News

Slowdown in US economy to push FPIs buy more in India As the unemployment rate falls in the US but hiring slows down as Federal Reserve gears up for a rate cut this month, the developments are likely to push foreign portfolio investors (FPIs) increase their investments in India, market experts said on Saturday.  Early September witnessed buying by FPIs mainly due to the resilience of the Indian market. FPIs invested Rs 9,642 crore in equity through the exchanges and Rs 1,388 crore through the ‘primary market and others’ ca...
Slowdown in US economy to push FPIs buy more in India
Slowdown in US economy to push FPIs buy more in India
Source: IANS
2024-09-07 05:24:58 pm
India`s forex reserves up $2.3 billion to touch new high of $683.9 billion India's forex reserves increased by $2.299 billion to a new high of $683.98 billion for the week ended August 30, the Reserve Bank of India (RBI) data showed on Friday.  For the week, foreign currency assets, a major component of the reserves, increased by $1.485 billion to $599.037 billion. In the week ended August 23, the country’s forex reserves had surged $7.023 billion to touch a new high of $681.68 billion. According to the Central Bank, gold reserves increased b...
India`s forex reserves up $2.3 billion to touch new high of $683.9 billion
India`s forex reserves up $2.3 billion to touch new high of $683.9 billion
Source: IANS
2024-09-07 09:20:32 am
Indian government had no outstanding loans from RBI in Aug 30 week The Indian government had no outstanding loans with the central bank under ways and means advances in the week ended Aug. 30, according to the Reserve Bank of India's weekly statistical supplement released on Friday. The central government had no outstanding loans in the week earlier as well. State governments had 133.81 billion rupees loans from the RBI in the week ended Aug. 30, compared with 268.02 billion rupees in the previous week, the release showed. Source text: (ht...
Indian government had no outstanding loans from RBI in Aug 30 week
Indian government had no outstanding loans from RBI in Aug 30 week
Source: Reuters
2024-09-06 05:57:49 pm
Bengaluru`s Registered Home Sales Value Jumps 30% Sequentially; Transactions Up 19% in June Quarter : Square Yards Bengaluru's residential market continues to display steady growth as registered transactions maintain upward momentum both sequentially and annually. According to data from Square Yards, a total of 28,356 transactions were recorded in the city during the second quarter of 2024, marking a 19% increase over the previous quarter. In a notable trend, the value of registered sales surged at an even faster rate of 30% during the same period, reaching Rs. 19,631 crores by the end of the June qua...
Bengaluru`s Registered Home Sales Value Jumps 30% Sequentially; Transactions Up 19% in June Quarter : Square Yards
Bengaluru`s Registered Home Sales Value Jumps 30% Sequentially; Transactions Up 19% in June Quarter : Square Yards
Source: Square Yards
2024-09-06 04:56:19 pm
Piyush Goyal moots idea of introduction of border adjustment tax to safeguard steel industry Commerce and Industry Minister Piyush Goyal has mooted the idea of introduction of border adjustment tax and suggested discussions on this with the steel industry with a view to protect the domestic players by providing a level-playing field against increasing imports. He said that this tax is in compliance with the World Trade Organization (WTO). The idea assumes significance as the industry is seeking protection from imports at predatory prices.  The minister also asked the ind...
Piyush Goyal moots idea of introduction of border adjustment tax to safeguard steel industry
Piyush Goyal moots idea of introduction of border adjustment tax to safeguard steel industry
Source: Accord Fintech
2024-09-06 01:47:15 pm
Maharashtra tops in attracting highest FDI worth Rs 70,795 cr in Q1FY25  Maharashtra has topped in attracting the highest Foreign Direct Investment (FDI) during the first quarter of the current financial year 2024-2025.  According to the Department for Promotion of Industry and Internal Trade (DPIIT), Maharashtra continues to maintain a number one slot among other states as it has received the FDI of Rs 70,795 crore in the first quarter of April to June 2024-25. The neighbouring Karnataka ranked second by attracting investment worth Rs 19,059 cror...
