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NEW DELHI: The procurement of goods and services from the government portal GeM is expected to touch Rs 3.5 lakh crore by the end of this fiscal due to higher buying activities by various ministries and departments, a senior government official said. The government e-Market (GeM) portal was launched...
NEW DELHI: The 28th Conference of the Parties of the United Nations (UN) Framework Convention on Climate Change (COP28), hosted by oil exporter United Arab Emirates (UAE), adopted the idea of “transitioning away from fossil fuel” in the final decision text, marking the first instance of such a decision...
NEW DELHI: More than 33 per cent of India’s constituent units, the states and Union Territories with legislature, have projected their debt to cross 35 per cent of their respective gross state domestic product (GSDP) at the end of 2023-24. Twelve states — Arunachal Pradesh, Bihar, Goa, Himachal Pradesh,...
NEW DELHI: India’s economy would grow 6.7 per cent in Financial Year 2023-24 (FY24), said Asian Development Bank (ADB) on Wednesday, raising the estimate from 6.3 per cent it made in September. The lender revised its estimate based on India’s higher-than-expected gross domestic product (GDP) growth, of 7.6 per...
NEW DELHI: The Centre’s dividend receipts from the Central Public Sector Enterprises (CPSEs) have crossed Rs 39,000 crore so far, which is over 90% of the target for the current financial year, boosting its non-tax receipts. The dividend receipts of Rs 39,086 crore so far in FY24 were over...
NEW DELHI: The Centre has asked state-run banks to focus on the capacity building of their key executives and specialised senior officials, including chief technology officers and chief revenue officers. It is keen that the top brass of public sector banks (PSBs) is geared up to handle fast-changing market...
NEW DELHI: India’s e-retail market is expected to reach over $160 billion by 2028 as more Indian households join the upper middle and upper income consumer cohorts. According to a report released by Bain & Company and Flipkart, the e-retail market is estimated to scale up to $57-$60 billion...
India stands to gain significantly from its proposed free trade pact with Oman, particularly in sectors such as petroleum, steel, electronics and textiles, as over 80 per cent of its exports to the country currently face a five per cent import duty which could be eliminated, according to an...
NEW DELHI: India’s steel mills have again held back on export offers, apart from the European Union, for three months now given stiff competition from China that continues to be 10-20 per cent lower-than-expected market rates. Mills here placed the last export offers at $660 per tonne (for benchmark...
MUMBAI: Benchmark equity indices declined in early trade on Wednesday amid a sluggish trend in Asian markets and cautious approach adopted by investors ahead of the US Fed interest rate decision. Also, retail inflation rising to a three-month high of 5.55 per cent in November added to the weak...
NEW DELHI: Employers in India most bullish globally on hiring in 2024 March quarter: Survey Corporate India’s hiring sentiment for the next three months is one of the highest across the world, with 37 per cent of employers planning to increase their staff strength amid buoyant domestic demand conditions,...
NEW DELHI: India’s retail inflation inched up to a three-month high of 5.6% in November from 4.9% in the previous month, while industrial production rebounded to a 16-month record of 11.7% in October, aided by a festive surge and a favorable base, official data released Tuesday showed. Interest rates...
NEW DELHI: The Centre is expecting savings of at least Rs 30,000 crore from its budgeted Rs 1.3 lakh crore assistance to states for capital expenditure in 2023-24, as the states have faltered in using the sanctioned amount, said people with knowledge of the matter. The Centre has released...
NEW DELHI: Fiscal prudence is the top priority of the government, but won’t compromise on social welfare, Finance Minister Nirmala Sitharaman said on Tuesday, while seeking the Lok Sabha’s nod for additional spending, including Rs 20,000 crore for the jobs guarantee programme, and Rs 16,300 crore for fertiliser subsidy...
MUMBAI: The Reserve Bank of India (RBI)’s decision to revise the guidelines on connected lending may have been prompted by instances of lenders not complying with rules on loans to companies, experts believe. Bankers said innovative structuring of loans may have resulted in a breach of the regulations. They...
NEW DELHI: Indian economy, dubbed the fastest growing major economy in the world, is faced with the single most important pressure point of job creation, says former RBI Governor Raghuram G Ranjan as he makes a strong case for improvement of human capital through skill development. Talking about the...
NEW DELHI: Government on Monday said that since 99 per cent local mobile phone market is being met through domestic manufacturing now, companies need to export by improving competitiveness and enhancing value addition, for next phase of growth. Government’s focus is now on boosting electronics component manufacturing in the...
NEW DELHI: Shoppers Stop is betting big on its beauty business. The company is accelerating its presence in this segment by expanding its standalone specialty beauty store network, shop-n-shops at its department stores and distribution tie-ups with global luxury brands. The company aims to garner nearly a quarter of...