Business
Government’s Revenue From CPSE’s Dividend Likely To Exceed Revised Estimates, But Lowest In 4 Years
NEW DELHI: Dividend received by the government from Central Public Sector Enterprises (CPSEs) and private companies with minority stake holding by the government is expected to exceed revised estimates during current fiscal, i.e, 2024-25 (FY25). Still, it is likely to be the lowest in four years. Data from DIPAM...
Bharat Electronics Bags Order Worth Rs 1220.12 Crore From Defence Ministry For Supply Of 149 SDR And DCT To Indian Coast Guard
Bharat Electronics (BEL) on Thursday announced that it has signed a contract with the Ministry of Defence for supply of Software Defined Radios (SDR) and Data Communication Terminals (DCT) for Indian Coast Guard. The order is valued at Rs 1034 crore (excluding taxes), it said in a regulatory filing....
Economy On Recovery Path, Rate Cut To Boost Demand, Says RBI Report
MUMBAI: The Indian economy is on a recovery path in the second half of the current financial year (H2FY25), with increasing probability that the reduction in policy repo rate during the February monetary policy review will boost domestic demand, the Reserve Bank of India’s (RBI’s) monthly State of the...
US Tariff Hike May Hit India’s GDP Growth By Up To 0.6 PP: Goldman Sachs
NEW DELHI: The increase in average effective tariff rate imposed by the United States (US) on Indian exports could potentially impact India’s gross domestic product (GDP) growth by 0.1-0.3 percentage points, according to Goldman Sachs report on Wednesday. This forecast considers various scenarios, including the US government’s planned reciprocal...
Sectoral Growth, Tech To Power India’s $23-35 Trillion ‘Economic Vision’: Report
MUMBAI: For India to transform into a high-income country with a projected gross domestic product (GDP) of $23-35 trillion, will need a sustained annual growth of 8 per cent to 10 per cent. This will be powered by India’s demographic dividend, technological innovation, and sectoral transformation, according to the...
Rupee Volatility More Than Halves; RBI Intervention Narrows Opening-Closing Difference Significantly
MUMBAI: The Reserve Bank of India’s (RBI’s) intervention to stem the rupee’s depreciation has narrowed the difference between the currency’s opening and closing significantly to 5-7 paise in the last week. Since December, the difference has been in the band of 10-20 paise. Market participants said that the intervention,...
India Inc May See 9% Salary Hike In 2025 But Big Slump In Tech Consultancy
NEW DELHI: The salary increments in India are expected to stabilise in 2025 with a rise of 9.2 per cent during the year, according to a survey conducted by professional services firm Aon. This is slightly lower than an increase of 9.3 per cent reported in 2024, amidst global...
India-Qatar Trade Agreement Must Be Approached With Caution: GTRI
NEW DELHI: India should tread cautiously on a potential free trade agreement (FTA) with Qatar, particularly in the petrochemical sector as both countries are strong in this segment, economic think tank GTRI said on Wednesday. The Global Trade Research Initiative (GTRI) added that India should ensure that tariff concessions...
Coal Ministry Plans To Offer Extra Incentives In Mine Auctions
KOLKATA: The Coal Ministry is planning additional incentives to boost underground (UG) commercial coal block auctions in India, a senior government official said on Wednesday. The push for UG mining aligns with India’s drive for sustainable coal production. The proposed incentives are in an advanced stage of discussions and...
Efforts To Serve Complaint On Gautam Adani, Sagar Adani Ongoing: SEC
NEW YORK: The United States (US) Securities and Exchange Commission (SEC) has told a federal judge here that its efforts to serve its complaint on Gautam Adani and Sagar Adani in the alleged bribery scheme are “ongoing”, including through a request for assistance to the Indian authorities. The SEC...
Mysuru Layoffs: Infosys Denies Force, Intimidation
NEW DELHI: IT services company Infosys on Wednesday said it did not use force or intimidation tactics when it laid off trainees at Mysuru campus over performance-related issues, and that it was explaining the circumstances to the labour department authorities. Shaji Mathew, Chief Human Resources Officer at Infosys, however,...
Markets End Marginally Lower In Volatile Trade
MUMBAI: Benchmark indices Sensex and Nifty ended marginally lower in a volatile trade on Wednesday dragged by blue-chip IT stocks. The 30-share BSE benchmark Sensex dipped 28.21 points or 0.04 per cent to settle at 75,939.18. Intra-day, it hit a high of 76,338.58 and a low of 75,581.38, gyrating...
India, Qatar Aim To Double Trade To $28 Billion In 5 Years, Explore FTA
NEW DELHI: India and Qatar are exploring the possibility of signing a free trade agreement (FTA) in future and the two nations have set an aim of doubling bilateral trade to $28 billion in the next five years. “While there are talks going on for the India-Gulf Cooperation FTA,...
India’s Fiscal Trajectory In Line With Our Expectations: S&P Global Ratings
NEW DELHI: S&P Global ratings on Tuesday said that India has had a strong record of meeting revenue and fiscal deficit targets at the central level and that the rating agency’s expectations for fiscal trajectory in India are in line with projections made in the Union Budget for financial...
VSAT Players To Vacate Key Spectrum Band For Telecom Companies
NEW DELHI: In a move set to benefit telecom operators and consumers, the government will be directing VSAT (very small aperture terminal) service providers such as Tata Group’s Nelco, Hughes Communications and Inmarsat to vacate the 6 GHz spectrum band to make way for high-speed 5G and future 6G...
Demand For Indian Workers Set To Rise In Seven Key Regions
NEW DELHI: The international employment landscape for Indian workers remains strong, with sustained hiring across regions, as many as 3 million Indian workers expected to get employment opportunities from seven key countries by 2030, according to an analysis by the Union labour ministry. Among the seven countries – Saudi...
Insurance Cover For Bank Deposits May Be Doubled
NEW DELHI: The Centre is considering doubling the insurance cover for bank deposits, from Rs 5 lakh at present, to assuage the concerns of depositors, especially senior citizens, and strengthen the trust in the banking system, sources told FE. An announcement in this regard is expected by March end....
Trade Deficit Widens To Nearly $23 Billion In January As Exports Shrink
NEW DELHI: India’s merchandise trade deficit widened to nearly $23 billion in January, compared with $16.5 billion a year earlier, as the value of exports dropped amid subdued demand for petroleum products and global economic uncertainties. Exports contracted by 2.4 per cent year-on-year to $36.43 billion in January, according...
