Business
Indian Stock Market Evaluates Two Major Policy Initiatives to Stimulate Economic Growth
These initiatives are designed to bolster economic growth while upholding fiscal discipline. On the market front, the Nifty 50 rose by 1%, the Nifty Midcap increased by 0.9%, and the Smallcap index gained 0.7%.
The Indian stock market closed on a low note on Friday, as investors continued to evaluate the RBI’s Monetary Policy Committee (MPC) decision to reduce the repo rate by 25 basis points. However, the central bank retained a neutral policy stance, lowering the repo rate from 6.5% to 6.25%.
The Sensex ended the day at 77,860, down by 198 points, while the Nifty index fluctuated between 23,694 and 23,443, ultimately closing at 23,560, reflecting a decline of 43 points.
Krishna Appala from Capitalmind Research stated that the Budget presented essential tax relief, resulting in greater disposable income for consumers. Those earning over Rs 24 lakh annually will now save an additional Rs 1.1 lakh per year, and individuals earning up to Rs 12 lakh per year will effectively pay no income tax.
“With an estimated Rs 1 lakh crore expected to flow back into the economy from these tax cuts, this move is set to promote higher discretionary spending and savings,” Appala added.
Despite these tax reductions, the government remains committed to fiscal consolidation, setting the FY26 fiscal deficit target at 5.3% of GDP, down from 5.8% in FY25.
In conjunction with the fiscal stimulus, the RBI’s decision to lower the repo rate to 6.25% signals the start of a potential rate-cut cycle after maintaining unchanged policy rates for over two years. This follows a 50 basis points cut in the Cash Reserve Ratio (CRR) in December 2024 and a Rs 60,000 crore bond purchase program aimed at enhancing liquidity in the banking system.
Hrishikesh Yedve from Asit C Mehta Investment Intermediates Ltd (a Pantomath Group company) observed that the index formed a green candle on the weekly chart, confirming last week’s bullish engulfing pattern.
“On the downside, immediate support for the Bank Nifty is around 49,650, while the resistance level is set at 50,600. Traders should monitor these levels closely for potential opportunities. Given the weekly formation, adopting a buy-on-dips strategy in Bank Nifty would be advisable,” he remarked.
Additionally, promoters and their groups are required to retain a minimum of 20% of the company at the time of application.
Furthermore, applicants must demonstrate revenue from operations exceeding ₹100 crore in the previous financial year and show positive operating profits in at least two of the last three financial years. The total number of public shareholders must also be at least 500 on the application date.
The NSE outlined several other prerequisites for SMEs aiming to shift to the main board. Notably, there must be no proceedings initiated against the applicant company or its promoters under the Insolvency and Bankruptcy Code, nor should there be any admitted winding-up petitions from NCLT/IBC.
The net worth of the company must be no less than ₹75 crore. Additionally, the NSE emphasized that there should be no significant regulatory actions, such as trading suspensions against the applicant company or its promoters, in the past three years. There should also be no debarments involving the company, its promoters, or its subsidiary by SEBI.
Further, applicants must ensure that directors have not faced disqualification or debarment from any regulatory authority, and there should be no unresolved investor complaints in the SCORES system.
The report further indicates that the average residential price in the Delhi NCR market surged to ₹8,300 per sq ft in Q1 2025, a substantial increase from ₹4,580 per sq ft in Q1 2020.
Notably, as property prices have increased, the unsold inventory in Delhi NCR has decreased by 51%, falling from 173,117 units at the end of Q1 2020 to 84,500 units by Q1 2025. Key reforms, such as the Real Estate Regulation Act (RERA) of 2016 and the launch of the Special Window for Affordable and Mid-Income Housing Fund, have played a crucial role in stabilizing the real estate market.
In Gurugram, residential property prices rose to ₹11,300 per sq ft in Q1 2025, up from ₹6,150 per sq ft in Q1 2020, marking an appreciation of 84%. Meanwhile, Noida saw prices increase by 92%, from ₹4,795 per sq ft in 2020 to ₹9,200 per sq ft this year.
The NCR residential market introduced 53,000 new units in 2024, reflecting a nearly 44% increase from the previous year. The report highlights a growing preference for luxury and ultra-luxury housing in Delhi NCR over the past three years.
Furthermore, Ghaziabad and Greater Noida reported declines in unsold inventory of 58% and 56% respectively over the five-year period. Prior to the pandemic, affordable units priced below ₹40 lakh were predominant in the supply pipeline; however, the current trend leans toward luxury and ultra-luxury homes. In 2024, affordable housing comprised only 11% of total launches in NCR, a significant drop from 62% in 2020.
Additionally, the ultra-luxury segment, characterized by units priced above ₹2.5 crore, represented nearly 59% of the total Delhi NCR housing inventory in 2024, compared to just 4% in 2020.
Business
More than 83,000 Tobacco Farmers to Gain from Centre’s Extension of License Validity to Three Years
According to the ministry’s statement, the new three-year validity for registrations and licenses is part of a broader initiative to enhance the ease of doing business.
To implement this change, the Government of India has amended sub-rules (5), (6), and (7) of rule 33 and sub-rules (2) and (3) of rule 34N of the Tobacco Board Rules, 1976. The amendments, which were published in the Gazette of India by the Ministry of Commerce and Industry, will take effect from the 2025-26 crop season in Andhra Pradesh.
This policy amendment is expected to significantly benefit around 83,500 farmers operating approximately 91,000 barns in Andhra Pradesh, Karnataka, Telangana, and Odisha, facilitating their registration and licensing processes more efficiently.
Virginia tobacco cultivation in India is regulated under the Tobacco Board Act of 1975 and the associated rules. Under this legislation, growers must obtain a registration certificate and a barn operation license from the Tobacco Board.
As the second-largest producer and fourth-largest exporter of unmanufactured tobacco globally, India generated $1,979 million (approximately ₹16,728 crore) from tobacco exports during the financial year 2024-25, as noted in the statement.
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