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In FY25, Punjab is set to experience financial challenges as its capital-to-revenue expenditure ratio is the lowest among all states, standing at just 6.2%, highlighted a research report by the <keyword id="19938957" type="General" weightage="100" keywordseo="National-Stock-Exchange" source="keywords">National Stock Exchange</keyword> (NSE). This means that for every rupee Punjab spends, a very small portion is being allocated towards capital expenditure, which is crucial for long-term <keyword id="19971350" type="General" weightage="20" keywordseo="infrastructure-development" source="keywords">infrastructure development</keyword>. In contrast, the research showed that the states like Gujarat lead the way with a much higher ratio of 36.2%, signaling a stronger focus on capital spending that can drive future growth. "The capital-to-revenue expenditure ratio, a measure of expenditure quality, is set at 20.7 % for FY25BE, declining from 21.2 % in FY24RE. Punjab has the lowest ratio at 6.2 %, while Gujarat leads at 36.2 %" said the report. The report also highlighted that the overall, capital expenditure by Indian states is expected to moderate in FY25 after three years of strong growth. It stated that the total capital spending for the fiscal year is estimated to increase by just 6.5 % to Rs 6.5 lakh crore. This is a notable slowdown compared to the sharp 39.3 % rise in FY24, which was marked by a post-pandemic push to boost infrastructure and public projects. The capital-to-revenue expenditure ratio, a key indicator of the quality of spending, is also set to decline slightly to 20.7 %in FY25 from 21.2 %in FY24, reflecting a more cautious approach by states. At the same time, revenue expenditure, which covers recurring costs like salaries, subsidies, and interest payments, is expected to grow by 8.9 % to Rs 44.2 lakh crore. This is the slowest growth in the last four years, indicating tighter control over everyday spending. "<keyword id="23614983" type="General" weightage="20" keywordseo="committed-expenditure" source="keywords">Committed expenditure</keyword> (interest payments and pensions), on the other hand, remains high, comprising about 24 % of total revenue expenditure and consuming nearly a quarter of revenue receipts" the report added. Despite this, the report noted that a large portion of revenue expenditure remains committed to non-discretionary costs. Interest payments and pensions alone account for about 24 % of total revenue expenditure and consume nearly a quarter of the revenue receipts, limiting states' flexibility in spending. Some states are more burdened than others by this committed expenditure. Punjab, Kerala, Himachal Pradesh, and Tamil Nadu have earmarked over 35 %of their revenue receipts for these fixed costs in FY25, putting additional pressure on their finances. This leaves less room for discretionary spending and makes it harder for these states to invest in development and growth-oriented projects.

Punjab's capital expenditure lowest in FY25 at 6.2% vs highest of Gujarat at 36.2%: NSE

Mumbai: Indian stock markets rallied on Monday after the <keyword id="20032950" type="General" weightage="20" keywordseo="BJP-led-government" source="keywords">BJP-led government</keyword> secured a majority in the latest state elections in Maharashtra. The <keyword id="20641216" type="General" weightage="100" keywordseo="Nifty-50" source="keywords">Nifty 50</keyword> index gained more than 1.45 per cent or 346.30 points to open at 24,253.55 points, while the BSE <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> index surged 1,076 points or 1.36 percent to open at 80,193.47 points. Experts noted that the election results have an impact on the markets today, and if past trends are followed, the markets may witness some rally amid the return of the BJP in the Maharashtra state elections. <keyword id="20161891" type="General" weightage="20" keywordseo="Ajay-Bagga" source="keywords">Ajay Bagga</keyword> Banking and Market Expert stated that "The just concluded elections in Maharashtra, the results of which were declared on November 23rd, will have a positive immediate impact on the stock markets. The landslide win for the BJP lead coalition in the Maharashtra state elections could lead to a short-term boost to the Indian stock markets which have been in a declining mode" He further added "Investors will interpret this mandate as favourable for the capex and infrastructure push that is ongoing in Maharashtra. The beneficiary sectors of this election are industrials, infrastructure, manufacturing, real estate and financials". In the sectoral indices on the National Stock Exchange, <keyword id="20065014" type="General" weightage="20" keywordseo="Nifty-Realty" source="keywords">Nifty Realty</keyword> and <keyword id="19941314" type="General" weightage="20" keywordseo="Nifty-PSU-Bank" source="keywords">Nifty PSU Bank</keyword> rallied with a surge of more than 2 percent, while other major indices also gained more than 1.5 per cent, including Nifty Metal, Nifty Media, and Nifty Oil &amp; Gas. In the Nifty 50 list, 49 stocks gained during the opening session, while only one stock declined. Shri Finance opened as the top gainer in the Nifty 50. The shares of the AdGroup also surged around 2 percent at the time of filing this report. <keyword id="19967296" type="General" weightage="20" keywordseo="Adani-Green" source="keywords">Adani Green</keyword> also climbed around 4 percent. "We are most likely to break the falling 20-day average that lies at 24,030, which will be the first time that'd happen since the record high of 27th September. Seasonality trends between now and the end of the year have been historically positive, with the Nifty rising 80% of the time during this period with an average return of over 4 per cent" Akshay Chinchalkar, Head of Research, Axis Securities. In other Asian markets, Japan and South Korea indices rallied. The Nikkei 225 index surged more than 1.5 percent, South Korea's Kospi also rose by 1.5 percent, Taiwan's Weighted Index was up by 0.48 percent, while Hong Kong's Hang Seng index was down marginally by 0.14 percent at the time of filing this report.

