CNG prices hiked by Re 1 in Delhi-NCR from today. Check new rates
In Delhi, the price of CNG has been revised from Rs 74.59 per kg to Rs 75.59 per kg. In Noida, the revised rate is Rs 81.20 per kg, and Greater Noida is 80.20 per kg. Key Points
India TodayGovt spent 80% of revised FY24 capex outlay
The official said the collections under various small savings scheme remain healthy this fiscal and will be in sync with the revised estimate. The net mop-up for senior citizens breached ₹90,000 crore as of end-January this fiscal, way above that of ₹37,362 crore in the whole of FY23. The surge is mainly driven by the 2023 Budget move to double the deposit limit under the scheme to₹30 lakh. Key Points
Economic TimesBPSC TRE 2023 phase 2 revised exam schedule out at bpsc.bih.nic.in, notice here
BPSC TRE 2023 phase 2 revised exam schedule has been released. Check the notice here. Key Points
Hindustan TimesUN raises India’s GDP forecast for FY24 to 6.9%
The United Nations has revised upwards India’s growth projections for 2024, a month after the World Bank did so. However, the UN’s revised... Key Points
The Tribune IndiaJapan avoids technical recession as Q4 GDP revised up to slight expansion
Japan’s gross domestic product (GDP) expanded at an annualized pace of 0.4% in the October-December quarter, the revised data by Cabinet Office reported on Monday, better than the initial estimate for a 0.4% contraction. Key Points
mint
India's economy rose 8.4% in Oct-Dec, manufacturing sector played key role, shows govt data
The growth rate was much faster than economists' forecasts of 6.6% as seen in a Reuters poll, and higher than revised growth of 8.1% in the previous quarter. Key Points
ThePrintGovt has reduced time taken to finalise GDP data by an entire year. Here's inside story of how
GDP data: This year, govt announced that 2nd and not 3rd revised estimates would be final. Here’s inside story on how this was achieved. Key Points
ThePrintFiscal gap till January shrinks
The central government contained its fiscal deficit in the 2023-24 financial year at 63.6% of the revised target despite a moderation in nominal GDP growth. The deficit dropped 7.3% from a year ago period to ₹11.03 lakh crore. Revenue spending moderated while capital spending remained lower than the revised target. Key Points
Economic TimesVedanta-Foxconn JV applies again for Semicon sops
The company had earlier applied to receive incentives for making 28 nm chips. It has now modified its application to manufacture 40 nm chips and receive incentives in that category, a source said. Earlier this year in May, the IT ministry had revised the guidelines for applying for incentives and said the applicants would now be able to apply as and when they either have a production grade technology or have a partnership with such company. Key Points
Economic TimesIndirect tax dept on revenue drive, urges field offices to ensure maximisation of collections
The government has pegged the indirect tax target at Rs 13.85 trillion in the revised estimates for 2022-23. Key Points
Financialexpress
Centre may save ₹45k cr on lower capex by states, subsidy payout
Central government plans to cut fiscal 2024 spending by ₹45,000 crore with savings from subsidy bill reductions, states' under-utilisation, and improved tax collections. Softening fertiliser prices and revised expenditure estimates also contribute to the savings. Key Points
Economic TimesUS third-quarter economic growth revised up to 5.2%
The U.S. economy's third-quarter growth was revised upwards to a 5.2% annualized rate, exceeding the previously reported 4.9%. The Commerce Department's Bureau of Economic Analysis released the second estimate, indicating the fastest expansion since Q4 2021. The revision was attributed to upgrades in business investment, state and local government spending, and residential investment. Key Points
Economic TimesStep-by-step guide to how Indians in the U.S. can benefit from revised EAD rules
Step-by-step guide to how Indians in the U.S. benefit from revised Employment Authorization Documents rules. | World News Key Points
Hindustan TimesIcra revises upwards FY24 GDP growth forecast to 6.5%
Earlier this month, the RBI had revised upwards its GDP estimate to 7 per cent from 6.5 per cent, calling the revised number a conservative one. The rating agency did not specify reasons for the lower growth estimate made in its business activity monitor. Key Points
Economic TimesOPSC OCS Main Exam 2021 schedule revised, notice here
OPSC OCS Main Exam 2021 schedule has been revised. Candidates can check the examination schedule through the official notice given below. | Competitive Exams Key Points
Hindustan Times
Q3 GDP-GVA divergence tied to reduced fertiliser subsidy: Govt official
India's GDP spiked to a six-quarter high of 8.4% in Q3 FY24, surpassing estimates, while GVA growth stood at 6.5% during the same period. Key Points
mintEconomy on fire: India's GDP revised up again
At 7.6%, the latest growth estimate for 2023-24 is better than the 7.3% the government had earlier predicted, although our growth needs to be broader based. The farm sector has stagnated. Key Points
mintChange with the times: NSC Committee suggests overhaul of statistics infra
The panel submitted a report to the NSC, which will suggest the way to take the process forward to the statistics and programme implementation ministry, they said. The move come after the ministry suggested leveraging big data analytics, artificial intelligence and machine learning in its revised draft of national policy on official statistics in August. Key Points
Economic TimesPage Industries share price tanks 13% after Q4 net profit falls 59%; Should you buy, sell, hold?
