Business
Data Protection Rules Get Home Ministry’s Nod
NEW DELHI: The long-awaited implementation of the Digital Personal Data Protection (DPDP) Act is one step closer to reality, as inter-ministerial consultations on the draft rules concluded on Tuesday with the home ministry’s approval. The ministry of electronics and information technology (MeitY) is now set to release the draft...
Defence Ministry Seeks To Modernise Armed Forces, Will Observe 2025 As ‘Year Of Reforms’
NEW DELHI: Defence Minister Rajnath Singh and the secretaries of the Ministry of Defence (MoD) unanimously decided to observe 2025 as the “Year of Reforms” during a New Year’s Eve meeting. The decision comes against the backdrop of ambitious defence production and export targets, as well as the rapid...
New Projects Unveiled Down 22 Per Cent In Q3: CMIE
NEW DELHI: New project starts saw a disappointing 22.1% year-on-year fall in the December, 2024 quarter reversing the trend in the September, 2024 quarter when they had recorded a smart 43% y-o-y increase. Data from the Centre for Monitoring Indian Economy (CMIE) reveals that the total value new projects...
GST Mop-Up At Rs 1.77 Lakh Crore In December
NEW DELHI: The gross Goods and Services Tax (GST) collections in December came in at Rs 1.77 lakh crore, up 7.3% on year, data released by the finance ministry on Wednesday showed. With this, the monthly gross GST mop-up has now stayed above the Rs 1.7-lakh-crore mark for ten...
Credit Growth To NBFCs Declines To 7.8 Per Cent In November
MUMBAI: Growth in credit to the non-banking financial company (NBFC) sector plummeted to 7.8 per cent year-on-year (Y-o-Y) in the fortnight ending November 29, 2024, compared to a 19 per cent increase during the same period of 2023. This slowdown contributed to a decline in growth of credit to...
India Can Use Retaliatory Measures In Case Of Trade War With US: Think Tank
NEW DELH: India has the option to retaliate against any tariff measure by the US during the Donald Trump administration in sectors such as mineral fuels, iron, and steel products. However, it should also take proactive measures to engage directly with consumers and diversify markets to mitigate any adverse...
Core Sector Growth Beats High-Base Effect, At 4-Month High Of 4.3% In November
NEW DELHI: Despite a high base effect, growth in the output of eight key infrastructure industries — popularly known as the core sector — recovered to a four-month high of 4.3 per cent year-on-year (Y-o-Y) in November from an upwardly revised figure of 3.7 per cent in October. In...
CPSE Procurement From MSEs Declines 43% To Rs 773.39 Crore In FY24
NEW DELHI: Procurement by central public-sector enterprises (CPSEs) from micro and small enterprises (MSEs) has declined by a sharp 43 per cent in 2023-24 (FY24), totalling Rs 773.39 crore, from 188 CPSEs, down from Rs 1,369.45 crore during FY23, according to the latest edition of the Public Enterprises Survey,...
India Inc’s 2025 Wish List: Building A Future-Ready Economy
NEW DELHI: As the country steps into 2025, the aspirations of its corporate sector – India Inc – are anchored in four overarching priorities: regulatory reforms, technological leadership, fiscal prudence, and measures to boost consumption. These focus areas reflect a collective ambition to propel the nation toward sustained economic...
Government Firms Up Plan To Widen Ambit Of Quality Control For Steel
NEW DELHI: The steel ministry has firmed up a plan to bring all steel grades consumed in the country – whether domestically manufactured or imported – under strict quality control norms, official sources said. The move is with the twin objectives of improving the quality of infrastructure and assorted...
Indian Economy And The Financial System Remain Strong And Stable: Financial Stability Report
MUMBAI: The Indian economy and the financial system remain strong and stable underpinned by sound macroeconomic fundamentals, healthy balance sheets of banks and non-banks and low volatility in financial markets despite some worries about global spillovers, according to the Financial Stability Report (FSR). In his foreword to the report,...
Govt Spending That Stimulates Pvt Investment, Key To Over 6% Growth: Dr Rangarajan
NEW DELHI: For a country that harbours hopes of fast emerging as a developed nation with a seat at the high table as the third-largest economy on the planet, growth numbers matter. Veteran banker and economist Dr C Rangarajan has often said that India needs to grow consistently at...
RBI Flags Risk To Secured Loans From Slippages In Smaller Personal Loans
MUMBAI: The Reserve Bank of India (RBI) cautioned in its bi-annual Financial Stability Report (FSR) that borrowers with unsecured loans, such as credit cards and personal loans, who also have larger secured loans, risk triggering delinquencies in the secured loans if they default on the smaller ones. Default in...
Industry Seeks Tax Relief, Capex Boost, Reforms At FinMin’s Pre-Budget Meet
NEW DELHI: Tax exemption for the middle class, reduction in excise duty on fuel, and continued push towards public capex were some of the key suggestions made to the finance ministry during pre-Budget discussions with industry representatives on Monday. The fifth round of consultations on the upcoming Budget with...
India Signs Rs 2,867 Crore Defence Contracts For Indigenous AIP System And Enhanced Firepower On Kalvari-Class Submarines
NEW DELHI: India has taken a significant step towards strengthening its submarine fleet with the recent signing of two crucial defence contracts worth approximately Rs 2,867 crore. These agreements, inked on December 30, 2024, mark a milestone in India’s push for greater self-reliance in defence, as well as its...
India’s Economy On Track For 6.5%-6.8% Growth In FY2025, Set To Accelerate In FY2026: Report
NEW DELHI: India’s economy is projected to grow between 6.5 per cent and 6.8 per cent in the current fiscal year, with growth expected to accelerate slightly to 6.7 per cent–7.3 per cent in FY2026, according to a Deloitte report. Despite a slower-than-anticipated first half of FY2025, which was...
Plans To Boost Indian Railways’ Operational Revenue Likely In FY2026
NEW DELHI: The surge in budgetary allocations over the recent years has increased the pace of the railways’ capacity building and all-round modernisation of the country’s rail transportation infrastructure. But whether this would suffice to produce the revenue streams for it to gradually reduce the reliance on taxpayer’s monies...
Private Banks Outrun Public Sector Peers In Priority Lending Benchmarks
MUMBAI: For the first time, private sector banks as a group met priority sector lending targets, including sub-targets for major heads in 2023-24, particularly in agriculture, according to central bank data. Although all bank groups managed to achieve their stipulated overall targets and sub-targets, private sector banks did better...
