23 Jul 2022
India recently created a world record.
The National Highway Authority of India was the fastest in the world to complete a 75-kilometer long highway in 105 hours, or less than five days.
Gross non-performing assets in the Indian banking system, or bad loans as they are known as, fell to their lowest level in six years in March, the Reserve Bank of India said.
India has also seen a year-on-year growth in both railway freight and power consumption in the month of June.
The Goods and Services Tax Regime, which recently completed five years of implementation, saw a collection of Rs. 1.44 Tn in June.
The monthly GST collections is more than Rs. 1.40 Tn rupees for fourth month in a row.
Now, let us see India Inc from another perspective.
The Nifty 50 and Sensex are down more than 10% from their all-time highs, while the Indian rupee has slipped to record lows against the dollar.
Foreign institutional investors have been aggressive sellers, especially of equities, in India.
Meanwhile a spike in inflation is eroding the purchasing power of consumers, which could lead to a slowdown in growth.
The RBI meanwhile, is looking to hike interest rates as it aims to bring inflation under control.
Why are we discussing this?
As investors – it is easy to be distracted by the current events, especially if it is not favourable.
This often leads to one selling assets in a falling market, when all that is needed is to focus on the long-term picture, and to remain disciplined.
Happy investing!!
Sources: ndtv.com, energy.economictimes.indiatimes.com, livemint.com, businesstoday.in, business-standard.com, zee news
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