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The Economic Times FM maintains India's FY25 capex outlay at Rs 11.11 lakh crore

The government plans to allocate 3.4 percent of the Union Budget to capex, an increase from 3.2 percent the previous year.

The Economic Times Union Budget 2024: FM Nirmala Sitharaman's Budget Highlights that Matter for India Inc

Here are the major developments from Union Budget 2024 that matter the most for India Inc and the CFO community. Finance Minister Nirmala Sitharaman presents her seventh union budget.

The Economic Times GST played remarkable role in reducing logistics cost: Economic Survey

"This has reduced the logistics cost and increased the average distance trucks travel from 225 km before GST to 300-325 km," the Economic Survey 2023-24 tabled in Parliament said.

The Economic Times Economic Survey: Indian economy on a strong wicket and stable footing in face of geopolitical uncertainties

Economic Survey 2024: On Monday, Finance Minister Nirmala Sitharaman tabled the Economic Survey 2023-24 in Parliament, highlighting that the Indian economy has demonstrated resilience and stability despite geopolitical challenges.

The Economic Times Budget 2024: These sectors could be the potential winners and losers of Modi 3.0 budget

Budget expectations: India's Finance Minister, Nirmala Sitharaman, is set to present the country's FY25 budget on July 23, marking the first of Modi 3.0's first budgets. The budget is expected to focus on rural schemes to boost consumption, benefiting companies like Hindustan Unilever, TVS Motor, and Hero MotoCorp. A less than 5-7 per cent increase in tobacco taxes could be beneficial for ITC, while production-linked incentive schemes could benefit Dixon Technologies, Ideaforge Technology, and Biocon.

The Economic Times RBI approves appointment of former Kotak exec KV Subramanian as CEO & MD of Federal Bank

The Reserve Bank of India has approved Krishnan Venkat Subramanian as Managing Director & Chief Executive Officer of Federal Bank. Subramanian, who previously served as the Joint Managing Director of Kotak Mahindra Bank Limited, will start his three-year term on September 23, 2024.

The Economic Times HCLTech CEO Vijayakumar salary climbed to over $10 million

This makes Vijaykumar the second highest paid CEO of an Indian IT company after Wipro’s former chief Thierry Delaporte’s $20 million (around Rs 166 crore) compensation for FY24. In FY24, HCLTech led revenue growth for the industry at Rs 109,913 crore, up 8.3% year-on-year, and net profit at Rs 15,702 crore, up 5.7% year-on-year.

The Economic Times Expansion plans: Tata Electronics resets configuration for Rs 6,000 crore charge

The only Indian manufacturer of Apple's iPhones did not attribute any reason behind the fundraising. The filings show it had secured loans of Rs 6,311 crore as of March 2024.

The Economic Times Budget for world's fastest-growing economy: Key numbers to be watched

Finance Minister Nirmala Sitharaman is set to present her 7th consecutive Budget, aiming to lay a roadmap for Viksit Bharat (developed India) by 2047. The budget is expected to provide better-than-earlier projections due to tax buoyancy. The government's planned capital expenditure is at Rs 11.1 lakh crore, higher than Rs 9.5 lakh crore in the last fiscal year.

The Economic Times India to remain fastest growing major economy in 2024-25, says CEA Nageswaran

India is poised to remain the fastest-growing major economy in 2024-25, Chief Economic Adviser V Anantha Nageswaran said in a press conference after the tabling of the Economic Survey in the Parliament on Monday.

The Economic Times CEA on Economic Survey 2024: Reforms at state, district levels need of the hour

India's growth remains resilient despite global uncertainties. Economic Survey 2024 highlights key areas for focus such as private capital, green growth, MSME support, agriculture potential, education focus, and state machinery revitalization.

The Economic Times Finance Minister to present Budget today, CFOs call for strong compliance reforms, capital gains tax relief, and capex push

In the first full budget of the third term of the Narendra Modi government, the Prime Minister asserted that this budget will lay the foundation of 'Viksit Bharat'.

The Economic Times Economic Survey 2024: India in midst of private capex upcycle, boosted by public investment

Capex has lifted the productive potential of the economy; time for the private sector to take the baton, says the Economic Survey 2024. India's private capex surged by 19.8% in FY23, with the share of private non-financial corporations in GFCF rising to 34.9%. Corporate bond issuances increased by 70.5% in FY24, driven by robust government capital expenditure of Rs 9.5 lakh crore, marking a 28.2% year-on-year growth.

The Economic Times India's fiscal deficit to drop to 4.5% or lower by fiscal 2026: Economic Survey

India's fiscal deficit is set to decrease to 4.5% of GDP or lower by fiscal 2026, per the Economic Survey 2023-2024. Finance Minister Nirmala Sitharaman aims for a deficit below 4.5% by 2025-26, with expectations to further reduce it during the upcoming budget presentation on July 23. The survey highlights improved tax collection and higher non-tax revenue aiding deficit reduction.

The Economic Times Economic Survey 2024: India's retail inflation lower than EMDEs and world average

“Compared to advanced economies like the USA, Germany, and France, India had one of the lowest deviations from its inflation target in the triennial average inflation from 2021-2023. Despite the challenges posed by global demand-supply imbalances due to ongoing geopolitical tensions, India’s inflation rate was 1.4 percentage points below the global average in 2023,” as stated in the Economic Survey 2024. Read here to understand how the government further plans to curb price flare-ups.