Business
Maha will play key role in achieving India’s $5 trillion economy goal: Minister Tatkare

Nagpur, Dec 21: Representing Maharashtra in the pre-Union Budget meeting held in Jaisalmer, Minister Aditi Tatkare on Saturday assured that Maharashtra would play a pivotal role in India’s journey towards becoming a $5 trillion economy.
She emphasised the need for special financial assistance to the state in the upcoming Union Budget.
Minister Tatkare presented Maharashtra’s vision, highlighting its strategic role in realising the Prime Minister’s goal of a ‘Viksit Bharat’ by 2047.
Minister Tatkare outlined several critical issues and proposals for inclusion in the Union Budget. She urged the finance minister for central assistance for state Capital Investment by enhancing the allocation under the Scheme for Special Assistance to States for Capital Investment.
She emphasised the need for streamlining fund disbursement timelines to provide qualifying states with a minimum one-year utilisation window.
In the wake of rapid urbanisation, Minister Tatkare called for central support to tackle the challenges faced by the state.
“Maharashtra, with urbanisation expected to surpass 50 per cent in the upcoming census, faces challenges in resource mobilisation for urban local bodies (ULBs). The state government urges support for ULBs to access long-term loans for planned urban development and infrastructure enhancement,” she said.
Under the MukhyaMantri Saur Krushi Vahini Yojana 2.0, aimed at solarising agricultural feeders, Minister Tatkare sought increased targets and funding allocations for Maharashtra.
She requested expansion of Battery Energy Storage System (BESS) capacity from 500 MWh to 9,000 MWh to meet the state’s energy storage goals.
In order to further boost the modernisation of the home department, Minister Tatkare sought funds on a 60:40 basis, for projects such as digital forensic labs, mobile forensic vans, AMBIS systems, and the Cyber Security Project (Rs 837.86 crore).
She highlighted the need for funding major initiatives like Dial 112 emergency services integration and Maharashtra Police Station CCTV projects.
She urged financial support for faster case disposal through enhanced infrastructure for the judiciary.
She requested funding for constructing the Bombay High Court Complex in Bandra (East), estimated at Rs 3,750 crore.
Further, to push the implementation of the Mumbai Metropolitan Region (MMR) economic master plan, Minister Tatkare proposed a special package.
The master plan is aligning with NITI Aayog’s vision to transform MMR into a national growth hub by 2030.
According to NITI Aayog, the MMR has a potential to increase its GDP to $300 billion by 2030 from the present level of $140 billion.
The Centre’s public policy think tank has asked the Maharashtra government to concentrate on seven growth drivers and attract investment of $125-135 billion from the private sector to achieve the target.
In a bid to push the state government’s ambitious plan to make Maharashtra drought-free, the state government has sought central government support to include state-funded river-linking projects like Wainganga-Nalganga and Damanganga-Godavari under the National Interlinking of Rivers Scheme.
Further, the state government appealed to the Centre to ease revenue expenditure pressures to create fiscal space for capital projects and establish a ‘Kisan Vishesh Sahayata Nidhi’ to compensate farmers affected by trade policy interventions.
The state government also appealed for the enhancement of funding for ongoing schemes like the Jal Jeevan Mission and financial assistance for disaster-affected areas.
Minister Tatkare said the comprehensive representation highlighted Maharashtra’s ambitions and challenges, ensuring the state’s priorities were well-articulated for the Union Budget deliberations.
She reiterated Maharashtra’s commitment to becoming a cornerstone of India’s economic growth and development trajectory.
Business
India’s strong domestic market cushions economy against global trade shocks: Report

New Delhi, May 21: India is in a stronger position than other countries to withstand global trade disruptions, in the wake of the US tariff turmoil, due to the large size of its domestic market and the country’s low dependence on goods exports, according to a Moody’s report released on Wednesday.
The report points out that the government initiatives, such as increasing infrastructure investment, steps taken to boost private consumption, will help shield India’s economy from weakening global demand.
“India’s large domestic economy and limited exposure to global goods trade puts it in a stronger position to absorb external shocks,” the report said.
Some sectors — like automobiles, which export to the US — may encounter global headwinds, despite their diversified operations. But India’s robust services sector and large domestic economy provide strong buffers, according to the report.
The report also states that declining inflation is expected to pave the way for a soft monetary policy with interest rate cuts to spur growth. The banking sector also has sufficient liquidity to support credit growth, according to the report.
The Moody’s report also observes that the recent India-Pakistan tensions are more likely to weigh on Pakistan’s economy than India’s. The key economic hubs in India are far from the conflict zones, and bilateral economic ties remain limited.
However, a prolonged escalation could lead to increased defence spending, which might slow fiscal consolidation efforts and impact government finances, the report added.
Moody’s Ratings had earlier this month pegged India’s GDP growth at 6.3 per cent for 2025 and expects the economy to pick up momentum in 2026 to record a 6.5 per cent growth rate.
The forecast is in line with the IMF outlook, which sees India as the only major economy in the world to record an over 6 per cent growth rate in 2025.
Business
ACME Solar’s net profit for FY25 crashes over 64 pc to Rs 250.8 crore

