Former prime minister Malcolm Turnbull believes the Morrison government should resist a push to delay an increase in superannuation.…
India’s economy might have shrunk by a quarter with Covid-19 gathering pace, but the Centre has walked the talk on capital expenditure (capex), shows the data from the Controller General of Accounts (CGA).
Figures released by the CGA show that capex for April-June, of Rs 88,273 crore, was 40 per cent higher than the same period last year. However, by July-end, that gap had narrowed to just 4 per cent. Capex in July was Rs 23,576 crore, compared to Rs 44,605 crore in July 2019 — a drop of 47 per cent.
What explains the huge difference between the Centre’s capex in the first quarter (Q1) of 2019-20 (FY20, a non-pandemic year) and 2020-21 (FY21)? What explains the narrowing of that gap between June and July? The answer, for the most part, is the 2019 general elections.
It is well known that in an election year, while the incumbent finance minister presents an interim Budget for the full year, the Parliament passes a vote on account for Q1 only. After the elections, a full-year Budget is presented in late June or early July.
“There was less capex
The current default amount includes principal of Rs 20 crore and interest of Rs 2.03 crore, payable annually, it said.
In a regulatory filing, the company said it has been unable to service its obligations towards payment of principal redemption and interest due on September 5, 2020.
“The company has approached the debenture trustees seeking deferment of the said obligations such that 50 per cent of the amount due shall be paid on or before September 30, 2020 and the balance 50 per cent to be paid by December 31, 2020,” it said.
FCL further said, “The debenture trustees having approached few of the debenture holders to obtain their consent to the aforesaid proposal for deferment, and in order to have clarity on the same, have called for a meeting of the debenture holders on September 9, 2020.” The number of investors in the security as on date
The FTSE 100 Index is currently trading at multi-year lows, not for lack of enthusiasm among traders, but by dint of the devastating effects of the global pandemic.
The vaunted FTSE 100, a bastion of pride for Britons, has posted 1-year returns in the region of -19.50% (3 September 2020).
Compare this to the stellar performance of the S&P 500 index which is up 20.17% over 1 year, or the NASDAQ composite index which is up 46.34% over 1 year. The differences are striking to say the least, but trading opportunities still abound in British markets.
Source: FTSE 100 Index Bloomberg
Major UK Companies on the Brink
Stock market performance in the UK has been lacklustre to say the least. High levels of volatility, low confidence, and low growth prospects are the norm. However, there is still plenty of money to be made by correctly calling stocks vis-a-vis bullish and bearish signals. Presently, several industries are reeling from the pandemic notably travel and tourism, energy (oil, natural gas), and tech stocks. The BBC ran an op-ed by Robert Plummer, listing a host of industries currently under financial strain. These include additional industries in the form of road haulage companies, ferries,