What can countries with high transaction cost on remittance do? Adopt an Indian method
The high transaction cost on remittances amounts to an additional tax on cross-border movement of incomes. For 2023, roughly $41 billion was spent on just transaction costs. Key Points
ThePrintProjects running behind schedule declined to a 15-month low in January; cost overruns dip
In January, the percentage of central government projects facing delays reached its lowest point in 15 months, dropping to 42.8% from 46.6% the previous month, according to a report. Out of 1,821 registered projects, 617 were on time, 780 were delayed, 431 experienced cost overruns, and 255 had both time and cost overruns. The average time overrun for the 780 delayed projects was 36.13 months. Key Points
Economic Timescost overrun ratio rises to a three-month high in December: MoSPI
The ratio of cost overrun in central government infrastructure projects rose to a three-month high of 18.65% in December. The anticipated completion cost at Rs 30.7 lakh crore was higher than the original cost of Rs 25.9 lakh crore for 1,820 projects. The ratio of delayed projects rose to 46.6% in December. Key Points
Economic Timescost of Living LIVE Updates Jan 16: Fuel prices steady. Check petrol and diesel prices in your city here
Cost of Living LIVE Updates Jan 16: The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket. In some relief, India's retail inflation witnessed a notable decline in September, dropping to a three-month low. Key Points
MintPrices of home-cooked veg and non-veg thalis fall in December: Crisil
In December, CRISIL MI&A Research estimates revealed a 3% drop in the monthly cost of home-cooked vegetarian thalis and a 5% decrease for non-vegetarian ones. The reduction is attributed to a 14% and 3% on-month decline in onion and tomato prices. Key Points
Economic Times
Govt completes first cost of regulation study: DPIIT secretary
At FICCIs 96th Annual General Meeting and Annual Convention, Rajesh Kumar Singh said: “We are talking about a huge amount of 17,000-odd crore of the cost of regulation during that assessment period, which was one and a half years period last year”. The study has been undertaken for all states and union territories in the country but is not in the public domain yet. Key Points
Economic TimesCross-border remittances using e-rupee to halve cost of such payments to 2-3 pc: DEA Secy Ajay Seth
Central Bank Digital Currency (CBDC), or e-rupee, can help reduce the cost of cross-border remittances by 2-3%, according to an official. The Central Bank Digital Currency (CBDC) is a digital token that represents legal tender and is issued in the same denominations as paper currency and coins. Key Points
Economic TimesTotal expenditure under Bharatmala Pariyojana Phase I at Rs 4.10 lakh cr: Nitin Gadkari
A total expenditure of Rs 4.10 lakh crore has been made under Bharatmala Pariyojana Phase I (BPP-I) as on October 31, 2023, and the difference in actual project cost and normative cost is due to increase in cost of raw material and land acquisition, Parliament was informed on Wednesday. In a written reply to a question in the Rajya Sabha, Union Road Transport and Highways Minister Nitin Gadkari said Comptroller and Auditor General (CAG) has made observation about the increase in cost of Phase I of the pariyojana. Key Points
Economic Timescost of Living LIVE Updates Dec 06: Fuel prices steady. Check petrol and diesel prices in your city today
Cost of Living LIVE Updates December 6: The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket. In some relief, India's retail inflation witnessed a notable decline in September, dropping to a three-month low. Key Points
Mintcost of Living LIVE Updates Dec 01: Fuel prices steady. Check petrol and diesel prices in your city today
Cost of Living LIVE Updates December 1: The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket. In some relief, India's retail inflation witnessed a notable decline in September, dropping to a three-month low. Key Points
mint
cost overruns decline below 18% mark for the first time in nearly four years: MoSPI report
The government has reported a decrease in cost overruns in government infrastructure projects for the first time in nearly four years, dropping from 19.2% in September to 17.4% in October. The number of projects running behind schedule also decreased to 46.8% from 47.7% last month. Key Points
Economic TimesIn a year or two, L&T Finance Holdings overall ROA will also go beyond 3%, strong PAT will continue: Dinan
“I would not like to answer in the short term what the growth rates will be. I can only say that good, healthy growth rates will continue. We have good plans for that. At the same time, credit cost will continue to improve and that will work on profitability and ROAs positively.” Key Points
Economic Timescost overruns rise to six-month high in September, according to MoSPI data
