EAC-PM suggests deregulating timber cultivation; proposes measures to make India a net exporter
Posted on: 28 Sep, 01:19 PMThe Economic Advisory Council to the PM has recommended deregulating the felling and transit of high-value timber trees like Teak, Gurjan, and Mernati. This move aims to transform India from a timber importer to an exporter, boosting farmers' income and improving soil carbon content.
RBI expected to start rate cut cycle from December this year: UBS
Posted on: 28 Sep, 01:19 PMThe Reserve Bank of India's Monetary Policy Committee (MPC) is anticipated to begin easing interest rates in December 2024, according to a UBS report. This expectation arises from an improving domestic inflation outlook, projected to be 30 basis points lower than the RBI's forecast of 4.5% for FY25, along with a global trend of monetary easing.
Dear Indian economy, here're five questions for you on a curious case and goldilocks
Posted on: 28 Sep, 01:19 PMIndia is poised to become the world's third-largest economy, but challenges like inflation, job creation, and repo rates persist. UBS highlights concerns such as K-shaped consumption patterns, shifting household savings, and fiscal profligacy in states. The RBI may cut rates soon to address these issues.
What clamour for Coldplay tickets says about India's economy
Posted on: 28 Sep, 01:19 PMColdplay's 2025 Mumbai concert tickets sold out in 30 minutes, leading to high resale prices. This reflects India's rising disposable incomes and a trend of premium consumption. The middle class and affluent households are growing, with a shift towards luxury goods across various sectors, even as rural markets face stress.
Forex reserves rise $2.8 billion to a new high of $692.3 billion
Posted on: 28 Sep, 01:19 PMThe Reserve Bank of India's foreign exchange reserves reached a new high of $692.3 billion in the week ending September 20, driven by a $2 billion surge in foreign currency assets. Foreign investors contributed $10.9 billion to Indian stocks and bonds this month, marking the highest monthly inflow this year.
Oil steady but set for weekly drop on higher supply outlook
Posted on: 28 Sep, 03:19 AMBy Georgina McCartney HOUSTON (Reuters) -Oil prices were steady on Friday, but remained on track for a weekly fall as investors weighed expectations for higher global supply against fresh stimulus
Stocks rise on US inflation data, China stimulus; yields dip
Posted on: 28 Sep, 03:19 AMBy Caroline Valetkevitch and Sruthi Shankar NEW YORK/LONDON (Reuters) - Global stock indexes hit all-time highs on Friday after China's central bank lowered interest rates and injected liquidity into
SBI aims to become first financial firm to cross milestone of Rs 1 lakh crore profit: Chairman
Posted on: 28 Sep, 03:19 AMNew Delhi, Sep 25 (PTI) State Bank of India (SBI) is aiming to become the first Indian financial firm to cross a milestone of Rs 1 lakh crore net profit in the next 3-5 years, chairman of the country’s largest lender C S Setty has said. SBI recorded a standalone net profit of Rs 61,077 […]
10 yrs of 'Make in India' & the manufacturing sector is back to where it was in 2013-14
Posted on: 28 Sep, 03:19 AM'Make in India' launched to make India manufacturing hub. On its 10th anniversary, it illustrates 'collective resolve of 140 crore Indians'.
10 yrs ago, battery leasing failed to boost demand for EV cars in India. Now, it's making a comeback
Posted on: 28 Sep, 03:19 AMUnder this model, battery is provided to EV owners on a subscription basis or lease. With more people open to buying EV cars, the lower upfront cost could likely drive wider acceptance.
Unemployment rate remains unchanged in 2023-24 at 3.2%: PLFS
Posted on: 24 Sep, 09:19 AMIndia's unemployment rate in 2023-24 remained steady at 3.2%, with rural areas seeing a slight increase to 2.5% and urban areas experiencing a decline to 5.1%. Female labour force participation rose to a seven-year high of 41.7%, while male participation also reached a seven-year high at 78.8%.
At FATF, India pushes to bring online gaming companies under strict framework
Posted on: 24 Sep, 09:19 AMIndia is advocating for online gaming companies to be included under anti-money laundering and counter-terrorism financing frameworks. The government is pushing for strict Know Your Customer norms and reporting of suspicious transactions, citing concerns over illicit funds laundered through platforms like Mahadev Apps. This will be discussed at the next FATF meeting in Paris.
Piyush Goyal seeks more investments from Australian pension funds for renewable energy, fintech, agritech
Posted on: 24 Sep, 09:19 AMCommerce and industry minister Piyush Goyal has urged Australian pension funds to invest in India's renewable energy, manufacturing, education, fintech, and agritech sectors. He highlighted India's digitalisation growth and potential for collaboration in data infrastructure and coastal tourism during his visit to Australia. Goyal also discussed critical minerals sector cooperation with Tania Constable, CEO of the Minerals Council of Australia.
