Indian Economy

[sameer]

Surprisingly we missed June month's trade data released on 15th July. But it makes sense because it looked like bad quater. Nothing worthy in it to remember or highlight.
View attachment 4120

View attachment 4121

Looks like we’ll be stuck in the $400-500B category in manufacturing exports for quite some time.

 

[Tibarn]

View: https://twitter.com/ARanganathan72/status/1816087078028918816

An important push for nuclear energy in the budget. It looks like private sector can now invest in nuclear development!

 

[abdus salem killed]

View: https://twitter.com/ARanganathan72/status/1816087078028918816

An important push for nuclear energy in the budget. It looks like private sector can now invest in nuclear development!

I keep hearing about it but no idea how far we are from stage 3

 

[Tibarn]

I keep hearing about it but no idea how far we are from stage 3

I think we aren't expected to reach stage 3 until the 2040s.

 

[Blademaster]

I think we aren't expected to reach stage 3 until the 2040s.

Why does it take so long to reach stage 3?

 

[abdus salem killed]

Discovery of Lithium Resources in Mandya and Yadgiri districts Karnataka by Atomic Minerals Directorate for Exploration and Research

Union Minister of State (Independent Charge) for Science and Technology, Minister of State (Independ

pib.gov.in

How much is this exactly?

 

[Nutcracker]

Discovery of Lithium Resources in Mandya and Yadgiri districts Karnataka by Atomic Minerals Directorate for Exploration and Research

Union Minister of State (Independent Charge) for Science and Technology, Minister of State (Independ

pib.gov.in

How much is this exactly?

1600T is nothing.
For comparison Reasi, Jammu is said to have 6Million Tonnes(G3). It's not a new information. This was declared in the same Jammu survey article one year back. This time minister and PIB are just regurgitating against a question asked in RS.

GSI confirms an inferred resource (G3) of 5.9 million tonne Lithium ore in Reasi District, J & K

Geological Survey of India has carried out a ‘preliminary exploration’ i.e. G3 stage mineral explora

pib.gov.in

 

[concard]

1600T is nothing.
For comparison Reasi, Jammu is said to have 6Million Tonnes(G3). It's not a new information. This was declared in the same Jammu survey article one year back. This time minister and PIB are just regurgitating against a question asked in RS.

GSI confirms an inferred resource (G3) of 5.9 million tonne Lithium ore in Reasi District, J & K

Geological Survey of India has carried out a ‘preliminary exploration’ i.e. G3 stage mineral explora

pib.gov.in

They better auction the mines once Lithium processing infrastructure is ready in the country. They got to do it quick. Not a single gram of Lithium should be exported. All that Lithium should either power electric vehicles or used in other applications. Let us build our own Lithium industry.

 

[abdus salem killed]

1600T is nothing.
For comparison Reasi, Jammu is said to have 6Million Tonnes(G3). It's not a new information. This was declared in the same Jammu survey article one year back. This time minister and PIB are just regurgitating against a question asked in RS.

GSI confirms an inferred resource (G3) of 5.9 million tonne Lithium ore in Reasi District, J & K

Geological Survey of India has carried out a ‘preliminary exploration’ i.e. G3 stage mineral explora

pib.gov.in

That's ore this I think is Extrctable pure lithium

 

[ezsasa]

let's say gormint decides to lower income tax and compensate the revenue deficit from market borrowings to sustain planned expenditure, what would the impact be on interest rate say home loans ? would they go lower or higher?

 

[haldilal]

1 .

KAW Veloce Motors to bring Brixton Motorcycles Austria to India; to set up production facility in Maharashtra - ET Auto

The plan is to meet the growing demand for unique and quality two-wheelers in India. KAW Veloce Motors and Brixton Motorcycles Austria will launch four models in India in the coming festive season and set up a production facility in Kolhapur, Maharashtra.

auto.economictimes.indiatimes.com

2 .

Bajaj Chetak tops 200,000 sales, last 100,000 units in 8 months | Autocar Professional

June 2024 saw the Chetak record its highest monthly sales yet – 16,691 units.

www.autocarpro.in

3 .

Persistent Systems Q1 Results: US dollar revenue up 5.6%; Pivots to AI-led, platform-driven model - CNBC TV18

The contribution of Persistent's Top 10 clients as a percentage of total revenue has now increased to 41.5% at the end of the June quarter, compared to the 35% low it had made in the December quarter of financial year 2023, which is six quarters earlier.

www.cnbctv18.com

4 .

Havmor's Pune factory to be operational by November, to produce new candy range: MD

The new factory, coming up at MIDC Talegaon in Pune, Maharashtra, will also manufacture a new range of candies. The plant will help enhance the production capacity to address future demand by adding 4 lakh litres per day, Havmor Ice Cream Managing Director Komal Anand said.

www.zeebiz.com

5 .

