NEW DELHI: The Centre on Wednesday sought approval of Parliament for gross additional spending of Rs 1.29 trillion including Rs 14,524 crore for Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) and Rs 13,351 crore for fertiliser subsidy. “Approval of Parliament is sought to authorise gross additional expenditure of...
MUMBAI: The RBI’s high-powered rate setting panel on Wednesday began its 3-day brainstorming on the next set of bi-monthly monetary policy amid expectation of continued pause on the short-term key lending rate as GDP growth is gaining momentum, and inflation manageable. RBI left the benchmark policy rate (repo) unchanged...
NEW DELHI: The government is learnt to have resolved to allow foreign direct investment (FDI) in inventory-based models of e-commerce, subject to the rider that these will be solely aimed at export markets. According to an official source, while the key ministries of finance and commerce & industry have...
KOLKATA: The telecom secor recorded 1.75% sequential growth in adjusted gross revenue (AGR) in the April-June quarter, during which Bharti Airtel and Reliance Jio saw a rapid uptake of 5G services, further accelerated by sporting events like the Indian Premier League (IPL). The latest data released by the Telecom...
NEW DELHI: India’s service activity moderated to a one-year low in November, owing to a slowdown in new work orders and overall output, a private survey published Tuesday said. However, the print showed continued expansion in the broader economy that surprised on the upside in the second quarter. The...
MUMBAI: Insurance behemoth Life Insurance Corporation of India (LIC) is the fourth largest insurer in the world, according to a ranking based on life and accident & health reserves of companies in 2022 by S&P Global Market Intelligence. The state-owned insurer is ranked after Allianz SE, China Life Insurance...
NEW DELHI: The central public sector enterprises (CPSEs) and large government agencies present in the infrastructure sector like the NHAI and the Railways have invested Rs 4.28 trillion or 58.4% of their combined annual capital expenditure target in April-October of the current financial year, supporting the public capex-led economic...
BENGALURU: Fair Isaac, the US-based data and analytics company better known as FICO, on Tuesday launched its cloud-based platform in India. Indian banks like HDFC Bank, Axis Bank, and AU Small Finance Bank are among the early adopters set to elevate customer satisfaction and drive innovation in the banking...
India and the UK have begun crunch-time talks to secure a landmark free-trade deal, as leaders on both sides seek to resolve outstanding issues before they face election battles next year. A UK team — including Amanda Brooks, director general for trade negotiations, and Douglas McNeill, chief economic adviser...
NEW DELHI: Solar power generation capacity can go up to 75,000 gigawatts by 2050 globally with long-duration storage capacity, a report by the International Solar Association (ISA) and LDES Council, said. The report released on Tuesday by ISA and the Long Duration Energy Storage (LDES) Council unveils a bold...
MUMBAI: Benchmark stock indices Sensex and Nifty settled at new peaks on Tuesday, rallying for the sixth straight session amid massive buying in power and utility sector shares. The 30-share BSE Sensex jumped 431.02 points, or 0.63 per cent, to close at a new record high of 69,296.14. The...
NEW DELHI: Nine months after the government notified new gaming rules, companies such as Dream Sports, Games 24×7, as well as industry associations, are seeking clarity on a code of conduct for the sector. The manner in which the notified rules will be implemented, a framework for responsible gaming...
NEW DELHI: The government has firmed up a plan to remove the bar on personal guarantors to transfer or dispose of their assets under the insolvency resolution process, according to an official source. This is despite the Supreme Court upholding the constitutionality of the moratorium. The move by the...
NEW DELHI: Domestic rating agency Icra on Monday said the Indian IT sector’s revenue growth will inch up to over 6 per cent in 2024-25 from 3-5 per cent estimated for the ongoing financial year. The slower growth will have an impact on the hiring plans, the agency said,...
NEW DELHI: State-owned BSNL is looking to deploy at least 4% of its total staff strength of around 54,000 on enhancing enterprise services, company sources said. Currently only 1.8% of the staff are deployed for the purpose. This is because BSNL has seen a fall in revenue from the...
MUMBAI: India’s corporate bond market is expected to more than double from Rs 43 trillion in Financial Year 2022-23 (FY23) to Rs 100-120 trillion by FY 2030, said a report by CRISIL Ratings on Monday. The market is expected to expand at a compound annual growth rate (CAGR) of...
NEW DELHI: India’s overall unemployment rate in November fell to 9.16% from a 29-month high of 10.05% in October, on account of a decline in unemployment in rural areas amidst the rabi-sowing season, according to data from the Centre for Monitoring Indian Economy (CMIE). The rural unemployment rate eased...
Renewable energy firm ReNew Energy Global Plc has inked an initial pact with the Asian Development Bank (ADB) for a funding of USD 5.3 billion.”The MoU was signed at COP28, Dubai by ReNew’s Founder, Chairman and CEO, Sumant Sinha and Suzanne Gaboury, Director General, Private Sector Operations Department, ADB,”...