NEW DELHI: The government of India’s fiscal deficit narrowed to Rs 12.5 lakh crore or 80.4% of the FY26 during April-February of FY2026 from Rs 13.5 lakh crore, or 86% of the actual in the year-ago period despite capex growing by 15% year-on-year during this period. A mere 1%...
MUMBAI: The rupee was volatile in Monday’s session, touching an intraday low of 95.24 per dollar as large corporations exploited arbitrage opportunities between onshore and offshore markets, while importer demand for the greenback reversed the currency’s initial advance. The benchmark 10-year government bond yield, too, breached 7 per cent...
NEW DELHI: The Lok Sabha on Monday approved a clutch of amendments to the Insolvency and Bankruptcy code (IBC) that will significantly reduce resolution timelines, and pave the way for structural reforms in the decade-old law. The IBC (Amendments) Bill proposes new frameworks to handle complex cases, aligning with...
NEW DELHI: As the World Trade Organization’s (WTO’s) 14th ministerial conference (MC14) drew to a close on Sunday, member nations were considering a five-year extension of the global ban on ecommerce tariffs, even as India continued to resist a long-term moratorium citing concerns over revenue loss, a Bloomberg report...
NEW DELHI: India’s growing economy and massive infrastructure needs align perfectly with American expertise in energy, advanced manufacturing and digital infrastructure and both sides are well-positioned for a ‘win-win’ expansion of their strategic economic pillar, US Ambassador Sergio Gor has said. The envoy said the two countries are prioritising...
NEW DELHI: An annual $140-billion oil & gas import bill, power demand projecting to grow 6.4% annually, and back-to-back global disruptions – from Russian oil to the Iran war – exposing vulnerabilities, electrification is emerging as a central pillar of India’s energy strategy. A Bernstein report said India’s energy...
MUMBAI: The RBI’s unorthodox move to steady the rupee by forcing banks to unwind foreign exchange positions beyond $100 million will prevent its slide towards 95, even as markets fret over a possible escalation in the Iran conflict and the prospect of a US ground invasion. The move will...
KOLKATA: The microfinance market recorded a month-on-month growth in gross loan portfolio in February, with large lenders increasing loan disbursements to customers with robust track record. The sector’s total book size stood at Rs 3.29 lakh crore at the end of February, up 2.5% over the previous month, according...
MUMBAI: The central government plans to issue ₹8.2 trillion worth of government securities (G-Secs) in the first half (H1) of 2026-27 (FY27), the Reserve Bank of India (RBI) said on Friday. The amount is lower than market expectations of ₹8.53 trillion to ₹8.85 trillion, dealers said. Bond yields are...
NEW DELHI: India on Friday cleared a sweeping set of defence procurement proposals worth about Rs 2.38 lakh crore, with the Defence Acquisition Council (DAC) granting Acceptance of Necessity (AoN) for a range of platforms aimed at strengthening the operational readiness of the Air Force, Army and Coast Guard....
NEW DELHI: Amid the war in West Asia and impending Assembly elections, the government on Friday announced heavy relief for oil companies, cutting special additional excise duty on petrol and diesel by ₹10 per litre. In protecting consumers from a price rise, the government is likely to take a...
NEW DELHI: The Centre’s excise duty cuts on petrol and diesel by Rs 10 each to cushion the oil marketing companies (OMCs) from making losses may cost the exchequer a staggering Rs 1.7 lakh crore if the duties remain at the current level throughout FY27. It may partly offset...
MUMBAI: Resource mobilisation from the primary market not only moderated in February, but was also the second-lowest in FY26, with 17 initial public offerings (IPOs) raising `4,650 crore. Mainboard activities remained subdued, reflecting cautious participation from large issuers, as per Securities and Exchange Board of India’s (Sebi) monthly bulletin...
NEW DELHI: India’s economy is expected to maintain growth of above 7 per cent in 2026-27 (FY27), supported by strong domestic consumption and investment, even as global growth could slip below 3 per cent amid geopolitical tensions, industry body the Associated Chambers of Commerce and Industry of India (Assocham)...
NEW DELHI: Elevated global crude oil and natural gas prices amid ongoing developments in West Asia may influence the Government of India’s fiscal position for 2026-27, ratings agency ICRA said in a report today. The recent increase in energy prices, driven by geopolitical factors, has led to volatility in...
NEW DELHI: Commerce and Industry Minister Piyush Goyal on Thursday called for a careful review of the moratorium on Customs duty on ecommerce, citing the lack of a common understanding among World Trade Organization (WTO) member nations on its scope and the potentially significant implications. “In the absence of...
NEW DELHI: India has about 60 days of oil stock cover and has arranged one full month of LPG supply, the government said on Thursday, adding that there is no shortage of petrol, diesel, or LPG, calling reports of shortages as a “deliberate misinformation campaign” aimed at triggering panic...
MUMBAI: The performance of the initial public offering (IPO) market has been one of the talking points in FY26, as 108 firms raised an all-time high amount of 1.75 lakh crore. However, their performance have not been quite spectacular. A total of 71 or 65.5% companies’ share prices are...