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Govt unveils reforms that cuts down time and bureaucracy.
India has declared 2025 as the year of defence reforms, aiming to establish integrated theatre commands to enhance synergy among the three armed forces and transform the military into a technologically-advanced combat-ready force. The reforms will also focus on streamlining acquisition procedures, promoting collaboration, and leveraging emerging technologies like artificial intelligence and robotics.
'Inflation is not good for industry. Nor for the economy as a whole.'
Shares of state-owned bank stocks were under pressure on Monday due to muted deposit and credit growth numbers reported by these lenders in the October-December quarter (Q3) of 2024-25 (FY25). The Nifty PSU Bank index was down 4 per cent, with Union Bank of India emerging as the biggest loser as its shares fell 7.5 per cent to close at Rs 114.7, followed by a 5.7 per cent drop in shares of Bank of Baroda (BoB) to Rs 228 and a 4.7 per cent slide in shares of Bank of India to Rs 99.8 on the National Stock Exchange.
IMAGES from the Premier League matches played on Sunday
The Karnataka government is planning to levy a fee of 1-2 per cent on aggregator platforms like Swiggy, Zomato, Flipkart, Amazon, Uber, etc., a government source said on Friday, adding that an announcement in this regard could come following a sub-committee meeting next week. "There is a sub-committee meeting scheduled in the coming week.
'Each state and central government body may be asked to update its system to ensure PAN is used as a common identification to access its services.'
'After his warm and affectionate farewell speech, the Chief of Staff of the formation asked me, "So, now you are off to Coorg to look after your coffee estates?"' For the last time, in Army uniform and much to his surprise, I replied, "Sir, I am not from Kodagu.".'
'Consider 40% to 50% in equities, 10% in gold as a hedge, and the remaining 30% to 40% split between multi-asset funds and hybrid funds.'
India's services sector growth eased to a three-month low in June but service providers continued to signal positive demand trends, which resulted in a stronger increase in new business volumes and further job creation, a monthly survey said on Wednesday. The seasonally adjusted S&P Global India Services PMI Business Activity Index fell from 61.2 in May to 58.5 in June. Despite falling from May, the latest figure was consistent with a sharp pace of growth.
Indian students are looking at destinations that offer quality education coupled with unique cultural and career experiences, often at more affordable costs, says Gaurav Batra, CEO, Infinite Group.
Iran's ambassador to India, Iraj Ilahi, expressed concern about the stability and security of the "whole region" following the collapse of the Syrian government, highlighting Tehran's worries about the potential wider ramifications of the situation. Ilahi also emphasized the importance of promoting tourism between India and Iran, citing their shared cultural heritage and the recent easing of visa restrictions.
The Delhi government has ordered half of its staff to work from home, urging private organizations to follow suit as the national capital faces an alarmingly high level of air pollution. The move comes as Delhi recorded an Air Quality Index (AQI) of 426 in the "severe" category, with residents reporting health issues. Essential services will continue to operate at full capacity. The government has also advised companies to provide shuttle bus services for employees and suggested that private entities consider shifting office hours to reduce traffic congestion.
The Modi government's flagship initiative 'Make in India' launched 10 years ago has helped the country boost exports, push investments and promote manufacturing. Under the initiative, launched on September 25, 2014, a series of measures have been taken by the government to boost local manufacturing. These initiatives include the rollout of production linked incentive (PLI) schemes for 14 sectors, easing foreign direct investment (FDI) norms, reducing compliance burden to improve business climate, all approvals through single window, and rolling out of the national logistics policy.
With India's gig economy projected to double in size, reaching over 10 million workers in the coming years, Ola Electric unveiled its new line of budget-friendly e-scooters, starting at under Rs 40,000. The market responded positively, with Ola Electric's stock rising by 5.67 per cent, closing at Rs 73.47 on the BSE.
In 2024, the Securities and Exchange Board of India (Sebi) implemented significant reforms, focusing on cooling down the derivatives segment, enhancing transparency and accountability in small and midsised enterprise (SME) listings, and deepening the fund management ecosystem.
Tata Sons will likely choose Singapore as a "key partner" for its semiconductor plans, a senior minister from the city-state said on Friday. Speaking to reporters after a meeting with Tata Sons chairman N Chandrasekaran earlier in the day, Singapore's minister for home affairs and law K Shanmugam said semiconductors was a "big discussion" point during the meeting. "If they (Tatas) want to, they can do business with anybody in the world.
Goldman Sachs expects gold to reach $3,150 per ounce in the international market by December 2025, up around 19.1 per cent from its current level of $2,645, according to a recent report in Business Standard. Domestically, gold is trading at Rs 76,018 per 10 grams after delivering a remarkable 21.9 per cent return in the past year.
