ECONOMY NEWS - Page 100

ONGC started drilling in Tripura back in 1962. The national oil and gas explorer was awarded acreages at Central Baramura, Aramura Bulge, Tichna and Khubal areas of the state. (File)

ONGC gas sale from KG basin: Key to boost domestic outputSubscriber Only

April 15, 2021 04:23 IST

ONGC is set to supply about 2 MMSCMD of natural gas from the fields from June-end

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Govt raises 1.10 lakh crore in covid-hit FY21 against 77,052 crore in FY20: Fundraising via public, rights issues up 42%

April 15, 2021 04:12 IST

Total funds raised through public and rights issue rose nearly 42 per cent to Rs 1.10 lakh crore in 2020-21 from Rs 77,052 crore in 2019-20.

Infosys unveils 9,200-cr buyback, Q4 net rises 17.4%

April 15, 2021 04:01 IST

The net profit dipped by 2.32 per cent from Rs 5,197 crore posted in the December quarter of FY21. Revenue for the quarter under review rose to Rs 26,311 crore, up 13.1 per cent, from Rs 23,267 crore in Q4 of FY20.

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Covid surge, mandatory tests cast a shadow over air travelSubscriber Only

April 15, 2021 12:25 IST

Currently, the Centre has allowed airlines to fly with 80 per cent of their pre-Covid schedules.

Gold, Silver Rates Today News Updates:
(Photo: File/Representational)

Mandatory gold hallmarking from June 1

April 14, 2021 05:07 IST

Gold hallmarking is a purity certification of the precious metal and is voluntary in nature at present.

FM: We’re not going for lockdowns in a big way

April 14, 2021 04:30 IST

The Finance Ministry tweeted, “Finance Minister Smt. @nsitharaman shared the measures being taken by India to contain the spread of second wave of pandemic including the five pillared strategy of test-track-treat-vaccination and #COVID19 appropriate behaviour.”

According to two statements issued by the Finance Ministry this month, gross tax receipts (GTR) — net of refunds but before transfers to the states — last financial year were up Rs 1.22 lakh crore, or 6.4 per cent, over the RE at Rs 20.16 lakh crore.

At Rs 20.16 lakh crore, FY21 tax collection tops revised estimate

April 14, 2021 04:16 IST

With all major tax heads yielding revenues significantly higher than the respective revised estimates (RE) shown in the Budget, the Centre has appropriated an additional Rs 78,000 crore as net (post-devolution) tax revenue in FY21.

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CCI’s antitrust plan: Select staff to view competitor’s confidential info

April 14, 2021 04:12 IST

The norm proposes to set up a confidentiality ring constituted of staff of the involved firms who are not part of commercial operations.

The order by the NCLAT came after the Supreme Court had, in September last year, asked the appellate tribunal to decide on the issue of whether lenders had the rights to sell the spectrum of Aircel, which is undergoing CIRP.

Spectrum govt property, can’t be held as ‘security’: NCLATSubscriber Only

April 14, 2021 04:04 IST

All telecom service providers, the NCLAT said, are granted only the right to “use the spectrum” and, therefore, cannot be said to be the “owners” of the spectrum.

In February, Moody's had bettered India's growth projection for the current fiscal year, which began on April 1, to 13.7 per cent as economic activity gathered pace. For the calendar year 2021, Moody's has projected economic growth rate at 12 per cent. (Image: Reuters)

Indian economy may clock double-digit growth in 2021: Moody’s

April 13, 2021 16:01 IST

Moody's expects that given the focus on 'micro-containment zones' to deal with the current wave of infections, as opposed to a nationwide lockdown, the impact on economic activity would be less severe than that seen in 2020.

Core inflation, exclusive of food and fuel inflation, rose to a 29-month high of 5.96 per cent.

Factory output contracts for second straight mth; retail inflation inches up

April 13, 2021 05:49 IST

India’s factory output contracted for the second consecutive month in February, shrinking by 3.6 per cent on the back of lower production in mining and manufacturing sectors, according to government data released on Monday.

