News

Centre releases Rs 448 crore as grant for rural local bodies in Karnataka The Union government has released Rs 448.29 crore for the rural local bodies in Karnataka as the first instalment of the 15th Finance Commission grant to the state during the Financial Year 2024-25, according to an official statement issued on Friday.  These funds are for all eligible 5,949 Gram Panchayats of the state, the statement mentioned. The Government of India through the Ministry of Panchayati Raj and Ministry of Jal Shakti (Department of Drinking Water and Sanitation) rec...
Centre releases Rs 448 crore as grant for rural local bodies in Karnataka
Centre releases Rs 448 crore as grant for rural local bodies in Karnataka
Source: IANS
2024-11-22 03:57:14 pm
Centre launches portal for nurturing skill development in underprivileged kids The Centre on Thursday inaugurated the ‘Viksit Bharat Initiative for Student Innovation and Outreach Network’ (VISION) portal to nurture education, skill development, and innovation among underprivileged children in India.  Reaching out to underprivileged youngsters helps democratise startup skills, said Union Minister of State (Independent Charge) Science and Technology Dr. Jitendra Singh, while launching the portal, in the national Capital on Thursday. Dr. Jitendra Si...
Centre launches portal for nurturing skill development in underprivileged kids
Centre launches portal for nurturing skill development in underprivileged kids
Source: IANS
2024-11-21 06:30:16 pm
Piyush Goyal urges industry to utilise Rs 1 lakh crore ANRF fund for fostering innovation Union Commerce and Industry Minister Piyush Goyal on Thursday urged the industry to utilise Rs 1 lakh crore Anusandhan National Research Foundation (ANRF) fund to foster innovation and create a research-based ecosystem in the country.   The talented youth should also be tuned to the mindset of experimenting and developing new ideas under this government initiative, Goyal said during his keynote address at the Federation of Indian Chambers of Commerce and Industry’s (FICCI) event...
Piyush Goyal urges industry to utilise Rs 1 lakh crore ANRF fund for fostering innovation
Piyush Goyal urges industry to utilise Rs 1 lakh crore ANRF fund for fostering innovation
Source: IANS
2024-11-21 04:29:10 pm
CM Siddaramaiah urges FM Nirmala Sitharaman to rectify reduced loan amount by NABARD to Karnataka  Karnataka Chief Minister Siddaramaiah met Union Minister for Finance, Nirmala Sitharaman on Thursday at her office in New Delhi and submitted a memorandum seeking to correct the lower allocation of short-term loans to the state by NABARD.  Chief Minister Siddaramaiah stated that Karnataka is making a lower allocation of ‘Short Term Agricultural Credit Limit (ST-SAO)’ at concessional rate of interest by the National Bank For Agriculture and Rural Development (NABARD) ...
CM Siddaramaiah urges FM Nirmala Sitharaman to rectify reduced loan amount by NABARD to Karnataka
CM Siddaramaiah urges FM Nirmala Sitharaman to rectify reduced loan amount by NABARD to Karnataka
Source: IANS
2024-11-21 04:19:47 pm
India`s export outlook brighter as manufactured goods gain share: RBI The outlook for India’s exports is brightening as underneath the subdued growth profile of the past few months, the country has been gaining a share in global trade of key manufacturing items, according to the RBI bulletin for November.  “In fact, India currently holds 13 per cent or a sixth of the global market share in petroleum products, attesting to rising refining capabilities and ability to meet international standards,” the report states. It is the largest ...
India`s export outlook brighter as manufactured goods gain share: RBI
India`s export outlook brighter as manufactured goods gain share: RBI
Source: IANS
2024-11-21 02:31:08 pm
Private consumption driving growth in Q3 with rural India taking lead: RBI  The slack in speed observed in the Indian economy during the second quarter of 2024-25 is behind us as private consumption is back to being the driver of domestic demand with festival spending lighting up real activity in Q3, according to the RBI’s monthly bulletin for November.   The report points out that rural India is emerging as a gold mine for e-commerce companies in this festival season; this is expected to gather further momentum with the sharp increase in kharif o...
