Page 2 - Income

Rural demand vulnerable due to higher food inflation, lower income: Report

The country's rural demand is vulnerable and could be further impacted by the "dual blows" of lower income and high food inflation due to an erratic monsoon, according to a domestic rating agency. The upcoming festivities may lead to a rise in consumption demand but such an increase will depend on the extent of the skewed monsoon impact, CareEdge Ratings said in a report released on Tuesday. Consumption, including rural demand, is considered an important factor influencing the overall GDP growth in the country. Some FMCG players have already flagged concerns on the rural demand front. "Rural demand remains vulnerable and can be hit by a dual blow of higher food inflation and lower income," the rating agency said. It said the risk to farm income remains high as uneven distribution of monsoon has affected the sowing of certain crops and can adversely affect yields. The cost of living is also rising due to high food inflation and expected hit to agriculture due to an erratic monsoon,

Monthly income of food delivery workers fell 11% over 3 years: NCAER

The report also mentions that the food delivery platforms have helped create jobs for young workers in Tier-II and Tier-III cities

Low income group consumers' sentiments buoyant about Indian economy : study

Home Credit India, which is a part of global consumer finance provider Home Credit Group, has said that sentiments of the low income population in urban and semi-urban spaces are quite buoyant about the country's economy. The company in its annual consumer survey 'The Indian Wallet Study 2023' found that with the economy growing, income levels have increased for 52 per cent of the low-income consumers last year. A total 76 per cent are expecting their incomes to rise in the coming year. This has made the low income population buoyant about the country's economy. However, despite the increase in their income the consumers are highly cautious when it comes to non-essential spending, the study said. The aim of the study is to understand the financial habits and sentiments of the consumers in the low-income strata within the urban and semi-urban areas. The study was made from a randomised survey of around 2200 respondents who are in the age group of 18 to 55 years with an annual incom

Welspun India to see over two-fold rise in domestic business by 2026

During the last financial year, the company's income dipped by around 12 per cent to Rs 8,215 crore from Rs 9,377 crore in 2021-22

India needs to take mfg to rural areas to bridge income gap, say experts

India does not consist of binary rural and urban areas anymore and the country needs to look at taking manufacturing to its villages to fill the income gap and achieve its development goals, experts said on Wednesday. At a conference on re-imagining rural India, organised by the Union Rural Development Ministry in collaboration with the World Bank and the Bills and Melinda Gates Foundation, NITI Ayog member Ramesh Chand said a major portion of resources allocated for rural development were on social schemes and stressed on the need for investment for overall development. Former secretary of Rural Development Ministry Nagendra Nath Sinha laid emphasis for formulating policies for rural areas that are fast transforming to urban areas. Speaking during the concluding session of the two-day conference, Chand said a clear trend has emerged over the years in the rural sector and there is a shift in balance from development approach to an approach which involves enabling a particular set of

Banks shine brightest in otherwise pale FY23 for India Inc, shows data

The share of their net profit in India's GVA hit a record high of 1%

Embassy REIT clocks 11% growth in net income, declares Rs 2,058 cr dividend

Embassy Office Parks REIT on Thursday reported an 11 per cent increase in its net operating income at Rs 2,766.3 crore during the last fiscal year and declared distribution of Rs 2,057.9 crore dividend to unitholders. Its net operating income stood at Rs 2491.1 crore in the 2021-22 fiscal. The board of directors of Embassy Office Parks Management Services Pvt Ltd, Manager to Embassy REIT, at its board meeting declared a distribution of Rs 532 crore or Rs 5.61 per unit for the fourth quarter of the last fiscal. The distributions of money to unitholders are in the form of dividend, interest and repayment of SPV level debt. "With this, the cumulative distribution for FY'23 totals Rs 2,058 crore or Rs 21.71 per unit. The record date for the Q4 FY2023 distribution is May 6, 2023, and the distribution will be paid on or before May 12, 2023. The company's revenue from operation rose to Rs 3,419.5 crore in the 2022-23 fiscal, from Rs 2,962.6 crore in the previous year. Embassy REIT CEO .

Consumer sentiments fall short

Expectations of household incomes a year later turned positive in March 2023 for the first time since April 2020

One-third of urban Indians claim dip in disposable income in last 12 months

More than a third of urban Indians have claimed that their disposable income has decreased in the last 12 months, YouGovs latest report said

Budget 2023-24: Relief to middle class set to spur private consumption

The government plans to collect just over Rs 9 trillion via personal income tax in FY24

HDFC retail loan demand at 8-year high, standalone net profit rises 18%

Shifted from quarterly reset for individual loans to monthly one

One out of every three Indians 'middle class'; to double by 2047: Report

The report released by PRICE added that the share of middle class in the total population rose from 14 per cent in 2004-05 to 31 per cent in 2021-22

Apply for re-computation of income under Rule 132 to avoid tax penalty

Those with income from business or profession, who have availed deduction on cess/surcharge, must do so by March 31

SBI least efficient in Asia-Pacific due to high cost-to-income ratio: Study

State-owned lender had the highest cost-to-income ratio, according to S&P Global Market Intelligence

ICICI Lombard's Q1 net up 80% to Rs 349 cr on strong premium income

The gross direct premium income by the insurer during the period was Rs 5,370 crore, up 28.2 per cent from the year-ago period

Gender Gap Index 2022: India slips on income measures, shows data

The country performed better on education and health parameters. Political representation has been a mixed bag

Number wise: Hike in MLA salaries outstripped growth in common man's income

Delhi lawmakers just gave themselves a salary hike, joining counterparts in widening the gap with their voters' income

Spandana Sphoorty's Q4 consolidated net profit declines 42% to Rs 28.6 cr

The MFI aims to double assets to Rs 15,000 cr by FY25

Raymond Q4 net profit soars over four-fold at Rs 265 cr; income up 43%

The company had posted a net profit of Rs 58.36 crore during the January-March quarter of the previous fiscal, Raymond said in a regulatory filing

Steel giant ArcelorMittal's Q1 net income jumps over 80% to $4,125 million

"ArcelorMittal recorded net income for 1Q 2022 of USD 4,125 million as compared to...a net income of USD 2,285 million for 1Q 2021," the Luxembourg-based firm said