Maharashtra tops in attracting highest FDI worth Rs 70,795 cr in Q1FY25
Maharashtra tops in attracting highest FDI worth Rs 70,795 cr in Q1FY25
Source: IANS
2024-09-06 12:27:41 pm
Railways achieves 653 MT freight loading by August of FY24-25: Railway Board The Railway Board has said that the freight loading statistics for August 2024 highlighted the remarkable performance of Indian Railways as a total of 126.97 million tonnes (MT) of freight was loaded in August alone, contributing to a cumulative total of 653.22 MT for the financial year 2024-25 up to August. As the backbone of the nation's freight transportation, Indian Railways has been facilitating the movement of a vast array of goods across the country with an unwavering commitment to...
Railways achieves 653 MT freight loading by August of FY24-25: Railway Board
Railways achieves 653 MT freight loading by August of FY24-25: Railway Board
Source: Accord Fintech
2024-09-06 11:49:52 am
India pips China to become largest weight in MSCI Emerging Market IMI Strong fundamentals have helped India pip China in the MSCI EM Investable Market Index (IMI) to become the largest weight. The world’s fastest-growing economy is also set to surpass China as the top weight in the broader MSCI Emerging Markets index too.  The MSCI Emerging Markets IMI captures large, mid and small cap representation across 24 Emerging Markets (EM) countries. With 3,355 constituents, the index covers approximately 99 per cent of the free float-adjusted market capi...
India pips China to become largest weight in MSCI Emerging Market IMI
India pips China to become largest weight in MSCI Emerging Market IMI
Source: IANS
2024-09-06 10:43:11 am
India, Singapore agree to cooperate in development of semiconductor ecosystem The Ministry of Trade and Industry of Singapore has said that India and Singapore agreed to cooperate in the development of the semiconductor ecosystem. Both countries signed a Memorandum of Understanding (MoU) for cooperation in the sector. The MOU was exchanged in the presence of India’s Prime Minister Narendra Modi and Prime Minister Lawrence Wong during Prime Minister Modi’s Official Visit to Singapore. The MoU aims to support India’s growing semiconductor industry wh...
India, Singapore agree to cooperate in development of semiconductor ecosystem
India, Singapore agree to cooperate in development of semiconductor ecosystem
Source: Accord Fintech
2024-09-06 10:24:03 am
Average household spending on food less than half for 1st time in modern India Significant changes are unfolding in India’s food consumption pattern and the share of total household expenditure on food has declined substantially in rural and urban areas and across all states and union territories (UTs) since 1947, a government paper has revealed.  It is the first time in modern India (post-independence) that average household spending on food is less than half the overall monthly spending of households and is a marker of significant progress, according to ...
Average household spending on food less than half for 1st time in modern India
Average household spending on food less than half for 1st time in modern India
Source: IANS
2024-09-06 10:07:52 am
India set to be world`s 3rd-largest economy by decade`s end: Gautam Adani It is now well established that by the end of this decade, India is set to be the world’s third-largest economy under Prime Minister Narendra Modi-led government’s third term, Gautam Adani, the Chairman of the Adani Group, said here on Thursday.  In his address at the city’s Jai Hind College on the occasion of Teachers’ Day, Gautam Adani said that India is also positioned to consolidate the several groundbreaking initiatives launched by the government and conti...
India set to be world`s 3rd-largest economy by decade`s end: Gautam Adani
India set to be world`s 3rd-largest economy by decade`s end: Gautam Adani
Source: IANS
2024-09-06 09:48:09 am
Full literacy, zero poverty biggest boundary to break to become superpower: Gautam Adani Gautam Adani, the Chairman of the Adani Group, said here on Thursday that as India aspires to become a superpower, we must aim at breaking the final boundary to help the country take that giant leap -- full literacy and zero poverty.  Sharing his own life examples about how he broke several boundaries to take the Adani Group to scale new heights, Gautam Adani said the future belongs to those who dare to see beyond the present and recognise that today's limits are tomorrow's st...
Full literacy, zero poverty biggest boundary to break to become superpower: Gautam Adani
Full literacy, zero poverty biggest boundary to break to become superpower: Gautam Adani
Source: IANS
2024-09-06 09:43:27 am
GST rate much below revenue neutral rate to lessen burden on taxpayers: FM Nirmala Sitharaman Union Finance Minister Nirmala Sitharaman on Thursday said that the goods and services tax (GST) rate is much below the revenue neutral rate (RNR), originally suggested at 15.3 per cent, which means less burden on taxpayers.  The current average GST rate has decreased to 12.2 per cent as of 2023, much below the revenue neutral rate in GST, the Finance Minister said during an event organised by the Revenue Bar Association here. The government needs to raise revenue, "but simpli...
