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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...
NEW DELHI: State-run GAIL on Monday said it has urged the Madhya Pradesh government to provide enablers for setting up of India’s largest ethane cracker unit, which will likely entail an investment of around ₹60,000 crore. The country’s largest gas utility intends to set up a 1,500-kilo tonnes per...
RAIPUR: Bhilai Steel Plant (BSP), the Chhattisgarh-based entity of SAIL (Steel Authority of India Limited), has so far dispatched four rakes (1,000 tonnes each) of R350 heat-treated (HT) rails from its modern universal rail mill to the Indian Railways. The Railways has been demanding micro-alloyed and HT rails from...
NEW DELHI: The statistics ministry doesn’t expect to undertake any significant downward revision to the official economic growth estimate for FY24, and may disprove many analysts in this regard. It also sees the possibility of the gross domestic product (GDP) expansion in FY25 to exceed 7%, with the “strong...
NEW DELHI: The government is considering a tweak to the capital gains tax regime for debt mutual funds to offer some relief for the Bharat Bond Exchange Traded Fund. The issue figured at a meeting held last week in the finance ministry as the government is planning to issue...
The biggest challenge for the commerce and industry ministry under the coalition government led by Prime Minister Narendra Modi would be to revive the growth of merchandise exports that has been grappling with external factors such as geopolitical risks and high inflation. A dedicated road map is expected to...
MUMBAI: Investors and companies based in India will now be able to invest in overseas funds, including those set up in the United States and Singapore, without any restrictions. The move follows an amendment by the Reserve Bank of India (RBI) last week regarding Overseas Portfolio Investments (OPIs). The...
NEW DELHI: The labour and employment ministry and the ministry of skill development and entrepreneurship will need to usher in labour law reforms, job creation, upskilling, and promote social security for the workforce to give a fillip to India’s manufacturing competitiveness, said experts. While the four labour codes have...
NEW DELHI: The commerce and industry ministry may seek more funds for startups in the forthcoming Budget, to be announced by the new government, to promote innovation in the country, an official has said. The new government may announce the Budget for 2024-25 in July. The seed fund scheme,...
NEW DELHI: Open access solar installations rose two-fold in India to 1.8 gigawatts during January-March this year supported by several factors, including reduced module cost, US-based Mercom Capital has said. Solar power through open access is an arrangement where a power producer establishes a solar power plant to supply...
NEW DELHI: Sheela Foam, which owns two leading mattress brands — Sleepwell and Kurlon — expects a double-digit CAGR growth of 14 to 15 per cent in short to mid-term, its CEO Nilesh Mazumdar has said. Sheela Foam, which acquired the Kurlon brand last year, has rebranded it with...
TAIPEI: India’s personal computer (PC) market is better than the rest of the world and low penetration level of the devices offers a good growth opportunity for the Taiwanese tech major Asus, senior company officials have said. The Taiwanese PC maker has seen positive growth in the Indian market....
DUBAI: India is a big aviation market and a stronger partnership between Air India and Lufthansa is good, as efforts of the Star Alliance are to bring the partners together to provide a unique value proposition for the passengers, the airline grouping’s CEO Theo Panagiotoulias has said. Air India...
MUMBAI: The Reserve Bank of India on Friday revised upwards the GDP growth projection for the current fiscal to 7.2 per cent from 7 per cent on rising private consumption and revival of demand in rural areas. Unveiling the bi-monthly monetary policy, RBI Governor Shaktikanta Das said estimates released...