Business Standard - January 02, 2025

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January 02, 2025

New Projects Down Over 20% in Dec Quarter

Value of finished projects also slips

2 mins

Vehicle retail sales hit record 26.1 mn in '24, but '25 outlook muted

Vehicle retail sales in India grew by 9 per cent in 2024, reaching a record of nearly 26.1 million units and surpassing the pre-Covid peak of 25.4 million units set in 2018, thus, in the process, finally marking a full recovery from the pandemic-induced slowdown.

2 mins

Joining India with Bharat: An ongoing digital journey

The turn of the century gave a push to convergence, with telecom at its core. A tech-driven future could speed up the connectivity revolution in its true sense

5 mins

Net GST mop-up sees 3.3% uptick at ₹1.54 trn in Dec

Refunds surge; gross collection up 7.3% to ₹1.76 trn

2 mins

Under pressure, ₹ seen trading around 86 vs $ by March end

The rupee, which weakened almost 3 per cent last calendar year, is expected to stay under pressure, with a Business Standard poll of 10 respondents showing the median of the survey to be around 86 a dollar by the end of March.

3 mins

SUVs, urban mkt drive up Dec PV sales by 11%

Discounts, CNG cars help wholesale numbers; annual sales rise 4.7%

2 mins

Accel Closes Eighth India Fund With $650 Mn Pool

Accel, the venture capital firm backing startups like Flipkart and Swiggy, has raised $650 million (₹5,500 crore) for its eighth India fund, regulatory filings with the US Securities and Exchange Commission (SEC) showed.

1 min

'Global steel industry struggling to make profits'

Tata Steel Chief Executive Officer and Managing Director TV Narendran (pictured) on Wednesday said while the global steel sector was struggling to generate profits due to factors such as China's aggressive pricing, the demand for the metal and its consumption in India is growing.

1 min

Global headwinds, tech advancement in India Inc's New Year messages

Global headwinds, uncertainties in a \"shifting world\" where interdependencies shape economies, was a key theme in the letters India Inc captains wrote to their employees just before stepping into 2025.

3 mins

Rikant Pittie named EaseMyTrip chief

Takes charge after brother Nishant steps down

1 min

Nuclear power door now open for pvt firms, with caveats

Experts say stringent terms could make industry apprehensive

2 mins

Tamil Nadu Cancels Smart Meter Tender Awarded to Adani Energy

The Tamil Nadu Power Distribution Corporation has cancelled a global tender floated for procuring smart meters, citing the high cost quoted by Adani Energy Solutions Ltd (AESL).

1 min

NSO Looks to Empanel Pvt Agencies for Wider Coverage

In a bid to enhance its capacity to carry out a wider range of surveys on different socio-economic indicators, the National Statistical Office (NSO) has called for empanelment of private survey agencies, for tapping into additional expertise and resources, and efficient survey execution.

1 min

New Norms for Organic Agri Items on Cards

Move to Align Fresh Rules with EU Grades

1 min

UPI Transactions Hit Record 16.7 Billion in Dec

Unified Payments Interface (UPI) transactions saw an 8 per cent month-on-month increase in volume to 16.73 billion in December, the highest volume for the digital system since it became operational in April 2016.

1 min

Additional subsidy on DAP extended, to cost ₹3,850 cr

Crop insurance schemes PMFBY and RWBCIS to continue for one more year

2 mins

School enrolment fell 3.7 mn in 2023-24

Enrolment in schools across India fell by 3.7 million in 2023-24 as compared to the previous year, Ministry of Education's UDISE data showed.

1 min

Critical mineral explorations on rise, but hurdles persist

The Geological Survey of India (GSI) has undertaken 195 mineral exploration projects for critical and strategic minerals in the financial year 2024-25 (until November), a significant leap from the previous year.

1 min

GST Rate Rationalisation May Boost Consumption: Experts

Additionally, export-related refunds have seen a significant uptick, noted Jain.

1 min

Power consumption up 6% in Dec

India's power consumption rose nearly 6 per cent to 130.40 billion units (BU) in December as compared to the year-ago month.

1 min

Credit growth to NBFCs slowed to 7.8% in Nov

Retail credit growth dipped to 16.3% due to drop in personal and vehicle loans, and rise in credit card outstanding

2 mins

RBI Guv Calls for Focus on Customer Centricity, User-Friendly Services

Reserve Bank of India (RBI) Governor Sanjay Malhotra emphasised on customer centricity in his new year message to the employees of the central bank.

1 min

VFS Capital applies for SFB licence

Microfinance company VFS Capital has applied for a small finance bank (SFB) licence under the guidelines for 'on tap' licensing of SFBs in the private sector, the Reserve Bank of India (RBI) said on Wednesday.

