New maritime arbitration centre, policy think tank to be set up, says ministry

This would be over and above the almost 26 million houses already built across the country in the last 10 years

Equity commitments more than double Y-o-Y to $1.14 bn

Globally, there is a shortage of onions as per some reports, and lifting the MEP will help farmers realise a better price

India's forex reserves jumped USD 5.248 billion to a new all-time high of USD 689.235 billion for the week ended September 6, the Reserve Bank of India said on Friday. The overall kitty had jumped by USD 2.299 billion to a record USD 683.987 billion for the previous reporting week. For the week ended September 6, foreign currency assets, a major component of the reserves, increased by USD 5.107 billion to USD 604.144 billion, the data showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves increased by USD 129 million to USD 61.988 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by USD 4 million to USD 18.472 billion, the apex bank said. India's reserve position with the IMF was up by USD 9 million to USD 4.631 billion in the reporting week, the apex bank data showed.

The Tamil Nadu government on Friday said it has signed an MoU with US-headquartered Rapid Global Business Solutions, Inc, a supplier of business solutions across various industries, and the firm would set up a new unit in the state by investing Rs 100 crore. The MoU was signed in the presence of Chief Minister M K Stalin in Chicago on September 12 between officials of the state and the company, represented by its Chairman and CEO Nanua Singh and others, an official release here said, adding the new electronic and telematics firm would come up at Hosur. Industries Minister TRB Rajaa and top state officials were present. In total, the state government has inked pacts totally worth Rs 7,616 crore with 18 companies during the Chief Minister's official US tour to attract investments. Stalin, who embarked on his US tour on August 27, completed his trip and departed from Chicago to Chennai on September 12 following a warm send-off by the Tamil diaspora. In a post on X, he said: Goodbye, U

India has extended countervailing or anti-subsidy duty on a Chinese chemical used in pesticides for five more years to guard domestic players. The decision followed a recommendation of the commerce ministry's investigation arm DGTR for continuation of the duty on the imports of 'Atrazine Technical' from China. "The countervailing duty imposed under this notification shall be levied for a period of five years (unless revoked, superseded or amended earlier) from the date of publication of this notification," a finance ministry notification has said. The finance ministry has imposed a duty of up to 11.94 per cent on the product. In its probe, the DGTR had concluded that the current duties have allowed more Indian producers to enter the market and have helped the domestic industry to expand its capacity. The subsidised exports were hurting Indian players. Earlier the revenue department had imposed the duty in September 2019. Subsidised exports impact the price of that product in th

Proposed mandate will help steel scrap availability and in reducing emissions, they say

With inflation easing and elections around the corner, speculation is growing that petrol could become cheaper by Rs 10 per litre and diesel by Rs 6-8 per litre

Central bank in no rush to cut rates as projections say inflation is moderating, says Shaktikanta Das

At a Singapore forum, RBI Governor Shaktikanta Das projected that India has a growth potential of at least 7.5%, slightly above the RBI's official 7.2% forecast for 2024-25

The investment in FAR securities had exceeded Rs 1 trillion on October 16, 2023

The National Bank for Financing Infrastructure and Development (NaBFID) should provide credit enhancements for civic bodies which will help increase investor interest in municipal bonds, a senior Sebi official said on Thursday. The municipal bodies have an investment grade rating, but very few of them are rated AA and above which is considered essential by institutional investors like insurance and pension funds, Sebi's executive director Pramod Rao said. "NaBFID providing credit enhancements to such municipalities will be able to ensure that we have strong investor interest which comes in," he said at an event on infrastructure finance here. He said only 100 of the 5,000 civic bodies are rated which leaves a "long tail" of bodies which can raise the money it helped with the credit enhancement. The government has notified NaBFID as a public financial institution. The senior official from the capital markets regulator also said that this will not be working in perpetuity for any ci

On Wednesday, the Union Cabinet expanded the health coverage under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) to all senior citizens aged 70 years or above

NPCI, which operates UPI platform, earned Rs 2,693.42 crore in FY24, up 36 per cent from Rs 1,971.69 crore

The annual private capex survey will run in conjunction with the annual survey of industries, which tracks output, value-added, and employment across manufacturing sector enterprises

The data released by NSO on Thursday showed that food inflation rose slightly to 5.66 per cent from 5.42 per cent in July

Global oil demand is experiencing its slowest growth since 2020, primarily due to weak demand from China and a drop in Russia's global oil supply

India will be driving 20 per cent of the world's economic growth in the next decade as it continues its march to become the third largest economy globally, according to G20 Sherpa Amitabh Kant. Speaking at the AIMA convention here, he noted that India continues to be the fastest-growing large economy in the world and is the fifth-largest economy. "In the next three years, we will overtake Japan and Germany to be the third largest economy in the world. In a world which is starved for growth, India is an outlier and has emerged as a very resilient powerhouse driving growth," he stated. The country will be driving 20 per cent of the world's economic growth in the next decade, he added. "What we are witnessing today is a once-in-a-generation shift in our economic position. Just a few years back, we were in the fragile five, and from the fragile five, we moved to the top five in a decade," Kant said. He noted that the country needs to transform the lives of people living in rural areas

The Karnataka chief minister has invited states to a conclave in Bengaluru to discuss the challenges of fiscal federalism, particularly ahead of upcoming recommendations from the Finance Commission