From Peels to Fuel: Potatoes may soon quench thirst of your car
Posted on: 24 Sep, 09:19 AMThe Central Potato Research Institute plans to establish a pilot plant to convert potato waste into ethanol. India, the world's second-largest potato producer, faces significant post-harvest losses. The plant will be set up in high-production regions like Uttar Pradesh or West Bengal, using potato waste and substandard potatoes for ethanol production.
'Under a strong leadership, India can hit $7-trillion target by 2030', says JPMorgan CEO Jamie Dimon
Posted on: 24 Sep, 09:19 AMIndia's goal to become a $7-trillion economy by 2030 is achievable, says JPMorgan CEO Jamie Dimon. With Prime Minister Modi's strong leadership and infrastructure initiatives, multinationals are investing in advanced manufacturing. The government aims for over 7% annual growth, supported by PLI schemes and semiconductor plant setups.
Sustainiam to generate carbon credits for 400MW renewable assets of Brookfield Asset Management
Posted on: 23 Sep, 11:19 PMNew Delhi, Sep 23 (PTI) Sustainiam on Monday said it has onboarded 400 MW renewable assets from Brookfield Asset Management to generate carbon credits as part of an agreement. A business entity or group earns a carbon credit by decarbonising its operations. At present, it is a growing market across the globe, “We have onboarded […]
Rupee ends flat after hitting 3-month peak; oil firms' dollar bids weigh
Posted on: 23 Sep, 11:19 PMBy Jaspreet Kalra MUMBAI (Reuters) - The Indian rupee ended flat on Monday as dollar demand from local oil companies pulled the currency off a near three-month high, hit due to likely portfolio
Euro drops as glum PMI readings stoke bets of more ECB easing
Posted on: 23 Sep, 11:19 PMBy Sruthi Shankar and Vidya Ranganathan LONDON/SINGAPORE (Reuters) - The euro fell sharply against the dollar on Monday, as business activity readings painted a grim picture of the euro zone economy
Gold slips on profit-taking; geopolitical tensions support key level
Posted on: 23 Sep, 11:19 PMBy Polina Devitt LONDON (Reuters) - Gold fell on Monday after hitting a record high as a stronger dollar prompted some investors to book profits, but strong market sentiment and geopolitical tensions
Why merged Air India-Vistara entity will likely fall short of challenging behemoth Indigo
Posted on: 23 Sep, 11:19 PMAir India owners Tata Group will have 300-strong fleet post-merger, but IndiGo with its 382 aircraft is in another league, say some. Others point out what could work in Air India's favour.
India, S Korea start sharing bill of lading electronically to promote trade: DGFT
Posted on: 20 Sep, 05:19 AMIndia and South Korea have initiated electronic transfer of the bill of lading between their customs, enhancing ease of doing business. This digital move eliminates the need for physical record submissions, expected to be fully adopted in 1-1.5 years. UNCITRAL is spearheading this global shift towards electronic trade documentation.
Indian economy will probably be 90 to 100% larger than China by end of century: John Chambers
Posted on: 20 Sep, 05:18 AMJohn Chambers, Chairman Emeritus of CISCO, expresses optimism about the future of the Indian economy and the India-US partnership. He believes that collaboration between the two nations will significantly boost their economies. Chambers also discusses PM Modi's third term and highlights India's potential to become a major global economic player.
US 'concerned over export of iCET dual-use items to Russia'
Posted on: 20 Sep, 05:18 AMThe US has expressed concerns over alleged exports of dual-use items from India to Russia, fearing that sensitive technology shared under the Initiative on Critical and Emerging Technologies (iCET) might reach Russia. India maintains an impeccable track record in handling sensitive products, with no complaints of technology pilferage from any side.
Cosmo Film case: Gujarat HC order to provide relief to importers
Posted on: 20 Sep, 05:18 AMThe Gujarat High Court has ruled that Notification No. 54/2018 will apply prospectively, providing relief to Indian importers under investigation for availing dual benefits. This decision corrects previous retrospective demands and offers clarity on import transactions, though the issue of interest remains unresolved.
Fed rate cut positive, but may not have big impact on capital inflows: Top FinMin officials
Posted on: 20 Sep, 05:18 AMEconomic affairs secretary Ajay Seth sought to delink the Fed rate cut from any potential action by the Reserve Bank of India (RBI). The Fed has done what it feels to be the best for the US economy and the RBI will be guided more by the domestic reality, Seth said. Separately, chief economic adviser V Anantha Nageswaran said at an event that much of the Fed action was factored in by investors and its impact on India could be more muted than on other emerging economies, as the domestic market has already been generating a lot of investor interest.
