City New Delhi Financial News

Israel, where the offensive in Gaza, now in its fourth month, has caused a shortage of labour. Masons, painters, electricians, plumbers and some farmers said they were looking for jobs in Israel with some willing to risk going into a conflict zone because they could make five times more money in a year than they would at home. «There is unemployment here and it's because of it that people want to leave,» said Lekharam, a mason who was among the workers gathered at a recruitment camp in Rohtak, 66 km (40 miles) from the capital, New Delhi. «If it's in our destiny to die, then we can die either here or there. My hope is that we will go and do good work and spend some time and come back.» India, now the world's most populous nation with a population of 1.4 billion, has an urban unemployment rate of 6.6%, government data shows, but more than 17% of workers younger than 29 are unemployed and others work as casual labour. Unemployment and underemployment are a key concern for authorities, despite world-beating economic growth of 7.3%.

NEW DELHI : India’s horticulture production, including that of vegetables and fruits, was 2.32% higher in financial year 2022-23 at 355.3 million tonnes, according to the agriculture ministry’s third advance estimates issued on Thursday. Production of vegetables is estimated to have increased to 213.88 mt in FY 2022-23 from 209.14 mt in the year prior due to an increase in potato and tomato output. Onion production, however, is estimated to have dropped 4.7% to 30.2 mt in FY23, according to government officials who declined to be identified.

Pran Pratishtha' ceremony at Ayodhya Ram Mandir, the India Meteorological Department (IMD) on Thursday launched a dedicated webpage to provide weather-related information for the holy city and other important nearby areas. The webpage (https://mausam.imd.gov.in/ayodhya/) shows weather information on temperature, precipitation, humidity, and wind patterns for seven days starting January 18 in major languages spoken across the globe including Hindi, English, Urdu, Chinese, French, and Spanish. The webpage not only provides weather-related information for Ayodhya, Prayagraj, Varanasi, Lucknow, New Delhi and Mankapur along with other important places but also provides a seven-day forecast of sunrise and sunset timings in both Hindi and English.

NEW DELHI : The National Company Law Tribunal deferred hearing a case involving low-cost carrier SpiceJet and aircraft lessor Celestial Aviation Services Ltd on Thursday after the two sides informed the court that they were in advanced stages of reaching a settlement. In the previous hearing, SpiceJet had informed the tribunal about making initial payments to the lessor. NCLT is now likely to hear the case in the last week of February.

India Meteorological Department (IMD) has introduced a dedicated weather webpage for the region. This timely initiative, launched with just four days remaining until the grand event, aims to provide attendees and organizers with crucial weather-related information. Multilingual weather data for key locations The newly unveiled webpage offers comprehensive weather updates, covering essential parameters like temperature, precipitation, humidity, and wind patterns.

Vande Bharat train over luggage space. As other passengers in the coach watch, the dispute escalates when a woman intervenes to support one of the men.

CNN reported. The top US diplomat had traveled to Davos for the annual World Economic Forum on Monday and was scheduled to fly back to Washington on Wednesday. A Bloomberg report said the aircraft was a Boeing plane.

shipping companies to notify authorities about any vessels with Indian seafarers taking the troubled Red Sea route and will also ensure easier flow of credit to exporters in view of delays and increase in cargo transport costs. New Delhi is also in talks with Iranian authorities to find a diplomatic solution, officials said. A high-level inter-ministerial group chaired by the commerce secretary Sunil Barthwal, which has officials from ministries of external affairs, defence, shipping ministry and finance, met Wednesday to take stock of the situation and undertake measures to shield domestic industry and ships from the crisis. «MEA is negotiating diplomatically with affected countries to find a credible solution soon,» a government official privy to the deliberations told ET. Another official noted that security protocols had been put in place to secure the troubled route with international collaboration. The official said shipping companies have been directed to notify authorities before they venture towards Europe via the troubled Red Sea route. These protocols have been put in place to ensure safety of Indian seafarers irrespective of the flag on the vessel they are on. At the IMG meeting, defence ministry official said surveillance had been intensified in the Arabian Sea and more mechanisms had been put in place. «Since the route is jointly secured by Western nations and India, the shipping companies now need to take a call on how much movement they want to undertake on the Red sea,» the official said on condition of anonymity, while adding that even if shipping companies do not notify, the government was closely monitoring all activity on the route. Focus on credit support The centre wants to ensure

NEW DELHI : ICICI Prudential Life Insurance on Wednesday reported a flat net profit of ₹227 crore for the third quarter ended December 2023. The company had posted a profit of ₹221 crore in the same quarter a year ago.

India's top electric car maker Tata Motors is urging the government not to cut taxes on hybrid cars as they are more polluting than pure electrics, countering calls from Toyota for lower levies, according to three sources and a company letter. India is promoting electric vehicles (EV) as part of Prime Minister Narendra Modi's drive to reduce pollution, taxing them at just 5%, while the levy on hybrids is as high as 43%, just below the 48% imposed on petrol cars. That has upset the likes of Japanese automaker Toyota, which popularised hybrids with the Prius, and has since last year been urging India to cut taxes on them, saying they reduce carbon emissions compared to gasoline cars.