Private consumption driving growth in Q3 with rural India taking lead: RBI
Private consumption driving growth in Q3 with rural India taking lead: RBI
Source: IANS
2024-11-21 02:23:43 pm
India Strategy : Maha Yuti in Maharashtra; Picture is less clear in Jharkhand by JM Financial Services Ltd Exit polls suggest a majority for the Maha Yuti alliance in Maharashtra with 150 seats. The picture is less clear in Jharkhand with the NDA at 39 seats and short of the majority by 2 seats. Results are expected on Nov’23, 2024. * Exit polls suggest Maha Yuti has the majority in Maharashtra - Exit polls (based on the average of 9 polling agencies) after the single phase election in Maharashtra suggest a majority for the incumbent Maha Yuti with a majority of 150 seats. Maha Vikas Agha...
India Strategy : Maha Yuti in Maharashtra; Picture is less clear in Jharkhand by JM Financial Services Ltd
India Strategy : Maha Yuti in Maharashtra; Picture is less clear in Jharkhand by JM Financial Services Ltd
Source: JM Financial Services Ltd
2024-11-21 01:50:37 pm
Private consumption back driven by festive spending: RBI article The Reserve Bank of India’s (RBI) article on 'State of the Economy' published in the November Bulletin has said that private consumption is back driven by festive spending, and the medium-term economic outlook remains bullish as the innate strength of the macro-fundamentals reasserts itself. It said global economic activity remained resilient during Q4:2024 amidst fragile confidence and rising protectionism. It said ‘in India, the slack in speed observed in the second quar...
Private consumption back driven by festive spending: RBI article
Private consumption back driven by festive spending: RBI article
Source: Accord Fintech
2024-11-21 12:19:43 pm
Outbound shipments of services sectors likely to overtake merchandise exports by 2030: GTRI The Global Trade Research Initiative (GTRI) has said that India is set for a major change in its export trends, with outbound shipments of the services sectors expected to overtake merchandise exports by 2030 and touch $618 billion. It said between 2018-19 and 2023-24, the country's merchandise exports grew at a compound annual growth rate (CAGR) of 5.8 per cent, while services exports surged ahead at a robust CAGR of 10.5 per cent. GTRI said at this rate, by FY2030, services exports a...
Outbound shipments of services sectors likely to overtake merchandise exports by 2030: GTRI
Outbound shipments of services sectors likely to overtake merchandise exports by 2030: GTRI
Source: Accord Fintech
2024-11-21 11:29:10 am
India`s economic activity growth reaches 8-month high in October The growth in economic activity in India improved markedly to an eight-month high of 10.1 per cent in October from 6.6 per cent in September, despite an unfavourable base, according to a report on Thursday.  The strengthening in growth momentum was led by the favourable impact of the departure of monsoon on sectors like mining and electricity, healthy demand during the festive season that boosted vehicle registrations, fuel consumption, air travel and the surge in exports, said the re...
India`s economic activity growth reaches 8-month high in October
India`s economic activity growth reaches 8-month high in October
Source: IANS
2024-11-21 11:25:26 am
India`s real GDP growth for September quarter likely to decline to 6.5%: ICRA Domestic rating agency Icra has said India's real GDP growth for the September quarter is likely to decline to 6.5 per cent due to heavy rains and weaker corporate performance. However, the agency maintained its FY25 growth estimate at 7 per cent on expectations of a pick up in economic activity in the second half of the fiscal. The estimates and commentary on the outlook come at a time when there are concerns around the growth slowdown on a slew of factors like slowing down urban demand....
India`s real GDP growth for September quarter likely to decline to 6.5%: ICRA
India`s real GDP growth for September quarter likely to decline to 6.5%: ICRA
Source: Accord Fintech
2024-11-21 10:25:02 am
EPFO adds 18.8 lakh members in September as employment rises The Employees' Provident Fund Organisation (EPFO) has registered a net addition of 18.81 lakh members during September this year which represents a 9.33 per cent growth compared to the same month last year, reflecting increased employment opportunities and heightened awareness of employee benefits, bolstered by EPFO’s effective outreach initiatives, the Ministry of Labour and Employment said on Wednesday.   The data shows a sharp increase in the number of youngsters, who hav...