Mumbai, May 20: Gurugram-based renewable energy player ACME Solar Holdings Limited has reported a steep decline of over 77 per cent year-on-year (YoY) in its consolidated net profit, which dropped to Rs 122 crore in the March 2025 quarter (Q4 FY25).
The company had posted a net profit of Rs 532.3 crore in the same period last financial year (Q4 FY24), according to its stock exchange filing.
For the full financial year (FY25), ACME Solar’s net profit declined by around 64 per cent to Rs 250.8 crore, compared to Rs 697.7 crore in FY24.
The sharp fall in profits came despite a strong rise in revenue. The company’s revenue from operations in Q4 stood at Rs 486.88 crore, up from Rs 295.16 crore a year ago — marking a YoY growth of nearly 65 per cent.
Total income also increased significantly to Rs 539.2 crore in Q4 FY25, from Rs 318 crore in the corresponding quarter last fiscal — showing a 69.56 per cent rise.
However, finance costs grew to Rs 205.5 crore from Rs 177.3 crore in the same period last fiscal — an increase of around 15.90 per cent.
Depreciation and amortisation expenses also rose sharply to Rs 102.2 crore, up 66.99 per cent from Rs 61.2 crore in Q4 FY24.
Despite the decline in profits, the company highlighted strong operational progress.
Chairperson and Managing Director Manoj Kumar Upadhyay said FY25 was a ‘remarkable year’ for ACME Solar, as it expanded its operational portfolio and commissioned its largest single-location project — a 1,200 MW SECI ISTS solar project.
He added that the company is now witnessing stronger earnings performance, with Q4 revenue rising 70 per cent YoY to Rs 539 crore and EBITDA jumping 118 per cent to Rs 488 crore.
He also stated that ACME’s focus on hybrid and firm-dispatchable renewable energy (FDRE) solutions is making the business more resilient.
Business
Jupiter Wagons’ net profit falls nearly 2 pc in Q4, revenue slips

Mumbai, May 19: Railway wagons and components manufacturer Jupiter Wagons on Monday reported a decline of 1.9 per cent in its net profit at Rs 103 crore in Q4 FY25, down from Rs 105 crore in the same period last fiscal.
The profit before tax (PBT) also declined by 8.26 per cent year-on-year (YoY) to Rs 127.47 crore from Rs 138.95 crore, according to its stock exchange filing.
The company’s consolidated total income also saw a decline, falling to Rs 1,057 crore from Rs 1,127 crore a year earlier — a drop of around 6.2 per cent.
Similarly, revenue from operations decreased by approximately 6.4 per cent, from Rs 1,115.41 crore in the year-ago period to Rs 1,044.54 crore in the last quarter of FY25.
Despite the revenue dip, Jupiter Wagons managed to reduce its total expenses to Rs 923.34 crore in Q4, down 6.4 per cent compared to Rs 986.41 crore in the same quarter last financial year.
However, on a sequential basis, expenses rose by about 1.56 per cent compared to Rs 909.16 crore in Q3.
The company’s EBITDA (earnings before interest, taxes, depreciation, and amortisation) rose slightly to Rs 153 crore from Rs 147 crore last fiscal, with the EBITDA margin improving to 14.6 per cent from 13.2 per cent.
Shares of Jupiter Wagons Limited fell by Rs 13.1 or 3.1 per cent to close the intra-day trading session at Rs 408.95 on the National Stock Exchange (NSE) on Monday.
Speaking about the full financial year, Managing Director Vivek Lohia described FY25 as a transformative year for Jupiter Wagons.
He highlighted several strategic wins, including major contracts with Braithwaite for wheelsets.
“The company also secured brake system contracts worth over Rs 215 crore,” Lohia mentioned.
Lohia emphasised the company’s push into electric mobility with the inauguration of a new facility in Pithampur.
“This state-of-the-art plant is expected to drive battery production and supply to Indian Railways and private partners, along with orders for complete Battery Energy Storage Systems (BESS),” he said.
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