Expresso Business and Finance News Highlights of the Week on 16 June 2024

The week of 16 June 2024 brought several key highlights in the world of business and finance. Here are the top stories:

1. India’s retail inflation rose to a three-month high of 5% in May, driven by increased prices of vegetables and pulses. This marks a significant increase from the previous month and the same period last year. Economists are closely watching the release of the CPI data for May to gauge the impact on the overall index.

2. The Centre revealed cost overruns exceeding Rs 5.5 lakh crore in 448 infrastructure projects in April 2024. This surge in cost overruns highlights the challenges faced in executing large-scale projects. The original cost estimates have been significantly surpassed, leading to delays in project completion.

3. Adani Group offered renewable power at a competitive rate of LKR 24.75 per unit in Sri Lanka, setting up two wind power projects totaling 484 MW. This move is expected to provide affordable and sustainable energy solutions in the country, contributing to its renewable energy goals.

4. Nestle India decided to maintain its royalty rate at 4.5% to its parent company, Société des Produits Nestlé, after facing shareholder opposition to a proposed increase. This decision reflects the company’s commitment to stakeholder feedback and transparency in its operations.

5. Tier-2 cities in India are experiencing a surge in real estate growth, driven by economic diversification and increased consumer demand. These cities are rapidly catching up with their Tier-1 counterparts, offering attractive investment opportunities in retail, warehousing, and residential segments.

6. A report by Accenture revealed that consumers in India feel overwhelmed by the abundance of choices and advertising in the market, leading to decision fatigue and abandoned purchases. This highlights the need for brands to streamline their offerings and communication to better engage with consumers.

7. Indian universities will now be allowed to offer admissions twice a year, starting from the 2024-25 academic session. This move aims to provide students with more flexibility and opportunities for higher education, aligning with global practices and enhancing employment prospects for graduates.

Overall, the business and finance landscape in India is evolving rapidly, with key developments shaping the future of various sectors and industries. Stay tuned for more updates on Expresso Business and Finance News.