Business
Food Price Volatility Remains A Contingent Risk: RBI Bulletin
MUMBAI: Household consumption is poised to grow faster in the second quarter of the current financial year as headline inflation eases, but food price volatility remains a contingent risk, according to the August Bulletin of the Reserve Bank of India. Amid global slowdown, domestic drivers in India — private...
India, ASEAN Review Trade Pact At Laos Meet
Top leaders of India and Association of SouthEast Asian Nations (ASEAN) on Friday took stock of the progress in the ongoing review of their nearly one-and-half-decades old goods trade agreement at Vientiane in Laos. “The meeting (India-Asean Economic Ministers Meeting) noted the progress in the Asean-India Trade in Goods...
India’s Home And Household Market To Reach $237 Billion By 2030: Report
The home and household sector is expected to reach around $237 billion by 2030, growing at a CAGR of over 10 per cent, stated Deloitte India’s Powering Consumption Growth: India’s Home and Household market report. The growth, it added, will be fuelled by increasing disposable incomes, shifting consumer preferences...
Loss-Making MNCs Liable To Pay Tax On India Setup
MUMBAI: Multinational companies (MNCs) using various outfits in India or engaging people to promote, operate and grow their businesses from the Indian market will have to pay tax attributable to such setups even if these MNCs report losses in their global balance-sheets. This was laid down by a three-judge...
Consumers Feel It’s Normal To Exaggerate Income On Loan Applications: Survey
MUMBAI: Three out of five consumers surveyed in India believe it is normal for people to exaggerate income on loan applications, according to a report on people’s attitudes toward first-party financial fraud. The survey by global analytics software company FICO stated that more than a quarter (27 per cent)...
600 Million Illness Cases Of Foodborne Diseases Annually Says WHO Chief
NEW DELHI: WHO Director-General Tedros Adhanom Ghebreyesus on Friday highlighted the critical role of food regulators in combating unsafe food, which causes 600 million cases of foodborne diseases and 4,20,000 deaths annually. In a video message to the second Global Food Regulators Summit in Delhi, Ghebreyesus said, “Our food...
NFRA’s Plan To Revise Auditing; Need Time For Consultations: ICAI
NEW DELHI: Chartered accountants’ apex body ICAI on Friday asked regulator NFRA to pause the proposed changes in the auditing standard SA 600 pertaining to group audits, saying the move came as a surprise and sought more time for comprehensive review and discussions with all stakeholders. ICAI and NFRA...
Tata Motors, ESAF Tie Up For Small Finance Bank
NEW DELHI: Tata Motors on Friday said it has tied up with ESAF Small Finance Bank to offer financing solutions to its commercial vehicle customers. The entities have inked a memorandum of understanding focused on small commercial vehicles and light commercial vehicles initially, the Mumbai-based auto major said in...
Sensex Crosses Historic 84,000 Mark
MUMBAI: Benchmark Sensex closed above the historic 84,000-mark for first time while Nifty settled at a new record high on Friday, powered by a rally in frontline bank stocks along with upbeat trends in the US and Asian markets. The 30-share BSE Sensex jumped 1,359.51 points or 1.63 per...
Cabinet Okays ‘One Nation, One Poll’ And Host Of Proposals In Farm To Space
NEW DELHI: Soon after completing 100 days in office, the National Democratic Alliance (NDA) government has taken a series of decisions that would have political and economic implications for the country. The Union Cabinet on Wednesday cleared proposals in areas ranging from agriculture to moon and venus with a...
India’s Economic Growth Stands Out Globally, Says FM Nirmala Sitharaman
NEW DELHI: Finance Minister Nirmala Sitharaman on Wednesday said India is standing out globally in terms of economic growth and will continue to do so in the next few years. “We are much better off than many other countries; even advanced countries are struggling to grow. We are standing...
Indian Pharma Sector Set For 8-10% Growth This Fiscal: Crisil Ratings
MUMBAI: The Indian pharmaceutical sector is expected to see revenue growth of 8-10 per cent this financial year, driven by strong exports to regulated markets such as the US and Europe, a recovery in semi-regulated markets including Africa and Asia, and consistent domestic demand, according to a report by...
TRAI Moots Single Authorisation For All Telecom Services
NEW DELHI: The Telecom Regulatory Authority of India (Trai) has also suggested one authorisation for satellite telecommunication, merging the VSAT and Global Mobile Personal Communications by Satellite (GMPCS) licences. As per the proposal, a unified authorisation will enable an entity to offer all kinds of telecom services including mobile,...
Banks’ CASA Ratio May Fall Further As Companies, Govt Cash Management Skills Improve: SBI Chairman
MUMBAI: The enhanced cash management efficiency of government and corporates could lead to a further moderation in banks’ low-cost current account and savings account (CASA) ratio, State Bank of India (SBI) Chairman, C.S. Setty, said. “The pre Covid-19 level of CASA ratio was 40 per cent, whereas it rose...
India Set To Kick Off Its First Offshore Mineral Auction: Mines Secretary
NEW DELHI: India is set to kick off its first-ever offshore minerals auction shortly, with 10 blocks up for grabs, Mines Secretary VL Kantha Rao said on Wednesday. “We are ready with 10 blocks on both the east and west coasts of India. These blocks will include sand, lime...
ArcelorMittal Nippon Steel India Invests Rs 1000 Crore For New Production Line In Gujarat
KOLKATA: ArcelorMittal Nippon Steel India has invested nearly Rs 1,000 crore in its Gujarat plant to set up a production line for Magnelis, a global product from ArcelorMittal’s stable, as the firm moves to capture over 50 per cent domestic market share for steel supplies to solar projects. Apart...
Steel Ministry Mulls Taking Up Financing Options For Decarbonisation Projects
NEW DELHI: The Steel Ministry could consider taking up financing options to carry out or support decarbonisation projects in the sector. The schemes will likely be funded through PLI (performance-linked incentives) and discussions on this are underway, Steel Minister HD Kumaraswamy told businessline. While discussions on such schemes or...
Cabinet Clears Chandrayaan-4, Venus Orbiter Mission For Space Exploration
CHENNAI: The Union Cabinet on Wednesday cleared the new moon mission Chandrayaan-4 and approved the development of the Venus Orbiter Mission (VOM) as part of the government’s vision to explore and study the Earth’s closest planet. The Chandrayaan-4 will develop and demonstrate the technologies to come back to Earth...
