Business
`India on the verge of capex recovery’
India is on the verge of a new capital expenditure cycle recovery with the central government spending big on infrastructure, said Prabhudas Lilladhar, a financial services player.
In its latest report, Prabhudas Lilladher said there will be a big capex cycle recovery in India in the coming few years as the private sector capex is showing signs of revival.
Even though the Central government is spending big on infrastructure, there has not been industry led capex cycle, the report added.
According to Prabhudas Lilladher, the FY23 budget has increased the capex plans of the Centre by 10.6 per cent to Rs 12.2 trillion.
The National Infrastructure Pipeline (NIP) worth Rs 11,000 billion and resolve to provide amenities like roads, drinking water and housing will keep the Centre’s capex high.
The productivity linked incentive (PLI) worth Rs 2,000 billion across 14 sectors and benefits from China plus one in Specialty chemicals, Textiles and others will revive capex, the report added.
Similarly capex by the steel, cement, textiles, oil and gas and other sectors will push the capex higher.
According to the report, a strong demand in 2Q of the current fiscal is expected given early Diwali and sustained pent upAdemand from urban middle class in discretionary segments.
3Q will benefit from improvement in margins given that cost pressures are abating as most Agri commodities (led by Palm Oil) have corrected to March levels and crude has softened from recent highs by 30-40 per cent.
In addition, prices of steel, aluminium, copper and others have seen corrections of 52 per cent, 38 per cent and 25 per cent from the peak.
Global supply chain seems to be in better shape and semiconductor shortage appears to be ebbing now.
“We expect strong growth in corporate profitability in 2Q and 3Q which would support markets. Any revival of rural demand would be an icing on the cake,” Prabhudas Lilladher report notes.
However, the rural demand has failed to pick up so far despite strong prices as higher costs for inputs, deficient rains in large states and a volatile environment is impacting the sentiments.
Decline in acreage in key crops like paddy and oilseeds can impact food inflation in coming quarters.
Festival demand from urban middle class is expected to remain strong, which will enable good 2Q and 3Q will show benefits of correction in commodities.
Business
7.8 pc GDP growth reflects country’s progress: Maha CM Fadnavis, Dy CM Shinde

Mumbai/Thane, Sep 1: Maharashtra Chief Minister Devendra Fadnavis and Deputy Chief Minister Eknath Shinde on Tuesday hailed India as it registered a real GDP growth rate of 7.8 per cent in the first quarter of the 2026–27 financial year (Q1 FY27, April–June 2026) under the leadership of Prime Minister Narendra Modi reflecting the country’s progress.
Chief Minister Fadnavis in his post on social media platform X said, “Yehi hai right choice, Bharat! Let’s keep going the same way, same direction. 7.8 per cent growth in such times prove our potential and possibilities as a Nation with PM @narendramodi’s leadership! Congratulations Bharat!”
On the other hand, Deputy Chief Minister Eknath Shinde said that India’s economy continues to demonstrate strong growth with a 7.8 per cent GDP expansion at a time when several nations globally are grappling with conflict and economic fallout.
“This reflects economic progress and stability, this marks another key step toward achieving the vision of ‘Viksit Bharat 2047’,” The Deputy Chief Minister added.
Speaking to reporters on the country’s economic outlook, Deputy CM Shinde expressed confidence that under the leadership of Prime Minister Narendra Modi, India is moving steadily toward becoming an economic superpower and achieving its target of a $5 trillion economy.
He assured that the Maharashtra government will contribute significantly to this journey.
Highlighting the adverse global backdrop, the Deputy Chief Minister noted that ongoing wars and geopolitical conflicts have impacted multiple world economies.
“In contrast, India’s 7.8 per cent growth rate presents a highly promising picture and signals the nation’s rising economic strength.”
Deputy CM Shinde emphasised that every citizen should take pride in the nation’s strengthening economy.
However, he criticised the opposition parties for taking a negative stance on national progress due to political bias against PM Modi.
He remarked that appeals made by the Prime Minister are always aimed at national interest, upliftment, and growth, but are often viewed through a narrow political lens by his critics.
“Instead of questioning progress, everyone should contribute toward accelerating development,” Deputy Chief Minister Shinde added.
Reaffirming the state’s commitment, the Deputy CM said that Maharashtra will fully cooperate with the Central government to reach the $5 trillion target and realise the ‘Viksit Bharat 2047’ roadmap.
He asserted that India’s economic strides are a matter of pride for all 140 crore citizens, adding that the public will appropriately respond to those opposing the country’s growth.
Business
Railways okays Rs 233 crore electronic signalling system at 21 stations in Bihar

