The State of the Economy report from RBI suggests the time is ripe to boost demand and investment, with an anticipated economic rebound driven by strong agricultural prospects and a resurgence in domestic demand. Emphasis is placed on monitoring inflation and leveraging public capital expenditure and green energy initiatives for sustainable growth.
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Venture capital fund Cedar-IBSi Capital forecasts USD 1 billion investment in India's BankTech sector by 2027, highlighting its role in achieving a USD 7 trillion GDP target by 2030. Founder Sahil Anand underscores digital transformation in banking, emphasizing technology's impact on financial inclusion. The fund plans to back 10–15 early-stage startups within this transformative sector.
Finance Minister Nirmala Sitharaman is set to present the first full Union Budget of the Modi 3.0 government on February 1, 2025. This will be her eighth consecutive budget, bringing her closer to Morarji Desai's record of ten. The budget aims to stimulate economic growth and provide relief to the middle class.
Neelkanth Realtors, a Mumbai-based real estate developer, files draft papers with Sebi for an IPO to raise funds through the issuance of 1.35 crore equity shares. The proceeds will be used for project development, debt repayment, and general corporate purposes. The shares will be listed on BSE and NSE.
In March, GST collections increased by 9.9% to Rs 1,96,141 crore, with a significant rise in import-related revenue. Despite a resilient economy and strong consumer spending, the slower growth in domestic collections may lead to increased government monitoring and scrutiny to address potential tax leakages.
India's current account deficit fell to 1.2% of GDP in Q2 FY25, down from 1.3% the previous year, despite a worsening trade deficit driven by higher gold imports. Services exports rose significantly to $44.5 billion, helping offset the larger trade gap.
Senior officials from India's commerce ministry are meeting with commercial representatives from 20 countries to discuss strategies for boosting exports. The focus is on six key goods and services sectors, addressing non-tariff barriers, logistics, and WTO matters. Commerce Minister Piyush Goyal will also participate. India's export-import data reflects a significant trade deficit due to rising imports in November.
Aragen Life Science, formerly GVK Biosciences, secures a $100 million investment from healthcare-focused private equity fund Quadria Capital. The investment will support Aragen’s strategic expansion and infrastructure development to meet growing demand for outsourcing services from US and Europe innovators. This move positions Aragen strongly in the pharmaceutical outsourcing market, enhancing its capabilities and accelerating program delivery.
The US economy ended 2024 with a solid performance driven by strong consumer spending and government support resulting in a 2.8% growth for the year. Despite inflation pressures and a slight dip in business investment, the overall economic outlook remains positive as President Donald Trump takes office in 2025.
New Income Tax Bill 2025: The language used in the Bill at many places is extremely lucid and is reader friendly as it has tables and formulas as against the traditional verbose style.
Stock market recommendations: Jio Financial Services, Tata Motors, and Finolex Industries are recommended for buying today based on technical indicators suggesting potential reversals.