COLOMBO: Sri Lanka’s Prime Minister Ranil Wickremesinghe on Wednesday told Parliament that financial assistance provided by India are not “charitable donations” and the island nation facing severe economic crisis must have a plan to repay these loans. Sri Lanka has been facing the worst economic crisis since independence in 1948 which has prompted an acute […]
NEW DELHI: India will need USD 223 billion of investment to meet its goal of wind and solar capacity installations by 2030, according to a new report by research company BloombergNEF (BNEF). The government has set a target of increasing non-fossil power capacity to 500 GW by 2030. It wants non-fossil fuel power sources to […]
NEW DELHI: Prime Minister Narendra Modi will visit the Alpine castle of Schloss Elmau in southern Germany on June 26 and 27 to attend the annual summit of G7 that is expected to delve into pressing global challenges including the Ukraine crisis and the situation in the Indo-Pacific. From Germany, Modi will travel to the […]
NEW DELHI: Twitter’s board has recommended unanimously that shareholders approve the proposed $44 billion sale of the company to billionaire and Tesla CEO Elon Musk, according to a regulatory filing Tuesday. Musk reiterated his desire to move forward with the acquisition last week during a virtual meeting with Twitter employees, though shares of Twitter remain […]
MUMBAI: Denim giant Levi’s sadi that it has inaugurated its new store at Oberoi Mall in Mumbai on June 10, 2022. The new store is the largest store opened in a mall space in India. The store design follows the new fleet of the NextGen store format that enables consumers to immerse themselves in brand […]
NEW DELHI: The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on June 28 and 29 in Srinagar. “The 47th meeting of the GST Council will be held on June 28-29, 2022 (Tuesday & Wednesday) in Srinagar,” the finance minister’s office tweeted. This is the second time that the GST Council meeting is […]
NEW DELHI: The Reserve Bank of India (RBI) on Thursday lifted restrictions on Mastercard that it had imposed last year for failing to comply with local data storage norms. The central bank had barred the US-based payment gateway from onboarding new customers until it complies with Storage of Payment System Data norms. “In view of […]
NEW DELHI: With Chief Economic Advisor V Anantha Nageswaran citing the IMF forecast that the Indian economy would cross USD 5 trillion by 2026-27, senior Congress leader P Chidambaram on Sunday said the goal of a USD 5 trillion GDP appears to be a case of “shifting goalposts” as the original target year was 2023-24. […]
NEW DELHI: The number of income tax returns has increased in FY22 over the previous fiscal, Central Board of Direct Taxes (CBDT) Chairman Sangeeta Singh said on Saturday. Talking to PTI, Singh said the number of income tax returns last fiscal was 7.14 crore against 6.9 crore in the preceding financial year, showing a clear […]
NEW DELHI: Reserve Bank of India (RBI) on Wednesday raised the interest rate by 50 basis points to a two-year high of 4.9% as it doubled down to tame inflation that has surged in the last couple of months. The rate hike comes on the back of a 40 bps increase effected by RBI at […]
NEW DELHI: The Cabinet Committee on Economic Affairs (CCEA) chaired by the Prime Minister Shri Narendra Modi, has approved the increase in the Minimum Support Prices (MSP) for all mandated Kharif Crops for Marketing Season 2022-23. Government has increased the MSP of Kharif Crops for Marketing Season 2022-23, to ensure remunerative prices to the growers […]
NEW DELHI: India and Vietnam on Tuesday signed an MoU on mutual logistics support, the first such major agreement Hanoi has inked with any country towards simplifying procedures for mutually-beneficial logistic support as Defence Minister Rajnath Singh held wide-ranging discussions with General Phan Van Giang on “effective and practical initiatives” to further bolster defence engagements. […]
NEW DELHI: Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday said the government is “mindful” of the current inflation situation, and it is up to the Centre to take further supply-side measures to contain the price rise situation. “I am sure the government is mindful of the current inflation situation and it is […]
NEW DELHI: In a significant move to boost self-reliance in defence manufacturing, the government of India on Monday approved the procurement of military equipment and platforms worth Rs 76,390 crore from domestic industries to enhance India’s overall combat capabilities. The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, cleared the procurement of next-generation […]
NEW DELHI: India’s GST revenue for May stood at nearly Rs 1.41 lakh crore, a 44 per cent increase over the same month last year, the Finance Ministry said on Wednesday. Bucking the month-on-month increasing trend of the last two months, the Goods and Services Tax (GST) revenues came in lower than the record high […]
NEW DELHI: The Narendra Modi government (Centre) has cleared the entire GST compensation payable till date by releasing Rs 86,912 crore to states, the finance ministry said on Tuesday. Of this, Rs 25,000 crore is released from the GST compensation fund and the balance Rs 61,912 crore is being released by the Centre from its […]
