1 Minute News | 30 November 2024
 India’s Q2 GDP growth slumps to 5.4%, lowest since Q3FY23! Falling short of the 6.5% projection, the growth dampens despite RBI has retained its GDP growth forecast for the fiscal year at 7.2% |
| India’s core sector growth picks up to 3.1% in October! Driven by coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity, the growth improves from 2.4% in September, signalling stronger industrial performance. |
| India’s fiscal deficit narrows to ₹7.51 trillion in April-October: Down from ₹8.04 trillion last year, the drop is attributed to an RBI dividend and lower capex, even as tax receipts stayed flat, per CGA data. |
| Insurance stocks soar! The Finance Ministry proposes raising the FDI limit in the insurance sector to 100%, up from the current 74%. |
| Zomato raised ₹8,500 crore via QIP since its 2021 IPO! Priced at ₹252.62 per share with a nearly 10% discount, the funds aim to strengthen its balance sheet and drive growth initiatives, with the stock in the spotlight as it debuts in NSE F&O today. |
| India issues $1.4 billion tax notice to Volkswagen! The automaker is accused of wilfully underpaying import duties on components for Audi, VW, and Skoda cars. |
| Unsold renewable energy despite soaring demand! Nearly 30 GW of green power remains unsold because buyers prefer cheaper tariffs from newer projects and avoid older, costlier power. The Uniform Renewable Energy Tariff (URET) could solve this, but it’s not yet implemented. Expert opinion: “URET will help because discoms tend to postpone signing of PPAs expecting that the tariffs discovered will come down further. It will help create a more equitable renewable energy market in India.” |
| 50 million Australian dollars fine! Australia bans kids under 16 from social media platforms like TikTok, Instagram, and Facebook. Companies that fail to comply could face hefty fines as the law comes into effect by the end of 2025. |
