Companies in several sectors tightened their hiring funnel amid global macroeconomic headwinds and prolonged geopolitical uncertainties even as sectors that have seen business growth in the last one year, including oil & gas, power, infrastructure, energy, BFSI, travel, and real estate, recorded double-digit growth in hiring numbers, data showed.
I strongly believe it is high time policymakers, India Inc, and specifically decision makers like CFOs and HR heads, look at the workers very seriously. Because they are the brave ones who are building India and India Inc.
Crisil Ltd managing director and CEO Amish Mehta said the agency expects India's gross domestic product to grow at an average 6.7 per cent through fiscal 2031 to be the fastest-expanding large economy.
Steel finds the maximum consumption in the infrastructure space. With the Centre spending nearly a third of its budgeted funds on big-ticket infrastructure projects, demand for steel grew 13% year on year between April and July.
Banks will be required to reclassify their investments from one category to another starting from the effective date, with such changes disclosed in their financial statements for FY24, according to the RBI.
ICRA estimates that the average age of M&HCVs had increased to almost 10 years, while the average age of PVs had risen to 7.3 years in FY22, the highest in the past two decades. The growth is supported by underlying demand drivers, including the increase in mobility, improving economic activity, and healthy freight movement. The improvement in demand has resulted in a positive impact on cash flows for aftermarket dealers and garages.
According to the January data, anticipated costs in these projects is 21.67%, or Rs 4.46 lakh crore, higher than original costs. While the original value of projects was Rs 20.59 lakh crore, the anticipated cost of completion is Rs 25.05 lakh crore.
Digital competitiveness, mega public investment in infrastructure, a concerted effort to ensure development of a dominant manufacturing base, steps to reduce dependence on external energy supplies and political stability.
Apart from easing business and launching incentive schemes for several manufacturing sectors, the government in the Union Budget has stepped up its own capital expenditure by a record 33 per cent to Rs 10 lakh crore for FY24, hoping that it will cascade and kickstart a virtuous
“We believe that no policy can be cast in stone and must be dynamic to factor the on-ground conditions during its implementation. With government support, the Indian EV industry can become a global hub. The following are some steps that the government could consider to include in the Union Budget 2023-2024 to make it possible,” the Society of Manufacturers of Electric Vehicle (SMEV), said in a statement.
She said that unless solutions are cost-effective and scalable, that typical thing about India innovation is not going to be there, and without these features, things cannot be achieved as aspired.
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