Business
EY Report Forecasts India’s GDP Growth Seen At 6.5 Percent In FY25, FY26
NEW DELHI: India’s economy is likely to grow by 6.5 per cent in the current and the next financial year, an EY report said, attributing lower than anticipated expansion in the September quarter to fall in private consumption expenditure and gross fixed capital formation. Real GDP growth eased to...
Regular Employees In CPSEs Dropped 3.1% To 0.81 Million In FY24: Survey
NEW DELHI: The number of regular employees hired by Central Public Sector Enterprises (CPSEs) declined 3.14 per cent to 814,018, while that of contract workers rose 8.8 per cent to 704,565 in the financial year 2023-24 (FY24), according to the latest Public Enterprises Survey released last week. CPSEs across...
Investors Get Good Exits In IPO Frenzy
MUMBAI: Investors and promoters have taken home close to Rs 1 lakh crore through the sale of shares in initial public offerings (IPOs) in 2024, the highest level in at least 10 years. The amount raised through the sale of fresh shares was around Rs 64,300 crore. This is...
Rupee Sees Relative Gain As Other Currencies Fall More VS $: RBI
MUMBAI: A relatively weak rupee, in the short term, benefits India’s trade balance, a report published by RBI said. However, in the long run, a stronger rupee is more beneficial to trade balance. Trade balance is the difference between exports and imports of goods and services. The report, published...
Markets Surge In Early Trade On Buying In Blue-Chip Bank Stocks
MUMBAI: Benchmark indices Sensex and Nifty surged in early trade on Thursday amid a rally in Asian markets and buying in blue-chip bank stocks. The 30-share BSE benchmark Sensex jumped 425.5 points to 78,898.37 in early trade. The NSE Nifty surged 123.85 points to 23,851.50. From the 30 blue-chip...
BPCL Picks Andhra Pradesh For India’s Last Greenfield Refinery Project
NEW DELHI: State-owned Bharat Petroleum Corporation Ltd (BPCL) has picked Andhra Pradesh for setting up a new oil refinery-cum-petrochemical complex, which may be the last greenfield project in India which has detailed a very ambitious energy transition plan to net zero emissions. In a stock exchange filing, BPCL said...
Government Committed To Improve Quality Spending In FY26: FinMin Report Amid Legal Tussle With SEBI
NEW DELHI: The government will continue its focus on improving quality spending, strengthening the social security net and bring down the fiscal deficit to 4.5 per cent of the GDP in FY26, a finance ministry document said. Finance Minister Nirmala Sitharaman is schedule to present the Budget for 2025-26...
Infrastructure Projects, Marketing Campaigns Drive Tourism Growth In 2024
NEW DELHI: The Ministry of Tourism, Government of India, undertook several key initiatives in 2024 to boost tourism in the country. These included infrastructure development projects under Swadesh Darshan and PRASHAD schemes, promotion and marketing campaigns like “Bharat Parv” and “Dekho Apna Desh,” and participation in international travel fairs...
GoMechanic Eyes Over 3-Fold Business Growth By 2027
NEW DELHI: Car services and repair platform GoMechanic expects over three-fold rise in net revenue to Rs 700 crore by 2027 and thereafter go for public listing, a top official of the company said. GoMechanic Co-Founder and CEO Himanshu Arora told PTI that the company at present has around...
Govt May Peg FY26 Fiscal Deficit Lower Than 4.5% Of GDP
NEW DELHI: The Union government is committed to pursuing the glide path of fiscal consolidation, as announced in Budget for FY22, and to attain a level of fiscal deficit “lower than 4.5%” of GDP by FY26, the finance ministry said. Going forward, the thrust will be on improving the...
Govt Weighs Junking Customs Relief In ‘Make In India’ Push
NEW DELHI: India could in the upcoming budget remove customs duty exemptions for certain imported components such as bulk drugs used to manufacture certain insulins, raw material to produce rough lab grown diamonds, plastics used to manufacture optical fibre, components used in LED and LCD TV panels and goods...
Offer Tariff Plans With Only Voice, SMS: TRAI
NEW DELHI: Batting for the “right to choice” of feature phone users and the aged and rural customers – many of whom do not use internet on phones — telecom regulator Trai on Monday ordered mobile operators to start offering tariff plans with just voice and SMS and not...
Food Inflation Continues To Play Spoilsport For FMCG Sector: Kantar Report
NEW DELHI: The fast-moving consumer goods (FMCG) sector has witnessed a significant slowdown due to rising inflation, the latest Kantar FMCG Pulse report has found. According to the report, it is not just urban markets but rural ones too that are showing signs of a slowdown. The August-October (ASO)...
Discoms To Miss Target To Cut A&T Losses Again
NEW DELHI: Even as the national Aggregate Technical & Commercial (AT&C) losses of electricity have reduced to 15.37% in 2023 from 27.8% in 2008-09, many states have continued to high losses even in the past five years. This may hamper the reduction of losses to 12-15% as targeted by...
Venture Capital Investments Hit $16.7 Billion This Year Powered By Tech Sector
MUMBAI: Venture capital (VC) activity in India between January and November 2024 recorded a total value of $16.77 billion across 888 deals, a 14.1 per cent increase in value and a 21.8 per cent rise in deal count compared with $14.69 billion across 729 deals during the same period...
New Year Looks Dull For Emerging Markets Due To Trump’s Tariffs, Trade Wars
Emerging markets-focused investors have had little to celebrate over the past year. Or for that matter, over the past decade. Now the prospect of Donald Trump’s tariffs and trade wars has some considering abandoning them altogether. From stocks to currencies to bonds, 2024 was yet another year in which...
India Sticks To Stand, No Investment Treaties With FTAs
NEW DELHI: Despite the demand from some partners for inclusion of investment protection treaties in the free trade agreements that are under negotiation, India would stick to its stand of signing separate treaties for investments and not making them part of FTAs, a senior official said. India is currently...
Banks Urge RBI To Extend Deadline For Overlapping Lending Rules
MUMBAI: Banks have requested the Reserve Bank of India (RBI) to extend the timeline for adhering to new guidelines that prohibit overlapping lending activities between banks and their group entities. In their feedback submitted through the Indian Banks’ Association (IBA), banks have sought an extension beyond the proposed two-year...
