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NEW DELHI: Proactive inflation management has helped keep the country’s inflation within the manageable range, Finance Minister Nirmala Sitharaman said while presenting the interim Budget on Thursday. She also said that the inflation has moderated. The Reserve Bank of India has been mandated by the government to ensure retail...
NEW DELHI: The Indian economy has witnessed a profound positive transformation in the last 10 years, Finance Minister Nirmala Sitharaman said on Thursday. Sitharaman in her pre-election Budget, which is technically a vote on account and popularly termed an interim Budget, said the people of India are looking ahead...
NEW DELHI: Finance Minister Nirmala Sitharaman on Thursday proposed tax benefits for start-ups and pension funds. The government has taken measures to promote start-ups in the country. As many as 1.17 lakh start-ups are recognised by the government so far. Under the Startup India Action Plan unveiled on January...
NEW DELHI: Finance Minister Nirmala Sitharaman on Thursday said there are no changes in tax rates for direct and indirect taxes, including import duties. She also said the number of tax filers has swollen 2.4 times and the direct tax collection has trebled since 2014. The processing time of...
MUMBAI: The Reserve Bank of India (RBI) on Wednesday barred Paytm Payments Bank from accepting fresh deposits and carrying out transactions from February 29 this year, citing “persistent non-compliance” and “material supervisory concerns”. In March 2022, the regulator barred Paytm Payments Bank from taking in new customers. The company,...
NEW DELHI: India’s core sector grew at its slowest pace in 14-months in December at 3.8% from 7.9% in the previous month due to base normalisation and slowing activity in crude oil production and electricity generation, official data released Wednesday showed. The eight core industries that account for 40%...
NEW DELHI: Ahead of the Interim Budget for FY25, the fiscal deficit touched 55 per cent (Rs 9.8 trillion) of the full-year target for the April-December period of FY24, data by the Controller General of Accounts (CGA) on Wednesday showed. The fiscal deficit was marginally lower at Rs 9.9...
MUMBAI: The current account savings account (CASA) deposit ratio of private sector banks declined more than that of public sector banks (PSBs) in the past year due to a stronger demand for credit and an increased preference for term deposits. According to data from CareEdge Ratings, the share of...
NEW DELHI: The International Monetary Fund (IMF) on Tuesday raised India’s growth forecast for FY25 to 6.5%, from 6.3% projected earlier, saying domestic demand resilience will help carry forward growth momentum, while lifting its global economic outlook as well. “Growth in India is projected to remain strong at 6.5%...
NEW DELHI: Anil Kumar Lahoti, the new chairman of the Telecom Regulatory Authority of India (Trai), is known for his focus on efficiency. It is a strength that may help sort a long list of issues pending before the regulator, ranging from satellite spectrum, direct to mobile technology (D2M),...
NEW DELHI: Companies are bracing for further litigation, questioning the methodology used by the National Anti-Profiteering Authority (NAA), while arguing that the agency did not look at the overall costs before seeking a price cut in cases where GST or the total indirect tax was lowered. On Monday, the...
MUMBAI: Listed private sector banks reported a 23.8 per cent year-on-year (YoY) growth in net profit at Rs 43,543 crore in the third quarter of Financial Year 2023-24 (Q3 FY24) on, gaining from high credit offtake and fall in costs. Sequentially, however, profits sharply moderated with just 1.8 per...
CHENNAI: After India created history through Chandrayaan-3’s soft landing on the moon last year, the booming private sector space industry in the country is pinning hopes on this year’s interim Budget. The sector is upbeat that the Centre will open up foreign direct investment (FDI), introduce a production-linked incentive...
NEW DELHI: Former Railway Board Chief Anil Kumar Lahoti has been appointed as the chairman of the Telecom Regulatory Authority of India (TRAI). The top position at TRAI fell vacant after the tenure of former chairman PD Vaghela ended about four months back. “The Appointments Committee of the Cabinet...
NEW DELHI: India has sought investment commitments from Switzerland under the proposed free trade agreement with the four-nation EFTA bloc, a top government official said on Tuesday. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. The official also said negotiations for the pact are...
NEW DELHI: Leading furniture retailer Ikea has introduced doorstep delivery facility in 62 new markets in India, and the company expects online demand to go up in the coming years, the company’s India CEO Susanne Pulverer said. At present, Ikea India gets around 25 per cent of its sales...
NEW DELHI: State-owned Bharat Petroleum Corp Ltd has set it capital expenditure target for 2024-25 at Rs 15,000 crore, the company said on Tuesday. Further, it also aims to expand its market networks with new pipelines underway. “Augmenting strong marketing networks, we have approved two pipeline projects from Mumbai...
Steel makers expect continued focus on the infrastructure spending, push to domestic manufacturing, and measures to check rising imports in the upcoming interim Budget. In the 2023-24 Budget, Union Finance Minister Nirmala Sitharaman announced a capex of Rs 10 lakh crore for infrastructure development. “The government should continue the...