Country Financial News

India has slipped to the 85th spot on the Henley Passport Index. India had gone up to 80th position in January when the rankings for 2024 were unveiled. The Henley Passport Index is updated monthly. Six countries still jointly hold the top position in the 2024 Henley Passport Index, offering their citizens visa-free access to a record-breaking number of destinations. The most powerful passports in the world now allow citizens of France, Germany, Italy, Spain, Japan, and Singapore to travel 194 out of 227 destinations worldwide without requiring a visa, according to data from the International Air Transport Association (IATA). Four EU members have joined them at the top: Germany, Italy, Spain, and France.

Prime Minister Narendra Modi on Monday reiterated his government's commitment to support farmers in exploring new avenues in agriculture. Addressing an event in Lucknow in Uttar Pradesh, the prime minister emphasized the importance of working towards a common goal of having Indian food products on dining tables across the globe. His remarks came amid a protest by a section of farmers over their various demands such as a legal guarantee for minimum support price for crops. «We are assisting and encouraging farmers to take our country's agriculture on a new path,» he said.

onion supply until it harvests the next kharif crop, said industry representatives. This will mark a reversal from the current scenario with the country facing a glut in supplies of the bulb vegetable and stable prices amid an export ban. The industry representatives warned of a 30% drop in rabi harvest, potentially leading to a spike in onion prices around Ramadan in early March. Erratic monsoons in 2023, which caused deficient rainfall in Maharashtra, Karnataka, and several other states in peninsular India, have impacted production of key staple foods like pulses, sugar, and onions.

import duty on rubber as of now as the differential between the local and international prices is maintained, a senior official said on Monday. «We have a differential already maintained for the imports that we are getting vis-a-vis the local production. »If you see the local price vis-a-vis international price...so there has been a differential maintained on account of that import duty… So I do not think there is any rethink on reducing import duties as of now," Additional Secretary in the commerce ministry Amardeep Singh Bhatia told reporters here. He was replying to a question about the domestic user industry's demand to cut the duties and that of local producers against any duty reduction. Tyre makers are one of the major consumers of the commodity.

central government has invested Rs 5 lakh crore in the North East since 2014, while Rs 11 lakh crore more will be pumped into the region for its all-round development. This part of the country holds immense investment potential, said the Minister of State for Development of North Eastern Region (DoNER). «Already Rs 5 lakh crore has been invested by the government since 2014. While another Rs 11 lakh crore is underway for the region on developmental projects to improve infrastructure,» Verma told PTI on the sidelines of the North East Investors Summit. FICCI was the industry partner for the summit.

Chandigarh Mayor election, has to be prosecuted as he was interfering with the election process. The apex court quizzed Anil Masih, returning officer for Chandigarh mayoral polls, and asked why he put 'X' marks on ballot papers. Returning Officer Anil Masih said he put 'X' marks on eight 'defaced' ballot papers.

BEIJING (Reuters) -Tourism revenues in China during the Lunar New Year holidays that ended on Saturday surged by 47.3% year-on-year and surpassed 2019 levels, thanks to a domestic travel boom amid a longer-than-usual break, official data showed on Sunday.

By Xinghui Kok and Joe Brock

Mamata Banerjee has not given a single statement till now. Sheikh Shahjahan is still absconding. The police are not able to trace him.

Shivraj Singh Chouhan and Vasundhara Raje may form their own political outfits. "Today, if the ED (Enforcement Directorate) is stopped and section 45 of the PMLA (The Prevention of Money-Laundering Act) is abolished, half of the BJP leaders will quit the party," he said. Chouhan and Raje were overlooked by the BJP for the chief minister posts in Madhya Pradesh and Rajasthan respectively despite ensuring the party's return to power in the assembly polls held recently.

talent passport' lets highly-skilled foreign workers live and work in France for an initial four-year period.

Indian rupee was the most stable of the emerging market currencies in the last year? It's largely the narrowing current account deficit (CAD), besides other strong economic fundamentals. Here's an ET Explainer on how the CAD influences the rupee movement and what are the consequences of a high deficit ratio. What is the current account deficit? A country's current account is a calculation of the total value of goods and services imported and exported. If the value of goods and services imported exceeds the value of goods and services exported then the current account turns into deficit mode. It takes into account the sum of trade balance and net income of companies from abroad. Current account deficit or surplus is expressed as a percentage of a country's gross domestic product.

