The central government is on track to meet its fiscal deficit target of 6.4 per cent of the GDP for 2022-23 on the back of strong growth in revenue collections, the World Bank said in its India Development Update on Tuesday. High nominal GDP growth in the first quarter supported strong growth in revenue collection, [...]
The global airline industry is projected to report a lower loss at USD 6.9 billion in 2022, mainly due to stronger passenger yields and cost control by carriers amid rising fuel prices, according to industry body IATA. In June, the International Air Transport Association (IATA) projected the industry loss at USD 9.7 billion. In October [...]
The government on Friday said it has almost doubled the fees for IP facilitators under startups intellectual property protection (SIPP) scheme. The commerce and industry ministry said that the revised scheme is applicable from November 2. "To further encourage IP facilitators to provide quality services to startups in order to increase the number of IP [...]
The country's coal production increased 17 per cent to 524.20 million tonnes in the April-November period of the ongoing fiscal. India's coal output was at 447.54 million tonnes in the year-ago period. In a bid to augment coal production capacity, the government has put 141 new coal blocks for commercial mines auction and has been [...]
Tata Power CEO and MD Praveer Sinha announced a Rs 6,000 crore capital investment by the company in Odisha. Speaking at the Make in Odisha Conclave here on Thursday, Sinha said the four power discoms of Odisha, where Tata Power has a majority stake, are committed to Rs 6,000 crore capex investment in the next [...]
GST revenues rose by 11 per cent to about Rs 1.46 lakh crore in November over the year-ago period, the Finance Ministry said on Thursday. This is the ninth straight month when collections from Goods and Services Tax (GST) has remained above Rs 1.40 lakh crore. The gross GST revenue collected in the month of [...]
India's economic growth slowed to 6.3 per cent in the September quarter of 2022-23 compared to 13.5 per cent in the preceeding three months mainly on account of contraction in output of manufacturing and mining sectors, according to government data released on Wednesday. Slower GDP expansion nothwithstanding, India continues to remain the fastest-growing major economy [...]
Most rated companies in India can withstand a weaker rupee, although external factors like rising interest rates in developed economies and higher energy prices would increase currency volatility, Moody's Investors Service said on Tuesday. In a commentary on non-financial companies in India, Moody's said on November 25, the Indian rupee touched 81.67 versus the US [...]
The government on Tuesday lifted the ban on exports of organic non-basmati rice, including broken rice after the easing of domestic supplies moderated prices. The government had, in early September, banned the export of broken rice with an aim to increase domestic availability. This followed a 20 per cent duty on the export of non-basmati [...]
The rupee appreciated 8 paise to 81.60 against the US dollar in early trade on Tuesday as foreign capital inflows and a firm trend in the domestic equity market boosted investor sentiments. Besides, a weak American currency in the overseas market helped the local unit, forex dealers said. At the interbank foreign exchange, the domestic [...]
