NEW DELHI (Reuters) – India aims to garner 500 billion rupees ($6 billion) through equity stake sales in 2024/25 as privatization of state-run companies takes a backseat before general elections this summer. The government slashed the stake sale target for the current fiscal year to 300 billion rupees from 510 billion rupees as its biggest …
Govt sets equity sales target at 500 billion rupees for 2024/25 Read More »
NEW DELHI (Reuters) – The Indian government will spend a record 11.11 trillion rupees (about $134 billion) on infrastructure creation in 2024/25, to ensure the Asian nation remains one of the world’s fastest growing major economies. The allocation for capital expenditure for the financial year starting April 1 is 11.1% higher than the capex for …
Govt raises 2024/25 capex spend to record 11.11 trln rupees Read More »
NEW DELHI (Reuters) – India will spend 4.55 trillion rupees ($54.84 billion) on subsidies for food, fertilisers and rural employment schemes in the fiscal year starting April 1, down 7% from the current financial year, an official budget document showed on Thursday. The Asian country has budgeted food subsidy for the financial year starting April …
Govt allocates 4.55 trln rupees for food, fertiliser, employment subsidies Read More »
By Nidhi Verma and Mohi Narayan NEW DELHI (Reuters) – India’s crude oil imports from its top supplier Russia fell for a second straight month in January to their lowest in a year as tighter Western sanctions hit supply of light sweet Sokol grade, preliminary ship tracking data showed. The world’s third-biggest oil importer and …
India’s oil imports from Russia hit 12-month low in Jan as sanctions bite Read More »
By Sudarshan Varadhan NEW DELHI (Reuters) – India will start operating new coal-fired power plants with a combined capacity of 13.9 gigawatts (GW) this year, its power ministry said in a statement to Reuters, the highest annual increase in at least six years. Prime Minister Narendra Modi’s government has cited energy security concerns amid surging …
India to increase coal-fired capacity in 2024 by the most in at least 6 years Read More »
By Ira Dugal and Indranil Sarkar BENGALURU (Reuters) – The Reserve Bank of India (RBI) has ordered the payments bank subsidiary of Paytm to stop accepting fresh deposits in its accounts or popular wallets from March, in a major blow to one of the country’s largest payments firms. Paytm shares plunged the daily limit of …
Explainer-What next for Paytm’s banking arm after India central bank clampdown? Read More »
BENGALURU (Reuters) – India’s Prism Johnson reported a profit for the third quarter on Thursday, compared to a loss a year earlier, as the building materials maker benefited from a government push for construction projects ahead of the general elections. The cement and tiles maker said its net profit after tax came in at 17.8 …
India’s Prism Johnson posts quarterly profit on strong construction demand Read More »
By Padraic Halpin and Tim Hepher DUBLIN (Reuters) – India’s fast-growing airline industry faces higher leasing bills unless the country clarifies its insolvency laws, the head of major leasing firm Aviation Capital Group (ACG) said on Wednesday. Foreign lessors, including an Irish subsidiary of U.S.-based ACG, were blocked from recovering jets caught up in the …
ACG says India ‘hurting themselves’ over jet recovery dispute Read More »
By Ira Dugal and Siddhi Nayak BENGALURU (Reuters) -The Reserve Bank of India (RBI) has ordered Paytm Payments Bank, an associate of One 97 Communications, to stop accepting fresh deposits in its accounts or popular wallets from March, in a major blow to one of the country’s largest payments firms. Paytm will take steps immediately …
Indian cenbank stops fresh business at Paytm Payments Bank Read More »
By Anushree Ashish Mukherjee and Ashitha Shivaprasad (Reuters) – Gold prices reversed course and edged lower on Wednesday after the Federal Reserve Chair Jerome Powell pushed back strongly against expectations of a U.S. rate cut by March. Spot gold eased 0.1% at $2,034.37 per ounce by 03:10 p.m. ET (2010 GMT) after rising as much …
Gold drifts lower after Powell pushes back prospect of March rate cut Read More »
