FM Sitharaman’s 4-wheel car to drive India’s economic growth: Skills, jobs for youth important; check other 3
Skill building and job creation for the youth, be it in STEM, technology and innovation, or even in non-technical fields, are among the important factors that could help drive India’s economic growth ahead, Finance Minister Nirmala Sitharaman said today in conversation with industrialist Sunil Kant Munjal. “Engaging youth power by generating opportunities according to their skills be it innovative, STEM sciences, technological or even non technical, will be a key focus area for the government to ensure workforce participation is at its maximum,” Sitharaman said. Further, while Indian companies will have to become global leaders across sectors, MSMEs would get more government support.
Sensex, Nifty end at 5-month high, Nifty support at 18000, what do the charts say? Investors eye US inflation data
BSE Sensex and?NSE Nifty 50 ?rose nearly one per cent to settle at five-month high on Tuesday. BSE Sensex jumped 456 points or 0.8 per cent to end at 60571, while NSE Nifty 50 ended at 18070. Stocks of index heavyweights such as HDFC Bank, Reliance Industries, Housing Development Finance Corporation (HDFC),?Bajaj Finserv , and?Bharti Airtel , among others contributed the most to the indices’ gain. Broader markets underperformed equity frontliners. S&P BSE MidCap gained 0.3 per cent or 87 points to settle at 26,252, while S&P BSE SmallCap index rose 0.24 per cent or 70 points to finish trade at 29, 894. India VIX, the volatility index, fell 2.6 percent to settle at 2.6 per cent.
Top financial lessons you can learn from the pandemic
Ever since the Coronavirus-led pandemic gripped the world in early 2020, the world’s financial markets have had quite a tough time. The Indian equity market, in particular, has had a topsy-turvy journey over the last two years with deep corrections and volatility. The key market indices hit a 7-year low just at the onset of the pandemic in April 2020, eroding nearly 35% of the investors’ value in a few weeks.
Such a strong value erosion, steepest in recent years, made market experts uncertain about the coming back of the growth trajectory. There was a widespread belief that the market would take at least 3-4 years to come back to the levels it fell from. However, proving everybody wrong, the markets climbed nearly 2.5 times as the recovery was too sharp and unexpected.
What’s crippling share market? SEBI boss calls out markets’ polio, smallpox; no view on IPO pricing
SEBI chairperson Madhabi Puri Buch termed insider trading, front running, and information asymmetry as Indian equity market’s smallpox and polio. She assured that SEBI’s every single policy is back-tested by data. “There is not a single piece of paper now that moves within?SEBI ?that is not backed by data,” Buch said at an event on Tuesday, 13 September. She added that the capital market regulator was trying to keep pace with the evolution of the market. SEBI holds no view on the IPOs pricing, and companies are free to price their issue, which they feel is appropriate for them, Buch iterated. She added that there is a need to manifest the spirit of partnership between SEBI and corporates.
PPF interest rate may see an increase amidst rising g-sec yield – Here’s why
The public provident fund (PPF) interest rate may see an upward revision soon. Currently, the PPF interest rate is 7.1 per cent while the G-sec yield has already crossed 7 per cent. In January 2022, the yield was at 6.5 per cent and had crossed 7.6 per cent in June. For the last nine quarters till September 2022, the interest rates on various small savings investments have been left unchanged.
With the upward movement in G-Sec yields, the spread between the existing interest rates on various small savings investments and the formula-based rates is now negative for most small saving schemes.
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Inflation, slowing global growth to weigh on India’s IIP; recovery in domestic demand to be positive trigger
India’s IIP growth slowed further in July to 2.4%, lowest in four months, as the favourable base effect has waned. The low Index of Industrial Production (IIP) data came as double whammy for the economy as retail inflation in the month of August reversed downtrend to rise to 7% again. “Low IIP could be a function of the base effect. The contraction of the non-durable goods index indicates that rural households are under stress and demand is getting impacted,” said Rumki Majumdar, Economist, Deloitte India. As global growth weakens amid uncertainty due to high inflation and volatile commodity prices, the recovery in domestic demand will remain the key driver of industrial output going forward, according to economists.
‘Kohinoor belongs to Lord Jagannath’, Odisha body seeks its return from UK
Shree Jagannath Sena, a Puri-based outfit has claimed that the Kohinoor diamond, which now rests in the Queen’s crown, belonged to Lord Jagannath. The organisation sought intervention of India President Droupadi Murmu for its return to the historic Puri Jagannath temple from the United Kingdom. Queen Elizabeth II passed away on 8th?September 2022 following which her son Prince Charles has become the King. As per media reports, norm is that the 105-carat famed diamond will now go to his wife the Duchess of Cornwall Camilla, who is the Queen consort.
The Odisha-based organisation submitted a memorandum to President Murmu, seeking her intervention to facilitate the process of bringing back the Kohinoor diamond to the 12th-century shrine.
Exclusive: List of automakers participating in Auto Expo 2023
Auto Expo is India’s largest biennial automobile exhibition. It was last held in February 2020 just before the outbreak of the Covid-19 pandemic in the country. While the 16th edition of the?Auto Expo ?was originally scheduled for February this year, it got postponed and will now be held from January 13-18, 2023, at India Expo Mart in Greater Noida (Uttar Pradesh). Here’s an exclusive list of all the automakers that are confirmed to participate in the Auto Expo 2023.?
Top 10 best-selling SUVs and MUVs in August 2022
The sales of Utility Vehicles (UVs) that consist of SUVs and MUVs continued to post positive YoY growth in August 2022, with the Maruti Suzuki Brezza leading the charts with 15,193 units sold last month. The Brezza was followed by the Tata Nexon which lead the charts for a few months, settling for second, with sales accounting for 15,085 units.