Jul 22, 2024, 8:11 pm IST
Budget 2024 Live Updates: Sarbvir Singh, Joint Group CEO, PB Fintech
'The survey called for targeted policies to increase insurance penetration, particularly in underserved rural areas, and encouraged collaboration between the government and private sector to innovate and promote inclusive insurance solutions."
Jul 22, 2024, 8:11 pm IST
Budget 2024 Live Updates: Sarbvir Singh, Joint Group CEO, PB Fintech
"Platforms like Aadhaar and DigiLocker have assisted in leading the country towards financial inclusion for all - and have been a significant contributor to the overall growth in the Fintech sector."
Jul 22, 2024, 8:10 pm IST
Budget 2024 Live Updates: Sarbvir Singh, Joint Group CEO, PB Fintech
"The Economic survey highlighted that India is the third largest fintech market in the world - fuelled by govt-promoted open platforms and growing fintech players."
Jul 22, 2024, 8:10 pm IST
Budget 2024 Live Updates: Sarbvir Singh, Joint Group CEO, PB Fintech
"In the last couple of years, the insurance sector has witnessed the entry of many new insurance providers and the rise of insurtechs, bringing healthy competition and a variety of offerings to the market."
Jul 22, 2024, 8:10 pm IST
Budget 2024 Live Updates: Sarbvir Singh, Joint Group CEO, PB Fintech
"India is at the cusp of becoming one of the fastest-growing insurance markets globally. This growth has been driven by factors like an expanding middle class, rapidly increasing digital access, and progressive regulatory reforms."
Jul 22, 2024, 8:09 pm IST
Budget 2024 Live Updates: Sarbvir Singh, Joint Group CEO, PB Fintech
"The stakeholders need to unite in their efforts to bring the consumer and the industry on the same page to build better trust and transparency between them."
Jul 22, 2024, 8:09 pm IST
Budget 2024 Live Updates: Sarbvir Singh, Joint Group CEO, PB Fintech
"To further boost consumer trust and insurance adoption, we need prompt and fair claim settlements. Identifying and correcting mis-selling and misrepresentation, and compensating for losses, are non-negotiable practices for sectors like banking, insurance and fund management."
Jul 22, 2024, 7:23 pm IST
Budget 2024 Live Updates: Sarbvir Singh, Joint Group CEO, PB Fintech
"The Economic Survey also raised the crucial and prevalent issue of product mis-selling in the insurance industry. With tech advancement and the rise of AI & ML, it has become a lot easier for the industry to detect and prevent fraud in early stages."
Jul 22, 2024, 7:22 pm IST
Budget 2024 Live Updates: Sarbvir Singh, Joint Group CEO, PB Fintech
"Expanding access to affordable insurance products will not only protect individuals and families from unforeseen financial shocks but also contribute to the overall stability and resilience of our economy."
Jul 22, 2024, 7:06 pm IST
Budget 2024 Live Updates: Sarbvir Singh, Joint Group CEO, PB Fintech
"While our economic indicators show promising growth, we must address the gap in insurance coverage across the nation, particularly in the health insurance sector."
Jul 22, 2024, 7:06 pm IST
Budget 2024 Live Updates: Sarbvir Singh, Joint Group CEO, PB Fintech
"The survey also highlighted the critical need for deeper insurance inclusion to safeguard the financial well-being of the population."
Jul 22, 2024, 6:32 pm IST
Budget 2024 Live Updates: Sarbvir Singh, Joint Group CEO, PB Fintech
"In its latest Economic Survey, the Ministry of Finance has projected a robust growth trajectory for the upcoming fiscal year, driven by strong consumer demand and industrial expansion."
Jul 22, 2024, 5:28 pm IST
Budget 2024 Live Updates: Gaurav Malhotra, Managing Director, Hansgrohe India
"These reforms will collectively contribute to the growth of our industry and enable us to continue delivering innovative solutions that can meet the high standards of luxury and cater to the individuals who are aspiring to live a luxury lifestyle."
Jul 22, 2024, 5:26 pm IST
Budget 2024 Live Updates: Gaurav Malhotra, Managing Director, Hansgrohe India
"We hope to see initiatives aimed at boosting local manufacturing capacity that can further strengthen the make-in-India initiative and also increase the availability of world-class products in the domestic market."
