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<keyword id="19955404" type="General" weightage="20" keywordseo="finance" source="keywords">Finance</keyword> Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> decided to stick to the path of fiscal consolidation path as she pushed for economic growth and inclusive development in the <keyword id="19906106" type="General" weightage="20" keywordseo="interim-budget" source="keywords">interim Budget</keyword> 2024-25 presented in <keyword id="19895397" type="General" weightage="20" keywordseo="parliament" source="keywords">Parliament</keyword> on Thursday. The Finance Minister has reduced the fiscal deficit target to 5.1 per cent of GDP for 2024-25 while increasing the government's capital expenditure on big infrastructure projects to push the economic growth rate. This has been made possible due to the robust increase in tax collections in a fast-growing economy. The allocation for big infrastructure projects to be taken up in 2024-25 has been raised to Rs 11.1 lakh crore which is an 11.1 per cent increase over the previous year. The gross market borrowing of the government has been fixed at Rs 14.13 lakh crore while the net market borrowing is proposed at RS 1.75 lakh crore which is lower than the corresponding figure for 2023-24. "Lower market borrowings by the government will leave more funds for private sector corporates to get loans for investment which will accelerate the country's economic growth further," the Finance Minister said in her Interim Budget speech. The Interim Budget has also created a corpus of Rs 1 lakh crore for a 50-year interest-free loan for the farm sector. The Finance Minister said that she was making any changes in the direct or indirect tax rates in the interim budget. <keyword id="19916494" type="General" weightage="20" keywordseo="sitharaman" source="keywords">Sitharaman</keyword> said that the Indian economy has witnessed a transformational change and fruits have development have started reaching people at a mass scale. "The Modi government's polcy of inclusive development and growth is a deliberate departure from the past governments. Housing water electricity, bank accounts cooking gas have been provided for all. Worries of food have been eliminated with free food for 83 crore people and real incomes have increased," she said. She said the government was committed to social justice with all-round development that would improve the capability of the people and empower them. "Social justice is a necessary model and the government's saturation approach reflects secularism in action that prevents corruption and nepotism. Opportunity for all. Systemic inequality is being addressed for social transformation," she said. Top priority is being given to empower four segments that include the poor, women, youth and farmers for the support of the government, she added. SEE ALSO:<a href="https://www.businessinsider.in/finance/news/interim-budget-2024-speech-updates-and-highlights/articleshow/107313296.cms" target="_blank"></a> <a href="https://www.businessinsider.in/finance/news/interim-budget-2024-speech-updates-and-highlights/articleshow/107313296.cms" target="_blank">Interim Budget 2024: FY25 capex hiked 11%; no tax relief, says FM Sitharaman</a><a href="https://www.businessinsider.in/stock-market/news/interim-budget-sensex-nifty-open-in-the-green-as-investors-await-blueprint-of-intent/articleshow/107311960.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/interim-budget-sensex-nifty-open-in-the-green-as-investors-await-blueprint-of-intent/articleshow/107311960.cms" target="_blank">Interim Budget: Sensex, Nifty trade flat as FM’s speech concludes</a><a href="https://www.businessinsider.in/stock-market/markets/news/interim-budget-2024-reactions-by-market-experts-and-economists/articleshow/107318778.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/markets/news/interim-budget-2024-reactions-by-market-experts-and-economists/articleshow/107318778.cms" target="_blank">From research funding to positive fiscal deficit surprise – market watchers, economists praise Interim Budget 2024</a>

Interim Budget hikes outlay on big infra projects to Rs 11.1 lakh crore, cuts fiscal deficit to 5.1% of GDP

