Economy

Finance Ministry statement makes no mention of whether Section 7 of RBI Act has been invoked The Ministry of Finance has acknowledged that the autonomy of the Reserve Bank of India is an ‘essential and accepted governance requirement,’ in a statement issued on Wednesday. Significantly, it neither confirmed nor denied …

WTO panel to examine India-U.S. export case The World Trade Organisation’s (WTO) dispute settlement body has set up a panel to examine the U.S.’ complaint against certain export-subsidy measures by India as both the sides failed to resolve the issue at consultation level, an official said. In March, the U.S. …

Long crop duration makes ryots go in for hybrid varieties ‘ Malai poondu ’ or hill garlic grown on the hills of Kanthalloor and Vattavada areas of Idukki district of Kerala are known for its unique flavour, pungency, taste, medicinal properties and longer shelf life . But the long crop …

Levy has helped add to our bottomline, says executive chairman of TTK Prestige Kitchen appliances maker TTK Prestige Ltd. the Rs. 1,800-crore flagship of the TTK Group has just reported bumper numbers for the second quarter with net profit jumping by 28% on the back of strong rural demand for …

4G and 5G technologies have to coexist. It doesn’t mean that since you are doing 5G, you kill 4G, says the country head of Intel India Nivruti Rai , country head, Intel India, talks about emerging technologies such as 5G and artificial intelligence (AI) and the evolving role of Intel …

A combination of higher input costs, tariff uncertainty, IGST refund woes leads to export contraction in September, the first time in six months Exporters in India are not happy with the current policy and exchange rate situation even though they should be cheering the depreciating rupee. A combination of higher …

Old-economy companies are buying or investing in tech firms, as their definition of ‘core’ changes Ask Pirojshaw Sarkari why a traditional business such as Mahindra Logistics, of which he is the CEO, picked up stake this year in ShipX, a provider of transport management solutions and he tells you, “Because …

Situated near the Great Rann of Kutch, Banni, the largest grassland of Asia, spread over 2,717 sq.km, is in the grip of a severe drought as winter sets in. While the area is known for its scarce rainfall and semi-drought conditions, it is for the first time in 13 years …

Airline sees first ever loss at Rs. 652.1 cr. The unrelenting increase in fuel prices, along with the tumbling rupee in a quarter that typically sees weak demand from air-travellers, has led to IndiGo recording its first-ever loss at Rs. 652.1 crore for the quarter ended September. The airline, with …

Indian carriers ferried 11.39 million passengers against 9.58 million last year Domestic aviation traffic witnessed a growth of 18.95% in September with Indian carriers ferrying 11.39 million passengers as compared with 9.58 million during the same month last year. IndiGo recorded its highest market share this calendar year at 43.2%. …

Amid stiff competition, carriers keep fares low despite rising losses, ATF costs Having landed in a Catch-22 situation with the inability to increase airfares despite rising fuel costs, airlines in India have flown into losses. The quarterly loss of Rs. 652.1 crore by IndiGo, despite having more than 42% market …

Comptroller and Auditor General of India Rajiv Mehrishi on Tuesday questioned the role of the Reserve Bank of India (RBI) during the time when the banks were “going berserk with their lending”, leading to the high levels of NPAs, saying that there was no public discourse on the role of …

Rupee could fall another 10%, says veteran fund manager Joseph Bernhard Mark Mobius is among the best-known emerging markets fund managers. After having spent over 25 years at Franklin Templeton – including being the lead manager of Templeton Emerging Markets Investment Trust – the 82-year-old stepped down early this year …

Tejas Networks, a maker of networking products, has received an Rs. 111-crore purchase order from Sterlite Technologies to implement Indian Navy’s country-wide next-generation digital communications network. Tejas Networks would supply its terabit capacity DWDM systems and high-performance layer-3 multi-gigabit ethernet switches for Navy’s pan-India network, according to a statement. Source …

As many as 88% of the large-cap equity funds underperformed their benchmarks over the one-year period ending June 30, according to the latest analysis by S&P Dow Jones Indices. Further, 62% of mid-cap/small-cap equity funds and 83% of government bond funds underperformed their respective indices as well in the same …

The direct tax base has significantly widened in the last few years, according to new back series data released by the government. The data showed a growth of more than 80% in the number of returns filed in the last four financial years from 3.79 crore in financial year (FY) …

While urban Uttar Pradesh has an 80% coverage of toilets, inefficient sanitation systems ensure that almost 87% of the excreta being generated by these toilets is being dumped in waterbodies or agricultural lands, according to a new analysis of 30 cities by the Centre for Science and Environment. “With 2019 …

Giving relief to domestic medical device makers, the Centre has asked the procurement agencies to follow the Bureau of Indian Standards (BIS) for procuring devices and not to mandate the USFDA/CE certifications where the norms laid down by the national standard body exist. This issue of mandatory requirement of USFDA/CE …

Whenever you buy an expensive beauty product from premium brands such as The Body Shop or L’oreal or a chocolate hamper from Ferrero Rocher, you might be unknowingly supporting millions of tribals spread across States like Jharkhand, Odisha, Chhattisgarh and Madhya Pradesh. A little-known Indian company from Chhattisgarh – Manorama …

Air purifier makers are again looking at a big spike in their sales like previous years since the air quality in the national capital region and adjoining areas is likely to deteriorate further in the coming weeks. The companies are again expecting Delhi NCR to drive their sales this year, …