Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
The US has sanctioned an Indian national based in the United Arab Emirates and two India-based entities for operating as part of Iran's shadow fleet and involved in shipping Iranian oil. The US Department of the Treasury said Jugwinder Singh Brar, who owns multiple shipping companies, operates as part of Iran's shadow fleet, which the US said is used to evade sanctions and transport Iranian oil. Brar also owns or controls India-based shipping company Global Tankers Private Limited and petrochemical sales company B and P Solutions Private Limited. The sanctions come as part of a US campaign of maximum pressure on Iran and target the country's petroleum and petrochemical sectors.
Shaktikanta Das will demit the office on Tuesday after completing six years as the 25th Governor of the Reserve Bank of India. Revenue Secretary Sanjay Malhotra will replace him as the 26th Governor. He was appointed as the Governor on December 12, 2018, after the abrupt exit of Urjit Patel.
'It is not as if Hindus are not being touched at all, and only Muslims are.'
'Indian private universities can provide world-class education at one fourth the cost, home comforts, and direct links to Indian and global industries.'
The United States has temporarily suspended foreign assistance to Pakistan for re-evaluation following an executive order issued by President Donald Trump, according to a media report on Tuesday.
The new wing will be known as the corporate finance investigation department, which will be headed by one of Sebi's executive directors. This department will have information technology solutions experts, particularly to detect the menace of frauds.
'The scrapping of import duty would help Indian companies compete in international markets, thus paving the way for India becoming a space manufacturing hub for the world.'
Reserve Bank Governor Shaktikanta Das on Tuesday said the fiscal-monetary coordination was at its best during the last six years even as he thanked Prime Minister Narendra Modi for giving the opportunity to head the monetary authority of the country. Das, in a series of posts on X, on his last day of his six-year term as RBI Governor, also thanked the Finance Minister, various stakeholders and his colleagues at the central bank.
The number of frauds in the banking sector increased over four times in the past five years to 36,075.
He was a storyteller who made me feel the pulse of history, the stakes of human ambition, and the thrill of a well-told tale. Prem Panicker recalls his debt to Frederick Forsyth, who passed away on Monday.
The Union Budget 2025-26 has allocated over Rs 1,400 crore to the law ministry to meet carry forward expenditure for holding the 2024 Lok Sabha elections and purchase of new electronic voting machines for the Election Commission. The allocation includes Rs 500 crore for the elections, Rs 300 crore for voter identity cards, Rs 597.80 crore for "other election expenses", and Rs 18.72 crore for new EVMs. The law ministry is the nodal agency for the Election Commission, polls, electoral laws, and appointment of members to the poll panel.
The government may save over Rs 70,000 crore (Rs 700 billion) on capital and revenue expenditure allocated towards new schemes in the FY25 Budget that are yet to be implemented.
Agnihotri will be in charge of Jal Shakti, transport, and language, arts and culture departments while Chief Minister Sukhu has kept with himself finance, general administration, home, planning, personnel and other portfolios which have not been allotted to any minister, the notification stated on Tuesday.
Palanivel Thiaga Rajan was on the hit-list, not because the chief minister was unhappy with his performance, but because there were constant complaints from other ministers that he was sitting on their files far too long, observes N Sathiya Moorthy.
Singapore's long-ruling People's Action Party (PAP), led by Prime Minister Lawrence Wong, has secured a landslide victory in the country's general election. The PAP won 87 of 97 seats, with voters endorsing the party's focus on stability and economic security amidst global uncertainties. Wong expressed gratitude for the strong mandate and vowed to tackle concerns about the cost of living and housing. The results mark a significant win for the PAP, which has been in power since Singapore's independence in 1965.
Whether the ambitious targets are achievable is a moot question as India's earlier target was 20,000 MW of nuclear power by 2020.
It will be the second Budget of the Modi 3.0 government and eighth straight Budget for Nirmala Sitharaman, rare in Indian polity.
While India has become the largest data generating nation, and hosts more than 152 data centres, it is fed by only 18 undersea cables.
The CBI, in its FIR, alleged that Mayaram, the UK-based company De La Rue International Ltd and unidentified officials of the finance ministry and RBI hatched a criminal conspiracy to extend undue favour to the firm.
