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Nirmala Sitharaman said, terming the growth deceleration in the three months through September to 5.4% as a «temporary blip.» Replying to a debate on the first batch of supplementary demands for grants in the Lok Sabha, the FM also ruled out any «generalised slowdown» in manufacturing, growth in which had slumped to 2.2% in the second quarter. The lower house later approved the first batch of supplementary demand for grants for FY25, involving an additional net spending of ₹44,143 crore.

Directorate General of Foreign Trade (DGFT) does not check the veracity of the documents submitted. The EPCG scheme allows import of capital goods for pre-production, production and post-production at zero customs duty to produce quality goods and services.

Bluey animated film. In her first feature film, Bluey, the puppy and star of the Bafta-winning children's television program, is making her big screen debut, as quoted in a report by BBC. In Australia, Disney+, ABC iView, and ABC Kids will stream it after it opens in theatres in 2027. Disney and BBC Studios, the BBC's commercial division, are collaborating on the project.

RBI) has lifted the business restrictions on Edelweiss Group's NBFCs, ECL Finance and Edelweiss Asset Reconstruction Co (ARC) after being satisfied with the remedial measures put by both companies. “Having satisfied itself based on submissions and remedial measures put in place by these companies to address the concerns of RBI and their commitment to ensure adherence to the regulatory guidelines at all times and on an ongoing basis, the Reserve Bank has decided to lift the afore-mentioned restrictions placed on ECL Finance Limited and Edelweiss Asset Reconstruction Company Limited, with immediate effect,” RBI said in a press release. On May 29, RBI had imposed restrictions on both companies for what it described as 'material' transgressions that allegedly involved 'evergreening of stressed assets'. ECL Finance was directed to cease and desist from undertaking any structured transactions in respect of its wholesale exposures, other than repayment and/ or closure of accounts while Edelweiss ARC was directed to stop acquisition of financial assets including security receipts (SRs) and reorganising the existing SRs into senior and subordinate tranches.

Jindal Saw on Tuesday said it has inked a pact to acquire 31.20 per cent equity in ReNew Green Energy. However, the company did not divulge the financial details of this equity acquisition. In a filing, Jindal Saw said, «It has entered into a share purchase agreement with ReNew Green Energy Solutions Private Limited (RGES) to acquire shareholding up to 31.20 per cent equity share capital in ReNew Green MHH One Private Limited (RGMHH), which resulted RGMHH as an associate of the company». The acquisition is with an objective to procure electricity at a concessional rate, the company said.

The company is a subsidiary of European carmaker Skoda Auto. The price increase will apply to the company's entire portfolio, including the Kushaq, Slavia, Superb, and Kodiaq.

Adani Energy Solutions Ltd (AESL) on Tuesday said it has formed a new subsidiary entity for transmission, distribution and power supply. Adani Energy Solutions Step-Eleven Limited (AESSEL) has been incorporated with the Registrar of Companies, Ahmedabad, Gujarat, on December 17, 2024, and is yet to commence its business operations, the company said in an exchange filing.

The data regarding drugs recalled after failing quality tests is not maintained centrally by the Central Drugs Standard Control Organization (CDSCO). During the year 2023-24 (April to March), 2,988 drug samples were declared not of standard quality while 282 drug samples were found to be spurious or adulterated, she said.

Reserve Bank of India (RBI) on Tuesday lifted the business restrictions imposed on two key entities of the Edelweiss Group, ECL Finance Ltd and Edelweiss Asset Reconstruction Company Limited, with immediate effect. This decision comes after the companies implemented remedial measures to address supervisory concerns raised earlier. On May 29, 2024, the central bank had invoked its powers under the Reserve Bank of India Act, 1934 and the SARFAESI Act, 2002, imposing specific business curbs on the two entities.

Production Linked Incentive (PLI) Schemes for 14 key sectors have been announced with an outlay of Rs 1.97 lakh crore to enhance manufacturing capabilities and exports. «As on August 2024, across 14 sectors, investment of Rs 1.46 lakh crore have been realised, which has resulted in incremental production/sales of over Rs 12.50 lakh crore, employment generation of over 9.5 lakhs, and exports surpassing Rs 4 lakh crore,» he added. Incentives of Rs 2,968 crore in eight sectors and Rs 6,753 crore in nine sectors during 2022-23 and 2023-24, respectively, have been disbursed.

Birla Estates, a wholly owned subsidiary of Aditya Birla Real Estate has acquired a land parcel covering 70.92 acres in Boisar in Maharashtra for Rs 104.3 crore. In September, the company concluded the deal to acquire over 24.5-acre land parcel in Thane’s Kalwa locality from Hindalco Industries for over Rs 537 crore. The board of directors of Hindalco Industries had approved this sale of land in July to Ekamaya Properties, a wholly owned subsidiary of Birla Estates. Prior to that, the developer, formerly known as Century Textiles and Industries, acquired the ownership rights of around 10-acre leasehold land parcel in Mumbai’s prime Worli locality from Wadia Group Chairman Nusli Wadia for Rs 1,100 crore.

precious metals from its free trade agreements (FTA) so as to curb speculative imports, safeguard foreign exchange reserves and protect India’s trade balance and economic resilience, think tank Global Trade Research Initiative (GTRI) said Tuesday. Gold imports reached a staggering $14.9 billion in November 2024, accounting for 21.2% of India’s total merchandise imports of $70 billion and for the first time, gold surpassed crude petroleum as the country’s largest single import item. Most gold enters India as bars and rods with 99.99% purity, but traders are also using other tariff-free or concessional categories to bypass import duties such as platinum alloys from Dubai, gold compounds and noble metal solutions from Japan, and gold and silver jewelry from Indonesia. These routes push actual gold imports to much higher levels than official figures suggest.

