Latest Indian Economy News

Even as there is an ongoing global turmoil, hiring intentions in services and manufacturing sectors for the first quarter of 2023-24 are 10 per cent more than the year-ago period, a report said on Tuesday. According to the TeamLease Services' 'Employment Outlook Report' for the Services and Manufacturing sectors for Q1, FY24, despite the ongoing [...]

Sanjay Chamria, a former official of Poonawalla Fincorp Ltd, has settled with markets regulator Sebi a case pertaining to alleged manipulative trade practice after paying Rs 42.2 lakh towards settlement charge. Chamria, who was the executive vice chairman of Poonawalla Fincorp Ltd (PFL), proposed to settle the pending proceedings, "without admitting or denying the findings" [...]

The wheat export ban will continue as long as India does not feel comfortable in domestic supplies, Food Corporation of India chief Ashok K Meena on Tuesday. Wheat production will not be affected due to recent rains, confident of achieving the output target, he added. Wheat procurement has started across the country, and 10,727 tonnes [...]

Shares of all the ten listed firms of the Adani group ended lower for the second day in a row on Tuesday, with Adani Enterprises tumbling 7 per cent. The stock of Adani Enterprises tanked 7.06 per cent, the most among the group firms on BSE. Shares of Adani Ports slumped 5.66 per cent, Adani [...]

The issue of implementation of OBC reservation in all-India quota seats of state agricultural universities is under examination, Union Agriculture Minister Narendra Singh Tomar said on Tuesday. In a written reply to Lok Sabha, Tomar said: "The issue of implementation of OBC reservation in All India Quota (AIQ) Seats of State Agricultural Universities is under [...]

The Jammu and Kashmir administration is all set to launch a technology-driven agriculture apex monitoring dashboard (AAMD) that will offer a one-stop solution to farmers and agri-startups for registration, monitoring and funding of various projects. A roadmap for the AAM dashboard in J&K is aimed at governing the 29 projects that were approved by the [...]

The 6.5 km Z-Morh tunnel on the Srinagar-Leh highway will be inaugurated next month while work on Asia's longest tunnel at Zojila is likely to be completed in 2024, Union Minister Nitin Gadkari said on Tuesday. Addressing Assocham's Annual Day 2023, Gadkari further said that his ministry is also building 9 tunnels between Jammu and [...]

Union Home Minister Amit Shah on Tuesday said Jammu and Kashmir's policies and law and order situation are worthy of making investment and asked industrialists to pay attention to it. Addressing an event organised by industry-body Assocham here, he said right policies of Prime Minister Narendra Modi have taken the country forward on the path [...]

The government on Tuesday extended the deadline for linking PAN and Aadhaar by three months to June 30, 2023, to provide some more time to taxpayers, an official statement said. The earlier deadline was ending on March 31. Persons can intimate their Aadhaar to the prescribed authority for Aadhaar-PAN linking without facing repercussions, it added. [...]

The government on Tuesday said it is too early to predict any damage to the wheat crop due to heat stress in February. In a written reply to Lok Sabha, Union Agriculture Minister Narendra Singh Tomar said, "In the month of February 2023, though the maximum temperature was hovering around 32-33°C in most of the [...]

Benchmark equity indices Sensex and Nifty ended marginally lower in highly volatile trade on Tuesday as losses in IT and auto stocks were largely offset by gains in banking and oil shares amid mixed global trends. The 30-share BSE Sensex ended 40.14 points or 0.07 per cent lower at 57,613.72 as 19 of its stocks [...]

India and China will contribute to half of the world's growth this year, China's top think tank said on Tuesday, highlighting that Asia will remain a crucial growth engine with an estimated 4.5 per cent GDP expansion, making it a "standout performer" amidst the global economic slowdown. The Boao Forum for Asia (BFA), Beijing’s prominent [...]

The telecom industry's financial health needs to improve if India's dream of digital connectivity across the country has to be fulfilled, Bharti Enterprises Vice-Chairman Akhil Gupta said on Tuesday. Very poor return on capital is a big hindrance in telecom development in India today and unless it changes, investments will dry up at some point [...]

Housing prices rose 8-10 per cent in this fiscal year and may further increase by 5 per cent in 2023-24, India Ratings and Research (Ind-Ra) said on Tuesday. The rating agency has revised the outlook on the residential real estate sector to neutral from improving for FY24. "The residential real estate market continued its upward [...]

Capital markets regulator Sebi on Tuesday extended the deadline till September-end for existing trading and demat account holders to provide choice of nomination or opt out of nomination. Earlier the deadline was March 31, 2023. In July 2021, the Securities and Exchange Board of India (Sebi) asked all existing eligible trading and demat account holders [...]

Sri Lanka would seek a new temporary credit facility of USD 1 billion from India to purchase essential items including food and medicine, the official media here reported on Monday. Sri Lanka received 333 million dollars, the first tranche of the USD 3 billion International Monetary Fund (IMF) bailout programme last week to overcome its [...]

Finance minister Nirmala Sitharaman on Monday informed the Lok Sabha that 54 FDI proposals with investor/beneficial owner from China and Hong Kong are pending for decision with the government. In April 2020, the government had amended the FDI policy in order to curb opportunistic takeovers/acquisitions of Indian companies due to the COVID-19 pandemic. As per [...]

Tata Cleantech Capital, the green funding arm of Tata Capital, on Monday said its equity partner International Finance Corporation has picked up its sustainability-linked bonds worth USD 50 million or about Rs 375 crore. The bonds are the first in the country by a private financial institution, and the money will help Tata Cleantech Capital [...]

The Himachal Pradesh government on Monday signed a memorandum of understanding with HLC Green Energy to make it the 'First Green State' by 2025, Chief Minister Sukhvinder Singh Sukhu said. The project will bring in an investment of more than Rs 4,000 crore, besides generating direct and indirect employment opportunities for about 2,500 persons. It [...]

Markets regulator Sebi on Monday simplified the procedural requirements for onboarding of Foreign Portfolio Investors (FPIs) in a bid to facilitate ease of doing business and to reduce the time taken for their registration. The regulator allowed designated depository participants (DDPs) to grant FPI registration on the basis of scanned copies of application forms and [...]