- India’s exports have seen rapid growth in various segments, including unprocessed human hair, copper wire, groundnut oil, smartphones, electronics goods, iron ore, parboiled rice, anti-cancer drugs, and small cars. However, there are declines in traditional sectors like cut and polished diamonds, cotton T-shirts, and leather exports.
- The Telangana government’s free bus ride scheme for women has led to a decrease in Hyderabad Metro’s ridership, prompting L&T to contemplate exiting the project. L&T faces financial concerns as the metro project is now classified as a non-core asset. The metro must maintain a daily ridership of over 500,000 passengers and reduce its debt to ensure feasibility.
- Stock market crash today: Indian benchmark equity indices experienced significant losses, primarily due to the weak performance of auto and IT stocks. BSE Sensex and Nifty50, the Indian equity benchmark indices, plunged in red on Monday. While BSE Sensex tanked by 750 points to dip under 72,000, Nifty50 fell by 225 points to settle below 21,500.
- Large public sector companies have invested over Rs 50,200 crore in capital expenditure in April FY25, accounting for 6.5% of their total fiscal target. The pace is slightly slower compared to the previous fiscal year. Railway, road, and oil and gas industries influenced the capital spending in the initial month of the fiscal year 2024-25.
- India’s economy grew at its slowest pace in a decade in the last quarter of 2023, as the country grapples with a slowdown in growth and rising inflation. The GDP growth rate for the quarter was 4.2%, down from 5.2% in the previous quarter.
- US economy added 311,000 jobs in February, and the unemployment rate held steady at 3.6%, as the labor market continues to recover from the pandemic. The unemployment rate has now fallen to its lowest level since the pandemic began.
- China’s economy grew at its slowest pace in 30 years in 2023, as the country faces challenges from a slowing housing market and a trade war with the US. The GDP growth rate for the year was 5.1%, down from 6.1% in 2022.
- Eurozone economy grew at its fastest pace in a decade in 2023, as the region recovers from the pandemic and benefits from a strong global recovery. The GDP growth rate for the year was 5.5%, up from 4.2% in 2022.
- Japan’s economy grew at its fastest pace in a year in the last quarter of 2023, as the country recovers from the pandemic and benefits from a strong global recovery. The GDP growth rate for the quarter was 3.2%, up from 1.6% in the previous quarter.
- UK economy grew at its fastest pace in a year in the last quarter of 2023, as the country recovers from the pandemic and benefits from a strong global recovery. The GDP growth rate for the quarter was 3.1%, up from 1.5% in the previous quarter.
