Adani group will invest about Rs 75,000 crore in Madhya Pradesh in power plants, building Mahakaal Expressway, and setting up cement grinding units in coming years, a top group executive said on Friday. The apples-to-airport group has already invested almost Rs 18,000 crore in the state and will continue investing in diverse sectors, said Pranav Adani, Managing Director (Agro, Oil and Gas) and Director of Adani Enterprises at the Regional Industry Conclave here. "Currently, our presence in Madhya Pradesh spans a wide range of sectors - from roads, cement, and natural resources to thermal power, renewable energy and power transmission," he said. "Our faith in your (chief minister Mohan Yadav's) visionary leadership will see us investing close to Rs 75,000 crore in Madhya Pradesh," he added. He, however, did not indicate a time frame for the investment. Of this, the group will invest Rs 5,000 crore in building the Mahakaal Expressway from Ujjain to Bhopal, through Indore. "We will

The GDP growth for the current financial year could be within striking distance of 8 per cent, a study by the State Bank of India (SBI) said on Friday, a day after India posted an 8.4 per cent growth in the December quarter, and revised upwards the estimates for the preceding two quarters. "The third quarter GDP numbers jolted the psyche and cognitive framework of most in markets, while sweeping some by a pleasant surprise. Clearly, right policy prisms and perspectives can trump irrational expectations bordering fault lines," SBI said in its research report 'Ecowrap'. It noted that defying all estimates, the economy grew 8.4 per cent in the third quarter of 2023-24 after exhibiting more than 8 per cent growth in the preceding two quarters. The buoyancy in indirect tax mop-up (32 per cent year-on-year growth), gap between Gross Domestic Product (GDP) and Gross Value Added (GVA) growth widened. "For fiscal 2023-24 GDP growth is expected to increase 7.6 per cent and GVA growth by 6.9

The company is a wholly-owned subsidiary of National Highways Authority of India and manages toll road projects

The Reserve Bank of India (RBI) on Friday said nearly 97.62 per cent of the Rs 2,000 bank notes have returned to the banking system, and only about Rs 8,470 crore worth of the withdrawn notes are still with the public. On May 19, 2023, the RBI announced the withdrawal of Rs 2,000 denomination bank notes from circulation. "The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, has declined to Rs 8,470 crore at the close of business on February 29, 2024," the RBI said in a statement. Thus, 97.62 per cent of the Rs 2,000 banknotes in circulation as of May 19, 2023, have since been returned, it added. "The Rs 2,000 banknotes continue to be legal tender," the RBI added. People can deposit and/or exchange Rs 2,000 bank notes at the 19 RBI offices across the country. People can also send Rs 2,000 bank notes through India Post from any post office to any of the RBI

Finance Minister Nirmala Sitharaman on Friday said Direct Benefit Transfer of Rs 34 lakh crore has been facilitated by the Public Financial Management System (PFMS) and asked accounts officers to further enhance efficiency and transparency of the system. In a written message to the Controller General of Accounts (CGA) and the Indian Civil Accounts Organisation (ICAO) on the occasion of the 48th Civil Accounts Day, Sitharaman said PFMS has been the cornerstone of establishing an efficient fund flow system alongside a robust payment and accounting network. PFMS is the management information system used by officers of the Indian Civil Accounts Service to maintain the accounts of the government. It is also used to transfer funds to beneficiary accounts of various government schemes via Direct Benefit Transfer (DBT). "The Direct Benefit Transfer mechanism, facilitated through PFMS, has led to the transfer of Rs 34 lakh crore from the government. This is a testament to the system's ...

