Business
Demand Slowdown Pulls Down Services PMI To 10-Month Low In September
NEW DELHI: Growth in India’s dominant services sector declined to a 10-month low in September on the back of a slowdown in demand as new business, international sales, and output all rose at their slowest rates since late 2023, according to a private business survey released on Friday. The...
‘Navratna’ MTNL Is Now An NPA In SBI’s Books
MUMBAI: Mahanagar Telephone Nigam (MTNL), a Navratna company, has been declared a non-performing asset (NPA) by State Bank of India (SBI), the state-run telco informed the exchanges on Friday. This comes a month after Punjab National Bank (PNB) downgraded the loan accounts of the company, which provides services in...
China Outpacing India In Technology, Defence Production & Infrastructure, Says IAF Chief
NEW DELHI: With China steadily eroding India’s air combat advantage along the frontier by deploying a greater number of aircraft, the Indian Air Force chief on Friday said his force was also upgrading its forward airbases and advance landing grounds, while asking Hindustan Aeronautics Limited for faster delivery of...
After FY26, GST Cess May Stay In New Avatar
NEW DELHI: With most states not keen to let go of revenues, the Goods and Services tax (GST) compensation cess will likely be retained beyond January 2026, by when the compensation-related loans and interest would likely be fully repaid, sources said. However, the cess would be “re-branded” with a...
OMCs To Invest Over Rs 1.9 Lakh Crore In Expansion Of Refining Capacity By 2030
NEW DELHI: India’s oil marketing companies are expected to add 35-40 million tonnes of crude oil refining capacity by the end of the fiscal 2029-30 in order to meet the growing energy demands of the country and the expected growth in consumption, as per Crisil Ratings. Furthermore, the agency...
Railways Floats Tenders For Placing Kavach On 9,600 Km Of Tracks
NEW DELHI: The railways ministry has fast-tracked its plans to install the Kavach Automatic Train Protection system in the wake of the recent accidents and has floated tenders for fixing it on 9,600 km of railway tracks as well as equipping 10,000 locomotives with the device in the coming...
TRAI Seeks Views On Satcom Spectrum Allocation And Pricing Methodology
NEW DELHI: The telecom regulator has sought views on the pricing methodology and terms and conditions of allocating satellite spectrum — without auctions — to companies seeking to launch satellite broadband services in the country. Global biggies such as Bharti Group-backed Eutelsat OneWeb, Amazon-backed Kuiper, Elon Musk’s Starlink, Globalstar...
EPFO Gets Smarter, Claims Settlement Now 30 Per Cent Faster
NEW DELHI: Processing of claims by the Employees’ Provident Fund Organisation (EPFO) has seen a sharp jump of about 30% year-on-year in August-September, thanks to the latest software upgrade by the world’s largest retirement fund body’s digital platform. The slower pace of claims settlement by EPFO had earlier been...
AICTE, OPPO India Launch Second Phase Of ‘Generation Green’ Campaign
The All-India Council for Technical Education (AICTE) and OPPO India launched the second phase of their ‘Generation Green’ campaign with a nationwide e-waste awareness drive at Ramjas College, University of Delhi. Ramjas College became the first ‘Eco-Conscious Champion Institute’ under the initiative. The campaign aims to educate youth on...
New PLI Scheme For Specialty Steel: Government
NEW DELHI: The government is working on the another round of the PLI scheme for speciality steel as the response for the first round of the initiative did not meet expectations, according to Steel Secretary Sandeep Poundrik. The top ministry official made the remarks at CII Steel Summit 2024...
Karnataka Launches Draft GCC Policy To Attract Investments, Create Jobs
NEW DELHI: The Karnataka Government on Friday launched a draft Global Capacity Centres (GCC) policy with the aim to generate USD 50 billion economic output and attract 500 new GCCs by 2029, creating 3.5 lakh jobs. According to officials, this policy is designed to enhance investor confidence, promote seamless...
Government Plans 4.5-6 Crore Textile Jobs By 2030
NEW DELHI: The government has prepared a road map for creating 4.5-6 crore jobs in the textile sector by 2030, Union Minister Giriraj Singh said on Friday, asserting that efforts are being made to take the sector’s market size to USD 350 billion from around USD 165 billion at...
SC Clears GMR Airports To Operate Nagpur Airport, Closes Curative Plea Of Centre, AAI
NEW DELHI: The Supreme Court on Friday cleared decks for private firm GMR Airports to upgrade and operate Nagpur’s Babasaheb Ambedkar International Airport (AAI) by closing the proceedings on a curative plea of the Centre and the Airport Authority of India. The Centre and the AAI had filed a...
Ministerial Panel Looks To Rework GST Rates On Over 100 Items
KOLKATA: The ministerial panel on GST rationalisation has discussed proposals to rework the rates on over 100 items, apart from merger of the 12% and 18% slabs, but has opted to analyse it in detail, before finalising its recommendations. West Bengal FM Chandrima Bhattacharya said the rates will be...
Steel Ministry Pushes For Merger Of Debt-Hit RINL With SAIL
NEW DELHI: The steel ministry is “actively working” towards the merger of Rashtriya Ispat Nigam (RINL) with Steel Authority of India Ltd (SAIL), said a senior government official, a development that comes in the backdrop of outgoing RINL chairman Atul Bhatt opting for leave till retirement amid worsening financial...
Pickup In Public Expenditure May Keep Growth Steady: Finance Ministry
NEW DELHI: After witnessing contraction in the first quarter of the current financial year (Q1FY25), the government is expecting public expenditure to pick up in the remaining quarters, even though there is a need for monitoring automobiles and fast moving consumer goods (FMCG) sales due to slowdown seen in...
Financial Restructuring, Govt Initiatives To Push Manufacturing Helping India Inc Sail Through Rough Seas
MUMBAI: As the world’s fifth largest economy, set to become third largest by decade’s end, India is on a high-growth trajectory, supported by favourable government policies, stronger banks, robust capital markets and a young population. Core sectors and various ancillary and consumer industries will benefit from this even as...
Share Of Self-Employed Women Increased To 67% In 2023-24: PLFS Data
NEW DELHI: Helping their families run household enterprises or operating small businesses is driving the surge of women in the labour force in the country. More than two out of every three working women have been categorised “self-employed” in the latest July-June 2023-24 Periodic labour Force Survey (PLFS). A...