India Infrastructure Finance Company Ltd (IIFCL) on Wednesday reported a 44 per cent jump in standalone <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> to Rs 1,552 crore for the fiscal ended March 2024 aided by an increase in <keyword id="20107418" type="General" weightage="20" keywordseo="lending" source="keywords">lending</keyword> and moderation in <keyword id="19936329" type="General" weightage="20" keywordseo="bad-loans" source="keywords">bad loans</keyword>. The state-owned infrastructure finance company had earned a net profit of Rs 1,076 crore in the previous fiscal. The company recorded the <keyword id="20025887" type="General" weightage="20" keywordseo="highest-ever" source="keywords">highest-ever</keyword> profit, recovery, sanction and disbursement furthering turnaround performance that began three years ago, IIFCL managing director PR Jaishankar said while announcing annual financial numbers. He said, for the first time, the profit before tax has crossed Rs 2,000 crore. During the year, profit before tax has increased to Rs 2,029 crore as against Rs 1,076 crore in the previous year. The company continued to add value as its net worth increased 11 per cent to Rs 14,266 crore in 2023-24 from Rs 12,878 crore in the preceding fiscal. During the year, he said, the company posted record performance with the highest-ever sanctions and disbursements at Rs 42,309 crore and Rs 22,356 crore, respectively. The cumulative sanctions and disbursements stood at Rs 2.5 lakh crore and Rs 1.28 lakh crore, respectively, as of March 31, 2024. Going forward, he said, the company has significant scope to further improve loan growth and expects to grow at 16-18 per cent. To fund business growth, he said the company plans to raise over Rs 30,000 crore during the current financial year. With regard to asset quality, IIFCL has brought down gross Non-Performing Assets (NPAs) to 1.61 per cent from 4.76 per cent a year ago. The net NPA of the company too declined to 0.46 per cent from 1.41 per cent in the year-ago period. During the current year, he said, the net NPA would be either zero or nearly zero. The Provision Coverage Ratio (PCR) in the last fiscal increased to 71.51 per cent from 70.48 per cent, Jaishankar said. IIFCL has funded close to 760 infra projects worth Rs 14 lakh crore till March 2024. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/virat-kohli-backed-go-digit-ipo-subscription-opens-today-all-you-need-to-know/slidelist/110137661.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/virat-kohli-backed-go-digit-ipo-subscription-opens-today-all-you-need-to-know/slidelist/110137661.cms" target="_blank">Virat Kohli-backed Go Digit IPO subscription opens today — all you need to know</a><a href="https://www.businessinsider.in/business/auto/news/tvs-iqube-gets-a-new-variant-priced-under-1-lakh-st-variant-gets-a-bigger-battery/articleshow/110121391.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/tvs-iqube-gets-a-new-variant-priced-under-1-lakh-st-variant-gets-a-bigger-battery/articleshow/110121391.cms" target="_blank">TVS iQube gets a new variant priced under ₹1 lakh, ST variant gets a bigger battery</a><a href="https://www.businessinsider.in/tech/mobile/news/qualcomm-snapdragon-8s-gen-3-chipset-to-debut-in-india-with-the-poco-f6/articleshow/110115537.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/qualcomm-snapdragon-8s-gen-3-chipset-to-debut-in-india-with-the-poco-f6/articleshow/110115537.cms" target="_blank">Qualcomm Snapdragon 8s Gen 3 chipset to debut in India with the Poco F6</a>

IIFCL profit rises 44% to highest-ever of ₹1,552 crore in FY24

A corpus of Rs 1 lakh crore will be established with 50-year interest free loans to encourage the private sector to scale up research and innovation in sunrise domains, Union Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> announced on Thursday. Presenting the interim Budget 2024-25, Sitharaman said this will be a golden era for India's tech savvy youth. "A corpus of Rs 1 lakh crore will be established with 50-year interest free loan. The corpus will provide long-term financing or refinancing with long tenures and low or nil interest rates," the minister said. "This will encourage the private sector to scale up research and innovation significantly in sunrise domains. We need to have programmes that combine the powers of our youth and technology," she added. EV stocks rally Shares of companies related to the electric vehicle segment jumped on Thursday after the announcement that the government will expand the electric vehicle ecosystem to support charging infra, and e-buses for public transport networks will be encouraged. The stock of Olectra Greentech jumped 6.21% to reach its 52-week high of Rs 1,849.25 on the BSE. JBM Auto climbed 4.96% to hit its one-year peak of Rs 2,010.80. Greaves Cotton went up by 3% to the day's high of Rs 168.55. The government will expand the electric vehicle ecosystem to support charging infra, and e-buses for public transport networks will be encouraged, Finance Minister Nirmala Sitharaman said on Thursday. Sitharaman, in her pre-election Budget, which is technically a vote on account and popularly termed an interim Budget, also said the blending of compressed biogas into compressed natural gas for transport and piped natural gas will be mandatory. Biomanufacturing and bio foundry scheme will be launched to provide environment-friendly alternatives for bio-degradable production, she added.

