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Banks are working on a new credit model for MSMEs and home loans which is based on parameters like payment of salaries, bill payments, PF contribution, etc. This is likely to come into effect in October 2024.
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FM Sitharaman at CNBC-TV18's Open House Highlights: Union finance minister Nirmala Sitharaman was addressing a CNBC-TV18 event on July 26
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L&T CFO said that while multilateral funding is available, projects need credibility. The private sector will invest if the conditions for growth are enabling, with necessary policies, clearances, and joint commitments in place.
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The Union Budget 2024 did not provide a road map for attracting private-sector investments but the focus on skilling programme and creation of 1,000 Industrial Training Institutes will aid the infrastructure sector, as skilled labourers will be available locally.
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Infrastructure sector veteran Vinayak Chatterjee told Moneycontrol in an interview that the government is changing its infrastructure investment strategy from a top-down to a bottom-up approach. He flagged apprehensions that the new strategy may take time to play out.
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Budget 2024 once again lays emphasis on the infrastructure segment. Focus on urban development, energy transition, housing, water supply and sanitation augurs well for the sector
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Both central government expenditure and fiscal deficit are still considerably above pre-pandemic levels
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Five ministries will corner over 90 percent of capex jump
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The Budget 2024-25 has allocated Rs 2,080 crore for tourism infrastructure development, up from the revised outlay of Rs 1,294 crore in 2023-24.
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Today, India rupee closed record low at 83.6937 against the US Dollar after the government raised tax rates on capital gains in the FY25 Budget.
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The central government commits funds to develop the eastern region with focus on Andhra and Bihar
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Fiscal deficit pegged at 4.9%; lower primary deficit target at 1.4% mirrors recovery in public finance health; rise in revenue expenditure to address political economy pain points; balancing of the fisc predicated on robust GST, corporate and individual income tax collections.
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The ministry completed the construction of 12,349 km of national highways in 2023-24 after constructing 10,993 km of highways in FY23, according to officials from MoRTH.
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While presenting the Union Budget for 2024-25, Sitharaman on July 23 said a joint venture between NTPC and BHEL would set up the 800-MW power plant
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Addressing the nation in a video message, the PM says this Budget strengthens every section of the society.
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India has an installed capacity of 7.48 GWe (gigawatts of electricity) which is slated to increase to 13.08 GWe by 2029, with the addition of 7 more reactors
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Experts said the move translate to $35-$50 million per year in savings for Apple until it starts manufacturing Pro models immediately.
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The Economic Survey for 2023-24 tabled in Parliament on July 22 had also highlighted that government still struggles with on-boarding of digital land record which leads to land acquisition delays while constructing national highways.
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The Economic Survey for 2023-24 tabled in Parliament on July 22 said that a total of 8,29,409 km of road length has been sanctioned under Pradhan Mantri Gram Sadak Yojana (PMGSY) out of which, 7,63,308 km of road length has been completed as on 18 th June 2024 at an expenditure of Rs 3.23 lakh crore.
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The PM Gati Shakti Master plan, a pet project of Prime Minister Narendra Modi which found prominent mention in Sitharaman’s budget speech of 2022-23, involves holistic policymaking for the seven infrastructure sub-sectors, with one digital portal that can accessed by all stakeholders for real-time information.
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The mission's mandate will include technology development, skilled workforce, extended producer responsibility framework suitable financing, Sitharaman added.
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Mudra or Micro Units Development & Refinance Agency, is a channel for government credit scheme meant for entrepreneurs under which loans are given.
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Sitharaman also said that new airports, medical facilities and sports infrastructure projects will also be setup in Bihar.
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FM Nirmala Sitharaman announced significant infrastructure developments for Bihar, including new airports, medical facilities, and sports infrastructure.
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The government's focus on infrastructure development and allocations for roads, highways, railways, etc will likely drive demand for construction and cement products.
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The government's continued focus on capital expenditure (capex) and infrastructure development has set the stage for significant opportunities for infrastructure sector stocks.
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Traditionally, finance ministers would carry a briefcase into Parliament for the budget announcement. However, in 2019, Sitharaman broke this tradition by using a ‘Bahi Khata,’ which is a traditional Indian accounting ledger.
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Team Moneycontrol has compiled a list of stocks in the agriculture, renewable energy, rural consumption, and other sectors based on investors’ expectations from the Budget.
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Experts see support for Nifty 50 at the 24,200-24,000 zone and resistance at 24,850-25,000, while for the Bank Nifty, breaking either side of the 52,000-52,800 range can give firm direction in the coming sessions.
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In the interim budget, the sector was disappointed by the lack of specific announcements or allocations.
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In FY24, spending by the government on railways grew a strong 28 percent on-year and on defence by 10 percent. Conventional sectors increased capex spend by 6-8 percent and investments in renewable capacity increased by a healthy 18 percent, according to Crisil
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Budget 2024: Key sectors such as roads, railways, airports, and urban infrastructure are expected to see increased funding, including for projects like Bharatmala and Sagarmala.
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The sector has reported robust growth over the last 10 years with the Bharatiya Janata Party-led government spending around Rs 10,37,616.39 crore between 2014 and 2024 to construct 54,858 km of national highways.
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The Indian Meteorological Department had forecast that India is set to receive above-normal monsoon rains this year. The monsoon is, however, not progressing as the IMD predicted before the monsoon season began.
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Highlighting the health and commercial benefits of traditional Indian lifestyles, the survey advocated that businesses adopt and promote these practices globally to boost their market leadership and profitability
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Buoyant public sector investment has had a pivotal role in funding large-scale infrastructure projects in the recent years, the economic survey highlighted.
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Finance Minister Nirmala Sitharaman will present the Union Budget in Parliament on Tuesday.
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The Digital Infrastructure Providers Association (DIPA) also wants industrial electricity tariffs for telecommunication infrastructure across states
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Veterans believe that any hike could mean that a rough ride is in store, but add that the effect of such a move will be felt more by HNIs and active traders than by the typical retail investor.
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In the Interim Budget, Sitharaman pencilled in a capital expenditure of Rs 11.1 lakh crore, a growth of 11.1 percent over 2023-24
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The pharma and healthcare sector has huge expectations from the Union Budget but on top of the list lies increased spending, support for more research and development initiatives and an expansion of the Ayushman Bharat Scheme.
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The former World Bank chief economist said he hopes that the Union Budget for 2024-25, which Union Finance Minister Nirmala Sitharaman is set to present in the Lok Sabha on July 23, will prioritise the welfare of ordinary citizens rather than solely aim to increase aggregate GDP.
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Tata Project's MD and CEO Vinayak Pai said the Budget should also take measures to encourage private capex, which will play an important role in India's economic growth
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One major proposal includes the introduction of electronic bank guarantees (BGs) for importers to prevent revenue losses.
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In FY24, spending by the government on railways grew a strong 28 percent on-year and on defence by 10 percent. Conventional sectors increased capex spend by 6-8 percent and investments in renewable capacity increased by a healthy 18 percent, according to Crisil
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The formal announcement of the refinery is anticipated during the upcoming budget presentation scheduled for July 23, although the final location selection process may extend beyond that date, the report added.
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After the amendment is endorsed by Parliament, those companies that have received tax notices are likely to ask the GST Council's law committee to quash them.
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The government is considering including IREDA and HUDCO under Section 54EC of the Income Tax Act, offering capital gains tax exemptions to investors purchasing their bonds
