Country Financial News

RK Singh on Sunday said the ministry's aim is to provide enough electricity to power the country's growth even higher than the current levels. «Our mission is to provide electricity so that the Indian economy is able to grow at around 9- 10%» he said while addressing the foundation day of the Central Electricity Authority (CEA). The CEA is the planning cell of the power ministry.

Adani Green Energy, one of India's largest renewable companies, is expanding its solar and wind power capacity. Vneet Jaain, managing director, Adani Green Energy, and director, Adani New Industries, tells Kalpana Pathak that the company plans to invest $3 billion in backward integration to support its plan to more than double its current solar manufacturing capacity. Edited excerpts: You are planning to expand your solar power capacity? Yes.

₹301 trillion and an exchange rate of 83 a dollar. Emails sent to the Prime Minister’s Office and NITI Aayog on Saturday seeking comments for the story remained unanswered. The proposed blueprint comes as India’s efforts to speed up economic growth by capturing a greater share of global production and trade are facing multiple challenges, including tight global financial conditions and geopolitical uncertainties.

cement industry is unable to compete in the overseas markets owing to duty-free imports of the commodity in the country coupled with the duties that domestic producers need to pay for raw materials, the PHD Chamber of Commerce and Industry (PHDCCI) has conveyed to the commerce and industry ministry. The industry body has demanded a reciprocal import duty, along with a correction in the inverted duty structure.

crude oil prices and tightening global monetary conditions pose a risk, said chief economic advisor (CEA) V Anantha Nageswaran. The geopolitical situation needs to be closely watched, he told ET on the sidelines of the International Monetary Fund (IMF) and World Bank meetings in Marrakech, Morocco. «At the moment, we do not see it (developments in West Asia) as something that causes an immediate and significant economic impact, but we will need to watch it closely,» said Nageswaran. He said India's retail inflation is likely to be plus or minus 20 basis points of the Reserve Bank of India's 5.4% forecast for this financial year. A basis point is a hundredth of a percentage point. «But the fact that inflation has come down sharply tells us very clearly that what we experienced in June, July and August was seasonal, rather than something fundamental. Overall, inflation is not a big concern,» said Nageswaran. The CEA said capital investments by the private sector rebounded in 2021-22 and 2022-23.

IMEC) and India-Israel-USA-UAE projects, China has launched dialogue across the region seeking to align BRI with Turkiye's Middle Corridor Initiative. Turkiye had decried IMEC, which is aimed at rivaling BRI in the region and this week's BRI summit in China is expected to witness efforts to align Ankara's Middle Corridor Initiative with BRI. The two sides recently held a high-level dialogue on the issue, ET has learnt. IMEC was announced on the sidelines of the G20 summit here in the presence of leaders of the USA, Saudi Arabia, India and Europe. Trans-Caspian East-West-Middle Corridor Initiative shortly named as 'The Middle Corridor', begins in Turkiye and passes through the Caucasus region via Georgia, Azerbaijan, crosses the Caspian Sea, traverses Central Asia and reaches China, according to a Turkish foreign ministry document.

China's Belt and Road Forum this week is likely to «mainstream» the group in the presence of more than 120 countries invited to the mega gathering. The Taliban leadership will attend a summit for the first time since storming to power in August 2021. The move is also an attempt to create a wedge with India and use the first-mover advantage with the Taliban, according to people in the know. Taliban officials and ministers have at times travelled to regional meetings, but the Belt and Road Forum is the first high-profile summit where Taliban has been invited officially, according to one of the people mentioned above.

Guwahati: In poll bound Mizoram the Assam Rifles has arrested a Myanmar national and seized a huge cache of drugs, valued at Rs 45 crore from his possession. Assam Rifles personnel, acting on secret information, arrested the Myanmar national and recovered 15 kgs of methamphetamine tablets, valued at Rs 45 crore, from him in Zokawthar area in the border Champhai district on Saturday night. The Election Commission, during its recent visit to Mizoram and subsequently, issued several directives to the Central and state law enforcing agencies to further step up their efforts to prevent smuggling from the neighbouring countries or to seize the illegally imported drugs, contrabands and nab the smugglers.

(Reuters) — Israel's military prepared for ground operations in Gaza to root out the Hamas militant group, whose deadly rampage through Israeli border towns last week stunned the nation.

NEW DELHI : Earlier this month, carmaker Hyundai announced plans to offer advanced driver assistance systems (ADAS) across its entire product range in India. Why has it become fashionable to talk about ADAS and what is spurring its growth? Mint explains: ADAS uses a system of sensors, cameras and artificial intelligence to enhance a driver’s ability to drive safely and comfortably. Depending on the degree of automation, ADAS is offered in 5 tiers, with tier 5 being fully autonomous driving.