1 min

Ukraine halts Russian gas transit to Europe

This marks end of decades of Moscow's dominance over Europe's energy mkts

2 mins

Putin asks his govt, topbank to build AI co-op with China

President Vladimir Putin (pictured) has ordered Russia's government and the country's biggest bank, Sberbank, to build cooperation with China in artificial intelligence.

1 min

Man crashes truck into New Orleans crowd, opens fire, killing 10

Mayor calls it terrorist attack, FBI agent denies

1 min

Big rockets, a big telescope and big changes in space await in '25

Our species called this latest 366-day journey around the sun \"2024\" and packed into it a ton of astronomical and spaceflight excitement.

3 mins

India 2025: Navigating an uncertain world

Managing the Trump trade and migration shock demands immediate focus

4 mins

Bends in the Ganges

In the course of history, religion has led to tectonic shifts in not just human behaviour through the introduction of rituals and customs but also influenced the general cultural and socio-political landscape.

3 mins

A Quad future

China's assertiveness ensures its relevance

2 mins

Viksit Bharat: Time for new beginnings

The year 2025 has begun with a renewed promise for Viksit Bharat, with Prime Minister Narendra Modi telling the people of India that the government would work even harder to achieve the objective of a $30 trillion economy by 2047.

3 mins

Economics of cash transfers

Increasing popularity needs to be debated

2 mins

MoD to Modernize Armed Forces in 'Year of Reforms'

To focus on promoting indigenous production and fostering innovation

2 mins

Oil prices may soften on lower risk premium

As 2024 winds up and 2025 dawns, there is a semblance of stability in the global oil market.

3 mins

MSMEs seek exemption from audits for firms below ₹5 crore turnover

Industry bodies representing micro, small, and medium enterprises (MSMEs) have asked the government to exempt MSMEs with turnovers below ₹5 crore from unnecessary audits and inspections unless major discrepancies are detected.

2 mins

CBIC breaks down GST structure for vouchers

Vouchers until redeemed won't be construed as supply of goods or services

2 mins

Air India Becomes 1st Indian Airline to Offer Wi-Fi on Domestic Flights

The in-flight Wi-Fi will allow flyers to connect multiple devices simultaneously when above 10,000 feet in the air

2 mins

2024 Warmest Year in India Since 1901: IMD

The year 2024 was the warmest on record in India since 1901, with the average minimum temperature settling 0.90 degrees Celsius above the long-period average, the India Meteorological Department (IMD) said on Wednesday.

2 mins

Blinkit, Zepto, Swiggy Instamart deliver big wins on NYE

Swiggy Instamart recorded a ₹70,325 order from Goa, Blinkit saw ₹64,988 from Kolkata

2 mins

Delhi records most 'severe' AQI days since 2022

In 2024, Delhi witnessed the highest number of severe air quality index (AQI) days since 2022.

1 min

Sebi simplifies disclosure norms for listed entities with integrated filing

The Securities and Exchange Board of India (Sebi) has made integrated filing for Listing Obligations and Disclosure Requirements (LODR) effective for all disclosures starting with the quarter ending December 2024.

1 min

Mumbai realty firms to build on demand, robust pipeline

The outlook for Mumbai-based real estate players remains strong given the launch pipeline and demand outlook reflected in the registration data for December.

2 mins

NSE enforces mechanism for brokers to curb market abuse

The National Stock Exchange (NSE) has issued a guidance note for stock brokers to ensure prevention and detection of fraud or market abuse.

1 min

ITC Hotels to go the Jio Fin way

ITC's move to hive off its hotel business will have implications for passive funds and exchange traded funds (ETFs) similar to that seen during the Reliance Industries-Jio Financial demerger.

1 min

Mkts open in green for 7th year running

2025 OUTLOOK: Face headwinds from high valuations, domestic demand issues, and global uncertainties

2 mins

Stock Consolidates, Outlook Bright

With just two trading sessions to go before the ITC-ITC Hotels demerger record date, shares of ITC continue to consolidate in a thin range of ₹460-485 in an otherwise volatile equity market.

2 mins

Index AUM criteria to limit MF Lite's ambit

The strict product launch conditions under the MF Lite framework leaves little room for innovation by asset managers opting for this newly introduced route to enter the mutual fund (MF) business, experts said.

2 mins

NPS FUND RETURNS Equity-debt allocation: Let risk appetite, not past-yr returns, decide

Funds under the National Pension System (NPS) have delivered strong returns over the past year across all asset classes, exceeding their longer-term averages.

2 mins

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