'Investors with foreign currency-denominated goals, such as foreign education or foreign travel, should go for US equity funds.'
Asia's richest man Mukesh Ambani on Thursday said his oil-to-telecom-and-retail conglomerate is not seeking short-term profit but is in the business of creating wealth for the nation. Speaking at the company's annual shareholder meeting, he said all businesses of Reliance Industries Ltd continue to be key drivers of the Indian economy and have become a success story. "We are not in the business of pursuing short-term profit and hoarding wealth. "We are in the business of creating wealth for India," he said.
The income tax department on Wednesday issued FAQs on changes in the capital gains tax saying the idea behind it was to simplify the tax structure and promote ease of compliance. The holding period for various asset classes for the purpose of short- and long-term capital gains tax has been rationalised. The holding period of all listed assets will be now one year for the purpose of long-term capital gains tax (LTCG).
The Union Finance Ministry on Tuesday said that aggregate business of public sector banks (PSBs) has shown strong growth of 11 per cent in the first half of the financial year 2024-25 (H1FY25) to touch Rs 236 trillion. The operating and net profit were also robust. At Rs 1.5 trillion, operating profit grew by 14.4 per cent year-on-year (Y-o-Y) while the net profit saw an impressive 25.6 per cent jump at Rs 85,520 crore in the first half of FY25.
Even as the high inflation figure for October has ruled out any possibility of a rate cut by the Reserve Bank of India's (RBI's) monetary policy committee (MPC) in December, a rate cut in February also looks uncertain due to global uncertainties. Economists told Business Standard that unless domestic growth slows markedly, the outlook on rate cut remains unclear. India's headline inflation touched a 14-month high of 6.2 per cent in October, breaching the MPC's upper tolerance band of 6 per cent.
India improved its rank on six out of the 10 parameters relating to starting and doing business in a country.
India's economy is likely to grow by 6.5 per cent in the current and the next financial year, an EY report said, attributing lower than anticipated expansion in the September quarter to fall in private consumption expenditure and gross fixed capital formation. Real GDP growth eased to a seven-quarter low of 5.4 per cent in July-September -- the second quarter of the current 2024-25 fiscal year.
India has asked Russia to ease its 'cumbersome and outdated' visa procedures to facilitate travel for businessmen as part of measures to enhance bilateral trade and investment ties.
'Trump has no more elections to fight and his soaring ambition, which is no secret, will be to carve out a presidential legacy that outshines by far all his mediocre predecessors.' 'Trump's turnaround on the H-1B visa debate shows that he can take tough decisions and there are no holy cows in his domain,' asserts Ambassador M K Bhadrakumar.
International Monetary Fund (IMF) Deputy Managing Director (MD) Gita Gopinath has condemned the "terrible and disturbing" incident of rape and murder of a trainee doctor in Kolkata. "Personally, it is terrible to have any event of this kind. It is disturbing," she told Business Standard in New Delhi.
India's manufacturing sector growth fell to an eight-month low in September amid softer increase in factory production, sales and new export orders, a monthly survey said on Tuesday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in August to 56.5 in September, registering the weakest pace of growth since January.
New investors should gradually build a 5 to 10 per cent allocation to gold.
A group comprising top tech startups and unicorns has raised several "serious concerns" over a platform-based gig workers Bill proposed by the Karnataka government, saying it would hurt the ease of doing business. They told the state government the Bill in its current form would hamper operations and increase regulatory and compliance burden on the nascent gig and startup economy, according to sources.
'Investors looking at the next 6-12 months can be certain that the Fed will maintain its easing cycle, and we expect the overall environment to be conducive for fixed income investments for portfolio diversification.'
The government is likely to introduce a bill seeking amendments to the Insurance Act, 1938, during the upcoming Budget session to achieve 'Insurance for All by 2047'. Some of the provisions, which could be part of the amendment bill, include composite license, differential capital, reduction in solvency norms, issuing captive license, change in investment regulations, one-time registration for intermediaries and allowing insurers to distribute other financial products, sources said.
Carlos Alcaraz secured his passage into the fourth round of the Australian Open with a 6-2, 6-4, 6-7(3), 6-3 victory over Nuno Borges.
The Indian startup ecosystem has lauded the inclusion of startups in the New Delhi Leaders' Declaration for the first time ever in the history of G20. Industry stakeholders say that the move will lead to easier access to capital, reduce regulatory hurdles, and may revive funding activity. The Declaration, through the Startup20 initiative, recognised startups as "natural engines of growth" and key to socio-economic transformation by driving innovation and creating employment.
The new guidelines, effective from August 1, aim to expedite visa approvals for nationals from China and other countries sharing land borders with India.
States to come under DIPP watch on ease of doing business.
Finance Minister keen to ease business policies in India.
'Election funding needs a little more transparency.'
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