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NEW DELHI: With buoyant revenues likely ensuring that the 5.9% fiscal deficit target is met in the current financial year, the Centre may target to bring it t down to 5.2% in FY25, while sticking with the medium-term glide path for 4.5% deficit by FY26. However, this would entail...
NEW DELHI: In the free-trade negotiations that India is involved in, it may end up giving up more than what it can gain, trade policy think tank said on Tuesday citing a recent study. Even in labour-intensive sectors where New Delhi is seeking parity with competitors from the developing...
NEW DELHI: From Hindustan Unilever to ICICI Bank, HDFC Bank and Eicher Motors, almost all the big names of India Inc and thousands, if not lakhs, of smaller GST taxpayers have received tax demand on the eve of new year as authorities sought to meet the five-year deadline to...
NEW DELHI: Prime Minister Narendra Modi laid the foundation stone of important petroleum and natural gas projects worth more than Rs 9,000 crore on Tuesday. The two projects dedicated to the nation include Indian Oil Corporation Ltd’s (IOCL) 488-km-long natural gas pipeline from IP101 (Chengalpet) to IP 105 (Sayalkudi)...
NEW DELHI: India’s Mines Ministry has upped the ante as it eyes securing supplies for critical minerals specially lithium and cobalt, among others. Beyond getting into global alliances and participating across select projects; discussions are currently underway with Lat-Am nations, like Argentina, Chile and Bolivia (also called global Lithium...
NEW DELHI: The government has relaxed curbs for shifting of used IT hardware goods like laptops and desktops by a company in special economic zones (SEZs) to outside these duty free-enclaves or domestic tariff areas. SEZs are treated as deemed foreign territory for customs laws and bringing goods from...
NEW DELHI: Ministries of mines, steel and the department for promotion of industry and internal trade (DPIIT) will set up an internal mechanism to monitor the export of steel and aluminium products at concessional duties to the US, an official said. Indian exports of these products were earlier attracting...
NEW DELHI: The airports at Hyderabad and Bengaluru have been ranked second and third among the top ten global airports in terms of operational performance and punctuality, according to a report released on Tuesday. In the 2023 On-Time Performance (OTP) Review prepared by aviation analytics firm Cirium, there are...
ISLAMABAD: Cash-strapped Pakistan is expected to get USD 700 million as the next tranche of the bailout from the IMF as the Executive Board of the global lender meets on January 11, according to a media report on Tuesday. The board of the Washington-based International Monetary Fund is set...
NEW DELHI: India’s electronics manufacturing sector is set to grow 15 per cent to be worth USD 115 billion in 2024, with players continuing to focus more on higher levels of value addition in terms of components and development of products. The production of mobile phones, the poster boy...
Coal India Ltd (CIL) has lined up massive plans to ramp up its mining capacity, while also roping in the private players in a big way as mine development operators (MDOs). The state-run miner, which reported elevated capex consistently over the last several years, will keep the pace in...
Disbursements by power-focused infrastructure companies are expected to surpass Rs 2.9 trillion in 2023-24 (April-March), aided by substantial capital expenditure in the power sector and improving balance sheets, CareEdge Ratings said in a report. Disbursements were at Rs 2 trillion in 2022-23. This growth in disbursements is likely to...
NEW DELHI: The country’s power consumption dipped 2.3 per cent to 119.07 Billion Units (BU) in December, marking its first monthly decline in eight months due to lower demand for heating equipment, especially in the north, on account of mild winter, according to government data. Earlier in April 2023,...
NEW DELHI: India’s top oil and gas producer ONGC is seeking global technology partners to cut gas flaring and achieve zero methane emission by 2030 as part of its ambitious decarbonisation plan, its chairman Arun Kumar Singh said on Monday. Oil and Natural Gas Corporation (ONGC) has substantially cut...
NEW DELHI: The share of the private sector in new investment projects rose amid a slowing pace of government investments in the December quarter. But the value of new investment projects declined sharply by 78% on year to Rupees 2.1 trillion. The Centre front-loaded its budget capex in the...
NEW DELHI: In order to give a push to the economy, the government has relaxed norms governing public expenditure exceeding Rs 500 crore during the fourth quarter (January-March) of the current financial year. Instructions to this effect were issued by the finance ministry through an office memorandum last week....
NEW DELHI: The Centre’s dividend receipts from the Central Public Sector Enterprises (CPSEs) stood at Rs 43,843 crore as of January 1, crossing the 2023-24 budget estimate (BE) of Rs 43,000 crore, giving further comfort on the fiscal front. The dividend receipts of Rs 39,086 crore so far in...
NEW DELHI: The plans to increase buoyancy in tax collections, widening the tax base and increasing the compliance by taxpayers seem to have been aided by the new income tax (IT) regime in the current financial year. However, experts feel a few more tweaks in the tax rates in...