EPFO adds 18.8 lakh members in September as employment rises
EPFO adds 18.8 lakh members in September as employment rises
Source: IANS
2024-11-21 09:21:58 am
Centre urges southern states to fast-track schemes to boost farm sector The Centre has urged the southern states to expedite the execution of Centrally Sponsored Schemes by ensuring timely fund allocation and addressing issues related to state contributions and Single Nodal Account (SNA) balances, an official statement said on Wednesday.  The issues were discussed as part of the Centre’s mid-term review, held in Visakhapatnam on November 18-19, of the implementation of agricultural schemes by the states. The Union Agriculture Secretary led the te...
Centre urges southern states to fast-track schemes to boost farm sector
Centre urges southern states to fast-track schemes to boost farm sector
Source: IANS
2024-11-21 09:07:37 am
All 20.4 crore household ration cards digitised to ensure poor get foodgrains: Centre The ration cards of all the 20.4 crore households covering 80.6 crore beneficiaries under the National Food Security Act have been digitised with 99.8 per cent of the ration cards and 98.7 per cent of individual beneficiaries being Aadhaar-seeded to plug leakages in the delivery system and enhance efficiency, the Union Ministry of Food and Public Distribution said on Wednesday.  National Portability of ration cards under the One Nation One Ration Card (ONORC) initiative has ensured re...
All 20.4 crore household ration cards digitised to ensure poor get foodgrains: Centre
All 20.4 crore household ration cards digitised to ensure poor get foodgrains: Centre
Source: IANS
2024-11-20 04:39:52 pm
Earnings growth expected to moderate to 12-14% CAGR over FY24-26: Motilal Oswal Private Wealth According to Alpha Strategist Report from Motilal Oswal Private Wealth (MOPW), earnings growth is expected to moderate to 12-14% CAGR over FY24-26 with some interim but short-lived slowdown as currently witnessed in 2QFY25.   Most of the emerging markets have experienced FII outflows during Oct amid uncertainty around US election, geopolitical tensions in middle east, stimulus announcement by China and rise in US yields. However, for India, these outflows were exacerbated by the on...
Earnings growth expected to moderate to 12-14% CAGR over FY24-26: Motilal Oswal Private Wealth
Earnings growth expected to moderate to 12-14% CAGR over FY24-26: Motilal Oswal Private Wealth
Source: Motilal Oswal Private Wealth
2024-11-20 11:30:06 am
India aims for equity and balance when negotiating FTAs: Piyush Goyal India looks for equity, balance and fair trade when negotiating a Free Trade Agreement (FTA) with countries, the government said on Tuesday.  Speaking at the 27th CITIC CLSA India Forum here, Union Commerce and Industry Minister Piyush Goyal said India enters into FTAs with countries which are transparent, open and where governments’ economic systems align with India. Minister Goyal asserted that fulfilling basic amenities of citizens has been the government’s priority ...
India aims for equity and balance when negotiating FTAs: Piyush Goyal
India aims for equity and balance when negotiating FTAs: Piyush Goyal
Source: IANS
2024-11-19 06:14:47 pm
20.58 lakh new employees enrolled under ESI scheme in Sept as jobs rise in formal sector As many as 20.58 lakh new employees were enrolled under the Employees' State Insurance Corporation (ESIC) scheme during September this year, reflecting the higher number of jobs being created in the organised sector of the Indian economy, according to data released by the Ministry of Labour and Employment on Tuesday.   The data shows that out of the total 20.58 lakh employees added during the month, 10.05 lakh employees amounting to around 48.83 per cent of the total registrations...
20.58 lakh new employees enrolled under ESI scheme in Sept as jobs rise in formal sector
20.58 lakh new employees enrolled under ESI scheme in Sept as jobs rise in formal sector
Source: IANS
2024-11-19 05:40:07 pm
Direct tax collections poised to surpass budget target for 2024-25 The Income Tax Department expects to surpass the direct tax collection target of Rs 22.07 lakh crore fixed in the Union Budget for the current financial year, according to Central Board of Direct Taxes (CBDT) chairman Ravi Agarwal. Agarwal told journalists collections from corporate and non-corporate taxes have risen and the Income Tax Department believes that it will cross the budget target for the second year in a row. This reflects the strong fiscal position of the country driven by rob...
