City New Delhi Financial News

NEW DELHI : The divergence in gross domestic product (GDP) and gross value added (GVA) data for the third quarter of FY24 could be attributed to reduced fertilizer subsidy disbursements, said a senior government official. India's GDP spiked to a six-quarter high of 8.4% in Q3 FY24, surpassing estimates, while GVA growth stood at 6.5% during the same period, according to data from the statistics ministry.

NEW DELHI : Chipmaker Qualcomm Technologies has entered into a partnership with government-backed Centre for Development of Telematics (C-DOT) to support India-based developers and startups working on innovative products and use cases. The pact, signed at the Mobile World Congress 2024 in Barcelona, Spain, will support C-DOT with expertise and best practices, state-of-the-art technology, intellectual property training and tools, according to a release.

New Delhi, 1st March, 2024: The Indo-American Chamber of Commerce (IACC) announces the India-US Legal Services Summit, the first of its kind, scheduled to be held at The Lalit, New Delhi on 4th March 2024. Organized in collaboration with Bar and Bench, Society of India Law Firms (SILF), Services Export Promotion Council (SEPC), and Chartered Institute of Arbitrators (CIArb), the summit aims to promote cooperation between legal professionals from India and the United States on corporate and legal issues. The Inaugural Session, set to be a distinguished gathering, will be graced by luminaries in the legal fraternity including the Attorney General, Mr.

Rihanna exiting the Jamnagar airport went viral on social media, and the users were quick to remember how she shared a CNN story linked to the 2021 farmers' protest in New Delhi and captioned it as “Why aren’t we talking about this?" The farmers from various states of India launched a protest against the three farm laws introduced by the Union Government in September 2020. Fearing that the implementation of the law might reduce the incomes of the farmers and even create supply chain bottlenecks, a number of farmers' unions in India joined the protest.

NEW DELHI : New Delhi: With the Indian pharmaceutical industry increasingly coming under the scanner globally, the Central Drugs Standard Control Organisation (CDSCO) is conducting a major exercise for improving the quality, safety and efficacy of biological products. The apex drug regulator has come up with the latest guidelines on biological products such as vaccines, biological, and recombinant DNA products that are to be in tune with international guidelines including that of the World Health Organization (WHO) and regulators in other countries.

Bank Holidays in March 2024: Mark your calendars for the following upcoming bank holidays this month of March 2024. All banks will remain closed for at least 14 days in March.

NEW DELHI : The Centre released ₹1.42 trillion in tax devolution to states on Thursday, supplementing the ₹72,961 crore disbursed earlier on 12 February. According to the finance ministry, the funds will allow the states to finance various social welfare measures and infrastructure development schemes. "With this release, states have received total of three instalments of tax devolution in February 2024," it added.

FSSAI on Thursday said it has awarded 'Eat Right Station' certification to 150 railway stations so far for ensuring safe, hygienic and nutritious food options for passengers. In a statement, the health ministry said, «The Food Safety and Standards Authority of India (FSSAI)'s Eat Right Station initiative is making significant strides in ensuring access to safe and healthy food within these bustling hubs.» Till date, 150 railway stations across the country have been certified as 'Eat Right Stations', ensuring safe, hygienic, and nutritious food options for millions of passengers. The 'Eat Right Station' certification process involves rigorous audits of food vendors, training of food handlers, adherence to strict hygiene and sanitation protocols and efforts to raise awareness among individuals to make informed food choices.

13th ministerial conference (MC13) of the World Trade Organization (WTO) got extended and entered into the fifth day as the 166-members couldn’t reach a consensus on key issues of agriculture, fisheries subsidies, ending the moratorium on imposing customs duties on e-commerce transmissions and dispute resolution reform. Moreover, talks on elements on trade inclusiveness, women’s participation in trade, industrial policy and environment, in the draft Abu Dhabi package also remained unresolved. “Members are indicating that additional time will be needed to iron out some of the outstanding issues,” said an official, adding that, for this reason, the informal meeting of heads of delegation and the formal closing session were postponed to Friday.

NEW DELHI : India’s foodgrain production is estimated to be 6.1% lower in the 2023-24 crop year (July-June) because of poor monsoon caused by the El Nino weather phenomenon, potentially adding to inflationary pressures ahead of the general election. Total foodgrain production in 2023-24 is estimated to be 309 million tonnes (mt), according to the second advance estimates issued by the agriculture and farmers’ welfare ministry on Thursday. Foodgrain production in the 2022-23 crop year was pegged at 329.6 mt, as per the government’s final estimates.