JNPA to Build Agri-Commodity Facility at Port for Rs 285 Cr

Jawaharlal Nehru Port Authority (JNPA) will develop a Rs 285 crore agri-commodity processing and storage facility at the port to serve Maharashtra and other states. This initiative, a first-of-its-kind in India, will be developed in a public-private partnership (PPP) mode.

money.rediff.com

6 .

Stallion India Fluorochemicals gets Sebi's approval to float IPO

Proceeds from the issue will be used towards funding working capital requirements, capital expenditure for its proposed facilities in Maharashtra and Andhra Pradesh, and general corporate purposes.

economictimes.indiatimes.com

7 .

Pune to become global astronomical research hub with IUCAA 2.0 - PUNE PULSE

Pune is set to become a major center for astronomical research with the expansion of the Inter-University Center for Astronomy and Astrophysics (IUCAA). The new facility, named IUCAA 2.0, is expected to be completed by 2025 and will significantly bolster the city’s role in global astronomical...

www.mypunepulse.com

8 .

Lupin, Huons sign license and supply agreement - IndiaMedToday

To commercialise Cyclosporine Ophthalmic Nanoemulsion in Mexico Lupin has signed a license and supply agreement with Huons Co Ltd for the registration and marketing of Cyclosporine Ophthalmic Nanoemulsion, 0.4mL Single-use Vial, in Mexico. Cyclosporine Ophthalmic...

indiamedtoday.com

9 .

Schaeffler India Q2 revenues grow 13.3% to Rs 2,072 crore | Autocar Professional

Schaeffler India Q2 revenues grow 13.3% to Rs 2,072 crore

www.autocarpro.in

10 .

Ceat plans Rs 1,000 crore capex in FY25 for capacity expansion | Autocar Professional

Ceat plans Rs 1,000 crore capex in FY25 for capacity expansion

www.autocarpro.in

11 .

Nykaa To Raise INR 125 Cr Debt Funding From FPI

Beauty ecommerce major Nykaa is looking to raise INR 125 Cr (about $15 Mn) via non-convertible debentures from a foreign portfolio investor.

inc42.com

12 .

Code World Infotech Launches ZARP: A Game-Changing Software in Accounting

Code World Infotech Launches ZARP: A Game-Changing Software in Accounting

www.uniindia.com

 

[Tibarn]

Why does it take so long to reach stage 3?

India's 3 stage Nuclear Program: Here's everything you need to know

The nuclear program of India consists of three stages. The first stage involves the Pressurized Heavy Water Reactors, the second stage involves the Fast Breeder Reactors, and the third stage involves the Advanced Heavy Water Reactors. Here is everything you need to know.

www.jagranjosh.com

Based off this article, It looks like we still need to create more Plutonium-239 and then Uranium-233 before we can reach stage 3.

 

[Physx32]

let's say gormint decides to lower income tax and compensate the revenue deficit from market borrowings to sustain planned expenditure, what would the impact be on interest rate say home loans ? would they go lower or higher?

Definitely interest rates will increase.

Since gorment is borrowing from the market, banks and lenders will increase rates as the demand is higher and the guy taking a loan is a far higher risk than gorment.

Regarding inflation, I'm not sure what will happen.

 

[karn]

Why does it take so long to reach stage 3?

The 3 stage program is stuck here

PM witnesses the historic “Commencement of Core Loading” at India’s first indigenous Fast Breeder Reactor (500 MWe) at Kalpakkam, Tamil Nadu

In a historic milestone marking entry into the vital second stage of India’s three stage nuclear pro

pib.gov.in

They have only loaded the fuel with not a peep about operationalisation since then. I have been hearing about the breeder reactor being 2 years from being operational for the last 15 years.
I'm no one to judge but a molten sodium coolant loop with the safety implications of a nuclear reactor seems to be the cause of delay here.

 

[Chandra]

let's say gormint decides to lower income tax and compensate the revenue deficit from market borrowings to sustain planned expenditure, what would the impact be on interest rate say home loans ? would they go lower or higher?

I think the interest rate on home loans etc will go higher in that case.

To keep things in perspective -
✓ Net Personal Income Tax collection in FY 2023-24 is at Rs. 10.44 lakh crore.

✓ Net market borrowings of GoI through dated securities during 2024-25 are estimated at ₹11.63 lakh crore.

✓ RBI data showed average bank borrowings on a fortnightly basis were at Rs 6.39 lakh in 2023

Theoretically speaking -

• With lower income tax rates. The tax paying population will divert the excess fund towards assets/commodities ie taking home loans or buying cars etc.
• With higher availability of Government securities in the market. Banks will be less reliant on borrowings from RBI.
• With more liquidity in the market combined with higher demand for commodities/ assets. There could be an increase in the rate of inflation.
• Thus the Banks will be forced to increase the interest rates on loans to mitigate the higher demand.

