13/01/2025
Ayodhya takes over Taj Mahal and becomes the top tourist destination in UP.
MF AUM have hit all-time high of Rs 67.81 lakh crores.
India plans to supply LNG to Sri Lanka for its power plants.
India’s trade deficit in November stood at a record $37.8 billion. This is really quite high. Gold imports jumped nearly 50% in November 2024 to $49.08 billion after the Government reduced the customs duty to 6% from 15% in July. Gold is contributing a major portion towards the imports.
If the high trade deficit continues for a couple of months, we could see the rupee depreciate a bit. Pharma sector will benefit from Rupee depreciation. IT sector will benefit partially as about 50% of their costs are in dollar terms.
Public Sector Banks step up hiring. SBI announces mega recruitment drive for 13735 clerks.
Amazon aims for 2 million jobs in India by 2025, expands export pledge to $80 billion by 2030.
Net direct tax collection rises 16.45% to Rs 15.82 trillion till December 17.
A little higher trade deficit has resulted is some depreciation in rupee. In the last 10 years, rupee had depreciated from Rs 68-69 to around 83.9 that is around 21.5%. It means a simple about 2% depreciation every year. That is much lower than it happened during the earlier regime of 10 years between 2004-2014. Rupee depreciated by 52% during these earlier regime, about simple 5.2% every year. So, we have done much better on this front in last 10 years.
Centre urges states to expedite tap water connections for 40 million rural homes.
Renewable energy financing soars 63% in 2023, solar leads the charge.
The Energy sector in India has not delivered any decent returns since 2008. Even after 16 years, this sector has not delivered much returns. May be the next few years, we could see this sector deliver. Refining margins across the World were at multi decadal low, even marketing margins might be quite low globally. The Power Generation sector has not delivered much despite its criticality. The Governments across the World will have to let these capital intensive sectors make more money to justify investments.