FISCAL CONSOLIDATION
S&P Global revises Bharti Airtel outlook to 'positive'
S&P Global revises outlook on Bharti Airtel to positive. The agency expects Airtel's earnings and cash flows to increase. The positive outlook reflects a potential improvement in Airtel's credit profile. S&P Global estimates Airtel's Ebitda from India operations will rise. Airtel's rising earnings and cash flows will help it deleverage.
Robust increase in ARPU of private telecom operators (QoQ) led by recent tariff hike
Indian telecom companies see revenue increase. Tariff hikes benefit companies like Airtel, Jio, and VIL. Subscriber numbers drop as customers adjust to new prices. BSNL, a government-owned operator, gains subscribers. Industry experts predict stabilization in the telecom sector.
Trump, rupee and economic growth: What's in store for India in 2025?
DBS Bank predicts India's economic growth will moderate to 6% in 2025 and 2026, influenced by factors like a potential Trump return and domestic challenges. Despite this, India's long-term outlook remains positive, with expectations of becoming the world's third-largest economy, fueled by infrastructure investments and a stable macroeconomic environment.
Fortis Healthcare Q2 Results: Net profit rises 5% YoY to Rs 193 crore
Fortis Healthcare on Friday said its consolidated net profit increased by 5 per cent year on year to Rs 193 crore for the second quarter ended September 30, 2024, aided by strong performance by the hospital segment.
LTIMindtree won its largest deal in history due to AI approach: COO
In the second quarter ending September of the ongoing fiscal year 2025, LTIMindtree closed several multi-year projects including a $200 million-plus deal from a US-based manufacturer. The total order intake for the three-month period was flat year-on-year at $1.3 billion, down 7% from previous quarter.
IMF says global public debt to top $100 trillion, growth may accelerate
Global public debt is forecasted to exceed $100 trillion, with the IMF warning it may grow faster due to increased spending. U.S. tax cut plans and campaign promises ahead of the presidential election could add trillions to deficits. The IMF urges fiscal consolidation, but current efforts are deemed insufficient to stabilize debts.
Open to exploring more ways to increase India's collaboration with IMF: Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman discussed enhancing India's collaboration with the IMF in a meeting with Gita Gopinath, Deputy Managing Director of IMF. Gopinath praised India's fiscal policies and the strength of its economy. Sitharaman emphasized the value of their relationship and openness to more cooperative initiatives, benefiting both India and the global community.
Budget aimed at boosting investments, creating jobs, says Finance Minister Sitharaman
Finance Minister Nirmala Sitharaman announced that the FY25 budget focused on promoting investments and job creation, balancing growth and fiscal consolidation. She highlighted increased allocations in social sectors, dismissed concerns about stagnant consumption and falling household savings, and defended measures taken to ease the tax burden on the middle class.
Finance Minister Nirmala Sitharaman to address RBI board on August 10
Finance Minister Nirmala Sitharaman would be accompanied by Minister of State for Finance Pankaj Chaudhary and Finance Secretary and Secretary, Department of Expenditure TV Somanathan.
Budget aims to push mfg, boost India's share in global growth: FM Nirmala Sitharaman
Replying to the discussion on Union Budget 2024-25 and Union Territory of J&K in Rajya Sabha, Sitharaman said the government is well on track to achieve the fiscal deficit target of 4.5% of GDP by 2025-26. "The government has always maintained fiscal prudence as one of the important governance principles... From 2026-27 onwards we will adhere to a path to ensure that the central government debt as a percentage of GDP is at a declining trend," she said.
India's macro aspirations: Fiscal discipline will continue with thrust on reducing debt
Finance Minister Nirmala Sitharaman reaffirmed the central government's strategy to reduce the fiscal deficit to 4.5% of GDP by FY26 through fiscal consolidation. Following a pandemic-induced debt surge to 89% of GDP in FY21, it has now decreased to 81%. Starting from 2026-27, the focus will shift to reducing the debt-to-GDP ratio annually. Finance Secretary TV Somanathan highlighted the importance of managing public debt. Madan Sabnavis from Bank of Baroda emphasized state compliance with FRBM norms, while NR Bhanumurthy suggested a clear roadmap by the 16th Finance Commission. Collaboration with the Reserve Bank of India and addressing fiscal challenges as outlined by economists remain essential.