Direct tax collections poised to surpass budget target for 2024-25
Direct tax collections poised to surpass budget target for 2024-25
Source: IANS
2024-11-19 05:09:35 pm
Finally Deposit Growth is in line with Credit Growth by CareEdge Ratings Synopsis * Credit and deposits are now growing in line with each other after deposit growth surpassed credit offtake for the first time in 30 months last fortnight. Additionally, when comparing growth rates with December 2023, deposit growth has continued to outpace credit offtake. * Credit offtake increased by 9.3% compared to December 2023, reaching Rs 174.4 lakh crores as of November 01, 2024. The growth slowdown compared to last year can be attributed to a higher base effect due to ...
Finally Deposit Growth is in line with Credit Growth by CareEdge Ratings
Finally Deposit Growth is in line with Credit Growth by CareEdge Ratings
Source: CareEdge Ratings
2024-11-19 04:41:06 pm
Centre to soon release framework for consumer protection in diamond industry The government on Tuesday said it will soon release a robust framework to ensure transparency, accountability and consumer protection across the diamond industry.  In a consultation on consumer protection in the diamond sector led by the Central Consumer Protection Authority (CCPA) under the Ministry of Consumer Affairs, the stakeholders addressed critical concerns regarding the lack of standardised terminology and inadequate disclosure practices in the diamond sector. “These...
Centre to soon release framework for consumer protection in diamond industry
Centre to soon release framework for consumer protection in diamond industry
Source: IANS
2024-11-19 04:13:27 pm
Credit, deposit growth now in line with each other in India After deposit growth outpaced credit offtake for the first time in the last 30 months some days back, the credit and deposits are now growing in line with each other, according to a report on Tuesday.  Credit offtake increased by 9.3 per cent to reach Rs 174.4 lakh crore (as of November 1) compared to December. The growth slowdown compared to last year can be attributed to a higher base effect due to the merger and RBI measures such as higher risk weights and the proposed LCR norms...
Credit, deposit growth now in line with each other in India
Credit, deposit growth now in line with each other in India
Source: IANS
2024-11-19 04:08:47 pm
Assocham seeks TDS rate rationalisation in Budget for 2025-26 Business chamber Assocham has in its pre-Budget memorandum to the Union Finance Ministry sought a rationalization of TDS (tax deduction at source) rates with a single rate of 1 per cent or 2 per cent for all payments to avoid litigation on interpretational issues and ensure ease of tax compliance.   The suggestions in the presentation relating to direct taxes also sought decriminalisation of certain TDS (Tax Deduction at Source) defaults, as the provisions relating to the same are qui...
Assocham seeks TDS rate rationalisation in Budget for 2025-26
Assocham seeks TDS rate rationalisation in Budget for 2025-26
Source: IANS
2024-11-19 02:30:27 pm
CM Siddaramaiah inaugurates 27th Edition of Bengaluru Tech Summit The 27th edition of the Bengaluru Tech Summit (BTS) 2024, jointly organised by the Department of Electronics, IT, and BT of the Karnataka government and Software Technology Parks of India (STPI), was inaugurated by Chief Minister Siddaramaiah at the Palace Grounds here on Tuesday.  The summit witnessed significant international participation from over 15 countries, including Australia, the UK, France, Austria, the European Union, Denmark, Finland, Poland, Japan, Germany, Switzerland, ...
CM Siddaramaiah inaugurates 27th Edition of Bengaluru Tech Summit
CM Siddaramaiah inaugurates 27th Edition of Bengaluru Tech Summit
Source: IANS
2024-11-19 02:23:23 pm
India`s installed renewable energy capacity to reach 250 GW by March 2026 The installed renewable energy capacity (including large hydro) in India is projected to reach 250 GW by March 2026, from the level of 201 GW (as of September this year), according to a report on Tuesday.  The capacity addition will be driven by the large project pipeline of over 80 GW, following the significant improvement in tendering activity in FY24, according to credit ratings ICRA. Moreover, the tendering activity remained high in the current fiscal, in line with the 50 GW an...
