At a time when the government is nudging the private sector to ramp up its capital expenditure (capex), the Ministry of Statistics and Programme Implementation (MoSPI) is poised to kick-start the first-of-its-kind annual survey on the status of private sector capex from next month. “The inaugural edition of the annual exercise will start in October and will be completed by December. “The results will be made public by February next year,” said Geeta Singh Rathore, director general, National Sample Survey Office (NSSO), at a data users’ conference on Thursday.
Posts tagged Rediff
US lenders say Byju’s obligated to repay $1.2 bn TLB (15-09-2024)
US lenders represented by Glas Trust have countered Byju’s founder Byju Raveendran’s claim on verified debt on the company being merely around Rs 20 crore, and have said that the beleaguered edtech firm will have to pay the entire $1.2 billion Term Loan B along with interest. The founder of Think and Learn (TLPL) and owner of Byju’s brand, Byju Raveendran, had about a week ago said that verified debt on the company is only Rs 20 crore as per insolvency proceedings and he may not have to pay any money to the US lenders represented by Glas Trust.
Factors that will drive the markets this week (15-09-2024)
The US Federal Reserve’s interest rate decision is the biggest event that would drive sentiments in the domestic stock market this week, besides a host of macroeconomic data from the global front and trading activity of foreign investors, analysts said. The Indian equity market had an exceptional last week, with both the Nifty and Sensex hitting their all-time high levels on Thursday.
Ayushman Bharat’s 70+ coverage: Min impact on insurers (14-09-2024)
Industry experts believe that health insurance companies are unlikely to experience business cannibalisation due to the central government’s decision to extend health coverage to people aged 70 and above, regardless of their income level, under the Ayushman Bharat scheme. On Wednesday, the Union Cabinet expanded the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) to include all senior citizens aged 70 and older. This move is expected to benefit nearly 45 million families, comprising 60 million senior citizens, by providing Rs 5 lakh in free health insurance coverage per family.
Amazon’s pre-festival offer: 110K seasonal jobs (14-09-2024)
E-commerce firm Amazon India has announced the creation of over 110,000 seasonal job opportunities across its operations network as it prepares to serve millions of customers throughout India during the upcoming festival season. These positions include both direct and indirect roles in cities such as Mumbai, Delhi, Pune, Bengaluru, Hyderabad, Kolkata, Lucknow, and Chennai, among others. Notably, Amazon has hired thousands of women and nearly 1,900 individuals with disabilities into its existing network.
Post govt’s move, onion prices drop in major cities (14-09-2024)
The government’s subsidised onion sale initiative, launched on September 5, has led to price drops in major cities within days, the consumer affairs ministry said on Saturday. In Delhi, retail onion price fell from Rs 60 to Rs 55 per kg, while Mumbai saw a decrease from Rs 61 to Rs 56 per kg. In Chennai, the retail price reduced from Rs 65 to Rs 58 per kg, the ministry said in a statement.
‘We focus on smaller ticket sizes loans’ (14-09-2024)
‘Banks may find small ticket size lending economically unviable due to the cost of branch operations.’
PV sales dip 2% in August as OEMs cut dispatches (13-09-2024)
Domestic passenger vehicle wholesales declined by about 2 per cent year-on-year in August as companies curtailed dispatches to reduce inventory at dealers amid a drop in demand. According to data issued by the industry body Society of Indian Automobile Manufacturers (SIAM), the total passenger vehicle dispatches in the domestic market stood at 352,921 units last month compared to 359,228 vehicles in August 2023, a dip of 1.8 per cent.
Why prices of edible oils may go up (13-09-2024)
The government on Friday hiked customs duty on crude and refined sunflower oil to 20 per cent and 32.5 per cent, respectively. According to a finance ministry notification, the basic customs duty on crude palm, soybean and sunflower seed oil has been increased from nil to 20 per cent.
India’s forex kitty jumps to fresh high of $689.24 bn (13-09-2024)
India’s forex reserves jumped $5.25 billion to a new all-time high of $689.24 billion for the week ended September 6, the Reserve Bank of India said on Friday. The overall kitty had jumped by $2.3 billion to a record $683.99 billion for the previous reporting week.