Page Industries stock plunged 13% on Friday. The company’s shares have fallen over 12% in the past one month, and nearly 14% in the past one year. Key Points
FinancialexpressIndia's April-January fiscal deficit widens on-year to Rs 11.91 lakh crore, 67.8% of revised FY23 aim
Total receipts stood at 19.77 lakh crore rupees, while overall expenditure in April to January was at 31.68 lakh crore rupees. They were 81.3% and 75.7% of this fiscal year's revised budget target. Revenue receipts stood at 19.20 lakh crore rupees, of which tax revenue was 16.89 lakh crore rupees and non-tax revenue was 2.31 lakh crore rupees. Key Points
Economic Times
India's April-January fiscal deficit widens on-year to 67.8% of revised FY23 aim
Total receipts stood at 19.77 lakh crore rupees, while overall expenditure in April to January was at 31.68 lakh crore rupees. They were 81.3% and 75.7% of this fiscal year's revised budget target. Revenue receipts stood at 19.20 lakh crore rupees, of which tax revenue was 16.89 lakh crore rupees and non-tax revenue was 2.31 lakh crore rupees. Key Points
Economic TimesET Explains: What is ASI, and what is its connection with GDP?
India swiftly recovered from the Covid-19 pandemic, with employment rising above pre-pandemic levels in 2021-22, according to the latest Annual Survey of Industries (ASI). Investment growth also picked up during this period. The ASI measures industrial statistics of registered manufacturing enterprises and provides data on gross value added, output, inputs, invested capital, net income, and profits. The 2021-22 results indicated a sharp recovery in employment, with 17.2 million people employed by enterprises during the fiscal year. The ASI data helps determine the industrial sector's contribution to GDP. Key Points
Economic TimesUpload revised alignment map on website within 24 hours, Madras High Court directs Chennai Metro Rail Limited
The Madras High Court on Wednesday directed Chennai Metro Rail Limited (CMRL) to upload on its website, a map of the realigned route, finalised between Madhavaram Milk colony and Murari Hospital, after it the giving up the earlier plan to take a circuitous route to establish the Thapalpetti metro station was discarded. CMRL was ordered to upload the revised map within 24 hours. Justices Anita Sumanth and M. Nirmal Kumar also called for a compliance report in this regard by Thursday. Key Points
The HinduBajaj Auto Q4 beat: Should you buy, sell or hold the stock?
Despite recording stronger-than-expected Q4 earnings, Bajaj Auto shares fell. The company has seen some market share losses in premium bikes and exports. Jefferies analyst Nitij Mangal sees multiple tailwinds, including the rebound of domestic demand and gradual export recovery. Key Points
Economic TimesFiscal deficit at 83% of RE in Apr-Feb, to meet target
With limited fiscal concerns and the end of monetary policy tightening in sight by the RBI as well as the US Fed, ICRA expects the 10-year G-sec yield to trade between 7.25-7.50% in H1 FY24, Nayar said. The 10-year G-sec yield was quoted at 7.3% on Friday. Key Points
The Indian Express
Govt releases fresh clinical guidance for COVID-19 amid rise in cases
In recent weeks, the risk of H3N2 influenza as well as COVID-19 has risen sharply. Several states have reported an uptick in cases, with officials issuing alerts and calling for precautionary measures to be taken. Key Points
mintTech transfer details must for public procurement bids by border nation companies
India has revised registration requirements for bidders seeking to participate in public procurement with beneficial ownership in countries that share a land border with the country. Applicants have to submit one hard copy to the Department for Promotion of Industry and Internal Trade. As per the revised format, bidders must provide details of manufacturers, service providers, contractors, and entities providing transfer of technology (ToT) (if different from the bidder) for security clearance. Key Points
Economic TimesNestle's highest revenue growth in the decade surprises Street. Should you buy, sell or hold?
