BUSINESS
Every tourist destination should develop its revenue model: PM Modi
PM Modi said that destination weddings have a huge scope of developing as an ecosystem as India's middle and upper classes are increasingly opting for it.
BUSINESS
Ajay Banga's experience will stand him in good stead at World Bank: FinMin
"Congratulations to Ajay Banga on being nominated to lead World Bank. India supports Banga's nomination and looks forward to his leadership of the World Bank," the Finance Ministry said in a tweet.
BUSINESS
India processing 75% waste, circular economy is foundation of urban development: Modi
"First, we need to strengthen urban planning ecosystem in states. Secondly, private sector expertise needs to be used in urban planning. Thirdly, we need to develop centres of excellence to take urban planning to a new level."
ECONOMY
IMD: India to witness above-normal temperatures from March-May
"Except peninsular parts, all parts are likely to have above normal temperature," the Indian meteorological department said.
BUSINESS
Agri ministry, IMD meeting every month to prepare contingency plan for El Nino impact: Mrutyunjay Mohapatra
IMD provides agro-meteorological advisory services including weather forecasts and crops for each district.
BUSINESS
Exclusive: FinMin completes Vi debt-to-equity conversion, govt holds 33.4% stake
The government does not intend to stay in it for long, and will look for an exit route once the share price is above Rs 10.
ENVIRONMENT
El Nino may trigger a drought-like situation in India, warns DS Pai
Temperatures are rising across the country and predictions are for an increase above normal. Punjab farmers are already worried about the rising temperature and its impact on the wheat crop. A 1 degree Celsius increase in the temperature can hit wheat production by 6 metric tonnes, another expert warns.
BUSINESS
PM Modi exhorts health sector to upgrade manufacturing with tech to reduce import reliance
India’s medical device market is estimated at more than $11 billion (Rs 87,752 crore), with overseas suppliers contributing over 70 percent
BUSINESS
Borrowings by states or their organisations have to be within 3.5% of GSDP: Finance Secretary TV Somanathan
The Union Budget has kept 3.5 percent of gross state domestic product as states' borrowing limit for FY24 which includes a 0.5 percent conditional window linked to power sector reforms.
BUSINESS
PM Modi pushes for solar power, group housing models to reach the last mile
This year’s Budget has paid special attention to taking the mantra of reaching the last mile to tribal and rural areas, the Prime Minister said while addressing a post-budget webinar
BUSINESS
El Nino return can presage lower farm output and higher prices in FY24: FinMin
Some meteorological agencies predict the return of El Nino conditions in India this year.
BUSINESS
Recent innovation in digital finance may pose risk of destabilisation: Modi
The prime minister made the remarks while addressing the first meeting of finance ministers and central bank governors under India's G20 presidency, virtually, on February 24.
BUSINESS
India’s FY24 Union Budget presents huge opportunities for investors in green energy: PM Modi
PM Modi said that FY24 Union Budget will make India a lead player in the renewable energy market globally.
BUSINESS
India may overtake Germany to become 4th largest economy this year: Deepak Bagla
Two-thirds of India’s GDP is driven by domestic demand. Demand is ahead of supply and market forces are driving it, the Invest India chief said.
ECONOMY
India must have contingency plan in place as El Niño threat looms: Experts
NITI Aayog believes Indian agriculture is quite resilient now to such shocks and the share of the crop which is affected by rainfall is declining steadily
BUSINESS
India’s GDP growth likely to trip to 5.9% in FY24 on emerging fault lines: Ind-Ra
Growth may undershoot RBI's estimate of 6.4 per cent due to weak external sector, waning pent-up demand, tighter financial conditions and subdued manufacturing, says the rating firm.
INDIA
India to hold seminar at G20 meeting this week for consensus on crypto assets: DEA Secy
The Indian government is engaging with G20 countries to build international coordination on the policy approach to crypto assets.
BUSINESS
GST Council Meeting: From states' compensation to rate cuts, here are key announcements by FM
Here is a lowdown on the rate cuts proposed and cleared by the Council, including clarification on GST Appellate Tribunal formation.
BUSINESS
GST Council Meeting: Entire compensation cess to states will be cleared, says FM
49th GST Council Meeting 2023: The GST Council has also decided to lower the GST on liquid jaggery, pencil sharpeners, and certain tracking devices, the minister added.
BUSINESS
MC Exclusive: Finance ministry to hold meet on Feb 22 with banks on extension of ECLGS
Heads of banks including State Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, Punjab National Bank and all other public lenders are likely to attend the meet.
BUSINESS
GST Council will take a call on cement rate change: FM Sitharaman
Finance Secretary TV Somanathan added that the tax rate on cement has been similar pre- and post-GST.
BUSINESS
GST Council likely to provide cost relief to coal washeries by extending exemption, say sources
Representations were received regarding the demand of compensation cess on coal rejects sold by the power companies to the washery.
BUSINESS
GST Council likely to approve GoM report on formulation of appellate tribunal: Sources
The Group of Ministers is believed to have recommended having one national GST appellate tribunal with as many benches as may be required, in every state, depending on its size.
BUSINESS
FM Sitharaman: Slowing economies abroad to be a challenge for Indian exporters
Sitharaman said the country is still dependent on component imports and the government is aware of it.