India`s installed renewable energy capacity to reach 250 GW by March 2026
India`s installed renewable energy capacity to reach 250 GW by March 2026
Source: IANS
2024-11-19 02:16:36 pm
Indian aviation sector sets new record with over 5 lakh domestic passengers in a day Showcasing the country’s growing prominence in the global aviation landscape, the Indian aviation sector achieved a historic milestone on November 17, 2024, with 5,05,412 domestic passengers departing across the country in a single day. This is the first time domestic passenger numbers have surpassed the 5-lakh mark.  The passenger count has been increasing continuously after the UDAN (Ude Desh ka Aam Nagrik) scheme, which was launched by Prime Minister Narendra Modi on October ...
Indian aviation sector sets new record with over 5 lakh domestic passengers in a day
Indian aviation sector sets new record with over 5 lakh domestic passengers in a day
Source: Accord Fintech
2024-11-19 01:40:35 pm
Proactively monitor portfolios to address potential risks, challenges: RBI Governor to bank boards RBI Governor Shaktikanta Das has asked banks to proactively monitor their portfolios, identify areas of over-concentration, and take pre-emptive measures to address potential risks and challenges. He also asked bank boards to strengthen the internal governance framework to curb unethical practices, such as mis-selling of products or opening of accounts without proper KYC verification. He also said bank boards need to continuously assess external factors like regulatory changes, shifting marke...
Proactively monitor portfolios to address potential risks, challenges: RBI Governor to bank boards
Proactively monitor portfolios to address potential risks, challenges: RBI Governor to bank boards
Source: Accord Fintech
2024-11-19 12:57:24 pm
Unemployment rate dips to 6.4% in Q2FY25: PLFS data The quarterly Periodic Labour Force Survey (PLFS) data released by the National Sample Survey Office (NSSO) has indicated that the unemployment rate for people aged 15 years and above in urban areas dipped to 6.4 per cent in the July-September quarter (Q2FY25). Joblessness, or unemployment rate, is defined as the percentage of unemployed people in the labour force. The unemployment rate in the September quarter of FY24 was 6.6 per cent. The unemployment rate for people aged 15 years and above...
Unemployment rate dips to 6.4% in Q2FY25: PLFS data
Unemployment rate dips to 6.4% in Q2FY25: PLFS data
Source: Accord Fintech
2024-11-19 12:54:54 pm
COP29: India bats for enhanced climate finance, technology transfer India on Monday sought access to enhanced financial resources, technology transfer and technical cooperation, and capacity-building support, besides the availability of market-based mechanisms.   Speaking at the high-level ministerial roundtable on pre-2030 ambition at the 29th session of the climate change conference of parties (COP29) being held from November 11-22 in Azerbaijan’s capital Baku, Leena Nandan, Secretary with India’s Ministry of Environment, Forestry and...
COP29: India bats for enhanced climate finance, technology transfer
COP29: India bats for enhanced climate finance, technology transfer
Source: IANS
2024-11-19 11:30:03 am
COP29: CDRI announces $8 million funding for 12 projects to address climate crisis The Coalition for Disaster Resilient Infrastructure (CDRI) on Monday announced $8 million of funding for 12 projects across 17 Small Island Developing States (SIDS) under its Infrastructure for Resilient Island States initiative.   Amit Prothi, CDRI Director General, said: “Small Island Developing States are vulnerable due to their geographic location and small size. Giving due consideration to the need for urgent action, we are announcing 12 new projects as part of CDRI&rsqu...
COP29: CDRI announces $8 million funding for 12 projects to address climate crisis
COP29: CDRI announces $8 million funding for 12 projects to address climate crisis
Source: IANS
2024-11-19 11:24:02 am
Centre gives finishing touches to key rail line projects linked to ports in southern states  The Centre’s Network Planning Group (NPG) which met on Monday evaluated major railway infrastructure projects including the 185 km Ballari - Chikjajur Doubling project which aims to connect Ballari, Chitradurga, and Anantapur districts, facilitating the movement of iron ore, coal, cement, and food grains. An official statement said that the 4th line is expected to support industrial hubs like Jindal Steel, which is planning to expand production to 24 MTPA while addressing freig...
