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Indian Economy

Finance Ministry

Parliament Completes Budgetary Exercise For FY24 Amid Din

The nod to Finance Bill included a fresh amendment moved by finance minister Nirmala Sitharaman that sought to correct the rate of STT (securities transaction tax) to be levied on trading of options and futures in the...

27 March 2023

Steel Authority of India Limited (SAIL)

Four SAIL Projects Worth Rs 2,338 Crore Face Delays: Steel Minister

SAIL is also rebuilding coke oven battery -2 (COB-2) along with augmenting coke handling and gas handling facility with an investment of about Rs 434 crore at its Rourkela Steel Plant in Odisha and rebuilding COB-7 & 8 at Rs...

27 March 2023

HDFC Board Clears Raising Rs 57,000 Crore Through Non-Convertible Debentures

The decision was taken since the outstanding borrowings of HDFC as on date is approximately Rs 5.70 lakh crore and it would need to borrow further for its business purposes till the effective date of merger

27 March 2023

 BMW Motorrad

BMW Plans To Launch 19 Car Models In India This Year; Eyes Double-Digit Growth

The company will also keep introducing petrol and diesel cars while expanding its pure battery electric range in the country

27 March 2023

Electric Three-Wheelers Likely To Gain Traction Due To Favourable Operating Economics: Report

Penetration is estimated to rise to 35-40 per cent by FY2030 as the product gains more acceptance and financing-related challenges subside

27 March 2023

Real Estate Sector Gets $32 Billion Equity Capital In 2018-2022; Likely To Garner $12-13 Billion In 2023-24: CBRE

CBRE expects that office assets would continue to garner a majority share of total institutional inflows, followed by Industrial & Logistics (I&L) and sites/land parcels

27 March 2023

Vi Stares At Bleak Future; High Competition To Delay Price Hike By Telecom Companies: Brokerage Report

The brokerage also suspended the rating on Vi, making it clear that given a large debt of over Rs 2.3 lakh crore, which continues to rise, and further potential large dilution in market share, the fundraising would "remain...

27 March 2023

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Finance Minister Nirmala Sitharaman

Finance Minister Moves Amendment To Finance Bill To Correct STT Rate

The amended Bill is likely to be taken up by Lok Sabha either today or tomorrow and thereafter the Budgetary exercise would be complete

27 March 2023

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27 March 2023
Borrowers Have A Right To Be Heard Before Declaration Of Bank Account As Fraud: Supreme Court

Borrowers Have A Right To Be Heard Before Declaration Of Bank Account As Fraud: Supreme Court

In the absence of such a hearing, it is equivalent to "blacklisting" a borrower from availing any credit facilities in the future, the apex court noted. 


27 March 2023
OYO expects more than Rs 5,700 revenue in FY23

OYO expects more than Rs 5,700 revenue in FY23

Agarwal outlined that the key focus areas of OYO in the calendar year 2023 will be on Profit After Tax (PAT) along with consistent momentum in EBITDA; achieve...


27 March 2023
EPFO To Decide Rate Of Interest On Employees' PF Deposits For FY23 By March 28

EPFO To Decide Rate Of Interest On Employees' PF Deposits For FY23 By March 28

The EPFO has provided the facility to opt for higher pension to its subscribers till May 3, 2023


27 March 2023
S&P Keeps India Economic Growth Forecast Unchanged At 6% In FY24

S&P Keeps India Economic Growth Forecast Unchanged At 6% In FY24

GDP is projected to rise to 6.9 per cent in the following two financial years -- 2024-25 and 2025-26 and rising to 7.1 per cent in 2026-27


27 March 2023
RBI To Pause Repo Rate Hike In April, May Continue With “Withdrawal Of Accommodation” Stance: SBI Research

RBI To Pause Repo Rate Hike In April, May Continue With “Withdrawal Of Accommodation” Stance: SBI Research

SBI Research added that RBI can continue with withdrawal of accommodation stance as liquidity is now in deficit mode


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27 March 2023
India's First Quantum Computing-Based Telecom Network Link Now Operational: Ashwini Vaishnaw

