The government expects 17 per cent higher dividend at Rs 48,000 crore from the Reserve Bank of India (RBI), public sector banks and financial institutions in 2023-24. In current financial year ending March, it aims to garner Rs 40,953 crore from RBI and public sector financial institutions. This is much lower compared to Budget Estimate [...]
The government has raised non-tax revenue collection estimate from the telecom sector by 30 per cent to Rs 89,469.17 crore in 2023-24, according to the Union budget document. The government has revised the revenue estimate to Rs 68,784 crore for the current fiscal from earlier projection of Rs 52,806 crore in the previous budget. The [...]
Finance Minister Nirmala Sitharaman on Wednesday announced hiking the capital expenditure by 33 per cent to Rs 10 lakh crore for infrastructure development for 2023-24 and will be at 3.3 per cent of the GDP. Presenting the Budget for 2023-24, she said the newly established infrastructure finance secretariat will assist in attracting more private investment. [...]
Tata Motors on Wednesday reported a 6.4 per cent growth in total vehicle sales at 81,069 units in January. In the year-ago period, the company's total vehicle sales stood at 76,210 units. Domestic vehicle sales were up 10 per cent at 79,681 units in the previous month over 72,485 units in 2022, Tata Motors said [...]
Auto major Mahindra & Mahindra (M&M) Ltd on Wednesday posted a 37 per cent growth in total vehicle sales at 64,335 units in January. It had registered a total sales of 46,808 units in January 2022. The total passenger vehicles sale was up 65 per cent at 33,040 units compared to 19,646 units sold in [...]
The shares of Apar Industries Limited opened at Rs 1,770 levels and zoomed by 13 percent to reach a new 52-week high of Rs 1,999.90 in the early hours of the Budget day. In the past three sessions, the stock has gained more than 35 percent. In Q3FY23, the company reported consolidated total revenue from [...]
Hotel stocks rallied on Wednesday after the honourable Finance Minister Nirmala Sitharaman announced various initiatives to boost the tourism industry in India. As of 15:00 hours IST, the Tata-owned Indian Hotels Company was up 7.81% to Rs 324.50. Similarly, EIH Ltd. and Lemon Tree Hotels were trading higher with 7.45% and 5.75% intra-day gains respectively. [...]
The capital outlay for the railways has been increased to the highest-ever Rs 2.40 lakh crore in the Union Budget for 2023-24, Finance Minister Nirmala Sitharaman said on Wednesday. Presenting the budget in Lok Sabha, Sitharaman said the outlay for the railways is nine times the amount provided in 2013-2014. She said 100 critical transport [...]
The IMF has expressed concern that Pakistan's opposition parties might create hurdles in the way of implementing the tough economic decisions of the cash-strapped Shehbaz Sharif-led government, media reports said on Wednesday. The views of the global lender came as a high-level delegation led by the International Monetary Fund (IMF) Mission Chief Nathan Porter on [...]
The government on Wednesday said 50 additional airports, heliports, water aerodromes and advance landing grounds will be revived for improving regional air connectivity in the country. The announcement was made by finance minister Nirmala Sitharaman while presenting the Union Budget for 2023-24. Over the past few years, the government has been taking various initiatives, especially [...]