Tata Motors on Tuesday said it has won an order for 1,297 bus chassis from Uttar Pradesh State Road Transport Corporation (UPSRTC). This marks the third order for the auto major from UPSRTC in a year, with a cumulative order size of over 3,500 units, Tata Motors said in a statement. The order was won through a competitive e-bidding process and the bus chassis will be delivered in a phased manner under mutually agreed terms, it added. The Tata LPO 1,618 diesel bus chassis is developed specifically for intercity and long-distance travel.

The banking system cash deficit, as measured by banks’ borrowings from the Reserve Bank of India, was at 1.5 trillion rupees ($17.7 billion) as of Monday, the highest since June 24, according to a Bloomberg Economics index. The RBI has been net selling dollars since October, which has resulted in a substantial drain on liquidity, according to IDFC First Bank Ltd.

Maruti Suzuki is reportedly testing a new 7-seater SUV, which said to be inspired by the upcoming electric e-Vitara. Spy photos of the new SUV has surfaced in which a camouflaged version of the vehicle can be seen undergoing testing. This new SUV expands Maruti Suzuki’s current SUV lineup which includes the Fronx, Brezza, Jimny, and Grand Vitara. The new SUV may share the Grand Vitara's platform and powertrains, including the 1.5-liter petrol and strong hybrid petrol engines, reports claimed. However, the 7-seater will have a longer wheelbase to accommodate the extra row. Maruti will likely modify the hybrid setup to maintain boot space.

income tax department on Tuesday said it is sending SMS and emails to taxpayers and non-filers where it has identified mismatch between transactions reported in Annual Information Statement (AIS) and income disclosed in ITRs for the financial years 2023-24 and 2021-22. In a statement, the Central Board of Direct Taxes (CBDT) said it has launched an electronic campaign to assist taxpayers in resolving mismatches between the income and transactions reported in the AIS and those disclosed in Income Tax Returns (ITRs) for the financial years 2023-24 and 2021-22. This campaign also targets individuals who have taxable income or significant high-value transactions reported in their AIS but have not filed ITRs for the respective years. The initiative is part of the implementation of the e-Verification Scheme, 2021.

Aditya Birla Group, capped by entry into the elite $100 billion market capitalisation club. The group’s cement business consolidated its position as the largest in India through multiple acquisitions. It entered paints with a plan to add a massive 40% of the industry’s production capacity. Group company Vodafone Idea, India’s third largest telecom player, raised `18,000 crore through the biggest-ever domestic follow-on public offer. Helmed by 57-year-old Kumar Mangalam Birla — the fourth generation of the Birla family — the group has also forayed into competitive branded jewellery. The jury recognised the outstanding year the group has had, picking Birla as Business Leader of the Year in a unanimous vote. What Kumar has achieved — $100 billion market capitalisation for the group this year — is enormous, said one jury member. Established early in the 20th century by Ghanshyam Das Birla, the group started off in industries critical to nationbuilding, with the next leg of growth — led by Aditya Vikram Birla — focusing on establishing it on the global stage.

Vishakha Mulye was chosen as Businesswoman of the Year for her role in driving growth at the financial services arm of Aditya Birla Group as chief executive of Aditya Birla Capital (ABCL). Mulye, who assumed charge in July 2022 after working at ICICI Bank for 30 years, successfully transitioned the non-banking finance company (NBFC) from a book dominated by large lumpy wholesale clients toward smaller, better-yielding retail clients. In the two-and-a-half years at the helm, Mulye has raised 4,000 crore of capital at the holding company level, selling part of the company’s stake in the broking business, and divesting shares in the asset management company. Additionally, she consolidated the financial services business by merging the NBFC with itself. Under her leadership, the holding company’s assets under management rose to `. 5 lakh crore from `. 3.55 lakh crore, and the consolidated lending book doubled to `. 1.38 lakh crore from `. 67,887 crore. She won the category in a tight vote, indicating the level of the competition among the women nominees. “Vishakha is a very good manager… and is working towards transforming Aditya Birla Capital,” said one jury member.

Lite Bite Foods, which runs restaurant chains Punjab Grill, Street Foods, YouMee and Asia 7, has initiated talks with private equity firms and strategic investors to sell a minority stake in the company, executives with knowledge of the development said. The company's two promoters, Amit Burman of the Dabur family and co-founder Rohit Aggarwal, will continue to hold significant majority stake in the business, according to the executives. «Lite Bite Foods is exploring multiple options to bring in either private equity players or a strategic investor onboard. The talks are in exploratory stages,» according to one executive. The company is looking to accelerate growth at a time when competition in the specialised dining space is heating up and investor interest has accelerated.

Fareed Zakaria emerged as the consensus choice for Global Indian of the Year, a jury member endorsed him by stating, “He undoubtedly does more for India on the global stage than any other Indian.” This recognition is a testament to the prominent Indian-American journalist, political commentator and author’s global renown for his sharp and insightful take on international affairs and complex geopolitical matters. Born on January 20, 1964, in Mumbai, Zakaria hails from a distinguished Konkani Muslim family. Father Rafiq Zakaria was a respected politician and Islamic scholar, while mother Fatma was an accomplished journalist, who worked at The Times of India and elsewhere.

pharma companies and government officials will meet Tuesday to iron out issues regarding over the counter (OTC) drugs. «Appropriate use of OTC drugs improves accessibility and affordability for treatment and prevention of commonly occurring conditions.