How FM Sitharaman can design India's long-term investment growth portfolio for a Viksit Bharat
The upcoming Union Budget must prioritize long-term growth strategies, addressing structural issues for India to emerge as a developed economy by 2047. Focus areas include rural health enhancement, sustained infrastructure investment, job creation across sectors, human capital development, fiscal discipline, and nurturing sunrise industries like renewable energy and AI, ensuring inclusive growth.
Economists seek lower import tariffs at pre-budget meeting with PM Modi
In a pre-budget meeting in New Delhi, Prime Minister Narendra Modi met with economists who recommended reducing import tariffs on intermediate goods, lowering interest rates, signing more free trade deals, and cutting logistics costs to boost exports. They advocated for agricultural support for farmer producer organizations (FPOs) and emphasized capital expenditure for growth, cautioning about rural inflation.
Budget 2024: Morgan Stanley expects Nirmala Sitharaman to focus on road map for 'Viksit Bharat'
Global brokerage firm Morgan Stanley expects Finance Minister Nirmala Sitharaman's upcoming Budget to focus on the government's road map for 'Viksit Bharat' by 2047, and outline a medium-term plan for fiscal consolidation. The anticipated emphasis is on capital expenditure, targeted social sector spending, and improving access to physical, social, and digital infrastructure.
Lok Sabha results won't force India's budget to make significant policy shifts: Fitch
Fitch Ratings anticipates minimal policy shifts in India post-election losses. The upcoming July budget will detail economic reform plans and fiscal goals for the next five years, crucial for addressing fiscal metrics, reducing debt, potential deviations from capital expenditure commitments, the risk of heightened social spending, progress in judicial reforms at the state level, and reforms in the manufacturing sector.
Coalition politics, weakened mandate could make passing legislations on ambitious reforms challenging: Fitch
Fitch Ratings predicts that the new government in India, led by Narendra Modi, will face challenges in passing legislation on ambitious reforms due to coalition politics and a weakened mandate. Major reforms to land and labour laws will remain on the agenda, but these have been contentious and the NDA's weaker mandate could complicate their passage further. The BJP fell short of a single-party majority in the 543-seat lower house of parliament for the first time since its latest period in government in 2014.
Lok Sabha Results: Will a fractured mandate for NDA impede new govt's infra and capex push?
The 2024 Lok Sabha elections deliver a fractured mandate, influencing economic reform outlook. Experts recommend focusing on public capex and high-tech sectors for growth. Tanvee Gupta Jain predicts fiscal leeway for populist spending, supported by progress in implementing labor laws.
Modi 3.0 has heavy lifting to do on tax reforms to managing stock risks
Economists outline key priorities for India's incoming government, emphasizing the need for growth, job creation, and macro stability. Pronab Sen highlights the importance of sustainable livelihoods, while Pranjul Bhandari suggests that 'easy' reforms could maintain 6.5% growth. However, achieving 70 million jobs requires politically sensitive reforms in agriculture, labor, and land. Additional recommendations include infrastructure investment, judicial reforms, enhancing export competitiveness, and further tax reforms, particularly bringing petroleum and power under GST.
Expect broad policy continuity with focus on capex: Ratings agencies
Economists emphasize the new Indian government's need to focus on growth, job creation, fiscal stability, tax reforms, and risk management. Reforms in land, labor, and capital markets are crucial, along with fiscal consolidation and increased government spending to attract private investments. They suggest balancing pro-consumer policies in agriculture and tackling judicial delays. These efforts aim to sustainably boost job creation and income levels, with the potential to raise India's economic growth to 7.5-8% over the medium-to-long term.
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