NEW DELHI: Rising global crude oil prices, triggered by the conflict between Israel and Iran, pose a risk for India, a top official said on Wednesday, adding that the impact on the economy, however, would depend on the extent of the increase and how long it lasts.“The current conflict between Israel and Iran may not…
India’s real GDP growth is expected to exceed 6.5% in FY2025–26, while real Gross Value Added (GVA) growth is likely to surpass 6.3%, according to a new outlook released by rating agency Icra on Tuesday.In its report, the agency cited rural demand, income tax relief, and lower EMIs as key factors that would support economic…
India’s real GDP growth is expected to exceed 6.5% in FY2025–26, while real Gross Value Added (GVA) growth is likely to surpass 6.3%, according to a new outlook released by rating agency Icra on Tuesday.In its report, the agency cited rural demand, income tax relief, and lower EMIs as key factors that would support economic…
The rupee depreciated 13 paise to close at 86.47 against the US dollar on Wednesday, hurt by persistent risk-off sentiment, elevated crude oil prices, and geopolitical tensions in the Middle East.The local currency opened at 86.42 at the interbank foreign exchange and saw high intraday volatility, touching a high of 86.25 and a low of…
The Ministry of Finance issued a notification in January, introducing UPS as an alternative under NPS. (AI image) Cheer for UPS subscribers: Central government employees opting for the Unified Pension Scheme or UPS will now be entitled to retirement and death gratuity benefits that were previously available under the Old Pension Scheme (OPS).Union Minister of…
NEW DELHI: Air India will reduce its international services on wide-body aircraft by 15% with immediate effect “at least” till mid-July, reports Saurabh Sinha. AI operates about 70 international flights daily on its wide-body fleet. Multiple factors, including airspace closures, have increased flying times to and from the west and enhanced checks on Boeing 787s…
The number of millionaires in the United States grew by more than 379,000 in 2024 — over 1,000 new dollar millionaires every day — accounting for nearly 40% of global millionaires last year, according to the 2025 Global Wealth Report published by UBS on Wednesday.The report said private wealth rose 4.6% globally, with the Americas…
India’s current account deficit (CAD) faces upward pressure in FY25 amid rising global crude prices, with every $10 per barrel increase in oil potentially worsening the annual CAD by $15 billion, according to a report by Union Bank of India (UBI).The bank has retained its CAD forecast at 0.9% of GDP for FY25, but cautioned…
In a move aimed at boosting long-term foreign investment in Indian debt markets, Sebi on Wednesday approved several compliance relaxations for Foreign Portfolio Investors (FPIs) that invest exclusively in Indian government securities (G-Secs).The decision, taken at the regulator’s board meeting, is expected to simplify onboarding, reduce paperwork, and improve ease of doing business for these…
The Sebi board on Wednesday approved a set of amendments aimed at improving ease of doing business for Real Estate Investment Trusts (REITs), Infrastructure Investment Trusts (InvITs), and merchant bankers. The key changes include greater cash-flow flexibility for REITs and InvITs, a sharper definition of public unitholding, harmonised reporting timelines, and a reduction in the…