GST rate much below revenue neutral rate to lessen burden on taxpayers: FM Nirmala Sitharaman
GST rate much below revenue neutral rate to lessen burden on taxpayers: FM Nirmala Sitharaman
Source: IANS
2024-09-05 04:19:30 pm
India's GDP to expand 7.2% in FY25 despite lower Q1 growth, says cenbank chief Despite the moderation seen in India's first quarter gross domestic product growth (GDP), the South Asian economy is likely to achieve full year growth of 7.2% as projected, the Reserve Bank of India Governor Shaktikanta Das said on Thursday. India's economic growth slowed to 6.7% year-on-year in the April-June quarter, below the polled estimate of 6.9% and the RBI's projection of 7.1%, as a decline in government spending during national elections weighed. "Fundamental ...
India's GDP to expand 7.2% in FY25 despite lower Q1 growth, says cenbank chief
India's GDP to expand 7.2% in FY25 despite lower Q1 growth, says cenbank chief
Source: Reuters
2024-09-05 02:31:35 pm
Financial services sector must grow 20 times towards $30 trillion GDP goal by 2047 In order to achieve a $30 trillion GDP by 2047, India will require a 20 times growth in the financial services sector, with banks playing a pivotal role, a report showed on Thursday.  Future growth will require $4 trillion of capital base in banks, one-third of which will have to be fresh capital deployment, according to the report by Boston Consulting Group (BCG) in association with FICCI and Indian Banks’ Association. India's banking system is in a strong position today...
Financial services sector must grow 20 times towards $30 trillion GDP goal by 2047
Financial services sector must grow 20 times towards $30 trillion GDP goal by 2047
Source: IANS
2024-09-05 01:38:44 pm
Indian women leading 18pc of 111 unicorns in India: FM Indian women are rising the corporate ladder as they are leading about 18 per cent of 111 unicorns (valued at $1 billion) in the startup and financial technology space, said Nirmala Sitharaman, Union Finance Minister.  Speaking at a conference organised by the FICCI-FLO Chennai Chapter in Chennai, Sitharaman said the number of women directors in active corporate companies has increased more than three times in the last decade. From 2.58 lakh in 2014, women directors associated with...
Indian women leading 18pc of 111 unicorns in India: FM
Indian women leading 18pc of 111 unicorns in India: FM
Source: IANS
2024-09-05 12:46:41 pm
Passenger vehicle retail sales in India witness 5% decline in August 2024: FADA Federation of Automobile Dealers Associations (FADA) in its latest data has showed that passenger vehicle retail sales in India witnessed a 5 per cent on-year decline in August 2024 on account of delayed customer purchases, poor consumer sentiment and persistent heavy rains. The overall passenger vehicle (PV) registrations in August 2024 stood at 3,09,053 units, as compared to 3,23,720 units in August 2023.  According to the data, commercial vehicle registrations saw a 6 per cent year...
Passenger vehicle retail sales in India witness 5% decline in August 2024: FADA
Passenger vehicle retail sales in India witness 5% decline in August 2024: FADA
Source: Accord Fintech
2024-09-05 12:18:20 pm
Centre to create Aadhaar-like digital IDs for 11 crore farmers by FY27  In a bid to empower the farmers' community, the government is targeting to create digital identities for 11 crore farmers over the three fiscals which will be similar to Aadhaar card.  The goal is part of ‘AgriStack’ initiative which has been designed as a farmer-centric Digital Public Infrastructure (DPI) to streamline services and scheme delivery to farmers. A crucial feature of AgriStack is the introduction of a 'Farmer ID', similar to Aadhaar card,...
Centre to create Aadhaar-like digital IDs for 11 crore farmers by FY27
Centre to create Aadhaar-like digital IDs for 11 crore farmers by FY27
Source: IANS
2024-09-05 11:54:49 am
World Bank's suggestion for India to reconsider joining RCEP based on flawed assumptions: GTRI The Global Trade Research Initiative (GTRI) Founder Ajay Srivastava has said that the World Bank's suggestion for India to reconsider joining RCEP (Regional Comprehensive Economic Partnership) is based on flawed assumptions and outdated projections. He said for developing countries like India, policy decisions must be rooted in real-world data and a thorough understanding of the long-term implications.  GTRI Founder said India pulled out of the RCEP in 2019 after entering negotiat...