Govt undertook many reforms for food processing sector growth: PM
Posted on: 19 Sep, 07:18 PMNew Delhi, Sep 19 (PTI) Prime Minister Narendra Modi on Thursday said the government has undertaken many reforms in the last 10 years for the growth of the food processing sector and the effort is to ensure that India sets global benchmarks for innovation, sustainability and safety in the food sector. The Prime Minister’s message […]
US Fed rate cut unlikely to impact foreign inflows into India: Economic Affairs Secretary Ajay Seth
Posted on: 19 Sep, 07:18 PMNew Delhi, Sep 19 (PTI) The US Fed rate cut of 50 basis points is unlikely to have any significant impact on foreign inflows into India, Economic Affairs Secretary Ajay Seth said on Thursday. He said the US Federal Reserve has done what it assesses is good for the largest economy in the world, but […]
Dollar edges lower after Fed goes big on rate cut, Aussie jumps
Posted on: 19 Sep, 07:18 PMBy Stefano Rebaudo and Rae Wee (Reuters) -The U.S. dollar edged lower on Thursday after a larger than usual interest rate cut from the U.S. Federal Reserve that had been priced in by markets. The Fed
SC dismisses telecoms' curative pleas for recalculation of AGR dues
Posted on: 19 Sep, 07:18 PMNew Delhi [India], September 19 (ANI): The Supreme Court has dismissed the curative pleas of telecom companies seeking correction of alleged errors in the computation of Adjusted Gross Revenue (AGR) dues payable by them. “Application for listing the Curative petitions in open court is rejected. We have gone through the curative petitions and the connected […]
India’s growth engines have moved from north to south, with states like Karnataka & AP in driver's seat
Posted on: 19 Sep, 07:18 PMA working paper, published by Economic Advisory Council to PM, shows that UP & Bihar used to be ‘powerhouses’ of India’s economy around 60 yrs ago, but that's no longer the case.
Higher freight costs, container import dependence hurt India’s exports: GTRI
Posted on: 16 Sep, 01:18 AMIndia needs to boost container production, promote domestic use, strengthen shipping firms, and enhance port infrastructure. High freight costs, container shortages, and reliance on foreign carriers challenge exports. Domestic shipping handles only 5-10% of trade volume, with heavy dependence on Chinese containers making India vulnerable to supply disruptions.
Inter-dept panel may be set up to ensure compliance by online gaming platforms
Posted on: 16 Sep, 01:18 AMAn inter-departmental committee may be formed to regulate online gaming platforms and ensure compliance, according to a DGGI report. The GST intelligence wing has taken action against 118 domestic entities and issued notices involving Rs 1,10,531.91 crore. Offshore entities are also under investigation for non-compliance.
GST Council forms GoM to review tax rate on health, life insurance; report by Oct 30
Posted on: 16 Sep, 01:18 AMThe GST Council has formed a 13-member Group of Ministers to recommend GST rates on health and life insurance premiums. Bihar Deputy Chief Minister Samrat Choudhary will lead the panel, which includes members from various states. The group is expected to submit its report by October 30, with a final decision likely in November.
Out of Rs 1.5 lk crore, govt approves Rs 46k crore as capex loans to states
Posted on: 16 Sep, 01:18 AMThe Centre has sanctioned ₹46,000 crore in capex loans to states out of the ₹1.5 lakh crore allocated for FY25. Of this, ₹25,000 crore has been released. States must meet specific performance criteria to receive further funds, including achieving a 10% growth in capex.
Oil India to commence drilling in Andaman offshores as part of exploration efforts
Posted on: 15 Sep, 03:18 PMNew Delhi [India], September 15 (ANI): Oil India Limited Chairman and Managing Director, Ranjit Rath, said that the state-owned company is going to commence drilling activities in Andaman and Nicobar offshore waters, as part of its exploration efforts. Asked about the volatility in crude oil prices and how Oil India looks at it, the CMD […]
USFDA cites various manufacturing lapses at Zydus Lifesciences' Jarod plant
Posted on: 15 Sep, 03:18 PMNew Delhi, Sep 15 (PTI) The US health regulator has pulled up Zydus Lifesciences for manufacturing lapses at its Gujarat-based plant. In a warning letter to company’s Managing Director Sharvil Patel, the US Food and Drug Administration (USFDA) noted that the drug maker failed to investigate contamination identified in drug products at its Jarod-based plant […]
Artificial Intelligence shares, robust funding, appetite for regulation are hints it is booming: Report
Posted on: 15 Sep, 03:18 PMNew Delhi [India], September 15 (ANI): Artificial Intelligence as a technology in its current form is largely task-oriented and typically not capable of dealing with a situation where logic and reasoning are needed. But it is here to stay and it has of late become the talk of the town. Generative AI, also referred to […]
Data on unpaid labour divides economists. But they agree on one thing: real rural wages have stagnated
Posted on: 15 Sep, 03:18 PMIndia’s employment data flawed, argues economist Santosh Mehrotra, citing unpaid family labour & sectoral shifts. UFL falling as share in total workforce, counters Surjit Bhalla.
