After hitting a low of 4 per cent last fiscal year, private consumption growth is set to strengthen this fiscal. Consumption growth has been slow to recover due to the incomplete recovery of incomes from the pandemic’s impact. However, this fiscal ye

A raft of factors can whet spending propensity

Consumption tailwinds

Business Standard

vegetable, household income, price, inflation

Easing inflation, a smaller fiscal deficit and a turn in US Federal Reserve's policy rates create grounds for policy rate cuts in India

4 shocks pushed up prices, led to supply disruptions and price reactions

Rail Minister Ashwini Vaishnaw on Sunday said the Railways would run about 13,000 trains, including 3,000 special ones, for the convenience of devotees during the Maha Kumbh.
The Union minister, who reached Prayagraj by train from Varanasi to review the Railways' preparations for the mega event, expects about 1.5 to 2 crore passengers to reach the city by train during the mela.
The Maha Kumbh will commence on January 13 on the occasion of Paush Purnima and conclude on February 26 on Mahashivratri.
After inspecting several stations under the Northeast Railway, Northern Railway and the North Central Railway in Prayagraj, the minister told reporters, "I also inspected the new bridge built over the Ganga, which will soon be inaugurated by Prime Minister Narendra Modi. A new bridge has been built over the Ganga here after 100 years."
"I personally inspected five stations. The holding areas at these stations, where the devotees will be able to sit till their trains arrive, are very good.

A case was lodged on Sunday over a clash between police and followers of Hindu monk Chinmoy Krishna Das on the court premises in Chittagong, according to a media report.
The Dhaka Tribune newspaper said the case names the Hindu leader, arrested on a charge of sedition, as the prime accused, along with 164 identified individuals and 400 to 500 unidentified people.
The complaint was filed by Enamul Haque, a businessman and activist of Hefazat-e-Islam Bangladesh, in the court of Chittagong Metropolitan Magistrate Md Abu Bakar Siddique.
Haque in his complaint alleged that he was attacked by followers of Chinmoy Krishna Das while returning home after completing land registry work at the court on November 26.
The businessman claimed that he was targeted for wearing a panjabi', a kurta, and a cap, which resulted in injuries to his right hand and head.
He was rescued by bystanders and admitted to Chittagong Medical College Hospital, the newspaper said. Haque also said that his delay in fi

Chinmoy Krishna Das

An analyst said that in the last two-three years, there have been a lot of other hotel companies that are desperate to enter the Indian market with a branding sign

hotel

'Hindutva' is a disease which is defaming Hinduism and leading to "lynching and persecution" of minorities especially Muslims, with the BJP using it to strengthen its vote bank, PDP Chief Mehbooba Mufti's daughter Iltija on Sunday said.
BJP took exception to the remark and demanded an apology for the "derogatory words".
"Ram the deity must hang his head in shame & watch helplessly as minor Muslim boys are whacked with chappals only because they refuse to chant his name. Hindutva is a disease thats (sic) afflicted millions of Indians & sullied a Gods name," Iltija wrote on X, reposting a video of an incident where a Muslim man is being beaten.
Later, talking to reporters on the sidelines of a function in Jammu, Iltija defended her remark and accused the BJP of allowing such a situation to take place in the country.
"There is a big difference between Hindutva and Hinduism. Hindutva is about the feeling of hatred, which (Vinayak Damodar) Savarkar (who developed the Hindu ...

Iltija Mufti, Iltija

Meanwhile, as the fight continues in the Delhi High Court, Mahindra said in a statement on Saturday, "We are hence taking the decision to brand our product the BE 6

mahindra

A day after presenting bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das on Saturday met Finance Minister Nirmala Sitharaman.
The meeting comes just ahead of the extended term of incumbent RBI Governor coming to an end. Das's three-year extended term comes to an end on December 10.
In 2021, the government had announced a three-year extension to Das's tenure, a month before his term came to an end.
According to sources, Das called on the Finance Minister in the evening here.
The career bureaucrat-turned-central banker, Das, was appointed the 25th RBI Governor on December 12, 2018, after the abrupt exit of Urjit Patel.
With the three-year-extension granted to Das, he is already one of the longest serving RBI governors in its 90-year history.
The RBI had on Friday opted for a status quo on the rates for the 11th consecutive time, amid growing calls to address the slowdown in GDP growth in the September quarter at 5.4 per cent.
Das, while unveiling bi-monthly policy,