Centre gives finishing touches to key rail line projects linked to ports in southern states
Centre gives finishing touches to key rail line projects linked to ports in southern states
Source: IANS
2024-11-19 10:49:37 am
Banking community should view `MSMEs as an opportunity not a risk`: Nirmala Sitharaman Finance Minister Nirmala Sitharaman has said that the banking community should view Micro, Small and Medium Enterprises (MSMEs) not merely as a sector of risk but as a sector brimming with opportunity. Sitharaman noted that cash flow-based lending has the transformative potential to address the working capital requirements of MSME units. She said India’s sound banking system, with cleaner balance sheets & adequate capital buffers and robust earnings, is well positioned to cater to t...
Banking community should view `MSMEs as an opportunity not a risk`: Nirmala Sitharaman
Banking community should view `MSMEs as an opportunity not a risk`: Nirmala Sitharaman
Source: Accord Fintech
2024-11-19 10:31:07 am
Centre fine-tunes new railway line projects on Delhi-Chennai high density corridor The Centre's high-level Network Planning Group (NPG) met on Monday to give the finishing touches to major infrastructure projects in the country, including the 134.52 km Wardha-Balharshah 4th Railway Line project to address critical congestion on the Delhi-Chennai High-Density Corridor passing through Wardha and Chandrapur districts in Maharashtra.   The region is home to key industrial hubs, including the Chandrapur Super Thermal Power Station and Ballarpur Paper Mills, and serve...
Centre fine-tunes new railway line projects on Delhi-Chennai high density corridor
Centre fine-tunes new railway line projects on Delhi-Chennai high density corridor
Source: IANS
2024-11-19 10:08:38 am
GST Council likely to decide on tax relief for life & health insurance at Dec 21 meet The GST Council will hold its next meeting in Rajasthan’s Jaisalmer on December 21, during which it is likely to take a decision on exempting or lowering the GST rate on health and life insurance.  The council, chaired by Union Finance Minister Nirmala Sitharaman, may also take up the issue of rationalising GST rates on a number of goods consumed by the common man such as bottled drinking water and notebooks for students, to bring them under the 5 per cent slab from 12 per cent ...
GST Council likely to decide on tax relief for life & health insurance at Dec 21 meet
GST Council likely to decide on tax relief for life & health insurance at Dec 21 meet
Source: IANS
2024-11-19 10:03:15 am
Average grievance redressal time reduced to 13 days from 30 days: Centre The Centre on Monday said it has cut average grievance redressal time to 13 days from 30 days, which will soon be reduced further.   Union Minister of State (Independent Charge) for Personnel, Public Grievances and Pensions, Dr Jitendra Singh, underscored this achievement as a testament to the government’s commitment to responsive and citizen-centric governance under Prime Minister Narendra Modi’s leadership. "For 28 consecutive months, central secretariats have re...
Average grievance redressal time reduced to 13 days from 30 days: Centre
Average grievance redressal time reduced to 13 days from 30 days: Centre
Source: IANS
2024-11-19 09:55:45 am
Average selling price for wearables in India grows 1.3 pc, smart rings gain popularity   The average selling price (ASP) for overall wearables in India grew by 1.3 per cent to $21.3 in the July-September period this year, an IDC report said on Monday.  The smart ring category continued to grow, with over 92,000 smart rings shipped in Q3 2024 and a reduction of 16.2 per cent in ASP to $162.1. Ultrahuman led with 36.8 per cent share, boAt (Imagine Marketing) landed at second position with 20.5 per cent share, and Pi Ring was third with 16.3 per cent share. T...
Average selling price for wearables in India grows 1.3 pc, smart rings gain popularity
Average selling price for wearables in India grows 1.3 pc, smart rings gain popularity
Source: IANS
2024-11-19 09:36:18 am
Gross exports of gems and jewellery from India see over 9 pc growth in Oct The overall gross exports of gems and jewellery from India stood at Rs 25,194 crore in October, a growth of 9.18 per cent compared to Rs 22,857.16 crore in the same month last year, bringing relief for the industry amid volatility in markets, according to a data released by the Gems and Jewellery Export Promotion Council (GJEPC) on Monday.   The overall imports of gems and jewellery for October stood at Rs 12,489.33 crore, showing a decline of 14.65 per cent as compared to Rs 14,496.0...
