India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
New Delhi, Nov 1 (SocialNews.XYZ) The government is not considering merging dearness allowance (DA) of central government employees with the basic pay, the Parliament was informed on Monday. With increasing speculation over the 8th Central Pay Commission, the Centre has clarified that no proposal is at present under consideration to give any interim relief to the central government employees. While replying to a written query in the Lok Sabha, Minister of State for Finance, Pankaj Chaudhary, said the Centre is not examining any plan to merge the existing dearness allowance with basic pay. "No proposal regarding the merger of the existing dearness allowance with the basic is under consideration with the government at present," he stated. Chaudhary was responding to questions which pointed out that central government employees and pensioners have been battling the highest levels of inflation seen in three decades, arguing that DA and DR revisions are not in sync with the current retail inflation. Employee unions have also been demanding the merger of 50 per cent DA with basic pay, all the more so after the government announced the terms of reference for the 8th CPC earlier in November. Meanwhile, the government recently dismissed a viral social media message that claimed retired government employees would stop receiving dearness allowance (DA) hikes and future pay commission benefits under the Finance Act 2025. "The claim is fake. Rule 37 of the CCS (Pension) Rules, 2021 has been amended to state that if an absorbed PSU employee is dismissed for misconduct, their retirement benefits will be forfeited," the government said in a social media post on X platform. The recent amendment only related to a narrow group under the CCS (Pension) Rules, 2021, where Rule 37(29C) was amended after consultation with the Department of Pension and Pensioners' Welfare and the Ministry of Finance.
Shimla (Himachal Pradesh) [India], December 11 (ANI): A Bharatiya Janata Party (BJP) delegation, led by senior leaders, met Himachal Pradesh Governor Pratap Shukla recently to submit a comprehensive 106-page memorandum titled "Kachcha Chittha". The document, which alleges rampant corruption and administrative failures in the two years of Congress rule under Chief Minister Sukhvinder Singh Sukhu, aims to hold the state government accountable for what the BJP describes as a period of "unprecedented mismanagement and destruction." Speaking to the media after meeting the Governor, Himachal Prade ...Read More >
Mumbai, May 21: The 8th Pay Commission has been officially announced by the Indian government, with no doubt a significant activity for some 1 crore central government employees and pensioners for the consideration of the revisions of salaries and pensions. The primary role of this commission will be to identify the fitment factor, the multiplier used to increase basic pay, and review minimum wages and keep them relevant to the current economic situation. A prominent recommendation from the Staff Side indicates a desire to combine lower pay levels for a fairer wage structure and to facilitate ...Read More >
Patna: Congress leader Rahul Gandhi slammed the Chief Minister Nitish Kumar-led National Democratic Alliance (NDA) government in Bihar over crime, unemployment and migration by writing on social media platform X on Thursday. The post came a day ahead of his visit to the state to participate in 'women-oriented programmes' at Rajgir and Nalanda. He also exhorted the people to "change the cycle of injustice and put Bihar on the path of safety, self-respect and dignity." Rahul's remarks came in the light of the rape of an 11-year-old Dalit girl in a village Muzaffarpur district last week (May 26 ...Read More >
Kolkata, Jun 5 (PTI) Trinamool Congress MP Mahua Moitra on Thursday confirmed her marriage to former Biju Janata Dal (BJD) parliamentarian Pinaki Mishra, thanking well-wishers for their love and blessings. There was speculation about their wedding which, according to media reports, took place in a private ceremony in Germany. "Thank you everyone for the love and good wishes!! So grateful," Moitra said in a post on X, sharing a photograph of the couple cutting a cake. TMC MP and actor-politician Saayoni Ghosh congratulated the couple. "Congratulations Mm & Pm... @MahuaMoitra @OfPinaki wishi ...Read More >
CCI has also approved a 25.18 per cent equity stake in Future Generali India Life Insurance Company Ltd (FGILICL) through a bid/resolution plan submitted by Central Bank of India | Image: Wikimedia Commons State-owned Central Bank of India on Thursday said it has acquired a 25.18 per cent stake in Future Generali India Life Insurance Company Limited (FGILICL) for a cash consideration of Rs 57 crore as part of the insolvency process. With the acquisition of 65,43,80,439 shares on Wednesday (June ...Read More >