After HPCL, the government headhunter struggled to find a suitable candidate for the top job at Bharat Petroleum, as most applicants were narrow specialists lacking multidisciplinary experience needed to run a large organisation. The Public Enterprise Selection Board (PESB) last month interviewed a dozen candidates including BPCL director (finance) Vetsa Ramakrishna Gupta and its director (refineries) S Khanna but found none suitable for the job of chairman and managing director of Bharat Petroleum Corporation Ltd (BPCL), according to a PESB order.
The finance ministry has asked all ministries and departments not to initiate any new scheme in the current financial year and said that there is a need to use resources prudently in the wake of the COVID-19 crisis. However, funds for schemes under the Pradhan Mantri Garib Kalyan Package, the Aatmanirbhar Bharat Abhiyan package and any other special package or announcement would be allocated, according to an office memorandum by the department of expenditure, which comes under the finance ministry.
Days after cutting the salaries and other allowances of MPs and ministers, the government has passed instructions to all departments to reduce their expenditure by as much as 60 per cent from their first-quarter spending plans.
A man suspected to have contracted Guillain-Barre syndrome (GBS) has died in Maharashtra's Solapur district, while the number of cases of the immunological nerve disorder in Pune rose to 110, health officials said on Monday.
India on Saturday announced plans to amend its nuclear liability law and set up a nuclear energy mission, a move that came ahead of Prime Minister Narendra Modi's likely visit to the United States.
Donald Trump is catering to the basest fears and prejudice of unenlightened Americans -- yes, there are those too, in sizeable enough numbers to elect one of their own as president. That would most certainly not Make America Great Again, asserts Shreekant Sambrani.
ITRs with zero tax liability have increased to 55.7 million in FY25.
JSW Steel, owned by Sajjan Jindal, has emerged as the world's most valuable steelmaker, boasting a market capitalisation (mcap) of nearly $30.31 billion, according to Bloomberg data.
The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
Billionaire Gautam Adani's group has pulled out of a loan deal with a US agency to fund a port terminal in Sri Lanka, saying it will use its own resources for the project. In an exchange filing late on Tuesday, Adani Ports and Special Economic Zone Ltd (APSEZ) said the project "is on track for commissioning by early next year". "The project will be financed through the company's internal accruals and capital management plan," the firm said.
Senior leaders of the Biju Janata Dal (BJD) in India are calling for action against Rajya Sabha MP and national spokesperson Sasmit Patra for allegedly creating confusion among lawmakers regarding the Waqf (Amendment) Bill. The controversy arose after Patra, despite the party's announced opposition to the Bill, revealed he had voted in favor of it and stated that MPs could vote according to their conscience. The situation has led to accusations of a possible "deal" between the BJD and the Bharatiya Janata Party (BJP).
While the capital spending is being maintained at 3.1 per cent of the GDP, a little more would have boosted economic growth even further, suggests Rajiv Memani.
The government has set up a search committee under Union Law Minister Arjun Ram Meghwal to shortlist names for the appointment of the next chief election commissioner, sources said on Monday, citing an order.
By acting now, you can step into 2025 with your finances in order and without unnecessary penalties.
'The voice which came wherever I travelled was that we are proud taxpayers. We are honest taxpayers. We want to continue to serve the country by being good taxpayers.' 'But what do you think about the kind of things you can do for us?'
User protection and a proposal for a licensing framework for companies seeking to operate in the cryptocurrency area will be part of an upcoming consultation paper on the sector, said a senior industry executive. Even as specific regulations around crypto are yet to take shape, companies are setting up baseline user protection processes, including a redressal mechanism, fraud detection, regular filing of suspicious transaction reports (STRs), among others.
'He will be remembered more for what he did as finance minister -- as someone who functioned well when the political fallout was taken care of.'
'The intensity and frequency of heatwaves will be much higher than in previous years over Punjab, Haryana, Rajasthan, Gujarat, Madhya Pradesh and Odisha.'
Punjab Chief Minister Bhagwant Mann on Sunday demanded that Leader of Opposition Partap Singh Bajwa reveal the source of his claim that 50 bombs had reached the state, questioning if he had direct links with Pakistan. Bajwa, who had made the statement in a TV interview, said he cooperated with police but refused to divulge his sources. The police visited Bajwa's residence and questioned him about his statement. Mann also sought a clarification from the Congress party, saying the government will take strict action if Bajwa's statement was meant only to "create panic."
