BUSINESS
India's fiscal deficit rises to Rs 11.91 lakh crore
The fiscal deficit for the corresponding period of last year was 58.9 per cent of the previous fiscal's target. The government had made an upward revision in the fiscal deficit target for 2022-23 in the Union Budget to Rs 17.55 lakh crore from Rs 16.61 lakh crore. The total revenue receipts for April-January period of 2022-23 were Rs 19.76 lakh crore, which is 81.3 per cent of the revised 2022-23 budget estimate of Rs 24.32 lakh crore.
Combined Index of Eight Core Industries up by 7.8% in Jan 2023
The production of fertilisers, coal, electricity, steel, natural gas, cement and refinery products increased while production of crude oil declined in January 2023 over the corresponding month of last year, said the government data released on Tuesday. ICI measures combined and individual performance of production of eight core industries viz. coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity.
Japan's lower house approves record $836.9 bn budget for FY 2023
A record 36.89 trillion yen ($269.81 billion), the largest amount ever, has been included in the budget for ballooning social security costs in a bid to deal with Japan's rapidly aging population. The government's budget also includes 6.82 trillion yen ($49.88 billion) in defence spending, Xinhua news agency reported.
India-EU FTA to be a game changer: Jaishankar
India's new approach to trade agreements addresses quality, beyond trade barriers, he said while addressing the inaugural session of India Europe Business and Sustainability Conclave. India, he said, is expected to be the only major economy to keep growing in the foreseeable future. I had the opportunity to discuss our bilateral partnerships. Businesses have a primary role.
Bill Gates visits RBI office in Mumbai, holds discussions with Shaktikanta Das
In a tweet, RBI said that Gates went its office during his visit to India, where he is exploring business opportunities in sectors like health and education. Gates had recently indicated that he wants to do business-related activities in India. "Like every other country on the planet, India has limited resources. But it has shown us how the world can still make progress in spite of that constraint," Gates had tweeted on Monday.
ISRO test fires cryogenic engine of its moon mission rocket
According to the space agency, the CE-20 cryogenic engine will power the Cryogenic Upper Stage of the rocket called LVM3-M4. The 25 seconds hot test was conducted on February 24 at the ISRO Propulsion Complex, Mahendragiri in Tamil Nadu. All the propulsion parameters during the test were found satisfactory and closely matched with predictions.
Reliance Jio to bring 5G to every Indian by Dec 2023: Akash Ambani
Addressing a post-budget webinar coordinated by the Ministry of Electronics and IT (MeitY) and Department of Promotion of Industry and Internal Trade (DPIIT), he added that this will be the world's fastest 5G rollout.Jio has deployed "more than 40,000 sites and nearly 2,50,000 cells of 5G network in 700 Mhz as well as in the 3500Mhz band. We are on the path.
'India's economic indicators show re-acceleration'
In a report, Morgan Stanley said the growth indicators for India had slowed post the festive season in October in a fairly broad-based manner raising investors' concern. "However, growth indicators have started to show signs of re-acceleration in early 2023," it notes.According to Morgan Stanley, healthy household balance sheets and a pickup in private and public capex.
Shree Cement, Dalmia Cement (Bharat) among successful bidders for coal mines
A total of 10 coal mines were put up for forward auction, out of which Shree Cement got Datima mine in Chhattisgarh while Dalmia Cement (Bharat) secured Mandla North mine in Madhya Pradesh. CG Natural Resources Private Ltd, Rama Cement Industries Private Ltd and Orissa Metallurgical Industry Private Ltd were some of the other successful bidders.
Air India CEO says airline reporting all cases of unruly behaviour
Addressing a virtual conference on Monday, the airline CEO talked on a host of issues, including the Air India-Vistara merger and the matter surrounding the peeing incident and unruly passengers. He informed that incidents of unruly behaviour by inebriated passengers are quite frequent, adding that the airline has now become strict and is reporting all such cases of unruly behaviour.
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