Lok Sabha MP Nishikant Dubey's «cash for query» allegations against TMC MP Mahua Moitra, Congress leader Harish Rawat on Sunday said that the allegations are nothing but BJP's gimmicks to defame the opposition. Talking to ANI, Rawat said, «They are nothing but BJP's gimmicks to defame the opposition. They are misusing their majority and creating an atmosphere of terror.» The Congress leader further challenged the BJP to suspend all the opposition leaders from the Lok Sabha and said that in a democratic country, the opposition has its own stance and importance. «I want to challenge the BJP to suspend all the opposition leaders from the Lok Sabha and then the world can see your might.

Afghanistan spinner Mujeeb Ur Rahman on Sunday dedicated his team's stunning Cricket World Cup victory over champions England to the victims of the earthquakes which have rocked his country. Mujeeb, 22, was man of the match for his three wickets and 28 runs as Afghanistan shocked England by 69 runs in New Delhi. Earlier Sunday, a magnitude 6.3 earthquake killed two people in western Afghanistan where tremors have claimed at least 1,000 lives this past week. «This is for the people back home who have been affected by the earthquake. As players and as a team, I wanted to dedicate my award to them,» said Mujeeb. He added: «It's a very proud moment to be here in the World Cup beating the last champions, it is a good moment for the whole nation and the team.

NEW DELHI : India may sign a memorandum of understanding (MoU) with its key diplomatic partner Indonesia to sell up to 1 million tonnes (mt) of white rice annually, two government officials said. India’s 20 July ban on non-basmati white rice exports comes even as Indonesia plans to safeguard food security against disruptions caused by the El Nino weather pattern and difficulties with supplies from Vietnam, the current major supplier. Although Indonesia is self-sufficient in rice production, it procures rice through MoUs when there is uncertainty in meeting its domestic demand.

Click here! The Chandrayaan-3's lander successfully touched down near the south pole of the Moon on August 23, making it only the fourth country in the world to achieve the feat of reaching lunar surface after the US, China and the erstwhile Soviet Union. The ISRO chief further said, "Now we are telling you people (to) come and build rockets, satellites and make our nation more powerful in space technology. It is not only ISRO, everybody can do it in space.

₹5,200 and ₹4,460 per tonne, respectively. This is being driven by firm domestic demand for steel as iron ore is a key input used in producing steel. Moreover, it helps that the global iron ore prices are on a strong footing.

NEW DELHI : Mauritius-based offshore funds facing ambiguity over capital gains tax have received a shot in the arm at last following a verdict of the Mumbai bench of the Income Tax Appellate Tribunal (ITAT). In a case about the foreign direct investment of Indium IV Holdings (Mauritius), the tribunal has allowed the fund to carry forward long term capital loss (LTCL) while simultaneously allowing the fund to claim treaty benefit for short term capital gains (STCG).

head towards the southern part of the region, between 10 am and 1 pm local time. Once the deadline exhausted, the IDF warned that it would “implement a wide range of offensive operative plans" in the region to target the Hamas militants. - The ground invasion, which would reportedly involve 10,000 soldiers along with aerial and naval forces, will be set off following “a political decision", military spokesmen Lieutenant Richard Hecht and Daniel Hagari said in a press briefing.

New Delhi: Late last month, a much-awaited milestone in the development of India’s financial markets was reached, when JP Morgan announced it would include a set of Indian government bonds in its widely-tracked global bond index. India’s inclusion in the JP Morgan Government Bond Index–Emerging Markets Global Diversified will happen in June 2024, and, according to estimates by analysts, could lead to inflows of $20-25 billion into the country over a year. If, as a result, India is included in other global emerging market bond indices as well, inflows could be even higher.

Hamas in Gaza will have an impact on the budget but it will be manageable since the country entered the conflict with a very solid fiscal position, Bank of Israel Governor Amir Yaron said on Sunday. In a speech to a G30 panel, Yaron said it was difficult at this time to put exact numbers on how the budget may be affected by the conflict. «But there is no doubt this war will have fiscal implications that will depend on its intensity and duration,» he said in published remarks.

Israel is not interested in having a war on its northern frontier with Lebanon, Defence Minister Yoav Gallant said as tensions mount between the two countries. «We have no interest in a war in the north, we don't want to escalate the situation,» Gallant said in a video released by his office, as he visited troops in the country's south. «If Hezbollah chooses the path of war, it will pay a very heavy price… But if it restrains itself, we'll respect the situation and keep things the way they are, despite them being in a process of shooting from both sides.»

Canada Prime Minister Justin Trudeau on Sunday extended his wishes to the Hindu community on the first day of nine-day festival Navratri amid tensions with India. In a post on X (formerly Twitter), the Canadian PM wrote, «Happy Navratri! I'm sending my warmest wishes to members of the Hindu community and all those who are celebrating this festival.» An official press statement released by the Canadian PM said that over the next nine nights and 10 days, members of the Hindu community in Canada and around the world will gather to celebrate Navratri, reported ANI. «Navratri is one of the most important and sacred festivals in the Hindu faith, commemorating the victory of the goddess Durga over the buffalo-headed demon Mahishasura and the triumph of good over evil.