Corpus of Rs 1 lk cr to scale up research in sunrise domains: FM Sitharaman

India will spend nearly Rs 143 lakh crore on infrastructure between fiscals 2024 and 2030, more than twice the Rs 67 lakh crore spent in the past seven financial years starting 2017, rating agency Crisil said on Tuesday. Of the total, Rs 36.6 lakh crore will be green investments, marking a five times rise compared with the amount spent during fiscals 2017-2023, it added. "India's infrastructure spending will double to Rs 143 lakh crore between fiscals 2024 and 2030, compared with 2017-2023," Crisil said in its Infrastructure Yearbook 2023. Crisil Ltd managing director and CEO Amish Mehta said the agency expects India's gross domestic product to grow at an average 6.7% through fiscal 2031 to be the fastest-expanding large economy. "Per capita income is seen rising from USD 2,500 now to USD 4,500 by fiscal 2031, creating a middle-income country," he said, adding that this growth will be underpinned by massive all-round infrastructure development, with sharp focus on integrating sustainability." While releasing '<keyword id="19169539" type="General" weightage="20" keywordseo="crisil-infrastructure-yearbook-2023" source="Orion">CRISIL Infrastructure Yearbook 2023</keyword>', which includes a unique national index CRISIL InfraInvex, Mehta said policy interventions and a conducive investment climate have aided the uptrend in the CRISIL InfraInvex scores across sectors. "Four of these -- roads and highways, power transmission, renewable energy and ports -- have an overall score of 7-plus (out of 10), which underscores the pace of reforms and developments of the past few years," he added. The rating agency noted that the next phase of infrastructure development will be marked by growth in the average ticket size of projects and a significant number of mega-scale projects. Appropriate and consistent policy and regulatory interventions and focus on timely execution build an attractive case for various stakeholders to accelerate investments across infrastructure sectors, Crisil said. The renewable push The rating agency predicted that prominent sectors such as roads and power are expected to remain major contributors, while relatively nascent ones such as <keyword id="312660" type="General" weightage="20" keywordseo="EVs" source="Orion">EVs</keyword>, solar, wind, and hydrogen will pick up pace. "The share of EVs in India's overall automobile sales is likely to reach 30% by 2030. "Two-wheeler EV sales are expected to outpace other segments up to 2028, while demand for EV buses will be driven by state transport undertakings," it said. According to Crisil, favourable total cost of ownership and total cost of acquisition, as well as model availability for two- and three-wheelers will support EV offtake in coming years. It said the share of renewable energy in total capacity is estimated to grow 4x between fiscals 2023 and 2030. While solar will account for half of the incremental non-fossil generation, Crisil said there is a growing need to leverage emerging technologies such as 'floatovoltaics' (floating solar), offshore wind technology and green hydrogen. Noting that the hydrogen sector is poised to attract substantial investments, estimated at Rs 1.5 lakh crore between fiscals 2024 and 2030, the rating agency said mandates for green hydrogen use and incentive schemes will be important here considering the cost of production of green hydrogen is twice that of fossil-based hydrogen. Crisil said India's first sovereign green bond issuance will pave the way for the development of the domestic bond market for green issuances. Over the past few years, global experience has shown increasing appetite for green assets among investors, leading to Indian companies seeking funds in global markets, it added.

