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Updated: 15 min 8 sec ago

MotoGP event saw 100,000 visitors, business worth Rs 933 crore: UP govt

6 hours 6 min ago
The Uttar Pradesh government Tuesday said the first ever MotoGP event held in Greater Noida saw a footfall of more than one lakh people from India and around the world whilst registering business of over Rs 930 crore. The high-pulsating event was held from September 22 to 24. Chief Minister Yogi Adityanath along with several central and state ministers, and celebrities, including film stars and cricketers, witnessed the main race on Sunday. "The high-end preparations including hospitality, security arrangements, connectivity at MotoGP Bharat resulted in gathering of more than one lakh people from India and around the world at the Buddh International Circuit in Greater Noida for the much-anticipated event hosted by India for the first time," the Uttar Pradesh government said. "The event also did a record business of Rs 933,76,46,000 (Euro 106 million)," it said in a statement. During the MotoGP, Moto 2, and Moto 3 races held at the Buddh International Circuit, 82 riders from 41 team

Gross market borrowing for H2 to be Rs 6.55 trn, 50-yr bond to be issued

6 hours 52 min ago
The government on Tuesday said it will borrow Rs 6.55 lakh crore in the second half of 2023-24 through dated securities, including Rs 20,000 crore through issuance of Sovereign Green Bonds (SGrBs). The government meets its fiscal deficit mainly through market borrowings. The government had projected gross market borrowing of Rs 15.43 lakh crore for 2023-24. "...the Government of India has decided to borrow the balance amount of Rs 6.55 lakh crore (42.45 per cent of Rs 15.43 lakh crore) in the second half of the fiscal year 2023-24 through dated securities, including Rs 20,000 crore through issuance of Sovereign Green Bonds (SGrBs)," the finance ministry said in a statement. "Responding to market demand for longer duration securities, 50-year security will be issued for the first time," it added. The gross market borrowing of Rs 6.55 lakh crore will be completed through 20 weekly auctions. The market borrowing will be spread over 3, 5, 7, 10, 14, 30, 40 and 50-year securities. The

OPEC's share of India's August crude oil imports at five month high

7 hours 58 min ago
This surge was attributed to Indian refiners reducing their purchases of Russian oil due to elevated prices and maintenance outages at some facilities, as indicated by tanker data from various sources

Centre extends RoDTEP scheme till June 30 amid faltering exports

8 hours 20 min ago
The scheme has now been extended until 30 June at the same rates for the existing export items

Centre targets 114 million tonnes of wheat output next rabi season

8 hours 52 min ago
Sowing of wheat, the main rabi (winter) crop, begins in October, while harvesting starts in March and April

Rajnath calls for collective efforts to address Indo-Pacific complexities

8 hours 57 min ago
Rajnath Singh postulated that Indo-Pacific is no longer a maritime construct, but a full-fledged geo-strategic construct that faces complex security challenges, including boundary disputes and piracy

IIT Guwahati develops fabric to tackle oil spills in water bodies

10 hours 22 min ago
Researchers at IIT-Guwahati on Tuesday said they have developed a fabric that can separate oil from water, which will help in tackling marine pollution caused by oil spills. The silica nanoparticles-coated cotton fabric has been developed using rice husk, an agricultural waste, as the primary source material, said Vaibhav Goud, a professor in the IIT-Guwahati's Department of Chemical Engineering. The aim is to convert an agricultural waste into a sustainable value-added product to mitigate marine oil pollution, he said. Oil spills due to industrial discharge or mishap cause irreversible damage to the aquatic ecosystems. Conventional cleaning techniques such as skimming or in-situ burning are ineffective, costly and cause additional pollution, said Goud, who authoured a paper on the research along with Sutapa Das. "Our technology has multiple beneficial effects on the environment. Rice husk is an agricultural byproduct, rich in silica that is generated in millions of tons every year

IndusInd Bank announces global association with ICC ahead of World Cup 2023

10 hours 30 min ago
IndusInd Bank said that the partnership aims at driving activities and promotions for the banks' customers, employees and cricket fans

India's export of cut, polished diamonds may fall by 22% in FY24: ICRA

11 hours 9 min ago
India's export of cut and polished diamonds is projected to decline by 22 per cent to USD 17.2 billion in the current fiscal due to weakened demand from the key consuming nations, according to rating agency Icra. In the first five months of the current fiscal, cut and polished diamond exports witnessed a sharp year-on-year decline of 31 per cent following lower export volumes and higher polished diamond prices, it said. Export of cut and polished diamonds has been on a declining trend since the first half of 2022-23, it added. "The export contraction is primarily being driven by weak underlying demand conditions in key consuming nations like the US and Europe due to the inflationary pressures, leading to a shift in spending away from diamonds," Icra Vice President and Sector Head Sakshi Suneja said in a statement. The demand from China, which accounts for 10-15 per cent of the global demand, has also not picked up meaningfully so far, she said. In addition, competition from lab-gr

