Subsidies on electricity and water supply, travel by women passengers in buses, and concessional passes comprise around 35 per cent of the budgetary expenditure of the Delhi government, according to a report. The report released recently by the Delhi government’s Directorate of Economics and Statistics covered the budgets of three financial years 2023-24, 2024-25 and...
Category: Business
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In A First, India’s Rocket To Launch Big US Commercial Satellite
Space and atomic energy technology are closely guarded, and in the past Indo-US relations have swung like a pendulum in both these sectors, but now the world’s oldest democracy and the world’s largest democracy are showing signs of tangoing together in a new Indo-US strategic and commercial embrace. In a new milestone, the nuclear...
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Infosys shares climb 3%, m-cap hits Rs 7L crore amid 4-day gains
Shares of Infosys Ltd climbed 3 per cent in Monday’s trade after the IT firm said it received final approval for a settlement concerning certain class action lawsuits filed in the United States. The stock also gained, tracking its ADR movement recently. Rising for the fourth straight session, Infosys rose 3.19 per cent to hit a...
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CCI Takes Cognisance Of Complaint Against IndiGo Over Mass Flight Disruptions
The Competition Commission of India (CCI) has taken cognisance of a complaint filed against budget airline IndiGo over the widespread flight disruptions that affected passengers across multiple routes in recent weeks. In a press release issued on Thursday, the competition watchdog said it had carried out a preliminary assessment of the information placed before it...
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India–US trade deal talks move forward, but Delhi refuses to open agriculture market
India is prepared to step up purchases of American defence equipment, energy supplies and aviation products as part of the ongoing India–US trade deal discussions, but New Delhi has made it clear that agricultural goods from the US will not be given entry under the agreement. According to government sources, India and the US are...
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Paramount’s $108 billion hostile bid for Warner Bros amid Netflix’s merger plans
Paramount Skydance on Monday made a hostile $108.4 billion bid for Warner Bros Discovery, disrupting Warner Bros’ tentative agreement with Netflix in a move aimed at constructing a media giant to rival leading streaming services. This action follows a weeks-long bidding war that saw Netflix, Paramount, and Comcast competing for Warner Bros Discovery’s TV, film studio, and...
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Air India rolls out new fares after govt order on price caps amid IndiGo crisis
The Air India airlines on Monday said it has begun the roll out of new fares, complying with a direction from the government to all airlines to monitor their flight ticket prices. The government order was issued after it took note of airlines charging hefty prices for flights amid mass cancellations of several IndiGo flights over the...
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RBI slashes repo rate by 25 bps to 5.25% from 5.5%
The Reserve Bank of India’s Monetary Policy Committee (MPC) on December 5 decided to reduced the the repo rate by 25 basis point to 5.25% form 5.5% and maintain its “neutral” policy stance, signalling a wait-and-watch approach amid steady inflation and cautious growth The RBI announced a set of liquidity-support measures, including ₹1 lakh crore...
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Centre orders smartphone makers to pre-install Sanchar Saathi app
The Department of Telecommunications (DoT) has issued new directions effective from November 28, mandating all mobile handset manufacturers and importers to pre-install the state-owned cybersecurity app Sanchar Saathi on devices intended for use in India. The implementation must be completed within 90 days and a compliance report has to be filed within 120 days. This...
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GDP grew 8.2% in Q2, fastest in 6 quarters
The Indian economy grew 8.2% in the July-Sept quarter as a strong comeback by the manufacturing sector and robust services activity helped it clock the fastest pace of expansion in six quarters.Strong domestic demand, which drove factories to produce more ahead of the festival season, helped India remain the fastest growing major economy and shrug...