The government transferred the amount to states as tax devolution for financing various social welfare measures and infrastructure development schemes

Cost overrun maximum for transport sector

Gold investors anticipate record-high prices next year, when the fundamentals of a dovish pivot in U.S. interest rates are expected to support the market

Natural gas consumption to rise 10-15% this financial year, driven by CGD

A series of mega-events are slated in the coming months to elevate India's position as a global economic powerhouse, Commerce and Industry Minister Piyush Goyal has said. The planned lineup of mega events commences with the Aatmanirbhar Bharat Utsav scheduled from January 3-10 at Bharat Mandapam in the national capital. This event aims to exhibit a rich array of offerings -- including products from artisans, weavers, khadi, tribal crafts, MSMEs (Micro, Small and Medium Enterprises), and cottage industries -- and provide a direct interface between producers and consumers. Following this, the 'Indus Food' exhibition will be held at India Exposition Mart, Greater Noida, from January 8-10. The Bharat Mobility Global Expo 2024 will take place on February 1-3 at Bharat Mandapam. "Covering a sprawling 10 lakh square feet, this extensive mobility exposition will feature stakeholders across the automobile and mobility sector, showcasing their strengths and innovations. The expo will highli

Retail inflation for industrial workers increased marginally to 4.98 per cent in November compared to 4.45 per cent in October this year, mainly due to higher prices of certain food items. Food inflation stood at 7.95 per cent against 6.27 per cent in the previous month (October 2023) and 4.30 per cent during the corresponding month (November 2022) a year ago, a labour ministry statement said. According to the statement, year-on-year inflation for the month stood at 4.98 per cent in November compared to 4.45 per cent for the previous month (October 2023) and 5.41 per cent during the corresponding month (November 2022) a year before. The All-India CPI-IW (Consumer Price Index for Industrial Workers) for November 2023 increased by 0.7 points and stood at 139.1 points. The CPI-IW was 138.4 points in October 2023. On one-month percentage change, it increased by 0.51 per cent with respect to the previous month, whereas it remained stationary between the corresponding month a year ago,

The total reserves in the recent week increased due to the $4.6 billion rise in foreign currency assets

Madan Sabnavis, chief economist at Bank of Baroda, said core sector growth in November showed steady growth and the slight moderation had been due to base effects

The income tax department on Friday said over 8 crore ITRs have been filed for assessment year 2023-24 till date. "Unique landmark for the Income-tax Department! Over 8 crore ITRs filed for the AY 2023-24 till date," the income tax department said in a post on X. The total filing for AY 2022-23 was 7,51,60,817.

The Government, CGA data indicates, is moving towards fiscal consolidation, with improved tax collections compared to the April-October period and compressed capital expenditure

In the previous reporting week, the kitty had swollen by $9.112 billion to $615.971 billion, making the quantum of increase one of the highest in a week

The FinMin report also highlighted that the relatively stable Indian rupee against the US dollar and other prominent currencies, and adequate foreign exchange reserves, add to the optimism

Issues like duty concessions on scotch whisky and electric vehicle (EV) and matters concerning the services sector, including mobility of skilled workers, may figure in the next round of proposed FTA talks between India and the UK in January, an official has said. The official also said that both sides have resolved most of the issues in the rules of origin and intellectual property rights (IPRs) chapters. There are 26 chapters in the agreement, including goods, services, investments and intellectual property rights. Though the negotiations between the two countries have reached their last leg, both sides have yet to resolve differences on major issues like British demand for significant customs duty concessions on scotch whisky, and EVs and liberalisation of norms in services sectors like banking, insurance, legal, and Indian demand for easy movement of professionals, the official added. The two countries have concluded 13 rounds of talks, and the next round is scheduled in Januar

The WALR on outstanding rupee loans of SCBs was at 9.80 per cent in November 2023 as against 9.84 per cent in October 2023 and 9.83 per cent in September

Union minister Nitin Gadkari said the government has sanctioned Rs 1,170.16 crore for 29 roads projects in Ladakh. In a post on social media platform X, Gadkari said Rs 1,170.16 crore has been sanctioned for 29 roads projects, encompassing state highway and other major roads in the Union Territory. Additionally, Rs 181.71 crore has been allocated for 8 bridges under the Central Road and Infrastructure Fund (CRIF) scheme for the fiscal year 2023 24, the road transport and highways minister said. He said Ladakh, the largest Union Territory in terms of area and the second least populous in the country, will witness improved connectivity to its remote villages through the approved initiatives. The enhancement in road connectivity is expected to stimulate economic activities, particularly in agriculture and tourism, contributing to the overall infrastructural development of Ladakh, he added.

Earlier this month, finance minister for state Bhagwat Karad said that the Centre was confident of meeting the fiscal deficit target of 5.9% in FY24

The rupee paired all its early gains to end on a flat note at 83.20 (provisional) against the US dollar amid increased month-end dollar demand from importers and volatile crude oil prices. At the interbank foreign exchange, the domestic currency opened at 83.14, touched the peak of 83.10 and hit the lowest level of 83.22 against the greenback during intra-day deals. The local unit closed the session at Thursday's closing level of 83.20 (provisional) against the dollar. The domestic currency jumped 14 paise on Thursday. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.13 per cent at 101.36 on Friday. Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, said the US dollar recovered slightly on short coverings but declined again on expectations of interest rate cuts by the US Federal Reserve. The rupee is likely to trade with a slight positive bias on the weak tone of the US dollar and declining crude oil pric

The new purchase price of 56.28 rupees per litre is aimed at boosting production of ethanol, which is used for blending with petrol