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NEW DELHI: Central public-sector entities – companies and undertakings (CPSEs) – achieved 92% of their combined capital expenditure target for FY24 in April-February by spending Rs 6.8 trillion, maintaining their acceleration in capex in the current financial year. On an annual basis, these entities’ capex grew by 21% on...
NEW DELHI: The Food Corporation of India (FCI) may raise around Rs 15,000 crore through short term loans in the current fiscal to bridge the gap between food subsidy allocated and actual expenses in handling and distribution of grains under free ration scheme. Sources told FE that as a...
NEW DELHI: The services sector growth in India moderated in February amid softer expansions in business activity, sales and jobs, a monthly survey said on Tuesday. The seasonally adjusted HSBC India Services Business Activity Index registered 60.6 in February, down from 61.8 in January. In Purchasing Managers’ Index (PMI)...
NEW DELHI: The heavy industries ministry is examining requests seeking reduction in GST on flexible fuel vehicles (FFVs) from the current 28 per cent, sources said. The ministry is in consultation with various stakeholders and other government departments. Once the consultations are completed, the ministry will submit a recommendation...
MUMBAI: Reserve Bank has directed banks to provide their eligible customers with an option to choose from multiple card networks at the time of issuing credit or debit cards, a move which will benefit card users. The central bank also asked issuers of credit cards not to enter into...
NEW DELHI: Unemployment rate for persons aged 15 years or above declined to 3.1 per cent in 2023, the lowest in the last three years, as per a report of National Sample Survey Organisation under the Statistics Ministry. According to Periodic Labour Force Survey (PLFS) for calender year 2023,...
NEW DELHI: Investors are returning to housing market, with 36 per cent of respondents looking to buy homes from an investment perspective, according to FICCI-Anarock survey released on Tuesday. At a real estate event here, FICCI-Anarock Consumer Sentiment Survey (H2 2023) was released which suggested that prospective homebuyers are...
MUMBAI: The proposed policy related to animation, visual effects, gaming and comics (AVGC), once implemented, will facilitate investments, foster innovation and contribute to building world-class infrastructure in the country, Secretary in the Ministry of Information and Broadcasting Sanjay Jaju said on Tuesday. Speaking at 24th edition of the media...
NEW DELHI: Banking on policy continuity after the Lok Sabha polls and focus on infrastructure development, global credit rating agency Moody’s Investors Service on Monday revised its 2024 growth forecast for the Indian economy to 6.8 per cent, from the 6.1 per cent projection in November last year. In...
MUMBAI: Liquidity deficit in the banking system has fallen to its lowest level in three months, bringing down cost of borrowing in money markets, as the government has stepped up expenditure after months of maintaining elevated cash balances. Numerous rounds of variable rate repos by the Reserve Bank of...
NEW DELHI: To enable farmers to access pledge finance against the harvested commodities, the government on Monday launched an online digital gateway e-Upaja Kisaan Nidhu which would allow storage of agricultural produce with the Warehousing Development and Regulatory Authority (WDRA) and obtain post-harvest loans from the banks. Food minister...
NEW DELHI: India’s unemployment rate dropped to 3.1 per cent in 2023 from 3.6 per cent in the preceding year, reflecting continued improvement in the labour markets, revealed the latest employment-unemployment indicators report released by the National Statistical Office (NSO) on Monday. During the calendar year 2023 (CY23), the...
NEW DELHI: The proposed free trade agreement between India and the European Free Trade Association (EFTA) countries, with a commitment of $100-billion investments from the four-country bloc into India over the next 15 years generating an estimated 1 million jobs, may be formalised soon as the pact “is ready”...
NEW DELHI: High-frequency data for February released on Friday showed India’s economy continues to cruise after posting a better-than-expected 8.4% expansion in the December quarter. Goods and services tax (GST) collection surged 12.5% to ₹1.68 lakh crore, auto firms posted their highest monthly sales and manufacturing activity hit a...
NEW DELHI: The stronger-than-expected real GDP growth print for the third quarter ended December may prompt the Reserve Bank of India (RBI) to continue the status quo on policy rate for a longer time than what was being projected earlier. A gross domestic product (GDP) growth of 8.4% in...
NEW DELHI: Highlighting continued hectic activity in the Indian economy, gross goods and services tax (GST) collection grew 12.54 per cent year-on-year to Rs 1.68 trillion in February. Positive consumer sentiment was also palpable through the monthly sales figures for cars and two-wheelers as both segments witnessed an annual...
NEW DELHI: The manufacturing sector gathered momentum in February on the back of expansion in new export orders and easing of pricing pressures as the headline Purchasing Managers Index (PMI) climbed to a five-month high. It touched 56.9 during the month from 56.5 in January, the survey released by...
MUMBAI: Keeping up with the pace of rapid changes in the fintech sector, the Reserve Bank of India (RBI) has stepped up its interaction with the fintech companies. The banking regulator has held over 200 meetings with the fintech companies and industry representatives in the past six months. “The...