Gross exports of gems and jewellery from India see over 9 pc growth in Oct
Gross exports of gems and jewellery from India see over 9 pc growth in Oct
Source: IANS
2024-11-19 09:28:53 am
India central bank chief`s term likely to be extended further, sources say The Indian government is likely to extend the term of central bank governor Shaktikanta Das for a second time, three sources with direct knowledge of the matter told Reuters, an unprecedented move that would make him the longest serving chief since the 1960s. Das was one of the most trusted bureaucrats in Prime Minister Narendra Modi's administration before he was appointed to lead the Reserve Bank of India in December 2018, at a time when the relationship between the government and th...
India central bank chief`s term likely to be extended further, sources say
India central bank chief`s term likely to be extended further, sources say
Source: Reuters
2024-11-19 09:22:54 am
India`s economic growth needs more affordable interest rates, minister says  India's economic growth requires "far more affordable" bank interest rates, the finance minister said on Monday, adding New Delhi was committed to measures to ensure the economy remained on course. "At a time when we want industries to ramp up and build capacities, bank interest rates will have to be far more affordable," the minister, Nirmala Sitharaman, said at an event in Mumbai. Last week, the nation's trade minister said the Reserve Bank of India (...
India`s economic growth needs more affordable interest rates, minister says
India`s economic growth needs more affordable interest rates, minister says
Source: Reuters
2024-11-18 06:14:53 pm
Strategy : Buy ideas in the FII sell-off by JM Financial Institutional Securities Limited Nifty 50 is down 11% from its recent peak in Sep’24. During the course of this correction, 21% of stocks in the JM Financial coverage universe have fallen > 30%, 55% of stocks have fallen > 20% and 72% of the stocks have fallen > 15%. We expect a pick-up in government capex and rural demand in 2HFY25. Further, with continued SIP flows and hopefully a slowdown in FII outflows in the near future, it might not be a bad time to start analysing JM Financial’s preferred list of...
Strategy : Buy ideas in the FII sell-off by JM Financial Institutional Securities Limited
Strategy : Buy ideas in the FII sell-off by JM Financial Institutional Securities Limited
Source: JM Financial Services Ltd
2024-11-18 04:57:53 pm
India rated fastest growing G20 economy with GDP growth projected at 7 pc for 2024 India is projected to be the fastest growing economy among the G20 countries with a 7 per cent GDP growth rate for 2024, followed by Indonesia in the second spot with 5 per cent while China is ranked third with an economic growth rate of 4.8 per cent.   "India takes the lead in the G20 with an impressive 7 per cent GDP growth rate projected for 2024! This achievement highlights India's robust economy, showcasing its resilience and fast-paced growth amidst global challenges,&q...
India rated fastest growing G20 economy with GDP growth projected at 7 pc for 2024
India rated fastest growing G20 economy with GDP growth projected at 7 pc for 2024
Source: IANS
2024-11-18 03:52:18 pm
Electronics, engineering, agricultural goods propel India`s export growth: CRISIL India's core group exports surged 27.7 per cent in October with growth being particularly strong in categories such as engineering goods, electronic goods, chemicals, textiles, marine products and rice, according to a CRISIL report released on Monday.   Growth improved for key core sectors such as engineering goods (39.4 per cent vs 10.6 per cent), drugs and pharmaceuticals (8.2 per cent vs 7.2 per cent), organic and inorganic chemicals (27.4 per cent vs 11.2 per cent) and electro...
Electronics, engineering, agricultural goods propel India`s export growth: CRISIL
Electronics, engineering, agricultural goods propel India`s export growth: CRISIL
Source: IANS
2024-11-18 03:33:19 pm
Ayushman Vay Vandana enrolment crosses 10 lakh mark within three weeks of rollout In a significant milestone, Ayushman Vay Vandana enrolment crossed 10 lakh mark, within three weeks of the card’s rollout by Prime Minister, Narendra Modi on October 29, 2024.  More than 10 lakh senior citizens aged 70 and above have enrolled for the newly launched Ayushman Vay Vandana Card, enabling them to access free healthcare benefits under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY). Around 4 lakh enrolments under Ayushman Vay Vandana card are by femal...
