Business
Parliament Passes Bill To Allow 100 Per Cent FDI In Insurance Sector
NEW DELHI: Parliament on Wednesday passed a bill to raise FDI in the insurance sector to 100 per cent from the current 74 per cent, which is expected to increase insurance penetration, lower premiums, and boost job creation. The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025,...
ARCs Looking To Net 120% Jump In Recoveries From Road Assets Next Fiscal: Crisil
MUMBAI: Asset reconstruction companies (ARCs) are set to see a strong step-up in cumulative recovery rates for stressed operational road projects with recovery rates doubling to 120% by next fiscal over fiscal 2025 levels on the back of healthy annuities and toll collections. This will ride on timely annuity...
Trade Pact With Oman To Benefit Key Labour-Intensive Sectors: Commerce Minister
NEW DELHI: A free trade agreement, to be signed between India and Oman on Thursday, will open up opportunities in trade and joint investments to address the markets in the region concerned and beyond, Commerce and Industry Minister Piyush Goyal said on Wednesday. He listed sectors like textiles, footwear,...
Indian Railways Electrifies 99.2% Of Network, Outpaces Japan, Russia, And China
NEW DELHI: Indian Railways has reached a major milestone by electrifying 99.2% of its broad gauge network, putting India ahead of countries like Japan (39%), Russia (52%) and China (82%), according to the Ministry of Railways. This brings the country closer than ever to having a fully electrified railway...
FPI Debt Inflows Hinge On Trade Deal Clarity, Rupee Stability
MUMBAI: Foreign investors began withdrawing from government securities in December, ending five straight months of inflows. The expectation of no more rate cuts, elevated global yields, and a declining rupee are the factors which contributed to the outflows, said market participants. A clarity on the trade deal and a...
Govt Likely To Remove 50% Cap On Sales Of Coal From Captive Mines
NEW DELHI: The central government has proposed removing the 50 per cent ceiling on the sale of coal and lignite produced from captive mines, a move aimed at clearing accumulated stockpiles and increasing mineral availability in the market. This is part of a series of reforms proposed in a...
Rupee Slips Past 91 Against Dollar Amid FPI Outflows, Riskoff Trade
MUMBAI: The rupee breached the 91-per-dollar mark to hit a fresh low of 91.09 on Tuesday, pressured by persistent foreign outflow, riskoff trade in global markets, and delay in India-US trade agreement, dealers said. It strengthened marginally towards the end of the session to settle at 91.03 per dollar,...
Tata, Reliance, Adani Among Top Five Recipients Of LIC’s Investments
NEW DELHI: Life Insurance Corporation of India (LIC) has invested the maximum amount of Rs 88,404 crore in the Tata Group, followed by an infusion of Rs 80,843 crore in HDFC Bank and Rs 60,065.56 crore in Reliance Group, Parliament was informed on Tuesday. Adani Group attracted an investment...
Govt Proposes Major Overhaul In Compilation Of Revised GDP Series, Seeks Feedback
NEW DELHI: The new Gross Domestic Product (GDP) series is set for a major overhaul with the government proposing various changes, including the adoption of the Classification of Individual Consumption according to Purpose (COICOP) 2018 for the compilation of private final consumption expenditure. The Ministry of Statistics and Programme...
Policy Tailwinds To Lift India’s Growth To 7.5% In FY27: Axis Bank
NEW DELHI: Axis Bank expects India’s growth to be above trend in 2026-27 (April-Mar) at 7.5%, on the back of structural and regulatory reforms, lower borrowing costs, accelerated capital formation and a cyclical boost from policy easing, Neelkanth Mishra, Chief Economist, Axis Bank and Head – Global Research at...
India Proposes Preferential Trade Pact With Mexico To Deal With Tariffs
NEW DELHI: India has proposed a preferential trade agreement (PTA) with Mexico to help domestic exporters deal with the steep tariffs announced by the North American country, a top government official said on Monday. Mexico has decided to impose steep import tariffs – ranging from about 5 per cent...
Centre Proposes Renaming MGNREGA To VB-G Ram G, To Change Funding Pattern
NEW DELHI: The Union government has decided to replace the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), the flagship social-welfare scheme, 20 years after it was enacted, providing for a piece of legislation with a higher number of mandatory work days and altered funding norms. The number of...
Proposed Nuclear Energy Bill Caps Operator’s Liability At ₹3,000 Crore
NEW DELHI: The government on Monday introduced in Parliament a Bill that seeks to finally open up the Indian civil nuclear energy sector to private sector players, except in uranium mining, after amending specific provisions dealing with thorny issues like the supplier’s liability and compensation in case of a...
WPI Inflation Remains In Negative Territory For 2nd Month In A Row In November
NEW DELHI: India’s factory-gate inflation, as measured by the wholesale price index (WPI), remained in deflationary territory at -0.32 per cent in November, easing from a 27-month low of -1.21 per cent in the previous month, according to data released by the Ministry of Commerce and Industry on Monday....
Unemployment Slides To 4.7% In November, Signals Steady Grip Of Job Market Recovery
CHENNAI: India’s unemployment rate fell to 4.7 percent in November, marking its lowest level since April, according to official government data, signalling a steady improvement in labour market conditions as the economy moves deeper into the second half of the financial year. The decline from 5.2 percent recorded in...
Budget May Unveil Next Round Of PSB Reforms
NEW DELHI: The government is considering a two-pronged strategy to further consolidate public sector banks (PSBs) – merging smaller lenders to create scale and gradually diluting its ownership closer to 51% to enable the banks to raise growth capital independently. According to sources familiar with the discussions on the...
Centre Identifies 300 Products To Narrow Trade Gap With Russia
NEW DELHI: As India and Russia pursue a $100 billion bilateral trade target by 2030 and seek to make exchanges more balanced, the government has identified about 300 products across sectors such as engineering, pharmaceuticals, chemicals and agriculture to help bridge the gap between current trade levels and the...
Trade Imbalances Slow Adoption Of Rupee Oil Payments
NEW DELHI: Oil companies in India are increasingly engaging with suppliers to negotiate crude oil settlements in Indian rupees (INR), but foreign suppliers remain hesitant to accept the currency, citing trade imbalances, according to the ministry of petroleum and natural gas. The ministry’s statement comes in response to a...