NEW DELHI : Indians spent liberally on dining at hotels and restaurants and on alcohol in 2022-23 while going easy on clothing, food and non-alcoholic beverages, clearly marking out their preferences emerging from two years of pandemic lockdowns. Growth in private final consumption expenditure on food and non-alcoholic beverages slowed to 6.2% in FY23 from 6.6% in the year before, show the government’s PFCE data released on Thursday. Private final consumption expenditure is defined as the expenditure incurred by households on final consumption of goods and services, and is reflective of the broader household demand in the country.

NEW DELHI : The Union cabinet has approved ₹75,021 crore towards subsidies for installing solar power equipment on the rooftops of 10 million homes, an ambitious scheme that could result in substantial household savings as well as reduce the strain on electricity grids. Under this scheme, called the PM Surya Ghar Muft Bijli Yojana, the government will provide a financial assistance, or subsidy, of ₹30,000 for installing solar power equipment of 1 kilowatt (kW).

India on Thursday pitched for re-examination of the implications of the customs duties moratorium on e-commerce trade for developing and least developed member nations of the WTO. India is not in favour of further continuation of the moratorium of customs duties on e-commerce trade as it is impacting developing countries. The issue came up for discussion during a session of a work programme on e-commerce at the World Trade Organization's 13th Ministerial Conference, which entered its last day on Thursday.

TADA (Terrorist & Anti-disruptive Activities Act) court in Ajmer today acquitted 1993 serial bomb blasts' main accused Abdul Karim Tunda, more than 30 years after the bomb blasts carried out in five trains across India to coincide with the first anniversary of Babri Masjid demolition in Ayodhya on Dec 6, 1992. «The honourable court has acquitted Abdul Karim Tunda from all the charges. The CBI failed to present any strong evidence against Abdul Karim Tunda,» says Tunda's advocate Shafiktullah Sultani. The TADA court had framed charges against main accused Abdul Karim Tunda and two others — Irfan alias Pappu and Hamiruddin — on Sept 30, 2021, for orchestrating the blasts in Lucknow, Kanpur, Hyderabad, Surat and Mumbai on the intervening night of Dec 5-6, 1993.

Sanjay Raut takes a jibe at the BJP government while talking about Central Vista in New Delhi. “One should see the condition of Central Vista in New Delhi" in a mocking tone Raut told media persons and further added that “The new parliament is like a five-star jail where you can't work." In May 2023, Prime Minister Narendra Modi inaugurated India's new ₹971 crore parliament building in Delhi, accommodating 888 members in the Lok Sabha and 300 in the Rajya Sabha.

India-Oman strategic partnership close on the heels of Sultan Haitham bin Tarik’s India trip, deputy national security adviser Vikram Misri visited Muscat to explore collaboration in different sectors including possible defence exports to the sultanate. During Misri’s visit, discussions were held on strategic, military and security cooperation including defence exports, and maintenance of Oman’s ports apart from cooperation in disaster management, oceanography and artificial intelligence, ET has learnt. The deputy NSA also met Gen Sultan bin Mohammed Al Nomani, minister of the Royal Office in Oman and a key figure in the country’s decision-making process. The two sides also gave a push to a bilateral trade deal which could be concluded in a record time.

New Delhi stating that the nation that has institutionalized the systemic persecution of its minorities and has a truly abysmal human rights record has no right to comment on India. Speaking at the high-level segment of the 55th Regular Session of the UN Human Rights Council, First Secretary Anupama Singh on Wednesday said it is regrettable that the Council's forum has once again been abused to propagate flagrantly false accusations about India.

just ahead of Lok Sabha Elections 2024: The Congress-led Himachal Pradesh government plunged into a crisis after six of its MLAs cross-voted in favour of the Bharatiya Janata Party (BJP) candidate in the Rajya Sabha elections. High-profile leader Vikramaditya Singh resigned as minister, complaining that “MLAs were overlooked" under the Sukhvinder Singh Sukhu-led government in the state.

NEW DELHI : New Delhi: Prime Minister Narenda Modi is set to inaugurate or lay the foundations for 29 projects in the petroleum sector worth ₹1.49 trillion ahead of elections due shortly. Modi will flag off an oil tanker from the ONGC Krishna Godavari deep water project on Saturday, which will carry 'first oil' from the Krishna Godavari Basin to Mangalore Refinery and Petrochemicals Ltd. First oil was produced from the block on 7 January.

NEW DELHI : After Bharat atta and rice, the Union government is planning to launch Bharat masur (lentil) dal – but, at around ₹89 per kg, without a discount – a senior official told Mint. Normally the Bharat brand comes with hefty discounts. The lentil pricing comes despite inflation being in control and with huge quantities of masoor lying in government stocks.

NEW DELHI : New Delhi: India on Monday pressed for the revival of the World Trade Organization's (WTO) appellate body, which has remained defunct for over four years after the US refused to approve its members. At the WTO's ongoing 13th Ministerial Conference (MC13) in Abu Dhabi, India said this should be the top priority for any reform process of the multilateral trade body.