World Bank's suggestion for India to reconsider joining RCEP based on flawed assumptions: GTRI
World Bank's suggestion for India to reconsider joining RCEP based on flawed assumptions: GTRI
Source: IANS
2024-09-05 11:39:58 am
India remains fastest growing paper market in world: IPMA The Indian Paper Manufacturers Association (IPMA) in its latest report has said that India remains the fastest-growing paper market in the world with domestic consumption of packaging paper and paperboard growing at 8.2 per cent in 2023-24. It mentioned the domestic packaging paper & paperboard market stands at about 15 million tonnes which is nearly 65 per cent of the total paper, paperboard and newsprint market of 23 million tonnes in the country.  It said demand for better qual...
India remains fastest growing paper market in world: IPMA
India remains fastest growing paper market in world: IPMA
Source: Accord Fintech
2024-09-05 10:19:15 am
Indian central bank likely selling dollars to prevent rupee from dipping past 84, traders say  The Reserve Bank of India was likely selling U.S. dollars on Thursday to prevent the rupee from weakening past the key psychological level of 84, four traders told Reuters. The rupee was quoting at 83.9675 per U.S. dollar compared to 83.9650 in the previous session. The rupee "has not caught any relief" from the "helpful Asia cues" and again needs the help of RBI, a currency trader at a mid-sized private sector bank said. Other Asian currencies were higher o...
Indian central bank likely selling dollars to prevent rupee from dipping past 84, traders say
Indian central bank likely selling dollars to prevent rupee from dipping past 84, traders say
Source: Reuters
2024-09-05 09:39:59 am
A healthy India can help add Rs 15 lakh crore to its GDP by 2047 India is in an alarmingly inactive state, raising several health concerns, warns a report on Wednesday, which showed that boosting sports and physical activity in the country can add Rs 15 lakh crore to its GDP by 2047.  The report by Dalberg Advisors, a Global Consulting Firm showed that at least 155 million Indian adults and 45 million adolescents fail to meet the World Health Organization (WHO) guidelines on physical activity. The WHO advises that adults should get at least 150 to ...
A healthy India can help add Rs 15 lakh crore to its GDP by 2047
A healthy India can help add Rs 15 lakh crore to its GDP by 2047
Source: IANS
2024-09-04 04:16:40 pm
Over 78 lakh EPS pensioners can get pension from any bank, anywhere from Jan 1, 2025  The Centre on Wednesday approved the Centralised Pension Payments System (CPPS) that will benefit more than 78 lakh people under the Employee Pension Scheme (EPS), which is part of the Employees' Provident Fund Organisation (EPFO).  Dr Mansukh Mandaviya, Union Minister of Labour and Employment, said that EPS pensioners can get pension from any bank, any branch, anywhere in India from January 1, 2025. According to the ministry, there will also be no need for pensioners to ...
Over 78 lakh EPS pensioners can get pension from any bank, anywhere from Jan 1, 2025
Over 78 lakh EPS pensioners can get pension from any bank, anywhere from Jan 1, 2025
Source: IANS
2024-09-04 03:50:46 pm
NBFCs` education loan AUM likely to cross Rs 60,000 crore in FY25: CRISIL CRISIL Ratings in its latest report has said that education loans, primarily those to fund courses overseas, will continue to be among the fastest-growing segments for non-banking financial companies (NBFCs) because of rising demand for higher education. After robust growth of over 80% and 70% in fiscals 2023 and 2024, respectively, NBFCs’ education loan assets under management (AUM) rose to around Rs 43,000 crore as on March 31, 2024. Their AUM is expected to grow at a healthy clip of ...