Jul 22, 2024, 5:22 pm IST
Budget 2024 Live Updates: Gaurav Malhotra, Managing Director, Hansgrohe India
"We urge the government to put a rationalization on GST and reduce home loan interest to stimulate demand and growth for the luxury real estate sector."
Jul 22, 2024, 5:17 pm IST
Budget 2024 Live Updates: Gaurav Malhotra, Managing Director, Hansgrohe India
"We are optimistic about the positive measures that will bolster the luxury real estate sector and enhance the overall market dynamics. This aligns with the growing aspirations towards a luxury lifestyle, where consumers seek high-quality, sophisticated home interior solutions."
Jul 22, 2024, 3:54 pm IST
Budget 2024 Live Updates: V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"President Biden opting out of the presidential race is unlikely to influence the market now. Market will wait for clarity to emerge on Trump’s winning chances."
Jul 22, 2024, 3:54 pm IST
Budget 2024 Live Updates: V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"If there is any disappointment in these areas the market can react negatively. On the other hand, if the Budget delivers on expectations, aggressive retail buying can lift the market to new highs."
Jul 22, 2024, 3:41 pm IST
Budget 2024 Live Updates: V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"It is important to understand that the market expects a positive Budget which is growth oriented and fiscally prudent with income tax reliefs for the middle class. Also the market expects status quo on the Long Term Capital Gains taxation."
Jul 22, 2024, 3:31 pm IST
Budget 2024 Live Updates: V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"Going into the Budget the market will be trading cautiously. The pressure on the broader market is likely to continue since there is more scope for profit booking."
Jul 22, 2024, 3:15 pm IST
Budget 2024 Live Updates: Deepak Bhardwaj, Co-Founder and Director, of IoTechWorld Avigation
"The Modi government may introduce a Rs 750-crore Agri-SURE fund for agri-startups and accelerate the AIF and the Integrated Scheme for Agricultural Marketing."
Jul 22, 2024, 2:59 pm IST
Budget 2024 Live Updates: Deepak Bhardwaj, Co-Founder and Director, of IoTechWorld Avigation
"The ease of documentation and faster file processing and approvals under the Agriculture Infrastructure Fund (AIF) scheme are expected to further drive this transformation."
Jul 22, 2024, 2:51 pm IST
Budget 2024 Live Updates: Deepak Bhardwaj, Co-Founder and Director, of IoTechWorld Avigation
"Additionally, increased curbs on foreign-made drones and their parts will benefit Indian drone manufacturers under the Make in India initiative. Innovations in precision farming, data analytics, and smart irrigation systems will enhance productivity and sustainability. Leveraging AI and IoT, farmers can make data-driven decisions, optimize resource use, and reduce environmental impact."
Jul 22, 2024, 1:21 pm IST
Economic Survey 2024 Live Updates: Corporate CSR Spending Jumps 53% From 2017 To 2022
The Economic Survey presented on July 22 reveals a significant increase in corporate CSR spending, which surged from Rs 17,096 crore in 2017-18 to Rs 26,278 crore in 2021-22, marking a 53% rise over the period.
Jul 22, 2024, 1:03 pm IST
Economic Survey 2024 Live Updates: Employment Recovery
Employment recovery is evident in both urban and rural areas, even under the stringent criteria of the Current Weekly Status (CWS).
Jul 22, 2024, 1:03 pm IST
Economic Survey 2024 Live Updates: Increased Labor Force Participation
This decline is matched by an increase in the Labor Force Participation Rate (LFPR) and the Worker-to-Population Ratio (WPR).
Jul 22, 2024, 1:02 pm IST
Economic Survey 2024 Live Updates: Drop in Youth Unemployment Rate Over Five Years
The youth unemployment rate has decreased from 17.8% in 2017-18 to 10% in 2022-23, with a notable rise in youth participation in the labor force.
Jul 22, 2024, 12:57 pm IST
Economic Survey 2024 Live Updates: India’s Aviation Sector; Drone Hub Ambition
India aims to become a global drone hub by 2030, supported by liberalized regulations and incentives.
