Tag: Business News

Finance Commission expected to be constituted by November end: Finance secretary

August 20, 2023 admin

T.V. Somanathan, Finance Secretary. File. | Photo Credit: KAMAL NARANG The government is expected to constitute the 16th Finance Commission by end of November, Finance Secretary T V Somanathan said. Finance Commission is a constitutional body that gives suggestions on Centre-State financial relations. It suggests, among other things, the ratio in which tax is to…

Business

Vegetable prices likely to cool down next month, says Finance Ministry

August 20, 2023 admin

The retail inflation touched a 15-month high of 7.44% in July, a spike from 4.87% in June. File | Photo Credit: PTI The government expects vegetable prices to start cooling off from next month with the advent of new crops in the market, but rising crude oil prices is a concern even though it is still…

Business

Titan to acquire additional 27.2% in CaratLane for ₹4,621 crore to raise stake to 98.28%

August 19, 2023 admin

Representational image | Photo Credit: Reuters Jewellery maker Titan on Saturday announced increasing stake in its subsidiary and new-age jewellery brand CaratLane to 98.28% by acquiring an additional 27.18% share for ₹4,621 crore. The Tata group-managed firm has entered into a share purchase agreement with CaratLane founders — Mithun Sacheti and Srinivasa Gopalan — and…

Business

Explained | What is RBI’s pilot programme for facilitating ‘frictionless’ and ‘timely’ credit?

August 18, 2023 admin

Image for representation | Photo Credit: NAGARA GOPAL The story so far: On August 17, the Reserve Bank of India (RBI) commenced a pilot programme endeavouring to evaluate the feasibility of the ‘Public Tech Platform for Frictionless Credit’. The announcement was first made when the central banking regulator enumerated developmental and regulatory policies following the conclusion…

Business

Business Matters | Is India’s ‘Make-at-home’ good industrial policy?

August 16, 2023 admin

Watch | Is India’s ‘Make-at-home’ good industrial policy? The government of India introduced restrictions on the import of laptops and tablets. The restriction is that only on prior grant of licence can any import take place. This was with immediate effect. With some intense pushback from the industry, the effective date has been deferred to…

Business

H&M probes Myanmar factory abuses as pressure intensifies

August 16, 2023 admin

Pedestrians and shoppers walk past a branch of fashion retailer H&M. The brand is investigating cases of labour abuse at its factories in Myanmar | Photo Credit: Reuters H&M is following up on 20 alleged instances of labour abuse at Myanmar garment factories that supply the world’s second-largest fashion retailer, just weeks after top rival…

Business

Retail inflation surges to 7.44% in July

August 14, 2023 admin

A scene at wholesale vegetable market Azadpur Mandi, in New Delhi. File | Photo Credit: Sushil Kumar Verma Retail inflation resurged in July to hit 7.44% from 4.87% in June, with consumers facing a sharp 11.5% spike in food prices. This is the highest pace of retail inflation since April 2022 and the first time…

Business

Wholesale inflation stays in negative for fourth month at (-) 1.36% in July

August 14, 2023 admin

Image used for representational purpose only. | Photo Credit: Reuters The wholesale price based inflation remained in the negative territory for the fourth straight month in July at (-)1.36% on easing prices of fuel, even though food articles turned costlier. The wholesale price index (WPI) based inflation rate has been in the negative since April…

Business

RBI’s MPC keeps policy rate unchanged, CPI inflation projection for FY24 revised to 5.4%

August 10, 2023 admin

The Monetary Policy Committee has unanimously decided to keep the policy repo rate unchanged, RBI Governor Shaktikanta Das said in Mumbai on August 10, 2023. | Photo Credit: Emmanual Yogini The Monetary Policy Committee (MPC) of the Reserve Bank of India on August 10 decided unanimously to keep the policy repo rate unchanged at 6.50%. Consequently,…

Business

Markets fall as investors turn cautious ahead of RBI monetary policy review, U.S. inflation data later this week

August 8, 2023 admin

File. | Photo Credit: Paul Noronha Benchmark equity indices fell on August 8 as investors turned cautious ahead of the key events — RBI’s monetary policy and the U.S. inflation data — due to be announced later this week. Continuous foreign fund outflows and weak trend in Asian and European markets also played spoilsport for…

Business