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  • The Auto sales have been good for the month of Feb 24 and should be good in March as well. The Auto cycle looks quite strong. A lot of two wheeler drivers will shift to four wheelers and a lot of direct new four wheeler drivers are getting added. As people start living on the outskirts of the city in a 50-70 km area, need for four wheelers is on a rise. More infrastructure, more overbridges, multi-modal and multi-junction bridges will be needed to streamline traffic.
  • The Indian Government has now publicly said that the projects under PLI schemes are getting on stream slowly and steadily. The Government is trying to give more PLI schemes for the vertical integration of PLI products. It means that if they have given PLI schemes for manufacturing APIs, now they are giving schemes for the basic chemicals needed for APIs. So the Government is targeting the entire chain.
  • We can already see mobile manufacturing, semiconductor plants, Electronics manufacturing etc getting on-stream in the next few years. The country is all out targeting entire new businesses right from space, defence, electronics, AI, Computer manufacturing etc.
  • GST mop up grew about 12.5% to over Rs 1.68 trillion in February.
  • Forex reserves jump to about $619.1 billion in February.
  • FIU imposes Rs 5.49 crores penalty on PayTM bank for PMLA violations.
  • Adani group plans to invest Rs 3000 crores in the manufacturing of ammunition and missiles.
  • Indian Government could consider an export tax on low grade iron ore after small steel producers urged the government to curb its overseas sales.
  • Reliance Ind has commissioned Compressed Biogas plants on a commercial scale at Barabanki. Could scale it up to 25 CBG plants across India. Reliance wants to establish around 100 such CBG plants in the next 5 years consuming around 5.5 million tons of waste and stopping around 2 million tons of carbon emissions and producing around 2.5 million tons of organic manure annually.
  • Toll collection on national highways surpassed Rs 50000 crores till January end.
  • Vodafone Idea plans to raise Rs 45000 crores through equity and debt.
  • Ford likely to drive back to India with EV, hybrid focus.
  • India’s top conglomerate Reliance Industries and Walt Disney on Wednesday announced the merger of their India TV and streaming media assets, creating an $8.5 billion entertainment juggernaut far ahead of rivals in the world’s most populous nation.
  • Reliance Consumer to bring Sri Lankan beverage Elephant House to India.
  • April to Jan fiscal deficit narrows to 63.6% of FY 24 aim.

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