India Financial News

India's fuel consumption rose by 2.6% year-on-year to 19.99 million metric tons in June from a year earlier, data from the Petroleum Planning and Analysis Cell of the oil ministry showed on Monday. India is the world's third-biggest oil importer and consumer. The data is a proxy for the country's oil demand. Prashant Vasisht, vice president and co-head, corporate ratings at India Credit Rating Agency (ICRA), said there had been solid economic growth in India, «and there was a lot of tourist activity this year as compared to last year. Jet fuel has been gradually improving… In the power sector the power supplies were more regular, leading to the farming and agricultural sector being well supplied and that has also led to less dependence on diesel.»

India Inc. has responded favourably to the government's initiative, acknowledging that adopting ESG principles is beneficial for compliance but also enhances long-term business sustainability. Numerous Indian companies are now prioritising initiatives to decrease their carbon footprint, promote social equity, and strengthen governance frameworks. However, these companies must now actively develop capabilities for adjusting to new reporting norms and occasionally realigning their business strategies says advocate Jatinder (Jay) Cheema who serves on the US-India Gas Task Force constituted by the Department of Energy, United States, along with the Ministry of Petroleum and Natural Gas, Government of India. How do you see the Indian government’s push for the ESG and India Inc.’s response to the same?

Oppo Reno 12 5G will be available in an 8GB RAM + 256GB storage variant in India. Meanwhile, the Oppo Reno 12 Pro 5G is expected to come in two configurations: 12GB RAM + 256GB storage and 12GB RAM + 512GB storage.Globally, the base model is sold with a 12GB RAM + 256GB storage option, priced at EUR 499.99 (approximately Rs.

Modi is set to embark on his visit to Mumbai, Maharashtra today. This will be Narendra Modi's first visit to Mumbai since taking the oath as Prime Minister for the third consecutive term on June 9, following the National Democratic Alliance (NDA)'s victory in the Lok Sabha polls. Around 5:30 p.m., the Prime Minister will arrive at the NESCO Exhibition Centre, Goregaon, Mumbai, where he will launch, dedicate to the nation, and lay the foundation stone for multiple projects related to the road, railways, and ports sector worth more than Rs 29,400 crore.

Best ductless chimneys in India: Top 7 picks to upgrade your kitchen and enhance your overall cooking experienceExperience an enhanced cooking journey with the Hindware Smart Appliances Olenna 90 cm Kitchen Chimney, designed with state-of-the-art features. Its Filterless Technology ensures powerful suction, effectively removing smoke from your kitchen.

Delhi High Court has rejected a petition against the Competition Commission of India's last year’s order that approved the merger of Tata SIA Airlines, which operates under the brand name Vistara, with Air India. Tata SIA Airlines is a joint venture between Tata Sons and Singapore Airlines. While one Captain Deepak Kumar, a former Air India pilot, had alleged cartelisation and bid rigging in the merger of the two airlines, the antitrust watchdog had in December dismissed his plea, noting the absence of any substantive evidence to back the allegations.

June against Rs 13,316.81 crore in the corresponding month last year, an improvement of about 11.12 per cent, according to a statement.«During the month of June 2024, originating freight loading of 135.46 MT has been achieved against loading of 123.06 MT in June 2023, which is an improvement of approx 10.07 per cent over the last year,» the Railway Board said in the statement. It added that freight revenue of «Rs 14,798.11 crore was achieved in June against Rs 13,316.81 crore freight earnings in June 2023, thereby showing an improvement of about 11.12 per cent over the last year». The railways achieved loading of 60.27 MT in coal, 8.82 MT in imported coal, 15.07 MT in iron ore, 5.36 MT in pig iron and finished steel, 7.56 MT in cement, 5.28 MT in clinker, 4.21 MT in foodgrain, 5.30 MT in fertiliser, 4.18 MT in mineral oil, 6.97 MT in containers and 10.06 MT in balance other goods during June this year, according to the railway ministry.

ONDC) monthly transaction volumes hit 10 million in June last month with 6.1 million non-mobility transactions and 3.9 million mobility transactions, said Equirus Securities India Equity Research BFSI sector report on July 7. The open network has been adding one million transactions per month over the past two months, exhibiting strong growth, it said. Bulk of this incremental growth has been retail-driven, with non-mobility orders crossing 6 million transactions in June 2024 versus 3.6 million in March 2024,it added. Mobility transactions have declined to 3.9 million from 4.1million in March 2024, the report said.