Oil prices fall as high-interest rate outlook outweighs tight supply

12 hours 25 min ago
Meanwhile, the U.S. dollar hit a 10-month high on Tuesday, as higher bond yields attracted investors towards the greenback

US yields hit 2007 levels as Fed signals, shutdown fears stoke angst

12 hours 50 min ago
Euro zone bond yields also held near multi-year highs as the narrative that central banks will keep rates higher for longer held sway

Govt launches Rs 5K cr scheme to boost innovation in pharma-medtech sector

13 hours 8 min ago
The PRIP scheme has two main components - the first one would focus on infrastructure building

Learn local language to serve better: FM Sitharaman at Rozgar Mela

13 hours 19 min ago
Candidates getting selected for jobs and deployed in other states as per the job profile should learn the local language to be able to provide better services, Union Finance and Corporate Affairs Minister Nirmala Sitharaman said here on Tuesday. Sitharaman, after handing over orders to successful candidates at the Rozgar Mela, encouraged more candidates to apply for jobs in public sector undertakings located in Tamil Nadu. Referring to the Centre's Rozgar Mela, Sitharaman said the government has been holding it since October 2022 and about 10 lakh people have received job offers so far. "Today 51,000 appointment orders are being given across the country by Prime Minister (Narendra Modi) virtually. I was told 553 people are getting job offers from Tamil Nadu," she said. Speaking of improving the delivery of services to be rendered by the candidates post their selection at a public sector undertaking or bank, Sitharaman said, "If a job offer is given to a candidate who will be servin

India growing amid decelerating global growth: Triveni Turbine MD

15 hours 12 min ago
India is registering growth amid a decelerating global economy, and the country is on the cusp of achieving a "psychologically important" USD 5 trillion mark, industrialist Nikhil Sawhney said on Tuesday. The government has set an ambitious target to make India a USD 5 trillion economy in the coming years. Addressing business leaders here at a session of All India Management Association (AIMA), Triveni Turbine's Vice Chairman and Managing Director Sawhney said, this is India's century and the numbers point towards a great future for India. The country has over a billion consumer base and a strong workforce. India is already the fifth-largest economy in the world and it is set to become the third-largest soon. "India's GDP is nearing USD 4 trillion and it is on the cusp of achieving a psychologically important USD 5 trillion mark. India's digital economy is on the steroids and is set to grow to USD 1 trillion by 2026," he said. At a time when the global economic growth is decelerat

52nd meeting of GST Council to be held on October 7 at Vigyan Bhawan

15 hours 14 min ago
The GST Council, chaired by Union finance minister and comprising state ministers, will meet on October 7. "The 52nd meeting of the GST Council will be held on 7th October, 2023 at Vigyan Bhawan , New Delhi," the GST Council said in a post on X. In the previous meeting on August 2, the council had approved amendments to the Goods and Services Tax (GST) laws to provide clarity on the taxation of casinos, horse racing and online gaming. A 28 per Cent GST is levied on full face value of bets in the three supplies.

CBDT extends safe harbour option to convertible preference shares

15 hours 29 min ago
Move will help startups and encourage foreign investment, say experts

DGGI serves Rs 55k crore tax notices to gaming firms, biggest to Dream11

18 hours 49 min ago
The pre-show cause notices are being issued after the GST rates for real money games increased to 28 per cent on the total bet placed at the entry-level

Centre to cut floor price for basmati rice exports in coming days: Report

Mon, 09/25/2023 - 22:12
India will lower the basmati floor price to $850 a metric ton, down from $1,200 a ton, to help millers and traders ship out the rice grade, said the report

Rs 27k cr from Rs 47k cr raised paid as interest on previous loans: Punjab

Mon, 09/25/2023 - 13:19
With the opposition targeting the AAP government in Punjab over the state's debt, its finance minister Harpal Singh Cheema on Monday said that Rs 27,000 crore from around Rs 47,000 raised in the last 18 months has been paid as interest on the borrowings under previous governments. He accused the Congress, BJP and the Shiromani Akali Dal of spreading false propaganda against the AAP government after the opposition parties accused the Bhagwant Mann dispensation of pushing the state to the brink of financial calamity with an addition of Rs 50,000 crore more debt since it came to power last year. The opposition parties had latched onto the issue to target the Mann government after Punjab Governor Banwarilal Purohit in his letter to the CM said that he had learnt that the debt of Punjab rose by about Rs 50,000 crore during your regime. On Monday, state Finance Minister and senior Aam Aadmi Party leader Cheema also appealed to the Punjab governor to help the state government in getting ..

Centre likely to lower basmati MEP, tightens stock limits on tur and urad

Mon, 09/25/2023 - 10:10
Food Min Piyush Goyal is believed to have held a high-level meeting with exporters and others to understand the ground situation, though there has been no official confirmation of any such meeting