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Reliance Industries Ltd, India’s most valuable company, has sought shareholder’s approval to give Mukesh Ambani another five-year term as chairman and managing director of the company till 2029 — a period during which he has opted to draw nil salary. Mr. Ambani, 66, will cross the company law-mandated 70 years age for the chief executive…
Image used for representational purposes only. | Photo Credit: Special Arrangement India’s gross revenues from the Goods and Services Tax (GST) hit a three-month high to cross ₹1.65 lakh crore in July. However, at 10.8%, it was the slowest uptick in collections since July 2021 compared to revenues from the same month last year. Revenues…
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The senior DGCA official said that in view of the observations made in the past concerning inadequate maintenance and in view of the incidents during the monsoon season last year, SpiceJet was placed under enhanced surveillance. | Photo Credit: Reuters Aviation watchdog DGCA has taken off SpiceJet from its enhanced surveillance regime, a senior official…
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In recent years, the credibility of some of NSO’s data, especially the results of various household surveys traditionally carried out by the National Sample Survey Office have come under a cloud, with even top government officials questioning their approach and outcomes. File | Photo Credit: Reuters The story so far: The Ministry of Statistics and Programme…
Read More “Explained | Can the new data panel improve India’s statistics?” »
A view of the ICICI bank head office in Mumbai. File | Photo Credit: Reuters Private lender ICICI Bank on July 22 reported a 40% rise in standalone net profit to ₹9,648 crore for the June 2023 quarter, helped by a decline in bad loans and an improvement in interest income. The Mumbai-based private sector…
Read More “ICICI Bank reports 40% rise in standalone net profit to ₹9,648 crore” »
Photo used for illustration purpose only. | Photo Credit: K.R. Deepak With merchandise exports shrinking 15.1% in the first quarter of this year, after racking up a record $450 billion in 2022-23, the government is playing it safe on announcing a clear target for outbound shipments this year and is likely to opt for a…
Read More “As exports shrink amid global uncertainty, no clear target for 2023-24” »
“The private sector lost steam and the manufacturing sector, which dominated fresh capex plans in recent quarters, saw a drop in terms of project numbers as well as investments proposed” File | Photo Credit: Reuters Private investors turned cautious in the first quarter of 2023-24, with fresh manufacturing investment plans shrinking 17.5% year-on-year and overall…
Read More “Private sector share in investment sees sharp decline in Q1” »
Union Finance Minister Nirmala Sitharaman speaks during a post-budget press conference, in New Delhi, Wednesday, Feb. 1, 2023. | Photo Credit: PTI The government will focus on economic growth and job creation and cut down the fiscal deficit, Union Finance Minister Nirmala Sitharaman said on Wednesday, presenting its last full budget in Parliament before the…
Read More “Key takeaways from Union Budget 2023-24 in charts” »
Union Law Minister Kiren Rijiju said Phase III of eCourts Project will build on the gains made by the earlier two phases that proved crucial in the delivery of justice during the COVID-19 pandemic when courts were under lockdown protocol. File | Photo Credit: PTI Finance Minister Nirmala Sitharaman on Wednesday allocated ₹7,000 crore for…
Equity benchmarks Sensex and Nifty ended on a mixed note on Wednesday as the euphoria about the Union Budget fizzled out, with investors going for profit-taking ahead of the Fed interest rate decision. The 30-share BSE benchmark Sensex climbed 158.18 points or 0.27% to settle at 59,708.08 after it trimmed most of the intra-day gains….
