Business
Asian Development Bank Lowers India’s Growth Forecast To 6.5% For FY25
NEW DELHI: The Asian Development Bank (ADB) on Wednesday lowered its India growth forecast for the current financial year (FY25) to 6.5 per cent from 7 per cent earlier. “India’s growth in Q2 slowed more than expected due to weak industrial output as tighter prudential norms by the central...
Need To Distinguish Norms Between Financial & Non-Financial Sectors: CEA
NEW DELHI: Chief economic advisor V Anantha Nageswaran on Wednesday underscored the need to distinguish between regulations for financial and non-financial sectors, arguing that competition in the financial sector can at times lead to excessive risk-taking and instability, as manifest in the 2008 global financial crisis. Regulators, he said,...
SEBI Expands Insider Trading Net
MUMBAI: The Securities and Exchange Board of India (Sebi) has notified the expansion of the definition of “connected persons”, who have access to price-sensitive information, with effect from December 5. Bringing in more people under the scanner, the regulator has included relatives, related firms or partners and people living...
Telecom Operators Deploy Tech To Block All Pesky Messages: COAI
NEW DELHI: Telecom operators have deployed technology to block all pesky messages with immediate effect, industry body COAI said on Wednesday. The Telecom Regulatory Authority of India (TRAI) had set deadline of December 11 for telecom service provider to trace and block all messages that do no comply with...
India Set For Resilient Growth In 2025 Driven By Urban Consumption: S&P
NEW DELHI: The Indian economy is set for resilient growth in 2025 on the back of strong urban consumption, steady services sector growth, and ongoing investment in infrastructure, S&P Global Ratings has said in its latest India Outlook. The global ratings agency kept the FY25 gross domestic product (GDP)...
Restoring Inflation-Growth Balance Most Important Priority For RBI: Shaktikanta Das
MUMBAI: Restoring the inflation-growth balance is the most important task ahead for the Reserve Bank of India (RBI), outgoing Governor Shaktikanta Das said on the last day of his tenure while listing out some key issues for his successor, Sanjay Malhotra. “Restoring the inflation-growth balance is the most important...
Retail Inflation Likely Fell Sharply To 5.6 Per Cent In November
NEW DELHI: Retail inflation, based on the Consumer Price Index (CPI), likely fell to 5.6% in November from a 14-month high of 6.21% in October, according to the median of 17 estimates. The sharp decline in the headline print was mainly due to cooling food prices, specifically of vegetables....
India Pitches For Per Capita Subsidy Formula At WTO To Protect Poor Fishpeople
NEW DELHI: India has flagged the disparity between the high fisheries subsidies of $76,000 per fisher per year, given by developed countries as against $35 that New Delhi gives. At the World Trade Organization (WTO), India has proposed that disciplines to curb harmful subsidies should be based on a...
Budget 2025 May Take A Conservative Path, Peg Nominal Growth At 9.5%
NEW DELHI: The Centre may pencil in a conservative nominal gross domestic product (GDP) growth estimate of 9.5% or thereabouts in the budget for 2025-26, as it expects inflation to slow down next fiscal although economic activity would remain strong, people aware of early deliberations on the matter said....
Revenue Secretary Sanjay Malhotra Succeeds Shaktikanta Das As RBI Governor
NEW DELHI: The government on Monday appointed Union revenue secretary Sanjay Malhotra as the 26th governor of the Reserve Bank of India (RBI) for a three-year term starting December 11. The announcement by the Cabinet Committee of Appointments, came just a day before incumbent Shaktikanta Das’s extended six-year term...
Rajasthan Summit: Vedanta, Top Industrialists Announce Major Investments
JAIPUR: At the inaugural conclave of the Rising Rajasthan Global Investment Summit 2024 here on Monday, India’s leading industrialists announced their respective group’s investment plans for the state, including Vedanta Group Chairman Anil Agarwal committing Rs 1 trillion to augment zinc and oil production. The country’s top industrialists, with...
India, Australia Outline Path For Early Conclusion Of Comprehensive FTA
NEW DELHI: The department of commerce on Monday said that India and Australia have “outlined a path forward for the early conclusion” of the Comprehensive Economic Cooperation Agreement (CECA) between both nations. During a three-day stocktake meeting between both nations during 4-6 December, New Delhi and Canberra discussed several...
Blackstone Eyes $10 Billion For Third Asia PE Fund, To Bet Big On India
MUMBAI: Blackstone Inc, the world’s largest alternative asset manager, is aiming to raise $10 billion with its third Asia focused private equity fund, with a major portion allocated to India in 2025. “We are in the process of raising a third Asia focused fund – with the first close...
India’s Upstream Policy Overhaul, Windfall Tax Removal Likely To Draw In Global Oil Firms
NEW DELHI: India’s move to broaden the scope of its exploration policy beyond petroleum and natural gas while abolishing a windfall tax on domestically produced crude oil will likely draw in private and foreign entities to the upstream sector. The exploration and production (E&P) sector has witnessed an uneven...
ONGC May Hold Auctions To Pick Green Energy Project Developers
Oil and Natural Gas Corp (ONGC) is looking to hold auctions to select developers for building its planned 1.2 GW greenfield renewable energy projects, a senior company executive said. India’s largest oil and gas producer aims to hold two rounds of auctions, offering 600 MW in each, with the...
A Booming And Coal-Heavy Steel Sector Risks India’s Green Goals
India’s booming and coal-dependent steel industry means the country faces a “rocky and uncertain path” toward achieving its goal of reaching net zero by 2070, according to Global Energy Monitor. The country has the most steelmaking capacity under development in the world, surpassing even China, the climate research group...
India’s Steel Imports Take A Dip In November Even As Exports Stabilise At 0.4 MT
India’s steel exports stabilised in November in the 0.4 million tonne (mt) range in view, witnessing a 71 per cent y-o-y growth, because of a low-base effect (0.23 mt) and orders coming in from select European markets. This was the second straight month when exports rose y-o-y. Although range-bound...
India Gets Its Latest Multi-Role Stealth Frigate, Commissioned In Russia By Rajnath Singh
NEW DELHI: The country’s latest warship INS Tushil, the 3,900-tonne multi-role stealth frigate packed with weapons and sensors, was commissioned at Kaliningrad on Monday, with defence minister Rajnath Singh stating that not only will India and Russia further strengthen their extensive defence ties but also give priority to collaboration...