NEW DELHI : The Union government’s food subsidy bill for fiscal year 2023-24 is likely to overshoot the budgeted estimate of ₹1.97 trillion, prompting the food department to seek additional funds primarily to support its flagship programme. Revised allocation for the ongoing fiscal year is expected to go up by 3% to ₹2.02 trillion, a top official of the department of food and public distribution told Mint.

NEW DELHI : India's top electric car maker Tata Motors is urging the government not to cut taxes on hybrid cars as they are more polluting than pure electrics, countering calls from Toyota for lower levies, according to three sources and a company letter. India is promoting electric vehicles (EV) as part of Prime Minister Narendra Modi's drive to reduce pollution, taxing them at just 5%, while the levy on hybrids is as high as 43%, just below the 48% imposed on petrol cars.

Maharashtra and Karnataka states, a leading industry body said on Wednesday. Maharashtra's sugar production fell to 5.1 million tons from 6.09 million tons, while Karnataka's production dropped 12.7% to 3.1 million tons, the National Federation of Cooperative Sugar Factories said in a statement. Production in the northern state of Uttar Pradesh rose 14.8% to 4.61 million tons as mills started operations early there, it said. India has decided to allow mills to divert up to 1.7 million tons of sugar for ethanol production, government and industry officials said last month, as New Delhi aims to reduce disruptions in its ambitious biofuel programme. With Prime Minister Narendra Modi set to face elections in a few months, India, which is highly sensitive to food inflation, is likely to ban sugar exports, the first restriction on exports since 2016.

Canada to set a cap on international students amid housing crisis, fix 'out of control' system In October, Canada was forced to pull 41 diplomats, or two-thirds of its staff, out of India on orders from New Delhi. In addition, the dispute has prompted Indian students to seek to study in other countries, a spokeswoman for the minister said. Those factors led to an 86% drop in study permits issued to Indians in the fourth quarter of last year from the previous quarter, to 14,910 from 108,940, according to official data that have not been previously reported.

Indian Meteorological Department (IMD) has forecasted that very dense fog conditions likely to continue to prevail over North India for the next four days. The weather agency also noted that severe cold wave conditions, and severe cold day conditions will continue in Delhi and North India. According to Delhi Airport FIDS (Flight Information Display System), a total of 120 flights were delayed both (domestic and international) arrivals and departures, due to dense fog on Wednesday.

GDP growth.” That was the marketing blitz India took to Davos in 2006. The idea was not so much to woo the West overnight as to wean it away from its fascination with China, whose gross domestic product back then was expanding at double-digit rates. Eighteen years later, India is hosting a second coming-of-age party this week at the World Economic Forum in the Swiss Alpine town, though in vastly changed circumstances. For one thing, the most-populous nation no longer needs qualifiers like “the world’s fastest-growing free-market democracy” to highlight its exceptionalism — at 7.3%, it’s expanding quicker than any other major economy. Nor does New Delhi need to apologize for frequent political change.

freezing day as the minimum temperature dropped to 4 degrees Celsius. Several flights departing from the Indira Gandhi International (IGI) airport were delayed. «My flight is more than two hours late due to the bad weather.

Canada issued to Indian students fell sharply late last year after India ejected Canadian diplomats who would process the permits and fewer Indian students applied due to a diplomatic dispute over the murder of a Sikh separatist leader in Canada, a top Canadian official told Reuters. Immigration Minister Marc Miller added in an interview that he believes the number of study permits to Indians is unlikely to rebound soon. Diplomatic tensions erupted after Canada Prime Minister Justin Trudeau in June said there was evidence connecting Indian government agents to the murder of Hardeep Singh Nijjar in British Columbia. Click & check your eligibility for immigration Find out The tensions are likely to weigh on the numbers going forward, Miller said. «Our relationship with India has really halved our ability to process a lot of applications from India,» Miller said. In October, Canada was forced to pull 41 diplomats, or two-thirds of its staff, out of India on orders from New Delhi. In addition, the dispute has prompted Indian students to seek to study in other countries, a spokeswoman for the minister said.

NEW DELHI : The government is set to notify rules that will mandate social media platforms to tackle the menace of deepfakes, after repeated advisories failed to get the desired result, Union minister of state for information technology Rajeev Chandrasekhar said on Tuesday. “We had issued an advisory and we have also said that if we are not satisfied with the compliance, we will notify newly-amended rules that are much more specific to the issue of misinformation and deepfake in particular.

(This story originally appeared in on Jan 16, 2024)

automobile industry will have the highest contribution to the country's rise as the third largest economy, Heavy Industries Minister Mahendra Nath Pandey said Tuesday. Speaking at the auto Production Linked Incentive (PLI) conclave in New Delhi, he said, «India is today the fifth largest economy in the world and soon India will be the third largest economy in the world.