Latest news with #WholesalePriceIndex
Indian Express
15 hours ago
- Business
- Indian Express
Karnataka clears Hebbal-Silk Board, KR Pura-Mysuru Road tunnel road projects under BOOT model; to levy toll
The Karnataka Cabinet Thursday approved the construction of two major tunnel road corridors in Bengaluru under the Build-Own-Operate-Transfer (BOOT) model, clearing the way for toll-based road usage. The corridors — one stretching from Esteem Mall near Hebbal to HSR Layout/Silk Board, and the other from KR Pura to Mysuru Road — will be developed through a global tendering process, state Law and Parliamentary Affairs Minister H K Patil announced after the Cabinet meeting. 'The Cabinet considered three options — the Hybrid Annuity Model (HAM), handing it over to the National Highways Authority of India (NHAI), or BOOT. It has opted for the BOOT model, and global tenders will be floated soon,' Patil said. Under the BOOT model, the concession period has been set at 30 years, during which the selected private players will recover their investment through toll collection. The details of toll modalities will be finalised later, he added. Government sources said tenders for the high-cost Hebbal-Silk Board infrastructure project — estimated at Rs 17,780 crore — are likely to be issued within the next seven to 10 days. The detailed project report (DPR) of Bengaluru's twin-tube tunnel road project between Hebbal and Silk Board Junction has estimated a toll of Rs 330 for a distance of 16.6 km. The report also highlights that the tolls for subsequent years are calculated on the basis of a 5 per cent annual increase in Wholesale Price Index with a 40 per cent restriction. The base year for the toll revenue is FY 2030-31. Importantly, the toll estimates have been proposed only for cars, with no mention of other vehicles. According to the report, a toll rate of Rs 320 is estimated for Hebbal-Sarjapur/HSR Layout (16.3 km), Rs 250 for Hebbal-Hosur Main Road (12.79 km), Rs 180 for Hebbal-Seshadri Road (9.05 km), Rs 320 from Outer Ring Road, K R Puram-Silk Board Junction, Rs 245 for Mekhri Circle to Silk Board Junction (12.54 km), and Rs 195 for Race Course-Silk Board Junction (9.8 km). Further, the study has also estimated toll rates of Rs 255 from Jayanagar to Hebbal (13 km), Rs 245 from Jayanagar to Outer Ring Road and KR Puram (12.36 km), and Rs 130 from C V Raman Road to Hebbal (6.60 km).
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Business Standard
19 hours ago
- Business
- Business Standard
'We've won the inflation battle': RBI Guv Sanjay Malhotra on rate cuts
The Reserve Bank of India on Friday expressed confidence in having brought inflation under control, shifting its focus toward sustaining economic growth. Speaking after the Monetary Policy Committee (MPC) meeting, RBI Governor Sanjay Malhotra said the central bank had effectively curbed price pressures. 'We have won the inflation battle,' he declared. Retail inflation, as measured by the Consumer Price Index (CPI), eased to 3.16 per cent in April, the lowest since July 2019, and remained below the RBI's 4 per cent target for the third consecutive month. A sharp fall in food inflation, down to 1.78 per cent from 8.7 per cent a year earlier, played a key role in this easing trend. Meanwhile, Wholesale Price Index (WPI) inflation fell to 0.85 per cent in April from 2.05 per cent in March, driven largely by a decline in fuel and power prices. Our choice was to give certainty to markets: RBI guv Explaining the timing of the policy moves, Malhotra said, 'Our choice was to keep the stance accommodative but not act, or to act and change the stance to neutral. We chose to act. Actions are as important as intent.' He said, 'Whatever we do, we do decisively and at the right time. The more certainty we give to markets and banks, the stronger our macros will be.' The RBI reduced the repo rate to 5.5 per cent, and lowered the Cash Reserve Ratio (CRR) to 3 per cent from 4 per cent, to be implemented in four tranches starting in September. The RBI governor said the CRR move alone would inject about ₹2.5 lakh crore into the system by November-end. 'We could have announced the CRR cut later,' he said, 'but we did it today to assure banks that liquidity will be maintained. It gives them room to plan credit and reduce rates.' CRR comfortable for liquidity management Explaining the rationale behind the CRR cut, Malhotra said, 'Over the last 12–13 years, CRR has mostly remained at 4 per cent. During Covid, we reduced it by 1 per cent. Based on current experience, 3 per cent is a comfortable reserve ratio from a liquidity management perspective.' He estimated the cut could improve bank Net Interest Margins (NIMs) by at least seven basis points. Neutral stance means data-dependent decisions On the shift from an accommodative to a neutral stance, Malhotra clarified, 'Neutral means we are open to either direction; it all depends on incoming data. The statute doesn't mandate a vote on stance, but all six MPC members were in agreement to shift to neutral.' He said the MPC has 'limited scope to boost growth', which made the change in stance necessary. 'If the data demands that we stay put, we will. But if it points to further action, we will not hesitate,' he said. Lending norms eased for small loans, gold loans In an effort to improve credit access, especially for small borrowers, the RBI announced the following: LTV cap for small loans (up to ₹2.5 lakh) has been raised to 85 per cent from 75 per cent, including interest. Final guidelines for gold loans will be released by Monday. Credit appraisal will no longer be required for small-ticket gold loans. End-use monitoring will apply only to loans under Priority Sector Lending. These changes are likely to ease access to funds for low-income borrowers, particularly in rural India where gold loans are a primary source of credit. Liquidity abundant; no target call rate On liquidity management, Malhotra reiterated: 'Liquidity is abundant. We have not set any target call rate. We'll watch how the situation evolves, but right now, there's no concern.'
