RBI sets stage for government, LIC stake sale in IDBI Bank

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Unemployment rate in April-June falls to 7.6%

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Digital logistics initiative to boost services: Commerce and industry ministry

To streamline inter-ministerial coordination of service-related issues in logistics, an institutional mechanism, such as the Network Planning Group under PM GatiShakti, is also under consideration, the ministry added. "Such endeavours are expected to give a significant boost to India's logistics efficiency," it said.

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India Inc's foreign investment declines over 50% in July

As per the RBI data, on Outward Foreign Direct Investment (OFDI), the domestic companies had invested over $2.56 billion in July 2021 in the form of equity, loan and issuances of guarantees.

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No decision yet on extending free foodgrain scheme, says Finance Secretary

The Pradhan Mantri Garib Kalyan Anna Yojana (PM-GKAY) was launched in March 2020 to ease the hardships faced by poor people in the face of the pandemic The scheme is slated to end on September 30.

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Customs to start uniform risk-based scrutiny of imported goods in phases from Sep 5

The Central Board of Indirect Taxes and Customs (CBIC) in a circular to field offices said the National Customs Targeting Centre (NCTC) has developed system generated centralized examination orders for Bills of Entry (BoE), based on various parameters, and this will be rolled out in phases.

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Reliance Capital receives 6 bids at holding company level

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Sensex jumps 1,564 pts to 59.5k as FPIs buy again

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Gautam Adani world's 3rd richest, 1st Asian to enter top three

Indian tycoon Gautam Adani (60), whose business empire extends from infrastructure to airports management and FMCG to cements, Tuesday became the third richest person in the world, behind Tesla's Elon Musk and Amazon's Jeff Bezos. With a net worth of $137.4 billion, Adani is the first Asian to break into the top three on the list. Fellow Indian Mukesh Ambani is at the 11th place.

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EAC-PM report flags regulatory hurdles

It said India's headline GDP growth has been strong and even accelerating but weak social progress, increasing inequality and a lack of convergence across regions suggest that this growth has failed to translate into the expected improvements in quality of life for many Indians.

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Need 7% growth for 25 yrs to be upper mid-income nation: Bibek Debroy

"Even if you have relatively conservative real rates of growth of 7-7.5%, we will get to a per capita income of about $10,000... And you will get to a total size of the economy of a little less than $20 trillion in 2047," Debroy said while releasing 'The Competitiveness Roadmap for India@100'.

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No plans to ban Chinese sub-₹12k phone sales: Rajeev Chandrasekhar

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Govt to fast-track divestment of BEML and SCI

The government is evaluating all prospective candidates and a decision will be taken based on market conditions, the official said, adding that EoIs for the IDBI Bank disinvestment will also be invited soon.

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India’s economy faces resilience test amid rising interest rates

Gross domestic product is estimated to rise 15.4% in the three months to June from a year ago, according to a Bloomberg survey of economists. That’s the fastest reading since the April-June quarter of 2021 and compares with a 4.09 expansion in the previous three months.

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RIL to invest Rs 2 lakh crore in 5G, eyes Diwali metro launch

Reliance Industries (RIL) will invest Rs 2 lakh crore ($25 billion) to roll out 5G services across the country, its chairman Mukesh Ambani announced on Monday. The company's telecom unit Jio will launch the next-generation services this Diwali (which falls in October) in select cities and will expand the coverage across India by December 2023.

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RBI is planning to set up a 'fraud' registry

While there is no definite timeline for setting up of the fraud registry, payment system participants will also be provided access to this registry for near-real time fraud monitoring. The aggregated fraud data will be published to educate customers on emerging risks.

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Darjeeling planters seek anti-dumping duty on Nepal tea

Planters of Darjeeling tea allege that several tea importers are passing on Nepalese tea as Darjeeling tea at much lower prices, causing huge losses to the tea estates in West Bengal's Darjeeling district. Some are also allegedly selling blends of the two teas as the world-famous Darjeeling variety.

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Private banks expand share in remittances by NRIs

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NPCI directs apps not to charge bill payment fees

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Vodafone denies claim that ‘data of 20 million users leaked’

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Women hold 56% of over 46 crore Jan Dhan accounts

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Goa Mopa: Second airports in cities could be costlier

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Govt to include old off-Budget borrowings in its own books

The government has in the last two budgets cleared large off-budget borrowings, including those of the Food Corporation of India (FCI), and now is keen to disclose, or even pay up, some of these liabilities, subject to availability of fiscal space. Borrowings of government institutions HUDCO and NABARD are being looked into, officials told ET.

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'US firms geared up to be part of India's vision to become $30 tn economy'

"I think it's clear that India is going to grow in every decade of the 21st century. It's gonna rise to be one of the biggest economies in the world, if not the biggest economy in the world," Atul Keshap, the president of the US India Business Council (USIBC) told PTI.

