A look at what PM Narendra Modi is planning to do in his potential third term, as per his adviser
India's Prime Minister Narendra Modi's government aims to enhance manufacturing, focusing on export-oriented sectors facing high import duties to boost competitiveness, according to government adviser Arvind Virmani. The government plans to reduce trade barriers, improve output-linked incentive plans, and identify sectors for duty reduction. The move aligns with efforts to attract manufacturers through incentives like tax cuts and capital support. Key Points
Economic TimesPLI is initial support, industry must face competition: Piyush Goyal
India Business News: Commerce and industry minister Piyush Goyal emphasizes that the Production-Linked Incentive (PLI) schemes are meant to provide initial support to boost manufacturing, but companies should be prepared to face competition. He urges the industry to focus on global markets and collaborate for growth. The government has disbursed Rs 4,415 crore under the schemes for eight sectors, including electronics and pharma, till October 2023. Key Points
Times Of India5 powerful Ayurvedic herbs to consume this monsoon to prevent diseases
Skin infections and digestive disorders are common during monsoon. In order to prevent these illnesses, here're Ayurveda-approved herbs to boost overall health. | Health Key Points
Hindustan TimesIsrael-Hamas conflict, FOMC outcome to challenge gold traders' resilience this week
The US dollar saw a boost from a combination of lackluster corporate earnings, safe-haven demand, and signs of the US economy's resilience. Notably, the US economy posted robust annualized growth of 4.9% in Q3 2023, despite higher interest rates. Core PCE prices and personal spending further reinforced the notion of sustained economic strength. Key Points
Economic TimesRoDTEP extension to help boost exports, create jobs: CII EXIM committee chairman
The Indian government's decision to extend export benefits under the RoDTEP scheme until June 2024 will have a positive impact on domestic manufacturing, exports, and job creation, according to Sanjay Budhia, Chairman of the CII national committee on EXIM. The scheme provides refunds for taxes, duties, and levies incurred by exporters in the manufacturing and distribution process. Budhia believes this move will boost exports, generate employment, and help establish India as a global manufacturing hub. Key Points
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Tesla discounts set to power quarterly revenue growth, hit profit
Tesla's (TSLA.O) strategy to boost sales through price cuts is likely to have powered its strongest revenue growth in five quarters while dragging down margins to a three-year low in the April-June period. Key Points
ReutersSpring immunity boosters: 5 foods to eat during weather transition
Spring is here and with weather change, it's important to tweak your diet to include seasonal foods that can help boost your immunity. Here're some suggestions. | Health Key Points
Hindustan TimesCricket-crazy fans set to add a kicker to India's economy as world cup begins
Match tickets selling for up to 50,000 Indian rupees ($600) a pop. Flights to get to a venue. Hotel bookings. Or even just a match-watching party with food and alcohol ordered in. Key Points
ReutersJapan ends Covid-19 travel curbs to bring shoppers, tourists back
Japan's service mood rebounds as Covid curbs end. The outcome offers some relief for policymakers fretting that rising living costs could discourage households from shopping and travelling, thereby derailing Japan's delayed recovery from the scars of the pandemic. | Travel Key Points
Hindustan TimesBig steps taken to boost infrastructure in last 10 years: PM Modi
On the 78th Independence Day, Prime Minister Narendra Modi highlighted significant advancements in infrastructure achieved by his government over the past decade. Speaking from the Red Fort, he emphasized the construction of four crore houses with an additional three crore planned. Modi stressed that these developments aim to enhance both infrastructure and ease of living. Key Points
Economic Times
India's economic growth to boost demand of corporates: Fitch Ratings
Fitch said that with strong domestic demand growth, it is expected that India will be among the world's fastest-growing countries, with resilient GDP growth of 6.5 per cent during the fiscal 2024-25. Key Points
Economic TimesWithdrawal of Rs 2,000 note can boost growth by pushing consumption: Report
The real GDP growth for the first quarter of FY24 will come at 8.1% with an upward bias and the Reserve Bank of India's 6.5% estimate can also be exceeded, economists at the country's largest lender SBI said. We expect Q1 FY24 GDP growth at 8.1% with an upward bias due to the impact of ₹2,000 note withdrawal event...this reinforces our projection that FY24 GDP could be higher than 6.5%, basis the RBI estimate, a note said. Key Points
Economic TimesEuropean Union, India join hands to nurture startups in electric vehicle battery recycling field
Collaboration aims to boost the cooperation between European and Indian small and medium-sized enterprises. In a fillip to the country’s Electric Vehicle... Key Points
The Tribune IndiaChina central bank cuts benchmark lending rate to boost economy
The one-year rate was last lowered in August, while the five-year LPR had previously been reduced in June. Closely followed by markets, both rates are at historic lows. Tuesday's moves are aimed at encouraging commercial banks to grant more credit and at more advantageous rates. Key Points
Economic TimesFinance minister Nirmala Sitharaman's lakshya: Going deep on 'dweep'
Budget News: Finance minister Nirmala Sitharaman announces projects to boost port connectivity, infrastructure, and amenities on India's islands, including Lakshadweep. The government aims to promote Lakshadweep and other unexplored islands as tourist destinations, encouraging travel and exploration. The promotion of domestic tourism will provide employment opportunities and support local entrepreneurship. Learn more about the finance minister's plans for boosting port connectivity and tourism infrastructure. Key Points
