Business

Agriculture

Israeli drip irrigation system set up in K’taka coffee estate

Bengaluru, Dec 9 (IANS) With the help of the Israeli Consulate, an Israeli drip irrigation system has been installed at a coffee estate in Karnataka’s Sakleshpur to increase productivity of beans, pepper and fruits, an official said on Wednesday.“The advanced automated drip irrigation system of Israeli firm Netafim has been set up as a pilot […]

Industry

Gujarat govt inks pact with Adani for largest logistics park

Gandhinagar, Jan 22 (IANS) The Gujarat government on Friday signed a Memorandum of Understanding (MoU) with the private infrastructure company, Adani Port & SEZ Ltd., to setup the country’s largest multi-modal logistics park at Sanand with an estimated investment of Rs 50,000 crore. The proposed 1,450 acre park will have a dedicated air cargo complex […]

GoAir commences ‘Freedom Sale’, offers 1 mn seats for booking

Mumbai, Jan 22 (IANS) To make air travel more affordable, GoAir on Friday announced a sale for passengers planning their domestic travel this year. As part of its “Freedom Sale”, the airline has made available “one million seats” to book on its domestic network. “Starting at an all-inclusive lowest fare of INR 859, the eight-day […]

DHFL CoC declares Piramal as successful bidder

Mumbai, Jan 22 (IANS) Piramal Enterprises on Friday said that the Committee of Creditors (CoC) of Dewan Housing Finance Corporation Ltd (DHFL) have declared Piramal Capital & Housing Finance Ltd (PCHFL) as the successful bidder for DHFL. In a regulatory filing, Piramal said that the administrator of DHFL has informed the company of the CoC […]

India’s foreign exchange reserves down $1.8 bn

Mumbai, Jan 22 (IANS) India’s foreign exchange reserves declined by $1.839 billion during the week ended January 15. According to the Reserve Bank of India’s weekly statistical supplement, the reserves decreased to $584.242 billion from $586.082 billion reported for the week ended January 8. India’s forex reserves comprise of foreign currency assets (FCAs), gold reserves, […]

Operational restrictions imposed at IGIA ahead of R-Day

New Delhi, Jan 22 (IANS) Operational restrictions have been imposed at the Indira Gandhi International Airport (IGIA), as part of security arrangement for ahead of Republic Day. According to airport sources, landing and takeoff would not be allowed from 10.35 a.m. to 12.15 p.m during January 20-26, excluding January 25. Accordingly, a NOTAM (Notice to […]

Finance

RBI proposes multilayer system, stricter norms for NBFCs (Lead)

Mumbai, Jan 22 (IANS) The Reserve Bank of India (RBI) on Friday proposed a four-layered structure for non-banking finance companies (NBFCs) and new norms to strengthen their governance and operations. The RBI, in a discussion paper, proposed to differentiate between NBFCs depending upon the layer they belong to, such as base and middle. “To sum […]

Yes Bank logs net profit of Rs 151 cr in Oct-Dec quarter

Mumbai, Jan 22 (IANS) Yes Bank on Friday reported a net profit of Rs 151 crore for the quarter ended December 31. During the corresponding quarter of the previous financial year (2019-20), the bank had reported a loss of Rs 18,560 crore. The net interest income of the restructured bank increased by 29.7 per cent […]

Odisha registers 55% increase in export despite Covid

Bhubaneswar, Jan 22 (IANS) Despite the adverse situation caused by Covid-19 pandemic, export from Odisha in the current financial year up to November has registered 55 per cent increase, said Chief Minister Naveen Patnaik on Friday. “I am glad that despite the adverse situation caused by COVID-19 pandemic, export from the State in the current […]

Average flat size increases in top cities in 2020: Report

New Delhi, Jan 21 (IANS) In a major trend reversal in the post-Covid world, the demand for bigger homes has increased across the top cities of India. Data released by Anarock Property Consultants shows that average apartment sizes in the top seven cities have risen by 10 per cent on a yearly basis, to 1,150 […]

