New project announcements by the private and public sectors went into freeze mode in the past two fiscals. Less than a 1% increase has been seen in new investment proposals in FY22 as compared to the previous year. As far as project completion is considered, 2,152 projects got completed in FY22, 31% higher than the previous year.
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Budget 2023
Budget 2023: Slowdown in project announcements
New project announcements by the private and public sectors went into freeze mode in the past two fiscals.
People
Jet Airways’ founder Naresh Goyal can’t leave India
While Delhi High Court refused Goyal permission to fly abroad, it asked him to deposit ₹18,000 crore as guarantee if he wished to travel. Meanwhile, Vijay Mallya’s extradition suffers a setback.
New scam at PNB will delay return to profits
A ₹3,800 crore fraud will demand more provisioning in the current year, and PNB may require further capital from the government if it needs to grow its business.
Solving for the past, rooted in the present, vaulting to the future
India’s responses to competition have to be flexible, and within the framework of an ongoing conversation between the govt and all stakeholders. This Budget was a great start in that process.
The Karma Group: An inspiring journey of success
People
Jet Airways’ founder Naresh Goyal can’t leave India
While Delhi High Court refused Goyal permission to fly abroad, it asked him to deposit ₹18,000 crore as guarantee if he wished to travel. Meanwhile, Vijay Mallya’s extradition suffers a setback.
New scam at PNB will delay return to profits
A ₹3,800 crore fraud will demand more provisioning in the current year, and PNB may require further capital from the government if it needs to grow its business.
Solving for the past, rooted in the present, vaulting to the future
India’s responses to competition have to be flexible, and within the framework of an ongoing conversation between the govt and all stakeholders. This Budget was a great start in that process.
The Karma Group: An inspiring journey of success
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