Business Recorder
4 days ago
- Business
- Business Recorder
May CPI-based inflation increases 3.5pc YoY
ISLAMABAD: The Consumer Price Index (CPI)-based inflation increased to 3.5 percent on Year-on-Year basis in May 2025 as compared to 0.3 percent of the previous month and 11.8 percent in May 2024, says the Pakistan Bureau of Statistics (PBS). Average CPI in the country remained at 4.61 percent during the first 10 months (July-May) 2024-25 compared to 24.52 percent during the same period of last fiscal year. On Month-on-Month (MoM) basis, it decreased by 0.2 percent in May 2025 as compared to a decrease of 0.8 percent in the previous month and a decrease of 3.2 percent in May 2024. The CPI inflation Urban increased to 3.5 percent on year-on-year basis in May 2025 as compared to 0.5 percent of the previous month and 14.3 percent in May 2024. On Month-on-Month basis, it increased to 0.1 percent in May 2025 as compared to a decrease of 0.7 percent in the previous and a decrease of 2.8 percent in May 2024. The CPI inflation Rural increased to 3.4 percent on Year-on-Year basis in May 2025 as compared to a decrease of 0.1 in the previous month and 8.2 percent in May 2024. On Month-on-Month basis, it decreased by 0.5 percent in May 2025 as compared to a decrease of 1.0 percent in the previous month and a decrease of 3.9 percent in May 2024. The Sensitive Price Index (SPI) inflation on YoY decreased by 0.6 percent in May 2025 as compared to a decrease of 3.6 percent a month earlier and 15.3 percent in May 2024. On MoM basis, it decreased by 1.0 percent in May 2025 as compared to a decrease of 2.1 percent a month earlier and a decrease of 4.0 percent in May 2024. Wholesale Price Index (WPI) inflation on YoY basis increased to 0.4 percent in May 2025 as compared to a decrease of 2.2 percent in the previous month and 9.9 percent in May 2024. On Month-on-Month basis no change measured in May 2025 as compared to a decrease of 1.3 percent in the previous month and a decrease of 2.5 percent of the corresponding month of last year i.e. May 2024. Measured by non-food non-energy urban slightly decreased to 7.3 percent on YoY basis in May 2025 as compared to 7.4 percent of the previous month and an increase of 12.3 percent in May 2024. On MoM basis, it decreased by 0.4 percent in May 2025 as compared to 1.3 percent measured in the previous month and an increase of 0.4 percent in corresponding month of last year i.e. May 2024. Measured by non-food non-energy rural decreased to 8.8 percent on YoY basis in May 2025 as compared to 9.0 percent of the previous month and an increase of 17.0 percent in May 2024. On MoM basis, it decreased to 0.4 percent in May 2025 as compared to an increase of 0.9 percent measured in the previous month and an increase of 0.5 percent in corresponding month of last year i.e. May 2024. Measured by 20 percent weighted trimmed mean urban increased by 4.9 percent on YoY basis in May 2025 as compared to 3.8 percent of the previous month and 11.0 percent in May 2024. On MoM basis, it increased by 0.1 percent in May 2025 as compared to an increase of 0.3 percent in the previous month and a decrease of 0.5 percent in corresponding month of last year i.e. May 2024. Measured by 20 percent weighted trimmed mean rural increased by 4.7 percent on YoY basis in May 2025 as compared to 3.3 percent of the previous month and 10.6 percent in May 2024. On MoM basis, it decreased by 0.2 percent in May 2025 as to compare a decrease of 0.1 percent in the previous month and a decrease of 0.9 percent in corresponding month of last year i.e. May 2024. Copyright Business Recorder, 2025
Time of India
30-05-2025
- Automotive
- Time of India
Chandigarh administration set to roll out fare checks for app-based cabs
1 2 3 Chandigarh: To prevent mobile app-based aggregators from overcharging commuters, the Chandigarh administration will establish minimum and maximum fares charged by aggregators, with a cap on 'surge pricing'. The Punjab Governor and UT Administrator, Gulab Chand Kataria, approved the 'Chandigarh Administration Motor Vehicle Aggregator Rules, 2025', which will be notified soon. According to the rules, the city taxi fare, indexed by the Wholesale Price Index (WPI) for the current year, will serve as the base fare chargeable to customers using aggregator services. The Chandigarh Administration will notify taxi fares periodically. The base minimum fare chargeable to customers using aggregator services will cover a minimum of 3 kilometres to compensate for dead mileage and the distance travelled, as well as fuel used for picking up customers. Aggregators will be allowed to charge a fare 50% lower than the base fare and a maximum surge pricing of 1.5 times the base fare specified under the rules. This approach will promote asset utilisation, a fundamental concept of transport aggregation, and support the dynamic pricing principle, which is crucial for ensuring asset utilisation in line with market demand and supply forces. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo The rules also stipulate that the UT may, through notification, direct 2% of the total fare for each ride towards the state exchequer for amenities and programmes related to aggregator-operated vehicles. These vehicles have significantly reduced traffic congestion and pollution. The rules prohibit the use of private vehicles under the aggregator service, as many aggregators, particularly those operating two vehicles, are using private vehicles.
