Category: News

Categories
News

India Inc’s Revenue Expected to Grow at 15-17% in Fourth Quarter of FY21: Report

Growth in FDI | Representational Image (Photo Credits: Pixabay)
Growth in Revenues | Representational Image (Photo Credits: Pixabay)

The corporate revenues in India are likely to grow by 15 per cent to 17 per cent year-on-year in the forth quarter of financial year 2021, as per a report by Crisil. It further adds that the revenues are expected to rise to Rs 6.9 Lakh Crore by the said duration. This comes after eight quarters of either decline or single digit growth in the sector. According to the report,  construction-linked sectors such as steel and cement are estimated to have seen revenue rise 45-50 per cent and 17- 18 per cent on-year, respectively, buoyed by higher realisations and volumes. India Attracts More Than $72 Billion FDI In The First 10 Months of FY21.

The revenue estimates are based on an analysis of 300 companies, that totals to around 55-66 per cent of the market capitalisation financial services and oil companies of the National Stock Exchange.  “The robust revenue growth rides on a low base of the corresponding year-ago quarter, besides higher government capital expenditure, and higher realisations amid a commodity upcycle, among others,” said Crisil Research Director Hetal Gandhi. 3 Top Investment Schemes in India to put your money at!

“Revenue for players in sectors such as airline services is estimated to drop 30 per cent on-year amid social distancing and cut in discretionary expenses, especially travel budgets,” he added.  “Similarly, revenue for players in media and entertainment is also expected to drop 10 per cent on-year due to lower advertisement spends and subscriptions. That said, a lower share of such sectors in the top 300 sectoral mix has muted the impact,” said  Gandhi.

According to the report by Crisil, that owing to the second wave of coronavirus pandemic, various states are likely to mount partial lockdown, keeping demand recovery uncertain in the near term. The COVID-19 cases have lately witnessed a spike in India, several states in Maharashtra, Punjab have already imposed a night curfew in order to curtail the spread of virus.

Categories
News Powerful Personalities

Actor Sonu Sood becomes a Messiah Again; Adopts 4 daughters of Uttarakhand Disaster Victim

Once again, the Bollywood actor Sonu Sood emerged as the savior after adopting four daughters of a man who had lost his life in the recent Uttarakhand floods that happened earlier this month.

Alam Singh Pundir, a 45-year old resident of the Loyaal village of Tehri district was working as an electrician in the Tapovan Hydropower project. He was working inside the tunnel when the flash flood took place. He lost his life in the floods, leaving his wife and four daughters behind.

Earlier this month, a glacier burst in Uttarakhand`s Chamoli district causing widespread destruction and damage to life and property. Not only the avalanche and flash flood claimed many lives, but many people also went missing and untraceable.

Sonu Sood, who was informed on Twitter about the deceased and his family, which includes his wife and four daughters, aged 14, 11, 8, and 2 years, came to their aid. His team immediately extended a helping hand to the family and the actor has decided to adopt and support the family of the deceased.

Sonu Sood posted a Tweet on the social media platform, calling the family of the deceased “his own” from now onwards.

He will also help the daughters to receive education and get married. This is not the first time that the actor-turned-philanthropist has come forward to help someone in need. Actor Sonu Sood has consistently helped many underprivileged families during the nationwide lockdown.

His generosity and noble gestures inspired thousands of fans, politicians, peers, and many celebrities. He earned the title of a Messiah and a real-life superhero.

 

 

Categories
News

The Centre released the 17tth Installment of GST Compensation: What it means for States & UTs?

gst
GST

The 17th weekly installment of INR 5,000crore has been released by the Centre on 19 February 2021 to the states to meet the shortfall of Goods & Services Tax (GST).

Previously, the installment of ₹6,000crores was released on 15 February 2021 on Monday. A large amount of financial aid has been borrowed by the states this week at an interest rate of 5.5924%.

According to the latest press release by the department of expenditure of the Finance Ministry an amount of total amount ₹4,730.41crores has been released to 23 states.

The three union territories with the Legislative Assembly (Delhi, J&K, and Puducherry) who are the members of the GST council also received the amount of ₹269.59crores, the statement read.

The remaining five states Manipur, Arunachal Pradesh, Nagaland, Sikkim, and Mizoram do not have a gap in revenue on account of GST Implementation.

In October 2020, the Centre established a special borrowing window to meet the estimated shortfall of ₹1.10 lakh crores in the revenue due to the implementation of GST. The government has also granted the additional borrowing permission equivalent to 0.50% of Gross States Domestic Product.  In addition to this special window, the Centre has also provided funds through the special window to meet the shortfall.

“All the states have given their preference for Option-I. Permission for borrowing the entire additional amount of ₹1, 06,830 crores (0.50% of GSDP) has been granted to 28 states under this provision,” the Finance Ministry said.

Categories
News

Sonam Wangchuk`s latest Innovation can Keep Indian Army Soldiers Warm in Sub-zero Temperatures!

While some people use their knowledge and wisdom to gain fame and money, some people in India have been an inspiration for the entire nation. And, today we are talking about none-other-than Sonam Wangchuk- the man behind the character of ‘Phunsukh Wangdu’ in the Bollywood film ‘3 Idiots’.

Known for his creative solutions to practical problems, the innovator and education reformist has found a solution to keep the Indian Arms soldiers in the Ladakh region warm. Sonam Wangchuk has built a solar-powered portable military tent for soldiers to keep them warm in the sub-zero temperatures of Ladakh.

While the tent can accommodate up to 10 soldiers at a time, the fully portable tent weighs less than 30 kgs. On Friday, 19th February 2021, Wangchuk also shared the images of his solar-powered military tent. This latest innovation by Sonam Wangchuk has left everyone amazed, including some of the most influential personalities.

Appreciating his efforts, the chairman of Mahindra Group, Anand Mahindra tweeted, “Sonam, you’re the MAN! I salute you. Your work is energizing, even this late in the evening…”

Who is Sonam Wangchuk?

Though most of us are familiarized by the lead character of Phunsukh Wandu, Sonam Wangchuk is an Indian engineer, education reformist, and innovator. Born on September 1, 1966, he is the founding director of the Students` Educational and Cultural Movement of Ladakh (SECMOL). The school came into existence when a group of students who were the ‘victims’ of an alien education system decided to bring the education system.

Sonam Wangchuk is also known for designing the SECMOL campus that works on solar energy for cooking, heating, and lighting. He has also invented the Ice Stupa technique that creates artificial glaciers. It is used to store water during winters in the form of a conical-shaped ice heap.

Have an idea that holds the power to bring a revolution in the world? Do not hold yourself back and start working on it. Because success is not a place, rather it`s a journey that never stops at one place.