Category: Business

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Rupee settles on flat note, up 1 paisa at 84.90 against U.S. dollar

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Rupee settles on flat note, up 1 paisa at 84.90 against U.S. dollar

Image used for representational purpose only. | Photo Credit: Reuters The rupee consolidated in a narrow range and settled for the day higher by 1 paisa at 84.90 (provisional) against the U.S. dollar on Tuesday (December 17, 2024), weighed down by disappointing trade balance data and weak domestic markets. Forex traders said the rupee is…

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Only 6.68 pc of population filed income tax return in 2023-24 fiscal

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Only 6.68 pc of population filed income tax return in 2023-24 fiscal

“In FY 2023-24, the percentage of population that files Income Tax Return is 6.68 per cent. (In FY 2023-24, the total number of persons filling income tax return is 8,09,03,315),” Mr. Chaudhary said in a written reply to the Rajya Sabha. Only 6.68 per cent of India’s population filed income tax returns in 2023-24 fiscal,…

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Lower Q2 GDP growth a temporary blip; economy to improve in coming quarters, says Nirmala Sitharaman

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Lower Q2 GDP growth a temporary blip; economy to improve in coming quarters, says Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman speaks during the Winter session of Parliament, in New Delhi, on December 17, 2024. | Photo Credit: PTI Union Finance Minister Nirmala Sitharaman on Tuesday (December 17, 2024) said the lower-than-expected GDP growth of 5.4% in the second quarter was a “temporary blip” and the economy will see healthy growth…

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Business

Ten-year plan can make India global leader in bamboos: Foundation for MSME Clusters

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Ten-year plan can make India global leader in bamboos: Foundation for MSME Clusters

Representational image only. File | Photo Credit: The Hindu “A 10-year plan can transform India’s bamboo sector and help bridge the gap with China,” market leader, the Foundation for MSME Clusters (FMC) said.  “India, with 13.96 million hectares of bamboo cultivation, is the second-largest bamboo producer in the world. Yet, its contribution to the global bamboo market…

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Reliance Power arm bags letter of award from SECI for Solar 930 MW, 465 MW/1860 MWh BESS projects

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Reliance Power arm bags letter of award from SECI for Solar 930 MW, 465 MW/1860 MWh BESS projects

Reliance NU Suntech won the 930 MW solar energy contract with battery energy storage system project (BESS) from SECI. File | Photo Credit: Reuters Reliance Power Limited said its subsidiary Reliance NU Suntech Private Limited (Reliance NU Suntech) has received the Letter of Award from Solar Energy Corporation of India (SECI) for its proposed Solar…

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Business

Markets decline in early trade dragged by Reliance, HDFC Bank; caution ahead of U.S. Fed rate decision

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Markets decline in early trade dragged by Reliance, HDFC Bank; caution ahead of U.S. Fed rate decision

Image for representative purposes only | Photo Credit: Reuters Equity benchmark indices Sensex and Nifty declined in early trade on Tuesday (December 17, 2024) amid cautious investors approach ahead of the U.S. Fed interest rate decision and selling in blue-chip stocks like Reliance Industries and HDFC Bank. The 30-share BSE benchmark Sensex declined 350.98 points…

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Business

Rupee falls 1 paisa to all-time low of 84.92 against U.S. dollar

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Rupee falls 1 paisa to all-time low of 84.92 against U.S. dollar

FIIs offloaded ₹278.70 crore in the capital markets on a net basis on Monday (December 16, 2024). File | Photo Credit: The Hindu The rupee dropped 1 paisa to hit a new lifetime low of 84.92 against the U.S. dollar in early trade on Tuesday (December 17, 2024), weighed down by foreign fund outflows and…

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U.S. case against India’s Gautam Adani appears strong but extradition unlikely, experts say

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U.S. case against India’s Gautam Adani appears strong but extradition unlikely, experts say

Indian billionaire Gautam Adani. | Photo Credit: Reuters The U.S. fraud case against Indian billionaire Gautam Adani appears to be backed by documents that will help prosecutors make a strong case, legal experts said, but the tycoon is unlikely to be extradited to stand trial anytime soon. Federal prosecutors in Brooklyn last month unsealed an…

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India’s solar energy agency changes bidding policy after Adani bribery allegations, says source

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India’s solar energy agency changes bidding policy after Adani bribery allegations, says source

Indian billionaire Gautam Adani. | Photo Credit: Reuters An Indian government agency charged with promoting renewable energy has changed the way it issues power tenders to reduce the risk of corruption after U.S. allegations of bribery in some tenders, said an official with direct knowledge of the matter. The Solar Energy Corporation of India (SECI)…

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India’s Tata faces pressure in Starbucks joint venture as consumers cut back

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India’s Tata faces pressure in Starbucks joint venture as consumers cut back

An employee takes a customer’s order at a Starbucks’ outlet at a market in New Delhi, India, May 30, 2023. | Photo Credit: Reuters India’s Tata Consumer Products will push back plans for some new Starbucks store openings until later in its existing schedule as fewer customers are walking into its cafes in the world’s…

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