Benchmark Sensex and Nifty rebounded nearly 1 per cent at close on Tuesday amid firm trends in global equities and buying in index major Reliance Industries and banking stocks. The 30-share BSE Sensex climbed 445.73 points or 0.77 per cent to settle at 58,074.68. During the day, it rallied 504.38 points or 0.87 per cent [...]
Airports at major metro cities are expected to have a total passenger handling capacity of 500 million in the coming years, Civil Aviation Secretary Rajiv Bansal said on Tuesday. "We have all ingredients in place... huge demand in domestic and international (sectors)," Bansal said as he highlighted the growth potential of the country's aviation sector. [...]
The government has hiked the windfall profit tax on export of diesel to Re 1 per litre while the levy on domestically produced crude oil has been cut by a fifth, according to an official order. The levy on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) has been reduced [...]
Indian economy is expected to grow at 7 per cent in FY23 despite global headwinds while retail inflation would moderate in line with wholesale inflation which fell to a 25-month low in January, the Finance Ministry said on Monday. Supported by the gains from high services exports, the moderation in oil prices, and the recent [...]
The rate of unemployment in India has been registering a downward trend for the last three years, Parliament was informed on Monday. As per the latest available annual PLFS reports, the estimated unemployment rate (UR) on usual status for persons of age 15 years and above was 4.8 per cent, 4.2 per cent and 4.1 [...]
The International Monetary Fund on Monday approved USD 3 billion in financial assistance to debt-ridden Sri Lanka to help it immediately overcome its economic crisis. IMF’s Executive Board approved on Monday a 48-month extended arrangement under its Extended Fund Facility (EFF) with an amount of SDR 2.286 billion (395 per cent of quota or about [...]
The Gujarat government on Monday announced in the state Assembly that minimum wages given to skilled, semi-skilled and unskilled labourers have been increased by nearly 25 per cent -- up to more than Rs 2,400 per month -- a hike coming after a gap of nine years. The announcement about the increase in minimum wages, [...]
The income tax department raised tax demands amounting to Rs 13,566 crore during the last four financial years under the black money law to deal with undisclosed foreign income and assets, the government told Parliament on Monday. In a written reply to a question in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary [...]
Union Power Minister R K Singh on Monday urged electricity consumers to use smart prepaid meters, saying the device helps users bring down power cost by up to 2 per cent. Installation of smart prepaid meters reduces the operational and finance cost for electricity suppliers as consumers credit their account in advance, the minister said [...]
The Finance Ministry has asked central public sector undertakings (CPSUs) to issue letters of comfort (LoCs) on the basis of their own financial strength so that no liability devolves on the Government of India. The Office Memorandum dated March 20, 2023, has been issued following a request from some CPSUs in the oil and power [...]
