Delayed spending by states may help govt save Rs 30,000 cr this FY
The Centre anticipates saving ₹30,000 crore in centrally sponsored schemes this fiscal year due to delayed state spending and improved monitoring. These savings may be allocated to other expenditures. Key flagship schemes under scrutiny include Ayushman Bharat and MGNREGS. Efforts to rationalise scheme numbers and funding shares between the Centre and states are ongoing.
Centre wants banks to push pedal on special Vostro accounts mechanism
The Indian government asks banks to identify and overcome hurdles in implementing international trade settlements in Indian rupees through special rupee vostro accounts (SRVA). A crucial meeting is scheduled to address these challenges and boost rupee trade with surplus trade countries amid global financial shifts and sanctions concerns.
Poor start to PM Internship scheme: Candidates back out after receiving offers
The PM Internship scheme pilot faced many candidate withdrawals initially, with reasons like parent pressure. Acceptance rates have improved since. The corporate affairs ministry aims to address these issues as the scheme expands. Over 620,000 applied, targeting 125,000 interns. Major companies including Reliance and Tata Consultancy participated. Formal launch is expected soon.
Public investments in infra surpass pre-Covid level: Finmin
Public investments in infrastructure have surpassed pre-pandemic levels, hitting 5.87% of GDP in 2023-24. The investments surged to Rs 17.35 lakh crore in 2023-24. The Central government has significantly increased its capital investments, aiming to stimulate the Covid-hit economy. Efforts include long-term, interest-free loans to states and measures to attract private sector participation.
Swiggy Q2 Results: Cons loss narrows YoY to Rs 625 crore, revenue jumps 30%
Swiggy Q2 Results: Swiggy’s food delivery business nearly doubled profitability, with adjusted EBITDA at Rs 112 crore, a 1.6% margin, and GOV growing 5.6% QoQ to Rs 7,191 crore. The company’s new 10-minute delivery service, ‘Bolt,’ now contributes 5% of total food deliveries within just 8 weeks. Swiggy Instamart saw strong performance, with GOV growth […]
Should you start preferring Swiggy over Zomato now? Deepak Shenoy answers
Deepak Shenoy highlights Swiggy’s potential as an investment, suggesting giving it two quarters post-IPO for better evaluation. He notes Swiggy’s initial challenges, like stock option-based compensation, but believes its rising performance and Instamart’s growth make it worth watching. Additionally, Shenoy mentions cautious optimism for cement stocks and LIC’s improving market share and premium growth.
Long voyage time impacted trade, no container shortage: Govt to Parliament
Global trade, including Indian exports, is impacted by extended voyage times and conflicts in key regions. Despite no reported container shortages, India’s limited container manufacturing capacity is noted. Measures to reverse startup flipping and PLI schemes have shown substantial economic growth and export contributions.
Sebi cancels Trafiksol SME IPO, asks company to refund investors’ money
Market regulator Securities and Exchange Board of India (Sebi) on Monday cancelled the SME IPO of Trafiksol ITS Technologies, which was earlier put on hold by BSE pending investigation, and asked the company to refund the money to the investors.
Sebi tackles tech glitches with new online monitoring mechanism for system audits of brokers
The paper addresses the growing complexities of trading systems and the rising risks of technological glitches. The proposals aim to enhance audit practices, fostering a stronger regulatory framework. Public comments are invited until December 26.
11 stocks with consistent sales and profit growth turned multibaggers in FY25
In volatile market conditions, 11 fundamentally strong stocks have shown impressive double-digit sales and profit growth, with significant price surges, doubling investors’ wealth in FY25. Stocks include PG Electroplast, Balu Forge, and others.