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NEW DELHI: The Rs 1-trillion Research Development and Innovation (RDI) fund, which was announced in the July budget for FY25, of which ₹20,000 crore has already been allocated, will be operationalised in the next two to three months, a top official said. Union Finance Minister Nirmala Sitharaman, on February...
NEW DELHI: The Union Cabinet on Wednesday approved Rs 15,642 crore for providing interest subsidy to farmers on working capital loans for the current financial year. Under the Modified Interest Subvention Scheme (MISS) farmers taking short-term loans of up to Rs 3 lakh through Kisan Credit Cards (KCC) will...
NEW DELHI: India’s growth is projected to be relatively more stable, at 6.2 per cent in FY26 and 6.3 per cent in FY27, while there has been a “tangible downward revision” of 0.6 per cent points and 0.5 per cent points this fiscal and the next in growth prospects...
NEW DELHI: The government’s direct tax exemptions and fiscal measures, along with the rate cuts from the Reserve Bank of India, are expected to further stimulate consumption and investment to lift FY26 growth towards the upper end of forecasts of 6.3% to 6.8%, given in the latest Economic Survey,...
NEW DELHI: Foreign direct investment in India grew 13 per cent at $50 billion during the entire previous financial year, but fell 24.5 per cent year-on-year to $9.34 billion in the January-March quarter of FY25, according to the government data released on Tuesday. FDI inflows during January-March 2023-24 stood...
NEW DELHI: A successful India–US trade deal could mitigate risks to the economy and boost exports, even as private investment remains cautious in the face of global uncertainty, the Finance Ministry said on Tuesday. “This may be no moment for self-congratulation but, equally, it is a moment to remember...
CHENNAI: Moody’s Ratings on Tuesday said India’s car sales are likely to grow at a compound annual growth rate (CAGR) of 3.5 per cent, outpacing China, Japan and other major Asian economies, and reaching around 5.1 million units per year by the end of this decade. “We project a...
NEW DELHI: Co-lending charges levied by non-banking finance companies (NBFCs) will soon be subjected to 18% Goods and Service Tax. The levy may be on 0.5-1% of the loan amount. This follows the NBFCs and banks having agreed to the presence of a service component in such arrangements, ending...
NEW DELHI: The Supreme Court on Monday ordered status quo on the liquidation proceedings of Bhushan Steel and Power Ltd (BPSL) before the National Company Law Tribunal. A bench of Justices B V Nagarathna and Satish Chandra Sharma said liquidation of the BPSL might jeopardise the review petition, which...
MUMBAI: Substantial gains from US dollar sales and interest income from securities prompted the Reserve Bank to announce a record Rs 2.7 lakh crore annual dividend to the Central Government, according to analysts. The Reserve Bank on Friday announced a record Rs 2.69 lakh crore dividend to the Government...
NEW DELHI: The US, despite reporting a $44.4 billion trade deficit with India, runs a $35-40 billion overall surplus when revenues from education, digital services, financial activities, royalties, and arms trade are factored in, economic think tank GTRI said on Monday. It said for India, this means it has...
NEW DELHI: In an effort to transform medium enterprises into global businesses, the NITI Aayog on Monday recommended working capital support of up to ₹25 crore at concessional interest rates, credit card with pre-approved limit of up to ₹5 crore, and a slew of technology as well as skilling...
MUMBAI: With the Reserve Bank of India (RBI) relaxing investment norms for foreign portfolio investors (FPIs) in the corporate bond market recently, experts believe that this will encourage them to participate more aggressively. Earlier, FPIs had to mandatorily sell bonds with less than a year of residual maturity or...
NEW DELHI: The Centre’s interest-free 50-year soft capex loans have yielded good results with states modernising building codes to push industrial growth, and digitisation of land records. These reforms are expected to boost rural economy by reducing litigation and increasing access to credit. The Scheme for Special Assistance to...
NEW DELHI: India has become the fourth largest economy in the world, overtaking Japan, NITI Aayog CEO BVR Subrahmanyam has said. Subrahmanyam said the overall geopolitical and economic environment is favourable to India. “We are the fourth largest economy as I speak. We are a $ 4 trillion economy...
NEW DELHI: While India has offered significant duty concessions on automobile imports from the UK under their recently finalised Free Trade Agreement (FTA), it has strategically retained enough flexibility to safeguard its domestic auto manufacturers—who cater to the bulk of the local market—a senior government official has said. Under...
NEW DELHI: The Supreme Court ruling that companies can include minimum service requirements or job lock-in periods in employment contracts if these conditions are reasonable, fair and protect business interests could significantly influence how employment contracts are drafted and enforced in India, particularly in the public sector, said experts....
MUMBAI: The banking sector’s Q4 FY25 results revealed a nuanced landscape marked by divergent growth trajectories. Net interest income (NII) growth slowed to 3.57%, a significant drop from 10.39% in Q4 FY24. This deceleration was also evident compared to Q3 FY25’s 7.08% growth. Profit growth mirrored this trend, with...