Adani wins bid to supply 6,600 MW of electricity, Rs 4.08/unit tariff beats JSW, Torrent
Posted on: 15 Sep, 03:18 PMNew Delhi, Sep 15 (PTI) Adani group has won a bid to supply 6,600 MW of bundled renewable and thermal power to Maharashtra for the long term after its quote of Rs 4.08 per unit beat the likes of JSW Energy and Torrent Power, sources said. Its bid for the bundled renewable and thermal energy […]
Govt aims to boost seafood exports to Rs 1 lakh crore/year; to strengthen foundation of fishery sector
Posted on: 11 Sep, 09:18 PMUnion Minister Rajiv Ranjan Singh announced plans to boost annual seafood exports to Rs 1 lakh crore from Rs 60,000 crore. He highlighted the government's efforts in the fishery sector, including infrastructure development and technological improvements. The government aims to strengthen the sector's foundation over the next five years for overall national growth.
India to impose up to 30% tariffs on some steel imports from China, Vietnam
Posted on: 11 Sep, 09:18 PMIndia will impose tariffs of 12% to 30% on certain steel products from China and Vietnam to protect local industry. The tariffs, targeting welded stainless steel pipes and tubes, will be in place for five years. This move follows strained relations between India and China since their 2020 border clash.
Comprehensive trade portal launched for all exports, imports info
Posted on: 11 Sep, 09:18 PMThe government has launched the Trade Connect ePlatform to streamline export and import information for entrepreneurs. Developed with various ministries and organizations, it aims to connect over 6 lakh IEC holders and provide real-time trade-related data. The portal will be updated regularly and include additional services in its second version by 2025.
India should build manufacturing economy greener than China's, says Tata Steel CEO Narendran
Posted on: 11 Sep, 09:18 PMTata Steel CEO T V Narendran emphasised the need for India to build a greener manufacturing economy than China. Speaking at the AIMA Convention, he warned that India risks losing market share if it doesn't transition quickly to green manufacturing, especially with mechanisms like the EU's carbon border adjustment tax on imports.
Govt to buy soybeans to help farmers reeling from losses
Posted on: 11 Sep, 09:18 PMIndia will purchase soybeans from farmers in Madhya Pradesh at government-set support prices to assist those affected by falling domestic rates. This move follows similar agreements in Maharashtra and Karnataka. Soybeans are crucial for producing soyoil, reducing edible oil imports, and generating soymeal for animal feed and export.
Over 1 crore fraudulent mobile connections disconnected with help of 'Sanchar Saathi': Ministry of Communications
Posted on: 11 Sep, 11:18 AMNew Delhi [India], September 10 (ANI): More than one crore fraudulent mobile connections disconnected with the help of Sanchar Saathi, the Ministry of Communications said in a statement on Tuesday. To curb the menace of spam calls, TRAI has directed telecom operators to disconnect and blacklist entities using bulk connections for spam calls, including robocalls […]
BRICS Labour Ministers' declaration calls for lifelong professional education, ensuring safe and healthy working environment
Posted on: 11 Sep, 11:18 AMSochi [Russia], September 10, (ANI): BRICS Labour and Employment Ministerial Meeting held under the Russian Presidency on 9-10 Sept adopted BRICS Labour and Employment Ministers’ Declaration. Show Full Article The Declaration recognised the need for developing: comprehensive strategies for life-long learning, vocational guidance, continuous professional education; modernisation of employment services; ensuring safe working conditions; welfare […]
Oil drops on demand outlook, Brent trades below $70, near 3-year low
Posted on: 11 Sep, 11:18 AMBy Georgina McCartney HOUSTON (Reuters) -Global oil benchmark Brent crude futures fell below $70 a barrel on Tuesday for the first time since December 2021, after OPEC+ revised down its demand
Three ways for countries to escape the ‘middle-income trap’
Posted on: 11 Sep, 11:18 AMThe World Bank says that growth prospects for middle-income countries depend on their ability to increase production through innovation, which is a difficult feat for many economies to achieve at scale.
