Stock market benchmarks ended nearly 1 per cent higher on Wednesday, halting their eight days of decline, amid gains in Asian and European equity exchanges. The BSE Sensex advanced 448.96 points or 0.76 per cent to settle at 59,411.08 after a positive beginning. During the day, it jumped 513.33 points or 0.87 per cent to [...]
GST collections rose 12 per cent to over Rs 1.49 lakh crore in February, the finance ministry said on Wednesday. February 2023 witnessed the highest cess collection of Rs 11,931 crore since implementation of GST. The collections are, however, lower than the second highest Goods and Services Tax (GST) mop-up recorded in January at over [...]
Moody's Investors Service on Wednesday said the banking sector outlook remains stable and is supported by economic growth and improved financials. "While we expect the country's real GDP growth to moderate in the fiscal year ending March 2024 (fiscal 2024), India's underlying growth potential is fundamentally strong, which will support banks' credit growth and asset [...]
US President Joe Biden has announced his intent to appoint two prominent Indian-Americans corporate leaders, Punit Renjen and Rajesh Subramaniam, to his powerful Export Council which is the principal national advisory committee on international trade. The president on Tuesday announced a list of members he intends to appoint to the the council, according to a [...]
India's power consumption logged a year-on-year growth of over nine per cent to 117.84 billion units in February this year, according to government data. The robust growth of power consumption indicates sustained momentum of economic activities in February. Experts had earlier said that power consumption and demand would register a substantial increase in March due [...]
The Madhya Pradesh government on Wednesday presented a Rs 3.14 lakh crore state budget for 2023-24, even as the Opposition Congress staged a walkout from the Assembly on the issue of hike in the LPG cylinder price. Congress members including former ministers Tarun Bhanot, Vijay Laxmi Sadho and Jitu Patwari created ruckus in the House [...]
The Jammu and Kashmir administration has cleared decks for USD 100 million support by International Fund for Agricultural Development (IFAD) through implementation of “competitiveness improvement of Agriculture and Allied Sectors Project (JKCIP)”, an official spokesman said. Lt Governor Manoj Sinha gave a green signal to propose the JKCIP project to the Department of Economic Affairs [...]
Moody's Investors Service on Wednesday raised India's economic growth estimate for 2023 to 5.5 per cent from 4.8 per cent pegged earlier, on the back of a sharp increase in capital expenditure in the Budget and a resilient economic momentum. It however revised downwards India's growth estimate for 2022 to 6.8 per cent from 7 [...]
The record heat in February can lead to more rate hikes from RBI, a domestic rating agency said on Tuesday. The high temperatures will impact the wheat production, the rating agency said, adding that the surge in wheat prices contributed to over a tenth of the retail inflation in December and January, which is way [...]
Stock markets advanced in early trade on Wednesday amid gains in Asian equity exchanges and buying in IT counters. The BSE Sensex advanced 278.77 points to 59,240.89 after a positive beginning. The NSE Nifty climbed 83.4 points to 17,387.35. From the Sensex pack, Mahindra & Mahindra, Tata Steel, HCL Technologies, Axis Bank, Tata Consultancy Services, [...]