Ayushman Vay Vandana enrolment crosses 10 lakh mark within three weeks of rollout
Ayushman Vay Vandana enrolment crosses 10 lakh mark within three weeks of rollout
Source: Accord Fintech
2024-11-18 02:04:29 pm
Automobile retail sales grow 12% to 42.88 lakh units in festive period: FADA Federation of Automobile Dealers Associations (FADA) has said that automobile retail sales in India rose 12 per cent year-on-year to 42,88,248 units in the 42-day-long festive period this year. The overall automotive registrations in the festive period of the last year stood at 38,37,040 units. FADA said passenger vehicle retail increased by 7 per cent to 6,03,009 units in the festive period this year against 5,63,059 units in the same period last year. Two-wheeler registrations increased ...
Automobile retail sales grow 12% to 42.88 lakh units in festive period: FADA
Automobile retail sales grow 12% to 42.88 lakh units in festive period: FADA
Source: Accord Fintech
2024-11-18 12:59:31 pm
Over 77 lakh Digital Life Certificates issued to ease life for pensioners: Centre he Centre’s campaign to ease life for pensioners has made considerable progress with over 77 lakh Digital Life Certificates (DLCs) being issued to them nationwide by the end of second week of its launch, it was announced on Monday.  As many as 1,77,153 pensioners covered under the Digital Life Certificate (DLC) Campaign 3.0 are above 90 years old while 17,212 pensioners are in the 80–90 years category, according to an official statement. Advanced authentication methods ...
Over 77 lakh Digital Life Certificates issued to ease life for pensioners: Centre
Over 77 lakh Digital Life Certificates issued to ease life for pensioners: Centre
Source: IANS
2024-11-18 12:31:14 pm
Exclusive-India cenbank plans 2025 launch of cloud services, countering dominance of global firms  India's central bank will launch a pilot programme in 2025 offering local cloud data storage to financial firms at affordable prices, according to two sources aware of the matter, who declined to be identified as conversations are confidential. The Reserve Bank of India's planned cloud platform will use local IT firms, pitting it against the likes of Amazon Web Services, Microsoft Azure, Google Cloud and IBM Cloud, in a first-of-its-kind initiative from a major global central...
Exclusive-India cenbank plans 2025 launch of cloud services, countering dominance of global firms
Exclusive-India cenbank plans 2025 launch of cloud services, countering dominance of global firms
Source: Reuters
2024-11-18 12:14:16 pm
Government needs to increase healthcare expenditure in India: Former RBI governor Former Reserve Bank of India (RBI) governor C Rangarajan has said that India's healthcare expenditure is currently less than 2 per cent of its Gross Domestic Product (GDP) and the governments must urgently increase it. He stressed on the importance of ensuring efficient fund utilisation before increasing healthcare spending. Rangarajan said ‘in India, there is a consistent discussion on raising healthcare expenditure to at least 2.8 per cent of the GDP. However, current data indi...
Government needs to increase healthcare expenditure in India: Former RBI governor
Government needs to increase healthcare expenditure in India: Former RBI governor
Source: Accord Fintech
2024-11-18 11:28:43 am
India`s overall textiles exports surge 11.6% in October The Confederation of Indian Textile Industry (CITI) in its report, citing government data, has said that textiles exports from India during October were about 11.56 per cent higher at $1,833.95 million, compared to the same month last year. At the same time, apparel exports registered a significant growth of 35.06 per cent during the same period October at $1,227.44 million.  It said cumulative exports of textiles and apparel in October 2024 increased by 19.93 per cent compared to Oct...
India`s overall textiles exports surge 11.6% in October
India`s overall textiles exports surge 11.6% in October
Source: Accord Fintech
2024-11-18 10:10:19 am
Indian economy capable of handling global shocks: RBI Governor Reserve Bank of India (RBI) Governor Shaktikanta Das has said that the Indian economy is strong enough to handle any adverse fallout from global events.  "Today, the growth of the Indian economy presents a picture of stability and strength," Das said while addressing an event at the launch of the Kochi International Foundation here. The country's external sector is also strong and the current account deficit (CAD) has remained within manageable limits as it presently ...
Indian economy capable of handling global shocks: RBI Governor
Indian economy capable of handling global shocks: RBI Governor
Source: IANS
2024-11-17 04:44:36 pm