Indian-origin cosmetics tycoon rescues The Body Shop stores in UK
Posted on: 11 Sep, 11:18 AMLondon, Sep 7 (PTI) Embattled beauty brand The Body Shop has been rescued from administration with the help of investment from Indian-origin cosmetics tycoon Mike Jatania in a deal that will keep its remaining 113 UK stores trading, it emerged on Saturday. According to the ‘Guardian’ newspaper, a consortium led by Jatania-founded growth capital firm […]
Lack of data a regulatory hurdle, says NaBFID
Posted on: 07 Sep, 05:18 PMNaBFID faces challenges in convincing regulators about higher provisioning for project loans due to lack of comprehensive data in the infrastructure sector. The Reserve Bank's proposed 5% provision on project loans is questioned by NaBFID, which is setting up an infrastructure repository to strengthen data analytics and support stakeholders.
Road ministry sets up an expert panel to review all tunnel project proposals
Posted on: 07 Sep, 05:18 PMIn a notification dated September 6, the ministry of road transport and highways said the advisory panel, comprising experts from Oil and Natural Gas Corporation (ONGC), Rail Vikas Nigam Limited (RVNL) and THIDCL, will henceforth tender expert advice during the appraisal of long tunnel projects with length more than 1.5 km.
India set to review trade pact with Malaysia as deficit grows
Posted on: 07 Sep, 05:18 PMIndia is reviewing its trade agreement with Malaysia due to a rising trade deficit, which has doubled since 2011. The review will focus on rules of origin and non-tariff barriers. Major exports include petroleum products and aluminium, while key imports are vegetable oils and electronics. Consultations with industry sectors are planned.
Revamp of Gati Shakti Cargo Terminal Policy in works to woo private players
Posted on: 07 Sep, 05:18 PMThe Indian Railways is revising its Gati Shakti Cargo Terminal policy to boost private sector involvement in freight infrastructure. New guidelines will reduce costs for private developers, aiming to double the number of terminals. Some capital expenses will now be covered by the railways, making investments more attractive.
GST cut on health insurance: You may not celebrate a likely tax cut this time
Posted on: 07 Sep, 05:18 PMThe GST Council is set to discuss reducing the high GST on health and life insurance policies. While there's consensus on lowering the tax for life insurance, concerns remain about health insurance. States worry that insurers may not pass on the savings to consumers, and there's no active anti-profiteering body to ensure this happens.
India's first silicon carbide manufacturing facility to be set up in Odisha; groundbreaking ceremony held
Posted on: 07 Sep, 07:18 AMBhubaneswar (Odisha) [India], September 6 (ANI):The groundbreaking ceremony for India’s first silicon carbide manufacturing facility to be set up by RIR Power Electronics Ltd, a leader in India’s semiconductor power electronics technology, was held today at the EMC Park, Infovalley, Bhubaneswar, Odisha. This development places India and the state of Odisha squarely at the forefront […]
Rupee rises 2 paise against US dollar
Posted on: 07 Sep, 07:18 AMMumbai, Sep 6 (PTI) The rupee gained 2 paise to close at 83.95 against the US dollar on Friday, tracking a weak greenback against major crosses overseas. However, a negative trend in domestic domestic equities and foreign fund outflows capped the gains in the local unit, forex traders said. At the interbank currency market, the […]
Blinkit, Hyperpure & now Paytm, how Zomato’s strategy to build ‘super brands’ has paid off
Posted on: 07 Sep, 07:18 AM14 years after it was established,Zomato is synonymous with food delivery, quick commerce, going out & B2B supply arms.
Singapore, India to leverage each other's strengths in semiconductor and digital tech
Posted on: 07 Sep, 07:18 AMSingapore, Sep 5 (PTI) Singapore and India on Thursday agreed to cooperate and leverage each other’s strengths in the field of semiconductor and digital technologies. The two countries exchanged a memorandum of understanding (MoU) in the presence of Prime Minister Narendra Modi and his Singaporean counterpart Lawrence Wong on the final day of Modi’s latest […]
Food makes up less than half of an Indian household's monthly bill, a first since Independence
Posted on: 07 Sep, 07:18 AMA working paper by the EAC-PM has found that monthly per capita expenditure is up across rural and urban India. But food is occupying a smaller share of this spending than before.
Work demand under NREGS down, again
Posted on: 03 Sep, 01:18 PMIn August, demand for work under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) fell for the tenth consecutive month, with 19 million individuals seeking work—a 17% decrease from the previous year. This decline is attributed to increased economic opportunities and favorable monsoon rains, which reduced the need for unskilled labor.
RBI will have its say whenever digital lending creates risk
Posted on: 03 Sep, 01:18 PMThe RBI supports digital technologies for improved customer experience and innovation, yet intervenes when digital lending poses risks. RBI Deputy Governor Swaminathan J highlighted issues with peer-to-peer lending platforms, urging the industry to view the regulator as a partner for a stable financial ecosystem. He spoke at a CNBC TV18 banking summit.
