"The increased amount is towards the payment of AGR dues to BSNL, which is a part of its revival package. The Department had proposed an amount of ₹33,111.00 crore for the AGR dues. The payment will be made once BSNL claims the amount and is most likely to happen in the first quarter of FY24," the DoT informed in a written reply to the panel.
The CEA's statement comes after latest data showed that economic growth slowed to 4.4% in the third quarter of this fiscal, against 6.3% in the previous quarter, partly due to the adverse base effect. However, the National Statistical Office has retained its 7% growth forecast for the entire fiscal, with an implied growth rate of 5.1% for the fourth quarter. The latest Economic Survey has projected a growth rate of 6.5% for FY24.
Godrej Properties sold properties worth Rs 2,675 crore in Delhi-NCR, Rs 2,053 crore in the Mumbai Metropolitan Region (MMR), Rs 1,452 crore in Bengaluru and Rs 1,376 crore in Pune. These are the four major markets for the company. Godrej Properties, which is the real estate arm of the business conglomerate Godrej Group, is one of the leading real estate developers in the country.
"We are pursuing a branch build strategy and have another 600 branches in the pipeline," said Srinivasan Vaidyanathan, chief financial officer of HDFC Bank. "The goal is to grow faster than the market to gain deposit share. We are striving to get there by expanding our distribution and getting closer to the customer."
The company, which had a net automotive debt of Rs 57,000 crore in the third quarter ended December 2022, began the ongoing fiscal with about Rs 48,700 crore of net automotive debt. "We remain committed to that. We do see a stretch with respect to JLR given that it has lost about six to eight months because of the semiconductor issue," Balaji said while addressing a quarterly earnings conference call.
India's economy is expected to grow 7.0% in the current financial year, according to the first advance estimates by the National Statistical Office (NSO) released on Friday. New Delhi had pegged India's growth at 8.7% in the last fiscal year that ended March 31, 2022. The RBI had projected the real GDP growth for 2022-23 at 6.8 per cent, with the third quarter at 4.4 per cent and the fourth at 4.2 per cent.
Public debt accounted for 89.1% of total gross liabilities at September-end, up from 88.3% as on June 30, said the quarterly report on public debt management released by the finance ministry on Tuesday.
A finance ministry notification said the rate shall remain unchanged from the current rates applicable for the third quarter (October1 to December 31) of fiscal year 2021-22.
The bank recorded a net profit of Rs 6,658 crore in the corresponding quarter last year and Rs 8,186 crore for the quarter ended March 2021.
"The quarter was very good. We have been focussing on asset quality, which is very robust. Overall, there has been above 100 per cent increase in our profit from Rs 137 crore in Q4 FY20 to Rs 276 crore this year (Q4 FY21),” the company's Vice Chairman, managing director and CEO Gagan Banga said.
After a 43.1% fall in enquiry volume in the Q1FY21, the enquiry volumes bounced back to a year on year growth of 12.1% in the subsequent quarter as the lockdowns eased and business resumed for most sectors.
Get updates on your preferred social platform
Follow us for the latest news, insider access to events and more.