Jul 22, 2024, 12:56 pm IST
Economic Survey 2024 Live Updates: India’s Aviation Sector; Future Investments
Investments in infrastructure, skill development, and sustainability initiatives are essential for the continued growth of India’s aviation sector.
Jul 22, 2024, 12:56 pm IST
Economic Survey 2024 Live Updates: India’s Aviation Sector; Collaborative Efforts
The sector’s future expansion requires collaborative efforts between the government, industry stakeholders, and international partners.
Jul 22, 2024, 12:56 pm IST
Economic Survey 2024 Live Updates: India’s Aviation Sector; Infrastructure & Skill Development
Economic growth necessitates expanded airport capacity and raises sustainability concerns, alongside the need for more skilled workers.
Jul 22, 2024, 12:55 pm IST
Economic Survey 2024 Live Updates: India’s Aviation Sector; Leasing Sector Growth
As of March 31, 2024, 27 entities have registered for aircraft leasing and have leased over 20 aircraft, reflecting a promising sector outlook.
Jul 22, 2024, 12:55 pm IST
Economic Survey 2024 Live Updates: India’s Aviation Sector; Aviation Leasing and Financing
The promotion of the International Financial Services Centre (IFSC) at GIFT City has boosted aviation leasing and financing, highlighted by Air India’s recent aircraft acquisition.
Jul 22, 2024, 12:55 pm IST
Economic Survey 2024 Live Updates: India’s Aviation Sector; Air Cargo Expansion
Air cargo handled at Indian airports increased by 7% YoY to 33.7 lakh tonnes in FY24.
Jul 22, 2024, 12:55 pm IST
Economic Survey 2024 Live Updates: India’s Aviation Sector; International Traffic Surge
International air passenger traffic grew by 22% YoY, totaling 7 crore.
Jul 22, 2024, 12:54 pm IST
Economic Survey 2024 Live Updates: India’s Aviation Sector; Domestic Traffic Increase
Domestic air passenger traffic rose by 13% YoY to 30.6 crore.
Jul 22, 2024, 12:54 pm IST
Economic Survey 2024 Live Updates: India’s Aviation Sector; Passenger Growth
The total number of air passengers handled at Indian airports increased by 15% year-on-year (YoY), reaching 37.6 crore in FY24.
Jul 22, 2024, 12:54 pm IST
Economic Survey 2024 Live Updates: India’s Aviation Sector; Third-Largest Domestic Market
India ranks as the third-largest domestic aviation market and is one of the fastest-growing major aviation markets globally.
Jul 22, 2024, 12:53 pm IST
Economic Survey 2024 Live Updates; Stronger Corporate & Bank Balance Sheets to Boost Private Investment
Going forward, healthier balance sheets for corporations and banks are expected to enhance private investment. Additionally, positive trends in the residential real estate market suggest a significant increase in household sector capital formation.
Jul 22, 2024, 12:45 pm IST
Economic Survey 2024 Live Updates: Growth Strategy for Amrit Kaal
The Economic Survey 2024 outlines a comprehensive growth strategy for the Amrit Kaal period, emphasizing several key areas. There is a focus on boosting private investment and fostering the growth and expansion of India’s Mittelstand, or MSMEs. The survey highlights the potential of agriculture as a critical driver of future growth and underscores the need to secure financing for India’s green transition. Additionally, addressing the education-employment gap and building state capacity and capability are identified as crucial for sustained economic progress.
Jul 22, 2024, 12:38 pm IST
Economic Survey 2024 Live Updates: CEA Urges India To Evolve Into A Developed Nation
The Chief Economic Advisor (CEA) emphasizes that India must progress to a developed nation in the face of unprecedented global challenges. This shift requires governments to earn trust and delegate, the private sector to respond with long-term strategies and ethical practices, and the public to take responsibility for their finances, physical, and mental well-being.
Jul 22, 2024, 12:38 pm IST
Economic Survey 2024 Live Updates: Gross Fixed Capital Formation Up By 9% In Real Terms
The Government's focus on capital expenditure and ongoing private investment momentum have driven a 9% increase in Gross Fixed Capital Formation in real terms for 2023-24, as reported by the Economic Survey.