Indian realty witness PE investments of $4,068 mn in 2020: Report

Mumbai, Jan 21 (IANS) The real estate sector in India attracted private equity investments of around $4,068 million involving 21 deals in 2020, said a Knight Frank India report. The report noted that India attracted private equity investments to the tune of $38,149 million in total last year and real estate sector accounted for 11 […]

Markets

RIL’s Q3FY21 consolidated net profit rises to Rs 14,894 cr (Ld)

New Delhi, Jan 22 (IANS) Reliance Industries Ltd (RIL) on Friday reported a rise of over 25 per cent in its consolidated net profit for the quarter ended December 31 of FY2020-21 on a year-on-year (YoY) basis. The company’s consolidated net profit during the third quarter of FY21 increased to Rs 14,894 crore from Rs […]

‘Consumer sentiments on India’s economic prospects improve’

New Delhi, Jan 22 (IANS) Sentiments of Indians regarding the economic prospects of the country have improved in January, according to the Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI). The PCSI Economic Expectations Sub-Index for January has increased 3.5 percentage points. The overall consumer confidence increased by 4.7 percentage points in January 2021, said an IPSOS […]

Reliance Jio’s Oct-Dec net profit grows to Rs 3,489 cr on QoQ basis

Mumbai, Jan 22 (IANS) Telecom major Reliance Jio Infocomm on Friday reported a 15.5 per cent growth on a quarter-on-quarter basis in its consolidated net profit for the quarter-ended December to Rs 3,489 crore. During the July-September quarter, the company’s net profit stood at Rs 3,020 crore. The telecom major’s operating revenue during the period […]

RIL’s Q3FY21 consolidated net profit rises to Rs 14,894 cr

New Delhi, Jan 22 (IANS) Reliance Industries Ltd (RIL) on Friday reported a rise of over 25 per cent in its consolidated net profit for the quarter ended December 31 of FY2020-21 on a year-on-year (YoY) basis. Accordingly, the company’s consolidated net profit during the third quarter of FY21 increased to Rs 14,894 crore from […]

Tax remission on electronics exports to curb imports: ICEA

New Delhi, Jan 22 (IANS) As the government emphasises on making India a manufacturing hub for mobile and electronics, the India Cellular & Electronics Association (ICEA) has said that the scheme of Remission of Duties and Taxes on Exported Products (RoDTEP), if implemented in the electronics sector, would lead to import substitution. In a recent […]

Budget

Shri Gaurav Gogoi, MP & Spokesperson criticised government on Budget 2020

Source : Press release INC ( 5th Feb 2020) Shri Gaurav Gogoi, MP & Spokesperson said during press release said there was a lot of expectation with the recent budget after the 2019 mandate of Prime Minister Modi. The people expected huge benefit but neither people got any benefit in the first five years of […]

Budget 2020 Analysis by PRS Legislative Research

Budget Highlights  Expenditure:  The government proposes to spend Rs 30,42,230 crore in 2020-21, which is 12.7% higher than the revised estimate of 2019-20.  Receipts:  The receipts (other than net borrowings) are expected to increase by 16.3% to Rs 22,45,893 crore, owing to higher estimated revenue from disinvestments.    GDP growth:  The government has assumed a nominal […]

Budget 2020 :Shri P. Chidambaram, former Union Minister reaction to Budget

Source : Press Release of INC (1st Feb 2020) Shri Chidambaram said that I am at a loss to understand what was the message intended to be conveyed by Budget 2020-21. I am also not able to recall any memorableidea or statement in the speech” He said the government has given up on reviving the […]

Budget 2020 Summary

Here is the Summary of Budget 2020 presented by Finance Minister Smt. Nirmala Sitharaman on 1st Feb 2020. In the health sector, the Budget proposes more than 20,000 empanelled hospitals under PM Jan Arogya Yojana for poor people; and expansion of Jan Aushadhi Kendra Scheme to all districts offering 2000 medicines and 300 surgicals by […]

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