The chip makers around the world felt the relief of a rumor suggesting that the sales curb to China could be less severe than previously expected. But the news didn't necessarily translate in a strong rally. ASML (NASDAQ:ASML) - Europe's biggest chip equipment maker that predicted a 30% fall to its Chinese revenue next year - closed 0.22% lower yesterday, while Tokyo Electron - which was up by more than 6% yesterday - couldn't extend gains at today's session. With US markets paused for the Thanksgiving break, France was at the heart of the attention yesterday. The political drama, there, only ...Read More >
The financial repercussions of Parliament disruptions are considerable, impacting both public resources and the productivity of the nation's legislative process. However, both the Lok Sabha and Rajya Sabha have cumulatively functioned for merely 2 hours, with daily disruptions and sloganeering resulting in adjournments. The Rajya Sabha faced disruptions today (December 2) as Vice Chairman Jagdeep Dhankhar expressed discontent over sloganeering by Opposition MPs. The protests, which centered around demands for discussions on key issues, forced the Vice Chairman to adjourn the session until 12 ...Read More >
Mumbai, December 4: The domestic benchmark equity indices closed in green on Wednesday as buying was seen in PSU bank and realty sectors. The investors are keenly watching the Reserve Bank of India's (RBI) monetary policy committee (MPC) meeting which will announce its decision around the repo rate on Friday. Banking stocks rose amid volatile sessions in the market due to the possibility of Cash Reserve Ratio (CRR) cut by the central bank. Sensex settled at 80,956.3, higher by 110.58 points, or 0.14 per cent, while the Nifty ended at 24,467.45, up by 10.30 points, or 0.04 per cent. Stock Mark ...Read More >
India's growth in gross domestic product (GDP) of 5.4% in the three months ended 30 September, or the second quarter of 2024-25, was a shocker. It undershot even the most pessimistic forecasts. It's the lowest level seen since the third quarter of 2022-23 and a sharp drop from 8.1% growth in the same period last year and also from 6.7% in the first quarter of 2024-25. The consensus expectation stood at about 6.5% and the Reserve Bank of India (RBI) was expecting around 7% growth till its October policy, only to pare it to 6.8%. Growth in gross value added (GVA), which is the preferred measure ...Read More >
New Delhi [India], December 12 (ANI): Congress MP Jairam Ramesh has demanded that the proposed 'One Nation, One Election' bill be sent to a Joint Parliamentary Committee, asserting that the bill undermines democracy. "The bill will be presented in Parliament, and we want it to be referred to the Joint Parliamentary Committee, which will hold discussions on it. The Indian National Congress's position was clarified last year by party president Mallikarjun Kharge, who sent a four-page letter to former President Ram Nath Kovind's committee on One Nation, One Election, stating that we oppose the b ...Read More >
Delhi Elections 2025: Leader of Opposition in the Lok Sabha Rahul Gandhi has once again targeted Aam Aadmi Party (AAP) convener Arvind Kejriwal on Tuesday, ridiculing his 2019 promise to transform Delhi into a city as beautiful as Paris or London. Gandhi shared a video on X (formerly Twitter), showing himself walking alongside a garbage-filled canal in Delhi, captioning it, "This is Kejriwal's 'shining' Delhi-Delhi like Paris." In the video, Gandhi commented, "The situation is the same everywhere," alluding to the state of public spaces in the national capital. During the 2019 Lok Sabha ele ...Read More >
New Delhi [India], January 21 (ANI): The Centre is expected to continue its fiscal consolidation efforts in FY26, with a fiscal deficit target of 4.5 per cent of GDP, according to a report by Emkay Research. For FY25, the report noted that the fiscal deficit is estimated to track close to 4.7 per cent, while states are likely to record a fiscal deficit of 3.2 per cent of GDP. It said "we do not see the Centre deviating from its consolidation path in FY26, and is likely to target 4.5 per cent GFD/GDP. States, on the other hand, are likely to now hug the 3 per cent of GDP target (+/-0.2 per ce ...Read More >
Guwahati: A group of intellectuals and prominent citizens met the officials of the Bangladesh Assistant High Commission in Agartala and demanded the immediate release of Hindu priest Chinmoy Krishna Das Brahmachari in Bangladesh. Various other organisations also organised protest rallies and demonstrations against the arrest of Hindu priest Chinmoy Krishna Das Brahmachari. The intellectuals under the banner of 'Forum for Protection of Minorities in Bangladesh' urged the Bangladesh caretaker government led by Chief Adviser Muhammad Yunus to make all efforts to protect the minorities in Bangla ...Read More >
