Business

Government Consumption Growth Projected to Increase in FY25

Published

1 year ago

February 4, 2025

According to a report released on Sunday, government consumption growth is projected to enhance in FY25, fueled by rising revenue expenditures from both state and union governments. Private consumption growth is anticipated to be bolstered by rural demand, a decrease in inflation, and a favorable base.

The report, titled ‘Budget 2025–26: Fostering India’s Inclusive Growth’ by PwC, indicates that exports are also likely to experience significant growth, driven by robust performance in service exports. It provides comprehensive insights into budget highlights, the economic outlook, and key tax and regulatory proposals that will influence India’s economic landscape in the years ahead.

As per the initial advance estimates, India’s economic growth is projected to moderate to 6.4% in the financial year (FY) 2025, down from a growth rate of 8.2% in FY24. This slowdown is attributed to a decrease in urban consumption, high food inflation, sluggish growth in capital formation, and global challenges.

Nevertheless, India is expected to retain its status as the world’s fastest-growing economy in 2025, supported by a vibrant domestic market, a rising working-age population, and strong macroeconomic fundamentals, as outlined in the report.

The government aims to surpass its fiscal deficit target of 4.9%, with projections set at 4.8% for FY25. Furthermore, it has allocated a fiscal deficit of 4.4% for FY26, reaffirming its commitment to achieve a deficit below 4.5% by FY26. The economic survey forecasts growth in the range of 6.3% to 6.8% for FY26.

“Inflation is expected to ease to an average of 4.5% in FY26, facilitated by favorable food inflation resulting from good harvests and anticipated normal monsoon conditions, alongside softening commodity prices,” the report noted. It also mentioned that the exchange rate, which has faced pressure, is likely to improve as the volatility in Foreign Portfolio Investor (FPI) flows stabilizes and the decline in crude prices reduces the costs of India’s crude import basket.

Business

Opendoor Shuts Down India Operations, 250 Employees Affected

Published

1 day ago

June 11, 2026

Namma Kudla

Business: US-based real estate technology company Opendoor has decided to close its operations in India. The move will impact nearly 250 employees.

CEO Kaz Nejatian said the company is bringing operational roles closer to its customers in the United States. He explained that most of Opendoor’s customers are based in America.

The company said the decision is not related to the performance of its India team. Nejatian praised the employees for their hard work and contributions.

Affected workers will receive severance pay, job placement support, and other assistance. A small number of employees will stay temporarily to help with the transition.

Opendoor said it will continue focusing on simplifying operations and improving efficiency with new technology and AI.

Business

Domestic LPG Cylinder Price Increased by Rs 29

Published

5 days ago

June 7, 2026

Namma Kudla

New Delhi: The price of domestic LPG cooking gas cylinders has been increased by Rs 29 across India. This is the second price hike in the last three months.

The increase comes as global energy prices continue to rise due to the ongoing conflict in the Middle East.

After the revision, a domestic LPG cylinder now costs Rs 942 in Delhi, Rs 941.40 in Mumbai, Rs 968 in Kolkata, and Rs 957.50 in Chennai. In Bengaluru, the new price is Rs 944.50 per cylinder.

The government said the cost of supplying LPG has increased significantly. However, subsidies under the Pradhan Mantri Ujjwala Yojana continue to help over 10 crore beneficiaries.

Petrol, diesel, and CNG prices have also increased in recent weeks as global fuel markets remain volatile.

Business

Honda Begins Delivery of 2026 City Hybrid

Published

1 week ago

June 3, 2026

Namma Kudla

Business: Honda Cars India has started delivering the new 2026 Honda City Hybrid to customers. The first car was handed over at a dealership in Bengaluru.

Honda President and CEO Takashi Nakajima attended the special delivery event. Other senior company officials were also present.

The first customer received a Crystal Black Pearl Honda City Hybrid. The car was delivered with a symbolic key and a gift hamper.

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The updated City comes with new features such as ventilated front seats and a 360-degree camera. It also offers wireless Apple CarPlay, Android Auto, and a sunroof.

The sedan is available with petrol and strong-hybrid powertrain options. Honda claims the hybrid version delivers a mileage of 27.26 kmpl.

The Honda City competes with the Volkswagen Virtus, Skoda Slavia, and Hyundai Verna in India.