City New Delhi Financial News

NEW DELHI : The government on Sunday named former vice chairman of Niti Aayog and Columbia University professor Arvind Panagariya as the chairman of the Sixteenth Finance Commission (SFC), a constitutional body. Mint takes a look at what to expect from the SFC. Finance commissions are independent constitutional bodies with a key role to play in the division of the Centre’s net tax proceeds between Central and state governments keeping in mind the fiscal needs of the states.

public sector and have been rewarded handsomely for their efforts. Public sector enterprises are leading the market capitalisation sweepstakes on specific government policies, and the expectation of policy continuity is fanning the exuberance. NTPC and Coal India have benefited from India's stand at climate talks that coal should not be singled out among fossil fuels for cutback commitments.

NEW DELHI : Domestic air traffic reached its highest monthly record in December, and is expected to soar past pre-covid levels with more people in India opting to travel by air even as fares increase. About 13.8 million passengers travelled by air in December, as per a back-of-the-envelope calculation based on daily domestic air traffic data shared by the civil aviation ministry. That beats the earlier high of 13.2 million passengers recorded in May.

Pakistan on Monday exchanged a list of their nuclear installations under a bilateral pact signed in 1988 and came into force in 1991 that prohibits the two countries from attacking each other's atomic facilities. The list of nuclear installations and facilities, covered under the provisions of the Agreement on the Prohibition of Attack Against Nuclear Installations and Facilities, were simultaneously exchanged in New Delhi and Islamabad through diplomatic channels, the Ministry of External Affairs (MEA) said.

DELHI: Continuing with an over three-decade practice, India and Pakistan on Monday exchanged a list of their nuclear installations under a bilateral pact that prohibits the two sides from attacking each other's atomic facilities. The exchange of the list took place under the provisions of an agreement on the prohibition of attack against nuclear installations and facilities, the ministry of external affairs (MEA) said. It was done simultaneously through diplomatic channels in New Delhi and Islamabad. «India and Pakistan today exchanged, through diplomatic channels simultaneously at New Delhi and Islamabad, the list of nuclear installations and facilities, covered under the agreement on the prohibition of attack against nuclear installations and facilities between India and Pakistan,» the MEA said. The agreement was signed on December 31, 1988 and entered into force on January 27, 1991.

NEW DELHI : Every time a year departs, it leaves us with some questions and some answers. But 2023 seems to be an exception. This year, there were fewer answers than questions.

chief secretaries against resorting to «freebies» and is pushing them to increase capital expenditure instead, ET has gathered. At the third National Conference of Chief Secretaries held last week in New Delhi, top state government officials were advised to guide the ruling politicians against «freebies». The suggestion from the Centre comes as the country heads into a big election year, sparking another potential round of poll promises.

New Delhi: India is considering proposals to connect Bangladesh’s strategically important Matarbari port to northeastern states, according to people aware of the matter. Bangladesh expects to boost exports once the country’s first deep sea port is built at Matarbari with assistance from Japan. The port will enhance exports to Southeast Asia, and other Asian markets, and improve its capability to handle cargo from international markets.

NEW DELHI : India’s first indigenously developed vaccine for the prevention of cervical cancer has the same efficacy as those procured from other countries, according to a recent study published in the medical journal Lancet. Serum Institute of India developed the vaccine, called Cervavac, to be administered to youngsters between ages 9 and 26. The vaccine, rolled out earlier this year, is available in private hospitals, where the cost has been set at ₹1,400-1,600.

Mint examines the reasons and implications. The BRICs grouping, during its summit in South Africa in August, invited six countries including Argentina to join it as permanent members, effective 1 January, 2024. On Saturday, though, Argentina’s newly elected government announced it would not be taking up on the offer.

NEW DELHI : Describing 2023 as a year of ‘special achievements’, Prime Minister Narendra Modi on Sunday said the country is replete with self-confidence and the momentum should continue in 2024. Addressing the nation through the ‘Mann Ki Baat’ broadcast, Modi mentioned the G20 summit, passing of the Women’s Reservation Bill in Parliament, landing of Chandrayaan-3 on the moon and successes in sports as key achievements this year. “Today every corner of India is brimming with self-confidence, imbued with the spirit of a developed India; the spirit of self-reliance.

₹45-50 crore, now mostly hovered at around ₹25 crore. This recalibration wasn’t merely numerical but strategic–a pivot towards robust business models, away from the regulatory quagmires. Venture debt, traditionally a side actor, took centrestage, offering critical support to startups, especially in sectors ripe with innovation such as electric vehicles and companies heavy on research and development.

