Business

No Hike In Essential Medicines Prices This Fiscal Year: Mandaviya

NEW DELHI: Union Minister Mansukh Mandaviya said on Thursday said there will be no increase in prices of essential medicines this fiscal year in view of negligible growth in wholesale price-based inflation. In an interaction with PTI editors at the news agency’s headquarters here, Mandaviya — the Union Chemicals...

Apr 5 · >

US Has Not Asked India To Reduce Russian Oil Imports, Say Officials

NEW DELHI: The US on Thursday said permitting an unrestricted Russian oil trade was and remains “unacceptable” and the western price cap on Moscow’s petroleum products is designed to force it to continue selling oil but for lower prices than it could otherwise obtain. At the same time, US...

Apr 5 · >

Telangana In Talks With Tesla To Set Up Electric Car Plant

HYDERABAD: The Telangana government is holding discussions with Tesla by putting in all efforts to establish their plant in the state, Industries Minister D Sridhar Babu said on Thursday. In a message on X Sridhar Babu said since December 2023 the state government has been actively focusing on major...

Apr 5 · >

RBI, NPCI Make Presentation To WTO Members: Official

NEW DELHI: Senior officials of the RBI and the National Payments Corporation of India (NPCI) have made a presentation to the WTO members on reducing cost of remittances on March 25, an official said. India is pressing for the adoption of open and inter-operable payment systems like UPI, among...

Apr 5 · >

HDFC Bank Loan Book Crosses Rs 25 Lakh Crore In Q4

NEW DELHI: Private sector lender HDFC Bank on Thursday said its loan book crossed Rs 25 lakh crore in the fourth quarter ended March 2024. The bank’s gross advances aggregated to Rs 25.08 lakh crore as of March 31, 2024, a growth of 55.4 per cent over Rs 16.14...

Apr 5 · >

Merchandise Exports May Shrink Despite Expecting Double-Digit Growth In March

NEW DELHI: Merchandise exports from India for the financial year 2023-24 (FY24) may show a contraction of around 1-1.5 per cent after two consecutive years of growth, even as March is likely to witness robust double-digit growth, according to initial trade data estimates. The final data is still being...

Apr 4 · >

India To Build First Commercial Crude Oil Strategic Storage

NEW DELHI: India, the world’s third biggest oil consumer and importer, plans to build its first commercial crude oil strategic storage as part of efforts to shore up stockpiles as insurance against any supply disruption. Indian Strategic Petroleum Reserves Ltd (ISPRL), a special purpose vehicle created by the government...

Apr 4 · >

Blackstone To Invest $2 Billion Annually In India With Primary Focus On Infra

MUMBAI: US-based private equity (PE) giant Blackstone Group, which has already invested $50 billion in India, plans to inject an additional $25 billion into the country’s economy in the years ahead, with primary focus on infrastructure, data centres, and logistics. “Blackstone continues to escalate its investments and perceives an...

Apr 4 · >

Centre Seen To Have Met FY24 Gross Tax Target

NEW DELHI: The year 2023-24 not only witnessed multi-year high tax buoyancy levels – mainly on the direct taxes front – but also higher level of compliance from taxpayers, and strict enforcement measures against tax evaders. Total tax receipts (before devolution to states) of the Centre in FY24 “slightly...

Apr 4 · >

FPI Net Investments In Debt Market Surge To $14.58 Billion In FY 2024

MUMBAI: Net investments by foreign portfolio investors in the debt market surged to $14.58 billion in FY 2024, making it the highest net inflow in the past six years as investors turned bullish following announcements to include government securities in global indices. Over 70% of the inflows have come...

Apr 4 · >
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