Business
Coal Production Rises 7.2 Per Cent In November, Dispatches Up By Nearly 4 Per Cent
NEW DELHI: India’s overall coal production rose by 7.2 per cent to 90.62 million tonnes (MT) in November compared to 84.52 MT in the same month of last year, the coal ministry said in a statement on Sunday. The coal output in the April-November period of the current fiscal...
FDI Inflows Jump 45 Per Cent To USD 29.79 Billion In April-September 2024
NEW DELHI: Foreign direct investment in India rose by 45 per cent year-on-year to USD 29.79 billion in April-September this fiscal on healthy inflows in services, computer, telecom and pharma sectors, according to government data. FDI inflows were at USD 20.5 billion in April-September 2023-24. In the July-September quarter,...
FPIs’ Selling Spree Continues In November At Rs 21,612 Crore
NEW DELHI: Foreign investors pulled out Rs 21,612 crore (USD 2.56 billion) from the Indian equity market in November, mainly due to the rising US bond yields, strengthening dollar and expectation of a slowdown in the domestic economy. While the sell-off continues, the quantum of net outflow significantly reduced...
GDP Growth Hits 7-Quarter Low Of 5.4% In Q2 As Manufacturing Slows
NEW DELHI: India’s economic growth slowed more sharply than anticipated in the July-September period of FY25, dropping to a seven-quarter low of 5.4 per cent, surprising analysts who had projected growth to hover around 6.5 per cent in the quarter. The deceleration in growth momentum, driven by an industrial...
Govt Capital Expenditure Drags Down Growth In Investment, Shows NSO Data
NEW DELHI: A slowdown in government capital expenditure at both central and state levels limited growth in capital investments to 5.4 per cent in the second quarter of FY25, down from 7.5 per cent in the previous quarter, according to data released by the National Statistical Office (NSO) on...
India Counters US-Led Charge Of “High Farm Support” At WTO
NEW DELHI: Five major agriculture producers led by the US have accused India of providing support to its rice and wheat producers far in excess to what the World Trade Organisation (WTO) rules allow, an allegation which has been rejected by Indian representatives in Geneva as baseless. The counter-notification...
RB(A)I Wants More Banks To Join Hunt For Mule Accounts To Curb Cyber Frauds
NEW DELHI: The central bank’s innovation arm is in talks with ten public and private banks to further the adoption of its artificial intelligence (AI)-powered tool to detect rising cases of financial fraud through widely prevalent “mule accounts”, a top executive said. The Reserve Bank Innovation Hub’s (RBIH’s) platform,...
FPIs Turn Net Seller Of Bonds First Time Since Index Inclusion
MUMBAI: Foreign portfolio investors (FPIs) turned net sellers of government securities under the fully accessible route (FAR) for the first time in November since their inclusion into the JPMorgan emerging market index. FPIs outflows were primarily driven by volatility in the rupee, narrowing interest rate differential between the US...
Exports Of India’s Medical Technology Industry Could Reach USD 20 Billion By 2030: CII
NEW DELHI: India’s medical technology industry is expected to touch exports of up to USD 20 billion by 2030 but the sector needs more government incentives and further ease of doing business to accelerate overseas shipments, industry body CII said on Friday. The production linked incentive (PLI) scheme for...
Fiscal Deficit At 46.5 Per Cent Of Full-Year Target At October-End: Govt Data
NEW DELHI: The Centre’s fiscal deficit at the end of the first seven months of financial year 2024-25 touched 46.5 per cent of the full-year target, government data showed on Friday. In absolute terms, the fiscal deficit — the gap between government’s expenditure and revenue — was at Rs...
Banks’ Credit To Industry Grows By Eight Per Cent In October: RBI Data
MUMBAI: Banks’ credit to industry grew by 8 per cent in October 2024 compared to 4.8 per cent in the year-ago period, according to the RBI data released on Friday. The Reserve Bank data also showed that credit to agriculture and allied activities registered a growth of 15.5 per...
Sentiments Of Realtors, Financial Institutions Remain Positive For Future Growth: Report
NEW DELHI: Real estate developers and financial institutions are upbeat about growth potential of the realty sector for the six months ending March next year, according to Knight Frank and NAREDCO. Real estate consultant Knight Frank and realtors’ body NAREDCO on Friday released ‘Real Estate Sentiment Index Q3 2024...
Sensex Rebounds 759 Points, Nifty Ends Above 24,100
MUMBAI: Benchmark Sensex rallied 759 points while Nifty closed above 24,100 on Friday following buying in frontline stocks Bharti Airtel and Reliance Industries. The 30-share BSE Sensex jumped 759.05 points or 0.96 per cent to settle at 79,802.79. During the day, it soared 880.16 points or 1.11 per cent...
Inflation Keeps RBI Rate Cuts On Hold Until February 2025, Shows Poll
BENGALURU: The Reserve Bank of India (RBI) is likely to hold steady on interest rates during its December 6 meeting. Rising consumer inflation has prompted many economists to push their predictions for the next rate cut back to February, according to a recent Reuters poll. Annual retail inflation in...
Corporates Increase Hedging As Shield Against Rate Volatility
MUMBAI: A host of companies are aggressively hedging in the interest rate derivatives market to help shield themselves against volatility in interest rates. The companies, which are locking in current rates in the overnight indexed swap (OIS) market, include Reliance Industries, Adani Enterprises, National Bank for Financing Infrastructure and...
India’s Gig Economy May Add 90 Million Jobs, Contribute 1.25% To GDP
BENGALURU: The gig economy market is expected to grow at a compounded annual growth rate (CAGR) of 17 per cent to reach a gross volume of $455 billion by 2024, according to a white paper by the Forum for Progressive Gig Workers. Its contribution to India’s gross domestic product...
Deposit Growth Slightly Outpaces Credit Growth At 11.21%: RBI Data
MUMBAI: Credit growth in the fortnight ending November 15 slowed to 11.15 per cent year-on-year (Y-o-Y), while deposit growth slightly outpaced credit growth, reaching 11.21 per cent Y-o-Y, according to the latest data from the Reserve Bank of India (RBI). Data shows that outstanding deposits in the fortnight ending...
December GST Meet To Consider Inclusion Of Natural Gas
NEW DELHI: The Union finance ministry has received a proposal from the petroleum ministry for inclusion of natural gas under the ambit of the Goods and Services Tax (GST), and will likely take it to the GST Council as it meets in Rajasthan’s Jaisalmer on December 21. The GST...