NBFCs` education loan AUM likely to cross Rs 60,000 crore in FY25: CRISIL
NBFCs` education loan AUM likely to cross Rs 60,000 crore in FY25: CRISIL
Source: Accord Fintech
2024-09-04 01:53:19 pm
India central bank likely intervening to prevent rupee from slipping to record low, traders say India's central bank was selling dollars at the 83.97 level on Wednesday to keep the rupee from dropping to a lifetime low, three traders told Reuters. The rupee was at 83.9650 to the U.S. dollar, avoiding a dip past the lifetime low of 83.9725 hit in the first week of August. "Consistently seeing offers (on dollar/rupee) at 83.97 (on interbank order matching system) and from brokers," a currency trader at a bank said. "RBI yet again does not want to see 84."
India central bank likely intervening to prevent rupee from slipping to record low, traders say
India central bank likely intervening to prevent rupee from slipping to record low, traders say
Source: Reuters
2024-09-04 12:41:36 pm
Rs 750 crore `AgriSURE Fund` to empower startups, boost rural economy In a pioneering step toward revolutionising the agricultural landscape in India, the government has launched the ‘AgriSURE Fund’ with a capital pool of Rs 750 crore to further drive investments that will empower farmers and boost the rural economy.  With a focus on technology-driven, high-impact ventures, ‘AgriSURE’ is designed to fuel growth and foster innovation in the agricultural and rural start-up ecosystem. According to the government, it will provide ...
Rs 750 crore `AgriSURE Fund` to empower startups, boost rural economy
Rs 750 crore `AgriSURE Fund` to empower startups, boost rural economy
Source: IANS
2024-09-04 12:06:35 pm
India`s steel ministry backs industry's demand to raise tariffs India's steel minister will try to convince the finance ministry to raise tariffs on steel imports, he said on Wednesday, to protect domestic mills from a rise in cheaper imports from countries such as China. India, the world's second biggest crude steel producer, turned net steel importer in the fiscal year through March, and the trend continued during the first four months of the fiscal year that began in April. China was the top steel exporter to India from April to July, shi...
India`s steel ministry backs industry's demand to raise tariffs
India`s steel ministry backs industry's demand to raise tariffs
Source: Reuters
2024-09-04 11:48:05 am
Evolving asset quality risks to dampen growth, profitability of microfinance sector: ICRA Credit rating agency ICRA in its latest report has said that the increasing delinquencies in the microfinance sector, which is likely to push up the Non-banking finance companies - microfinance institutions (NBFC-MFI) credit costs to 320-340 bps in FY2025 from 220 bps in FY2024. It said the evolving asset quality risks will dampen sectoral growth and earnings in the current fiscal. While demand remains robust, ICRA expects the NBFC-MFIs’ AUM growth to significantly moderate to 17-19% in...
Evolving asset quality risks to dampen growth, profitability of microfinance sector: ICRA
Evolving asset quality risks to dampen growth, profitability of microfinance sector: ICRA
Source: Accord Fintech
2024-09-04 11:34:22 am
India`s services sector growth accelerates to 5-month high in August, PMI shows  Activity in India's dominant services sector rose at its fastest pace in five months in August as demand remained resilient amid easing inflationary pressures, a survey showed. The HSBC final India Services Purchasing Managers' Index, compiled by S&P Global, rose to 60.9 in August, up from July's 60.3 and exceeding a preliminary estimate of 60.4. The reading, which has topped the 50-mark separating growth from contraction since August 2021, was above the long-run a...
India`s services sector growth accelerates to 5-month high in August, PMI shows
India`s services sector growth accelerates to 5-month high in August, PMI shows
Source: Reuters
2024-09-04 11:31:12 am
Government committed to creating conducive environment for employment generation, economic growth: Mansukh Mandaviya Mansukh Mandaviya, Union Minister for Labour and Employment and Youth Affairs and Sports, has said that employment generation is a top priority for the government, and the Employment Linked Incentive (ELI) Scheme is a step in the right direction to achieve this goal. Government is committed to working closely with stakeholders to design a scheme that is robust, inclusive, and aligned with the needs of the economy. Mandaviya highlighted that the Employment Linked Incentive Scheme is a cruci...
Government committed to creating conducive environment for employment generation, economic growth: Mansukh Mandaviya
Government committed to creating conducive environment for employment generation, economic growth: Mansukh Mandaviya
Source: Accord Fintech
2024-09-04 10:12:21 am
Indian economy remains resilient despite uncertainties at global front: Industry  With the World Bank revising India’s growth outlook from previous forecast of 6.6 per cent to 7 per cent in the current fiscal, industry leaders said on Tuesday that the country is continuously increasing its resilience despite many uncertainties at the global front.  According to the World Bank, the Indian economy continues to grow at a healthy pace and the country's medium-term outlook remains positive. “India’s growth forecast at 7 per cent in 2024-25...