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US companies geared up to be part of India's vision to become USD30 trillion economy: USIBC president

Ahead of the India Ideas Summit in New Delhi on September 6 and 7, Keshap, who is headed to India along with top board members of the USIBC and leadership of the US Chambers of Commerce, said that he sees a very bright future for the US-India ties.

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Diesel export falls 11% in July on levy of windfall profit tax

ndia's diesel exports fell by 11 per cent in July and overseas shipment of petrol dropped by 4.5 per cent after the government slapped a windfall profit tax on such sales, official data showed. Diesel exports dropped to 2.18 million tonnes in July from 2.45 million tonnes a month back, data from the Oil Ministry's Petroleum Planning and Analysis Cell showed.

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386 infrastructure projects show cost overruns of Rs 4.7L crore

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Govt bans export of wheat flour, maida, semolina

Russia and Ukraine are the major exporters of wheat, accounting for around one-fourth of the global wheat trade. The war between the two countries has led to global wheat supply chain disruptions, thus increasing the demand for Indian wheat. As a result, the price of wheat in the domestic market has shown an increase.

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'Subsidising EVs alone will not help reduce carbon footprint in India'

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GAIL targets net zero status by 2040

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Burden of pre-poll promises must be borne via budgetary provisions: FM Nirmala Sitharaman

She also called for a debate on freebies. "The debate is not about what constitutes a freebie, but if you have given a promise, provision for it," she added.

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India will grow at 7.4% in FY23 and FY24; not yet time to throw caution to the wind: FM Sitharaman

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Majority of states plan to meet FY23 fiscal deficit targets: Bank of Baroda

A majority of Indian states have budgeted to meet the fiscal deficit target of 3.61 per cent from 3.71 per cent in FY22 revised estimates (RE), as per a report from Bank of Baroda.

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Central banks need to be decisive on inflation, IMF's Gopinath says

Given the risks of inflation becoming embedded, Gopinath said top central banks will need to be uniformly tough despite the possible costs.

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Parliament panel grills Twitter officials over data security, privacy

The Twitter officials denied any such thing having happened and refused there was any data security breach in India, sources in the panel said.

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Dubai asks for more seats on India air routes

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Stuck in debt? This startup can help

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In relief to tenants, AAR allows tax credit on GST paid on upfront lease premium

Till now, tax authorities have been mostly disallowing input tax credit on upfront lease premium, arguing that this transaction is similar to immovable property and since no input tax credit is allowed in any real estate deal the same principal should apply to lease premiums, experts said.

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US appointment delay: Several desi H-1B visa holders unable to visit home

The great US visa appointment crunch has not only made it difficult for desi visa seekers to go there, but also for Indians with H-1B visas working in America to come home on personal visits.

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Q1 GDP growth: High on services and base effect

Indian economy likely grew 15.1% in Q1 of FY23 aided by a favourable base and revival in services as all Covid restrictions were removed.

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Krishnamurthy Subramanian appointed ED for India at IMF

According to an official order issued on Thursday, Subramanian will take over as ED (India) at IMF with effect from November 1, 2022, after the Indian government decided to curtail the tenure of eminent economist Surjit S Bhalla as ED (India), IMF.

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After Benami ruling, all eyes on 'retrospectivity' of Black Money Law

While the I-T Act can be used to claim tax on 10-year old undisclosed income, the Black Money (BM) Act empowers the tax department to go after assets that were acquired decades ago but discovered now.

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Indian vaccine makers grab market share from MNCs

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Irdai eases caps on insurance commissions

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Corp bond dues soar 4x to Rs 40.2 lakh crore in a decade

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RBI allows American Express to add new customers after 16-month ban

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NDTV stock hits 5% upper circuit, closes at Rs 384

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Reliance Retail's bid price for 40,000 T Haryana wheat signals shortage

Hafed, which used to procure wheat only for Food Corporation of India at the minimum support price, had for the first time purchased the grain at market rate this year for the sole purpose of exports. It had procured 1,80,000 tonnes of wheat, paying more than the MSP for exports.

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Govt planning PLI scheme for toys, lab-made gems, bicycles

With the successful rollout of PLI schemes for 14 sectors to create national manufacturing champions, discussions are on to have similar incentives for some more job-creating sectors, officials said. "Talks to include toys, bicycles and lab-grown gems within the PLI umbrella are going on," said an official.

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Twitter reshuffles 'health' team amid spam bot debate

The social media company will combine its health experience team, which works on reducing misinformation and harmful content, with the Twitter service team, which is responsible for reviewing profiles that users report and taking down spam accounts. The new group will be called "Health Products and Services (HPS)," according to the email to employees.

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