Private sector invests Rs 15,164 cr in roads till November this fiscal Economic News 

Private sector invests Rs 15,164 cr in roads till November this fiscal

By Administrator_India Capital Sands Road Transport and Highways Minister Nitin Gadkari said private sector investment in road construction in 2020-21 and 2019-20 was Rs 12,475.53 crore and Rs 21,925.98 crore, respectively Private sector investment in road construction till November this financial year stood at Rs 15,164.25 crore, Parliament was informed on Thursday. In a written reply to the Lok Sabha, Road Transport and Highways Minister Nitin Gadkari said private sector investment in road construction in 2020-21 and 2019-20 was Rs 12,475.53 crore and Rs 21,925.98 crore, respectively. Gadkari said the review of Model Concession Agreement…

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Asian stocks rise with bond yields as Fed outcome boosts risk sentiment Economic News 

Asian stocks rise with bond yields as Fed outcome boosts risk sentiment

By Administrator_India Capital Sands  Asian stocks followed Wall Street higher on Thursday after the U.S. Federal Reserve said it would end bond-buying stimulus in March to set up three interest rate increases next year to tackle heated inflation. Bond yields rose while the dollar stabilized after slumping overnight as havens fell out of favour. Gold gained along with crude oil. “The economy no longer needs increasing amounts of policy support,” Fed Chair Jerome Powell said in a news conference after the conclusion of the two-day policy meeting. Japan’s Nikkei climbed 1.67%…

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India's manufacturing PMI rises to decade high amid Covid-19 pandemic India 

India’s manufacturing PMI rises to decade high amid Covid-19 pandemic

By Administrator_ India Capital Sands India’s manufacturing may be back on track, rebalancing itself from the Covid-19 impact, the purchasing managers’ index (PMI) data, released by IHS Markit on Monday, shows. India’s manufacturing PMI rose to 58.9 in October, the highest it has achieved in more than a decade. Driven by robust sales, the pace gathered by manufacturing output–a crucial component of the headline PMI–was the quickest since October 2007, contributing to the PMI’s gains, the monthly report by IHS Markit said. Headline PMI went past 56.8, seen in September, which was…

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Economic News 

Modi to meet 15 global funds as India seeks investment to lift economy

By Administrator _India Capital Sands Prime Minister Narendra Modi is set to meet 15 of the world’s largest funds to promote investments in capital-starved sectors like infrastructure. The main purpose of the meeting is to assess their views on reforms that are required to attract long-term capital into the country. The development comes at a time when capital expenditure has seen a significant fall in view of the Covid-19 pandemic, with companies going slow on their new projects. Industry experts welcomed the development. CII Director General Chandrajit Banerjee said the meeting with…

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India may see 0% GDP growth this fiscal year Economic News 

India may see 0% GDP growth this fiscal year

By Ritu, Capital Sands The impact of the coronavirus outbreak will exacerbate the material slowdown in India’s economic growth, with the country expected to see 0% expansion in the current fiscal year, analysts at Moody’s said on Friday. The ratings agency said it expected India to see no growth in financial year 2021 and bounce back to a 6.6% GDP growth in FY22, while the fiscal deficit is seen rising to 5.5% of GDP in FY21 versus the budgeted estimate of 3.5%. The COVID-19 spread in the country has also…

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India's services activity collapses as coronavirus paralyses global economy India 

India’s services activity collapses as coronavirus paralyses global economy

By Ritu, Capital Sands India’s services activity suffered a shock collapse in April as the coronavirus lockdown crippled global demand, causing a historic spike in layoffs and reinforcing fears of a deep recession in Asia’s third-largest economy, a private survey showed. The grim result for the industry, the engine of economic growth and jobs, underlined the pandemic’s sweeping impact across India as authorities extended a nationwide lockdown, in effect since March 25, until May 17. The Nikkei/IHS Markit Services Purchasing Managers’ Index plunged to an eye-popping 5.4 in April from…

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