Jul 22, 2024, 12:35 pm IST
Economic Survey 2024 Live Updates: Survey On Employment And Skilling; Government Initiatives
Measures such as the Production Linked Incentive scheme and increased capital expenditure are enhancing employment generation and worker welfare.
Jul 22, 2024, 12:35 pm IST
Economic Survey 2024 Live Updates: Survey On Employment And Skilling; EPFO Payroll Data
EPFO payroll data shows more than a doubling of yearly net payroll additions from FY19 to FY24, supported by the Aatmanirbhar Bharat Rojgar Yojana.
Jul 22, 2024, 12:35 pm IST
Economic Survey 2024 Live Updates: Survey On Employment And Skilling; Female Labor Force Participation
The female labor force participation rate has been increasing for six consecutive years, particularly in rural areas, which saw a 16.9 percentage point increase since 2017-18.
Jul 22, 2024, 12:35 pm IST
Economic Survey 2024 Live Updates: Survey On Employment And Skilling; Youth Unemployment Rate
The youth unemployment rate decreased from 17.8% in 2017-18 to 10% in 2022-23, with a rise in formal employment among youth.
Jul 22, 2024, 12:34 pm IST
Economic Survey 2024 Live Updates: Survey On Employment And Skilling; Self-Employment Trends
57.3% of India’s workforce is self-employed, with a notable increase in female self-employment.
Jul 22, 2024, 12:34 pm IST
Economic Survey 2024 Live Updates: Survey On Employment And Skilling; Workforce Composition
India's workforce was estimated at 56.5 crore in 2022-23, distributed as follows: Agriculture: 45%, Manufacturing: 11.4%, Services: 28.9%, and Construction: 13%
Jul 22, 2024, 12:34 pm IST
Economic Survey 2024 Live Updates: Survey On Employment And Skilling; Urban Unemployment Improvement
The urban unemployment rate for individuals aged 15 and above dropped to 6.7% in March 2024, down from 6.8% the previous year.
Jul 22, 2024, 12:33 pm IST
Economic Survey 2024 Live Updates: Survey On Employment And Skilling; Declining Unemployment Rate
India's annual unemployment rate has been decreasing since the COVID-19 pandemic, accompanied by rising labor force participation and worker-to-population ratios.
Jul 22, 2024, 12:28 pm IST
Economic Survey 2024 Live Updates: Indian Economy Achieves 20% Real GDP Growth Since FY20
The real GDP in FY24 was 20% higher than its level in FY20, a remarkable achievement among major economies. This growth has been inclusive, marked by reductions in unemployment and multi-dimensional poverty, along with an increase in labor force participation. With these positive trends, the Indian economy is optimistic about achieving broad-based and inclusive growth in FY25 and beyond.
Jul 22, 2024, 12:28 pm IST
Economic Survey 2024 Live Updates: Rising Geopolitical Uncertainties To Impact Capital Flows
Geopolitical uncertainties, which are on the rise, are expected to have a significant influence on capital flows, despite other favorable reasons for investing in India.
Jul 22, 2024, 12:28 pm IST
Economic Survey 2024 Live Updates: CAD At 0.7% Of GDP With Surplus In Last Quarter
The current account deficit for the year stands at approximately 0.7% of GDP, with the current account registering a surplus in the last quarter of the financial year.
Jul 22, 2024, 12:27 pm IST
Economic Survey 2024 Live Updates: Unfavorable Conditions For FDI Growth
The Economic Survey 2024 indicates that the environment for foreign direct investment growth in the coming years is not highly favourable for several reasons. Higher interest rates in developed countries compared to the Covid and pre-Covid years result in increased funding costs and a higher opportunity cost for investing abroad.
Jul 22, 2024, 12:27 pm IST
Economic Survey 2024 Live Updates: Survey Projects Real GDP Growth at 6.5-7%
The survey conservatively forecasts real GDP growth between 6.5% and 7%, noting that risks are evenly balanced despite higher market expectations.
Jul 22, 2024, 12:27 pm IST
Economic Survey 2024 Live Updates: Inflation Largely Tamed, Some Food Prices High
Headline inflation is largely under control, though certain specific food items continue to see elevated inflation rates, according to the survey.