Hatsun Agro Products Ltd.(up 5.48%), Euro India Fresh Foods Ltd.(up 2.50%), ADF Foods Ltd.(up 2.15%), JHS Svendgaard Laboratories Ltd.(up 1.98%), Hindustan Foods Ltd.(up 1.95%), Dodla Dairy Ltd.(up 1.82%), Nakoda Group Of Industries Ltd.(up 1.22%), Mrs. Bectors Food Specialities Ltd.(up 1.21%), Bikaji Foods International Ltd.(up 0.91%) and Parag Milk Foods Ltd.(up 0.79%) were among the top gainers.

inflation landscape exhibited spatial variability in June 2024, with 12 out of 22 states reporting inflation rates exceeding the national average of 5.1 per cent, according to SBI research. Odisha recorded the highest inflation at 7.22 per cent, followed closely by Bihar at 6.37 per cent and Karnataka at 5.98 per cent. This divergence highlights regional economic disparities as the country grapples with rising prices. Concurrently, the Index of Industrial Production (IIP) surged to a seven-month high of 5.9 per cent in May, reflecting robust growth in mining (5.9 per cent), manufacturing (4.6 per cent), and a remarkable increase in electricity production (13.7 per cent).

In the presence of Professor Rahul Singh, a leading researcher at the India Office of Charitable Affairs, the two parties signed the "Regional Cooperation Memorandum." Ravi Sharma revealed that the World Children’s Fund has forged beneficial partnerships and collaborative projects with various IYDF branches across several countries in the Asia-Pacific region. The Indian WCF enthusiastically endorses and supports the array of humanitarian aid initiatives that IYDF has lined up for India this year.

Police have arrested an Italian farm owner after one of his workers, an undocumented laborer from India, bled to death after his arm was cut off by farm equipment

staffing industry and human resources (HR) industry is anticipating significant tax breaks and increased investment in skill development from the upcoming budget for FY25, which union finance minister Nirmala Sitharaman is expected to present on July 22, 2024. Currently, the Goods and Services Tax (GST) on employment services in India stands at 18%, applicable to a broad range of services, including executive search and recruitment services, permanent placement services, and contract staffing services. According to Suchita Dutta, executive director at the Indian Staffing Federation (ISF), employment-related services should be considered under ‘merit services’ with a 5% GST.

Also read: Ministry of I&B tweaks self-declaration rules for advertisers This is evident from a 12-month survey conducted by McAfee, in which 75% of Indians responded that they encountered some form of deepfake content, with 38% saying they had fallen victim to deepfake scams and 18% directly affected by such fraudulent schemes. Alarmingly, among those targeted, 57% mistook celebrity deepfakes for genuine content.

If you sympathise with these feelings, then we invite you to go through this article where we have curated a list of the best moisturisers for dry skin in India. These moisturisers are used by thousands of people who have showered them with love in their review and comment section. We have picked up only the best and you can find the winner yourself.

The NSE Nifty index traded 27.45 points down at 24296.4, while BSE Sensex was down 119.56 points at 79877.04 as of 10:14AM(IST)on July 08.

₹50,000 for individuals, their spouses, and dependent children, and increasing the limit to ₹1 lakh for senior citizen parents. Additionally, the industry is pushing for tax exemptions on Health Savings Accounts (HSAs). This reform would enable individuals to allocate more resources towards future healthcare expenses, promoting a proactive approach to health and wellness planning."Simmardeep S Gill, MD & CEO, Sterling Hospitals, said, "The upcoming union budget is expected to bring important changes to the healthcare sector, addressing key needs and improving services.

Early stage entrepreneurs are happy about the possibility of the tax going away. “This move will be a game-changer for both early-stage startups and investors," said Bharat Joshi, co-founder of Bengaluru-based fintech startup VuNet Systems, adding that the move could foster a more conducive and positive environment for innovation and growth, and unlock greater opportunities for entrepreneurs.

Budget Expectations: As India eagerly anticipates the Union Budget 2024, one area of keen interest for taxpayers, especially corporates, is the refinement of the faceless assessment scheme. Despite its noble intentions and innovative approach, the implementation of the faceless assessment scheme has encountered several significant challenges, which, if appropriately addressed, can pave the way for meeting the underlying intended objectives and play a pivotal role for ‘Ease of Doing Business’ in India. Typically, in case of large corporate taxpayers, before concluding the assessments, the Faceless Officer calls for copious amounts of data, justification etc. from the taxpayer such, as reconciliation of revenue with the GST returns, reconciliation of information reported on the Insight Portal, details of expenses in pre-defined formats etc. These information requests are often issued close to the statutory deadline for concluding such proceedings, leaving taxpayers with very limited time to provide the reconciliation and the necessary supporting documents, ultimately leading to unwarranted additions.

ONDC) is set to integrate banks such as HDFC Bank, IDFC First Bank and Karnataka Bank, alongside fintech firms like Fibe, in the coming months, said people familiar with the matter. Through this integration, participating banks will offer unsecured personal loans and goods and services tax-based invoice loans, targeting small merchants and retailers in financially underserved regions across the country, they said.

Kishore Jena will hope to fine tune their Olympics preparations in the Paris leg of the prestigious Diamond League one-day meeting series on Sunday. Reigning Olympic and world champion javelin thrower Neeraj Chopra has opted out of the Paris DL apparently due to adductor niggle that has been troubling him for the past couple of months. Both Sable and Jena have not been in the best of forms and have not competed in too many events ahead of the Paris Games but they would be looking to get acclimatised to the conditions of the city which will host the Olympics. Athletics competitions in the Olympics begin on August 1.