Mumbai: Fresh capital raised via initial public offerings (IPO) this year has surged to the highest in more than a decade, pointing to the long-awaited revival in capital expenditure by India’s private sector that believes a rapidly expanding economy will soon stretch existing capacities. About half the initial public offerings proceeds of ₹27,435 crore garnered … Read more
New Delhi: The Road Transport and Highways Ministry aims to spend over 90% of its ₹2.59 lakh crore capital expenditure (capex) earmarked in Budget 2023-24 by December 2023, officials aware of the matter told ET. This expenditure will be for developing roads across the country with an aim to complete 310 National Highways (NH) projects … Read more
The Centre’s fiscal deficit hit 82.8% of the revised estimate (RE) until February this fiscal year, just a notch higher than the 82.7% a year before, according to the official data released on Tuesday. In absolute terms, the fiscal deficit hit ₹14.54 lakh crore in the first 11 months of FY23, against Rs 13.17 lakh … Read more
Mumbai: Adani Group stocks extended their rally to a second day on Wednesday as investors were encouraged by the conglomerate’s move to repay borrowings early and free up share pledges besides giving assurances about cutting debt further. Six of the 10 Adani stocks gained between 5% and 20% on Wednesday, helping the group regain ₹49,000 … Read more
The Centre will provide Rs 95,082 crore to states in November, including the advance release of one instalment of central tax devolution, to help them drive up capital expenditure and aid growth. Two instalments – of Rs 47,541 crore each – together instead of one will be released to states on November 22, union finance … Read more
In a bid to boost the economy grappling with the fresh COVID-19 wave, the Finance Ministry has relaxed the spending guidelines to enable ministries and departments to undertake capital expenditure totalling Rs 44,000 crore envisaged in the budget for 2021-22. According to an office memorandum (OM) issued by the Finance Ministry on Thursday, the monthly/quarterly … Read more
As part of the government’s plan to accelerate economic growth, finance minister Nirmala Sitharaman urged central public sector enterprises (CPSEs) to boost their capital expenditure (capex) and achieve their targets, in a virtual meeting on Tuesday. Sitharaman said CPSEs played an important role in pushing the economy forward while reviewing their performance, adding that a … Read more