#RememberingManmohanSingh
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Former Prime Minister Manmohan Singh passes away at 92
Former Prime Minister Manmohan Singh, aged 92, passed away after being admitted to the All India Institute of Medical Sciences (AIIMS) in Delhi on the evening of December 26. His health had deteriorated rapidly, and he was immediately taken to the hospital’s emergency department for urgent medical attention.
Singh, who served as India’s Prime Minister from 2004 to 2014, had been dealing with age-related health issues in recent years, leading to multiple hospital visits.
Manmohan Singh, India’s eyewitness
Obituary | Very few have survived long enough to see all history unfold from such close quarters, for over six and a half decades. Even fewer would emerge with such few bruises from a long public life like the one Manmohan Singh had.
Dr Singh not only lived and experienced every historic turn of India— from the partition to the pandemic — but often, he was the one on the wheel, writes Sriram Iyer.
Manmohan Singh: A timeline of education, career, and leadership in India
Dr Manmohan Singh embarked on an extraordinary journey that significantly shaped India’s economic and political landscape. From humble beginnings, his intellectual brilliance and unwavering dedication propelled him into the global spot.
Dr Manmohan Singh’s tenure as a policymaker and leader was marked by a rare combination of intellect, integrity, and vision. Survived by his wife, Gursharan Kaur, and their three daughters, his legacy as an economist, statesman, and reformer continues to inspire future generations.
Dr Manmohan Singh: The statesman who reshaped India’s economic destiny
Dr Manmohan Singh’s economic reforms sparked the rise of a new generation of Indian entrepreneurs who capitalised on the liberated economic environment.
Freed from the constraints of the License Raj, these entrepreneurs brought innovation, efficiency, and global competitiveness to the forefront. Icons like Narayana Murthy, Azim Premji, and Sunil Bharti Mittal became emblematic of this wave, building globally recognised companies in technology, telecom, and consumer services.
This entrepreneurial renaissance not only boosted economic growth but also created millions of jobs, driving social mobility and transforming India into a vibrant, opportunity-rich economy, writes Srinath Sridharan.
#StockMarket
Reliance Industries to Trent and Asian Paints — 10 Nifty stocks that made records in 2024
Quite a year it has been for the Nifty 50 index in 2024. The index has gained 9% so far this year. But there are some stocks that have made records, but not necessarily in a good connotation.
Here is a look at some of these names:
Shares of worst Nifty performer of 2024 gain on plans to sell 70% of MFI bad loans
Shares of IndusInd Bank Ltd. gained as much as 3% on Friday, December 27, after the Mumbai-based private lender announced plans to sell part of its microfinance loans.
Shares of IndusInd Bank are up 3.5% and are among the top gainers on the Nifty 50 index on Friday. However, on a year-to-date basis, the stock is down 42%, making it the worst-performing stock on the index this year.
Concord Enviro, Sanathan Textiles, DAM Capital Advisors, Transrail Lighting, and Mamata Machinery: All 5 stocks list at a premium
December 27 has been the busiest Friday for the exchanges with as many as five IPOs (initial public offering) getting listed in a single day.
All five companies maintained a healthy premium in the unlisted market, reflecting favourable sentiment ahead of their listings.
Tata Group to add another half-million jobs in next five years
Tata Group Chairman N Chandrasekaran is looking forward to 2025 with hope and optimism. In his New Year message to employees, Chandrasekaran said the conglomerate plans to add another half-million jobs in the next five years.
The group currently employs over one million people, with Tata Consultancy Services (TCS) accounting for 60% of the total workforce. Tata Steel comes in a distant second with a headcount of 78,321.
Chandrasekaran said these jobs will be spread across key sectors such as semiconductors, electric vehicles, solar equipment, and other critical hardware industries. He also touched on the year’s geopolitical upheavals, including ongoing conflicts in Ukraine, Gaza, and Sudan, and the growing focus on resilience over efficiency in global supply chains.
#Economy
FinMin sees FY25 growth at 6.5%, cites capex, policy, hiring woes for H1 slowdown
The government is pencilling around 6.5% GDP growth for FY25, against the 6.5%-7% estimate projected in the July Economic Survey.
While the growth estimate appears to have been recalibrated on the lower side of the earlier growth range, the government’s commentary on the domestic economy’s health is positive.
It says rural demand remains resilient as reflected in 2, 3-wheeler and tractor sales and urban demand is picking up with robust growth in passenger vehicle sales and air passenger traffic. Consequently it “expects the economy to grow at around 6.5% in real terms in FY25”.
Outlook for the third quarter is bright, farm sector outlook is optimistic and hopefully, food price pressures will decline gradually, the finance ministry observes. “Therefore, there are good reasons to believe that the outlook for growth in H2 of FY25 is better than what we have seen in H1”, during which GDP expanded by 6%.
#PersonalFinance
How credit card deals and restaurant offers are transforming the dining experience
Dining offers and credit card promotions have become crucial in the modern dining landscape, benefiting both restaurants and consumers. These offers help restaurants boost footfall, enhance customer experiences, and provide value, while dining apps and credit cards continue to evolve with more targeted deals.
Dining offers, whether cashback, discounts, or loyalty points, are essential both to attract new customers and retain regulars. The rise of dining apps and credit cards has given consumers more options to maximise their dining experiences.
Home Loans in 2024 | Stability prevails, but will rates drop in 2025?
The home loan market has proven its resilience in 2024. The demand for home loans remained robust, supported by government schemes, monetary policies, and changing buyer preferences.
Now, as we look ahead to 2025, experts are optimistic about the future of the sector, with some expecting key developments that could impact borrowers.
We’ll see you on Monday with another edition of 11:11
