BUSINESS
GDP forecast of 6.5% for current fiscal looks possible, says government
"We are now prepared to say that risks to our GDP growth forecast of 6.5 per cent for 2023-24 are now more evenly balanced than a few months ago when downside risks to the forecast were greater," Chief Economic Adviser (CEA) V. Anantha Nageswaran told reporters after GDP data for the fourth quarter of 2022-23 and for the entire fiscal was released.
PM Modi hails 2022-23 growth figures, says they show Indian economy's resilience
"The 2022-23 GDP growth figures underscore the resilience of the Indian economy amid global challenges," he tweeted. He added that "this robust performance along with overall optimism and compelling macro-economic indicators exemplify the promising trajectory of our economy and the tenacity of our people".
German brand Blaupunkt to invest Rs 100 cr in TV manufacturing in India, eyes 10% market share
The investment will be aimed towards new launches, manufacturing plant, sound technology, marketing and expansion plan.
The company will also introduce 5 new Dolby-enabled Android/Google TVs on June 5, including 75 QLED, 65 4K(GTV), 50 4K(GTV), 43 FHD, 40 FHD and 32 HD, starting from Rs 10,888.
At 7.2%, India's GDP numbers higher than expected: NSO
According to NSO, which comes under the Ministry of Statistics and Programme Implementation, the growth in real GDP during 2022-23 is estimated at 7.2 per cent as compared to 9.1 per cent in 2021-22. The GDP growth during the fourth quarter of 2022-23 was at 6.1 per cent, NSO said.
Government received Rs 1,70,501 crore in April as revenue
Non-debt capital receipts consists of recovery of loans of Rs 592 crore and miscellaneous capital receipts of Rs 9 crore. An amount of Rs 59,140 crore has been transferred to state governments as devolution of share of taxes by the Central government upto this period, which is Rs 11,548 crore higher than the previous year.
Indian stock markets go down after four days of uptrend
The Sensex of the BSE opened at lower note at 62,839.97 after closing at 62,969.12 on Tuesday. After touching a high of 62,876.77 points, it closed at 62,622.24 points, down by 346.89 points. Similarly, the Nifty 50 of NSE opened at 18,594.20, after closing at 18,633.85 points on Tuesday. It touched a high of 18,603.90 and closed at 18,534.40 points.
Twitter's worth down to just $15 bn under Musk: Report
Twitter has struggled financially since Musk took over. The financial services giant Fidelity estimated in its monthly report of portfolio valuations that Twitter is now worth just one-third worth of what Musk paid for the micro-blogging platform, reports Bloomberg.
Adani Ports Revenue and EBITDA jumps over 20% in FY23
Over the last 5 years, APSEZ's revenue and EBITDA have grown at a CAGR of 16-18 per cent, while the company's domestic market share jumped 800bps to 24 per cent in FY23. APSEZ did record investments of around Rs 27,000 crore in FY23, which includes six major acquisitions totaling around Rs 18,000 crore and organic capex of around Rs 9,000 crore.
Bezos prepares prenuptial pact with Sanchez to protect his $138 bn fortune
The engagement has now given their lawyers a riveting task, reports Hello! Magazine. "Following his divorce with Scott, which cost him $38 billion due to the lack of a prenuptial agreement, Bezos is likely to opt for extensive legal measures to protect his $138 billion fortune,
Indian bourses continue their upwards trend on Tuesday
The Sensex of the BSE crossed the 63,000 mark to touch a high of 63,036.12 points after opening at 62,839.85 points. It closed at 62,969.13 points, up by 122.75 points. Incidentally, the Sensex all-time high was 63,583.07 points achieved on December 1, 2022. Equity benchmark indices extended their winning streak.
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