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Hello everyone! Good day! 

Let us dive into some news from past week 

Dive in!

India's Debt Market Opens Doors for Retail Investors

Lowering the minimum investment in the Indian debt market from 10 lakh to 1 lakh and now to 10,000 is a strategic move aimed at making the market more accessible to retail investors. This shift allows investors to integrate bonds into their portfolios for stability, reduced risk, and steady returns. High-rated A and AA category bonds currently offer a 10-11% fixed return, making them a compelling choice. Following the elimination of tax advantages for debt mutual funds, bonds have become a preferred option among debt instruments. 

The introduction of Online Bond Platforms (OBP) to expand access to bond investments and stricter regulations on unlisted bonds reflect the regulator’s commitment to market growth and investor protection. For bond issuers, the smaller investment increments open up a larger investor base, allowing them to diversify their pool and lower capital costs. 






India's Manufacturing PMI Shows Strong Second-Best Improvement in April 

In April, Indian manufacturers experienced strong demand for their products from both domestic and international clients. Total new orders increased significantly, representing the second-fastest growth rate since the start of 2021. While the manufacturing PMI decreased slightly from March’s 16-year high of 59.1 to 58.8 in April, it still remained well above the neutral mark of 50.0 and the long-term average of 53.9. 

According to a report by S&P Global, the seasonally adjusted HSBC India manufacturing PMI indicated the second-best improvement in the sector's health in three-and-a-half years. New export orders also saw a significant rise in April, though the rate was lower compared to total sales, indicating that domestic demand was the primary driver of growth. External demand came mainly from Asia, Australia, Europe, and the Americas. 


India Faces Severe Heatwave as Temperatures Soar 

India is facing intense heatwaves across various stations. The India Meteorological Department reported that 155 stations across India registered maximum temperatures of 40 degrees Celsius or higher. Many eastern, western, and southern parts of the country have been issued "red alerts" due to extreme heat. 

Many areas in Odisha, Andhra Pradesh, Gangetic West Bengal, Bihar, and Uttar Pradesh are experiencing temperatures exceeding 44 degrees Celsius. In interior parts of Karnataka, Raichur and Kalaburagi recorded maximum temperatures of 43 degrees and 42.9 degrees, respectively, with hot and humid conditions. 

The IMD cautioned that the heatwave may worsen before it improves. By early May, heatwaves had already been linked to nearly 36 deaths in the affected regions. 

The ongoing heat is expected to cause widespread damage to crops, further impacting the lives of farmers who have already faced significant challenges in recent years. This has led to large-scale protests by farmers in India, demanding government assistance. 


More news from the week ...

  • The Surge in ATF Prices and Dip in LPG Costs : The price of aviation turbine fuel (ATF) has increased by Rs 749.25 per kilolitre, or 0.7%. Prices vary across states due to local taxes. In addition, oil companies have lowered the price of commercial LPG by Rs 19, now priced at Rs 1,745.50 for a 19-kg cylinder. This price reduction does not affect the rates of cooking gas for domestic households. 

  • India's Online Retail Surge : India ranks as the world's second-largest internet market and is on track to become the third-largest online retail market by 2030, with projected sales of $325 billion and an impressive 881 million internet users. This growth is being driven by the rapid expansion of India's digital economy. 

  • Bengaluru Secures Highest Realty Funding : In the first quarter of the financial year, Bengaluru's real estate market attracted the highest funding among India's top eight markets, capturing 63% of the total share with Rs. 5,743 Crore in investments.

  • Inheritance Tax : Rich Avoid, Middle Class Pay: Sam Pitroda's proposal for an inheritance tax would impose taxes on assets inherited from deceased relatives. Critics say this policy could stifle economic growth and limit opportunities for young Indians. Wealthy individuals may avoid the tax by using exempt assets or transferring wealth before their death. 

Check out the awesome content from Ambrela 

Visual of the Week

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JIDU made a notable debut at Mobility Live ME 2024, showcasing its AI-powered pure electric SUV, JIYUE 01, for the first time internationally. This presentation highlighted the advanced capabilities of Chinese intelligent vehicles in the region. JIDU is a collaborative venture between Chinese tech giant Baidu and car manufacturer Zhejiang Geely Holding Group. JIDU's first ROBOCAR, JIYUE 01, stands out for its bold design, exceptional driving performance, and cutting-edge intelligence. It is the first vehicle worldwide to incorporate a large AI model directly into the car. 

Test you knowledge !

What was the highest temperature ever recorded in India? 

[A]   46°C

[B]   50.6°C 

[C]   51°C

[D]   49°C

On May 19, 2016, Phalodi in Rajasthan experienced a record-breaking temperature of 51°C. This was the highest temperature ever recorded in Rajasthan and the third-highest globally that year. 

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