CEA V Anantha Nageswaran cautions against fin mkts swaying policy, macro outcomes
Posted on: 03 Sep, 01:18 PMChief economic adviser V Anantha Nageswaran warned against letting financial market expectations overly influence India's policy and macroeconomic decisions. He highlighted the potential risks of financialisation, referring to excessive market dominance, and emphasized the need for a balanced approach to sustain growth and avoid pitfalls seen in developed nations.
ET World Leaders Forum: Cautiously optimistic on global economy, says Rich Lesser, Global Chair, BCG
Posted on: 03 Sep, 01:18 PMRich Lesser, global chair of Boston Consulting Group, expresses confidence in the economic prospects of India and the US. BCG has seen significant growth in India and expects continued success. The US economy is also expected to remain strong regardless of the upcoming presidential election. Lesser highlights the resilience of these economies and the potential for AI and technology advancements.
World Bank raises India's FY25 growth forecast to 7%
Posted on: 03 Sep, 01:18 PMThe World Bank has increased India's growth forecast for FY25 to 7%, previously set at 6.6%. Despite a slowdown in Q1FY25 caused by reduced government spending, the economy is expected to remain strong. The RBI, Goldman Sachs, and J.P. Morgan have different growth projections, highlighting varied economic expectations globally.
Fighting fit: What it takes to build a career in boxing
Posted on: 03 Sep, 08:18 AMFitness, will and long hours of training are needed to make a mark in a sport that is gaining viewers in India
March 31 is here: Link PAN with Aadhaar, file updated ITR & submit Form 12B
Posted on: 03 Sep, 08:18 AMITR Filing: Linking PAN with Aadhaar, submission of Form 12B are other tasks that must be completed be before this date
Global stocks start September in cautious mood
Posted on: 03 Sep, 03:18 AMBy Harry Robertson and Wayne Cole LONDON/SYDNEY (Reuters) -Share markets fell slightly on Monday as investors braced for a data-packed week culminating in a U.S. jobs report that could decide whether
India's Adani Green approves pacts for $444 million TotalEnergies JV investment
Posted on: 03 Sep, 03:18 AMBENGALURU (Reuters) - India's Adani Green Energy said on Monday that its board has approved agreements that would enable a TotalEnergies affiliate to invest $444 million to form a new joint venture
Himachal CM Sukhu & his ministers give up salary for 2 months, but state’s fiscal troubles run far deeper
Posted on: 03 Sep, 03:18 AMAs govt employees agitate for pending allowances worth crores, Himachal faces mounting debt, limited revenue sources, losses due to rains and limited support from Centre.
Trying to fly Vistara after November? It's Air India you will get as merger plan reaches conclusion
Posted on: 03 Sep, 03:18 AMAir India: The aircraft, schedule & crew will remain unchanged until early 2025 of the merger between Air India and Vistara.
253788% —that's no typo, it's how much India's petroleum exports to Europe have risen since 2018
Posted on: 03 Sep, 03:18 AMIn terms of value, India’s petroleum exports to key European markets saw 250% growth, driven by pandemic-related factors & then Ukraine war.
MPC should pay more heed to core inflation, says outgoing member Ashima Goyal
Posted on: 28 Aug, 04:00 AMAshima Goyal, a member of India's Monetary Policy Committee, emphasized the importance of focusing on core inflation for long-term household inflation expectations. She suggested that the committee should provide guidance on liquidity conditions. Goyal highlighted that recent interventions in India's monetary policy have helped lower inflation and stressed the need for supply-side action to ensure non-inflationary growth.
RBI looks to soften blow of tighter infrastructure funding rules
Posted on: 28 Aug, 04:00 AMRBI is considering a phased approach to increasing provisioning for project financing to ease the impact on lenders and protect profitability. Projects nearing completion may receive some leniency. Despite pushback from lenders and the finance ministry, the RBI is committed to raising provisions to address risks in a sector known for delays, while avoiding cost escalations that could jeopardize project viability.
GST rationalisation: Review going on, a rate reset may come by September end
Posted on: 28 Aug, 04:00 AMGST rate rationalisation: The group of ministers has postponed restructuring tax slabs, but has continued to review rates for items in the 12% and 18% brackets. They are considering sectors like health insurance, restaurants, and some food products. Final decisions on specific goods and services are anticipated by the end of September.
India-Oman free trade pact talks at advanced stage: Official
Posted on: 28 Aug, 04:00 AMIndia and Oman are close to finalizing a Comprehensive Economic Partnership Agreement (CEPA) to increase bilateral trade and investments. The agreement would benefit Indian exports, including textiles and pharmaceuticals, by eliminating duties. Improved direct shipping links were also discussed to reduce trade costs and enhance economic ties.
