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NEW DELHI: India, the world’s third biggest oil importer and consumer, will in the second half of the decade become the driver of global oil demand, the International Energy Agency (IEA) said Wednesday, forecasting rise in consumption by a massive 1.3 million barrels between 2023 and 2030. In its...
NEW DELHI: Government measures such as mandatory quality control orders and increasing customs duty have helped boost exports of toys from India, but there is a need to do much more for the sector, a top official said on Wednesday. Secretary in the Department for Promotion of Industry and...
NEW DELHI: Regulator Irdai on Wednesday said the facility of policy loan is now mandatory in all life insurance savings products, enabling policyholders to meet liquidity requirements. Issuing a master circular which consolidates all regulations with regards to life insurance policies, the Insurance Regulatory and Development Authority of India...
NEW DELHI: A day after the government announced its plan to construct 30 million houses under the Pradhan Mantri Awas Yojana (PMAY), it is weighing more measures as part of its 100-day agenda as well as the medium-term road map to signal its rural focus, people aware of the...
NEW DELHI: The World Bank on Tuesday retained its growth forecast for India at 6.6 per cent for FY25. “India will remain the fastest-growing of the world’s largest economies, although its pace of expansion is expected to moderate. After a high growth rate in FY 2023/24, steady growth of...
NEW DELHI: States’ capital expenditure likely rose by over a quarter in 2023-24 compared with a 18% rise in 2022-23. This was supported by the Centre’s interest-free loans to them and the states’ own robust revenue growth. A review of the finances of 24 states by FE, showed that...
MUMBAI: The Insurance Regulatory and Development Authority of India (IRDAI) on Tuesday announced several customer-centric measures including asking every general insurance company to offer a basic insurance product with essential minimum coverage, which will be clearly displayed on their website. This will allow customers to compare it with other...
NEW DELHI: To increase coal availability to the non-regulated sectors (NRS) like cement, steel, sponge iron and captive power units, the Union coal ministry is planning to provide them with long-term linkages, without end-use restrictions. The plan is to modify the policy guidelines for NRS coal linkages issued in...
MUMBAI: An Air India Express staff union has claimed the airline has issued charge sheets against 200 cabin crew members for reporting sick last month when the carrier faced significant disruptions. The Air India Express Employees Union (AIXEU) has termed the airline’s move as unfortunate and unfair labour practice....
MUMBAI: Ras Al Khaimah, one of the seven emirates in the UAE, is eyeing over 20 per cent growth in tourist arrivals from India with targeted marketing campaigns and addition of new hotels, the emirate’s Tourism Development Authority CEO Raki Phillips has said. “In 2023, we saw a significant...
NEW DELHI: Union Minister Ashwini Vaishnaw on Tuesday said the government will push ahead with its tech-driven agenda of cementing India’s global lead in semiconductor and electronics manufacturing, and as a technology and digital hub. Taking charge of Ministry of Electronics and IT (MeitY) — a nodal ministry tasked...
NEW DELHI: Equity mutual funds witnessed a staggering growth with inflow reaching a record high of Rs 34,697 crore in May, marking a 83 per cent surge from the preceding month, propelled by contributions from thematic funds and intermittent corrections that provided buying opportunity to investors. This also marks...
MUMBAI: Benchmark equity indices declined in early trade on Tuesday amid profit taking after a record-breaking rally and selling in bluechips Reliance Industries and HDFC Bank. Both Sensex and Nifty hit their all-time high levels in early trade on Monday. The 30-share BSE Sensex declined 113.63 points to 76,376.45....
A recent World Bank working paper has called for granting greater authority to Panchayats while strengthening local fiscal capacity to offset what it identified as “recentralisation” resulting from the widespread adoption of online payment systems, MIS-based beneficiary selection, and digital beneficiary tracking. “Delegating more authority to Panchayats, rather than...
NEW DELHI: The new government is likely to overhaul the entire statistical system of the country, which includes undertaking additional surveys, fixing data leakages, improving frequency of the survey releases, and tweaking the methodology of computing several macro-economic indicators, official sources told FE. “The entire overhaul of the statistical...
MUMBAI: State-run Bharat Petroleum Corporation (BPCL) plans to set up a new 12 million metric tonnes per annum (MMTPA) refinery in the country, two industry officials aware of the development told ET. The state-owned oil marketing company will invest around Rs 50,000 crore in the project for which it...
NEW DELHI: Investment rate may have approached 35%, the level needed for GDP growth of 7-8%, thanks to a big capex push by the government, but the composition of capital formation shows a declining share of industrial investments. The share of productive assets such as machinery in gross fixed...
NEW DELHI: With Prime Minister Narendra Modi taking oath for the third time, India Inc on Monday expressed optimism that the new government under his leadership can usher in the next phase of reforms to achieve the goal of Viksit Bharat. Several corporate leaders posted congratulatory messages on...