India's infra spending to ride EV, solar, wind and hydrogen push

<ul><li>A good way to assess an old mutual fund is by tracking their performance over 5-20 years, say experts.</li><li>Funds like <keyword id="15355709" type="General" weightage="20" keywordseo="sundaram-midcap-fund" source="Orion">Sundaram Midcap Fund</keyword>, <keyword id="13357754" type="General" weightage="20" keywordseo="nippon-india-growth-fund" source="Orion">Nippon India Growth Fund</keyword>, <keyword id="12834265" type="General" weightage="20" keywordseo="quant-active-fund" source="Orion">Quant Active Fund</keyword> and more have given over 16% returns per annum for the last twenty years.</li><li>An investor who had done an SIP for ₹10,000 for 20 years in any of the top ten best rewarding old funds, would now be sitting on over ₹1.5 crore. </li></ul>India now has 40 million people who invest in mutual funds. If you’re not one of those, and want to err on the side of caution, you can choose funds that demonstrated a good run for over 20 years. According to a report by <keyword id="112363" type="General" weightage="80" keywordseo="value-research" source="Orion">Value Research</keyword>, ten mutual fund schemes have stood the test of time. Funds like Sundaram Midcap Fund, Nippon India Growth Fund, Quant Active Fund and more have given over 16% returns per annum for the last twenty years. “Some investment funds have weathered significant challenges including the 2008 subprime crisis, the 2013 taper tantrum, and the 2020 Covid induced lockdown,” said the Value Research report. It adds that while even very successful funds failed during the times, but a few of these ‘golden oldies’ survived the crises to give positive returns to their investors. The key to identifying such funds, Value Research says, is to track their long-term performance over 5-20 years. An investor who had done a systematic investment plan (SIP) for ₹10,000 for 20 years in any of these funds, would now be sitting on over ₹1.5 crore. If the investors would have increased their SIP amounts by 10% per annum, they would be sitting over ₹2.7 crore. Here are the most rewarding old funds picked by the investment advisory and MF data firm. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Name of the fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rating </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20 year returns per annum </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sundaram Midcap Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mid Cap </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">** </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.85% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nippon India Growth Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mid Cap </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">**** </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.85% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quant Active Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Multi Cap </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Midcap Growth Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mid Cap </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">*** </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.97% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quant Small Cap Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Small Cap </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">**** </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.81% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Large &amp; Midcap Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Large &amp; Mid Cap </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">***** </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.67% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Franklin India Prima Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mid Cap </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">** </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.53% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Flexi Cap Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Flexi Cap </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">***** </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.31% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Contra Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value Oriented </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">***** </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.25% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Canara Robero Equity Tax Saver Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ELSS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">**** </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.19% </td></tr></tbody></table>Source: Value Research The value behind SIPs Investors in India have matured over time and they are now leaning a lot more on SIPs, which have become a mainstay of retail flows into mutual funds. In September, inflows into SIPs hit an all-time high of ₹16,042.06 crore, according to Association of Mutual Funds of India (AMFI). It also said that the cumulative Assets Under Management (AUM) for the mutual fund industry stood at ₹46.58 lakh crore as of September end. Apart from pushing investors to bring discipline into their investments, SIPs also automates investing providing convenience with stress-free investing. “Increasing your SIP contributions in line with the rise in your earnings can magically grow your wealth. You can do this annually by increasing your SIP amount,” says a note by Value Research. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/pipe-dream-should-you-invest-in-these-infra-stocks-that-have-delivered-50-returns/articleshow/104568627.cms">Pipe Dream: Should you invest in these infra stocks that have delivered 50% returns?</a> <a href="https://www.businessinsider.in/business/news/wipro-ceo-expects-revenues-to-rebound-in-the-next-few-quarters/articleshow/104541778.cms">Wipro CEO expects revenues to rebound in the next few quarters</a>

Golden Oldies: The mutual fund schemes that have stood the test of market cycles over 20 years

