CHENNAI: Flagging that “free is the most expensive word in public policy”, chief economic adviser (CEA) Anantha Nageswaran said infrastructure built on the promise of free or below-cost services cannot attract patient capital. “What makes infrastructure worthy of patient capital? There are three conditions: quality infrastructure, contract certainty, and policy certainty. And the fourth, which … Read more
This divestment aims to meet minimum public shareholding norms ahead of schedule. MUMBAI/NEW DELHI: The govt is selling up to 6.5% in LIC, currently worth nearly Rs 35,000 crore ($3.7 billion) through the offer for sale (OFS) route that will be launched on Tuesday and close on Wednesday. The base offer is for 2.5% of … Read more
The Centre has once again revised the windfall tax on fuel exports, raising duties on petrol, diesel and aviation turbine fuel (ATF) for the next fortnight while keeping domestic fuel duties unchanged.According to a finance ministry notification, the revised special additional excise duty (SAED) will come into force from August 3.The SAED on diesel exports … Read more
Oil prices declined on Monday, providing relief to Wall Street by easing concerns that inflationary pressures could intensify further. US stock market today:The S&P 500 gained 1%, extending its recovery after a turbulent July marked by sharp swings. The Dow Jones Industrial Average had advanced 624 points, or 1.2%, while the Nasdaq Composite was up … Read more
Offshore funds seeking tax exemption on their global income will no longer have to comply with conditions such as maintaining at least 25 investors. The government has proposed a major easing of the eligibility norms for Eligible Investment Funds (EIFs) managed from India as part of its efforts to establish the country as a global … Read more
August is set to bring a series of bank holidays, so if you’re planning a visit to your bank branch, it may be worth checking the holiday calendar first. Banks are scheduled to remain closed on different dates across states due to regional festivals and local observances, with the holiday calendar varying from one state … Read more
More than 1.18 lakh Central Government employees and eligible retirees have opted for the Unified Pension Scheme (UPS) since its rollout, the government informed Parliament on Monday.In a written reply in the Lok Sabha, Union finance minister Nirmala Sitharaman said the total number of UPS subscribers stood at 1,18,195 as of July 19, 2026. This … Read more
At 3:15 p.m., continuous trading in eligible stocks will end and the market will move into the CAS. From today, the stock market closing time is changing. The market is now operating with three separate end-of-day timelines. This means that the closing time for different categories of securities and the way closing prices are determined … Read more
Despite softer demand in the domestic market, export orders strengthened in July. India’s manufacturing sector saw its slowest pace of activity expansion in nearly five years in July, according to HSBC India Manufacturing Purchasing Managers’ Index (PMI) data released on Monday.However, the manufacturing activity remained in expansion territory with the seasonally adjusted HSBC India Manufacturing … Read more
Some tankers, including those carrying Russian crude, continue to transit the Bab el-Mandeb Strait. (Reuters photo) Saudi Arabia’s key Red Sea export terminal at Yanbu appeared to witness its busiest day since Houthi threats disrupted regional shipping, while additional vessels continued transiting the Bab el-Mandeb Strait with their tracking systems switched off.While some tankers, including … Read more