Currencies tread water as Middle East risks temper rate cut optimism
Posted on: 27 Aug, 06:00 PMBy Rae Wee SINGAPORE (Reuters) - The dollar edged higher on Tuesday and major currencies traded sideways as lingering concerns over tensions in the Middle East partially offset investors' optimism for
Asian stocks slide as geopolitical worries sap confidence
Posted on: 27 Aug, 06:00 PMBy Ankur Banerjee SINGAPORE (Reuters) - Asian stocks fell on Tuesday as investors pondered looming U.S. interest rate cuts and awaited earnings from AI darling Nvidia, while rising tensions in the
Janmashtami festivities drive business across India, sales exceed Rs 25,000 crore: CAIT
Posted on: 27 Aug, 06:00 PMNew Delhi [India], August 27 (ANI): Janmashtami festivities across the country led to a business surge, with transactions exceeding Rs 25,000 crore, according to the Confederation of All India Traders (CAIT). These figure highlight the robust consumer spending during the festival driven by the vibrant celebrations of Janmashtami, marking one of the most commercially active […]
Indians buying smaller shampoo packs, less noodles & clothes. What’s halted FMCG sector’s revival
Posted on: 27 Aug, 06:00 PMFast-moving consumer goods companies, most of which derive big share of earnings from rural markets, struggling to meet sales targets. Consumers buying cheaper products, smaller packs.
Report on high unemployment among Indian youth missing from its website, ILO says 'technical glitch'
Posted on: 27 Aug, 06:00 PMThe India Employment Report 2024, released in March this year, had painted a dire picture of India’s labour landscape, reportedly to the displeasure of the Indian govt.
India's Forex reserves increase by $4.54 bn to $674.66 bn as of August 16
Posted on: 24 Aug, 12:00 AMIndia's Forex reserves saw an increase of $4.54 billion to reach $674.66 billion as of August 16, according to the RBI. Foreign currency assets (FCAs) grew by $3.61 billion to $591.57 billion, while gold reserves surged by $865 million to $601.04 billion. SDRs rose by $60 million to $18.34 billion, and the Reserve position in the IMF increased by $12 million to $4.65 billion.
Potato, rice prices drop amid supply glut, market shifts
Posted on: 24 Aug, 12:00 AMPrices of two major food items, potato and rice, have decreased. Potato prices fell by 8% in 20 days due to an oversupply caused by West Bengal halting interstate movement briefly. Similarly, rice prices dropped as kharif crop expectations were good and global competition drove down export prices.
USD 13 billion investments in space sector added USD 60 billion to India's GDP: Report
Posted on: 24 Aug, 12:00 AMIndia has invested approximately USD 13 billion in the space sector in the last decade, resulting in a significant contribution of USD 60 billion to the GDP. This has led to the creation of 4.7 million jobs and a boost in the revenues of the space sector. The country aims to achieve further milestones such as commissioning the Bharatiya Antariksha Station and landing Indian astronauts on the Moon. The government's supportive policies and initiatives are fostering a conducive environment for private companies to thrive in the space industry, positioning India as a potential global space leader.
US India's top trade partner in first half of the year; max deficit with China
Posted on: 23 Aug, 11:59 PMThe United States emerged as India's leading trading partner in early 2024, although the country experienced a record trade deficit of $41.6 billion with China. India's merchandise exports increased by 5.41%, led by sectors such as iron ore and pharmaceuticals, while services exports grew by 6.9% to $178.2 billion, says GTRI.
DGGI drops ₹3,000 crore tax demand on 18 foreign shipping firms for FY18
Posted on: 23 Aug, 11:59 PMThe Directorate General of Goods and Services Tax Intelligence (DGGI) dropped a ₹3,000 crore tax demand for 2017-18 against 18 foreign shipping companies, following their joint declaration of no service imports in that year. However, the tax demand for subsequent years remains pending, with ongoing investigations and further decisions awaited from the GST Council.
Oil prices settle $1 up on hopes of a US Fed rate cut next month
Posted on: 23 Aug, 02:00 PMBy Nicole Jao (Reuters) -Oil prices settled up more than 1% on Thursday, as expectations for a U.S. interest rate cut in a few weeks fueled a rebound after four days of price declines. Brent crude
AstraZeneca warns of moving UK vaccine production to US, FT reports
Posted on: 23 Aug, 01:59 PM(Reuters) -AstraZeneca has warned it could relocate its vaccine manufacturing site from the UK to the U.S. amid a deadlock with the new Labour government over plans to cut state aid, the Financial
AstraZeneca warns of shifting UK vaccine production to US, FT reports
Posted on: 23 Aug, 01:59 PM(Reuters) -AstraZeneca has warned it could relocate its vaccine manufacturing site from the UK to the U.S. amid a deadlock with the new Labour government over plans to cut state aid, the Financial
Oil set to end week lower on demand concerns, easing supply woes
Posted on: 23 Aug, 01:59 PMBy Shariq Khan (Reuters) - Oil prices were steady in early Asian trading on Friday, but were poised to end the week lower as downward revisions to U.S. employment data raised demand concerns and
‘Overambitious’ car manufacturers pose risk to India’s auto market despite no dearth in demand
Posted on: 23 Aug, 01:59 PMAutomobile dealers’ body asserts there has been no slowdown in demand, but original equipment manufacturers are dumping vehicles for which there is stock already available.