Cost overruns for central infrastructure projects in India reached a six-month high in September, according to government data. The estimated cost of these projects was 21.92% higher in September compared to the original cost, with the government needing to spend an additional INR 4.5 lakh crore ($61.6bn) on projects valued at INR 150 crore and above. The time of completion also increased to 38.63 months in September, compared to 36.96 months in August. Railways and water resources were among the ministries facing the highest cost overruns. Key Points
Economic TimesRs 51,000-crore Eastern Dedicated Freight Corridor (EDFC) completed
The first commercial service on this route is scheduled for November 1. Its counterpart, the 1046 km long Western DFC connecting Khurja to Jawaharlal Nehru Port (Maharashtra) is estimated to cost Rs 72,000 crore when complete during the next fiscal. Key Points
Economic TimesCRISIL's monthly food plate cost indicator: Price for thalis fall as tomato gets cheaper
Cost of fuel, which accounts for 14% and 8% of the total cost of vegetarian and non-vegetarian thalis, respectively, declined 18% on month in September as the cost of a 14.2kg LPG cylinder fell to Rs 903 from Rs 1,103. Prices of chillies also provided some relief by cooling off 31% on month. Key Points
Economic Times
RBI in dialogue with other central banks to reduce cost of cross border remittances
The Reserve Bank of India (RBI) is engaging with countries that have a significant Indian diaspora to reduce the cost of remittances, according to Deputy Governor T Rabi Sankar. He highlighted that the average cost of cross-border remittances is currently around 6.2% of the transaction value, which is considered too high given the availability of cheap data connectivity. Key Points
Economic TimesIndia in talks with more jurisdictions to make material impact on cross-border payments: RBI DG
India is in discussions with other jurisdictions to address the high cost of cross-border remittances, according to Reserve Bank Deputy Governor T Rabi Sankar. He described the current situation as unconscionable given the availability of cheap data connectivity. Sankar suggested that the introduction of a central bank digital currency (CBDC) could lower the cost of cross-border payments by bypassing the legacy correspondent banking system. Key Points
Economic TimesLand acquisition, flyovers and tunnels raised Bharatmala cost: Official
The cost of highway projects under India's Bharatmala programme has risen above initial estimates due to the construction of wider highways and tunnels, as well as more expensive land acquisition, top Roads Ministry official said. TThis programme was approved by the Cabinet Committee on Economic Affairs (CCEA) in July 2017. Key Points
Economic TimesGovernment saved 12 per cent in construction cost in awarding Dwarka Expressway project, says road ministr
According to reports, the Comptroller and Auditor General (CAG) had found that the National Highways Authority of India's (NHAI) decision to go for an elevated carriageway on the Haryana portion of the Dwarka Expressway pushed up the construction cost to Rs 251 crore per kilometre from Rs 18.2 crore per km estimated earlier. Key Points
Economic TimesWhy the cost of veg thalis rose way faster than that of non-veg thalis in July
It may be noted here that Crisil computes the average cost of preparing a thali at home based on input prices in north, south, east and west India. The monthly change reveals how the common man's household budget is being impacted by by the inflation scenario. Key Points
Economic Times
Rising tomato prices increases thali cost for the third month in a row: CRISIL
The cost of a thali in India rose for the third consecutive month in July. The cost of both vegetarian and non-vegetarian thalis increased by 34% and 13% respectively. The increase is mainly due to a significant rise in the price of tomatoes, which contributed 25% of the 34% increase in the cost of a vegetarian thali. The prices of onion and potato also rose contributing further to the increase in cost. Meanwhile, the cost of a non-vegetarian thali rose at a slower pace due to a decline in the price of broilers. Key Points
Economic TimesHigher borrowing, deposit rates raise banks' funding costs
Bankers say the cost of funds will continue to be on the rise for a few quarters till the entire deposit repricing cost is factored in. India's largest private lender HDFC Bank has seen the cost of funds rise nearly 100 basis points as compared with last year. For the lender, the cost of funds stood at 4% at the end of the June quarter versus 3.1% in the same period last year. Key Points
Economic TimesModi govt’s road dreams may take a backseat on cash flow and debt issues