Nifty, Sensex rallied around 1.5 % after Maharashtra election results, Experts noted short term rally

<ul class="summary-list"><li>David Tepper is growing even more bullish on Chinese stocks amid the nation's new fiscal stimulus measures.</li><li>The new measures include interest-rate cuts, liquidity support, and encouraging company stock buybacks.</li></ul>It's a buy "everything" moment for Chinese stocks after the country <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-stock-market-bazooka-liquidity-stimulus-sparks-panic-speculation-2024-9">launched a fiscal stimulus bazooka this week</a>, according to billionaire investor David Tepper.In an interview with CNBC on Thursday, Tepper outlined his bull case for China's stock market, which has been practically left for dead in recent months as it trades at the same level it did in 2007."I thought that what the Fed did last week would lead to China easing, and I didn't know that they were going to bring out the big guns like they did," Tepper said, referring to the Federal Reserve's <a target="_blank" class="" href="https://www.businessinsider.com/fed-cuts-interest-rates-how-much-september-fomc-powell-inflation-2024-9">jumbo 50-basis point interest rate cut last week.</a>That big cut is giving China's central bank some breathing room in implementing its own fiscal and monetary stimulus policies, according to Tepper.In recent days, China has cut key interest rates, announced liquidity support for its stock market, lowered bank reserve requirements, and even encouraged company stock buybacks."Encouraging buybacks of stocks. Ok, this is China. This is stock buybacks. Not only encouraging it, lending you money to do it," Tepper said.He added: "I took it that they did a lot, they exceeded expectations, and he promised to do more and more and more, and that's very strange language, especially for any central banker, but especially over there," referring to <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-aggressive-monetary-stimulus-interest-rate-rrr-2024-9">recent dovish comments</a> from People's Bank of China governor Pan Gongsheng.Chinese stocks have responded to the stimulus measures with big moves higher. On Thursday, shares of large-cap China tech stocks like <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/baba-stock">Alibaba</a>, <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/pdd-stock">PDD Holdings</a>, and <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/tctzf-stock">Tencent Holdings</a> surged more than 7%.Even the broader <a target="_blank" class="" href="https://markets.businessinsider.com/etfs/ishares-msci-china-etf-us46429b6719?miRedirects=1">iShares MSCI China ETF</a> soared 8% on THursday and is up more than 16% this week alone.But Tepper believes Chinese stocks have plenty of room to run higher, even after the recent surges."Even with the recent moves they're like on a flat-line low compared to where they have been in the past. And you're sitting there with single multiple PEs, with double-digit growth rates for the big stocks that trade over here," Tepper said.As to whether steep tariffs from a potential Donald Trump Presidency would shake his bullish view on China, Tepper said it probably wouldn't matter because of the "internal stimulus" measures."Obviously this is incredibly good for very undervalued Chinese equities, especially when the government is encouraging buybacks," Tepper said.On US markets, Tepper said he is not following his buy "everything" mantra with Chinese stocks and is being more selective in buying US stocks.Tepper, who runs the $6 billion hedge fund Appaloosa Management, highlighted US casinos that have exposure to China, like <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/wynn-stock">Wynn Resorts</a> and <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/lvs-stock">Las Vegas Sands</a>, as well as companies that are exposed to the power demand of the AI tech trade as potential buys."I don't love the US markets on a value standpoint, but I sure as heck won't be short, because I'd be nervous as heck of the setup with easing money everywhere, a relatively good economy, and China just doing massive stimulus coming in, so it would make me nervous not to be somewhat long the US," Tepper said.He added: "You can't be short the US."Tepper's biggest position as of June 30 was Alibaba, which made up 12% of his portfolio. He hinted that he's buying more of the stock."I have limits. I probably said a long time ago I don't go above 10% or 15%, well that's probably not true anymore," Tepper said.Tepper also owns shares of PDD Holdings, Baidu, the KraneShares China Internet ETF, and JD.com.As to how Tepper is hedging his bullish China trade, as some might expect a hedge fund to do, he's not."My counter bet is that I don't care," Tepper said.

Hedge fund billionaire David Tepper says he's loading up on Chinese stocks after the nation's stimulus bazooka

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Punjab's capital expenditure lowest in FY25 at 6.2% vs highest of Gujarat at 36.2%: NSE

ANI

Nifty, Sensex rallied around 1.5 % after Maharashtra election results, Experts noted short term rally

ANI

Hedge fund billionaire David Tepper says he's loading up on Chinese stocks after the nation's stimulus bazooka

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