BUSINESS

 Press Trust of india

Economic recovery faster than expected, confident of meeting $5-trn target by 2024: PM

Economic recovery faster than expected, confident of meeting $5-trn target by 2024: PM

New Delhi:  The Indian economy is getting back on track faster than expected as a timely lockdown and various relief measures announced by the government helped address issues faced by all sections of society and all economic sectors due to the COVID-19 pandemic, Prime Minister Narendra Modi has said. He also expressed confidence that the […]

 Press Trust of india

Govt revises PLI scheme guidelines to boost local production of bulk drugs, medical devices

Govt revises PLI scheme guidelines to boost local production of bulk drugs, medical devices

New Delhi:  The Department of Pharmaceuticals on Thursday revised guidelines of the Production Linked Incentive (PLI) schemes for promoting domestic manufacturing of bulk drugs and medical devices keeping in view the suggestions and comments received from the industry. “Accordingly ‘minimum threshold’ investment requirement has been replaced by ‘committed investment’ taking into account availability of technology […]

 Press Trust of india

Fare limits to remain in place for another three months: Puri

Fare limits to remain in place for another three months: Puri

New Delhi: The upper and lower limits on domestic airfares will remain in place for another three months post November 24, Civil Aviation Minister Hardeep Singh Puri on Thursday. The ministry had on May 21 placed these limits through seven bands, classified on the basis of flight duration, till August 24. Later, it was extended […]

 Press Trust of india

COVID-19: Sharp rise in demand for contract workers

COVID-19: Sharp rise in demand for contract workers

Bengaluru:  Job seekers’ interest in ‘contract or temporary jobs’ jumped by 150 per cent, while postings for these jobs increased by 119 per cent between January and July 2020, a flow-on effect of pandemic-induced economic shutdowns across industries, according to data from job site ‘Indeed’. While the demand for contract workers has risen steadily since […]

 Press Trust of india

Interest waiver: Outstanding as of Feb 29 to be reference for ex gratia relief

Interest waiver: Outstanding as of Feb 29 to be reference for ex gratia relief

New Delhi:  The loan outstanding as of February 29 would be the reference amount for calculating the differential interest amount under the ‘scheme for grant of ex gratia payment of difference between compound interest and simple interest’ according to the FAQs released by the Finance Ministry. The Reserve Bank on Tuesday asked all lending institutions, […]

 Press Trust of india

Lockdowns have changed consumer buying behaviour; omni-channel strategy key to biz growth: Report

Lockdowns have changed consumer buying behaviour; omni-channel strategy key to biz growth: Report

New Delhi:  Coronavirus-induced lockdowns across the country have transformed consumers’ buying behaviour and hyperlocal distribution model, and distribution alliances and an omni-channel strategy will be key to business growth, according to a joint report by Deloitte Touche Tohmatsu India and FICCI. As per the report, called ‘REBOOT’, while the pandemic brought massive disruptions across the value chain of […]

 Press Trust of india

Digitalisation to drive USD 6.8 trillion IT spending from 2020 to 2023: IDC

Digitalisation to drive USD 6.8 trillion IT spending from 2020 to 2023: IDC

Bengaluru:  The global economy remains on its way to its “digital destiny” driving USD 6.8 trillion of IT spending from 2020 to 2023, according to International Data Corporation (IDC). The impacts from COVID-19 pandemic are ubiquitous and affect the many external forces that are driving change, the research firm said in its worldwide information technology […]

 Press Trust of india

RBI asks lenders to implement waiver of interest on interest scheme by Nov 5

RBI asks lenders to implement waiver of interest on interest scheme by Nov 5

Mumbai:  The Reserve Bank on Tuesday asked all lending institutions, including non-banking financial companies, to ensure that the scheme of waiver of interest on interest for loans up to Rs 2 crore for the six-month moratorium period is implemented by November 5, as decided by the government. Last Friday, the government had announced the scheme […]

 Press Trust of india

The poor now linked to banking system, have access to loans: PM

The poor now linked to banking system, have access to loans: PM

Lucknow: Prime Minister Narendra Modi on Tuesday said his government has acknowledged the honesty and hard work of street vendors by offering them loans that were inaccessible to the poor in the past. “Those doing politics in the name of the poor had created an atmosphere that if a loan is given to them it […]

 Press Trust of india

FM sees GDP growth in negative zone or near zero in current fiscal

FM sees GDP growth in negative zone or near zero in current fiscal

New Delhi:  Finance Minister Nirmala Sitharaman on Tuesday said there were visible signs of revival in the economy but the GDP growth may be in negative zone or near zero in the current fiscal. This is primarily because of a huge 23.9 per cent contraction in the economy in the first quarter of current fiscal […]