Indian economy remains resilient despite uncertainties at global front: Industry
Indian economy remains resilient despite uncertainties at global front: Industry
Source: IANS
2024-09-04 09:13:27 am
Education loan AUM of NBFCs in India to cross Rs 60,000 crore this fiscal Amid the rising demand for higher education abroad, the education loan asset under management (AUM) of non-banking financial companies (NBFCs) in India is projected to grow at healthy 40-45 per cent to cross Rs 60,000 crore this fiscal, a report said on Tuesday.  After robust growth of over 80 per cent and 70 per cent in fiscals 2023 and 2024, respectively, NBFCs’ education loan AUM rose to Rs 43,000 crore as on March 31, 2024, according to a report by CRISIL Ratings. The num...
Education loan AUM of NBFCs in India to cross Rs 60,000 crore this fiscal
Education loan AUM of NBFCs in India to cross Rs 60,000 crore this fiscal
Source: IANS
2024-09-03 04:35:55 pm
Indian economy continues to grow at healthy pace despite challenging global conditions: World Bank The World Bank in its latest ‘India Development Update: India’s Trade Opportunities in a Changing Global Context’ has said that the Indian economy continues to grow at a healthy pace despite challenging global conditions. But to reach its $1 trillion merchandise exports goal by 2030, India needs to diversify its export basket and leverage global value chains. As per the India Development Update, India remained the fastest-growing major economy and grew at a rapid clip of ...
Indian economy continues to grow at healthy pace despite challenging global conditions: World Bank
Indian economy continues to grow at healthy pace despite challenging global conditions: World Bank
Source: Accord Fintech
2024-09-03 01:44:50 pm
State finance ministers should consider reducing GST on flex-fuel vehicles to 12%: Nitin Gadkari Union Minister Nitin Gadkari has said that state finance ministers should consider reducing Goods and Services Tax (GST) on flex-fuel vehicles to 12 per cent in the GST Council meeting. He said there is a need to reduce imports of fossil fuels and encourage the use of biofuel. Flex-fuel-compatible cars can run on more than one type of fuel and also on a mixture. Typically, a blend of petrol and ethanol or methanol is used. The minister noted that at present, 28 per cent GST is levied on ve...
State finance ministers should consider reducing GST on flex-fuel vehicles to 12%: Nitin Gadkari
State finance ministers should consider reducing GST on flex-fuel vehicles to 12%: Nitin Gadkari
Source: Accord Fintech
2024-09-03 12:37:05 pm
Cabinet approves seven big-ticket programmes for holistic growth of agriculture, allied sectors The Union Cabinet has approved seven big-ticket programmes for the holistic growth of agriculture and allied sectors with a total outlay of nearly Rs 14,000 crore, as it aims to improve farmers' income. The focus of these programmes would be on research & education, climate resilience, natural resource management and digitisation in the agriculture sector along with emphasis on growth of horticulture and livestock sectors.  The Cabinet has approved crop science for food and nu...
Cabinet approves seven big-ticket programmes for holistic growth of agriculture, allied sectors
Cabinet approves seven big-ticket programmes for holistic growth of agriculture, allied sectors
Source: Accord Fintech
2024-09-03 12:30:48 pm
Favourable monsoon boosts paddy sowing beyond normal levels this year Better monsoon this year has helped paddy sowing surpass the average area of the last five years. The paddy cultivation reached 408.72 lakh hectares (as of September 2), exceeding the average of 401.55 lakh hectares.  This represents a 3.84 per cent increase in paddy cultivation compared to last year, when 393.57 lakh hectares were sown by this time. According to the Ministry of Agriculture and Farmers Welfare, Kharif crop sowing has expanded by 1.91 per cent to 1,087.33 lakh hecta...
