NEW DELHI: The S&P Global Ratings on Monday retained its growth forecast for India at 6.8 per cent for FY25, citing high interest rates and lower fiscal boost tempering demand in the non-agricultural sectors. “India’s economic growth continues to surprise on the upside. GDP growth for fiscal 2024 was...
MUMBAI: As the Indian equity market surges to unprecedented highs, market players see a great opportunity for the government to divest stake in public sector undertakings (PSUs) to meet its ambitious fiscal targets. In the interim budget, the government set a goal of raising Rs 50,000 crore through divestment,...
MUMBAI: The Reserve Bank of India has recently carried out special audits with banks to check whether they are holding the appropriate securities to qualify for liquidity coverage ratio, a move that comes at a time when the central bank has expressed concern over sudden deposit outflows that can...
NEW DELHI: In a move to check wheat price rise and hoarding, the Centre on Monday imposed stock holding limits on traders, wholesalers, retailers and processors with immediate effect. The restrictions will remain in force until March 31, 2025, across all states and Union Territories. Single retailers, big-chain retailers,...
MUMBAI: India recorded a current account surplus of USD 5.7 billion or 0.6 per cent of GDP in the March quarter, the Reserve Bank of India said on Monday. In the year-ago period, the current account deficit stood at USD 1.3 billion or 0.2 per cent of GDP, and...
NOIDA: The Noida International Airport is expected to launch its flight service by April 2025, missing its September 2024 deadline due to construction delays. Recently there were reports of delay in construction works at the greenfield airport coming up in the Jewar area of Uttar Pradesh’s Gautam Buddh Nagar...
NEW DELHI: With retail inflation nearing the RBI’s target of 4 per cent, the monetary policy needs to shift focus on promoting growth, RBI MPC member Jayanth R Varma said on Monday. Varma further said CPI inflation in 2024-25 is projected to be only about 0.5 percentage point above...
NEW DELHI: Industry body India Energy Storage (IESA) has demanded that the government reduce the goods and services tax (GST) on batteries and electric vehicles charging infrastructure services as well battery swapping. Ahead of the India Energy Storage Week 2024 (IESW) in New Delhi from July 1-5, 2024, the...
MUMBAI: Passenger vehicle sales is projected to grow at a moderate 3-5 per cent this financial year on account of a high-base effect of FY24, shrinking order book and subdued demand for entry-level variants, a report said on Monday. According to the report by credit ratings agency CareEdge, following...
MUMBAI: The Goods and Services Tax (GST) Council’s decision to not levy tax on co-insurance premium and reinsurance commission retrospectively will be a consolation for general insurance companies, experts said. The 53rd GST Council headed by Finance Minister Nirmala Sitharaman on Saturday announced that no tax will be levied...
NEW DELHI: The finance ministry is assessing the possibility of raising the standard deduction limit for income taxpayers under the new regime, without tinkering with the exemption-laced older regime. Besides, as the NDA govt readies to present its first Budget of its third term, it is unlikely to undertake...
MUMBAI: E-commerce platforms are stepping up product checks in their dark stores and warehouses to ensure consumer safety amid a spate of instances of food contamination. Plans are afoot to rejig internal policies, with some platforms even willing to delist sellers in case of repeated violation of safety protocols...
NEW DELHI: The Goods and Services Tax (GST) Council’s decision to provide tax exemption on corporate guarantees in two scenarios – transactions that qualify as “export of services” and recipients who can claim full input tax credit – may not provide any relief to the power or real estate...
NEW DELHI: To curb the surge in import of edible oils, which has adversely impacted domestic oilseed prices, the Commission for Agricultural Costs and Prices (CACP) in the agriculture ministry has recommended a “dynamic import duty structure” for these farm goods. The proposed tariff system will be based on...
MUMBAI: The Securities and Exchange Board of India (Sebi) is expected to soon come out with a series of proposals that will provide significant regulatory relaxations to registered investment advisors (RIAs), said sources close to the development. The consultation paper, which is expected in July, is likely to eliminate...
NEW DELHI: Almost a third of India is under “severe financial stress” and consumers are finding it difficult to manage their expenses though inflation has eased, said a new report by Kantar on Friday, adding the rural market was a “bright spot”. “Inflation might have slowed down to acceptable...
NEW DELHI: The Centre will announce the results of its maiden round of critical mineral auctions, initiated in November last year, on Monday. The Ministry of Mines will also launch the fourth round of auctions of around 15 blocks on the same day, Business Standard has learnt. Results for...
NEW DELHI: The rapid deployment of 5G across India has led to a jump in data usage, which has put mobile phone networks under strain and dragged down download speeds, mobile analytics company Opensignal said in a report. The average download speeds in the first quarter of 2024 on...