We upgrade our EPS est. by 3-4% and roll over to Mar-25. At ~65x 1-year forward EPS, Nestle trades higher than 5-year average and remains the most expensive staples stock in our coverage; we retain Hold with a revised target price of Rs 19,300 (was Rs 18,100), said Jefferies in a post earnings note. Key Points
Economic TimesGovernment looks to keep borrowing in check
The big pandemic stimulus and the contraction in the economy worsened the combined Centre and state debt-to-GDP ratio to 89.2% in FY21 from 75.1% in FY20. The International Monetary Fund (IMF) has forecast the ratio will improve to 83.5% of GDP in FY23 and gradually ease from FY26 onwards. Key Points
Economic TimesWill stick to 5.8 pc fiscal deficit pegged in RE for FY23: Official
New Delhi, Mar 1 (PTI) The government expects the fiscal deficit to be within the revised estimates of 5.8 per cent of GDP in the current fiscal ending March, an official said on Friday. The revised estimates (RE) had pegged the fiscal deficit at Rs 17.35 lakh crore or 5.8 per cent of GDP in […] Key Points
ThePrint
NEET PG counselling 2023 schedule revised, choice filling date extended
NEET PG and NEET MDS counselling schedules revised by MCC. Check the revised schedule below. Key Points
Hindustan Times‘Comparing apples to oranges’: Why Govt is defending slowing GDP growth
The government has said there is "much misunderstanding" of the GDP data for Q3, which shows quarterly growth slowing to 4.4 per cent. Key Points
The Indian ExpressFiscal deficit may fall below revised estimate of 5.8%
The Indian government's fiscal deficit could be slightly lower than revised estimates of 5.8% of GDP due to robust revenues and lower subsidy outgo. Tax revenues could exceed the revised estimate by ₹27,000 crore. The fiscal deficit in absolute terms is pegged at ₹ 17.3 lakh crore. Direct tax receipts are expected to exceed revised estimates by about Rs 14,000 crore, while indirect revenues, including customs and excise duty, by Rs 13,000 crore. Key Points
Economic TimesLIC shares slip after 17% salary hike
India Business News: Read about the recent dip in LIC shares following a 17% salary hike announcement by the corporation. Stay updated on the latest financial news. Key Points
Times Of IndiaIndia's April-January fiscal deficit at Rs 11.03 lakh crore, narrows on-year to 63.6% of revised FY24 aim
India's fiscal deficit for April to January, or the first 10 months of this fiscal year, was at 11.03 lakh crore rupees, equivalent to 63.6% of annual estimates, narrowing from the previous year's 67.8%. The government aims to narrow the fiscal gap to 5.8% of GDP in this financial year from 6.4% a year earlier. Key Points
Economic Times
ET Explains: How does the government calculate the first advance estimate and how does it differ?
The Indian government is set to release the first advance estimate of GDP for FY24 on Friday, followed by five more releases over three years. The first advance estimate is calculated using the benchmark indicator method and provisional data from high-frequency indicators. The system was introduced in 2016-17 to help with the budget exercise, estimating the nominal GDP for the next year and determining budget targets. Key Points
Economic TimesGovt to stick to Rs 33.61 lakh cr tax collection target in revised estimate, no case for fuel tax cut: Off
So far, direct tax collection is up by about 20 per cent and indirect tax is higher by 5 per cent. We have data till the eight months of the fiscal and usually the collections are better in the first half. So, at the moment, we will stick to the Budget numbers in our revised Estimates (RE), an official said. Key Points
Economic TimesYou cannot can keep these things in a bank locker
As per RBIs revised guidelines on lockers, the revised Locker Agreement is to be executed by all the existing locker holders. The RBI has set December 31, 2023 deadline to execute revised locker agreements, in a staggered manner. Key Points
Economic TimesIndia's industrial output rose 3.7% in June
India's industrial output (INIP=ECI) rose 3.7% year-on-year in June, data from the Ministry of Statistics showed on Friday. Key Points
ReutersDaily brief: TMC MP alleges Sansad TV trimmed screen time of Oppn leaders
Here are today’s top news, analysis, and opinion. Know all about the latest news and other news updates from Hindustan Times. | Latest News India Key Points
Hindustan Times
Bankruptcy court approves Darwin Platform's resolution plan for Lavasa Corporation
The Mumbai bench of the National Company Law Tribunal (NCLT) Friday approved a revised and improved resolution plan submitted by Darwin Platform Infrastructure for the revival of Lavasa Corp., which was formed to build Indias first modern hill town after Independence. Key Points
Economic TimesCrisil revises Vedanta’s NCD, long-term bank facilities to negative
Crisil Ratings has revised the rating of ₹6,444 crore and ₹3,000 NCDs to negative, while it reaffirmed a ‘AA’ rating. It reaffirmed a A1+ rating for ₹10,000 crore commercial paper and short-term loan facilities. Key Points
FinancialexpressFY23 fiscal deficit target of 6.4% within reach: DEA secy
The revised capex target of Rs 7.3 trillion would, however, be met in FY23, he said. Key Points
FinancialexpressHealth Ministry issues revised guidelines for Covid-19 amid rise in cases
Antibiotics should not be used unless there is clinical suspicion of bacterial infection. The possibility of coinfection of COVID-19 with other endemic infections must be considered. Systemic corticosteroids are not indicated in mild disease, revised guidelines said. Key Points
Economic Timesrevised terms for EY split leave India partners jittery
The uncertainty increased after a partner call on Wednesday led by Julie Boland, chair of EY US and Americas region, in which she said the agreement needed to be revised. Boland is slated to take over as global chairman and chief executive of audit business after the split. Key Points
Economic Times