PNB shares 1.69 per cent in Friday's trading sessionNaga Chaitanya-Sobhita pre-wedding celebrations are on! Check pictures from their Haldi ceremonyWelfare pension fraud: Luxury car owners, affluent individuals found on beneficiary listsAshok Leyland shares 0.49% as Sensex risesRealty sector business sentiment signals growth, sustained optimism, surveyInfo Edge stock price 0.81 per cent as SensexWho is Chinmoy Krishna Das Brahmachari; the ex-Iskcon member caught in the middle of communal tensions in Bangladesh?Amid suspense over Maharashtra CM, major Mahayuti meet cancelledMarico shares 0.52% ...Read More >
New Delhi, Dec 3 (PTI) Finance Minister Nirmala Sitharaman will commence customary pre-Budget consultations with various stakeholders beginning Friday. As part of the process, she will meet eminent economists on December 6 to seek their inputs regarding upcoming Budget amid seven-quarter low GDP print of 5.4 per cent recorded in the second quarter of the current financial year. It will be followed by a meeting with farmer associations and agriculture economists and stakeholders in MSME sector scheduled for December 7, sources said. Union Budget 2025-26 is likely to be tabled in Parliament o ...Read More >
Mumbai: The RBI is likely to reduce the key interest rate by 25 basis points this week after keeping it on hold for two years, complementing the Union Budget initiatives to push consumption-led demand, though the sliding rupee continues to be a concern. As the retail inflation has remained within the Reserve Bank's comfort zone (less than 6 per cent) for most of the year, the central bank can take rate action to boost growth hit by sluggish consumption, opined experts. The Reserve Bank of India (RBI) has kept the repo rate (short-term lending rate) unchanged at 6.5 per cent since February 20 ...Read More >
Chennai: Former union finance minister P Chidambaram said on Thursday that the Union govt had delayed the census deliberately to undertake the delimitation exercise."A delayed Census after 2026 will trigger the provision that delimitation shall be done immediately afterwards. That is why the announcement to conduct a Census in 2027. Since the Census will be conducted in 2027, delimitation will follow," Chidambaram said in a social media post. Claiming that Tamil Nadu and several states will stand to lose seats in the Lok Sabha, Chidambaram said Prime Minister Modi is moving "step-by-step to ac ...Read More >
Belagavi (Karnataka) [India], December 13 (ANI): Karnataka Legislative Council LoP Chalavadi Narayanaswamy on Friday expressed support for the 'One Nation, One Election' and questioned the opposition's protests against the proposal. Narayanaswamy said that 'One Nation, One Election' will ease the government's financial burden and reduce election costs, urging everyone to support the initiative. Speaking to ANI, Chalavadi Narayanaswamy said, "Why are they (opposition) protesting (One Nation One Election)? Indira Gandhi was also doing the same. One Nation One Election will not put a burden on ...Read More >
Kolkata/Bhubaneswar: Trinamool Krishnanagar MP Mahua Moitra tied the knot with former BJD MP Pinaki Misra on May 30 in a quiet ceremony in Berlin. The couple is expected to return to India by the end of June. After photographs of Moitra's wedding went viral on social media, the MP on Thursday evening posted on her X handle, "Thank you everyone for the love and good wishes!! So grateful."News of the wedding, kept under wraps for nearly a week, broke on social media with multiple photographs of the Berlin wedding. According to party sources, Moitra had informed the party leadership about her wed ...Read More >
NEW DELHI: Former head of Air India and chairman of the Railway Board Ashwani Lohani is the new Prime Ministers Museum and Library (PMML) director. The official order for his appointment was issued on Wednesday. A 1980-batch officer of the Indian Railway Service of Mechanical Engineering (IRSME), Lohani is known for turning around various organisations during his illustrious career. Following his retirement from IRSME service, he joined the GMR Group as the CEO. According to the order dated June 4, his appointment to the post of director, Prime Ministers Museum and Library in the rank and pa ...Read More >
Rupee has maintained its position as one of the best performing Asian currencies, despite the ongoing challenges and geopolitical crisis in the Middle East. Pankaj Chaudhary, Minister of State for Finance on Monday said that this stance indicates India's strong economic fundamentals. In a written reply in the Lok Sabha, he mentioned that Rupee's is market-determined, not limited to any target or specific level. He noted that, as of November 19, 2024, the domestic currency had dropped 1.4 percent against the US dollar in the current calendar year (CY) 2024 and decline was primarily driven by ...Read More >
New Delhi, Dec 12 (PTI) The Union Cabinet on Thursday approved bills to implement 'One Nation, One Election', and the draft legislations are likely to be introduced in Parliament in the ongoing Winter session, sources said. The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi. The government is keen on holding wider consultations on bills which are likely to be referred to a parliamentary committee. Sources said the government was also keen to consult the Speakers of various state legislative assemblies through the committee. Moving ahead with it ...Read More >
