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MUMBAI: The Pension Fund Regulatory and Development Authority (PFRDA) has sought a level-playing field for corporations in making contributions to the National Pension Scheme (NPS) so that they are at par with contributions made in provident fund (PF) for employees in respect of tax treatment. Currently, the tax exempt...
NEW DELHI: Canada-based Brookfield Asset Management will acquire the Indian business of American Tower Corporation (ATC) for an enterprise value of Rs 16,628 crore ($2 billion), the company said on Friday. After its third acquisition in India’s telecom sector in four years, Brookfield is set to become the largest...
MUMBAI: Benchmark stock indices Sensex and Nifty closed higher for a second straight day on Friday, following gains in IT, tech and capital goods shares amid fresh foreign capital inflows. After slipping briefly during the late afternoon trade, the 30-share BSE Sensex made a quick recovery and jumped 178.58...
NEW DELHI: The government on Friday said it will revamp the standard operating procedures for tunnel construction after an expert panel found many shortcomings in the under-construction Silkyara tunnel, which collapsed in November last year, leaving 41 workers stranded for more than two weeks. At a press briefing, Road...
MUMBAI: Electric Vehicle (EV) sales in India is expected to grow at a Compound Annual Growth Rate (CAGR) of 35 per cent with annual volumes likely to touch 27.2 million units by 2032, a report said on Friday. The report, ‘India Electric Vehicle Market Overview 2023’, by energy advisory,...
NEW DELHI: The Centre may aim for a modest disinvestment target of around Rs 30,000 crore in 2024-25, 40% lower than the target of Rs 51,000 crore for the current financial year, which is set to be missed by 60%, official sources said. This would represent a progressive lowering...
NEW DELHI: The Department of Telecommunications (DoT) will soon notify rules around leasing of spectrum to captive private networks, a move that will open another revenue stream for telecom operators, particularly for 5G monetisation. Telcos that have bought spectrum through auctions will be able to lease airwaves to captive...
MUMBAI: In line with the global funding winter, deal-making involving domestic firms hit a three-year low after falling 51 per cent to $83.8 billion in 2023, saved by the mega-merger of HDFC twins — the biggest deal in India Inc’s history till date, according to an industry report. Excluding...
KOLKATA: Early business data from lenders, published ahead of the month-long earnings season starting next week, showed that Indian companies are on track to report yet another quarter of robust performance amid buoyant consumer demand, although rising cost of funds might crimp profitability for financiers as the pace of...
NEW DELHI: Expectations are muted over big big-ticket announcements or high-budget schemes being announced in the interim Budget on February 1, but the run-up to the Parliament elections could still feature some such. FE has reviewed the schemes and government programmes rolled out in FY24 budget, and found that...
NEW DELHI: India is likely to project higher economic growth estimates of around 7% for the 2023/24 fiscal year ending in March, compared with earlier government forecasts when the National Statistical Office releases its first advance GDP estimates on Friday. An increased estimate of annual gross domestic product is...
Economic growth is set to be a driving force in the Asia-Pacific (APAC) region in 2024, particularly in emerging markets (EMs), providing a favourable backdrop for various sectors, reported Fitch Ratings. According to Fitch Ratings, while strong real GDP expansion is anticipated in India, Indonesia, the Philippines, and Vietnam,...
NEW DELHI: Cooperation Minister Amit Shah on Thursday inaugurated a tur dal procurement portal through which farmers can register and sell their produce to NAFED and NCCF at a minimum support price or market price. A similar facility will be launched in future for urad and masoor farmers as...
NEW DELHI: NHPC has inked an initial pact to invest Rs 4,000 crore in 750 MW Kuppa Pumped Hydro Storage Project at Chhota Udaipur in Gujarat. Taking a step towards clean and green energy, NHPC signed a Memorandum of Understanding (MoU) with Gujarat Power Corporation (GPCL) for investment in...
NEW DELHI: The government will focus on the existing PLI schemes for 14 sectors and for the time being is not considering to include new sectors like toys in the programme, a top official said on Thursday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT)...
NEW DELHI: The Supreme Court on Wednesday refused to order inquiries into Adani Group by a special investigation team (SIT) or the Central Bureau of Investigation (CBI) — a major relief to the business house — over US short-seller Hindenburg Research’s allegations of fraud, misgovernance and stock price manipulation....
NEW DELHI: India’s manufacturing activity declined to its lowest level in 18 months in December, pulled down by weaker increase in factory orders and output, according to a private survey released Wednesday. The HSBC India purchasing managers’ index of manufacturing eased further to 54.9 in December compared with 56...
NEW DELHI: The economic growth in Asia Pacific will remain strong in 2024 and GDP is expected to grow by about 5 per cent in India and a host of emerging market countries, Fitch Ratings said on Wednesday. In its report titled ‘APAC Cross-Sector Outlook 2024′, Fitch said the...