Economy news

• Economic growth likely to pick up on festive, rural demand: RBI

  24-12-2024 21:51 via timesofindia.indiatimes.com
  
  India's economic growth is expected to improve in the latter half of FY25, driven by festive activity, rural demand, and agricultural growth. The RBI report highlights potential moderation in food prices, government capital expenditure challenges, and broader economic trends affecting GDP and inflation projections.
  
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• India Projected To Witness 6.5% Real GDP Growth In current, Next Fiscal: Report

  25-12-2024 16:23 via zeenews.india.com
  
  The available high frequency data for October and November point to a mixed picture regarding the growth momentum of the Indian economy. 
  
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• Ola Electric opens 3,200 stores amid year of consumer complaint woes

  25-12-2024 14:54 via timesofindia.indiatimes.com
  
  Ola Electric Mobility Ltd. opened 3,200 new stores in a single day, expanding its footprint to 4,000 showrooms and service centers across India. This move seeks to address customer service issues and regain market share amidst intense competition and regulatory scrutiny. The expansion prepares for upcoming vehicle launches.
  
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• Govt Aims To Cut Fiscal Deficit To 4.5% Of GDP In 2025-26

  25-12-2024 14:48 via zeenews.india.com
  
  Taking into account the grant for the creation of capital assets, the effective capital expenditure was projected at Rs 15.02 lakh crore.
  
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• India’s Domestic Air Traffic Posts Double-Digit Growth In November

  25-12-2024 13:15 via zeenews.india.com
  
  However, the On Time Performance (OTP) of scheduled domestic airlines at Bengaluru, Delhi, Hyderabad, and Mumbai declined during November with passengers facing longer delays. 
  
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• EPFO Adds 13.41 Lakh Net Members As Employment Rises

  25-12-2024 12:54 via zeenews.india.com
  
  The EPFO enrolled around 7.50 lakh new members in October out of which a significant 58.49 per cent were in the young 18-25 age group. 
  
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• India Now Has 1,57,066 Recognised Startups, 73,000 With At least 1 Woman Director: Centre

  25-12-2024 12:01 via zeenews.india.com
  
  According to the ‘Indian Startup Ecosystem Report’ by Startup India, India’s startups have leveraged emerging technologies such as artificial intelligence (AI), blockchain, and IoT to solve local and global problems. 
  
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• Will Popcorn Prices Rise In Theaters? Here’s How Much Tax Your Movie-Time Snack Will Attract

  25-12-2024 09:31 via zeenews.india.com
  
  If popcorn is bundled with a movie ticket then it will be considered a composite supply.
  
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• Indian Markets To Deliver Positive Returns For 9th Year In A Row, Outperform US

  25-12-2024 07:02 via zeenews.india.com
  
  Another report by Motilal Oswal said that Indian equities have outperformed US markets over the past 35 years, as investments in the Indian equity markets growing by nearly 95 times since 1990. 
  
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• US President-Elect Donald Trump's Policies Could Pose Challenge To Timing Of RBI's Rate Cut: Report

  25-12-2024 05:25 via zeenews.india.com
  
  Despite these challenges, the RBI is expected to initiate a rate-cutting cycle in 2025, potentially reducing rates by 50-75 basis points as inflation moves closer to its medium-term target of 4 per cent.  
  
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• Stock market holiday today: Why are BSE Sensex, Nifty50 closed for trading on December 25, 2024?

  25-12-2024 03:30 via timesofindia.indiatimes.com
  
  Stock market holiday today: The stock markets will remain closed on December 25 for Christmas. On Tuesday, investors showed caution leading to minor declines in BSE Sensex and Nifty50 amidst foreign fund outflows.
  
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• Wall Street rises as ‘Santa Claus Rally’ begins

  25-12-2024 03:13 via timesofindia.indiatimes.com
  
  A rally in tech stocks powered Wall Street gains in a quiet pre-Christmas session. Tesla led the megacaps, with Broadcom and AMD rising as Biden's team probed Chinese chips. Investors hope for the 'Santa Claus Rally' to boost year-end stocks further. The S&P 500 climbed 1.1%, Nasdaq 100 up 1.4%, and Dow Jones increased 0.9%.
  
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• Revival of 7-8% growth in focus at pre-Budget meet

  24-12-2024 22:29 via timesofindia.indiatimes.com
  
  At a pre-Budget meeting, PM Modi stressed the need for 7-8% growth to achieve developed nation status by 2047, considering global challenges and geopolitical tensions. Economists provided suggestions on boosting employment, farm productivity, exports, and the value chain, while addressing climate change and energy transition.
  
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• Auto industry rides on partnerships, joint ventures

  24-12-2024 22:26 via timesofindia.indiatimes.com
  
  Nissan and Honda are exploring a potential collaboration to enhance competitiveness. Indian and global automakers and two-wheeler manufacturers are increasingly forming alliances to improve efficiencies, reduce costs, and gain access to advanced technologies.
  
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• GST of 18% to be levied on sale margin of a car

  24-12-2024 22:19 via timesofindia.indiatimes.com
  
  The GST on the margin of sale for used vehicles, including electric ones, has been revised to 18%. GST is payable only on the margin between purchase price and sale price. For depreciated vehicles, GST applies only if the sale price exceeds the depreciated value. Negative margins incur no GST liability.
  