Shaktikanta Das, Shaktikanta, RBI Governor

After heavy selling in the past two months, foreign investors have staged a strong comeback to Indian equities with a net investment of Rs 24,454 crore in the first week of December amid stabilising global conditions and expectations of potential US Federal Reserve rate cuts.
This revival follows significant outflows in the preceding months, with foreign portfolio investors (FPIs) pulling out a net Rs 21,612 crore in November and a massive Rs 94,017 crore in October - the worst monthly outflow on record.
Interestingly, September had marked a nine-month high for FPI inflows, with a net investment of Rs 57,724 crore, highlighting the volatility in foreign investment trends.
With the latest inflow, FPI investments have reached Rs 9,435 crore in 2024 so far, data with the depositories showed.
Looking ahead, the flow of foreign investments into Indian equity markets will hinge on several key factors. These include the policies implemented under Donald Trump's presidency, the prevailing 

FPI, Foreign portfolio investment

Stakeholders from the micro, small and medium enterprises (MSME) sought a reduction in GST, technology upgrade, and production-linked incentive scheme benefits for various segments in a pre-Budget meeting with Finance Minister Nirmala Sitharaman on Saturday.
The meeting aimed to seek inputs and suggestions for the Budget for 2025-26, expected to be presented on February 1.
Members from the Association of Women Entrepreneurs of Karnataka (AWAKE); Karnataka SC and ST Entrepreneurs' Association; Plant-Based Food Industry Association (PBFIA); Ambala Scientific Instruments Manufacturers' Association (ASIMA); Rajasthan Footwear Manufacturers' Association were among the participants at the meeting.
The All-India Plastics Manufacturers' Association; All India Manufacturers' Association; Gujarat Chamber of Small Industries Association; Federation of Associations of Cottage and Small Industries (based in West Bengal); Federation of Andhra Pradesh Small and Medium Association; and Laghu Udyog 

Adani Group's solar power contract, which is at the centre of bribery allegations, has tariffs that are lower than competition and can find new buyers in case the pact is cancelled, according to analysts.
US authorities have charged Adani Group Founder-Chairman Gautam Adani and others for being part of a scheme to offer USD 265 million bribe to Indian officials to gain a contract to supply 8 gigawatt of electricity generated from solar energy by Adani Green Energy Ltd (AGEL). The group has denied all charges.
"If Adani promoters are found guilty, we believe the size of potential penalty is manageable given it is up to three times the value of the bribe," Nomura said in a report.
The brokerage said there are about 1.8 GW solar projects commissioned in Gujarat from February-March 2024, with tariff of Rs 2.42 per unit under the 25-year power purchase agreements (PPAs).
These operational projects are running under 5 special purpose vehicles, namely Adani Green Energy Twenty Four A Ltd 

adani

Insurance Amendment Bill, which proposes 100 per cent FDI in the insurance sector, may not be introduced in Parliament in the ongoing session, sources said.
Some finetuning may be required in the draft Bill after receiving comments from stakeholders, sources said.
Given the paucity of time, it is difficult to present the Bill in the ongoing session, sources said, adding it may, however, come in the Budget session.
The finance ministry has proposed to amend various provisions of the Insurance Act, of 1938, including raising foreign direct investment (FDI) in the insurance sector to 100 per cent, reduction in paid-up capital, and provision for composite licence.
The Department of Financial Services (DFS) has sought public comments on the proposed amendments by December 10.
As per the proposal, the FDI limit in Indian insurance companies will be raised from 74 per cent to 100 per cent.
This is the second public consultation that the DFS has sought on the proposed amendments to the .

Parliament, New Parliament

Stricter lending norms adopted in face of slew of  concerns will restrict asset growth OF NBFC-MFIs to 5 per cent in FY25, a report by Icra said on Thursday.
Icra has assigned a negative outlook on the sector, given the significant near-term headwinds on growth, asset quality and profitability.
The last two years had seen a robust expansion in assets under management for non-banking finance companies-microfinance institutions (NBFC-MFIs) but the same is set to moderate to 0-5 per cent in FY25, the report said.
The agency attributed the fall in growth to challenges stemming from borrower over-leveraging, socio-political disruptions, and employee attrition-led operational challenges.
The sharp increase in the overall overdue book in H1 FY2025 also poses a significant downside risks to the near-term loan quality of the sector, it said.
The credit costs will increase to 5.4-5.6 per cent from 2.2 per cent in FY24 for NBFC-MFI entities, the agency said, adding that this, along with a ..

