Business
GST Council Defers Insurance Decision
JAISALMER: The Goods and Services Tax (GST) Council on Saturday deferred crucial decisions on a large-scale rate rationalisation, taxation of health and life insurance premiums, and on how to restructure the compensation cess after the March 2026 deadline. While a decision on cutting GST on food delivery apps from...
India Has Potential To Be Key Sustainable Aviation Fuel Producer, Says IATA Official
GENEVA/NEW DELHI: India has the potential to be a key producer of sustainable aviation fuel by utilising its ethanol supplies and availability of lipids feedstocks like non-edible industrial oils, according to a senior official at the global airlines’ grouping IATA. With decarbonisation in focus, efforts are being made to...
Govt To Infuse Rs 500 Crore In IFCI To Improve Its Financial Health
NEW DELHI: The government has decided to infuse Rs 500 crore capital in state-owned IFCI to improve its financial health ahead of the company’s proposed restructuring and consolidation into a group. With the infusion, the government of India’s holding in the company is expected to further increase from existing...
CII Seeks Reforms In India’s Priority Sector Lending Framework
NEW DELHI: Industry body CII has proposed reforms in India’s Priority Sector Lending (PSL) framework, suggesting inclusion of emerging sectors and high-impact sectors like digital infrastructure, green initiatives, healthcare, and innovative manufacturing. Arguing that current Development Finance Institutions (DFIs) like SIDBI and NaBFID (National Bank for Financing Infrastructure and...
Leather Exports Likely To Grow By Over 12 Per Cent To USD 5.3 Billion This Fiscal: CLE
NEW DELHI: The country’s leather and footwear exports are expected to grow by over 12 per cent to USD 5.3 billion in the current financial year on account of healthy demand in key global markets, CLE Chairman Rajendra Kumar Jalan has said. He also said several global companies, including...
FPIs Pull Out Equities Worth Rs 976 Crore This Week Amid Rising Dollar
NEW DELHI: After two weeks of buying, FPIs turned net sellers in Indian equities this week, with a net withdrawal of Rs 976 crore amid a strengthening US dollar and steady rise in US 10-year bond yields, impacting investor sentiment. Foreign Portfolio Investors (FPIs) began the week on a...
States Seek Higher Interest-Free Capex Loans, Increased Borrowing Limit
JAISALMER: State finance ministers urged Union Finance Minister Nirmala Sitharaman on Friday to increase allocations for the 50-year interest-free loans to states for capital expenditure and to raise their borrowing limits in the upcoming Union Budget for 2025-26. “We have asked the Centre to raise states’ borrowing limit to...
India Raises Issue Of Non-Tariff Barriers With EU
NEW DELHI: India has said that the non-tariff barriers are impeding trade with the European Union and has called for addressing the long-pending issues as a confidence building measure. The issue of the barriers Indian exports face in the EU was raised by Commerce and Industry Minister Piyush Goyal...
Defence Ministry Signs Rs 7,629-Crore Deal With L&T For Additional K9 Vajra Artillery Guns
NEW DELHI: The Ministry of Defence (MoD) on Friday signed a Rs 7,628.70 crore contract with Larsen & Toubro Limited (L&T) for the procurement of additional 155 mm/52 calibre K9 Vajra-T self-propelled tracked artillery guns for the Indian Army. Announcing the contract, an MoD release stated that the procurement...
India Signs $350 Million Loan Agreement With ADB To Expand Manufacturing Sector
NEW DELHI: The central government and the Asian Development Bank (ADB) signed a USD 350 million policy-based loan under the second subprogram of Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) program. The Ministry of Commerce & Industry in an official statement stated that this policy-based loan aims to expand...
Digital Competition Law Unlikely Before Second Half Of FY26
NEW DELHI: A proposed digital competition law to regulate large players is unlikely to be finalised before the second half of the next fiscal, as the government intends to have comprehensive inter-ministerial consultations due to the complexity of the subject matter, people aware of the development said. The idea...
Rupee Recovers From All-Time Low, Gains 10 Paise To 85.03 Against US Dollar
MUMBAI: The rupee saw some recovery from its all-time low level and appreciated 10 paise to close at 85.03 (provisional) against the US dollar on Friday, on softening of the US dollar index and a potential intervention by the Reserve Bank of India (RBI). Forex traders said the rupee...
Bihar Has Potential To Become Major Growth Engine: Minister
PATNA: Bihar Industries and Tourism Minister Nitish Mishra on Friday asserted that the state is poised to play a key role in the country’s growth engine, as he announced a record Rs 1.8 lakh crore investments across sectors, more than triple the amount received at its maiden investor meet...
Six Entities Pay Rs 3.49 Crore To Settle Front-Running Trade Case With SEBI
NEW DELHI: Six entities, including Samir Kothari and Jitendra N Kewalramani, has settled with Sebi in a case pertaining to the suspected front-running of trades by paying ` 3.49 crore towards settlement charges. The other entities that settled the matter with the Securities and Exchange Board of India (Sebi)...
CREDAI Urges Central Govt To Reconsider 18% GST On FSI Charges
LUCKNOW: The Confederation of Real Estate Developers’ Associations of India (CREDAI) has urged the Central Government to reconsider its proposal to impose an 18% Goods and Services Tax (GST) on Floor Space Index (FSI) and additional FSI charges paid to local authorities for real estate projects. CREDAI warned that...
HC Upholds Award Of Tender To Adani Group To Redevelop Dharavi Slums
MUMBAI: In what came as a big relief to the Adani group, the Bombay High Court on Friday dismissed a petition filed by UAE-based Seclink Technologies challenging the Maharashtra government’s decision to cancel its 2019 bid for the redevelopment of Dharavi slums and issue a fresh tender in 2022....
Rupee Slides Past 85 Vs $ To Hit New Low After Hawkish US Fed Outlook
MUMBAI: The rupee breached the psychologically significant 85-per-dollar mark, and government bond yields rose on Thursday following the US Federal Reserve’s meeting, which signalled a more cautious pace of future interest rate cuts, unsettling financial markets, according to dealers. Several Asian currencies performed worse than the rupee. Indian equities...
Unregulated Lenders Could Face Up To 10 Years In Prison
NEW DELHI: The Centre has floated a draft Bill to bar all persons or entities not authorised by the financial sector regulators and not registered under any law from public lending. The new law, which will extend to the digital sector, where unathorised lending apps proliferate, will include provisions...