He also expressed his best wishes to the students appearing in the board examination and wished for their bright future, suggesting they write the examination without any fear

In volume terms, transactions were seen at 12.10 billion, compared to 12.20 billion in January

The meeting of the highest decision making body of the WTO on Friday entered the fifth day with key members including India, the US and EU holding talks to iron out differences on issues such as agriculture, fisheries subsidies, and duty moratorium on e-commerce trade. The 13h ministerial conference (MC), which was to end on February 29, extended for a day as developing and developed nations were unable to find a common ground on these key issues. The members are talking to end the impasse and so far things have not moved much, an official said. "There are nine countries in the Green Room meeting including Brazil and China. The negotiations have been extended as WTO chief Ngozi Okonjo-Iweala is pushing for outcomes," the official said. However, officials here are not sounding positive so far about bridging the differences and coming out with a ministerial declaration, which is a must for the success of the conference. India has clearly stated that finding a permanent solution to t

India's HSBC India Manufacturing PMI came in at 56.9 in February, the fastest since October last year when it was 55.5

Last month, before Budget 2024, the price of commercial LPG cylinders was hiked by Rs 14 in Delhi to Rs 1,770

Coal output grew by 10.2 per cent, the only sector to retain a double-digit growth in January, compared to 10.7 per cent previously

On Feb. 16, the government raised the windfall tax on petroleum crude to 3,300 rupees a metric ton from 3,200 rupees and hiked the tax on diesel to 1.5 rupees a litre from zero

National Bank for Financing Infrastructure and Development (NaBFID), which supports the development of long-term non-recourse infrastructure financing, has set a target to sanction Rs 3 lakh crore by March 2026, the finance ministry said on Thursday. Finance and Corporate Affairs Minister Nirmala Sitharaman chaired a meeting to review the performance of the NaBFID and asked it to introduce a structured partial credit enhancement facility towards deepening bond markets, including for urban local bodies and municipalities. To date, NaBFID has made total sanctions of more than Rs 86,804 crore, with projects spread across the country and in diversified sub-sectors of infrastructure like roads, renewable power, ports, railways, and city gas distribution. Out of the Rs 86,804 crore, 50 per cent has been sanctioned with long tenure of 20 to 50 years. "NaBFID will sanction over Rs 3 lakh crore by March 2026," the ministry said in a release. It will continue its focus on infrastructure ...

India Inc on Thursday said 8.4 per cent GDP growth in the October-December quarter of FY24 has "surpassed" expectations, and the economy is on a high growth trajectory due to sustained reforms undertaken by the government. India's economic growth accelerated to 8.4 per cent in the October-December quarter of this fiscal, driven by double-digit growth in manufacturing and good showing by mining & quarrying and construction sectors. The GDP (gross domestic product) growth was 4.3 per cent in the October-December 2022 quarter, according to the data released by the National Statistical Office (NSO) on Thursday. "Industry is enthused to note the strong set of GDP growth numbers for the third quarter (YoY), which surpassed expectations...What is more comforting to note is the fact that the robust expansion came despite the recurring spate of geopolitical flashpoints," said Chandrajit Banerjee, director general, CII. He further said the Indian economy is on a high growth trajectory ...

The Centre generally releases 14 instalments to the states in a year, one each in 11 months and three in March. The latest release is yet another additional devolution

The National Statistical Office (NSO), in its second advance estimates data released on Thursday, revised the FY24 growth estimate upward to 7.6 per cent, from the 7.3 per cent projected in January

He urges global rating agencies to reassess their estimates of India's potential growth rate to 7 per cent

According to the latest gross domestic product (GDP) data released by the National Statistical Office on Thursday, private final consumption expenditure (PFCE) grew at 3.5 per cent in the December qtr

Both revenue and capital expenditure for the April-January FY2024 period was around 75 per cent

The GDP growth of 8.4 per cent in the third quarter shows the strength of Indian economy and its potential, Prime Minister Narendra Modi said on Thursday, asserting that the government will continue to make efforts to keep fast economic growth and help 140 crore Indians lead a better life and create a 'Viksit Bharat'. Beating estimates, India's economic growth shot to 8.4 per cent in the third quarter of 2023-24, mainly due to good performance by the manufacturing, mining & quarrying, and construction sectors. Modi said, "Robust 8.4% GDP growth in Q3 2023-24 shows the strength of Indian economy and its potential.