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RBI maintains a pause on rates in step with global markets – it helps

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2 years ago

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The markets have been on a high for the past few sessions, particularly the Nifty, which consistently touched and even crossed the 18,000 mark earlier this week.

The Reserve Bank of India (RBI) earlier this month decided to maintain a pause on key policy rates for the second time in a row.

While in April when the RBI had first paused the repo rates, real estate firms’ shares had enjoyed good growth, mainly owing to positive sentiments among homebuyers, as the decision meant EMIs would not be raised.

But when the central bank decided to maintain a pause on the key rates this month again, no such enthusiasm was visible in real estate shares.

If experts are to be believed, there was nothing unusual in the bourses touching new highs as RBI’s decision was already factored in by markets.

Ashu Madan, managing director of JM Financial Services Ltd said: “There was no surprise element in the recent jump seen in stock markets, as it was on expected lines since global rates are on a pause.”

He added that there was no quantitative easing and there were no liquidity issues, therefore the RBI’s decision to hold rates did not lead to the bull run in the markets.

“Some things are normal and markets discount these developments (rate pause by RBI) in advance. Such factors are pre-empted,” Madan further said.

He, in fact, went on to say that markets should consolidate now, after touching highs.

Emphasising on the reasons behind bourses touching highs, Madan said that this phenomenon has occurred as people have become bullish about quick returns through investments in stocks.

He noted that post Covid, people started investing in stocks and engaged in short term benefits for quick profits.

Foreign institutional investors or FIIs too have a role to play in markets reaching new highs, as they are now buying, Madan said.

Also since derivatives and auction have arrived, investors have become traders and are focussing on short term gains, market watchers observed.

Madan on his part said that while real estate stocks rose in April due to growth in sector, in the coming days, metals and IT sector stocks should consolidate.

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Maharashtra Budget 2025: Dy CM Ajit Pawar Says Will Create 50 Lakh Jobs With ₹40 Lakh Crore Investment In 5 Years

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1 min ago

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March 10, 2025

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Mumbai: The Maharashtra state budget for fiscal year 2025-26 is being presented by the state Deputy CM and Finance Minister Ajit Pawar in Maharashtra State Assembly in Mumbai.

Jobs In Maharashtra

During the speech, the FM Pawar said that his government intends to create 50 lakh jobs for citizens of Maharashtra through a Rs 40 lakh crore investment over the next 5 years.

Pawar added that Maharashtra’s new Industrial Policy 2025 will soon be announced.

Special polices will also be announced in space, defence, electronics, MSME and circular economy.

Pawar also spoke about the introduction of new labour laws in the richest state.

In the speech, the FM said that he intends to build new business corridors in the Mumbai Metropolitan Region, or MMR, and make it a Growth Hub.

Mumbai-Bengaluru Corridor

Highlighting CM Fadnavis’s trip to the World Economic Forum (WEF) in Davos, Pawar said, MoUs signed with 63 companies at Davos Economic Summit, investment of a whopping Rs 15.72 lakh crores and estimated creation of 16 lakh jobs.”

The finance minister also updated the house on the status of the Bengaluru-Mumbai Industrial Corridor.

He said that land acquisition for the Bengaluru-Mumbai Industrial Corridor is underway and this project will help set up industries in drought-prone areas of the state.

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Mumbai Metropolitan Region To Be Developed As ‘Growth Hub’: Dy CM Ajit Pawar During Maharashtra Budget

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36 mins ago

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March 10, 2025

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Mumbai: Maharashtra state’s budget for the fiscal year 2025-26 is currently underway in the Maharashtra state assembly. The state’s finance and deputy chief minister, Ajit Pawar, while speaking in the budget, said that the Mumbai Metropolitan Region or MMR, will be developed as an international-class ‘Growth Hub’.

In order to achieve this, trade hubs will be set up in Bandra-Kurla, Kurla-Worli, Wadala, Goregaon, Navi Mumbai, Kharghar, Virar-Boisar.

The state government also aims to take the Maharashtra economy to USD 300 billion by 2030 and take it to new heights and reach the coveted trillion-dollar mark or USD 1.5 trillion by 2047.

The state of Maharashtra is the largest state economy within India.

The state FM also announced a major decision to exempt Port Development from property tax.

In his speech, Pawar said, “In the “Maharashtra Maritime Development Policy-2023”, port development has been exempted from property tax, non-agricultural tax, electricity duty, stamp duty, and industrial rates have been implemented for electricity. Passenger and port taxes have been exempted to promote passenger shipping and coastal tourism.”

At the beginning of the speech, Pawar highlighted the state election results. While speaking in the Maharashtra state assembly, he said, “The people gave an unprecedented majority to the Mahayuti in the November 2024 assembly elections. Heartfelt gratitude to all the people! This trust is a sense of responsibility and guarantees to uphold its honor.”

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Join e-Shram portal to access AB-PMJAY benefits: Centre to platform workers

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2 days ago

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March 8, 2025

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New Delhi, March 8: The Labour Ministry on Saturday urged the platform workers to self-register themselves on e-Shram portal, so that they may be considered for the benefits under the scheme at the earliest.

The gig and platform economy is expanding, offering new jobs in sectors like ridesharing, delivery, logistics, and professional services.

NITI Aayog has projected that the gig economy in India will employ over 1 crore workers in 2024-25, subsequently reaching 2.35 crore by 2029-30.

Recognizing the contribution of the gig and platform workers to the nation’s economy, Union Budget 2025-26 announcement has provisions for registration of online platform workers on e-Shram portal, issue of identity cards, and healthcare coverage under Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY).

The AB-PMJAY health scheme provides a cover of Rs 5 lakh per family per year for secondary and tertiary care hospitalisation across over 31,000 public and private empanelled hospitals in India.

For early implementation of these Budget provisions, the Ministry of Labour and Employment is soon launching the scheme, and has asked platform workers to register on e-Shram Portal for formal recognition and access to AB-PMJAY benefits.

“As a first step, Ministry requests the Platform Workers to self-register themselves on e-Shram portal, so that they may be considered for the benefits under the scheme at the earliest,” it added.

The platform aggregators are also requested to disseminate this information among the platform workers engaged with them and facilitate them to register on e-Shram portal.

Meanwhile, over 30.58 crore unorganised workers have been registered on the e-Shram Portal for receiving benefits under various social welfare schemes of the government.

The e-Shram portal has registered over 1.23 crore workers in 2024, averaging 33,700 enrolments per day.

The e-Shram portal is meant to register and support the unorganised workers by providing them with a Universal Account Number (UAN) on a self-declaration basis.

The e-Shram portal has been integrated with the National Career Service (NCS) Portal. An unorganised worker can register on NCS using his or her Universal Account Number (UAN) and search for suitable job opportunities. A link has also been provided to the workers registered on the e-Shram portal to seamlessly register on the NCS.

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