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• Small businesses add over 1cr jobs, units up 13%, shows survey

  24-12-2024 22:12 via timesofindia.indiatimes.com
  
  Small businesses in India's manufacturing, trade, and services sectors employed over 12 crore workers between October 2023 and September 2024, adding more than one crore employees since 2022-23, according to the Annual Survey of Unincorporated Sector Enterprises. The number of establishments grew by 12.8%, with significant contributions from the services sector. Female-owned enterprises and internet usage also saw notable increases.
  
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• Rupee hits record low for 6th day, ends at 85.2/$

  24-12-2024 22:03 via timesofindia.indiatimes.com
  
  The rupee dropped to an all-time low of 85.21 against the US dollar for the sixth consecutive session due to rising US bond yields and strong demand for the dollar from importers. The RBI intervened to limit losses, but underlying issues such as tepid capital flows and a widening trade deficit persist.
  
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• Exporters, govt in talks to tap opportunities in US

  24-12-2024 21:59 via timesofindia.indiatimes.com
  
  Exporters in India are preparing to seize potential opportunities in the US market across sectors like textiles, leather, chemicals, and toys, as the US looks to reduce dependence on China. Enhanced promotion, financial support, and partnerships with American trade bodies are seen as pivotal for success.
  
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• Insurance as share of GDP shrinks to 3.7%

  24-12-2024 21:56 via timesofindia.indiatimes.com
  
  India's insurance penetration fell to 3.7% in FY24 after peaking at 4.2% during Covid, with life insurance penetration dropping to 2.8%. Despite this, per capita premium increased modestly. The life insurance industry's slower growth and increased benefits payouts contrasted with non-life insurance's 12.8% premium growth.
  
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• India Cements becomes subsidiary of UltraTech

  24-12-2024 18:53 via timesofindia.indiatimes.com
  
  UltraTech Cement has acquired a 55.5% stake in India Cements, making it a subsidiary. The acquisition adds 14.5 million tonnes of production capacity to UltraTech's portfolio. The deal, totaling Rs 3,954 crore, received approval from the Competition Commission of India, amidst India Cements' recent financial challenges.
  
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• Razorpay gives Esops of Rs 1 lakh each to all employees

  24-12-2024 16:39 via timesofindia.indiatimes.com
  
  Razorpay has extended Rs 1 lakh worth of ESOPs to each of its 3,000+ employees for the first time, reflecting its commitment to an employee-first ethos. Previously, Razorpay’s ESOP buybacks have benefited numerous employees, with the latest $75 million buyback in 2022 impacting 650 employees.
  
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• Share Market Holiday: Is Stock Market Closed For Trading On Christmas Day 2024? Check Full Holiday List For 2025

  24-12-2024 14:28 via zeenews.india.com
  
  Stock Market Holiday: The first holiday was on January 26 for Republic Day in 2024, while the Christmas holiday marks the final stock market holiday of the year. 
  
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• 163 Workers Rescued From "Slave" Like Conditions From Chinese EV Company BYD

  24-12-2024 14:07 via zeenews.india.com
  
  BYD: Brazilian authorities have rescued 163 workers from conditions similar to "slavery" at a construction site for a factory of Chinese electric vehicle company Build Your Dreams (BYD) in Camacari, Bahia.
  
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• Nissan-Honda Integration Could Boost Credit For Nissan, Compared To Honda: Moody's

  24-12-2024 13:47 via zeenews.india.com
  
  The report noted that Nissan will benefit the most from a credit perspective, while Honda faces more risk due to its stronger credit profile.
  
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• From Maruti, Tata To Mahindra... Check Out 2025's Most Anticipated 7-Seater SUVs

  24-12-2024 12:54 via zeenews.india.com
  
  Upcoming 7-Seater SUVs: The Indian automobile market is set to witness several new SUVs in 2025. Major players like Maruti, Hyundai, Mahindra, Kia, and Skoda are gearing up to launch new models.
  
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• Indian Startup Ecosystem Raises Over Rs 29,200 Crore In 2024, Witnesses Record 13 IPOs

  24-12-2024 12:29 via zeenews.india.com
  
  The largest IPO among startup companies was offered by online food delivery platform Swiggy at Rs 11,327.43 crore.  
  
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• Indian Share Market Ends Flat Ahead Of Christmas, Sensex Settles At 78,472

  24-12-2024 12:12 via zeenews.india.com
  
  According to market experts, the domestic market concluded flat ahead of the holiday, with metal and power stocks dragging performance while FMCG and auto sectors gained from recent corrections. 
  
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• Indian Markets Outperformed With Positive Returns For 9th Consecutive Year In 2024

  24-12-2024 11:08 via zeenews.india.com
  
  Despite these challenges, the Nifty 50 index has gained 9.21 per cent so far this year, while the Sensex index has risen by 8.62 per cent, showcasing the resilience of Indian markets.  
  
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• Domestic Air Passenger Traffic In India To Clock 6.1 Per Cent Growth At 144.9 Lakh In Nov

  24-12-2024 10:36 via zeenews.india.com
  
  For the eight months this fiscal (April-November), domestic air passenger traffic was 1074.9 lakh, with a YoY growth of 6.7 per cent and 12.3 per cent higher than the pre-Covid level of 957 lakh in the first eight months in FY2020. 
  
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• Dehradun: District Administration Orders To Maintain Law & Order Ahead Of New Year

  24-12-2024 10:01 via zeenews.india.com
  
  Dehradun: The Dehradun district administration has ordered the authorities to maintain law and order and ensure smooth traffic management in Mussoorie during the tourist surge for Christmas, New Year and winter vacations, according to a release.
  
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