Jul 22, 2024, 11:59 am IST
Budget 2024 Live Updates: Deepak Bhardwaj, Co-Founder and Director, of IoTechWorld Avigation
"Additionally, increased curbs on foreign-made drones and their parts will benefit Indian drone manufacturers under the Make in India initiative. Innovations in precision farming, data analytics, and smart irrigation systems will enhance productivity and sustainability. Leveraging AI and IoT, farmers can make data-driven decisions, optimize resource use, and reduce environmental impact."
Jul 22, 2024, 11:43 am IST
Budget 2024 Live Updates: Deepak Bhardwaj, Co-Founder and Director, of IoTechWorld Avigation
"Under the Modi 3.0 government, the agritech industry is set for a transformative leap, with significant investments poised to revolutionize Indian agriculture. To support the deepening of drone penetration at the grassroots level, government subsidies will play a crucial role."
Jul 22, 2024, 11:02 am IST
Budget 2024 Live Updates: Krishna Appala, Sr. Research Analyst, Capitalmind Research
"A continued focus on infrastructure, including roads, railways, ports, airport expansions, defence, and tourism, is vital. Currently, the market isn’t anticipating negative surprises in areas like income tax, LTCG, STCG, or STT. However, any changes could have a short-term negative impact.”
Jul 22, 2024, 10:41 am IST
Budget 2024 Live Updates: Krishna Appala, Sr. Research Analyst, Capitalmind Research
"Budget expectations include larger PLI in battery manufacturing, toys, and high-end machinery, with increased support for sectors like semiconductors, renewable energy, nuclear power, and low-cost housing."
Jul 22, 2024, 10:12 am IST
Budget 2024 Live Updates: Krishna Appala, Sr. Research Analyst, Capitalmind Research
"The market is expected to expand from .6B in 2024 to B by 2029, with demand outpacing supply."
Jul 22, 2024, 10:12 am IST
Budget 2024 Live Updates: Krishna Appala, Sr. Research Analyst, Capitalmind Research
"The government is incentivizing domestic production with Rs. 76,000 Cr, projecting the ESDM market to grow from B to 0B in 5-7 years."
Jul 22, 2024, 9:51 am IST
Budget 2024 Live Updates: Krishna Appala, Sr. Research Analyst, Capitalmind Research
"The defence budget has increased to Rs. 6.2 lakh Cr, aiming for 70% self-sufficiency and a Rs. 1.75 lakh Cr turnover by 2025."
Jul 22, 2024, 9:29 am IST
Sensex & Nifty Open Lower Amid Weak Global Cues
Amid weak global cues, Indian indices opened lower on July 22, with the Nifty falling below 24,400. The Sensex dropped 301.36 points, or 0.37%, to 80,303.29, while the Nifty declined 117.70 points, or 0.48%, to 24,413.20. In early trading, about 891 shares advanced, 1,888 shares declined, and 177 shares remained unchanged. Major gainers on the Nifty included Britannia Industries, ITC, HDFC Bank, Infosys, and Apollo Hospitals. The major losers were Wipro, Reliance Industries, Kotak Mahindra Bank, Shriram Finance, and Eicher Motors.
Jul 22, 2024, 9:09 am IST
Rupee Opens Mildly Higher
The Indian Rupee opened at 83.65 per US Dollar on Monday, rising 1 Paise from Friday's close of 83.66.
Jul 22, 2024, 8:35 am IST
Budget 2024 Live Updates: Krishna Appala, Sr. Research Analyst, Capitalmind Research
"The government plans a Rs. 4.75 lakh Cr investment to upgrade India's power transmission, targeting 618 GW capacity by 2028, along with metro expansions in over 40 cities and Rs. 1.5 lakh Cr in oil and gas."
Jul 22, 2024, 8:00 am IST
Budget 2024 Live Updates: Krishna Appala, Sr. Research Analyst, Capitalmind Research
"As we approach the budget next week, the spotlight is on key sectors: Capital Goods, Defence, ESM, and Tourism. The market anticipates a continuation of last year's incentives, maintaining the status quo."
Click it and Unblock the Notifications
Sign in with Google