The Union government is set to commence a significant spectrum auction on Tuesday, putting airwaves worth Rs 96,300 crore up for grabs. This event will see major telecom players like Bharti Airtel Ltd., Reliance Jio Infocomm Ltd., and Vodafone Idea Ltd. participating, having collectively deposited earnest money of Rs 4,350 crore. Key Details of the …
On June 22, 2024, Finance Minister Nirmala Sitharaman led the 53rd GST Council meeting. The session covered several essential measures, such as tax amendments, the integration of Aadhaar biometrics, and exemptions for railway services. Highlights from the 53rd GST Council Meeting: Aadhaar Authentication The GST Council suggested rolling out biometric-based Aadhaar authentication for GST registration …
According to a recent study by Nasscom and Zinnov, India has over 3,600 startups working in advanced technology fields like deeptech, ranking 6th globally in this sector. In the year 2023 alone, over 480 new deeptech startups were founded, twice the number established in 2022. This information is detailed in the report ‘India’s deeptech dawn: …
In the energetic marketplace of making investment decisions, where waves of uncertainty crash against the shores of opportunity, retail investors need information that is credible, updated, and relevant. That they can use to guide them through the turbulence of a volatile marketplace. In a volatile world of investments, access to authentic and timely access to …
The Reserve Bank of India (RBI) has recently released its bi-monthly report (May 2024) about Consumer Confidence Survey (CCS). The survey report indicates the perceptions of people (current vs. that of last year) and their expectation of how things would be after one year. The survey is done across 19 cities. The current survey was …
The Ministry of Coal (MoC) is taking decisive action to ensure a reliable power supply for Indian citizens during the peak demand period. Through a multi-pronged approach, they have achieved record-breaking coal stockpiles at thermal power plants, exceeding 45 million tonnes (MT) as of June 16, 2024. This represents a significant 31.71% increase compared to …
The scorching heat wave gripping Northern India since mid-May 2024 has pushed power demand to unprecedented levels. The region saw its highest-ever peak demand of 89 GW on June 17th, 2024. Despite these challenges, the government successfully met this demand by strategically importing 25-30% of the region’s power needs from neighbouring states. Utilities have also …
Fitch Ratings has increased its growth forecast for India to 7.2%, aligning with the Reserve Bank of India’s (RBI) prediction. This positive outlook is driven by improving consumer confidence and higher investment. Although investment is expected to continue rising, it will do so at a slower pace than in recent quarters. FY 2023-24 Economic Performance …
India’s natural gas sector witnessed a significant shift in May 2024, with a decline in LNG imports balanced by a rise in domestic production. According to data released by the oil ministry, LNG imports fell by 7.2% year-on-year, reaching 2,650 million metric standard cubic meters (MMSCM) compared to 2,854 MMSCM in May 2023. Domestic Production …
Credit rating agencies (CRAs) in India are seeking intervention from the central bank, the Reserve Bank of India (RBI), to address the rising issue of non-cooperative companies. The Problem A significant challenge faced by CRAs is the increasing number of rated companies (estimated at over 60%) that are withholding crucial information needed to maintain their …
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