Healthcare industry sectors

Retail inflation for industrial workers eased to 3.15 per cent in January against 7.49 per cent in the same month last year, mainly due to lower prices of certain food items. "Year-on-year inflation for the month (January) stood at 3.15 per cent compared to 3.67 per cent for the previous month (December 2020) and 7.49 per cent during the corresponding month (January 2020) of the previous year," the labour ministry said in a statement. Food inflation stood at 2.38 per cent in January compared to 2.89 per cent in the previous month (December 2020) and 10.61 per cent during the corresponding month a year ago. The All-India CPI-IW (Consumer Price Index for Industrial Workers) for January 2021 decreased by 0.6 points and stood at 118.2 points. For one-month percentage change, it decreased by 0.51 with respect to the previous month, whereas no change was observed between the corresponding month a year ago, it said. The maximum downward pressure in the current index came ... » Learn More about Retail inflation for industrial worker eases to 3.15 per cent in January

Government is all set to walk away with the highest level of excise duty collection from the petroleum sector this year, even as fuel consumers continue to face persistent increase in petrol and diesel prices that has taken the retail prices to historic high levels across the country. In the nine month period of current fiscal ending December 31, 2020, Centre's excise duty collections from the petroleum sector has already touched Rs 2,35,811 crore-mark, much more than what it got in the full financial year 2019-20. At this pace, collections may well cross Rs 3 lakh crore for the very first time in FY21. Last fiscal, the Centre received Rs 2,23,057 crore as excise revenue from the petroleum sector. The numbers were even lower at Rs 2,14,369 crore in FY19. Only in FY17, excise collections remained firm at Rs 2,42,691 crore when the government raised excise duty taking advantage of low crude prices. Higher collections as taxes have come at a time when consumers are facing the ... » Learn More about Government gets tax-rich from oil sector, consumers bear brunt

The output of eight core infrastructure sectors grew marginally by 0.1 per cent in January, mainly due to growth in the production of fertiliser, steel and electricity. The core sectors had expanded by 2.2 per cent in January 2020, according to the provisional data released by the commerce and industry ministry on Friday. Coal, crude oil, natural gas, refinery products, and cement recorded negative growth in January. However, the output of fertiliser, steel and electricity in January grew by 2.7 per cent, 2.6 per cent and 5.1 per cent, respectively. During April-January 2020-21, the sectors' output declined by 8.8 per cent against a growth rate of 0.8 per cent in the same period of the previous year. The eight core industries constitute 40.27 per cent of the Index of Industrial Production. These core sectors have recorded a growth of 0.2 per cent in December 2020. Commenting on the numbers, Icra Principal Economist Aditi Nayar said that based on ... » Learn More about Eight core industries’ output grows 0.1% in Jan

MANGALURU: Apex Industry body ASSOCHAM released a research report along with The Dialogue , titled ‘Enabling a Trillion Dollar Digital Economy ,’ in a virtual event on Friday. The event saw a host of speakers including Amar Patnaik, Member of Parliament, Jyoti Arora, special secretary and financial adviser, ministry of electronics and IT, Anita Praveen, additional secretary, Department of Telecom, and S K Gupta , secretary, TRAI . Amar Patnaik, stated that one of the greatest things that India has managed to achieve during the challenging COVID times is the increase in digital transactions which has helped sectors like healthcare and education immensely. “Digital economy has the potential to bring 90 percent of the informal sector to the formal one. For us to achieve that we need to ensure that we have a strong digital infrastructure in place,” he said. Patnaik highlighted the need to ensure that people from the most remote corners of the country have access ... » Learn More about $1 trillion digital economy possible in next four years: Assocham report

MSME ) would have a separate book written on them. Such is the contribution of the sector that not only it accounts for 29% of Indian GDP, but also employs over 11 crore people in its 6.3 crore enterprises. However, hit by the COVID-19 and its aftermath, the MSME sector almost crash-landed in 2020, facing a strong contraction in revenue . The sector suffered the most in ensuring business continuity, challenged by severe liquidity crunch and dipping demand. Amidst the crisis, it's the government's consideration for the stressed sector that has provided much impetus for the MSMEs. Fiscal Policy Support from RBI The Reserve Bank of India recently issued a notification allowing banks to deduct the amount released to new MSME borrowers from their net demand and time liabilities. This means that banks are exempted to maintain cash reserve ratio for the loans disbursed from January 1 to October 31 2021 to first time MSME borrowers. Furthermore, RBI has also allowed ... » Learn More about Ways for MSMEs to emerge stronger after the Covid pandemic