BJP on Monday slammed West Bengal Chief Minister Mamata Banerjee for questioning the version of some of the complainant women in Sandeshkhali, saying she has made «very cheap» remarks and that it was time to throw out her government. BJP MP Locket Chatterjee said women's protests in Sandeshkhali were spontaneous and there was no politics in it as her party has only tried to protect them and raise their voice. She also claimed that what happened to women in Sandeshkhali was a reminder of atrocities against women in countries like Iraq and Pakistan. The local TMC strongman Shajahan Sheikh, who is seen as a key accused in the complaints of sexual atrocities and land grab, is being protected by Banerjee, the Lok Sabha member alleged.

Vikas Pershad, Fund Manager, M&G Investments, says “one has to think about not just China plus one, but also one plus India. If you are selling into a country, add India; if you are making in another country, you have to think about India now, which I have come around to, I was not a believer in a big way just a couple of years ago.” Markets always follow a style. There is a time when dividend investing will do well. There is a time when growth does well. There is a time when value does well. In the last 18 months, growth has done well in India whether it is some of the defence, cyclicals or infrastructure names and value has made a comeback which is PSU. It is a rarity. Why is that we are seeing a rising tide phenomenon? Vikas Pershad: Before we look abroad, you look internally and look at the retail interest, how the financialisation of savings is happening here in India. Retail investors are now taking money from other sources and putting it into the market and I think that is driving it. You have a lot of people focussed on this market. You have China, on one hand, that has gone from being a specialist market to a generalist market and it is back to being now a specialist market.

Mswipe Technologies on Monday said that it has been granted payment aggregator (PA) licence by the Reserve Bank of India (RBI). This comes after the company received an in-principle nod from the central bank to operate as a PA in August 2022.

India requires long-term effort, a senior US scientist has said and noted cost-intensive technologies such as smog towers and cloud seeding are not sustainable solutions to the pollution problem plaguing the country. In an interview with PTI, Richard Peltier, a member of the World Health Organization's (WHO) Global Air Pollution and Health Technical Advisory Group, said there is a good understanding that air pollution is «really quite bad» across India but precision is lacking due to the limited distribution of air pollution monitors. When asked how much time is needed to control air pollution in cities such as Delhi, he cited the example of the US. The US implemented the Clean Air Act in the 1960s, Peltier said and added only recently has the country developed air quality that is generally considered good.

Bangladesh visa centre will be opened here soon, following the demand of people of the three districts of Assam's Barak Valley, an envoy from the neighbouring country said on Monday. Bangladesh Assistant High Commissioner at Guwahati, Ruhul Amin, said there is considerable demand for visas to Bangladesh from Barak Valley comprising Cachar, Karimganj and Hailakandi districts, and thus it has been decided to open a visa centre here. Silchar is the Cachar district headquarters.

A term plan is as critical a requirement for non-resident Indians (NRIs) as for people living in their home country. It is all the more crucial for NRIs who might be away from their roots but would want to shield their family. With a term plan, you ensure that your loved ones are not burdened with financial liabilities even if you are not around.

The BFSI sector has grown by leaps and bounds, transitioning India from a primarily cash-driven economy to one that is now highly digitised. Fintech, today, has entered the mainstream, focusing on increasing profitability and curtailing risk. The fintech ecosystem has witnessed tremendous technological advancements and is projected to grow sixfold from $245 billion to $1.5 trillion by 2030. The Asia-Pacific region is expected to outpace the US and climb up the ranks to become the world’s leading fintech market by 2030. 

Oil prices edged down on Monday morning as markets digested comments from U.S. Federal Reserve officials pointing to a more patient stance regarding potential interest rate cuts, in thin early trade on what is a public holiday in the United States. Brent crude futures were down 58 cents, or 0.69%, at $82.89 a barrel. U.S. West Texas Intermediate crude was 35 cents, or 0.44%, lower at $78.84 at 0138 GMT.

₹6,000 each year from the treasury. Similarly, during the covid pandemic, the government began providing free foodgrain and edible oil each month to those in need. These schemes are continuing still, and are regarded as great aid in the villages of Uttar Pradesh, Uttarakhand and Bihar, which I have been in direct contact with.