Business
India Set To Achieve GDP Growth In FY25 Says Finance Ministry
NEW DELHI: India is set to achieve 6.5-7 per cent GDP growth in the current financial year as indicated by the movements in high-frequency indicators till August, a finance ministry report said on Thursday. The recent developments analysed indicate strong foundations of macroeconomic stability in India with steady growth,...
India Aims To Integrate Scalable Food Security Interventions
NEW DELHI: India is seeking to integrate scalable food security interventions into existing government programmes while promoting local crop varieties, a top government official said on Thursday. Agriculture Secretary Devesh Chaturvedi outlined these priorities during a review of the implementation of the United Nations World Food Programme’s (WFP) country...
Jio-BP Inaugurates 500th EV Charging Station
NEW DELHI: Anant Mukesh Ambani, Director, Reliance Industries Limited (RIL) and Murray Auchincloss, CEO, BP, on Thursday inaugurated the 500th Jio-BP pulse EV-charging station of Jio-BP. Jio-BP is a fuels and mobility joint venture between RIL and global energy giant BP. “The commissioning of the EV-charging station enables access...
ICRA Sees Room For Petrol, Diesel Price Cuts
NEW DELHI: A reduction in crude oil prices in recent weeks has improved margins on retail auto fuels, providing state-owned firms a headroom to cut petrol and diesel prices by Rs 2-3 per litre, rating agency Icra said on Thursday. The price of a basket of crude oil India...
Sensex, Nifty Reach Fresh All-Time High Levels In Early Trade
MUMBAI: Equity benchmark indices Sensex and Nifty hit fresh all-time high levels in early trade on Thursday amid a sharp rally in Asian markets and buying in IT stocks. The BSE Sensex climbed 202.3 points to reach an all-time record peak of 85,372.17 in early trade. The NSE Nifty...
Fresh Digital Bill On The Cards
NEW DELHI: Facing strong opposition from several quarters, the government is likely to withdraw the Digital Competition Bill (DCB), the draft of which was released in March. Sources said that a fresh Bill may be drafted after taking inputs from other ministries, MeitY for instance, as well as industry...
S&P Retains India’s FY25 Growth Forecast At 6.8%, Expects Rate Cut In October
NEW DELHI: The global credit ratings agency S&P Global on Tuesday retained India’s growth forecast at 6.8 per cent for the current financial year and expressed optimism that the Reserve Bank of India (RBI) would start cutting interest rates in its October monetary policy review. “In India, GDP growth...
Slowing Indian Economy To Drag APAC’s Growth In 2025: Moody’s Analytics
NEW DELHI: Moody’s Analytics on Tuesday said normalising growth in India would drag the Asia Pacific (APAC) region’s performance in 2025 as India’s economy is projected to slow down to 6.5 per cent in 2025 from an estimated 7.1 per cent for 2024. “In developing Asia, growth will slow...
Bank Bond Issuance Likely To Touch Rs 1.2 Trillion Level In FY25: Report
MUMBAI: Banks’ borrowings through bonds is expected to reach Rs 1.2-1.3 trillion in this financial year (FY25) amid tight liquidity conditions and credit outpacing deposit growth, according to rating agency ICRA. Bond issuances in FY25 may surpass the earlier peak of Rs 1.1 trillion in FY23, said the agency...
Group Of Ministers Not In Favour Of GST Relief To Real Estate Sector
NEW DELHI: Most members in the Group of Ministers (GoM) of the Goods and Services Tax (GST) Council are not in favour of any relief to the real estate sector with regard to the tax incidence on collaborative ventures between developers and land owners. “Most members feel the rate...
FIEO Urges Government To Extend Interest Subvention Scheme For Five Years
NEW DELHI: Apex exporters body FIEO on Tuesday urged the government to extend the interest subvention scheme for five years to help increase credit flow in the sector in order to boost the country’s shipments, which registered a steepest decline in 13-month falling 9.3 per cent in August to...
Piyush Goyal Urges Realtors To Ensure Guaranteed ESIC, PF Registrations For Seven Million Workers
SYDNEY: Union Commerce and Industry Minister Piyush Goyal on Tuesday asked the real estate industry to provide guaranteed ESIC and provident fund registrations for 7 crore people working in this sector, besides adopting new form of construction process for fast project execution with less pollution. Addressing an event organised...
President Murmu Calls For Timely Audit Of Public Finance
NEW DELHI: Underscoring the importance of timelines in auditing public finance, President Droupadi Murmu on Tuesday said if a wrong is pointed out well within time, it can be corrected and help save huge amount of public money. She emphasised the need for audit bodies keeping pace with technological...
SBI Predicts Private Capex Uptick In Second Half Of FY25
NEW DELHI: SBI Chairman C S Setty has said the bank has already got Rs 4 lakh crore strong credit pipeline from India Inc and expressed hope that capital expenditure by the private sector is expected to pick up in the second half of the fiscal year. “We see...
Mahindra In Talks To Acquire 50 Per Cent In Skoda-Volkswagen India
NEW DELHI: Indian conglomerate, Mahindra and Mahindra (M&M) is in advanced negotiations with Skoda Auto Volkswagen India Private Limited (SAVWIPL) according to a report in Autocar Professional. According to the report, it is believed that M&M is to acquire a 50 percent stake in SAVWIPL for a consideration of...
Corporate Card Use For Personal Expenses On Rise To Bypass Rules
MUMBAI: Many well-heeled persons have perfected a mechanism to use corporate credit cards for personal expenses during overseas travels. Amid fears that such overseas spends could soon come under the annual limit on foreign remittance by an individual, these high net worth customers believe that they would avoid breaching...
India Joins Three More Indo Pacific Economic Framework Pacts
NEW DELHI: India on Sunday signed up to join the clean- and fair economy components, and the overarching agreement of Indo Pacific Economic Framework for Prosperity (IPEF), at Delaware in the US, in the presence of Prime Minister Narendra Modi, who is on a 3-day visit to the country...
New Group Audit Norms To Cover A Wide Spectrum Of Economic Value
NEW DELHI: The National Financial Reporting Authority (NFRA) indicated that its revised Standards on Auditing 600 (SA 600), which are aimed at improving the quality of group audits, would cover just 1.8% of the 1.7 million “active” companies, to allay the fears that the new norms would result in...