Mint
18-05-2025
- Business
- Mint
Mid-cap, Small-cap stocks to shine amid improving market sentiment, says Geojit' Vinod Nair
The Indian stock market underwent a correction phase from 27th September 2024 to 7th April 2025—a span of 192 days, or roughly six and a half months. This consolidation was triggered as India's total market capitalisation (BSE) surged to ₹ 4.8 trillion in Sept 2024, pushing the estimated Market Capitalisation to GDP (Mcap/GDP) ratio to 145% based on FY24 nominal GDP, well above the ten-year average of ~90%. This rally followed the euphoric third-term victory of the incumbent government in the June 2024 national elections. The political stability and anticipated continuation of reforms spurred heavy buying by domestic institutional investors (DIIs), retail investors, and foreign investors under the 'Buy India' strategy. However, the optimism was short-lived as corporate earnings for FY25 sharply declined. Nifty EPS growth was downgraded to just 5% YoY, a significant drop from the 15% forecasted at the fiscal year's start. Several factors contributed to the earnings slowdown: Frequent Elections : Nine state elections and one national election in FY25 led to a significant reduction in both general and capital government spending. : Nine state elections and one national election in FY25 led to a significant reduction in both general and capital government spending. Weak Demand : Rural and urban consumption was hit by an uneven monsoon, heatwaves, high food inflation, and sluggish wage growth. : Rural and urban consumption was hit by an uneven monsoon, heatwaves, high food inflation, and sluggish wage growth. Global Headwinds: Elevated global inflation impacted corporate toplines and EBITDA margins, compressing profit margins. As a result, the broader Indian market corrected by 20%, making mid- and small-cap stocks more attractive today due to both price and valuation corrections. The Nifty MidSmallcap 400 Index saw an intraday correction of 25% during this period. The recent Q4 FY25 earnings season has brought encouraging signs. Companies in the Nifty 500 have reported 10.5% earnings growth much better than estimated and marginally better than large caps. This indicates a revival in mid- and small-cap earnings. Last two quarters showcase those earnings cyclical growth is back. The Wholesale Price Index (WPI), which reflects corporate inflation, dropped to 0.85% in April from an average of 2.25% in Q1 2025. This decline is already translating into improved operational profits, aided by industry-wide repricing strategies and significant ease in inflation. The momentum is expected to continue into Q1 FY26 (June quarter), supported by: Falling Inflation : Lower input costs are boosting margins. : Lower input costs are boosting margins. Rising Disposable Incomes : Thanks to tax cuts announced in the 2025–26 Budget. : Thanks to tax cuts announced in the 2025–26 Budget. Increased Government Spending : Post-election fiscal activity is picking up. : Post-election fiscal activity is picking up. Declining Interest Rates: Lower borrowing costs are expected to spur consumption and investment. These factors are likely to enhance revenue growth and profitability across sectors. Market sentiment is also improving due to easing global and domestic risks. A pause in global trade tensions and reduced geopolitical risks in Central Asia, the Gulf, and the India-Pakistan region are lifting investor confidence. The likelihood of a U.S. recession in 2026 is also diminishing, further supporting global market stability. This improving macro backdrop has sparked a preliminary rally in mid- and small-cap stocks, with renewed interest from both FIIs and retail investors. Historically, Indian mid-caps have traded at a premium to large caps. In 2024, this premium peaked at 67%, compared to a five-year average of 33%. During the recent correction, the premium dropped significantly and now stands at 36%—a level that suggests strong long-term buying opportunities, especially if earnings continue to rebound in Q1 FY26. The author, Vinod Nair is Head of Research at Geojit Financial Services. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making investment decisions.