New Delhi, The Central government will infuse equity of ₹6,000 crore into the <keyword id="2354056" type="ORGANIZATION" weightage="20" keywordseo="national-investment">National Investment</keyword> and Infrastructure Fund (NIIF) Debt Platform, subject to certain conditions, <keyword id="3466084" type="COMPANY" weightage="20" keywordseo="the-union-cabinet">the Union Cabinet</keyword> decided on Wednesday. The platform comprises of Aseem Infrastructure Finance Ltd (AIFL) and NIIF Infrastructure Finance Ltd (NIIF-IFL). On November 12, Union Finance Minister Nirmala Sitharaman had proposed the move under the twelve key measures made by as part of the government's stimulus to the economy, under 'AatmaNirbhar Bharat 3.0'. According to an official communique, the infusion will take place subject to certain conditions. "That only ₹2,000 crore would be allocated during the current year 2020-21. However, in view of the unprecedented financial situation and availability of limited fiscal space due to the prevailing Covid-19, the proposed amount may be disbursed only if there is readiness and demand for debt raising," it said. "NIIF will take all necessary steps to use the equity investments from domestic and global pension funds and sovereign wealth funds expeditiously." The ₹ 6,000 crore will be invested as equity in the 'NIIF Debt Platform' over two financial years, 2020-21 and 2021-22. The 'Debt Platform' comprising an '<keyword id="10331887" type="COMPANY" weightage="20" keywordseo="nbfc-infra-debt-fund">NBFC Infra Debt Fund</keyword>' and an '<keyword id="10331888" type="COMPANY" weightage="20" keywordseo="nbfc-infra-finance-company">NBFC Infra Finance Company</keyword>' was set up by <keyword id="10331886" type="COMPANY" weightage="20" keywordseo="niif-strategic-opportunities-fund">NIIF Strategic Opportunities Fund</keyword>. The NIIF, through its SOF, owns a majority position in both the companies and has already invested ₹1,899 crore across the platform. The current proposal sought the government's direct investment to further scale the potential and impact of the two entities in the infrastructure debt financing space. "This will also support the efforts of the platform to raise international equity. With the fresh infusion of equity by the government, besides the equity already infused by NIIF SOF and potential equity participation from the private sector, the debt platform is expected to raise enough resources to extend debt support of ₹1,10,000 crore to projects by 2025," the communique said. As per the 'National Infrastructure Platform', investment in infrastructure sector is targeted at ₹111 lakh crore over the next 5 years across various sub-sectors, creating substantial need for debt financing.

Government approves equity infusion of ₹6,000 crore in NIIF debt platform over two years

<ul><li>The government of India has decided to set up a dedicated fund for agritech startups.</li><li>The finance minister also mentioned that the government intends to pay ₹2.7 lakh crore worth of MSP.</li><li>Like other sectors, the finance ministry has also proposed to further incorporate drones into the agriculture sector.</li></ul>The government of India has decided to set up a dedicated fund for agritech startups, Finance Minister Nirmala Sitharaman said while announcing the union budget for the year 2022-23. “A fund with blended capital, raised under the co-investment model, will be facilitated through NABARD. This is to finance startups for agriculture &amp; rural enterprise, relevant for farm produce value chain. The activities for these startups will include, inter alia, support for FPOs, machinery for farmers on rental basis at farm level, and technology including IT-based support,” Sitharaman said. The finance minister also mentioned that the government intends to pay ₹2.7 lakh crore worth of minimum support price (MSP) direct payments to wheat and paddy farmers. Besides this, the government is also looking to deploy drones for agriculture monitoring, crop assessment, digitisation of land records and spraying of insect pesticides. The share price of Zen Technologies — a publicly listed company that works on drone detection, classification and tracking — <a href="https://stocktwits.com/Dhwani1105/message/432213049">spiked </a>after the Sitharaman made this announcement. <div type="image" title="Dhwani Agri post" msid="89278267" hostid="261"></div> While the company doesn’t have agricultural operations, the spike of its shares was related to the wider scope of drones. “Startups will be promoted to facilitate Drone Shakti through varied applications and for a drone as a service," Sitharaman added. “The budget has covered multiple avenues for the drone industry to rise, the focus on promoting Agricultural Drones and the NABARD fund to support startups will result in ensuring that the Drone Industry reaches a new milestone. The development of 100 new cargo terminals in the next 3 years will also add to the growth of Drones enabled for cargo deliveries within the terminals and terminals to delivery locations,” Swapnik Jakkampuddi, cofounder of Skye Air Mobility, said. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/economic-survey-2022-highlights-that-delhi-not-bengaluru-is-the-startup-capital-of-india/articleshow/89249128.cms">Delhi, not Bengaluru, is the startup capital of India, says Economic Survey</a> <a href="https://www.businessinsider.in/budget/news/indias-defence-budget-allocation-as-per-experts/slidelist/89250030.cms" data-type="tilCustomLink">Allocation for India's defence may see a nominal increase</a> <a href="https://www.businessinsider.in/budget/news/the-government-is-expected-to-announce-1-3-lakh-crore-for-railways-under-the-national-infrastructure-pipeline/articleshow/89256692.cms" data-type="tilCustomLink">The government is expected to announce ₹1.3 lakh crore for railways under the national infrastructure pipeline</a>

