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NEW DELHI: The Union Cabinet on Thursday approved the amendment in the MMDR Act to specify the royalty rate on 12 critical and strategic minerals, an official statement said. A decision in this regard was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi,...
NEW DELHI: The government on Thursday approved a rooftop solar scheme, PM-Surya Ghar: Mufti Bijli Yojna, with an outlay of Rs 75,021 crore, to provide up to Rs 78,000 subsidy for the installation of solar plants and 300 units free power for one crore households. Briefing media after the...
NEW DELHI: Foreign direct investment (FDI) inflows in India declined 13 per cent to USD 32.03 billion in April-December 2023, dragged down by lower infusion in computer hardware and software, telecom, auto, and pharma sectors, according to the latest government data. FDI inflows stood at USD 36.74 billion during...
MUMBAI: Lagging deposit accretion poses the risk of constraining credit growth for banks in FY25, India Ratings and Research said on Thursday. Maintaining its “neutral” outlook on the banking sector for FY25, the agency said the deposit growth is likely to moderate to 12-13 per cent in FY25 from...
NEW DELHI: The Indian retail market is expected to almost double its size to reach $2 trillion in the coming decade, stated a report released by the Boston Consulting Group (BCG) and Retailers Association of India (RAI) on Wednesday. The report, titled Unlocking the $2 Tn retail opportunity in...
ABU DHABI: India and South Africa on Wednesday blocked a China-led initiative on investment facilitation at the WTO, in a move that will make it unlikely for the proposed Investment Facilitation Development to be part of the WTO agenda and outcome. Officials said the two nations protested and filed...
MUMBAI: Mukesh Ambani-owned Reliance Industries, Viacom18 Media and The Walt Disney Corporation on Wednesday entered an agreement to form a joint venture that would merge the television and digital streaming businesses of Viacom18 and Star India and create an entertainment giant in India. A joint statement pointed out that...
NEW DELHI: Following the release of the Household Consumption Expenditure Survey (HCES) report after 11 years, the debate on the poverty line estimates has gained ground after the Niti Aayog and the State Bank of India (SBI) claimed a significant decline in the headline poverty rate. While the SBI...
NEW DELHI: The government kick-started the process for additional stake sale in General Insurance Corporation (GIC Re), with roadshows in key global financial hubs including New York, Singapore, Hong Kong, Dubai and London. According to an official source, the outreach elicited “quite positive response” from global investors, in what...
NEW DELHI/SINGAPORE: Fresh U.S. sanctions on Moscow threaten to dent Russian oil sales to India, the biggest buyer of Russian seaborne crude, and complicate efforts by Indian state refiners to secure annual supply deals, three industry sources familiar with the matter said. Washington on Friday imposed sanctions to mark...
NEW DELHI: The Mines Ministry will launch the second round of critical and strategic minerals auction on Thursday. The auction shall be held online through a two-stage ascending forward auction process. The eligible bidder shall be selected based on the highest percentage of the value of mineral despatched quoted...
NEW DELHI: Coal India and Bharat Heavy Electricals Ltd (BHEL) on Wednesday announced the signing of a joint venture agreement for setting up of an ammonium nitrate plant as a part of its coal gasification project. The joint venture will initiate the ‘coal to chemicals’ business by first setting...
KOLKATA: From addressing challenges in value chain to decarbonisation and sustainability, steel companies are tapping into the startup ecosystem for fresh ideas and breakthrough technologies. Tata Steel’s flagship startup engagement programme, Innoventure, is in its fifth year. About 55 per cent of its current engagements with startups are focused...
NEW DELHI: India and Germany have resolved to closely collaborate on high-technology for military use in line with a broader aim to develop defence cooperation as a key pillar of the bilateral strategic partnership. Besides this issue, ways to further bolster strategic cooperation figured prominently at a meeting of...
NEW DELHI: Commerce and Industry Minister Piyush Goyal and his British counterpart Kemi Badenoch will make another attempt to iron out differences and decide the future course of action on the much-awaited free trade agreement (FTA) between the two countries before the general elections. The ministers are expected to...
MUMBAI: To reduce the burden of compliance on regulated entities (REs), the Reserve Bank of India (RBI) on Tuesday issued a master direction that removed obsolete instructions and consolidated 20 existing instructions, including one for finance companies. While specifying timelines for reporting, it also reduced time for filing returns....
NEW DELHI: India’s economy likely grew at a three-quarter low of 6.7% in Q3 FY24 as compared to 7.6% in the previous quarter, mainly due to fading away of the low base effect that had supported growth in H1, an FE poll of 20 economists showed. In H1, the...
ABU DHABI: Around 72 nations have agreed to take on additional obligations in services under the General Agreement on Goods in Services (GATS) to ease non-goods trade among themselves and extended the similar concessions to all other members of the World Trade Organisation (WTO). They have added these obligations...