Favourable monsoon boosts paddy sowing beyond normal levels this year
Favourable monsoon boosts paddy sowing beyond normal levels this year
Source: IANS
2024-09-03 11:51:34 am
30 crore unorganised workers register on eShram portal in just 3 years The eShram portal, launched by the government to support unorganised workers across the country, has crossed 30 crore registrations in just three years of its launch.  The integration of social security schemes on eShram will help in saturation of schemes and access of schemes to eligible eShram workers. According to the Union Budget 2024-25, a comprehensive integration of eShram portal with other government websites will facilitate a ‘One-Stop-Solution’. Launched on...
30 crore unorganised workers register on eShram portal in just 3 years
30 crore unorganised workers register on eShram portal in just 3 years
Source: IANS
2024-09-03 11:08:07 am
Commercial vehicle wholesale volume likely to grow up to 3% in FY25 : ICRA Rating agency ICRA in its latest report has said that the commercial vehicles (CV) wholesale volume may witness year-on-year growth of up to 3 per cent in current fiscal year. It had earlier estimated 4-7 per cent decline in CV volume for FY25. It stated that the change in projection is due to better-than-expected volume growth in first four months of the current fiscal and expectations of a marginal uptick in demand in the second half of the year. It added FY25 will be the second consecut...
Commercial vehicle wholesale volume likely to grow up to 3% in FY25 : ICRA
Commercial vehicle wholesale volume likely to grow up to 3% in FY25 : ICRA
Source: Accord Fintech
2024-09-03 10:14:26 am
Indian investors could see Rs 250 per month SIP soon: SEBI Chief The day is not far when Indian investors could witness a Rs 250 per month systematic investment plan (SIP) that will make financial inclusion more accessible, SEBI Chairperson Madhabi Puri Buch said on Monday.  Speaking at a CII event here, Buch said the initiative is being worked on in collaboration with the mutual fund industry. “The inclusion agenda is of prime importance to SEBI and the introduction of a Rs 250 SIP, by reducing the servicing cost, is a shining example in ...
Indian investors could see Rs 250 per month SIP soon: SEBI Chief
Indian investors could see Rs 250 per month SIP soon: SEBI Chief
Source: IANS
2024-09-03 10:06:10 am
Ethanol blending surges from 1.53 pc to 15 pc in last 10 years : Hardeep Singh Puri The ethanol blending percentage has surged from 1.53 per cent to 15 per cent in the last 10 years, Union Petroleum Minister Hardeep Singh Puri said on Monday, emphasising that bioenergy is increasingly becoming a crucial alternative to fossil fuels, offering both environmental benefits and economic opportunities, particularly in rural areas.  Encouraged by this progress, the government has set an ambitious target of reaching 20 per cent blending by 2025 and is confidently progressing ...
Ethanol blending surges from 1.53 pc to 15 pc in last 10 years : Hardeep Singh Puri
Ethanol blending surges from 1.53 pc to 15 pc in last 10 years : Hardeep Singh Puri
Source: IANS
2024-09-03 09:48:25 am
Cabinet okays 7 schemes worth about Rs 14,000 crore to boost farmers’ livelihoods The Cabinet on Monday approved seven key schemes to improve farmers’ lives and increase their incomes at a total outlay of Rs 13,966 crore.  Based on the Digital Public Infrastructure (DPI), the ‘Digital Agriculture Mission’ will use technology for improving farmers’ lives with a total outlay of Rs 2,817 crore.  It has provision for soil profile, digital crop estimation, digital yield modelling, connect for crop loan, modern technologies like AI and Big...
Cabinet okays 7 schemes worth about Rs 14,000 crore to boost farmers’ livelihoods
Cabinet okays 7 schemes worth about Rs 14,000 crore to boost farmers’ livelihoods
Source: IANS
2024-09-03 09:39:14 am
Luxury property frenzy set to drive up home prices in India Home prices in India are set to rise steadily over the next few years, driven by demand for luxury properties from cash-rich individuals, according to a Reuters poll of housing experts who forecast rent increases will outpace consumer inflation. While economic growth in Asia's third-largest economy is likely to outpace its major peers, policy experts warn the benefits are increasingly being funnelled to a select few, leaving millions of job-seekers, especially young people, out of the ...
