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India’s economic growth can become faster if the much-awaited private capital formation kicks into higher gear, Chief Economic Advisor V Anantha Nageswaran said on Friday.Nageswaran said that post-COVID financial balance sheets of corporates have been positive.”For economic growth we need to have investment spending … India economic growth can...
The central bank’s decision to keep the repo rate unchanged at its bi-monthly meeting on Friday may encourage potential buyers of homes, cars and durable products to take the sales plunge, executives at top companies said. “Today’s RBI monetary policy announcement is a good boost to industry confidence. The...
NEW DELHI: Markets need to evolve more mechanisms to reward the States that are managing their fiscal responsibilities prudently, N K Singh, Chairman, 15th Finance Commission, and President, Institute of Economic Growth, said. Today, the markets don’t really differentiate on the cost of borrowing between a profligate State and...
NEW DELHI: The Ministry of Defence on Friday signed a contract worth Rs 588.68 crore with state-owned Telecommunications Consultants India Limited (TCIL) for a digital project of the Indian Coast Guard (ICG), which would enable centralised monitoring and management of deployed applications and assets. The “Digital Coast Guard (DCG)“...
NEW DELHI: Fair trade watchdog CCI is conducting a market study to assess the impact of artificial intelligence on the competition landscape, the regulator’s chief Ravneet Kaur said on Friday. In recent times, there has been an increasing use of artificial intelligence (AI) applications in several sectors. “We are...
MUMBAI: The Reserve Bank of India (RBI) Friday held interest rates and its monetary policy stance for the fifth consecutive review meeting on moderating price pressures, but signaled that rates will remain elevated to ensure consumer inflation retreats toward the central bank’s legally mandated target. It also bumped up...
NEW DELHI: The Centre is working to institutionalise global cultural initiatives and develop a modern system on the lines of similar events in Venice, London and Sao Paulo, Prime Minister Narendra Modi said on Friday while inaugurating the inaugural edition of the Indian Art, Architecture and Design Biennale from...
MUMBAI: In a move to enhance security, integrity and privacy of financial sector data and bring transparency on fintechs in the country, the Reserve Bank of India (RBI) is set to establish a cloud facility and a repository for capturing information on fintech firms. The Indian Financial Technology and...
NEW DELHI: To curb retail food prices, the government has announced a host of measures including ban on export of onion till the end of current fiscal, duty-free import of yellow peas, additional limits on stocking of wheat and allocation of additional quantities of the grain under the open...
NEW DELHI: Capital markets regulator Sebi is looking to create a new asset class — which lies between mutual funds and portfolio management services (PMS) — and the new product can cater to high-risk investors, its chief Madhabi Puri Buch said on Friday. The Sebi chief said that there...
MUMBAI: The Reserve Bank of India on Friday decided to keep the policy rate unchanged at 6.5 per cent for the fifth time in a row as it maintains a tight vigil on inflation. The rate increase cycle was paused in April after six consecutive rate hikes, aggregating to...
NEW DELHI: India has the potential to grow at 8 per cent as the country is labour-rich with enough institutional maturity of a functioning democracy, Niti Aayog vice chairman Suman Bery said on Thursday. Bery also cautioned that North India has not been doing well traditionally compared to South...
NEW DELHI: The government has banned exports of onion till March next year with a view to increase domestic availability and to keep prices in check. “Export policy of onions… Is amended from free to prohibited till March 31, 2024,” the Directorate General of Foreign Trade (DGFT) said in...
NEW DELHI: Finance Minister Nirmala Sitharaman on Thursday ruled out any “spectacular announcement” for her sixth budget on February 1 next year, saying it would just be a vote on account before the general elections. A full Budget for the 2024-25 fiscal would be presented in July next year...
NEW DELHI: Hiring activity for white-collar jobs witnessed a 12 per cent on-year decline during October-November largely due to fall in recruitment trends in IT-Software, telecom and education sectors, a report said on Thursday. White-collar recruitment during October-November declined by 12 per cent with 2,433 job postings, compared to...
NEW DELHI: India continues to be the fastest-growing major economy, with all sectors contributing significantly, finance minister Nirmala Sitharaman said Thursday. She flagged India’s manufacturing growth, citing India’s mobile phone and passenger vehicle exports. “The second-quarter growth was very high — it is the highest in the world,” Sitharaman...
NEW DELHI: Amid lingering concerns that the much-delayed private capex cycle may not have taken root yet, Corporate India on Thursday said with capacity utilisation in many sectors being 75-80% if not higher, a strong momentum in private investments was firmly around the corner. Pointing out that fresh investments...
NEW DELHI: A series of steps are being taken by the government to curb retail food inflation. The Union food ministry on Thursday directed all sugar mills and distilleries to stop using sugarcane juice for the production of ethanol for the 2023-24 season, to ensure an adequate supply of...