Business
No Corruption In Foodgrain Procurement: Pralhad Joshi Junks Opposition Charges
NEW DELHI: Minister for Consumer Affairs, Food and Public Distribution, Pralhad Joshi on Tuesday claimed there was no corruption in the procurement of foodgrains and farmers were paid 100 per cent directly into their bank accounts. Responding to supplementary questions on alleged corruption through middlemen in the procurement process,...
SEBI Grants IPO Approval To SMPP, Aditya Infotech And Six Others
NEW DELHI: As many as eight firms including defence equipment manufacturer SMPP, Aditya Infotech, Brigade Hotel and PVC blend-based building material maker Kumar Arch Tech have received market regulator Securities and Exchange Board of India’s (SEBI) go ahead to raise funds through Initial Public Offerings (IPOs). Other companies that...
Microsoft Cloud Computing Biz To Grow Slowly Amid Shortage Of Data Centres
Microsoft Corp. said its cloud-computing business will continue to grow slowly in the current quarter as the company struggles to build enough data centers to handle demand for its artificial intelligence products. The Azure cloud division will grow at as much 32 per cent in its fiscal third quarter,...
IRDAI Caps Senior Citizens’ Health Premium Increase At 10% Per Annum
MUMBAI: Following multiple reports of health insurance companies significantly increasing premiums for senior citizens upon renewal, the Insurance Regulatory and Development Authority of India (Irdai) on Thursday issued a directive that mandates insurers to not revise health insurance premiums for senior citizens by more than 10 per cent annually,...
Rs 1000-Crore Fund For Climate-Resilient Farming Likely
NEW DELHI: Finance minister Nirmala Sitharaman is likely to announce the launch of a Rs 1,000 crore fund by Nabventures, a subsidiary of Nabard, for the benefit of startups in agriculture and allied sectors, working on climate-smart agriculture. Officials said the focus of Nabventures fund – II would be...
Urban Monthly Per Capita Expenditure Highest In Telangana, Kerala Tops In Rural Segment
NEW DELHI: Among 18 major states, the difference between urban and rural average monthly per capita expenditure (MPCE) of households is the lowest in Kerala, followed by Punjab, Andhra Pradesh (AP) and Bihar, data from the Household Consumption Expenditure Survey (HCES) 2023-24 report released on Thursday showed. The difference...
ARCs To See Uptick In Cumulative Recovery Rates In FY25 And 26: Crisil
MUMBAI: The rating agency Crisil Ratings today said asset reconstruction companies (ARCs) are likely to see the cumulative recovery rate of security receipts (SRs) improve by up to 15 percentage points to 75-80 per cent in the next financial year (FY26). The improvement in recoveries will be driven by...
Mini Deal, Macro Focus: PM Modi To Talk Trade In US
NEW DELHI: A limited trade deal with the US that could cover tariff concessions for certain goods and broad agreements on investment will figure high on the agenda of Prime Minister Narendra Modi’s visit to Washington DC. The February meeting will be the first with Donald Trump in his...
Indian Food Services Market Projected To Hit $144-152 Billion By 2030: Report
BENGALURU: The Indian food services market, valued at $80 billion in 2024, is expected to grow to $144-152 billion by 2030, according to Redseer Strategy Consultants’ new report, The Big Bite: Scaling Success in India’s Food Services. The projections indicate a compound annual growth rate (CAGR) of 10-11 per...
Government Approves Critical Mineral Mission With Rs 34,300 Crore Outlay
NEW DELHI: The Union Cabinet on Wednesday approved the launch of the National Critical Mineral Mission with an expenditure of Rs 16,300 crore and an additional expected investment of Rs 18,000 crore by the public sector companies. The mission will be implemented under the ministry of mines for a...
Government Plans To Borrow Rs 14-15 Lakh Crore Through Bonds
MUMBAI: The Centre is likely to announce a borrowing plan of Rs 14-15 lakh crore through dated securities in the Budget for FY26, according to economists and treasury heads. Meanwhile, industry experts expect the fiscal deficit target for FY26 to be slightly lower than the initial 4.5% of the...
Centre Readies Roadmap For Steady Reforms, Broad Framework Likely In Union Budget
NEW DELHI: The government is set to unveil in the coming months the reforms approach that will guide its economic policy making over the longer term to sustain high growth rates, said a person aware of the deliberations on the matter. The broad framework may find a mention in...
Cracks At Some Small Finance Banks: RBI Suggests Merger To Mitigate Risks
KOLKATA: The Reserve Bank of India (RBI) is learnt to have developed ‘supervisory discomfort’ with a couple of small finance banks (SFBs) due to high concentration risks and rising asset quality stress. The banking regulator has also told these banks to explore mergers to gain scale and minimise concentration...
Government Looks To Position India As Manpower Supplier To World
NEW DELHI: Skilling and job creation will be a major theme in the Budget as government seeks to fill a critical gap and in the process boost income and demand in the economy. Indian companies are looking for skilled workers, including at construction sites within the country, and...
PM Pitches For Value-Added Exports, Hints At Policy Support
BHUBANESWAR: Prime Minister Narendra Modi on Tuesday hinted at a new set of policies aimed at promoting value-added exports from India, and reducing the reliance on imported goods. Emphasising the need for Indian industry to move up the value chain, he said the country should be exporting more finished...
Exports Of Drugs And Steel To US May Face Tariff Walls Soon
NEW DELHI: US President Donald Trump on Monday clubbed India with China and Brazil, calling them ”high-tariff countries,” and said his administration would very soon be putting tariffs on clutch of products, including pharmaceuticals, aluminium and steel, which are items of export interest to India. “In the very near...
RBI Liquidity Move Fuels Relief Rally
MUMBAI: The Reserve Bank of India’s (RBI’s) measures to ease the liquidity in the banking system by infusing around Rs 1.5 lakh crore led to a relief rally on Tuesday. Leading banking stocks like HDFC Bank, ICICI Bank and Axis Bank were the top gainers, contributing almost 90% to...
Lower Tax Rates, Stick To Fiscal Path To Boost Urban Consumption: Economists
NEW DELHI: To arrest the slowdown being witnessed in urban demand, the Centre should announce a slew of targeted-measures in the upcoming Union Budget for FY26, economists said. Many of them suggest that income tax rates, in the new tax regime, should be eased to give more disposable income...