I think the only solution is increasing the tax base & then lowering the tax rates gradually. Feel free to counter though.

 

[vin pahadi (kumauni)]

I think the interest rate on home loans etc will go higher in that case.

To keep things in perspective -
✓ Net Personal Income Tax collection in FY 2023-24 is at Rs. 10.44 lakh crore.

✓ Net market borrowings of GoI through dated securities during 2024-25 are estimated at ₹11.63 lakh crore.

✓ RBI data showed average bank borrowings on a fortnightly basis were at Rs 6.39 lakh in 2023

Theoretically speaking -

• With lower income tax rates. The tax paying population will divert the excess fund towards assets/commodities ie taking home loans or buying cars etc.
• With higher availability of Government securities in the market. Banks will be less reliant on borrowings from RBI.
• With more liquidity in the market combined with higher demand for commodities/ assets. There could be an increase in the rate of inflation.
• Thus the Banks will be forced to increase the interest rates on loans to mitigate the higher demand.

I think the only solution is increasing the tax base & then lowering the tax rates gradually. Feel free to counter though.

yes...increaing tax base nd lowering tax rates is good idea. beside this i think government should open different types of public bank account in different areas. i mean if any one intrested in one area, they can contribute in them. like defense, health, nature, farmer, poor, education etc areas.
for example i m a student. i care for defense nd poors in india. i dont feel spending money for them is waste. if government hv public bank account of these, i can gladly donate 500 rupee for defense nd 500 rupee for poor in one year. this is small amount. but if 1 crore people, who dont pay direct tax collect this money. that makes 500 crore or 60 million dollars. we can buy one tejas from this money. people should hv choice in which area they want to contribute.

 

[Blademaster]

P

yes...increaing tax base nd lowering tax rates is good idea. beside this i think government should open different types of public bank account in different areas. i mean if any one intrested in one area, they can contribute in them. like defense, health, nature, farmer, poor, education etc areas.
for example i m a student. i care for defense nd poors in india. i dont feel spending money for them is waste. if government hv public bank account of these, i can gladly donate 500 rupee for defense nd 500 rupee for poor in one year. this is small amount. but if 1 crore people, who dont pay direct tax collect this money. that makes 500 crore or 60 million dollars. we can buy one tejas from this money. people should hv choice in which area they want to contribute.

Modi tried to increase tax base by demonetization, giving everyone free banking accounts, implementing VAT nationwide. There’s only so much you can do. India has to bring everyone into the personal income tax base and it’s not an easy process.

 

[sameer]

View: https://x.com/sanjeevsanyal/status/1813436677777391742

BJP government got a lot of heat for not joining this cheeni sponsored trade deal back then, but at the end of the day it was the right decision. Thai manufacturing is now getting hammered.

 

[abdus salem killed]

CEID Consultants sets ambitious targets to increase biogas production

CEID Consultants & Engineering Pvt Ltd aims to double biogas production, collaborating with oil companies and expanding globally.

www.thehindubusinessline.com

 

[ezsasa]

I think the interest rate on home loans etc will go higher in that case.

To keep things in perspective -
✓ Net Personal Income Tax collection in FY 2023-24 is at Rs. 10.44 lakh crore.

✓ Net market borrowings of GoI through dated securities during 2024-25 are estimated at ₹11.63 lakh crore.

✓ RBI data showed average bank borrowings on a fortnightly basis were at Rs 6.39 lakh in 2023

Theoretically speaking -

• With lower income tax rates. The tax paying population will divert the excess fund towards assets/commodities ie taking home loans or buying cars etc.
• With higher availability of Government securities in the market. Banks will be less reliant on borrowings from RBI.
• With more liquidity in the market combined with higher demand for commodities/ assets. There could be an increase in the rate of inflation.
• Thus the Banks will be forced to increase the interest rates on loans to mitigate the higher demand.

I think the only solution is increasing the tax base & then lowering the tax rates gradually. Feel free to counter though.

on inflation.

ultimately all sensible govts are chasing the same thing, low inflation high GDP growth scenario. in our case at this point in time, low inflation is maintained by controlling food inflation and energy/fuel inflation.

- food inflation by over supply of food grains thru PDS
- fuel inflation by keeping the taxes on petrol/diesel high with little fluctuations.

so high inflation is not an option,
reduced tax collection is not an option,
reducing debt like germany did 10 years ago at expense of growth is not an option,
high debt is not an option,
low GDP growth is not an option.

all this while having enough fiscal space to absorb global shocks, which are frequent these days.