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NEW DELHI: Retail inflation eased to a 10-month low of 4.85% in March while industrial output hit a four-month high of 5.7% in February, data released Friday showed. With inflation maintaining its downward trajectory, the print — which was below 5% for the first time in five months —...
NEW DELHI: Moody’s on Friday retained India’s rating, maintaining a stable outlook and projecting well over 6% economic growth over the next two fiscal years. The global rating agency kept the country’s long-term and short-term ratings unchanged at Baa3 and P-3, respectively, after a periodic review, citing a gradual...
NEW DELHI: The Telecom Regulatory Authority of India (TRAI) on Friday proposed that the government should provide funding for testing new products in the communications sector as some innovations can potentially bridge the digital divide. The proposal was a part of the recommendations released by the TRAI aimed at...
MUMBAI: State Bank of India (SBI) has approached the Reserve Bank of India (RBI) to put a cap on non-banking financial companies’ (NBFCs) lender base. Currently, many NBFCs borrow from over 50-60 lenders at the same time. The country’s largest bank believes that large number of lenders dilutes the...
MUMBAI: Vodafone Idea Limited (VIL) is set to launch a follow-on public offering (FPO) worth Rs 18,000 crore next week. The move is an attempt by the beleaguered telecom service provider to bolster its balance sheet and hold its own against formidable rivals, such as Reliance Jio Infocomm and...
NEW DELHI: The government is considering allowing sugar mills to manufacture ethanol using their excess B-heavy molasses as feedstock, amid comfortable sugar supply and stable prices in the market, according to sources. Currently, sugar mills are holding an excess stock of more than 8 lakh tonnes of B-heavy molasses...
NEW DELHI: The Centre has pegged lower the consumption of urea and di-ammonium phosphate (DAP) while raising the expected sales of muriate of potash (MOP) and complex fertilizer during kharif 2024 against the actual sales of these crop nutrients last year. The government prepares the demand estimates for all...
The country’s power distribution entities (Discoms) are weighing the Day Ahead Market (DAM) for affordable procurement of power on apprehensions of prices rising on the back of increased demand for electricity during peak summer months. “Considering the expected surge in electricity demand, many discoms entered into forward contracts through...
NEW DELHI: India, which maintains the world’s second largest operating coal-fired capacity, announced 11.3 gigawatts (GW) of new thermal power plants (TPPs) running on dry fuel — the highest in the last seven years. According to the Boom and Bust Coal 2024 report by the Global Energy Monitor (GEM),...
NEW DELHI: The government has set the target of producing 170 million tonnes of coal from captive and commercial coal blocks in the country during the current financial year. In FY24, captive and commercial coal blocks produced 147.12 million tonnes (MT) of dry fuel, 26 per cent higher from...