55%. This brings the cumulative export growth for the quarter …
The Indian economy has demonstrated notable resilience during the April-June quarter, starting the financial year on a strong note as factory output reached a seven-month high in May. However, this encouraging performance was accompanied by a resurgence in retail inflation, which spiked to a four-month high in June, presenting significant challenges for policymakers as they …
The Index of Industrial Production (IIP) in India increased significantly by 5.9% in May 2024, compared to a growth rate of 5% in April, according to data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Friday. This rise surpassed consensus estimates, which had projected a growth of 4.9% for the month. When …
Gold defied expectations in the first half of 2024, outperforming equity markets and showcasing its enduring appeal as a safe-haven asset. Spot gold prices on the Multi Commodity Exchange surged a robust 14%, eclipsing the benchmark Nifty50 index. Globally, the yellow metal climbed nearly 13%, reaching a price tag of $2,380 per ounce, defying the …
The Government e-Marketplace (GeM) has achieved remarkable success in the first quarter of FY 24-25, demonstrating its commitment to efficient and inclusive public procurement. Soaring Growth and Sectoral Breakdown GeM’s Gross Merchandise Value (GMV) reached a staggering ₹1,24,761 crore, reflecting a massive 136% increase compared to Q1 of FY 23-24. This growth signifies the platform’s …
Deputy governor of the Reserve Bank of India (RBI), M Rajeshwar Rao, has expressed concerns over the calibre of disclosures provided by certain non-banking financial corporations (NBFCs). His point was that the auditing community plays a critical role in making sure that companies give depositors and other stakeholders the right kind of qualitative information. At …
