FM Nirmala Sitharamana arrives at Parliament; to present Budget today at 11 am
By Administrator_ India Capital Sands Finance Minister Nirmala Sitharaman will present the Budget on Monday in Parliament. The budget comes at a time when India is battling the coronavirus pandemic and the economy is reeling under the aftereffects of the lockdown. At the start of the joint session of Parliament on Friday, PM Narendra Modi said the Finance Minister had […]
Fitch now expects lower GDP contraction in India at 9.4% for FY21
By Administrator_ India Capital Sands A sharper-than-expected rebound by India’s economy in the second quarter has prompted Fitch Ratings to lower its projections for GDP contraction to 9.4 per cent in the current financial year from 10.5 per cent forecast earlier. However, the agency warned against weak investment demand with Covid-19 affecting the economy and asset quality […]
India’s November diesel sales decline 7% after rising in October
By Administrator _India Capital Sands India’s diesel sales fell 7% in November from a year earlier, after rising in the previous month, according to preliminary data on state refiners’ fuel sales, signaling industrial activity is still slow to pick up after a national lockdown was eased. Diesel sales in India, the world’s third biggest oil […]
Delhi ranks 27th, Mumbai 33rd among fastest-growing prime residential markets globally
By Administrator_ India Capital Sands Delhi has performed better than Mumbai and Bengaluru and is ranked 27th on Knight Frank’s global index that measures annual price appreciation of luxury residential properties. Mumbai and Bengaluru were placed at the 33rd and 34th positions, respectively. The capital’s prime residential market performed better than Mumbai and Bengaluru. Globally, the city […]
Gold Up on Mixed U.S. Stimulus News
By Administrator _India Capital Sands Gold futures inched up 0.08% to $1,863 by 11:53 PM ET (3:53 AM GMT). Investors in gold were left uncertain as to which way to turn on Friday morning in Asia. Overnight, the U.S. has made two conflicting moves regarding the future of its COVID-19 stimulus path. On the one hand, […]
Diesel, Petrol prices remain unchanged for 41st straight day
By Administrator _India Capital Sands Petrol and diesel prices remained unchanged on Thursday, as state-run oil marketing companies held the fuel prices steady. Rates differ from state to state depending on the incidence of VAT. Taxes make up for nearly two-third of the retail selling price. Here is looking at the price difference of diesel […]
RBI encourages investment in sovereign bonds as part of liquidity measures
By Administrator_ India Capital Sands The Reserve Bank of India is making longer-tenor sovereign bonds attractive again. Quantum Mutual Fund has moved to the 10-14 year segment after staying in duration of up to three years in August in its 691 million rupees ($9.4 million) Dynamic Bond Fund. UTI Asset Management Co. has turned overweight on bonds maturing in […]
PM Modi to interact with beneficiaries of scheme to help street vendors
By Administrator_ India Capital Sands Prime Minister Narendra Modi will interact with beneficiaries of ‘PM SVANidhi scheme’, which was launched in June to help poor street vendors hit by COVID-19 pandemic, from Uttar Pradesh on Tuesday via video conferencing. The PM Street Vendor’s Atmanirbhar Nidhi (PM SVANidhi) scheme was launched on June 1 to help […]
Oil prices steady amid return of supply, while COVID-19 lockdowns tighten
By Administrator _ India Capital Sands Oil prices were steady in early trade on Tuesday, sitting on losses of nearly 3% from the previous session after supplies began to resume in Norway and the U.S. Gulf of Mexico and Libya resumed production at its largest oilfield. The return of supply comes as resurgent COVID-19 infections […]
Banks’ NPAs in large industry, services dip 31% in over 2 yrs to Rs 4.3 trn
By Administrator_India Capital Sands Banks’ non-performing assets in large industry and services declined 31 per cent in over two years to about Rs 4.36 lakh crore in June this year, Parliament was informed on Monday. On whether the non-performing assets of big industries and corporate houses have increased sharply as compared to small businesses due […]