India committed to enhancing capabilities in defence manufacturing: PM
New Delhi: India is working hard to enhance its capabilities and capacities in the defence-manufacturing sector at a fast pace, Prime Minister Narendra Modi said on Monday, noting that there were hundreds of ordnance factories before independence with large-scale weapons export from the country in both world wars but this system was not strengthened. Addressing […]
Investors lose Rs 3.7-lakh crore as markets tank
New Delhi: Investor wealth slumped by Rs 3.7 lakh crore on Monday, as the equity market recorded its biggest single-day fall in two months. At the close of trade, the total market capitalisation of BSE listed companies eroded by Rs 3,71,883.82 crore to Rs 2,00,26,498.14 crore. The total market capitalisation of BSE listed companies stood […]
India Ratings revises outlook on banking sector to stable; sees higher retail stress
Mumbai: India Ratings and Research on Monday revised its outlook on the overall banking sector to stable for the fiscal 2021-2022 from negative even as it sees higher stress emerging in the retail loan segment going ahead. For public sector banks (PSBs), the outlook has been revised to stable from negative and for private banks, […]
Budget is about govt role as facilitator, pvt sector as key driver of growth: FM
Bengaluru: Finance Minister Nirmala Sitharaman on Sunday said the Union Budget 2021-22 is about the role of government as a facilitator and the private sector as a key driver of economic growth, without which the country would be losing a big opportunity. “The most important component or input required here is the participation of the […]
Govt may consider Oriental Insurance or United India for privatisation
New Delhi: The government may consider privatising Oriental Insurance or the United India Insurance Co as their financial health has improved after a series of capital infusions, people aware of the development said. To further strengthen their financial health, the government is expected to infuse Rs 3,000 crore in the public sector general insurance companies […]
Over 90% of tech industry workforce work from home: Azim Premji
Bengaluru: IT czar Azim Premji on Sunday said more than 90 per cent of the workforce in the technology industry of the country continue to work from home, and lauded the hybrid model of work. “Within the first few weeks of the (COVID-19-induced) lockdown, over 90 per cent of the technology industry was working from […]
Petrol, diesel prices hauled for 12th day
New Delhi: Petrol price on Saturday touched an all-time high of Rs 97 per litre in Mumbai while diesel rate crossed Rs 88 -mark. Petrol price was hiked by record 39 paise per litre and diesel by 37 paise a litre, according to a price notification of state-owned fuel retailers. This the 12th straight day […]
Centre, states need to work closely to boost economic growth: PM
New Delhi: Prime Minister Narendra Modi on Saturday made a strong case for repealing archaic laws and making it easier to do business in India, stating that the centre and states need to work closely to boost economic growth. Addressing the sixth Governing Council meeting of Niti Aayog, the Prime Minister said that the private […]
FM asks private sector to unleash ‘animal spirits’ and increase investments
New Delhi: Finance Minister Nirmala Sitharaman on Saturday exhorted the private sector to take advantage of corporate tax rate cut and other initiatives of the government, and unleash ‘animal spirits’ by enhancing investments to make India one of the fastest growing economies of the world. The government has been waiting for the expansion by the […]
Gadkari pitches for converting all govt vehicles into EVs
New Delhi: Road Transport and Highways Minister Nitin Gadkari on Friday pledged to convert all vehicles in his ministry to EVs and urged other departments to follow suit in a bid to cut India’s oil import dependence. The minister has also suggested providing subsidy to buy electric cooking appliances rather than giving support to buy […]