Tag: Business

Household Debt Doubles In FY23, Savings More Than Halves To 5.15% Of GDP: SBI Research

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Household Debt Doubles In FY23, Savings More Than Halves To 5.15% Of GDP: SBI Research

According to SBI Research, a good portion of the drawdown from savings have gone to physical assets Mumbai: The net financial savings of households plunged by close to 55 per cent in FY23 to 5.1 per cent of GDP, and their indebtedness more than doubled to Rs 15.6 lakh crore from FY21, primarily led by…

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Business

Sensex Tanks 796 Points, Nifty Below 20,000 On Selling In HDFC Bank, RIL

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Sensex Tanks 796 Points, Nifty Below 20,000 On Selling In HDFC Bank, RIL

Falling for the second day running, the 30-share BSE Sensex tumbled 796 points or 1.18 per cent Mumbai: Benchmark indices Sensex and Nifty tumbled more than 1 per cent today due to selling in index heavyweights in tandem with weak global trends ahead of the US Federal Reserve’s interest rate decision. Falling for the second…

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Business

Court Orders Probe Agency To Reply To Naresh Goyal’s Plea Challenging Arrest

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Court Orders Probe Agency To Reply To Naresh Goyal’s Plea Challenging Arrest

Mumbai: The Bombay High Court on Wednesday directed the Enforcement Directorate (ED) to file its affidavit in response to Jet Airways founder Naresh Goyal’s plea challenging his “illegal” arrest in a money laundering case linked to bank loan default. Goyal, in his plea, claimed his arrest was illegal as it was done without following provisions…

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Business

Government Says Working On Using AI To Reduce Pendency Of Consumer Cases

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Government Says Working On Using AI To Reduce Pendency Of Consumer Cases

Consumer Affairs Ministry said it is working on using AI to reduce the pendency of cases New Delhi: The Consumer Affairs Ministry today said it is working on using artificial intelligence (AI) to reduce the pendency of cases in various consumer courts in the country. The ministry also said the National Consumer Dispute Redressal Commission…

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Business

Government Says Working On Using AI To Reduce Pendency Of Consumer Cases

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Government Says Working On Using AI To Reduce Pendency Of Consumer Cases

Consumer Affairs Ministry said it is working on using AI to reduce the pendency of cases New Delhi: The Consumer Affairs Ministry today said it is working on using artificial intelligence (AI) to reduce the pendency of cases in various consumer courts in the country. The ministry also said the National Consumer Dispute Redressal Commission…

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Business

Net Direct Tax Collection Grows 23.5% To ₹8.65 Lakh Crore April To September 16

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Net Direct Tax Collection Grows 23.5% To ₹8.65 Lakh Crore April To September 16

The government has issued tax refunds during the current fiscal year (Representational) New Delhi: The net direct tax collections rose 23.5% on the year to 8.65 trillion rupees ($103.9 billion) in April-September 16, the government said on Monday. The tax collection includes corporate tax of 4.16 trillion rupees and personal income tax of 4.47 trillion…

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Business

Windfall Tax On Crude Oil Hiked And Cut For Aviation Fuel

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Windfall Tax On Crude Oil Hiked And Cut For Aviation Fuel

India imposed the windfall tax on crude oil producers in July last year New Delhi: The government has increased the windfall tax on petroleum crude to 10,000 rupees ($120.36) per ton from 6,700 rupees, effective September 16, according to a government notification on Friday. The government also cut the windfall tax on aviation turbine fuel…

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Business

Tata Steel, UK Announce 1.25 Billion Pound Joint Investment Plan

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Tata Steel, UK Announce 1.25 Billion Pound Joint Investment Plan

London/New Delhi: The United Kingdom on Friday announced a joint investment package with Tata Steel worth 1.25 billion pounds, including a government grant of 500 million pounds, for the country’s largest steelworks in Wales that will help protect thousands of jobs and boost the British economy. The government’s grant has been dubbed as one of…

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Business

Jindal Steel Gets Green Panel Notice Over Worker’s Death In Molten Slag Incident

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Jindal Steel Gets Green Panel Notice Over Worker’s Death In Molten Slag Incident

New Delhi: The National Green Tribunal (NGT) has issued a notice to Jindal Steel and Power Limited in connection with the death of a worker after hot or molten slag allegedly fell on him at the company’s steel plant in Patrapali village in Raigarh district of Chhattisgarh. The NGT was hearing an application registered on…

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Business

Adani Enterprises Arm To Build 5.2 MW Wind Turbine Generators

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Adani Enterprises Arm To Build 5.2 MW Wind Turbine Generators

New Delhi: Adani Enterprises Ltd said on Wednesday that its arm Adani New Industries Ltd has received a key international certification and will now be able to start production of 5.2 MW series wind turbine generators for global markets. The company was so far manufacturing and supplying 5.2 MW Wind Turbine Generators (WTGs) for domestic…

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Business