New Delhi, Sep 1: Indian Railways has approved a proposal for the provision of modern Electronic Interlocking (EI) at 21 stations of Samastipur Division (Bihar) of East Central Railway with an investment of Rs 233 crore, according to an official statement issued on Tuesday.
The approved work involves the replacement of existing panel interlocking with electronic interlocking at these stations in Bihar. The electronic system will strengthen railway signalling infrastructure across the division and facilitate the implementation of Kavach, the indigenous Automatic Train Protection system, to enhance safety.
Electronic interlocking is a modern signalling technology that replaces ageing relay-based systems with computer-based interlocking, ensuring higher reliability, faster fault diagnosis, easier maintenance and enhanced operational flexibility.
The initiative is part of Indian Railways’ continued efforts towards modernisation of signalling systems, strengthening railway safety and enhancing operational efficiency across its network, the statement said.
Indian Railways has also sanctioned the Bhavnagar Para (BVP) Yard Remodelling project in Gujarat at a cost of around Rs 125 crore. The project will strengthen rail infrastructure in Bhavnagar by creating additional operational capacity at Bhavnagar Para and improving facilities for passengers.
The project will help decongest Bhavnagar Terminus by shifting stabling and other operational activities to Bhavnagar Para. This will enable smoother train operations, reduce rake detention and help improve punctuality. The additional infrastructure at Bhavnagar Para will facilitate better management of train movements and provide greater operational flexibility.
The remodelling work includes four loop lines, one engine reversal line, ART and ARME siding, relocation of the Station and EI building, one high-level passenger platform, widening of the existing platform, extension of the existing Foot Over Bridge (FOB) and construction of one new FOB. The project will also include two Road Under Bridges (RUBs), including one new RUB and extension of an existing RUB, along with service buildings and associated electrical and signalling works.
Passenger convenience will be enhanced through a new high-level island platform, widening of Platform No. 2 and improved FOB connectivity at Bhavnagar Para station. These facilities will provide easier movement and access for passengers, the statement added.
Business
669 metric tonnes onions sold at Rs 35 per kg, Rs 210 crore paid directly to 3,400 farmers: Govt

New Delhi, Sep 1: Retail sales of onions continue at Rs 35 per kg and a total of approximately 669 metric tonnes (MT) of the staple vegetable has been sold to date, comprising 223 MT through bulk channels via the e-NAM portal and similar online platforms at prevailing mandi prices, and 446 MT through retail channels across the country, the government said on Tuesday.
The affordable onion sale is being organised through the NCCF, the NAFED, Kendriya Bhandar outlets, and mobile vans, ensuring affordable availability for consumers.
“Simultaneously, around 1,000 MT of onions are being transported by road to major consumption centres, based on prevailing market conditions and price trends, with the aim of improving availability and moderating seasonal price pressures,” the Ministry of Consumer Affairs, Food, and Public Distribution said in a statement.
Further, Rs 210 crore has been paid directly to around 3,400 farmers, ensuring timely payments.
The government said it has begun a calibrated release of onion buffer stocks through a hybrid transportation model comprising railway rakes (Kanda Express) and road transport to major consumption centres to ensure adequate availability and moderation of seasonal price pressures.
As part of this initiative, two Kanda Express consignments have been dispatched from Nashik. The first rake, carrying 450 MT of onions, reached Delhi in the late hours of August 27.
Of this, 140 MT was subsequently distributed across Varanasi, Lucknow, Chandigarh, and Amritsar, with the remaining quantity distributed across the Delhi-NCR region.
The second rake, carrying 840 MT of onions, reached Chennai on August 31. The Tamil Nadu government plans to distribute these onions through the Public Distribution System (PDS) against the requirement of 1 kg per card.
The onions are likely to be distributed across various districts of Tamil Nadu as per the proposed district-wise clustering:
Retail intervention efforts have expanded significantly across 19 cities, supported by the dispatch of over 30 trucks to ensure widespread availability, said the official statement.
The release of onions from buffer stocks has improved market availability and eased prices, particularly in centres where onion consignments have reached, such as Varanasi, Amritsar, Delhi and nearby markets. Prices have shown a decline from the day following the commencement of disposal, with increased supplies expected to further support price stability.
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