30/09/2024
The Indian growth story for the next couple of decades is big. India will grow rapidly faster than other major dominant economies of the World. Nobody can ignore India and everyone will want to have a piece of India cake.
India will do very well, if the Western World adopts electric vehicles faster and stops using crude oil. India will also do very well, if it can further hasten up electronics and IT hardware manufacturing in India. These two are the major import items and any drastic reduction in imports could help India get a trade surplus, currency appreciation, ratings upgrade transforming India on the global table.
GST collections for the month of August stood at 1.59 lakh crores and are slowly and steadily inching higher. About 11% growth as compared to last August but a three-month low.
NPS surpasses Rs 10 lakh crore AUM mark. It is a remarkable 25% YOY growth.
Most Auto makers have reported recent growth in August figures. That is quite a good growth on a high base.
India’s manufacturing activity as measured by Purchasing Manager’s index has rose to 58.6 in August from 57.7 in July. Good rise.
Royal Enfield launches all new Bullet 350 at Rs 1.73 lakh.
Tiger Global, DST Global sell 1.8% stake in Zomato for Rs 1412 crores.
SEBI notifies stricter delisting rules for non-convertible debt securities.
Sun Pharma to spend 7-8% of sales on R&D activities this fiscal.
Jio Finance has entered the mutual fund and fund management business. Now, they are talking about entering insurance sector.
Isha Ambani now appointed on the board of Reliance while Nita Ambani has resigned. The new generation is now being given positions of responsibility.
BPCL outlines about Rs 1.5 lakh crores capex plan.
Government, RBI mulling to bring EV infrastructure under priority sector lending to boost the infrastructure.
The Government has provided the subsidy on LPG cylinders at Rs 200 per cylinder to PMUY beneficiaries. The subsidy will be around Rs 13500 crores for the remaining part of the year and will be borne by the Government of India as per the latest announcements. Currently there are 9.59 crore people under the PMUY scheme. Around 75 lakhs more to be added.
The propane gas, the key constituent of LPG has seen a reduction of about 50% in the last four months. May be that is the reason, the Government reduced the prices of LPG. The companies might be well within their reach to reduce prices without government help. So, even if subsidy is not given by the Central Government, the companies will continue to make good profits. Currently before price reduction, they might have been making super-duper profits.
India’s Pharma industry likely to take about 5-6% price hikes this year.
Indian real GDP grew 7.8% in April June quarter. A little lower than the RBI estimates.