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As the Indian contingent is gearing up for participating in the 2024 Olympics in Paris next month, companies that have been supporting the athletes would be keenly following their performances. The foundations of several companies, such as the Reliance Group, Tata Steel, JSW, Hindustan Zinc and SKF India, have...
MUMBAI: With the geopolitical scenario changing, crude oil prices could go up again. Brent crude oil price is already up by about 10 per cent since the first week of June to around $85 per barrel now. Joel Hanley, global director, crude & fuel oil markets, S&P Global Commodity...
NEW DELHI: The role of gas-based power generation, which currently accounts for around 2 per cent of India’s power generation, may become limited to just providing grid flexibility by FY30, a study by the Institute for Energy Economics and Financial Analysis (IEEFA) has projected. The IEEFA in its global...
New Delhi: India’s energy future is set to remain heavily reliant on coal, even as the country navigates challenges and opportunities in the realms of oil, LNG, and renewable energy. According to a comprehensive outlook by S&P Global Commodity Insights (GCI), India’s strategic priorities in energy security, affordability, and...
MUMBAI: JSW Steel USA, a subsidiary of JSW Steel, plans to invest $110 million to modernise its steel plate mill in Baytown, Texas. The investments, announced at the 10th SelectUSA Investment Summit hosted by the US department of commerce in National Harbor, Maryland, will enable the firm to produce...
Private aerospace and defence companies are expected to post a revenue growth of 20 per cent to reach approximately Rs 13,500 crore this fiscal, said a report by CRISIL Ratings. This, it added, will be propelled by higher government spending and concerted efforts to encourage private participation. The operating...
SHIMLA: The 16th Finance Commission would address the issues pertaining to the distribution of freebies and compensation for providing green cover, Chairman Arvind Panagariya said on Monday. Speaking with reporters here after deliberations with the Himachal Pradesh government, Panagariya said that expectations and needs of the state have been...
NEW DELHI: The S&P Global Ratings on Monday retained its growth forecast for India at 6.8 per cent for FY25, citing high interest rates and lower fiscal boost tempering demand in the non-agricultural sectors. “India’s economic growth continues to surprise on the upside. GDP growth for fiscal 2024 was...
MUMBAI: As the Indian equity market surges to unprecedented highs, market players see a great opportunity for the government to divest stake in public sector undertakings (PSUs) to meet its ambitious fiscal targets. In the interim budget, the government set a goal of raising Rs 50,000 crore through divestment,...
MUMBAI: The Reserve Bank of India has recently carried out special audits with banks to check whether they are holding the appropriate securities to qualify for liquidity coverage ratio, a move that comes at a time when the central bank has expressed concern over sudden deposit outflows that can...
NEW DELHI: In a move to check wheat price rise and hoarding, the Centre on Monday imposed stock holding limits on traders, wholesalers, retailers and processors with immediate effect. The restrictions will remain in force until March 31, 2025, across all states and Union Territories. Single retailers, big-chain retailers,...
MUMBAI: India recorded a current account surplus of USD 5.7 billion or 0.6 per cent of GDP in the March quarter, the Reserve Bank of India said on Monday. In the year-ago period, the current account deficit stood at USD 1.3 billion or 0.2 per cent of GDP, and...
NOIDA: The Noida International Airport is expected to launch its flight service by April 2025, missing its September 2024 deadline due to construction delays. Recently there were reports of delay in construction works at the greenfield airport coming up in the Jewar area of Uttar Pradesh’s Gautam Buddh Nagar...
NEW DELHI: With retail inflation nearing the RBI’s target of 4 per cent, the monetary policy needs to shift focus on promoting growth, RBI MPC member Jayanth R Varma said on Monday. Varma further said CPI inflation in 2024-25 is projected to be only about 0.5 percentage point above...
NEW DELHI: Industry body India Energy Storage (IESA) has demanded that the government reduce the goods and services tax (GST) on batteries and electric vehicles charging infrastructure services as well battery swapping. Ahead of the India Energy Storage Week 2024 (IESW) in New Delhi from July 1-5, 2024, the...
MUMBAI: Passenger vehicle sales is projected to grow at a moderate 3-5 per cent this financial year on account of a high-base effect of FY24, shrinking order book and subdued demand for entry-level variants, a report said on Monday. According to the report by credit ratings agency CareEdge, following...
MUMBAI: The Goods and Services Tax (GST) Council’s decision to not levy tax on co-insurance premium and reinsurance commission retrospectively will be a consolation for general insurance companies, experts said. The 53rd GST Council headed by Finance Minister Nirmala Sitharaman on Saturday announced that no tax will be levied...
NEW DELHI: The finance ministry is assessing the possibility of raising the standard deduction limit for income taxpayers under the new regime, without tinkering with the exemption-laced older regime. Besides, as the NDA govt readies to present its first Budget of its third term, it is unlikely to undertake...