Investors in India are shunning stocks that were expected to benefit from Prime Minister Narendra Modi’s re-election, and instead piling into defensive sectors.An index of the so-called Modi stocks, a term coined by CLSA, has climbed only 2% as the prime minister completed his first 100 days in office after winning a third term in … Read more
New Delhi: Finance minister Nirmala Sitharaman called on various ministries and departments to expedite capital spending and set quarterly targets. On Tuesday, Sitharaman chaired the first of a series of meetings lined up to review the productive spending, and the resultant asset creation, across infrastructure and other ministries. She held meetings with the ministries of … Read more
Mumbai: As many as 23 states are set to miss the budgeted capital spending by around Rs 1 lakh crore this fiscal, according to a report. In the first three quarters, the states’ capex grew just 11.6 per cent, which is trailing by 30 per cent of the budgeted targets. This is despite an improvement … Read more
The Indian government will present the Union Budget 2022-23 on February 1, 2022. Besides giving the national accounts, the government will communicate its long-term agenda to several observers through Budgets. The big question facing policymakers is how to equitably distribute expenditure — given that Covid-19 has disproportionately affected the medium and small enterprises and the … Read more
NEW DELHI: Ratings firm ICRA has cautioned that a dozen major state governments, which account for three-fourths of India’s GDP, may have to cut an aggregate Rs 2.5-2.7 lakh crore in their budgeted capital spending this fiscal year due to the pandemic-induced strain to their revenue. The aggregate debt of these states is set to … Read more