Business
Cabinet Nod To ITI Upgrade Scheme Likely In FY25
NEW DELHI: The ITI (industrial training institute) upgradation scheme introduced in the budget 2024-25 is expected to be approved by the Cabinet in the current fiscal year itself, an official in the skills development ministry told FE. “The ministry has prepared the proposal for the scheme, and it will...
Japan Finds New Bright Spots For Investment In India
NEW DELHI: Japanese investments in India are moving beyond the well-established patterns and are now exploring new avenues in financial services, electronics and telecommunications. According to Seiji Ota, partner at Deloitte India, Japanese investment patterns in India have evolved significantly over time. “While the automotive and diversified industrial sectors...
Centre Rethinks On GST Waiver For Insurance
NEW DELHI: The Centre may push back against a proposal to give goods and services tax (GST) exemption for certain insurance policies, as it reckons that this would raise the cost of insurers, leading a firming up of premium amounts. However, it will strongly pitch for a major reduction...
Labour Ministry Plans EPFO Pension Scheme For Platform-Based Gig Workers
NEW DELHI: The government is likely to soon introduce a scheme to provide pensions to platform workers, along with bringing them under social security net, according to a senior official. The scheme, which will be administered by the Employees’ Provident Fund Organisation (EPFO), is likely to provide pensions to...
India Has Received USD 1.16 Billion In Climate Finance So Far: Government
NEW DELHI: India has so far received $ 1.16 Billion for climate projects through the financial mechanism of the United Nations Framework Convention on Climate Change, the government informed Parliament on Thursday. This amount includes $ 803.9 Million from the Green Climate Fund, $ 346.52 Million from the Global...
Mobile Phone Tariff Declined 94 Per Cent Since 2014: Scindia
NEW DELHI: Union Communication and Information Technology Minister Jyotiraditya Scindia on Thursday said that mobile phone tariff has come down by 94 per cent since 2014. Replying to a supplementary on an oral question, Scindia said, “There are 90 Crore mobile phone subscribers. Today there are 116 Crore mobile...
EPFO Settles Five Crore Claims Worth Over Rs 2 Lakh Crore in FY25
NEW DELHI: Labour Minister Mansukh Mandaviya on Thursday said retirement fund body EPFO has achieved a historic milestone by crossing the 5-Crore claims settlement mark in a fiscal in 2024-25. In the ongoing FY25, the Employees’ Provident Fund Organisation (EPFO) has processed over 5.08 crore claims amounting to `2,05,932.49...
SEBI Slaps Rs 34 Crore Fine On Brightcom Group
NEW DELHI: Markets regulator SEBI on Thursday slapped penalties totalling `34 Crore on Brightcom Group Ltd, its promoters, and others, for misrepresenting the financial statements of the company. The regulator imposed a fine of `15 Crore each on M Suresh Kumar Reddy and Vijay Kancharla – promoters of Brightcom...
SBI Q3 Profit Surges 84 Per Cent To Rs 16,891 Crore
NEW DELHI: The country’s largest lender SBI on Thursday reported an 84 per cent jump in standalone net profit to Rs 16,891 crore in the December quarter. State Bank of India (SBI) had earned a standalone net profit of Rs 9,164 crore in the year-ago period. The bank’s total...
India Inks Contract With Russia For Procurement Of Anti-Ship Cruise Missiles
India has officially signed a contract with Russia for the procurement of anti-ship cruise missiles, a strategic move aimed at enhancing the combat capabilities of the Indian Navy’s submarine fleet. The contract was finalized on February 4, 2025, during a ceremony in New Delhi attended by Defence Secretary Rajesh...
India, Japan Discuss Steel Trade, Technology Collaboration At Third Steel Dialogue
NEW DELHI: The 3rd India-Japan Steel Dialogue was held on February 4, 2025, at Vigyan Bhavan, New Delhi, jointly organized by the Ministry of Economy, Trade and Industry (METI), Japan, and the Ministry of Steel, India. The dialogue was co-chaired by Vinod Kumar Tripathi, Joint Secretary, Ministry of Steel,...
Ola Electric Enters EV Motorcycle Segment With Launch Of Roadster X Series
MUMBAI: Ola Electric, the leading brand in the electric two-wheeler market, has entered the electric motorcycle segment with the launch of the Roadster X series. The lineup includes five variants, with introductory prices starting at Rs 74,999. Deliveries for the Roadster series are set to begin in mid-March. The...
ONGC Sets FY26 Capex Target At Rs 36,920 Crore
State-owned oil exploration and production company Oil and Natural Gas Corp (ONGC) has set its capex target for the upcoming financial year 2025-26 at Rs 36,920 crore, the company said in its investor meet. Of this, the company intends to spend 38% as capital, 30% in development drilling, and...
Get Out Of The Way; Deregulation Critical For MSMEs As Economy Seen Growing 6.3-6.8% In FY26: CEA
NEW DELHI: India’s economic growth might not recover from the four-year low of 6.4% seen for FY25 (first advance estimates), in the next financial year, according to the Economic Survey 2024-25 tabled in Parliament on Friday. It stressed the need to employ the domestic levers with greater vigour to...
New Agency Likely To Run BharatTradeNet
NEW DELHI: BharatTradeNet (BTN) that the government has proposed for a single interface for trade documentation will need a specialised agency for implementation and would take at least 2-3 years to become operational, a senior official said. “Whatever is required to achieve the objective of BharatTradeNet cannot be done...
Growth In Services Sector Slows To More Than 2-Year Low: PMI Survey
MUMBAI: Growth in India’s dominant services sector in January slumped to the slowest in more than two years as demand softened but remained strong and led to a substantial rate of hiring, said a private survey on Wednesday. The HSBC final India Services Purchasing Managers’ (PMI) Index, compiled by...
New RBI Governor Set To Begin Interest Rate Cuts As Global Risks Escalate
MUMBAI: India’s new central bank governor is expected to deliver an interest rate cut in his first policy meeting, shifting the focus to boosting economic growth as global risks escalate. Governor Sanjay Malhotra, who took charge in mid-December, is likely to depart from the hawkish approach of his predecessor,...
Plan To Raise Rs 16,000 Crore From Sale Of MTNL, BSNL Assets In Last Lap
NEW DELHI: The finance ministry has firmed up a plan to raise ₹16,000 crore by selling off assets belonging to state-run telecom companies Mahanagar Telephone Nigam Ltd (MTNL) and Bharat Sanchar Nigam Limited (BSNL). The proposal, already cleared by the National Land Monetization Corporation (NLMC) and the Department of...
