Budget 2025 expectations: Gold traders, including jewellers and bullion sellers, hope Finance Minister Nirmala Sitharaman will enable middle-class purchases of gold via EMI and fund artisan upskilling in the Union Budget 2025.
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Gold prices, after surging over 30% in 2024, are projected to moderate in 2025. Factors like economic growth, inflation, potential trade wars under Trump's second term, and interest rate uncertainty could dampen investor and consumer demand. While central bank buying and geopolitical tensions fueled the 2024 rally, a stronger dollar post-election has stalled gains.
The finance ministry's report indicates that the combination of RBI's monetary policy and structural factors may have led to the economic slowdown. The ministry highlighted slowed urban consumption and cautious corporate hiring practices as contributors. The report anticipates improved growth in the second half of FY25, while stressing the need for a comprehensive commitment to sustaining growth amidst global uncertainties.
The BJP-led Delhi government, under chief minister Rekha Gupta, is developing a new excise policy designed to boost revenue while ensuring transparency and avoiding societal issues. Drawing inspiration from successful excise policies in other states, the forthcoming policy aims to be "foolproof." This initiative follows the scrapping of the previous AAP government's excise policy due to corruption allegations.
Adani Group is officially withdrawing from a $442 million wind power project in Sri Lanka after the government attempted to renegotiate the agreement for better energy rates.
Stephen Schwarzman of Blackstone believes the new US tariff regime could boost American growth and global consumption. He indicates India is well-placed in tariff negotiations and highlights the necessity of infrastructure investment and streamlined project approvals. Schwarzman remains optimistic about India's long-term economic trajectory despite market fluctuations.
The plywood and MDF board industry in India, which initially opposed the government's quality control order, now supports its implementation to benefit consumers and enhance industry capacity utilization. Over 200 items, including furniture and steel products, will be subjected to QCOs to ensure international quality standards, boosting investments and local production.
IndusInd Bank disclosed that an external review quantified the impact of discrepancies in its derivatives portfolio, resulting in a Rs 1,979 crore hit to its net worth as of June 2024. This translates to a 2.27% reduction by December 2024. Following initial reports of derivative losses, the bank's stock experienced significant volatility, although it rallied nearly 7% on Tuesday.
Honda Cars India Ltd reported a 20% increase in total sales for 2024, with exports more than doubling. However, domestic sales dropped by 18.55%. Notable achievements include record exports primarily driven by the mid-size SUV Honda Elevate, and anticipation for a strong 2025 with new models.
Rebel Foods, supported by Temasek and KKR, is entering the quick food delivery sector with its 15-minute service branded as QuickiES. Utilizing its existing cloud kitchens and customer data from its EatSure app, Rebel Foods aims to offer fresh and quality snacks swiftly, intensifying competition in this evolving market.
The Indian government is revising its Production-Linked Incentive (PLI) scheme to include broader support for new sectors such as footwear, toys, and textiles. The new approach will address inputs, skilling, and other aspects comprehensively, learning from earlier implementations that faced challenges with dependence on component imports.