BUSINESS
India's Apr-Dec fiscal deficit at over 145% of budgeted target
The 2020-21 deficit -- the difference between revenue and expenditure -- had been pegged at Rs 7.96 lakh crore, as compared to the revised deficit of Rs 7.66 lakh crore for the last fiscal. As per the Controller General of Accounts (CGA) data released on Friday, the fiscal deficit during the corresponding months of the previous fiscal was 132.4 per cent of that year's target.
Govt may announce farm loan waiver scheme in Budget
Experts say the government may consider announcing a loan waiver scheme to appease farmers across the country. The rationale behind this is that when the government announces a loan waiver, debt-burdened farmers get relief and farmers' confidence in the government increases.
Union Budget 2021: Meet Finance Minister Nirmala Sitharaman's team members
The budget for the next fiscal year is crucial as it will showcase the government's vision on how to it plans to tackle the impact of Covid-19 pandemic on the Indian economy. On the 1st of February, Nirmala Sitaraman will be the cynosure for both media and the general public. However, let's not forget that there is a team of senior civil servants and economists who help the Finance minister in finalising the Budget proposals.
Economic Survey 2020-21: Key highlights
The budget for 2021-22 would be released three days later on February 1 by the Finance Minister in the parliament from 11 AM. It will also be then discussed in detail by the finance ministry in the assembly itself.
WeWork plans new route for comeback in public markets: Report
A possible deal, as reported by the Wall Street Journal, could value WeWork at $10 billion, ushering a new era for WeWork to enter the public markets and launch a traditional initial public offering (IPO). WeWork currently has more than $3.6 billion of cash and unfunded cash commitments, including more than $875 million in available cash -- "more than sufficient liquidity to weather a prolonged COVID environment."
V-shaped economic recovery due to timely, stringent lockdown
The document was tabled by Finance Minister Nirmala Sitharaman in Lok Sabha on Friday. "Evidence from the experience of Spanish flu establishes that cities that intervened with lockdowns earlier and more aggressively experience stronger recovery in the economic front in the long run," the survey said.
Economic Survey 2020-21 Updates: India's FY21 GDP to contract 7.7%
The document which was tabled by Finance Minister Nirmala Sitharaman in the Lok Sabha in its debt simulations for worst-case debt analysis assumed the contraction at (-) 7.7 per cent. According to the survey, the real growth rate for FY22 was assumed at 11.5 per cent based on IMF estimates.
India's fundamental growth drivers remain resilient: Boeing India
Accordingly, Boeing will hold discussions with customers and industry partners about its range of capabilities during the upcoming event. At the exhibit, Boeing will feature F/A-18 Block III Super Hornet, F-15EX, KC-46A, AH-64E Apache, P-8I, Chinook, 737-10 and 787-9.
Radico Khaitan' Q3 net profit up 40%
During the same period last year, the company had reported a net profit of Rs 59.74 crore. The company reported operational revenue of Rs 2,971.15 crore during the period under review, up 17.67 per cent on a year-on-year (YoY) basis.
FIIs' Flight: Some funds exit India but most stay invested
Accordingly, the FIIs have net sold over Rs 6,800 crore from the equity markets in the last four sessions, the longest exit spree since March and September. However, analysts said that FIIs have in total invested about Rs 1.25 lakh crore since November 2020. Besides, concerns over the Centre's ability to expand fiscal spend in the Budget FY22 to usher in faster growth has been cited by analysts as one of the reasons for FIIs' exit.
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