India's First Quantum Computing-Based Telecom Network Link Now Operational: Ashwini Vaishnaw

The minister inaugurated a small exhibition of quantum computing firms and invited them to run pilot projects for communications networks and Indian Railways


27 March 2023
SUN Mobility To Power 50,000 Electric Two-Wheelers Of Zomato's Fleet Over Next 2 Years

SUN Mobility To Power 50,000 Electric Two-Wheelers Of Zomato's Fleet Over Next 2 Years

The two companies said their move is aligned with Zomato's commitment to 'The Climate Group's EV100 initiative that implies 100 per cent EV adoption by 2030'...


27 March 2023
Losses Suffered By J-K On Power Purchases Exceed More Than Rs 3,500 Crore Annually: Chief Secretary

Losses Suffered By J-K On Power Purchases Exceed More Than Rs 3,500 Crore Annually: Chief Secretary

The chief secretary said the overall transmission and distribution losses should be brought down to less than 20 per cent in the UT


26 March 2023
Measures Taken By IIFCL To Keep Bad Loans Under Check: Parliamentary Panel

Measures Taken By IIFCL To Keep Bad Loans Under Check: Parliamentary Panel

According to the Committee on Public Undertakings (COPU) submitted recently in Parliament, measures taken will go a long way in improving and strengthening the...


26 March 2023
ISRO LVM3 Completes Oneweb's 618 Satellite Constellation For Global Space-Based Internet

ISRO LVM3 Completes Oneweb's 618 Satellite Constellation For Global Space-Based Internet

The company plans to launch services in India later this year, subject to regulatory approvals and has already acquired the GMPCS (global mobile personal...


26 March 2023
Crompton Greaves Consumer Electricals And Kitchen Appliance Maker Butterfly Announce Merger

Crompton Greaves Consumer Electricals And Kitchen Appliance Maker Butterfly Announce Merger

In February 2022 CGCEL had announced the acquisition of 81 per cent stake in Butterfly for Rs 2,076 crore


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26 March 2023
Akasa Wants To Be Nimble, Efficient Rather Than Have A Label: CEO Vinay Dube

Akasa Wants To Be Nimble, Efficient Rather Than Have A Label: CEO Vinay Dube

Currently, the airline has more than 2,000 employees and the number is expected to cross 3,000 by the end of March 2024


26 March 2023
High-Level Indian Delegation Discusses Energy Cooperation With Sri Lankan President Wickremesinghe

High-Level Indian Delegation Discusses Energy Cooperation With Sri Lankan President Wickremesinghe

In January last year, Sri Lanka formally signed an agreement with India to jointly develop the oil tank farms in Trincomalee


26 March 2023
Only 15% Insolvency Cases Reach Resolution During October-December 2022; Recover 27% Of Claimed Amount

Only 15% Insolvency Cases Reach Resolution During October-December 2022; Recover 27% Of Claimed Amount

On quarter-on-quarter basis, the second quarter of FY23 saw 256 cases in NCLTs (National Company Law Tribunals), massively down from the yearly run-rate of...


26 March 2023
Majority Of Private Companies Do Not Have Adequate Risk Management Function, Says Study

Majority Of Private Companies Do Not Have Adequate Risk Management Function, Says Study

According to the survey titled 'State of Corporate Governance in India, 2023', about 67 per cent of closely held companies and 38 per cent of public companies...


26 March 2023
RBI May Go In For 25 Basis Point Interest Rate Hike In Monetary Policy Meet Next Month, Say Experts

RBI May Go In For 25 Basis Point Interest Rate Hike In Monetary Policy Meet Next Month, Say Experts

The Monetary Policy Committee (MPC) of the Reserve Bank will be meeting for three days on April 3, 5 and 6 to take into account various domestic and global...


26 March 2023
Indian Delegation Calls On Sri Lankan President Wickremesinghe

Indian Delegation Calls On Sri Lankan President Wickremesinghe

Sri Lanka and India run a joint venture storing fuel in the World War II time storage tanks in Trincomalee


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