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Business Standard
2 days ago
- Politics
- Business Standard
11 years of NDA govt: PM Modi highlights 'infra revolution' since 2014
"It's been 11 years of infrastructure revolution with outstanding infrastructure being added that has enhanced India's growth trajectory," Modi said on X BS Reporter New Delhi The Union government and Bharatiya Janata Party (BJP)-ruled state governments on Wednesday continued to highlight the achievements of the 11 years of the Narendra Modi-led National Democratic Alliance (NDA) dispensation, with the Prime Minister posting on social media details of the 'infrastructure revolution' during this period. "It's been 11 years of infrastructure revolution with outstanding infrastructure being added that has enhanced India's growth trajectory," Modi said on X. From railways to highways, ports to airports, India's rapidly expanding infrastructure network is boosting 'Ease of Living' and enhancing prosperity, he said. In a document prepared by the newly launched Press Information Bureau (PIB) Research, the government also pointed to the efficacy of the Pragati (pro-active governance and timely implementation) platform, which was put in place 10 years ago, in fast-tracking of infrastructure projects. It said the most recent meeting of Pragati, which the PM chairs, took place on May 29. This was its 47th meeting since its inception in March 2015. The government said since its launch, over 363 projects have been reviewed under the Pragati initiative, which enables the PM to directly engage with the secretaries of the government and chief secretaries of states via videoconferencing. The government also highlighted the external challenges that it has faced — whether in its response to Pakistan-sponsored terrorism with the Uri surgical strike in 2016, the Balakot air strike of 2019, and Operation Sindoor in 2025 — and how it has dealt with challenges of internal security, such as the threat of Naxalism. In Raipur, Chhattisgarh Chief Minister Vishnu Deo Sai said the PM's target of uprooting Naxalism by March next year is being fulfilled. In Chhattisgarh, 425 Maoists have been neutralised, 1,443 arrested, 1,388 others have surrendered in the last one-and-a-half years, Sai said. 'Our security forces have broken the backbone of Maoism by neutralising top Naxalites like Basavaraju and Sudhakar,' he said. According to government data, left wing extremism (LWE) districts have reduced from over 100 in 2014 to a mere 18 now. The Opposition Congress on Wednesday said 'anti-people policies' have been the hallmark of the 11 years of the government at the Centre. Congress general secretary and former Chhattisgarh Chief Minister Bhupesh Baghel pointed to a recent report to accuse the Uttar Pradesh government of concealing the number of people who died during the Kumbh stampede earlier this year, as the numbers were more than what was claimed. He said the number of deaths during the Covid pandemic, recently released data has shown, was much more than what the government had claimed.
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Business Standard
26-05-2025
- Business
- Business Standard
Fund Pick: UTI Aggressive Hybrid Fund posts strong outperformance
V Srivatsa and Sunil Madhukar Patil have been managing this fund since November 2009 and February 2018, respectively BS Reporter Listen to This Article Launched in January 1995, UTI Aggressive Hybrid Fund featured in the top 30th percentile of the aggressive hybrid funds category of Crisil Mutual Funds Ranking (CMFR) for four consecutive quarters through March 2025. The fund's month-end assets under management (AUM) increased from ₹4,279 crore in March 2022 to ₹5,910 crore in March 2025, at an annualised rate of 11 per cent. V Srivatsa and Sunil Madhukar Patil have been managing this fund since November 2009 and February 2018, respectively. The fund aims to provide capital growth and current income through a portfolio invested predominantly in equities, and the balance in
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Business Standard
20-05-2025
- Business
- Business Standard
IndusInd Bank likely to report loss in Q4 weighed by accounting lapses
Derivative portfolio losses and MFI income discrepancies may result in a Rs 200 crore Q4FY25 net loss and a structural hit to core margins, say analysts BS Reporter Private sector lender IndusInd Bank, reeling from multiple accounting lapses, is likely to report a net loss in the fourth quarter of financial year 2024-25 (Q4FY25), weighed down by ₹2,000 crore hit to its profit and loss account due to discrepancies discovered in its derivatives portfolio. The bank will report its Q4 and FY25 earnings on Wednesday (May 21). According to a consensus estimate of 12 analysts polled by Bloomberg, the bank is expected to report a net loss of over ₹200 crore in Q4FY25. Additionally, its net interest margin (NIM) is expected to contract sharply due to the various
Business Standard
16-05-2025
- Business
- Business Standard
Route One Fund trims IndusInd Bank stake by 0.65%, raises ₹386 cr
US-based hedge fund Route One Fund I LP sells over 5 million shares of IndusInd Bank for ₹386 crore, cutting its holding to just above 1 per cent BS Reporter US-based hedge fund Route One Fund I LP on Friday divested a 0.65 per cent stake in IndusInd Bank. The hedge fund sold just over 5 million shares at ₹765.7 apiece, raising ₹386 crore, according to data from the stock exchanges. At the end of the March 2025 quarter, Route One held a 1.73 per cent stake in the troubled lender. Following Friday's divestment, the hedge fund will retain a little over 1 per cent stake in the bank. As per the latest data, Category I Foreign Portfolio Investors (FPIs) held a 28.46 per cent stake in the bank as of March 2025. Among other major shareholders, mutual funds held a 27.55 per cent stake, while insurance companies held 7.43 per cent — with Life Insurance Corporation (LIC) alone holding 5 per cent.
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Business Standard
05-05-2025
- Business
- Business Standard
Defence ministry orders hit ₹2.1 trn in FY25, 92% awarded to local firms
India's defence sector received record orders as FY25 ends, with domestic firms securing 92 per cent of contracts; FY26 outlook brightens with reforms and exports push BS Reporter New Delhi The Ministry of Defence iked 193 contracts amounting to ₹2.1 trillion in FY25, which is the highest ever. Of this, ₹1.6 trillion went to domestic companies. Interestingly, the last two months of the year alone accounted for ₹1 trillion in orders. Approvals for capital procurement in March alone touched ₹54,000 crore, including BrahMos missiles, Netra early warning aircraft, upgraded tank engines, and naval weapon systems. Domestic procurement share has jumped from 54 per cent pre-pandemic to 75 per cent now. Exports in defence sector have also risen, and India is targeting to push exports to ₹50,000 crore by FY29 from ₹21,000 crore in FY24. First Published: May 05 2025 | 1:41 PM IST
