The turnaround can be attributed to investor friendly policy, akin to the one that the Government of India took in 1991 with the New Economic Policy. The several steps that Telangana took includes: speedy clearance aided by a single window, 100 per cent refund on VAT and GST, refund on stamp duty, exemption from Land Ceiling Act, exemption from electricity wheeling charges and not running around to get approval from the State Pollution Control Board.
The most visible area of the state’s renewable energy push has been in public transport system. The Telangana State Road Transport Corporation (TSRTC) for instance teamed up with TSREDCO to install solar rooftop systems on the bus stations, bus depots and workshops. In all, 97 bus depots and 364 bus stations have been covered and the savings are over Rs 2 crore per annum. What is more! It resulted in reduction in carbon emissions by 7,300 tonnes a year.
IndiGlobal Bureau
The year 2023 has been wonderful for investors in India who went laughing to the bank as the investor community got richer by Rs 82 trn. Thanks to political stability and FII inflows that triggered a market rally. The BSE benchmark jumped 11,399.52 points and Nifty climbed 3,626.1 points or 20 per cent.
It has been a memorable year for the equity market as Dalal Street investors made Rs 81.90 lakh crore thanks to India’s strong macro-economic fundamentals.
Industry experts attribute the good run to retail investor participation in 2023. Among the Sensex firms, State Bank of India, Infosys, Titan, Tech Mahindra, IndusInd Bank, NTPC, ICIC Bank, Power Grid, Reliance Industries and Kotak Mahindra Bank were the major laggards. On the other hand, Tata Motors, Nestle, Hindustan Unilever, Tata Steel, Bajaj Finance and UltraTech Cement were among the gainers.
In the broader market, the BSE midcap gauge climbed 0.85 per cent, while the smallcap gauge jumped 0.69 per cent. Among the indices, oil & gas fell by 1.10 per cent, bankex went lower by 0.53 per cent, IT declined by 0.46 per cent, tech dipped by 0.38 per cent, consumer durables (0.07 per cent) and financial services (0.05 per cent). Telecommunication jumped 2.84 per cent, auto climbed 1.17 per cent, services (1.06 per cent), FMCG (0.86 per cent) and consumer discretionary (0.77 per cent). On the weekly front, the BSE benchmark jumped 1,133.3 points or 1.59 per cent, and the Nifty rallied 382 points or 1.78 per cent.
There has been a major shift as more and more people moved from savings to investments by parking their surplus funds in mutual and equity market. That saver is now savouring the joys of investing as mutual fund platforms, cash equities and derivatives markets, insurance funds, global private equity in India, other platforms like AIFs, lower tax regime for equity, have all converted from a saver to an investor, he said. Thus, India has transformed from being a nation of savers to investors and the tussle between the saver/borrower and issuer/investor model is underway.