Times Of India
A road map with clear focus, fiscal discipline: Amitabh Chaudhry, MD and CEO, Axis Bank
The 2019 interim budget provided income tax rebate, social security coverage, and railway capex. The latest budget focused on fiscal discipline and ease of doing business. It reduced the fiscal deficit for this year and set lower targets for the next. The private sector can benefit from increased borrowing and infrastructure creation. The budget allocated funds for rural poverty alleviation, semiconductor manufacturing, solar power, and economic railway corridors. It also introduced schemes for housing, innovation, and economic growth. Key Points
Economic TimesChina signals more targeted stimulus after abrupt cut to bank reserve ratio
To further boost the economy, China's central bank, the PBOC, has launched plans to guide money into sectors of national importance. The PBOC surprised investors with a bigger-than-expected reserve requirement ratio cut, and economists expect further RRR cuts and policy-rate cuts. Key Points
Economic TimesIndian companies can now list on international bourses in GIFT City
India Business News: Indian companies are now allowed to list directly on international exchanges in GIFT City, providing them access to a wider pool of investors. This move will boost foreign investment flows and broaden the investor base for Indian companies. Key Points
Times Of IndiaInterim Budget may see measures to boost consumption demand, push agri economy
According to experts, there is an urgency to address issues concerning slack consumption demand in economy. Finance Minister Nirmala Sitharaman is likely to... Key Points
The Tribune IndiaStock picks of the week: 5 stocks with consistent score improvement and upside scope of up to 44%
The bullish mode of the market, which was already in place on the street as the nifty touched new high, is likely to get a boost with the narrative that wind in the state election is an indication of what is in store for April 2024. There is greater likelihood of bullish sentiment continuing, so be bullish but more than anything else in the long term what matters for a stock is earnings and valuation. So be selective, avoid impulsive investing, and keep reviewing one’s portfolio and stay away from penny stocks especially. It is very likely that some of the penny stocks will fly and be distributed amongst retail investors. We look at stocks which have witnessed a continuous rise in their score in the last one month. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame. Key Points
Economic TimesTVS Supply Chain Solutions sells Circle Express for Rs 21 crore
New Delhi, Sep 29 (PTI) TVS Supply Chain Solutions Ltd on Friday said its wholly-owned arm RICO Logistics Ltd has sold the entire stake in subsidiary Circle Express Ltd, UK, for 2.1 million pounds (about Rs 21.32 crore). The move is designed to boost the company’s profitability and sharpen its focus on core offerings to […] Key Points
ThePrintIndia expects production-linked payouts to rise to Rs 13,000 crore this year
Under the $24 billion scheme, the federal government pays local manufacturers when targets such as sales are met, aiming to boost investment in manufacturing. Targets differ from sector to sector. Key Points
Economic TimesSpotify raises prices for its premium plans in the US
Spotify Technology (SPOT.N) said on Monday it was raising the prices for its premium plans by $1 each in the United States, as the music streaming company looks to boost profitability in an uncertain economy. Key Points
ReutersMonsoon superfoods: 4 wonderful immunity boosters to include in your diet
Monsoon is the season of infections and poor gut health. Here are dietary tips by a nutritionist that can help you boost immunity. | Health Key Points
Hindustan TimesNow, apply for higher pension till July 11
NEW DELHI: Retirement fund body EPFO has extended the deadline for filing applications to opt for a higher pension till July 11. Earlier, it was extended from May 3 to June 26. Key Points
The Tribune India
Rs 2,000 note withdrawal impact may be short-lived
This is because unlike in 2016, Rs 2,000 note is not being demonetised, said experts. Broadly, digital payments, consumer durables and bank deposits are expected to get a boost. Key Points
FinancialexpressSouth Korea's Hyundai to invest $2.45 billion in India
Hyundai's move comes a few weeks after the federal government said it would raise taxes on imported cars and motorbikes, including electric vehicles (EVs), as it seeks to boost local manufacturing. India's EV industry has grown rapidly, with domestic carmakers Tata Motors and Mahindra & Mahindra as well as global rivals BYD and SAIC's MG Motor lining up launches. Key Points
Economic TimesNo plans to extend ALMM for renewable energy player: Official
The government earlier extended the ALMM by one year till March 2024 amid industry raising concerns over raw material availability and supply chain. ALMM was introduced to boost domestic manufacturing. The official further said that the ministry on a regular basis keeps on interacting with industry stakeholders and actively addresses their issues with respect to projects . Key Points
Economic TimesFive key charts to watch in global commodities this week
Asia was meant to be a central focus for markets to start the final week of the first quarter, where nickel trading is set to return after an extended hiatus. Another key event — a meeting between the leaders of Brazil and China — was postponed after Brazilian President Luiz Inacio Lula da Silva became ill. Here are five notable charts to monitor in global commodities markets. Key Points
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