The limit of loans under the Pradhan Mantri Mudra Yojana (PMMY) was doubled to Rs 20 lakh recently, inserting a new category—Tarun Plus. Launched 10 years ago, the scheme intended to provide microfinance to small entrepreneurs. However, the number of

The number of billionaires in China fell to 427 in 2024 from last year's 520 following the slowdown in the economy, Switzerland-based multi-investment bank UBS said on Thursday.
The total wealth of these billionaires decreased by 20 per cent to about USD 1.4 trillion highlighting the impact of economic slowdown on the world's second largest economy on the once flourishing private sector.
Plagued by the crisis in the property sector and turmoil in financial markets, the list of China's rich with assets of USD one billion shrank by 132 while 42 new billionaires were minted and three moved away, the UBS report said.
Many of the billionaires we have in China are relatively new in the context of total wealth, said Benjamin Cavalli, head of strategic clients at UBS Global Wealth Management.
Compared to other markets, such as the US or Europe, where the total wealth is on an average higher per billionaire, those in China are often hovering near USD one billion, Cavalli said.
So, whenever

china Flag, China

Nearly 30.4 crore unorganised workers have  registered on e-Shram portal as on December 1, 2024, Parliament was informed on Thursday.
Ministry of Labour and Employment launched the portal on August 26, 2021 for creation of a comprehensive National Database of Unorganised Workers (NDUW) seeded with Aadhaar.
The portal is meant to register and support unorganised workers by providing them a Universal Account Number (UAN) on a self-declaration basis.
As on December 1, 2024, over 30.43 crore unorganised workers have registered on e-Shram, Minister of State for Labour and Employment Shobha Karandlaje said in a written reply in Rajya Sabha. The number of registrations from rural areas is 27.22 crore.
So far, 12 schemes of different central ministries/ departments have been integrated or mapped with e-Shram. These schemes include Pradhan Mantri Surakhsa Bima Yojana (PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Ayushman Bharat, Prime Minister Street Vendors AtmaNirbhar Nidhi .

Labourers,Labourer

The head of Britain's armed forces has warned that the world stands at the cusp of a third nuclear age,' defined by multiple simultaneous challenges and weakened safeguards that kept previous threats in check.
Admiral Tony Radakin, chief of the defence staff, said Britain needs to recognise the seriousness of the threats it faces, even if there is only a remote chance of Russia launching a direct nuclear attack on the UK or its NATO allies.
While the Cold War saw two superpowers held at bay by nuclear deterrence and the past three decades were characterised by international efforts to restrict the spread of nuclear weapons, the current era is altogether more complex, Radakin said Wednesday in a speech to the Royal United Services Institute.
We are at the dawn of a third nuclear age' he said. It is defined by multiple and concurrent dilemmas, proliferating nuclear and disruptive technologies and the almost total absence of the security architectures that went before.
Challenges face

The US, Russia, China, France, the UK, India, Pakistan and North Korea acknowledge possessing nuclear weapons. Israel is believed to have a secret arsenal. Iran may also be on the verge of developing nukes

Nvidia also said it has acquired healthcare startup VinBrain, a unit of Vietnamese conglomerate Vingroup, but didn't provide the value of the deal

Nvidia

For the MSCI Asia ex-Japan index, Nomura predicts muted returns, with end-2025 targets ranging from 573 to 859. The index is currently around 590 levels

Dipti Deshpande

Dipti Deshpande

Dipti Deshpande

Consumption tailwinds

4 shocks pushed up prices, led to supply disruptions and price reactions

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Railways to run 13,000 trains for Maha Kumbh, says Ashwini Vaishnaw

Case lodged against Chinmoy Krishna Das, his followers in Bangladesh

Hotel asset management companies make room for international brands

Hindutva is a 'disease', says PDP's Iltija Mufti; BJP seeks apology

Fight for 6E is giving Mahindra vehicle free publicity, say brand experts

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RBI Guv Das meets FM Sitharaman two days before end of his extended term

FPIs return to Indian equities with Rs 24,454 cr inflow in Dec first week

Pre-Budget meet: MSME stakeholders seek tech upgrade, PLI benefits, GST cut

Adani's solar contract has lower tariff, can find new buyer: Analysts

Insurance Amendment Bill proposing 100% FDI unlikely in winter session