High cost inflation for road projects, cash flow challenges for road EPC companies and elevated debt levels for NHAI mean that road awards will continue the muted trends seen in FY23 and April 2023. Analysts have said that awarding of projects may slow down ahead of the general elections in 2024. Key Points
Economic TimesHigh Court dismisses govt plea to enforce arbitral award against RIL
The high court rejected the petition holding it to be premature and not maintainable . The 2016 FPA is not an executable arbitral award as it does not award any amount to the government, it said in the order on Friday. Key Points
Economic TimesStatus quo is not an option for Tata Steel UK: MD, TV Narendran
The Rishi Sunak-led government's earlier proposal barely covered a fifth of the estimated capital cost required at Port Talbot Steelworks, Narendran said. The company's European operations continued to be a drag on its consolidated financials. Edited excerpts: Key Points
Economic Times
Timely implementation of market reforms key to improve financial viability of PSP: ICRA
According to the report, the levelised tariff for pumped storage hydro projects in the base case (capital cost of ₹6.5 crore per MW and 16.5% return on equity) is estimated at ₹4.98 per unit while the landed tariff including cost of energy required for pumping is estimated at Rs. 8.92 per unit Key Points
mintAnti Terrorism Squad to be set up in T.N. Police’s Intelligence Wing: CM
TN CM Stalin on April 21, announced that an ‘Anti Terrorism Squad’ with over 380 personnel would be established in the Tamil Nadu Police’s Intelligence Wing at a cost of ₹57.51 crore. Key Points
The HinduGovt likely to come out with logistics cost estimate framework on Thursday
India is set to release a framework to assess its logistics cost, with estimates suggesting it stands at 13-14% of the country's GDP. The government is working on a comprehensive report containing baseline aggregated logistics cost estimates and a long-term logistics cost calculation framework, which has been reviewed by external experts from the World Bank. Key Points
Economic Timescost of Living LIVE Updates Dec 15: Fuel prices steady. Check petrol and diesel prices in your city
Cost of Living LIVE Updates December 15: The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket. In some relief, India's retail inflation witnessed a notable decline in September, dropping to a three-month low. Key Points
MintIndia's logistics cost ranges from 7.8 - 8.9 pc of GDP in FY22: NCAER estimates
In 2021-22, India's logistics cost was estimated between 7.8% to 8.9% of GDP, shared by the National Council of Applied Economic Research (NCAER). Secretary Rajesh Kumar Singh of DPIIT revealed this and highlighted the new national logistics policy, aiming to cut costs and boost India's industrial competitiveness. Key Points
Economic Times
cost of Living LIVE Updates Nov 21: Fuel prices steady. Check petrol and diesel prices in your city today
Cost of Living LIVE November 21: The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket. In some relief, India's retail inflation witnessed a notable decline in September, dropping to a three-month low. Key Points
mintSeptember cost of living payment most likely to go up, know possible financial changes
September cost of living payment may go up as the rate of inflation, bank rates are most likely to go north. Know the important dates related to finances. Key Points
Economic TimesPM Modi to inaugurate Bengaluru-Mysuru expressway today; launch projects worth ₹16,000 cr. See schedule here
This will be PM Modi's sixth visit to poll-bound Karnataka this year. Assembly elections in the state are due in April-May. Key Points
mintGovt likely to come out with logistics cost estimate by Sept: DPIIT Official
The government is working on a framework to assess the logistics cost in the country and is expected to get a realistic estimate by September, a senior DPIIT official said on Friday. At present, the government is going by certain estimates, which suggest that India's logistics cost stands at about 13-14 per cent of the country's GDP (gross domestic product). Key Points
Economic Timescost overruns decline to 20.34% in April, says new MoSPI report
Indian infrastructure projects' anticipated costs were 20.34% higher than the original costs as of May 1, according to a report by the Ministry of Statistics and Programme Implementation. The total cost at INR27.5tn ($370bn) was INR4.65tn higher than the original cost. Among the central government's 1,605 infrastructure projects worth INR150 crore and above, 54% of delayed projects were delayed by two years. However, the time overrun has decreased compared to last year. Over 73% of projects with cost overruns were in road transport and highways, where 44% are expected to exceed the original completion time. Key Points
Economic Times
Delhi NCR 6th most expensive office rental market among APAC's top 23 cities
India Business News: Delhi-NCR is the sixth most expensive prime office market in the Asia Pacific region, with an annual occupancy cost of USD 78.4 per square foot. Hong Key Points