Finance Ministry should identify high risk taxpayers in GST composition scheme: CAG
Posted on: 19 Aug, 07:59 PMThe Comptroller and Auditor General (CAG) has recommended that the Finance Ministry periodically identify high-risk taxpayers within the GST composition scheme and verify their sales data from various sources to prevent tax evasion. An audit of 8.66 lakh taxpayers from 2019-20 to 2021-22 revealed that many had a high risk of exceeding the scheme's turnover threshold.
India aims to expand scope of ESG debt as nation notches record
Posted on: 19 Aug, 07:59 PMIndia's market regulator, SEBI, planned to broaden its sustainable finance framework by including social and sustainability-linked bonds. With India's ESG debt issuance reaching record levels in 2023, the changes were intended to support Prime Minister Narendra Modis green growth initiatives and address a reduction in Chinese issuances impacting the global market.
Innerwear sales indicate economic turnaround is here to come
Posted on: 19 Aug, 07:59 PMCompanies such as Page Industries and Arvind Fashions have reported a surge in inner wear sales, reflecting economic optimism. Increased footfall, better inventory management, and digital expansion contributed to this trend. With positive signs like slowing inflation and normal monsoon progress, the demand for men's underwear and overall inner wear hints at a broader economic recovery.
RBI for periodic revision of deposit insurance coverage
Posted on: 19 Aug, 07:59 PMRBI Deputy Governor M Rajeshwar Rao indicated the need for periodic increases in the deposit insurance coverage limit due to factors such as inflation and income growth. He noted that 97.8% of accounts in India are fully protected, surpassing the global standard of 80%. He also discussed the possible challenges of implementing risk-based premiums in India's varied banking sector.
India might need more cautious monetary policy to stem food price rise spillover, RBI says
Posted on: 19 Aug, 07:59 PMThe Reserve Bank of India indicated that persistent high food prices could require a more cautious monetary policy. Although retail inflation fell in July, the central bank anticipated it would rise again due to ongoing food price pressures. Climatic shocks were cited as a major factor behind the stubbornly high food prices, raising concerns about broader inflation trends.
Tin prices may remain higher this fiscal suggests NSE data
Posted on: 19 Aug, 09:59 AMNew Delhi [India], August 18 (ANI): Tin metal has emerged as the top performer in the commodity market, showing exceptional growth compared to other metals so far in 2024. According to a report from the National Stock Exchange, Tin has appreciated by a remarkable 27.2 per cent so far this year by June 25, it […]
Rakhi festive sales expected to surge over Rs 12,000 crore: Confederation of All India Traders
Posted on: 19 Aug, 09:59 AMNew Delhi [India], August 18 (ANI): The Confederation of All India Traders (CAIT) on Sunday anticipated a festive trade of over Rs 12,000 crore across the country during the Rakhi festival. The trade body said that the markets are witnessing a massive rush for Rakhi shopping, and people are very enthusiastic about the festival. It […]
RINL CMD Atul Bhatt thanks Andhra CM for extending Garbham Manganese Mine lease
Posted on: 19 Aug, 09:59 AMNew Delhi [India], August 18 (ANI): Chairman and Managing Director of Rashtriya Ispat Nigam Limited Atul Bhatt on Sunday thanked Andhra Pradesh Chief Minister N Chandrababu Naidu for his instrumental role in extending the lease of RINL’s Garbham Manganese Mine, the Ministry of Steel said in a statement. The extension of the mine lease by […]
Demonetisation failure? Rs 500 & Rs 2,000 notes together make up 50% of counterfeit notes detected
Posted on: 19 Aug, 09:59 AMMinistry of Finance informed Parliament govt implemented demonetisation to reduce incidence of fake notes. But counterfeiting of high value currency has risen sharply, fresh data shows.
What the cluck! Punjabis aren’t butter chicken fiends, their meat consumption is among India’s lowest
Posted on: 19 Aug, 09:59 AMAccording to govt data, Punjab is among the bottom five states in terms of chicken consumption, with Haryana & Rajasthan. However, Punjabis consume high amounts of milk & dairy products.