Mumbai | Bengaluru: Reliance Industries ’ Jio Platforms is finalising an investment of up to $200 million in domestic venture capital fund Kalaari Capital , according to two people in the know of the matter. The Mukesh Ambani-led conglomerate has closed a $100-million infusion, with an additional commitment of $100 million slated for later, said another person aware of the group's plans to deepen its footprint in India’s burgeoning technology sector. “Kalaari Capital has communicated to multiple venture funds about racking up $100 million from Reliance, with the rest of the capital…to come in over the next year,” said one of the persons cited above, who did not want to be identified as the talks are private. Vani Kola-led Kalaari Capital will look to raise the second tranche over the next 12-18 months from either Reliance or external sponsors, a source privy to the development told ET. The venture capital firm gained prominence in the past decade by backing a string ... » Learn More about Jio Platforms set to invest $200 million in Kalaari Capital

Prime Minister Narendra Modi on Wednesday urged foreign investors to tap the array of investment opportunities thrown up by the government’s decision to privatise most public sector entities and monetise ‘unutilised and underutilised assets’ such as airports that have an estimated investment potential of ₹2.5 lakh crore. The government’s mantra is ‘Monetise or Modernise’, the PM said, stressing that the funds raised from the exercise will help empower citizens by building homes for the poor and ensuring clean water reaches all. “Many such flaws remain in our country even today. We cannot wait any longer,” he said. “Our policy goes beyond annual disinvestment targets, to a medium-term strategic approach. This will help create new investment opportunities for industry in every sector. These are valuable assets, have served the country well, and have many future possibilities too. We have often seen, when management changes, the fortunes change,” the PM said at a webinar with ... » Learn More about ‘Monetise or modernise’ is Modi’s mantra for govt. assets

container shipping companies' performance will be strong in 2021 after a profitable 2020, according to Fitch Ratings. Spot freight rates will remain high in the short term which will flow through to contracted rates for 2021. However, Fitch said the current rates are unsustainable in the medium term as the sector is susceptible to rate volatility and risks of weak economic recovery and trade protectionism, requiring constant prudent capacity management. A combination of rebounding demand for goods in 2H 2020, supply chain disruptions -- like container box shortages and port congestion -- and more strategic capacity management drove container freight rates up, especially on the routes from China to Europe and the United States. Shipping one 40-foot container from China to Europe or the US West Coast now costs over 8,000 dollars and 4,000 dollars respectively from well below 2,000 dollars a year ago. Trade volume recovery was fuelled by a change in consumer spending ... » Learn More about Global container shipping rates high but unsustainable: Fitch

India's economy returned to growth in the December quarter, ending a recession induced by two successive quarters of economic contraction, and the recovery, which the the government termed as 'V' shaped, is expected to gather pace. The Gross Domestic Product (GDP) grew 0.4 per cent in the October-December 2020 period compared with the same period a year back, data released by the National Statistics Office on Friday showed. This growth compares with revised contractions of 24.4 per cent in April-June 2020 and 7.3 per cent in July-September. GDP had expanded by 3.3 per cent in October-December 2019. While India has become one of the few major economies to post growth in the last quarter of 2020, the annual GDP estimate for the fiscal year ending March 31 has been revised to an 8 per cent contraction, deeper than an earlier estimate of (-) 7.7 per cent. China's economy grew by 6.5 per cent in October-December 2020, faster than the 4.9 per cent growth in July-September ... » Learn More about India exits recession, economy returns to growth in Dec quarter

NEW DELHI: The Delhi government has notified the 20 per cent reduced circle rates for land and immovable properties to boost transactions in real estate. Recently, Mumbai had cut stamp duty rates which led to a massive increase in people buying and selling properties. The Lt. Governor of the National Capital Territory of Delhi notified the relaxation in the minimum rates (circle rates) for valuation of lands and immovable properties in Delhi on Friday. As per the notification, the new rates will come into force without previous publication. The above rates will be taken into consideration for registration of instruments relating to lands and immovable properties in Delhi by all the Registering Authorities under the provisions of the Indian Stamp Act, 1899 (2 of 1899) and the Indian Registration Act, 1908 (XVI of 1908) as in force in Delhi at the time of registration of instruments. These revised rates shall come into force with immediate effect till September 30. The ... » Learn More about Delhi government notifies 20% reduced circle rates for land & immovable properties