Factory Activity Picks Up While Business Optimism Falls; Air India, BPCL, ConCor Disinvestments Unlikely To Be Completed This Fiscal

Factory activity picks up while business optimism falls. Air India, BPCL, ConCor disinvestments "unlikely" to be completed this fiscal.

 

INDIAN ECONOMY

Factory activity picks up while business optimism falls.

Mixed Signals: In December, India's factory activity expanded at its fastest pace in seven months, the Nikkei Manufacturing Purchasing Manager's Index showed.

 

The index rose to 52.7 last month, from November's 51.2. It was the highest reading since May and remained above the 50-mark that separates growth from contraction.

 

At the same time, though, business optimism about output over the coming 12 months fell to a three-year low. Reuters

Air India, BPCL, ConCor disinvestments "unlikely" to be completed this fiscal.

The Art of Running Backwards: The strategic disinvestments in Air India, BPCL and Container Corporation are "unlikely" to be completed this fiscal, a senior government official has said, as reported by Financial Express. The process is reportedly facing delays due to "surprises" encountered. With the fiscal deficit already reaching 115% with four months to go and most of the government's disinvestment goals for this fiscal yet to be achieved, this does not bode well for fiscal arithmetic.

FIN.

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