A fund for agritech startup, inclusion of drones to boost Indian farming

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<ul><li>Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> on May 18 announced the last tranche of the ₹20 lakh crore stimulus package. </li><li>The economic stimulus package included measures like free food grains, hike in foreign direct investment for defence, liquidity measures for MSMEs, amended in Essential Commodities Act, increase in public expenditure in health, among others. </li><li>While the Narendra Modi government promised to allocate 10% of the GDP, the Reserve Bank of India’s measures accounts for nearly half the economic package. </li></ul>Finance Minister Nirmala Sitharaman on May 18 announced the last tranche of the ₹20 lakh crore Atma Nirbhar Bharat Abhiyan economic package to fight the coronavirus pandemic led economic slowdown in the country. However, while the Narendra Modi government promised to allocate 10% of the GDP, nearly half of the stimulus package is spent by the Reserve Bank of India. Global investment bank <keyword id="6361649" type="UNKNOWN" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> said that most of the reforms announced by the Indian government will have an impact in the medium term while the short term may see a "deeper recession", and added that the country's real GDP growth may fall 5% in the current financial year ending March 2020. The economic stimulus package included measures like free food grains, hike in foreign direct investment for defence, liquidity measures for MSMEs, amendments in Essential Commodities Act, increase in public expenditure in health, among others. Whereas, the RBI package included measures like moratorium on loan repayments for all borrowers,and interest rate cut etc. “RBI has announced ₹9 lakh crore plus, but the actual money utilised (so far) is ₹8 lakh crore,” FM Nirmala Sitharaman said while explaining the break-up of the stimulus package. PM Narendra Modi said the package was <a href="https://www.businessinsider.in/india/news/pm-modi-promises-to-please-everyone-with-his-stimulus-package/articleshow/75701113.cms">designed keeping in mind</a> factors like land, labour, liquidity and laws. Here’s a breakdown of India’s ₹20 lakh crore stimulus package: <div type="image" title="overall" msid="75798397" hostid="261"></div> The first tranche worth ₹5.94 lakh crore provided a credit line to small businesses and support to shadow banks and electricity distribution companies <div type="image" title="tranche 1" msid="75798413" hostid="261"></div> There <a href="https://www.businessinsider.in/policy/economy/news/breaking-down-modi-20-lakh-crore-stimulus-rbi-and-finance-ministry-steps-land-and-labour-laws/articleshow/75709001.cms">were 15 measures,</a> of which 6 were for MSMEs. The definition of SMEs was changed and the investment limit to qualify as MSMEs was raised. During the first tranche, Sitharaman announced ₹3 lakh crore collateral-free automatic loans for businesses. Apart from this, the government also increased the deadline for<a href="https://www.businessinsider.in/business/news/benefits-for-real-estate-sector-in-finance-minister-20-lakh-crore-stimulus-package/articleshow/75719588.cms"> real estate projects. </a> The second tranche included free foodgrains to stranded migrant workers for two months and credit to farmers, totalling ₹3.10 lakh crore <div type="image" title="tranche 2" msid="75798427" hostid="261"></div> There were <a href="https://www.businessinsider.in/policy/economy/news/finance-minister-nirmala-sitharaman-top-news-and-highlights-may-14/articleshow/75736580.cms">nine announcements in all in the second tranch</a>e of the stimulus package which focussed on migrant workers, small traders, small farmers etc. The government announced