City New Delhi Financial News

24.01 / 01:15

UPS Target Cooper love Department Vaccines Indigenous bovines a focus as livestock, dairying budget set to rise 20%

NEW DELHI : The animal husbandry and dairying department may get a 20% higher allocation of ₹5,193 crore in the FY25 interim budget, two senior officials said, reflecting a sharper focus on improving dairy and livestock health. The increase is expected on account of a higher allocation for schemes targeted for dairy, livestock health and animal infrastructure—a sector that has been growing at around 8-10% annually.

24.01 / 01:15

UPS Analysis War 2020 Export earning from petroleum products set to decline amid falling crude prices

NEW DELHI : India saw a steep fall in earnings from exports of refined petroleum products in the nine months from April to December 2023 due to declining crude prices, a rise in domestic consumption, and shrinking discounts on Russian oil. According to data from the government’s Niryat portal, exports of chemicals and petroleum products stood at $59.16 billion in April-December 2023, down 12.54% from $67.64 billion in the year-ago period. In April to December 2021, India’s export value of chemicals and petroleum products amounted to $44.28 billion.

23.01 / 22:31

Platform Strategy Netflix Actor Experts show stars OTT superstars driving streaming platform decisions

NEW DELHI : A handful of top OTT stars, who are now seen across premium web originals, have gained so much popularity over the past few years that streaming projects are being mounted on their names. Actors like Manoj Bajpayee, Shefali Shah, and Pankaj Tripathi not only make ₹3-4 crore per title, they are also seen as so bankable in the plateauing OTT ecosystem that platforms are willing to wait until they can come on board. However, industry experts warn a certain fatigue could set in, given that the same faces are seen across shows.

23.01 / 22:31

UPS pandemic shootings reports Features Cheaper loans in rural areas to lift sales: Hero

NEW DELHI : Hero MotoCorp Ltd, India’s largest maker of entry-level motorcycles, expects a “dramatic" drop in interest rates on two-wheeler loans offered by non-banking financial companies (NBFCs) in rural regions—typically marred by defaults—to boost demand for two-wheelers in three-four years, its chief executive Niranjan Gupta said on Tuesday. Gupta said the company is considering adding connected features, which it offers in motorcycles in its premium portfolio, to its entry-level motorcycles, which can make repossessions and traceability easier for financiers. This in turn could lead to lower interest rates and mitigate the impact of the double whammy of high inflation and high interest rates, which has crimped sales in the rural India.

23.01 / 22:31

COST Provident voice Department Airtel prepays ₹8,024 cr in spectrum fees

NEW DELHI : Bharti Airtel Ltd on Tuesday prepaid ₹8,325 crore to the government to clear part of its deferred liabilities for the spectrum it acquired in 2015, the carrier said in a statement to the exchanges. India’s No. 2 telecom services provider said the advance payments would help it save costs.

23.01 / 18:01

Target Fighting Strategy President stage inclusion Can India adopt a G20-style inclusive model for economic reforms?

The delegate had a point. India's G20 presidency was, indeed, a Goldilocks moment on the global stage.

23.01 / 17:31

COST UPS security show Equality record high Direct tax-GDP ratio hits record high in FY23

NEW DELHI : Direct tax revenue as a share of gross domestic product (GDP) touched a record 6.1% in FY23 amid a strong growth in mop-ups and an increase in the number of tax payers, the Central Board of Direct Taxes (CBDT) said on Tuesday. The share of women in the total number of Permanent Account Numbers (PAN), needed for a host of financial transactions, also improved to 41% at the end of March 2023, up from 37.2% at the end of March 2019, suggesting increased participation of women in financial activity, data shared by CBDT showed. Women in the age group of 20-40 years accounted for close to two-fifths of all PAN numbers issued by the end of March 2023.

23.01 / 16:05

UPS Manufacturing pandemic outbreak innovations Vaccines Serum Institute to receive up to $30 mn from global network to make pandemic vaccines

NEW DELHI : Serum Institute of India is set to receive up to $30 million from the Coalition for Epidemic Preparedness Innovations, or CEPI, to expand its vaccine production capability, specifically targeting infections that hold potential to trigger an epidemic or pandemic. “This would then enable CEPI-backed vaccine developers to quickly transfer their technology to SII within days or weeks of an outbreak to begin rapid production and equitable distribution of affordable vaccines to affected populations," SII said in a statement on Tuesday.

23.01 / 16:05

markets UPS performer reports JSW Energy Q3 results: Net profit jumps 28% to ₹231 crore

NEW DELHI : JSW Energy on Tuesday reported over 28% rise in its consolidated net profit to ₹231 crore in the December 2023 quarter on the back of higher revenues. "Profit After Tax for the quarter (October-December 2023) increased by 28 per cent YoY (year-on-year) to ₹231 crore, compared to ₹180 crore in the corresponding period of the previous year," a company statement said.

23.01 / 00:47

markets UPS IPO Digital Aware Food Schools Prosus may have promoter tag in Swiggy’s $1 billion IPO

The Dutch-listed investment arm of South African conglomerate Naspers has been trying to bring its holding in Swiggy to below 26% from the current 33%, but its talks with potential investors haven’t been successful. Under Indian rules, a shareholder with a stake of 26% or more is termed a promoter, which puts restrictions on the shares it could sell after the IPO.