Times Of IndiaHow should you plan your investments to generate a good monthly income after retirement? Amit Kukreja ans
If the person's cost of living today is 1 lakh rupees a month, we want to ensure that his lifestyle is not getting impacted during his retirement years. So at 60 his inflation adjusted cost which is 1 lakh in today's term needs to be adjusted for the inflation at the age of 60 and we have to ensure that the lifestyle remains the same. Key Points
Economic TimesFrom now onwards, the challenge is sustaining the gains: Karur Vysya Bank MD
“Overall, around 80% of Karur Vysya Bank portfolio is RAM (retail, agriculture and MSME) and 20% is around corporate. We will try to contain these levels more or less and focus on these three segments because the yields are relatively better here compared to corporate.” Key Points
Economic TimesHudco looking at Japan to raise funds via ECB route: CMD
The plan is expected to help HUDCO raise funds at a 6.5-7% rate. HUDCO is also looking to expand its loan book to ₹1.5 lakh crore by FY26 from around ₹80,000 crore now, and ECBs would be a key component to bring down overall cost. Key Points
Economic TimesUS shifting COVID antivirals to commercial market on Nov. 1
Most people will retain access to Pfizer's (PFE.N) Paxlovid and Merck's (MRK.N) Lagevrio COVID-19 oral antiviral treatments for little or no cost even after the U.S. government starts handing over their distribution to the commercial market next month, health officials said on Friday. Key Points
Reuters
Why Rakesh Arora is in no hurry to buy cement and steel stocks now
Rakesh Arora of Go India, predicts a moderate outlook for the cement and steel sectors beyond Q1 of this year. A lack of price discipline and the emergence of new competitors such as Adani Cement could hamper pricing, leading to a potential disappointment in the cement industry if companies continue to push towards volume over pricing. While cost pressures are reducing and margins are improving due to cost reduction, the picture for steel remains uncertain due to global demand risks and dropping steel prices in China. Key Points
Economic TimesYes Bank expects continuous improvement in NIM: Prashant Kumar
Yes Bank slippages, both for the quarter sequentially and also YoY, have come down almost 25%. This year, the slippage is in the range of 2.5%. Going forward, we would be able to control the slippages between 1% and 1.5%, not more than that. Because continuously, our SMA-2 number, which is 61-90 days, are improving. Key Points
Economic Times354 infra projects show cost overruns of Rs 4.55 lakh cr
Total original cost of implementation of the 1,449 projects was Rs 20,69,658.30 crore and their anticipated completion cost is likely to be Rs 25,25,348.87 crore, which reflects overall cost overruns of Rs 4,55,690.57 crore (22.02 per cent of original cost), the Ministry of Statistics and Programme Implementation's latest report for March, 2023 said. Key Points
Economic TimesApple Vision Pro is set to release on February 2, repair cost is around Rs 2 lakh
Apple Vision Pro is all set to go on sale on February 2 and before its release, the company has revealed the repair cost of the new mixed reality headset. According to the company's official website, the repair cost is around Rs 2 lakh. Key Points
India TodayTrip to Japan becomes more expensive: Know Japan Rail ticket price & Itsukushima shrine fee
Japan Rail has increased the cost of its passes and tickets. Besides, for the first time in history, a fee has been imposed on visiting the Itsukushima shrine. Know in detail. Key Points
Economic Times
Projects running behind schedule decline to 25-month low in February
In February, delayed central government projects declined to a 25-month low of 41.2%, while the cost overrun ratio dropped to a three-month low of 18.19%. With 1,902 projects monitored, 443 faced cost overruns and 764 experienced time overruns, with average delays exceeding 36 months for many projects. Railways and roads sectors were notably affected. Key Points
Economic TimesLand cost making it harder to sustain real estate projects: Tata Realty MD & CEO
Real estate requires a lot of capital in India, first to acquire land. In major cities such as NCR, Mumbai and Bangalore, it is almost 80%–85% of the project cost. Then you take 2-3 years to launch the project, with the cost of capital varying from 8.5% for reputed builders to 18–20% for non-reputed ones, Dutt said. Key Points
Economic TimesAt WTO, India proposes lower cost of cross-border payments
India has proposed a work programme at the World Trade Organization (WTO) aimed at reducing the cost of cross-border remittances to promote international trade. The proposal emphasizes the importance of promoting interoperability and interlinkages of digital payment infrastructures to achieve cheaper, faster, and more transparent cross-border payments, including remittances. Key Points
