India on Wednesday invited global defence and aerospace companies to set up manufacturing units in the country taking advantage of various initiatives taken by the government in the field.
Growth in India's dominant services sector picked up in January as demand improved and consumer optimism was buoyed by the start of a huge Covid-19 vaccination drive, although firms continued to shed jobs, a private survey showed on Wednesday.
Microsoft said on Wednesday it supports Australia's plans to make the biggest digital platforms pay for news and would help small businesses transfer their advertising to Bing if Google quits the country.
Future Group will challenge Delhi high court order that has blocked its $3.4 billion (nearly Rs 25,000 crore) retail assets sale on objections of business partner Amazon.com Inc, a source told Reuters on Wednesday.
Equity indices on Wednesday hit fresh record intraday highs in a highly volatile trade. The benchmark BSE sensex jumped over 400 points to hit an all-time high of 50,231; while the broader NSE Nifty traded above the 14,750-mark.
Holding on to 15-year-old vehicles will become an expensive affair once the voluntary vehicle scrapping policy is rolled out from next year. While the cost for getting a fitness certificate for such commercial vehicles will go up by up to 62 times, the fee for renewal of registration of private vehicles will increase by up to eight times.
Jassy, who joined Amazon after graduating from Harvard Business School, worked as a technical assistant for Bezos in the early 2000s and was instrumental in leading the company's push outside of book sales.
Increased sharing of info between different arms of the govt and banks has made hiding income or evading tax an increasingly difficult task, finance secretary Ajay Bhushan Pandey tells TOI’s Sidhartha, Rajeev Deshpande and Surojit Gupta.
Amazon.com Inc founder Jeff Bezos is stepping down as chief executive of the tech company he founded but said the move "isn't about retiring". In a note to employees, Bezos said he will stay engaged in Amazon as executive chair, while focusing on other projects.
Amazon said Tuesday that Jeff Bezos is stepping down as CEO later this year, a role he's had since he founded the company nearly 30 years ago. Amazon said he'll be replaced in the fall by Andy Jassy, who runs Amazon's cloud business. Bezos will then become the company's executive chairman.
In a relief to Amazon, the Delhi high court on Tuesday said it is of the "clear view" that the emergency award (EA) by the Singapore International Arbitration Centre (SIAC) is enforceable in India.
A court blocked Future Group's sale of a swathe of assets to rival Reliance Industries on Tuesday after Amazon raised objections to the $3.4 billion deal, in a battle of the retail titans that could reshape the shopping sector.
The Supreme Court on Tuesday directed Franklin Templeton Mutual Fund to pay Rs 9,122 cr among unitholders of six mutual fund schemes that were shut down by the company abruptly. SC asked the amount be disbursed among the unit holders in proportion to the respective interests in the assets of the scheme. SBI Mutual Fund has been directed to carry out the exercise of disbursement.
The government has eliminated subsidy on poor man's fuel kerosene through small fortnightly price increases and the fuel sold through the public distribution system (PDS) is now priced at market rates.
Investor wealth zoomed over Rs 10.48 lakh crore in two days as budget-driven market euphoria continued to charge bulls on Tuesday.The BSE benchmark jumped 1,197.11 points or 2.46 per cent to close at 49,797.72 on Tuesday. During the day, it zoomed 1,553.87 points to 50,154.48.
The country's exports grew 5.37 per cent year-on-year to $27.24 billion in January 2021, mainly driven by healthy growth in pharma and engineering sectors, according to provisional data of the commerce ministry. Trade deficit during the month narrowed to $14.75 billion from $15.3 billion in January 2020. It was $15.44 billion in December 2020.
Equity indices surged higher on Tuesday with the benchmark BSE sensex rising nearly 1,200 points as investors gave a big thumbs-up to finance minister Nirmala Sitharaman's Union Budget proposals. The 30-share BSE sensex rose 1,197 points or 2.46 per cent to close at record peak of 49,798; while the broader NSE Nifty settled 367 points or 2.57 per cent higher at 14,648.
Non-performing assets (NPAs) or bad loans of the banking sector came down from a high of Rs 10.36 lakh crore at the end of March 2018 to Rs 8.08 lakh crore at the end of September 2020 due to various initiative of the government, minister of state for finance Anurag Thakur informed the Rajya Sabha on Tuesday.
State-owned Indian Oil Corporation (IOC) is likely to sell stakes in one or two of its vast network of crude oil and petroleum product pipelines in the country under the asset-monetisation plan, but won't give up control, its director (finance) Sandeep Kumar Gupta said Tuesday.