Chennai, Dec 18 (VOICE) The Tamil Nadu police have ramped up security measures at border check posts with Kerala after reports of medical waste being dumped in a public area at Palavoor, Kadangallur, in Tirunelveli district surfaced.Patrolling has been intensified across various check posts in districts including Kanyakumari, Coimbatore, Gudalur, and Theni. Tirunelveli district police have warned of strict action against those involved in the illegal disposal. Environmental activists allege that large quantities of medical waste are being transported illegally from Kerala and dumped in Tamil ...Read More >
New Delhi, May 23 (PTI) The GST Council is likely to meet soon to discuss rate simplification and rationalisation and the future of compensation cess, according to a source. "There are three or four different aspects relating to making GST simpler. We will take up the issue of compensation cess, rate rationalisation and simplification," the source said. The GST Council, chaired by Union Finance Minister and comprising state counterparts, in its meeting in December last year, did not take up the GoM reports on rate rationalisation and rate reduction in health and life insurance. The two GoMs ...Read More >
Guwahati, May 28 (SocialNews.XYZ) Congress MP Gaurav Gogoi launched a scathing attack on Assam Chief Minister Himanta Biswa Sarma on Wednesday, citing recent Enforcement Directorate (ED) raids as "evidence of illegal coal mining operations" in the state, and also issued a clarification on his 'links' in Pakistan. Speaking to the media in Delhi for the first time after becoming the Assam unit chief of Congress, Gogoi pointed to the April 24 raids conducted across Assam and Meghalaya, where the ED reportedly unearthed a coal smuggling network, seizing Rs 1.58 crore in cash, digital devices, and ...Read More >
New Delhi, Nov 26 (UNI) Congress president Mallikarjun Kharge, Leader of Opposition in Lok Sabha Rahul Gandhi, and party general secretary Priyanka Gandhi Vadra on Tuesday greeted the people on the occasion of 75th Constitution Day. On social media handle X, Kharge said, "The Constitution of India, painstakingly and carefully drafted by our foremothers and forefathers, is the lifeblood of our nation. It guarantees us social, economic and political rights. It constitutes India into a SOVEREIGN SOCIALIST SECULAR DEMOCRATIC REPUBLIC". He said, "Justice, Liberty, Equality and Fraternity are not ...Read More >
Prime Minister Narendra Modi on Saturday said his government's policies and decisions were aimed at boosting India's strength and unity in line with the Constitution, while the opposition Congress had "tasted blood" by repeatedly wounding it.Prime Minister Narendra Modi on Saturday said his government's policies and decisions were aimed at boosting India's strength and unity in line with the Constitution, while the opposition Congress had "tasted blood" by repeatedly wounding it. Replying to a t ...Read More >
Bengaluru: The Karnataka government on Thursday took strong action against the police officers allegedly responsible for the Bengaluru stampede, suspending several high-ranking officials, including the city's police commissioner. Addressing a press conference, Chief Minister Siddaramaiah also announced a one-man commission to probe the lapses that triggered the deadly stampede. "Cubbon Park Police Station police inspector, station house master, station house officer, ACP, Central Division DCP, cricket stadium in-charge, additional commissioner of police, commissioner of police have been susp ...Read More >
Mumbai, December 13: Indian benchmark indices Sensex and Nifty fell more than 1 per cent on Friday. At around 10.51 a.m., the Sensex fell 1,017.03 points or 1.25 per cent to 80,272.93, while the Nifty fell 306.80 points or 1.25 per cent to 24,241.90. The market trend remained negative. On the National Stock Exchange (NSE), 340 stocks were trading in green, while 2,047 stocks were in red. Stock Market Today: Indian Market Opens Flat, All Adani Shares Trade in Green. The market remained in turmoil due to heavy selling by Foreign Institutional Investors, the rising US bond yields and ongoing co ...Read More >
New Delhi, Jan 21 (PTI) Congress leader Rahul Gandhi on Tuesday hit out at the Modi government over its economic policies and asserted that real development is when everyone progresses, there is a fair environment for business, a fair tax system and the income of workers increases. In a post in Hindi on X, Gandhi said, "The truth of Modi Ji's developed India: Your hard work, whose profit? The wheel of the country's economy is turning with your sweat and blood, but are you getting your fair share in it? Just think." The share of the manufacturing sector in the economy has gone down to the lowe ...Read More >