Economic TimesONGC focuses on lowering operating costs
Oil and Natural Gas Corporation (ONGC) is facing increased operating costs due to a surge in oilfield services rates and maintenance costs of old capital equipment. ONGC's finance chief, Pomila Jaspal, stated that the company is focused on reducing costs by minimizing idle time of rigs and vessels and improving efficiency. Key Points
Economic TimesRoad transport, highways sector witnesses maximum number of delayed projects, followed by Railways
Regarding the road transport and highways sector, the report said that the total original cost of implementation of 749 projects at the time of sanction was of around 2,893.85 crore, but this was subsequently anticipated to cost Rs 45,11,68.46 crore, indicating cost overrun of 4.2 per cent. Key Points
Financialexpress
India reaches out to multilateral development banks to draw road map for becoming developed nation by 204
The finance ministry held a meeting with multilateral lenders on March 7 and sought their inputs on what it termed a budget-plus and finance-plus strategy, which would essentially cover the entire spectrum of project execution and go beyond just planning and financing, people aware of the details told ET. The ministry has reached out to various multilateral bodies to help mobilise other development finance institutions (DFIs) and investors, they said. Key Points
Economic TimesReady for re-rating once again? 4 stocks from textile sector with upside potential of up to 24%
In past 3 years, a host of sectors have been making a comeback. There are two kinds of comebacks, first is in terms of macro structure of the business witnessing an improvement and hence the bottomline showing an improvement and second is in the stock price performance. Both are very different and that's the most important needed to be taken into account. In last 8-9 years, there has been a policy-level effort to revive sectors like textiles for two reasons. First, it is a labor-intensive sector and impacts a large number of people. Second, there was an opportunity to cut imports and push exports. All the policy efforts were having a moderate impact but then came Covid and China plus one came into the picture, changing the whole picture externally. Internally, help came in the form of the PLI scheme which helped some companies reduce cost of capital and resources for expanding. This list is drawn from Stock Reports Plus, powered by Refinitiv, with over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum. Key Points
Economic Timescost of Living LIVE Updates Jan 03: Fuel prices steady. Check petrol and diesel prices in your city here
Cost of Living LIVE Updates Jan 03: The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket. In some relief, India's retail inflation witnessed a notable decline in September, dropping to a three-month low. Key Points
MintMidcap and smallcap stocks will continue to outperform, says Vinit Bolinjkar. Here’s why
Vinit Bolinjkar, Head of Research at Ventura Securities, expects earnings to continue strong in India, especially with an influx of bond money that will lower the cost of funds. He remains positive on midcap and smallcap stocks, as earnings have been solid and there are opportunities for growth and lower acquisition costs for MSMEs. Bolinjkar also believes that consolidation in the cement industry will benefit smaller players. Key Points
Economic TimesIndia’s trade policy is working great — for Vietnam
Elsewhere in Asia, the contest is about semiconductors, the high-value heart of communication, transportation, artificial intelligence, and a lot else besides. From Thailand to Singapore and Malaysia, several countries are now in the fray to shift the locus of front-end chip manufacturing from East to Southeast and South Asia. India is trying tostep on that ladder via packaging and testing. While those plans are yet to bear fruit, cheap labor has already made the nation an upcoming rival to Vietnam in a low-value-added activity like assembling electronics parts. Key Points
Economic Times
Ola Electric to give India its first Gigafactory next year: CEO Bhavish Aggarwal
Ola Electric's founder & CEO, Bhavish Aggarwal, has said that India's first large-scale Gigafactory for rechargeable batteries used in electric vehicles will be operational by next year. The facility will aim to reduce the cost of electric vehicle production with the cells and batteries. Key Points
Economic TimesCAG audit flags huge cost overruns in Dwarka Expressway project
The National Highways Authority of India (NHAI)'s decision to opt for elevated carriageway on the Haryana portion of the expressway has pushed up the construction cost to Rs 251 crore per km from the originally approved Rs 18.2 crore per km, the report pointed out. Key Points
Economic Times