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NEW DELHI: To enable farmers to access pledge finance against the harvested commodities, the government on Monday launched an online digital gateway e-Upaja Kisaan Nidhu which would allow storage of agricultural produce with the Warehousing Development and Regulatory Authority (WDRA) and obtain post-harvest loans from the banks. Food minister...
NEW DELHI: India’s unemployment rate dropped to 3.1 per cent in 2023 from 3.6 per cent in the preceding year, reflecting continued improvement in the labour markets, revealed the latest employment-unemployment indicators report released by the National Statistical Office (NSO) on Monday. During the calendar year 2023 (CY23), the...
NEW DELHI: The proposed free trade agreement between India and the European Free Trade Association (EFTA) countries, with a commitment of $100-billion investments from the four-country bloc into India over the next 15 years generating an estimated 1 million jobs, may be formalised soon as the pact “is ready”...
NEW DELHI: High-frequency data for February released on Friday showed India’s economy continues to cruise after posting a better-than-expected 8.4% expansion in the December quarter. Goods and services tax (GST) collection surged 12.5% to ₹1.68 lakh crore, auto firms posted their highest monthly sales and manufacturing activity hit a...
NEW DELHI: The stronger-than-expected real GDP growth print for the third quarter ended December may prompt the Reserve Bank of India (RBI) to continue the status quo on policy rate for a longer time than what was being projected earlier. A gross domestic product (GDP) growth of 8.4% in...
NEW DELHI: Highlighting continued hectic activity in the Indian economy, gross goods and services tax (GST) collection grew 12.54 per cent year-on-year to Rs 1.68 trillion in February. Positive consumer sentiment was also palpable through the monthly sales figures for cars and two-wheelers as both segments witnessed an annual...
NEW DELHI: The manufacturing sector gathered momentum in February on the back of expansion in new export orders and easing of pricing pressures as the headline Purchasing Managers Index (PMI) climbed to a five-month high. It touched 56.9 during the month from 56.5 in January, the survey released by...
MUMBAI: Keeping up with the pace of rapid changes in the fintech sector, the Reserve Bank of India (RBI) has stepped up its interaction with the fintech companies. The banking regulator has held over 200 meetings with the fintech companies and industry representatives in the past six months. “The...
NEW DELHI: CAG of India Girish Chandra Murmu on Friday said auditors should engage with stakeholders to gather input, address concerns, and promote transparency and accountability. Addressing the three-day International Conference on Strengthening of Grassroots Democracy, he also emphasised on the need to prioritise audit procedures based on identified...
NEW DELHI: Gold prices jumped Rs 350 to Rs 63,320 per 10 grams in the national capital on Friday amid strong trends in the global markets, according to HDFC Securities. The precious metal closed at Rs 62,970 per 10 grams in the previous trade. Silver also rallied Rs 400...
MUMBAI: Benchmark equity indices Sensex and Nifty rallied more than one-and-a-half per cent to hit their lifetime highs on Friday helped by impressive GDP data and fresh foreign fund inflows. The 30-share BSE Sensex jumped 1,245.05 points or 1.72 per cent to reach 73,745.35 — its all-time closing peak....
NEW DELHI: Finance Minister Nirmala Sitharaman on Friday said Direct Benefit Transfer of Rs 34 lakh crore has been facilitated by the Public Financial Management System (PFMS) and asked accounts officers to further enhance efficiency and transparency of the system. In a written message to the Controller General of...
NEW DELHI: India’s economy put on an unexpected spurt in the October-December period as it expanded 8.4%, a six-quarter high, vastly outstripping expectations. This is going to make India an even brighter spot in the global economy — gross domestic product (GDP) is now expected to rise 7.6% in...
NEW DELHI: Capital markets regulator Sebi has asked mutual fund houses to put in place a framework to safeguard investors, who invested in smallcap and midcap schemes, amid a “froth building up” in these categories. Also, the regulator has suggested steps such as restrictions on inflows in these segments,...
NEW DELHI: India’s core sector output, which measures production by eight key industries, grew by 3.6 per cent in January, a 15-month low, as per a government data update. A lower growth of 0.7 per cent was recorded in October 2022. The base effect combined with a single digit...
MUMBAI: The Reserve Bank of India (RBI) on Thursday revised the framework for Bharat Bill Payment Systems (BBPS) Directions, enabling non-bank payment aggregators (PAs) to participate in the system as operating units. The banking regulator said entities that are authorised to operate as PAs, including those who have been...
NEW DELHI: India’s post-pandemic robust economic momentum will continue for the fourth year in a row with a likely 7% expansion in the next financial year, Chief Economic Adviser V. Anantha Nageswaran said on Thursday. The growth will be supported by an expected normal monsoon, better rural demand, improved...
NEW DELHI: The Union Cabinet on Thursday approved setting up three semiconductor-making units by firms, including Tata Group and Japan’s Renesas, at an investment of Rs 1.26 lakh crore as part of an attempt to cut India’s dependence on imports to meet requirements of chips. The units which will...