22.01 / 19:33

markets UPS Target Platform Mobile Bill Rooftop solar installations for 10 million households: PM Modi

NEW DELHI : The Union government is set to roll out a new scheme to boost rooftop solar installations, the Pradhan Mantri Suryodaya Yojana, Prime Minister Narendra Modi said on Monday. Taking to X platform, the prime minister said that under the scheme 10 million households would get rooftop solar installations. “Today, on the auspicious occasion of the consecration of life in Ayodhya, my resolve has been further strengthened that the people of India should have their own solar roof top system on the roof of their houses.

22.01 / 18:31

UPS Manufacturing Tesla country social hospital Courts Temples of modern India for manufacturing export

New Delhi is eager that more manufacturing companies choose India as a production hub, and has offered investment sweeteners. The wait is on for the trickle of FDI to turn into a flood. Marquee names, such as Tesla, are being courted.

22.01 / 16:23

Citi security love Celebrity country rights Delhi CM Arvind Kejriwal, Delhi ministers mark Ram Lalla's consecration with 'bhandaras', 'Sundar Kand' recitals

Kejriwal, Cabinet ministers and AAP MLAs took part in various events across the national capital as part of the party's plan to mark the consecration ceremony at the Ram temple in Ayodhya. The AAP organised 'shobha yatras' and 'bhandaras' (community kitchens) in different parts of the city to celebrate the 'Pran Pratistha (consecration)' ceremony. In a post in Hindi on X, Kejriwal said he participated in bhandaras organised in different areas of Delhi.

22.01 / 15:49

Digital Progressive Sustainability President Celebrity country peace Delighted to arrive when India is celebrating second Diwali: UNGA President Francis

Dennis Francis on Monday began a five-day visit to India to discuss with his Indian interlocutors various key issues including geopolitical tensions and New Delhi's engagement with the global body. «Delighted to arrive in New Delhi on an auspicious day when the country is celebrating its 'Second Diwali',» Francis posted on 'X' referring to the inauguration of the grand Ram temple in Ayodhya. «Looking forward to fruitful discussions over the next few days on Peace, Progress, Prosperity and Sustainability!» he said.

22.01 / 14:49

Platform Qualcomm Inside social exclusive Features OnePlus 12 launch: Where and when to watch 'Smooth Beyond Belief' event livestream

OnePlus 12R, scheduled for January 23, 2024. The 'Smooth Beyond Belief' event, taking place at Pragati Maidan, New Delhi, promises an exciting showcase of the latest offerings from the tech giant.

22.01 / 14:27

Aviat CEO Airlines Strategy Enterprise reports travelers InterGlobe Enterprises appoints Udaan’s Aditya Pande as CEO

NEW DELHI : InterGlobe Enterprises, the parent company of India’s largest airline IndiGo, has announced the appointment of Aditya Pande as group chief executive officerwith effect from March. Pande joins the travel conglomerate from Udaan, India’s largest enterprise e-commerce company, where he was chief financial officer the past three years. Udaan announced his resignation on Monday.

22.01 / 03:45

UPS reports donates Ayodhya Ram Mandir donations doubling. How to make online contribution? UPI, Bank details, step-by-step guide here

NDTVProfit reported quoting sources from the temple's trust that donations for the Ram temple in Ayodhya have been rapidly increasing, with contributions doubling every hour. Go to the website of Shri Ram Janmabhoomi Teerth Kshetra Trust Various donation methods are available, including payment gateways, UPI, NEFT, IMPS, demand draft, and cheque payments.

22.01 / 03:01

Waves MET FIVE reports Department gatherings Updates Delhi weather: Severe cold day conditions predicted over North India for next 4-5 days, dense fog disrupts flights

Delhi endured another chilly day, marked by a drop in temperatures and widespread dense fog and cold conditions in northern India disrupted flights in New Delhi. According to the India Meteorological Department (IMD), the minimum temperature reached 4.8°C on Sunday, with the maximum temperature plummeting to 15.8°C. According to the IMD, dense to very dense fog and cold to severe cold day conditions are expected to persist over North India for the next four to five days.

22.01 / 02:07

UPS Cooper Platform Enterprise Diversity Department place Govt’s e-market place set to hit ₹3.5 trillion in GMV

NEW DELHI : The gross merchandise value (GMV) of state-run government e-marketplace (GeM) may be up by 75% and touch ₹3.5 trillion in the current financial year, as government departments have been busy procuring goods and services through the portal, two persons said. The expected GMV will be up by ₹1.5 trillion from the last fiscal’s ₹2 trillion.

22.01 / 02:07

UPS Aware Election wellness Justice More money for women in pre-election budget

NEW DELHI : The women and child welfare ministry may get a 3%-hike in the interim budget to ₹26,212 crore, according to two officials aware of the matter, amid a focus on women ahead of general elections. This outlay is expected to be earmarked for expanding marquee schemes such as Beti Bachao Beti Padhao, Saksham Anganwadi and self help groups (SHG). Women voters are seen as a key constituency for the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) as it aims a third term in office.

22.01 / 02:07

COST UPS Aware country NOT India’s basket of crude price not likely to decline in FY25

NEW DELHI : The price of the Indian basket of crude oil is unlikely to reflect cheap Russian oil prices in the next financial year despite making up a significant chunk of India’s oil imports. The Indian basket of crude oil represents a derived basket comprising of sour grade (Oman & Dubai average) and sweet grade (Brent dated) of crude oil processed in Indian refineries in a ratio of 75.62 : 24.38. Two people aware of the developments said that irrespective of the quantity of Russian oil imports the crude basket price may not include their price as there is no benchmark price of the Russian crude variants.

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