Business
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...
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...
