In October 2024, Jindal Stainless challenged a Goods and Services Tax (GST) notice in the Delhi high court. It was about corporate guarantees issued to related parties by its former group company, Jindal Stainless (Hisar), before their merger in March 2023.
After Chennai, it is Coimbatore, Madurai, and Tiruchirappalli, that are emerging as manufacturing hubs. Coimbatore is India's top Tier-II city in terms of the number of GCCs, according to a report by Cushman & Wakefield.
Following another disappointing year in 2014, developing countries should see an uptick in growth this year, boosted in part by soft oil prices, a stronger US economy, continued low global interest rates, and receding domestic headwinds in several large emerging markets, it added.
The inward remittances to India has more than doubled from about $12.89 billion in 2000 to $27 billion in 2007. In 2006, inward remittances were $25.43 billion, while the outward flow constituted around $1.58 billion. Rich countries are still the main source of remittances with the United States leading the pack.
A Bob Dylan biopic, Mohanlal's vendetta, super serious Suriya and more on OTT this week.
To enable Indian banks and financial institutions to develop an aircraft-leasing ecosystem at GIFT City, the Ministry of Civil Aviation has sought support from the Ministry of Finance. It has also raised concern over slow progress in developing aircraft leasing in India.
Prime Minister Narendra Modi asserted on Tuesday that India's water will no longer flow outside the country but will be utilized in the nation's interest, a statement seemingly directed at Pakistan following his government's decision to put the Indus Waters Treaty in abeyance after the Pahalgam terror attack. Addressing the ABP Network's 'India@2047' Summit, Modi emphasized his government's focus on interlinking rivers, noting that water used to be a source of conflict among states, before alluding to India's stance against Pakistan while discussing water. He highlighted the finalization of the India-UK free trade agreement as a historic milestone and underscored the importance of prioritizing national interest for achieving objectives and realizing the country's potential. Modi highlighted the country's growth and development under his government's rule, emphasizing its focus on welfare schemes and digitalization. He reiterated his government's commitment to 'Nation First' and pointed to the recent reforms undertaken, including the new Waqf law and the ban on triple talaq, which he said were aimed at benefiting the marginalized sections of society.
India's GDP growth to reach 8% by 2017. says World Bank
In April, the World Bank had projected India's GDP would grow at 6.1 per cent in the current financial year and at 6.7 per cent the following year.
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The World Bank in its report said the relative importance of remittances as a source of external resources is expected to increase further.
'He has been one of the clearest thinkers in the history of business.'
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
Seven World Bank-sponsored projects, worth about Rs 22,426 crore (Rs 224.26 billion), are being implemented across the country to improve delivery in centrally-funded schemes and meet other objectives, the government said on Wednesday.
Disparities in productivity levels across firms within manufacturing sectors is wider in India than in China, Mexico, Russia and Korea, said Mark Dutz, World Bank Senior Economist and editor of the report -- Unleashing India's Innovation.
Clearly, some of the bullishness of the early days has gone missing. Ola's market share is slipping amid rising competition from incumbents like Bajaj Auto and TVS.
World Bank on Thursday said that the Indian economy is likely to grow by 5.5 per cent this fiscal, which can increase to 7-8 per cent in the coming years, provided the reforms are speeded up.
In today's dynamic economic landscape, commerce and management education is crucial for a global career, says Nayagam PP.
State Bank of India, Tech Mahindra, Larsen & Toubro, Tata Steel, Sun Pharma, Infosys, HCL Tech, Axis Bank, Tata Consultancy Services and NTPC were among the biggest laggards among Sensex shares. Nestle, Hindustan Unilever, Titan, Power Grid, UltraTech Cement and ITC were among the gainers.
The central government is on track to meet its fiscal deficit target of 6.4 per cent of the GDP for 2022-23 on the back of strong growth in revenue collections, the World Bank said in its India Development Update on Tuesday. High nominal GDP growth in the first quarter supported strong growth in revenue collection, especially Goods and Services Tax (GST), despite tax cuts on fuel. Notwithstanding an increase in spending due to expanded fertilizer subsidies and food subsidies for vulnerable households in response to the commodity price shock, the government is on track to meet its FY22/23 fiscal deficit target of 6.4 per cent of GDP and the general government deficit is projected to decline to 9.6 per cent from 10.3 per cent in FY21/22 and 13.3 per cent in FY20/21.
Congress leader Salman Khurshid, who is a part of India's diplomatic mission abroad, on Monday said it is 'distressing' that people back home are calculating political allegiances and asked if it is 'so difficult to be patriotic'.
The Cabinet on Wednesday approved $1.5 billion (about Rs 9,000 crore) World Bank support for the Swachh Bharat Mission (SBM) in rural areas.
Two Guinness World Records -- most people performing 'aarti' simultaneously and the largest display of oil lamps -- were set at the eighth edition of Deepotsav in Ayodhya on Wednesday.
The Cabinet Committee on Security (CCS) met on Wednesday under the chairmanship of Prime Minister Narendra Modi and firmed up the responses to the terror attack.
Carlos Alcaraz continued his French Open title defence with a display of breathtaking brutality for a 6-0, 6-1, 6-4 victory over American 12th seed Tommy Paul.
Isn't there something significant in the UPI example for all of us to learn from and execute to enable world-scale success for our startups?, asks Ajit Balakrishnan.
Weak exports and lower investment growth will cut down China's GDP growth, the World Bank said.
The World Bank is eager to double its assistance to India to about $3-4 billion this fiscal, of which $2 billion could be for infrastructure development alone.
'Illegal gambling operators are systematically exploiting India's advertising and payment infrastructure, siphoning off crores of rupees from outside the country.'
'Although we are facing constraints related to lending and resource mobilisation, the government is aware of these.'
Global growth should have a large impact on the poor, says World Bank.
Of this $2 billion is Banking Sector Support Loan, which will provide budgetary support to India, helping it maintain its broad economic stimulus program by enhancing the capital of select public sector banks.
Kamal has a crisp pen when it comes to writing short and yet powerful film dialogues. But while speaking ex tempore -- and that has been his style -- he looks every bit a confused man, observes N Sathiya Moorthy.
The World Bank will give a loan of $1 billion (about Rs 5,000 crore) to power transmission company PGCIL this year for developing infrastructure in the sector.
'India for its survival has to change its doctrine from no first use to a pre-emptive attack in case of any hostile move by Pakistan,' recommends Colonel Anil A Athale (retd).
'Increasingly, they treat gold as a financial asset in their portfolio rather than just as jewellery.'
The loans, under two separate schemes for seven poorest states and seven middle-income states, will benefit the poor as the funds will be utilized to put infrastructure development on the fast track leading to job-creation and stability.
The rupee has held its ground against the US dollar in the 2025 calendar year so far, but depreciated significantly against the euro and pound. It fell by 6.83 per cent, and 5.44 per cent against the euro and pound respectively, as the two currencies strengthened significantly against the greenback during the period.
Soft oil prices are expected to persist in 2015 and will be accompanied by significant real income shifts from oil-exporting to oil-importing countries.
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