free food grain supply to migrant workers for 2 months. A National portability of ration cards — One Nation, One Ration card — was announced which allowed people to take ration from any public distribution unit in the country. The third tranche was worth ₹1,50,000 crore and focused on farming and related activities <div type="image" title="tranche 3" msid="75798441" hostid="261"></div> Sitharaman promised to allocate money and quickly ramp up policies in these spaces. The government allocated ₹1 lakh crore to strengthen farm-gate infrastructure. The government said the Essential Commodities Act <a href="https://www.businessinsider.in/policy/economy/news/finance-minister-nirmala-sitharaman-live-updates-from-third-tranche-modi-20-lakh-crore-stimulus/articleshow/75756781.cms">will be amended</a> to deregulate prices of cereals, edible oils, oilseeds, pulses, onions, potatoes etc. <a href="https://www.businessinsider.in/policy/economy/ashok-gulati-interview-on-essential-commodities-act-and-apmc-changes/articleshow/75760364.cms">According to Ashok Gulati</a>, former chairman of Commission of Agricultural Costs and Prices (CACP), this will allow market prices to prevail over essential commodities. The government also removed stock limit imposed on processors or value chain participants or any exporter subject to export demand, The fourth and fifth tranches that dealt mostly with structural reforms were worth ₹48,100 crore <div type="image" title="tranche 4 and 5" msid="75798458" hostid="261"></div> The <a href="https://www.businessinsider.in/policy/economy/news/finance-minister-nirmala-sitharaman-live-updates-from-third-tranche-modi-20-lakh-crore-stimulus/articleshow/75756781.cms">reform</a>s focused on coal, minerals, defence production, civil aviation, power distribution in Union Territories, space and atomic energy. India opened up more of its airspace for airlines, and also decided to put 6 airports up for auction. The government said<a href="https://www.businessinsider.in/stock-market/news/indigo-spicejet-adani-gmr-gvk-share-price-may-gain-after-civil-aviation-reforms/articleshow/75775888.cms"> airlines will fly on shorter routes</a> which would save ₹1,000 crore a year. Separately, the government allowed startups in the space sector to use resources of Indian Space Research Organisation. In the fifth <a href="https://www.businessinsider.in/policy/economy/news/finance-minister-nirmala-sitharaman-final-stimulus-plan-to-boost-gdp-of-india/articleshow/75784571.cms">tranche the government added ₹40,000 crore budget allocation</a> in the Mahatma Gandhi Rural Employment Guarantee Act (MNREGA). However, according to a financial services company Nomura, the minimum wage job may be a temporary relief and once the lockdown is over, urban businesses will struggle with the shortage of labour. Several experts have criticised the government’s latest economic package and said it is inadequate to provide immediate relief to the distressed part of the society. “The package may fall short of mitigating the near-term existential crisis for businesses and workers, but is better designed to improve India’s medium-term growth potential and attract long-term risk capital. As a consequence, we maintain our GDP growth projection for 2020 at -5% y-o-y,” Noaura, a global market research firm said. SEE ALSO: <a href="https://www.businessinsider.in/india/news/india-among-58-nations-questioning-who-on-covid-19-response/articleshow/75797251.cms">India among 58 nations questioning WHO on COVID-19 response</a> <a href="https://www.businessinsider.in/india/news/lockdown-4-0-india-issues-new-guidelines-allowing-states-to-decide-the-red-green-and-orange-zones/articleshow/75790707.cms">Lockdown 4.0 ⁠— India issues new guidelines allowing states to decide the red, green, and orange zones</a>

