Data released by the Controller General of Accounts (CGA) on Wednesday showed the deficit in absolute terms was at Rs 17.3 lakh crore compared with 17.5 lakh crore in the previous year. Total receipts rose to Rs 24.6 lakh crore in FY23 compared with government's revised estimates Rs 24.3 lakh crore, an increase of 11.2% over FY22. Fiscal deficit is a difference between revenue and expenditure of the government.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/GdiJ2B7
He also said that the moderation in commodity prices augurs well for inflation, with retail inflation expected to ease to around 4%, the mid-point of 2-6% target for the RBI's monetary policy committee. Retail inflation has cooled down to 4.7% in April after topping 6%, providing cheer to policymakers.
The cheapest 24-hour advance purchase ticket to Leh from Mumbai is Rs 22,500, and Rs 20,000 to Kochi. The conventionally expensive eastern and north-eastern destinations are cheaper, with Mumbai-Kolkata at Rs 7,200, Bagdogra at Rs 8,300, and so on. The fare from Mumbai to Delhi is an incredible low Rs 4,700, One-day advance fares are expected to be pricey, but what stands out is the quantum jump for non-stop flights on certain routes.
Tata Consultancy Services (TCS) has started sending memos to employees who are not completing at least 12 days of work from the office in a month. The company has said in the memo that disciplinary proceedings will be initiated if they do not adhere to the roster.
Yes Bank MD & CEO Prashant Kumar said the last three years have been transformative for the institution and that it was focused on reinvigorating the brand. "Yes Bank vows to be responsive, agile, transparent, innovative, and uphold high integrity in all aspects, aligned with its corporate social responsibility (CSR) ethos," said Kumar.
The unemployment rate during the January-March quarter of 2023 eased to at least a five-quarter low. The rate had accelerated sharply during the Covid-19 pandemic as curbs were imposed to prevent the spread of the deadly virus. The rate for workers above 15 years has been slowing since the lifting of the curbs. In the October-December 2022 quarter, the rate was 7.2% similar to the rate in July-September 2022.
Banks invest around a fifth of their deposits in government bonds. However, they can avoid making MTM provisions on the bonds they classify as 'held to maturity' (HTM). However, banks have to provide for a fall in the market value of bonds in their trading or 'available for sale' portfolio.
China's recent efforts to moderate malicious online content has resulted in action taken against over 1 million social media posts and accounts. The crackdown, which began in March, prompted the permanent ban of 66,000 accounts and the censure of 928,000 others, along with the handling of 1.41 million online posts.
Lloyd’s Register, a maritime services company, has informed Gatik Ship Management, a major carrier of Russian oil since the Ukraine war, that it will withdraw certification of 21 of its vessels by June 3. This is the latest setback for Gatik, which has also been forced to find new flags for 36 of its ships after being deflagged by the St. Kitts & Nevis International Ship Registry.
Credit rating agency Fitch has put the US' AAA credit rating on negative watch, indicating possible downgrade if lawmakers fail to raise the amount that Treasury can borrow. This could occur as soon as next week with the proposed X-date, June 1st.
US stocks fell, with the S&P 500 and the Dow Jones Industrial Average both down by 0.73% and 0.77%, respectively. The Nasdaq Composite dropped 0.61%. Discussions between Republicans and the White House over raising the debt ceiling have not yet concluded, triggering investor anxiety as the June 1 deadline approaches.