Stressed assets, Covid recast: RBI, bank chiefs meetSubscriber Only

April 13, 2021 05:52 IST

RBI Governor Shaktikanta Das advised the banks to remain watchful of the evolving situation and continue taking measures proactively for maintaining their business continuity, sharpening business strategies and raising adequate capital for strengthening balance sheets.

People at Dadar Vegetable Market near Dadar station (Express Photo by Prashant Nadkar)

Retail inflation rises to 5.52% in March; IIP contracts 3.6% in February: Govt data

April 12, 2021 18:08 IST

CPI Inflation Rate March, IIP Growth Rate February 2021: The retail inflation, measured Consumer Price Index (CPI) rose to 5.52 per cent in March. Separately, the factory output, measured in terms of Index of Industrial Production (IIP), contracted by 3.6 per cent in February.

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Innovative India must capture all segments of financial market to fuel growth: IMF

April 12, 2021 13:21 IST

The IMF official underscored the significance of investments into financial institutions, into oversight, and into infrastructures to ensure that the "financial system can absorb shocks and that is sustaining growth" in a long-term way.

For the Sensex set of companies, net profits are estimated to soar 55 per cent year-on-year on the back of an 11 per cent y-o-y rise in revenues and a sharp 23 per cent-plus increase in operating profits.

Q4FY21: India Inc set to end year on a high note

April 12, 2021 04:38 IST

Revenues should grow to multi-quarter highs in Q4FY21 on the back of better volumes and higher prices. But profits would also get a boost from cost savings and better operating leverage, much like they have in recent quarters.

Banerjee said that the economy of West Bengal is also connected with the country. (File photo)

Nobel laureate Abhijit Banerjee trashes theory of limited govt intervention to uplift poor

April 11, 2021 20:01 IST

Addressing the 20th foundation day of Bandhan Bank, the non-profit-turned-MFI-turned-small finance bank, on Sunday, Banerjee said there is no data and no empirical evidence anywhere to establish the ideology that getting freebies or getting free assets make the poor people lazy.

A total of 1,61,736 new Covid-19 cases have been reported on Tuesday, pushing India's tally of cases to 1,36,89,453. (File photo)

‘Personal connect missing, mini lockdowns may hit MFIs’

April 11, 2021 01:16 IST

For instance, Maharashtra, which is seeing the maximum number of cases, has announced the most stringent one — a mini lockdown through April 30. Many other states have also announced night curfews and weekend lockdowns.

In the reporting week ended April 2, 2021, the decline in the reserves was mainly on account of a fall in foreign currency assets (FCAs), a major component of the overall reserves.

Forex reserves continue fall

April 11, 2021 01:13 IST

In the previous week ended March 26, the reserves had decreased by $2.986 billion to $579.285 billion. The forex kitty had touched a record high of $590.185 billion in the week ended January 29, 2021.

Under an air bubble pact between two countries, special international passenger flights can be operated by their airlines into each other’s territories under restrictive conditions.

Govt finalises air bubble pact with Sri Lanka, total 28 now

April 11, 2021 01:11 IST

With this, India now has such pacts with 28 countries, including Afghanistan, Bahrain, Canada, France, Germany, Iraq, Japan, the Maldives, Nigeria, Qatar, the UAE, the UK and the United States.

The mills had purchased 1014.05 lakh tonnes of cane from farmers for which they had to pay them Rs 32,143.75 crore in accordance with the government-declared Fair and Remunerative Price (FRP) of Rs 2850/tonne. (File Photo)

Study flags ‘labour issues’ in sugarcane producing statesSubscriber Only

April 11, 2021 01:02 IST

A recent study has raised the issue of “ambiguity about definitions of child labour and forced labour” related laws in India, especially for sugarcane producing states of Bihar, Karnataka, Maharashtra, Punjab, and Uttar Pradesh.