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NEW DELHI: Fiscal prudence is the top priority of the government, but won’t compromise on social welfare, Finance Minister Nirmala Sitharaman said on Tuesday, while seeking the Lok Sabha’s nod for additional spending, including Rs 20,000 crore for the jobs guarantee programme, and Rs 16,300 crore for fertiliser subsidy...
MUMBAI: The Reserve Bank of India (RBI)’s decision to revise the guidelines on connected lending may have been prompted by instances of lenders not complying with rules on loans to companies, experts believe. Bankers said innovative structuring of loans may have resulted in a breach of the regulations. They...
NEW DELHI: Indian economy, dubbed the fastest growing major economy in the world, is faced with the single most important pressure point of job creation, says former RBI Governor Raghuram G Ranjan as he makes a strong case for improvement of human capital through skill development. Talking about the...
NEW DELHI: Government on Monday said that since 99 per cent local mobile phone market is being met through domestic manufacturing now, companies need to export by improving competitiveness and enhancing value addition, for next phase of growth. Government’s focus is now on boosting electronics component manufacturing in the...
NEW DELHI: Shoppers Stop is betting big on its beauty business. The company is accelerating its presence in this segment by expanding its standalone specialty beauty store network, shop-n-shops at its department stores and distribution tie-ups with global luxury brands. The company aims to garner nearly a quarter of...
MUMBAI: Electric vehicle maker Kinetic Green on Monday said it is looking to play big in the electric two and three-wheeler space as it rolled out its all-new e-scooter ZULU in the domestic market. The Made-in-India Fame-II compliant high-speed electric scooter comes at an introductory price starting from Rs...
AHMEDABAD: Union Health Minister Mansukh Mandaviya on Monday said India’s bioeconomy has grown eight-fold in the last eight years to $80 billion, and the country has set a target to reach $600 billion by 2030. The minister was speaking at the pre-Vibrant Gujarat seminar on ‘Biotechnology: The Path of...
MUMBAI: States’ finances improved in FY23, and there is a need to look at asset monetisation to help garner non-tax revenues, a Reserve Bank report said on Monday. In the report on state budgets, which is done annually, the Reserve Bank said road, transport and power sectors hold considerable...
The Indian economy is growing leaps and bounds and despite the global geopolitical challenges, the country remains a bright spot for investors globally. According to recent report by GlobalData, a total of 920 VC funding deals were announced in India during January-October 2023, registering a decline of 38.6 percent...
NEW DELHI: The National Statistical Commission (NSC) is examining the working group report on the roadmap for introducing the Producer Price Index (PPI) in India to replace the Wholesale Price Index (WPI) and their recommendations are awaited, a senior official said Monday. “The working group submitted the report some...
MUMBAI: A move by Reliance General Insurance (RGICL), a subsidiary of Reliance Capital (RCap), to transfer its 25% stake to a Hinduja group company has hit a roadblock following objections raised by the insurance regulator. In October, Hinduja group had sought Insurance Regulatory and Development Authority of India‘s (Irdai’s)...
NEW DELHI: The Reserve Bank of India has urged the Finance Commission to consider recommending “an increased share of conditional transfers” to the state governments, based on reforms, quality of expenditure and fiscal sustainability. This, it said, would help harness healthy competition across the states, and strengthen the fiscal...
NEW DELHI: India has emerged as the leading country in terms of workplace culture, as a significant percentage of Indian workers consider a positive organisational culture as a primary factor for their commitment, according to a report. As per the recent research conducted by SHRM, 64 per cent of...
NEW DELHI: The department of telecommunications (DoT) will soon come out with a set of reforms primarily aimed at simplifying the licensing process, rationalising penalties, and faster grant of spectrum for trial purposes. Sources said that DoT also plans to launch a framework for regulatory sandbox, which will provide...
NEW DELHI: Propelled by a surge in vegetable prices, India’s retail inflation, based on the Consumer Price Index (CPI), likely rose to a three-month high of 5.7% in November from 4.87% in October, according to a poll of 17 economists by FE. In November 2022, the retail inflation was...
NEW DELHI: India has sought to settle a long-standing dispute with the European Union (EU) by offering exclusive import duty concessions for certain information technology products, under the proposed bilateral free trade agreement (FTA) with the 27-country customs-cum-monetary bloc. To address concerns on the information and communication technology (ICT)...
NEW DELHI: To deepen the bond market, Sebi is looking to introduce the concept of ‘fast track’ public issuance for debt securities and further reduce the face value of debt securities, including non-convertible debentures, issued on a private placement basis to Rs 10,000 from Rs 1 lakh at present....
NEW DELHI: Global trends, macroeconomic data, and the outcome of the US Fed policy meeting are the major factors that will drive the movement in the domestic equity markets this week, analysts said. “In the upcoming data-centric week, the focus will be on crucial releases, including inflation data from...