Business
Government Should Target Rs 11 Lakh Crore In FY26, Give Relief To Taxpayers In Lower Bracket In Budget: ICRA
NEW DELHI: The government should target a capital spending of Rs 11 lakh crore in the Budget for the next fiscal while giving inflation-adjusted relief on personal income tax to boost consumer spending, rating agency ICRA said on Wednesday. ICRA Chief Economist Aditi Nayar said last year’s record budgeted...
ITA Submits White Paper On Darjeeling Tea Industry To West Bengal Government
KOLKATA: Leading producers body Indian Tea Association (ITA) on Tuesday said it has submitted a white paper on the Darjeeling tea industry to the West Bengal government highlighting the challenges and opportunities. A team of ITA officials met Labour Minister Moloy Ghatak on Tuesday evening and submitted the white...
India To Achieve 20 Per Cent Ethanol Blending Target In Two Months, Says Nitin Gadkari
NEW DELHI: India will achieve its target of 20 per cent ethanol blending in the next two months, Union minister Nitin Gadkari said on Wednesday. The practice of blending ethanol with petrol began in 2001 as a pilot project. “We will achieve this target of 20 per cent ethanol...
Vedanta Resources Raises USD 1.1 Billion Through Dual Tranche Bond Issuance
NEW DELHI: Mining mogul Anil Agarwal’s Vedanta Resources has raised USD 1.1 billion through a new bond offering to prepay existing liabilities, the company said in a Singapore exchange filing. Vedanta Resources Finance II plc, a wholly owned subsidiary of Vedanta Resources, raised USD 1.1 billion through a new...
Markets Log Gain For Second Day, Sensex Climbs Over 200 Points
MUMBAI: Benchmark indices Sensex and ticked higher for the second straight session on Wednesday, buoyed by buying in bellwether stock Reliance Industries, Zomato and Kotak Bank amid a largely firm trend in global markets. However, elevated crude oil prices in the international markets and buying by foreign investors weighed...
Regulatory Norms Under Review To Ease Compliance
NEW DELHI: The finance ministry is assessing all financial regulators in the country and their respective regulatory frameworks to evaluate whether over-regulation is stifling economic activity. According to official sources, the ministry is preparing a draft paper, which will highlight the regulatory provisions that should be relaxed in order...
WPI Inflation Rises To 2.37% In December On Higher Food Prices
NEW DELHI: India’s wholesale price index (WPI)-based inflation went up to 2.37 per cent in December from 1.89 per cent in November 2024, primarily due to increase in prices of food articles, manufacture of food products, other manufacturing, manufacture of textiles and non-food articles, etc, data released by the...
Larger Credit Cover For MSMEs Likely Under New Scheme
NEW DELHI: The credit guarantee scheme for MSMEs, announced in July, will take form in the upcoming Budget, with a focus on facilitating capital investments by the manufacturing sector units. The scheme will be largely modelled on the successful Emergency Credit Line Guarantee Scheme (ECLGS) for small businesses that...
India To Top G20 With 7.3% Insurance Premium Growth Over 2025-29: Report
NEW DELHI: India’s insurance market is projected to be the G20’s fastest-growing economy over the next five years, with total premium volumes — life and non-life — up 7.3 per cent in real terms on average each year aided by macroeconomic stability and the conducive regulatory environment, a report...
PMO Tells DoT To Double Down On Mobile Fraud
KOLKATA: The Prime Minister’s Office (PMO) has asked the Department of Telecommunications (DoT) to strictly enforce mandatory biometric Aadhaar verification before sale of mobile connections across India as part of the government’s efforts to combat cybercrime and digital fraud, and rein in abuse of national telecom resources. As per...
India’s Retail Inflation Eases To 4-Month Low Of 5.2% In December
NEW DELHI: Retail inflation, based on the consumer price index (CPI), fell slightly to a four-month low of 5.22 per cent in December from 5.48 per cent in November, driven by easing food inflation. However, experts say with the sharp depreciation of rupee and retail inflation remaining above 5...
India Inc’s Leverage To Improve In FY26-27 Despite High Capex: Fitch
MUMBAI: Benefitting from improving earnings before interest, taxes, depreciation, and amortization (Ebitda), Indian-rated corporates are likely to see their net leverage ratio decline to 2.7x in the next financial year 2025-26 (FY26) from 3.1x in the year ending March 2025 (FY25). The net leverage may fall further below 2.5x...
Sale Of IDBI Bank May Carry Over To FY26
NEW DELHI: The financial bids for the strategic sale of IDBI Bank will likely be received by March but the conclusion of the transaction may extend to the next financial year, sources said. In December, the Reserve Bank of India (RBI) issued the ‘fit and proper’ certificate to the...
Food Inflation Declines To 8.34 Per Cent In December
NEW DELHI: Retail food inflation eased for the second consecutive month at 8.34% in December compared to 10.87% in October as prices of vegetables declined over the last few weeks with winter harvest arriving in the market. The consumer food price index (CFPI) declined by 1.47% in December compared...
Government Set To Build Steps To Help Economy Climb
NEW DELHI: The budget is likely to unveil several measures to support demand and prop up growth, recognising that the slowing economy needs help. The measures being considered include tax relief for the middle class, tariff measures to shield the industry from the adverse external environment, and initiatives to...
India Ranks Third Globally In Fintech Funding Despite 33 Per Cent Lower Infusion In 2024
NEW DELHI: India ranked third globally in terms of funding received in the fintech segment despite a decline of 33 per cent on a year-over-year basis to USD 1.9 billion in 2024, market intelligence firm Tracxn said in a report on Monday. The sector witnessed a decline in funding,...
Infra Development Imperative To Achieve Viksit Bahrat Goal: Gadkari
SONAMARG: Union Minister Nitin Gadkari on Monday said infrastructure development is imperative to achieve the goal of Viksit Bahrat, as the economy depends on good transport and communication facilities. “The Prime Minister has given us a mission of developed and prosperous India. If we have to achieve a Viksit...
Growing Complexity Widening Cyber Inequity: World Economic Forum Report
NEW DELHI: Growing complexity in the cyber landscape is further exacerbating cyber inequity, deepening the divide between developed and emerging economies, and widening the gap between large and small organisations, the World Economic Forum said on Monday. In its Global Cybersecurity Outlook 2025, the WEF said nearly 54 per...