Here's a breakup of Narendra Modi's ₹20 lakh crore stimulus⁠— RBI measures make up for nearly half of it

New Delhi, Jan 1 () As many as 388 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns of more than Rs 4 lakh crore owing to delays and other reasons, according to a report.
 The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above.
 Of such 1,636 projects, 388 projects reported cost overruns and 563 projects time escalation.
 "Total original cost of implementation of the 1,636 projects was Rs 19,52,524.85 crore and their anticipated completion cost is likely to be Rs 23,53,108.80 crore, which reflects overall cost overruns of 4,00,583.95 crore (20.52 per cent of original cost)," the ministry's latest report for October 2019 said.
 According to the report, the expenditure incurred on these projects till October 2019 is Rs 10.32 lakh crore, which is 43.86 per cent of the anticipated cost of the projects.
 However, it said the number of delayed projects decreases to 490 if delay is calculated on the basis of the latest schedule of completion.
 Further, it said that for 720 projects, neither the year of commissioning nor the tentative gestation period has been reported.
 Out of the 563 delayed projects, 185 projects have overall delay in the range of 1 to 12 months, 123 projects in the range of 13 to 24 months, 136 projects reflect delay in the range of 25 to 60 months and 119 projects show delay of 61 months and above.
 The average time overrun in these 563 delayed projects is 38.74 months.
 The brief reasons for time overruns, as reported by various project implementing agencies, are delays in land acquisition, forest clearance and supply of equipment.
 Besides, there are other reasons like fund constraints, geological surprises, geo-mining conditions, slow progress in civil works, shortage of labour, inadequate mobilisation by the contractor, Maoist problems, court cases, contractual issues, ROU/ROW (right of use/right of way) problems, law and order situation, among others, the report said.
 It also observed that project agencies are not reporting revised cost estimates and commissioning schedules for many projects, indicating that time or cost overrun figures are under-reported. KKS HRS

Infra projects' cost overrun crosses Rs 4-lakh crore mark

New Delhi, Dec 22 () As many as 377 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns of more than Rs 3.94 lakh crore owing to delays and other reasons, according to a report.
 The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above.
 Of such 1,635 projects, 377 projects reported cost overruns and 565 projects time escalation.
 "Total original cost of implementation of the 1635 projects was Rs 19,47,462.67 crore and their anticipated completion cost is likely to be Rs 23,41,784.84 crore, which reflects overall cost overruns of Rs 3,94,322.17 crore (20.25 per cent of original cost)," the ministry's latest report for September 2019 said.
 According to the report, the expenditure incurred on these projects till September 2019 was Rs 9,96,613.94 crore, or 42.55 per cent of the anticipated cost of the projects.
 However, it said the number of delayed projects decreases to 495 if delay is calculated on the basis of the latest schedule of completion.
 Further, it said that for 693 projects neither the year of commissioning nor the tentative gestation period has been reported.
 Out of 565 delayed projects, 182 projects have overall delay in the range of 1 to 12 months, 129 projects 13 to 24 months, 140 projects reflect delay in the range of 25 to 60 months and 114 projects show delay of 61 months and above.
 The average time overrun in these 565 delayed projects is 38.41 months.
 The brief reasons for time overruns, as reported by various project implementing agencies, are delays in land acquisition, forest clearance and supply of equipment.
 Besides, there are other reasons like fund constraints, geological surprises, geo-mining conditions, slow progress in civil works, shortage of labour, inadequate mobilisation by the contractor, Maoist problems, court cases, contractual issues, ROU/ROW (right of use/right of way) problems, law and order situation, among others, the report said.
 It also observed that project agencies are not reporting revised cost estimates and commissioning schedules for many projects, which suggests that time/cost overrun figures are under-reported. KKS
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