January

Vinesh Phogat left her Khel Ratna and Arjuna Awards on a pavement at Kartavya Path in New Delhi. Earlier this week, the wrestler though a social media post had said that she has decided to return her Khel Ratna and Arjuna award saying that such honours have become meaningless in the current situation where the grapplers are struggling badly for justice.

Republic Day, which falls on Friday this year, is the only national holiday when banks will be closed for long weekend as it is followed by fourth Saturday and Sunday. List of long weekends in 2024: Plan your holiday trips now to save money in the new year Here is a look at bank holidays in January 2024 across states: January 1 (Monday) New Year’s Day- Banks are closed in Mizoram, Tamil Nadu, Sikkim, Arunachal Pradesh, Manipur, Nagaland, and Meghalaya these states will be closed on January 1 on the occasion of New Year’s Day. January 2 ( Tuesday) New Year’s Celebration: Banks will be closed in Mizoram. January 11 (Thursday), Missionary Day: Banks closed in Mizoram. January 15 (Monday); Uttarayana Punyakala/Makara Sankranti Festival/Maghe Sankranti/Pongal/Magh Bihu- Banks closed in Karnataka, Orissa, Tamil Nadu, Andhra Pradesh, Telangana, Sikkim, Assam. January 16 (Tuesday); Thiruvalluvar Day- Banks closed Tamil Nadu. January 17 (Wednesday)- Uzhavar Thirunal/Sri Guru Gobind Singh Ji Birthday- Chandigarh and Tamil Nadu, January 22 (Monday)- Imoinu Iratpa- Banks are closed in Manipur. January 23 (Tuesday)- Gaan-Ngai- Banks are closed in Manipur. January 25 (Thursday)- Thai Poosam/Birthday of Md. Hazarat Ali- Tamil Nadu, Maharashtra, Uttar Pradesh. January 26 (Friday)- Banks are not closed in Tripura, Uttarakhand, Bengal.

Lalan Singh stepped down from his positions on Friday and Nitish Kumar took the reins of JD(U) at the national executive meeting of the party in New Delhi. “We had already announced earlier that Lalan Singh would be removed since he broke 12-13 MLAs off the JD(U) party and he had prepared to make Tejashwi Yadav CM by joining hands with Lalu Yadav but Nitish Kumar got to know it so he pre-empted it and removed Lalan Singh timely," Sushil Modi said. The BJP MP also added that the removal of Lalan Singh is just the “beginning of the game." “A lot of it is left," he remarked.

Dense fog was witnessed in parts of Delhi and nearby regions on Saturday morning, even as visibility improved in several areas. According to news agency ANI, the persistently low visibility has caused disruptions in the arrival and departure times of numerous trains bound for Delhi.

IT ministry to block their URLs for not adhering to regulatory norms is expected to level the playing field, Indian crypto exchanges have said. The move may lead to a resurgence in Indian exchanges, they said, as many investors who had shifted to trading on global exchanges to save on tax are expected to return to local ones now. «The major impact will be on the trading activities on the foreign crypto bourses, and we may see a significant shift of trading volume to Indian exchanges, which are FIU-compliant,» said Shivam Thakral, CEO of BuyUcoin, India's second-longest-running digital asset exchange. WazirX native token WRX was up 23% at the time of going to press.

NEW DELHI : The ministry of petroleum and natural gas plans to substantially reduce spending on the laying of gas pipelines by leveraging the extensive infrastructure data from the PM Gati Shakti National Master Plan (PMGS-NMP). The PMGS-NMP is a digital platform that maps all infrastructure projects, and contains critical information ranging from rail, port, and road connectivity to gas pipelines and optic fibre in India. It is overseen by the Department for Promotion of Industry and Internal Trade (DPIIT).

economics student from the Class of 2024 at Delhi University's Lady Shri Ram College for Women (LSR) has landed a job with an annual salary of ₹48.9 lakh offered by a global bank for a domestic role. That's a record for the college, and possibly the university, coming as it does amid a market slump and macroeconomic headwinds. At LSR, it's up from last year's high of ₹44 lakh. «The banking firm does not wish to be named,» said Kanika K Ahuja, professor, department of psychology, and convenor of the placement cell at Lady Shri Ram College for Women.

NEW DELHI : Audit watchdog National Financial Reporting Authority (NFRA) on Friday alleged that leading audit firm Walker Chandiok & Co. LLP was directly or indirectly related to some of the Grant Thornton entities, and that it offered prohibited non-audit services to audit clients in two instances. In an order issued after an inspection of Walker Chandiok & Co, NFRA said that firm has also failed in some of the norms relating to client acceptance and continuance.