India’s Economy Soars: Growth Surpasses Estimates, Consumption Booms


New Delhi, December 29, 2023: India’s economic engine is roaring! The Finance Ministry’s half-yearly review revealed robust performance, surpassing growth projections and painting a bright picture for the future. Here are the key highlights:

Growth Beyond Expectations:

  • Real GDP surged 7.7% in the first half of FY24, exceeding the government’s estimate of 6.5%.
  • Strong domestic demand, fueled by a 4.5% rise in private consumption expenditure, propelled this impressive growth.
  • India emerged as the fastest-growing major economy in H1, attracting positive attention from both domestic and international agencies.

Inflation on the Decline:

  • Core inflation is steadily decreasing, while fuel inflation remains negative, leading to an overall downward trend in headline inflation.
  • RBI projects inflation to average 5.4% in FY24, offering stability and investor confidence.
  • Food inflation remains elevated, particularly in some vegetables, pulses, spices, and fruits, requiring focused attention.

Job Market Flourishes:

  • Urban unemployment rate dropped from 7.2% to 6.6% in Q2, reflecting improving employment opportunities.
  • Net payroll additions under EPFO saw a significant 18.9% year-on-year increase in H1, indicating widespread job creation.
  • Lower exit rate from EPFO further underscores increased job security and employee satisfaction.

Revenue Collection Strong:

  • Net tax revenue jumped 11.2% to ₹13 lakh crore between April and October 2023.
  • Robust growth in corporate (17.4%) and personal income taxes (over 30%) reveals strong economic activity.
  • Consistent high GST collections throughout FY24 reflect the bustling economic atmosphere.

Trade Deficit Reduced:

  • Despite an 8.8% contraction in merchandise exports, the net service trade increased by 15.5%.
  • Overall trade deficit nearly halved to $39.9 billion in H1 compared to the previous year’s $75.3 billion.

Looking Ahead:

India’s economic prospects remain optimistic, with strong domestic demand, declining inflation, and a thriving job market fueling growth. With the government addressing issues like food inflation and trade balance, the future appears bright for the Indian economy.

Innova Captab IPO Allotment Confirmed: Check Your Status Now!

New Delhi, December 28, 2023: The much-awaited Innova Captab IPO allotment has been finalized, and eager investors can now check their status on various platforms. This pharmaceutical company’s IPO witnessed exceptional demand, being subscribed a whopping 55.26 times, a testament to investor confidence in its future.

How to Check Your Allotment:

  • IPO Registrar Portal: Visit the Kfin Technologies Ltd. portal, the official registrar for the Innova Captab IPO. Enter your PAN number or application number to access your allotment details.
  • Stock Exchange Websites: Both BSE and NSE websites offer allotment status checking. Locate the “IPO Status” section and provide your PAN or application number to view your allocation.

Reminders for Allotment Status:

  • The IPO opened for subscription on December 21st and closed on December 26th.
  • Finalization of the allotment happened on December 27th.
  • The shares are set to debut on both BSE and NSE on December 29th.

Information Available in Allotment Status:

  • Whether you have been allotted shares or not.
  • The number of shares allotted, if applicable.
  • The price at which the shares were allotted.

Next Steps for Allottees:

  • If you’ve been allotted shares, ensure sufficient funds are available in your linked bank account for payment by December 29th.
  • Depository credit of shares will occur on December 29th, allowing you to trade them once listed.

Happy Birthday, Ratan Tata! A Legend Turns 86


India celebrates the 86th birthday of a true titan of industry and philanthropy, Ratan Tata, today, December 28th. Born in Mumbai in 1937, his journey has been one of remarkable leadership, strategic vision, and unwavering commitment to social good.

From helming the Tata Group to spearheading iconic projects like the Tata Nano and Tata Indicom, Ratan Tata’s entrepreneurial spirit has not only shaped India’s economic landscape but also transformed countless lives. His dedication to innovation and accessibility has earned him the respect and admiration of millions across the globe.

Beyond his business acumen, Ratan Tata is widely recognized for his philanthropic endeavors. He has been a champion for education, healthcare, and environmental causes, dedicating significant resources to uplift marginalized communities and address critical societal challenges. His commitment to social responsibility has earned him two of India’s highest civilian honors – the Padma Vibhushan and the Padma Bhushan.

On this special occasion, we celebrate not just Ratan Tata’s achievements but also the values he embodies – integrity, humility, and a deep-seated belief in the power of human potential. His inspirational quotes, like “Ups and downs in life are very important to keep us going,” and “The biggest risk is not taking any risk,” continue to resonate with aspiring entrepreneurs and leaders.

In a world grappling with complex challenges, Ratan Tata’s legacy serves as a beacon of hope and inspiration. He reminds us that with vision, dedication, and a compassionate heart, even the most ambitious dreams can be realized.

Join us in wishing Ratan Tata a very happy birthday! May his wisdom, leadership, and unwavering commitment to making the world a better place continue to guide us for many years to come.