With his social media prognostications about Bitcoin or GameStop, Elon Musk has been venturing further away from his own businesses and becoming more like a Wall Street heavyweight who can move markets with just a few words.
Wider fiscal deficits and a more gradual pace of consolidation will lift the Indian government's debt and pressure its sovereign ratings, Fitch Ratings said, cautioning that the fiscal firepower is limited due to a high debt ratio.
Providing a boost the housing sector, finance minister Nirmala Sitharaman on Monday proposed to give a tax holiday for more than one year till March 2022. She also proposed to extend exemption available for purchase of affordable housing.
Applauding the annual budgetary presentation by finance minister Nirmala Sitharaman, the US-India Strategic and Partnership Forum (USISPF) described it on Monday as bold and visionary, which would launch India's economy into a growth trajectory.
Investors became richer by over Rs 6.34 lakh crore on Monday as markets gave a big shout-out to the budget 2021-22, which analysts termed as 'unprecedented' against the backdrop of the pandemic-induced slowdown.
Finance minister Nirmala Sitharaman on Monday said that the Union Budget 2021 comprises two important features, namely increased spending in infrastructure and healthcare sectors.
This was probably the toughest budget yet for Prime Minister Narendra Modi, as his government navigates the twin challenges of steering the $2.7-trillion Indian economy out of an unprecedented recession while ensuring more resources to fight the century’s worst pandemic.
The Agriculture Infrastructure and Development Cess (AIDC) was proposed on a small number of items. It will be imposed from Tuesday on customs duty levied on bullion, alcoholic beverages, coal and agri products ranging from apple to lentil.
Shares of companies related to the insurance sector jumped up to 12 per cent on Monday after the government proposed to increase foreign direct investment (FDI) limit in the insurance sector to 74 per cent.
Finance minister Nirmala Sitharaman on Monday presented the Union Budget 2021-22. This year's budget brought no change in income tax (I-T) slabs but gave a big boost to healthcare and infrastructure sectors.
Equity indices started on a positive note with the benchmark BSE sensex rising 400 points. The 30-share BSE index jumped 407 points or 0.88 per cent to 46,692 in opening trade; while the broader NSE Nifty moved 124 points or 0.91 per cent higher to 13,759.
The government on Monday pegged the fiscal deficit for the year 2020-21 at 9.5 per cent of the gross domestic product (GDP).While presenting the Union Budget for the year 2021, finance minister Nirmala Sitharaman said that the Covid-19 pandemic resulted in weak revenue inflow for the government during the year.
Finance minister Nirmala Sitharaman began her Union Budget 2021-22 presentation on Monday in the Lok Sabha. In her speech, the finance minister mentioned that this year's budget proposals rest on six pillars.
Union finance minister Nirmala Sitharaman presented the Union Budget 2021 in Parliament on Monday. On Friday, the finance minister tabled the Economic Survey in Parliament. The Survey said that the economy can contract by 7.7% in the current financial year ending on March 31 and the growth could be 11% in the next financial year.
Finance minister Nirmala Sitharaman on Monday said the government's Aatmanirbhar packages totalling Rs 27.1 lakh crore to deal with the Covid pandemic, accelerated the pace of structural reforms. In the first ever paperless Union Budget, Sitharaman also proposed the introduction of Aatmanirbhar health programme with an outlay of Rs 64,180 crore.
Finance minister Nirmala Sitharaman presented the Union Budget 2021 in Parliament on Monday. Stating that the budget was prepared under circumstances "never seen before" due to the Covid-19 pandemic, Sitharaman quoted Rabindranath Tagore in her speech.
India's factory activity expanded at its strongest pace in three months in January, fuelled by a continued recovery in demand and output, according to a private survey which also showed firms cut jobs at the slowest pace in 10 months.
The high-altitude, twin-engine aircraft, capable of playing multiple roles from signal intelligence to cross-border surveillance, is currently in the final stages of testing in Germany. It is likely to arrive in India in the next three months for further integration.
All eyes are fixed on Finance Minister Nirmala Sitharaman as she is set to present Union Budget 2021-22 in Parliament on Monday, at a time when India is recovering from the Covid-19 crisis.
It has been billed as a Budget like never before, triggering expectations that the government will open the purse strings to nurse the Covid-hit economy back onto a robust growth trajectory with a massive fiscal push.
Petrol and diesel are not the only sources of energy for which consumers are paying through their nose because of high taxes and different tax regimes on input and final products.