Mint in the week gone by. India's current account deficit (CAD) declined to 1% of the gross domestic product in the September quarter, down from 1.1% in the last quarter. The mutual fund industry's assets under management climbed to a new peak in 2023 as growth in folio count and unprecedented inflows from systematic investment plans (SIPs) indicate growing investor confidence.
In the Union budget 2024-25, the government may set aside ₹2 trillion for the agriculture ministry, 39% higher than the previous budget, Mint reported. The allocation would help expand the government’s flagship schemes on income support and crop insurance for farmers. The ministry had received ₹1.44 trillion in the 2023-24 budget.
There’s also a high possibility that the Centre will increase farmers’ income support to ₹9,000 per household from ₹6,000 now, per year, an official said. The Indian stock markets have seen a surge in small investors who are increasingly investing in shares since the pandemic years, Mint reported. Data from the National Stock Exchange showed that individuals who invested up to ₹10,000 in the market made up a third of the entire investing community as of November 2023.
However, their contribution to the turnover remained minuscule. The value of trades done by these investors totalled ₹530 crore, or just 0.04% of the total turnover. 37.8%: That's the share of bank debt in total borrowings by non-banking financial companies (NBFCs) as of September 2023, Reserve Bank of India data showed.
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