India Inc Chiefs across consumer categories, such as daily household goods, apparel and lifestyle products and electronics have flagged inflation as the biggest concern for the upcoming fiscal, more crucial than the spurring demand. Rightfully so. The budget announcements increased the minimum support price (MSP) allocation to farmers, while helping improve rural demand, is expected to increase inflationary pressure because it would lead to higher cost of procurement of farm products
RBI may hike Reverse Repo ratio by 0.25% in next week’s policy
The Reserve Bank of India (RBI) may raise the reverse repo rate by about 15-40 basis points while penciling measures to support the Union Budget that pump primed growth with larger capex and record market borrowings.
The grand slam comeback Budget – a closer look at Budget 2022
This year’s budget speech by the finance minister was thankfully shorter than usual and was sharp and to the point. Coming out from two years of the pandemic, the agenda was clear and the FM did not disappoint. The theme centered around large scale capital investment for macro growth , a big push to the digital economy and technology-enabled development and energy transition.
Indians put brakes on Grocery Spending as prices rose in 2021- Study
Daily groceries and essentials consumers bought last calendar year remained stagnant in India and fell during the quarter ended December, signaling consistent price hikes forcing people to cut back on household spending. The quantity of goods bought, or volumes, went up just 0.1% in 2021, according to global consumer research firm Kantar Worldpanel (formerly IMRB).
LICs Embedded Value set at over Rs.5 lakh Crore – making it world’s 10th most valued insurance company
State-run Life Insurance Corporation of India’s (LIC) embedded value has been finalized at more than ₹ 5 lakh crore ($66.82 billion), a government official who is overseeing what is expected to be the country’s largest IPO said on Thursday. Investors are eagerly waiting for the government to indicate LIC’s embedded value – a measure of future cash flows in life insurance companies and the key financial gauge for insurers – when it releases the initial public offering (IPO) draft prospectus, expected in a matter of days.
Budget 2022 – High impetus on Digital to pave way for Tech-Enabled Healthcare System
The Union Budget 2022-23 identifies ‘focus on growth and all-inclusive welfare’ as the first of top three goals of Amrit Kaal. In current times, growth and inclusivity have become synonymous with the resilience of healthcare infrastructure of a country.
A year ago, around budget 2021, the Sensex was at 50,000 levels. Then, I had said, ‘expect Sensex to hit 200,000 in 10 years’ time!’ The number may seem huge, but the math is quite simple. On nominal GDP growth of 12-13%, corporate profit should grow around 15%. Since the stock market is a slave of earnings, it should track corporate profit growth – i.e., 15% returns. Now, 15% growth over 10 years is four times. Thus, the Sensex should grow from 50,000 to 200,000 (50,000×4)!
Digital Rupee will be legal tender, can be used to purchase non-digital assets
Addressing criticism of the RBI being “behind the curve” by continuing with the accommodative monetary policy stance longer than Finance Secretary TV Somanathan on February 02 informed that digital rupee will be legal tender and can be used to purchase non-digital assets. Adding on it, he further said cryptocurrencies like Bitcoin or Ethereum will never become a legal tender. Speaking to ANI, Finance Secretary said, “Digital rupee will be backed by RBI which will never default. Money will be of RBI but the nature will be digital. The digital rupee issued by RBI will be the legal tender. We can purchase non-digital assets with the digital rupee like we purchase an ice cream or other things using our wallet or payments through UPI platform.”
I didn’t want to wait any longer – Meet three entrepreneurs who quit during the “Great Resignation” to start their own business !!
The “Great Resignation” has workers leaving their jobs in droves. Yet they aren’t all looking for a new company to work for — many have opted to go into business for themselves. In fact, there was a surge in new business formation last year, with applications hitting a record 5.4 million, according to the Census Bureau. Chelsea Kidd, 34, was one of those who walked away to strike out on her own. It was something she had prepared for while she was still working, developing her plans with SCORE, a program that offers mentoring and educational sessions for entrepreneurs.
Finance minister Nirmala Sitharaman presented the Union Budget 2022 on Tuesday, which has been hailed as growth oriented and panned for not giving relief to the salaried or middle-class.
