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India is planning to lower its budget deficit by at least 50 basis points in 2024/25 from this year’s target of 5.9 per cent of gross domestic product (GDP), while also looking to raise capital spending by as much as 20 per cent, two government officials said. Shrinking the...
NEW DELHI: Indian economy will likely pick up pace in FY25 and FY26, growing 6.4% and 6.5%, respectively, on the back of a strong investment and services push, retaining the fastest-growing major economy tag, the World Bank said Tuesday. The multilateral institution has forecast global growth to slump further...
NEW DELHI: Industry bodies are keen on getting access to the e-Shram portal, which is a repository of data of nearly 300 million unorganised sector workers. They believe access to this diverse skilled talent pool will help them fulfil their workforce requirements. “Industry has asked for access to the...
NEW DELHI: Even though India’s overall unemployment rate has declined in 2023 as compared to 2022, the joblessness within youth has started to rise again, according to data released by the Centre for Monitoring Indian Economy (CMIE) for October-December quarter. For those in the age group between 20 to...
NEW DELHI: The February 1 interim budget is likely to present a status report on the National Pension System (NPS), said people aware of the matter. The group headed by finance secretary TV Somanathan that’s reviewing the scheme is likely to submit its report by the end of this...
NEW DELHI: Several restrictions imposed on rice exports to improve domestic supplies have adversely impacted India’s farm exports in the first eight months of current fiscal. However, shipments of Basmati rice (18%), buffalo meat (13%) and fresh fruits and vegetables (20%) have grown significantly even amid the general slump...
NEW DELHI: Consumer protection regulator CCPA on Tuesday said it is ready with draft guidelines specifying “dos and don’ts” to prevent coaching institutes from making “false claims” in advertisements regarding success rates of candidates. The draft guidelines will be approved and issued soon, Central Consumer Protection Authority (CCPA) Chief...
NEW DELHI: The commerce ministry has set up a task force to identify and resolve trade barriers being faced by exporters in other countries, a move which would help provide greater market access to domestic goods, an official said. The development assumes significance as many times India’s exports suffer...
NEW DELHI: About 50 per cent of the Indian businesses surveyed expressed their commitment to achieving the net-zero target, reflecting their desire to address climate change issues and transit to a low-carbon economy, said a PwC report on Tuesday. Of these, about 48 per cent committed to achieving net-zero...
COLOMBO: Six months after it was announced by the prime ministers of both countries, India has discussed the early launch of the UPI payment system with Sri Lanka and reiterated its support in the cash-strapped island nation’s debt restructuring process. In July 2023, Prime Minister Narendra Modi and Sri...
NEW DELHI: Tackling the deepfake issue will require regulations and close industry collaboration as there is no silver bullet for it, Nasscom Chairperson Rajesh Nambiar has said, terming it a “real concern”, especially in a year when several countries are going for polls. In an interview with PTI, the...
MUMBAI: Gaining from high credit off-take and lower credit costs, banks are likely to post 16.7 per cent year-on-year (Y-o-Y) growth in net profit during the third quarter of the financial year ended December 2023 (Q3 FY24). However, sequentially, net profit may shrink by 2.4 per cent over the...
NEW DELHI: As India and the four-member European Union Free Trade Association (EFTA) enter the final rounds of negotiations on a free trade agreement (FTA), the decision of Switzerland to bring down its import tariffs on industrial goods to zero has limited the gains that can be derived from...
NEW DELHI: Rationalising the capital gains tax structure, stability in tax rates, and liberalising exemption from the angel tax provisions for strategic foreign direct investment (FDI) are among the key demands of India Inc from the upcoming Interim Budget. According to a document titled ‘EY’s point of view on...
NEW DELHI: Government-run Employees State Insurance Corporation (ESIC) has been consistently leading in providing social-security benefits by formalising the workforce in the organised sector. This has happened with high growth in coverage in recent years as compared to the Employees Provident Fund Organisation (EPFO), shows the government data. ESIC...
NEW DELHI: The National Financial Reporting Authority (NFRA) is planning to annually undertake inspections of major audit firms, including the Big Four, to gauge their compliance, seeking to put in place an oversight mechanism of this kind for the first time, a person aware of the details told ET....
NEW DELHI: Aviation safety regulator DGCA on Monday came out with revised Flight Duty Time Limitations (FDTL) norms for flight crew, entailing increased weekly rest periods to 48 hours, extension of night hours, and limiting the number of night landings to only two as against six earlier. These regulations...
NEW DELHI: State-controlled Oil and Natural Gas Corporation (ONGC) has started oil production from its much-delayed flagship deep-sea project in Krishna Godavari basin in Bay of Bengal, helping reverse years of decline in output, the company said. ONGC has started producing from the Cluster-2 project in KG-DWN-98/2 block and...