Luxury property frenzy set to drive up home prices in India
Luxury property frenzy set to drive up home prices in India
Source: Reuters
2024-09-03 09:25:39 am
India`s coal production sees 6.48 pc growth at 384 MT in April-August  The coal production in India reached 384.08 million tonnes (MT) up to August in the current fiscal, a growth of 6.48 per cent compared to 360.71 MT during the same period in FY24, the government said on Monday.  According to the Ministry of Coal, the production of Coal India Limited (CIL) surged to 290.39 MT during the period of April-August, marking a growth of 3.17 per cent as compared to 281.46 MT during the corresponding period of last period. Coal production from captive...
India`s coal production sees 6.48 pc growth at 384 MT in April-August
India`s coal production sees 6.48 pc growth at 384 MT in April-August
Source: IANS
2024-09-02 04:46:11 pm
Developers driving GDP growth in AI era: GitHub CEO Developers are driving GDP growth and in the era of artificial intelligence (AI), India is set to surpass the US to become the largest software developer community globally by 2027, according to Thomas Dohmke, CEO of Microsoft-owned software development collaboration platform GitHub.  India is creating the digital public infrastructure (DPI) of the future with the help of millions of talented developers, fuelling economic growth. At the ‘ET World Leaders Forum’ event in...
Developers driving GDP growth in AI era: GitHub CEO
Developers driving GDP growth in AI era: GitHub CEO
Source: IANS
2024-09-02 03:22:03 pm
Indian commercial vehicle industry reverses decline, to see modest growth in FY25 The domestic commercial vehicle industry is projected to grow at a modest 0-3 per cent in FY25, against the earlier estimated decline of 4-7 per cent, a report showed on Monday.  The current fiscal will be the second consecutive year of growth for the industry after a 1 per cent and 3 per cent YoY growth in wholesale and retail sales, respectively, in FY24, according to credit rating agency ICRA. This follows a better-than-expected volume growth in four months in current fiscal and...
Indian commercial vehicle industry reverses decline, to see modest growth in FY25
Indian commercial vehicle industry reverses decline, to see modest growth in FY25
Source: IANS
2024-09-02 01:47:27 pm
Centre's fiscal deficit in Apr-Jul at 17.2% of full-year target: CGA data The Controller General of Accounts (CGA) in its latest data has showed that the Centre's fiscal deficit at the end of first four months of FY25 (April-July 2024) touched 17.2 per cent of the full-year target. In absolute terms, the fiscal deficit -- the gap between expenditure and revenue -- was Rs 2,76,945 crore as of July-end. The deficit stood at 33.9 per cent of the Budget Estimates (BE) in the corresponding period of 2023-24. In the Union Budget, the government projected to bring dow...
Centre's fiscal deficit in Apr-Jul at 17.2% of full-year target: CGA data
Centre's fiscal deficit in Apr-Jul at 17.2% of full-year target: CGA data
Source: Accord Fintech
2024-09-02 12:39:13 pm
Quote on GST collection August 2024 by Dr. Manoranjan Sharma, Chief Economist at Infomerics Ratings Below the Quote on GST collection August 2024 by Dr. Manoranjan Sharma, Chief Economist at Infomerics Ratings   India's Goods and Services Tax revenue collection for August 2024 stood at Rs. 1,74,962 crores, marking a 10% increase compared to Rs 1,59,069 crore collected in August 2023. When compared to July 2024, which had GST collections of Rs 1.65 lakh crore, the August figures may seem a monthly decrease in growth terms on both a year on year and sequential basis. But this w...
Quote on GST collection August 2024 by Dr. Manoranjan Sharma, Chief Economist at Infomerics Ratings
Quote on GST collection August 2024 by Dr. Manoranjan Sharma, Chief Economist at Infomerics Ratings
Source: Infomerics Ratings
2024-09-02 11:52:13 am
Nomura lowers its FY25 GDP forecast for India to 6.7% Nomura lowered its FY25 economic growth forecast for India to 6.7% year-on-year from 6.9% after official data on Friday showed the country's gross domestic product (GDP) grew slower than expected on an annual basis in the April-June quarter. India's GDP rose 6.7%, less than the 6.9% forecast by a Reuters poll and the 7.8% growth in the previous quarter, as a decline in government spending during national elections weighed. "Overall, Q2 GDP data are weaker than expected, alt...
Nomura lowers its FY25 GDP forecast for India to 6.7%
Nomura lowers its FY25 GDP forecast for India to 6.7%
Source: Accord Fintech
2024-09-02 11:51:53 am