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Govt cuts windfall tax on petroleum crude to Rs 5,700 per MT from May 16

Wed, 05/15/2024 - 14:17
The government on May 1 cut the windfall tax on petroleum crude to Rs 8,400 a metric ton from Rs 9,600

April exports drop to five-month low on geopolitical woes, shows data

Wed, 05/15/2024 - 12:29
Trade deficit widens to $19.1 bn as gold imports treble

NDA better on infra metrics than UPA tenure, says Nirmala Sitharaman

Wed, 05/15/2024 - 12:26
India saves Rs 4.8 trillion on logistics cost every year, said Sitharaman

Regulatory exemptions for government companies cover Sebi, MCA, CCI

Wed, 05/15/2024 - 12:15
The rules surrounding MPS requirements have differed for PSUs compared to their private sector counterparts

Urban jobless rate reaches a four-quarter high in Q4 of FY24: PLFS data

Wed, 05/15/2024 - 11:09
Previously, the jobless rate in urban areas has been steadily declining since the high of 12.6 per cent reported during the April-June quarter of FY22 during the peak of the pandemic

Centre plans to operationalise high speed corridors, award new projects

Wed, 05/15/2024 - 10:23
Highway ministry said it has deliberated on 100-day plan for new government

India-UK FTA: Work in progress to resolve issues, says commerce ministry

Wed, 05/15/2024 - 09:27
Senior officials of India and the UK held negotiations last month on the outstanding issues of the proposed free trade agreement (FTA) and the work is in progress to iron out the differences. According to the commerce ministry, the Indian team visited London from April 16-19 for negotiations. "The teams have made good progress and work is in progress in resolving pending issues. Chapter-wise textual negotiations are nearly closed and schedules on goods and services are at an advanced stage of negotiations," the ministry said. The ministry, however, did not disclose further details. So far, 13 rounds of talks have been completed. The 14th round started in January. There are 26 chapters in the agreement, including goods, services, investments, and intellectual property rights. The Indian industry is demanding greater access for its skilled professionals from sectors like IT and healthcare in the UK market, besides market access for several goods at nil customs duty. On the other h

Unemployment rate in urban areas dips to 6.7% in March quarter: Govt survey

Wed, 05/15/2024 - 09:13
The unemployment rate for people aged 15 years and above in urban areas declined to 6.7 per cent in the January-March period from 6.8 per cent a year ago, according to the National Sample Survey Survey (NSSO). Joblessness, or unemployment rate, is defined as the percentage of unemployed people in the labour force. The unemployment rate in the March quarter of FY23 was 6.8 per cent, while it was 6.6 per cent in April-June as well as in the third quarter (July-September 2023) of the previous fiscal. It was 6.5 per cent in October-December 2023. The unemployment rate for people aged 15 years and above in January-March 2024 was 6.7 per cent in urban areas, the 22nd Periodic Labour Force Survey (PLFS) showed. It also showed that the unemployment rate among females (aged 15 years and above) in urban areas declined to 8.5 per cent in January-March 2024 from 9.2 per cent in the same quarter a year ago. It was 9.1 per cent in April-June 2023, 8.6 per cent in July-September 2023, and 8.6 pe

Coal India, NMDC, ONGC to scout for critical mineral assets abroad

Wed, 05/15/2024 - 09:06
A Mines Ministry delegation is scheduled for Zambia in June. India is exploring joint exploration with Zambia for critical minerals, including lithium. A separate delegation will head to Congo

India's trade deficit widens to $19.1 billion in April: Commerce ministry

Wed, 05/15/2024 - 05:03
April trade data: India's exports rose to $34.99 billion, imports stood at $54.09 billion

Highway Ministry hits 20% of capital expenditure target in April 2024

Tue, 05/14/2024 - 13:49
Ministry has created 100-day plan for new government, highway min says

Chatroom: CBIC's clarificatory circulars have retrospective effect

Tue, 05/14/2024 - 12:48
TNC Rajagopalan answers SME queries related to GST, export and import matters

India's GDP to expand at 6.6% in FY25; will fuel NBFCs' growth: Moody's

Tue, 05/14/2024 - 11:22
Moody's Ratings on Tuesday said the Indian economy is projected to expand 6.6 per cent in the current fiscal year and said strong credit demand fuelled by robust economic growth will support the NBFC sector's profitability. "We expect India's economy to expand 6.6 per cent in the year ended March 2025 (FY25) and 6.2 per cent the following year, and this will lead to robust loan growth at NBFCs, mitigating the impact of rising funding costs on their profitability," Moody's Ratings said. The Indian economy is estimated to have expanded 8 per cent in the 2023-24 fiscal year. In a commentary on the non-banking finance companies, Moody's said robust economic conditions will help them preserve their asset quality even as rise in interest rates increase the debt burdens of their customers. "Funding costs for non-bank finance companies (NBFCs) in India are rising, but strong credit demand fuelled by country's robust economic growth will support the sector's profitability. "Also, robust ..

More governance and less of govt in Modi's third term: FM Sitharaman

Tue, 05/14/2024 - 08:01
FM Nirmala Sitharaman was addressing a session titled 'Viksit Bharat 2047 - Vision for Indian Financial Markets,' organised by the BSE stock exchange at the BSE International Convention in Mumbai

Food inflation likely to remain cause for concern due to heatwave: ICRA

Tue, 05/14/2024 - 08:00
The wholesale food inflation, which is at a four-month high, will continue to be a cause for concern in May and June as heatwave is likely to jack up prices of perishable commodities, ICRA Chief Economist Aditi Nayar said on Tuesday. Although the impact of high base of last year will play out in July and August, the impact of monsoon will determine the price conditions in the subsequent months. As per data released on Tuesday, the wholesale price index (WPI)-based food inflation was at a four-month high of 7.74 per cent in April. Retail food inflation also remained stubbornly high at 8.70 per cent in April 2024, as against 3.84 per cent in April 2023. Nayar said weather is an important factor in determining the food inflation trajectory. Monsoon was not very favourable last year and this year there are heatwaves in parts of the country, she said. "With the onset of summer, prices of perishable items are charting upwards. For the next two months, we expect the food inflation to cli

Despite 3-year low, project delays remain higher than pre-pandemic levels

Tue, 05/14/2024 - 07:11
Railways have incurred the highest cost overrun

Spike in food & fuel prices push WPI inflation to 13-month high in April

Tue, 05/14/2024 - 05:46
Data released by govt on Tuesday showed that uptick in factory gate inflation during April was driven primarily by the spike in the prices of food articles and fuel, among other things

India's WPI-based inflation reaches 13-month high of 1.26% in April

Tue, 05/14/2024 - 03:02
April 2024 WPI: Prices of crude petroleum & natural gas and food articles witnessed a surge in April 2024 compared to March 2024, while prices of non-food articles and minerals saw a decline

EPFO introduces auto claim settlement for education, marriage, housing

Mon, 05/13/2024 - 14:35
Auto mode of claim settlement was introduced in April, 2020 for the purpose of advance for illness

Timeline: 21-year long effort by India to set up port in Chabahar

Mon, 05/13/2024 - 14:21
Monday's agreement is expected to finally realise efforts by India to gain a strategic foothold in the region