BUSINESS
Firms' cost pressures rising, 1-year-ahead inflation expectations up 54 bps in Dec: IIM survey
While firms' one-year ahead inflation expectations stood at 4.58 percent in the last month of 2023, they think headline retail inflation will be even higher at close to 5 percent.
BUSINESS
Fitch says India to miss FY25 fiscal deficit target of 5.1% by 30 basis points
According to the ratings agency, the Indian government’s aggressive fiscal target for the next financial year is unlikely to result in any significant changes in the country's sovereign credit profile.
BUSINESS
Factory jobs zoom 7% in FY22, but average growth stays just 2.5% over 4 years
According to the results of the Annual Survey of Industries for 2020-21 and 2021-22, total factory employment rose to 1.72 crore in 2021-22 from 1.56 crore in 2017-18.
INDIA
GST Council to review online gaming after March 31: Revenue Secretary
The GST Council has revised the rate on online gaming from 18 percent to 28 percent on full face value effective October 1, 2023. The revenue from the sector has seen almost six-fold increase since then, the Revenue Secretary said.
BUSINESS
No law agency probe into Paytm as of now, says revenue secretary
Parent One97 Communications has also said there is no investigation by the Enforcement Directorate against Paytm, its associates and founder for money laundering
BUSINESS
GST fake invoices: Govt to do away with edit option to revise output liability, says Revenue Secretary
The proposal will be discussed at the next GST Council meeting likely this month.
BUSINESS
Revenue Secretary sees average monthly GST collections rising to Rs 1.8-1.85 lakh crore in FY25
According to Revenue Secretary Sanjay Malhotra, it would be a "great achievement" if the Centre can manage a tax buoyancy of more than 1 consistently every year.
BUSINESS
DIPAM Secretary sees FY25 disinvestments at around Rs 35,000 crore, but govt has flexibility
According to Tuhin Kanta Pandey, Secretary of the Department of Investment and Public Asset Management, not giving a fixed disinvestment target in budgets is the "way to go".
BUSINESS
Gold imports adding to revenue growth, no case for a lower levy: Revenue secretary
The imports of the yellow metal are expected to touch 800 tonnes in 2023-24.
BUSINESS
Shipping Corp Land and Assets listing likely within a month, says DIPAM secretary
The Maharashtra Cabinet has given stamp duty exemption on the demerger.
BUSINESS
Revenue Secretary Malhotra sees no reason to cut excise on fuel, given global crude prices
According to Revenue Secretary Sanjay Malhotra, the excise duty on petrol and diesel currently is the lowest in several years.
BUSINESS
LIC may get 'smarter' with digital transformation, says DIPAM Secretary Pandey
According to Tuhin Kanta Pandey, Secretary of the Department of Investment and Public Asset Management, the government should be able to complete the privatisation of IDBI Bank in 2024-25.
BUSINESS
CEA Nageswaran says FY25 Budget's fiscal deficit target not about making a statement
Nageswaran also rejected the K-shaped recovery theory that is being used to describe India's post-pandemic rebound. According to him, it is akin to the phrase 'Hindu rate of growth' that was "unthinkingly" used and stuck for no reason.
BUSINESS
No fixed disinvestment target in FY25 Budget, says DIPAM Secretary
The government's disinvestment strategy must be calibrated while also focussing on the creation of wealth, Tuhin Kanta Pandey said
BUSINESS
Finance Secy Somanathan says debt-to-GDP ratio of 40% a relic, needs re-examination
Speaking to reporters after the presentation of the interim Budget, Finance Secretary TV Somanathan also said India's debt-to-GDP ratio is one of the lowest in the G20.
ECONOMY
Sitharaman's message to ratings agencies: Govt bettering fiscal consolidation roadmap
According to Christian de Guzman of Moody's, while the interim Budget firmly conveyed India's commitment to its fiscal consolidation, the government's ability to meet its targets could be restricted due to a variety of factors
BUSINESS
Nomura's Sonal Varma says FY25 Budget 'not a pre-election budget'
According to Varma, the interim Budget "bodes well" for India's macroeconomic stability and will be seen as a positive by the Reserve Bank of India.
BUSINESS
Budget and its numbers: A breakdown of key estimates for FY25
The budget contains a multitude of numbers, one as important as the next. Here, Moneycontrol tells you which numbers matter the most and what they mean for the economy in 2024-25
BUSINESS
Subsidy bill in FY25 Budget seen at Rs 3.81 lakh crore, down 8%
In November, the cabinet approved the government's proposal to extend the Pradhan Mantri Garib Kalyan Anna Yojana free foodgrain scheme for five more years until 2028 at a total cost of nearly Rs 12 lakh crore
BUSINESS
Budget pegs RBI, PSU banks dividend in FY25 at Rs 1.02 lakh crore
In 2023-24, the Reserve Bank of India transferred a surplus of Rs 87,416 crore to the Centre, significantly higher than what the government had expected to receive
BUSINESS
FY25 nominal GDP growth assumed at 10.5%, meets expectations
A Moneycontrol poll of 15 economists had also shown the finance ministry may assume a nominal GDP growth of 10.5 percent for 2024-25 in its interim budget calculations.
BUSINESS
FM Sitharaman sets FY25 fiscal deficit target at 5.1%, goes aggressive on consolidation
A Moneycontrol poll of economists had shown that the finance minister may target a fiscal deficit of 5.3 percent of the GDP for 2024-25 in its interim budget.
BUSINESS
Capex target for FY25 set at new record of Rs 11.11 lakh crore, but FY24 aim missed
The FY25 capex will be 3.4 percent of the GDP. Infra stocks gain as capex outlay increased by 11.1 percent in FY25
BUSINESS
Tax collections seen 14% higher in FY25 Union Budget despite fall in tax buoyancy
According a Moneycontrol survey of economists, the gross tax collections estimate for the next financial year may be pegged at Rs 38.3 lakh crore as against the 2023-24 Budget estimate of Rs 33.6 lakh crore
