MENU 
NEW DELHI: CAG of India Girish Chandra Murmu on Friday said auditors should engage with stakeholders to gather input, address concerns, and promote transparency and accountability. Addressing the three-day International Conference on Strengthening of Grassroots Democracy, he also emphasised on the need to prioritise audit procedures based on identified...
NEW DELHI: Gold prices jumped Rs 350 to Rs 63,320 per 10 grams in the national capital on Friday amid strong trends in the global markets, according to HDFC Securities. The precious metal closed at Rs 62,970 per 10 grams in the previous trade. Silver also rallied Rs 400...
MUMBAI: Benchmark equity indices Sensex and Nifty rallied more than one-and-a-half per cent to hit their lifetime highs on Friday helped by impressive GDP data and fresh foreign fund inflows. The 30-share BSE Sensex jumped 1,245.05 points or 1.72 per cent to reach 73,745.35 — its all-time closing peak....
NEW DELHI: Finance Minister Nirmala Sitharaman on Friday said Direct Benefit Transfer of Rs 34 lakh crore has been facilitated by the Public Financial Management System (PFMS) and asked accounts officers to further enhance efficiency and transparency of the system. In a written message to the Controller General of...
NEW DELHI: India’s economy put on an unexpected spurt in the October-December period as it expanded 8.4%, a six-quarter high, vastly outstripping expectations. This is going to make India an even brighter spot in the global economy — gross domestic product (GDP) is now expected to rise 7.6% in...
NEW DELHI: Capital markets regulator Sebi has asked mutual fund houses to put in place a framework to safeguard investors, who invested in smallcap and midcap schemes, amid a “froth building up” in these categories. Also, the regulator has suggested steps such as restrictions on inflows in these segments,...
NEW DELHI: India’s core sector output, which measures production by eight key industries, grew by 3.6 per cent in January, a 15-month low, as per a government data update. A lower growth of 0.7 per cent was recorded in October 2022. The base effect combined with a single digit...
MUMBAI: The Reserve Bank of India (RBI) on Thursday revised the framework for Bharat Bill Payment Systems (BBPS) Directions, enabling non-bank payment aggregators (PAs) to participate in the system as operating units. The banking regulator said entities that are authorised to operate as PAs, including those who have been...
NEW DELHI: India’s post-pandemic robust economic momentum will continue for the fourth year in a row with a likely 7% expansion in the next financial year, Chief Economic Adviser V. Anantha Nageswaran said on Thursday. The growth will be supported by an expected normal monsoon, better rural demand, improved...
NEW DELHI: The Union Cabinet on Thursday approved setting up three semiconductor-making units by firms, including Tata Group and Japan’s Renesas, at an investment of Rs 1.26 lakh crore as part of an attempt to cut India’s dependence on imports to meet requirements of chips. The units which will...
NEW DELHI: The Union Cabinet on Thursday approved the amendment in the MMDR Act to specify the royalty rate on 12 critical and strategic minerals, an official statement said. A decision in this regard was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi,...
NEW DELHI: The government on Thursday approved a rooftop solar scheme, PM-Surya Ghar: Mufti Bijli Yojna, with an outlay of Rs 75,021 crore, to provide up to Rs 78,000 subsidy for the installation of solar plants and 300 units free power for one crore households. Briefing media after the...
NEW DELHI: Foreign direct investment (FDI) inflows in India declined 13 per cent to USD 32.03 billion in April-December 2023, dragged down by lower infusion in computer hardware and software, telecom, auto, and pharma sectors, according to the latest government data. FDI inflows stood at USD 36.74 billion during...
MUMBAI: Lagging deposit accretion poses the risk of constraining credit growth for banks in FY25, India Ratings and Research said on Thursday. Maintaining its “neutral” outlook on the banking sector for FY25, the agency said the deposit growth is likely to moderate to 12-13 per cent in FY25 from...
NEW DELHI: The Indian retail market is expected to almost double its size to reach $2 trillion in the coming decade, stated a report released by the Boston Consulting Group (BCG) and Retailers Association of India (RAI) on Wednesday. The report, titled Unlocking the $2 Tn retail opportunity in...
ABU DHABI: India and South Africa on Wednesday blocked a China-led initiative on investment facilitation at the WTO, in a move that will make it unlikely for the proposed Investment Facilitation Development to be part of the WTO agenda and outcome. Officials said the two nations protested and filed...
MUMBAI: Mukesh Ambani-owned Reliance Industries, Viacom18 Media and The Walt Disney Corporation on Wednesday entered an agreement to form a joint venture that would merge the television and digital streaming businesses of Viacom18 and Star India and create an entertainment giant in India. A joint statement pointed out that...
NEW DELHI: Following the release of the Household Consumption Expenditure Survey (HCES) report after 11 years, the debate on the poverty line estimates has gained ground after the Niti Aayog and the State Bank of India (SBI) claimed a significant decline in the headline poverty rate. While the SBI...