Category: Business & Economics

The World Bank predicts a steady growth rate of 6.7% for the next three fiscal years, positioning India as the fastest-growing economy globally. In its ‘Global Economic Prospects’ report, the World Bank reaffirmed its growth forecast for India at 6.6% for the fiscal year 2024-25. For the subsequent fiscal years of 2025-26 and 2026-27, the World Bank forecasts India’s economy to maintain its momentum with growth rates of 6.7% and 6.8%, respectively. The IMF and the  RBI have also revised their growth forecasts for India, citing strong domestic demand and…

Bengaluru is spearheading the nation’s transition towards electric mobility, surpassing major metropolitan centers like New Delhi and Mumbai in electric vehicle (EV) registrations. In the year 2023, Bengaluru witnessed a remarkable surge in electric car registrations, with figures exceeding 8,690 units, marking a significant threefold increase from previous years. Karnataka has witnessed an exponential five-fold increase in EV registrations between 2018 and 2021, firmly establishing itself as one of India’s foremost advocates for sustainable mobility. A collaborative initiative between the UK Government, NITI Aayog, and the Government of Karnataka has…

The Centre has announced the release of a significant instalment of one crore thirty thousand 750 crore rupees in tax devolution to states. The Finance Ministry said yesterday that the release, which includes both the regular allocation for June and an additional instalment, is aimed at bolstering state government capacity to accelerate development and capital expenditure. It further said that as of today, the total amount devolved to states for the fiscal year 2024-25 stands at two crore 79 thousand, and five hundred crore rupees. The Interim Budget 2024-25 had…

Sensex Soars to New Heights RBI’s Growth Projection Boosts Sentiment Sectoral Surge Led by Interest Rate Sensitive Stocks Tech and Banking Stocks Lead the Charge Real Estate and Auto Sectors Shine Political Controversy on stock market crash on Election result day. Rahul Gandhi demanded a JPC probe. The Sensex, India’s benchmark stock index, surged to unprecedented heights, marking a remarkable recovery from recent setbacks triggered by political developments and election uncertainties. The surge came on the heels of the Reserve Bank of India’s (RBI) optimistic GDP growth forecast for the…

GDP growth for the financial year 2024-25 projected at 7.2% Standing Deposit Facility (SDF) rate stays put at 6.25% RBI keeps the inflation forecast for FY25 steady at 4.5% The recent Reserve Bank of India (RBI) Monetary Policy Committee (MPC) meeting unfolded against the backdrop of evolving economic dynamics and regulatory imperatives. Led by RBI Governor Shaktikanta Das, the MPC deliberated on a range of policy measures aimed at navigating the intricacies of inflation management, economic growth, and regulatory enhancements. Here’s a comprehensive overview of the key takeaways from the…

The recent collaboration between the Adani Group, ICICI Bank, and Visa has led to the introduction of the Adani One ICICI Bank credit cards, marking a significant stride in retail finance. With a focus on enhancing the travel experience and offering lucrative rewards, these co-branded credit cards have garnered attention in the financial market. Here’s an in-depth look at the features, benefits, and other important points associated with these credit cards: Unique Value Proposition for Travelers: The Adani One ICICI Bank credit cards cater to frequent travelers with a compelling…

Top aviation consultancy CAPA India has forecasted a significant industry-wide loss for Indian airlines in fiscal 2025. Despite witnessing a surge in demand and an escalation in ticket prices, airlines are poised to grapple with escalating costs, leading to anticipated losses ranging between $400 million to $600 million. With overall airline costs expected to escalate by 3.8% in fiscal year 2025, the sector faces a daunting uphill battle against rising operational expenses. IndiGo maintains its dominance in India’s skies, commanding a significant 60% market share, while the Air India group,…

Stock markets rebound, surge over 2% Market rebounds after worst crash in four years FMCG, auto stocks lead gains; banks, IT contribute Gautam Adani, Mukesh Ambani net worths drop after market crash Gautam Adani’s net worth drops by $24.9 billion to $97.5 billion Mukesh Ambani’s net worth falls by $9 billion to $106 billion In a seismic shift of market dynamics, the benchmark stock indices orchestrated a formidable rally during intraday trading on Wednesday, staging an emphatic comeback from the depths of Monday’s harrowing market plunge. The S&P BSE Sensex…

A tumultuous day shook the Indian equity market as the Sensex plummeted by a staggering 3,690 points, marking one of the most severe downturns in recent history. The tumultuous turn of events was triggered by early election trends indicating a closely contested battle between the NDA and the opposition INDIA bloc in the Lok Sabha elections. As the trading day progressed, the BSE’s market capitalization witnessed a significant erosion, plummeting to Rs 400 lakh crore by 11 a.m. from Rs 426 lakh crore at Monday’s closing bell. Adani Group stocks…

In a momentous announcement, the Housing and Urban Development Corporation Limited (HUDCO) revealed its audited financial results for the fiscal year 2023-2024, marking a period of unprecedented growth and exceptional performance across various financial metrics. Key Financial Highlights: Loan Sanctions: HUDCO witnessed a remarkable upsurge in loan sanctions, reaching an impressive figure of Rs. 82,387 crores in FY24, reflecting a substantial increase compared to the previous fiscal year’s Rs. 24,572 crores. Loan Disbursements: The corporation achieved a significant milestone with its highest-ever loan disbursements, totalling an impressive Rs. 17,987 crores during FY24,…