Page 10 - Latest Updates on Capital Expenditure
Spending 50% of capex target by September: An uphill task for PSUs
Union Finance Minister Nirmala Sitharaman had earlier this week asked public sector companies to undertake half their capex for the current year by September.
 "Spending 50% of capex target by September: An uphill task for PSUs")
Apollo Tyres to cut capex by Rs 400 cr this fiscal to preserve liquidity
The company had earlier earmarked a capex of around Rs 1,400-1,500 crore for the domestic operations for the current financial year
 "Apollo Tyres to cut capex by Rs 400 cr this fiscal to preserve liquidity")
Biocon to invest $200 million on capital expenditure in current fiscal
Biocon CEO and Managing Director Siddharth Mittal said the investment would be split across small molecules and biosimilar verticals
 "Biocon to invest $200 million on capital expenditure in current fiscal")
April-May fiscal deficit at 58.6% of fiscal year target as revenue slumps
Total revenue was Rs 45,498 crore, or 2 per cent of the budgeted estimate of Rs 22.46 trillion, compared to 7.1 per cent for the same period last year.
 "April-May fiscal deficit at 58.6% of fiscal year target as revenue slumps")
India Inc on war footing to cut costs, conserve cash to offset Covid impact
Capex is the first head on the chopping block, followed by operating costs and overheads
 "India Inc on war footing to cut costs, conserve cash to offset Covid impact")
ONGC seeks crude price assurance of $45 per barrel, cuts capex by 15%
The largest domestic oil and gas producer had budgeted a capex of Rs 32,502 crore for the financial year, which has now been cut to around Rs 27,500 crore.
 "ONGC seeks crude price assurance of $45 per barrel, cuts capex by 15%")
Bharti Airtel to go slow on capex in Q1FY21 amid Covid-19 crisis, Q4 loss
Bharti Airtel reported a consolidated net loss of Rs 5,237 crore in Q4FY20 against a net profit of Rs 107.2 crore in the corresponding quarter last year.
 "Bharti Airtel to go slow on capex in Q1FY21 amid Covid-19 crisis, Q4 loss")
Centre not cutting flagship schemes but won't take over states' burden
Official says some savings are expected as the Centre will make cuts wherever there is low-priority expenditure
 "Centre not cutting flagship schemes but won't take over states' burden")
Hit by Covid-19 lockdown, Grasim puts capital expenditure for FY21 on hold
Top company executives said the firm had earlier planned to invest about Rs 3,880 crore in the present financial year.
 "Hit by Covid-19 lockdown, Grasim puts capital expenditure for FY21 on hold")
Coronavirus lockdown: Govt may extend window to reconcile expense receipts
It will also impact how soon the finance ministry can come out with its borrowing calendar for the first half of 2020-21, a decision that is of enormous significance for the markets
 "Coronavirus lockdown: Govt may extend window to reconcile expense receipts")
Why a growth rate falling below 5% is a clear and present danger for India
At 5 per cent, GDP growth in the current year would be an 11-year low. Worse, this will also mark a deceleration for a third straight year, writes A K Bhattacharya
 "Why a growth rate falling below 5% is a clear and present danger for India")
NTPC raises Asia's largest Japanese yen loan of $750 million
The proceeds from the latest JPY loan would be used in to fund capital expenditure for installation of FGD systems at its existing units
 "NTPC raises Asia's largest Japanese yen loan of $750 million")
Budget 2020: Govt may increase spending on infra, offer tax incentives
In annual economic report, the government predicted that economic growth would pick up to 6.0% to 6.5% in the fiscal year beginning April 1
 "Budget 2020: Govt may increase spending on infra, offer tax incentives")
At least Rs 1.5-2 trn capital infusion is needed: Ficci chief Sangita Reddy
If there's a time-bound plan to raise Rs 3-5 trillion through disinvestment, which is more than adequate to cover the spending, it won't affect the ratings, says Sangita Reddy
 "At least Rs 1.5-2 trn capital infusion is needed: Ficci chief Sangita Reddy")
Budget 2020: Why govt must look beyond taxes, do more with its money
Though non-tax revenues, including borrowings, account for 40% of the Budget, there seems to be little focus on boosting these or reducing borrowings by saving on expenditure, writes T N Ninan
Economists prefer capex route to boost demand amid economic slowdown
Though MGNREGA and PM-Kisan have clear rural focus, they think excess public spending should only be on capex
 "Economists prefer capex route to boost demand amid economic slowdown")
New projects surge in December quarter; up 37% at Rs 4.26 trillion
The rise in new projects is despite a fall in capacity utilisation
 "New projects surge in December quarter; up 37% at Rs 4.26 trillion")
NTPC inks Rs 5,000 crore term-loan pact with SBI for capex spending
The loan facility has been extended at an interest rate linked to 3-month MCLR of the bank and has a door-to-door tenure of 15 years
 "NTPC inks Rs 5,000 crore term-loan pact with SBI for capex spending")
Day after GDP data, PM defends govt's record and hints at more measures
Finance Minister Nirmala Sitharaman also joined in and defended the Centre's economic record in the last six months
 "Day after GDP data, PM defends govt's record and hints at more measures")
Rising fiscal fears
A comprehensive review is needed
