Page 15 - Indian Economy

Union Budget 2023: Long-term capital gains tax likely to be rationalised

This tax was discontinued in 2005, but was reintroduced in 2018 in the Union Budget for that fiscal

Sidbi partners with VFS to extend MSME loans up to Rs 5 lakh at 13% pa

The Small Industries Development Bank of India (SIDBI) has entered into a partnership with VFS Capital to extend loans to the MSME sector, the Kolkata-based microfinance institution said. VFS Capital will extend MSME loans upto Rs 5 lakh at 13 per cent interest rate per annum, a top company official said. "We have tied up with SIDBI to provide loans to the SME and MSME sectors. VFS Capital expects to disburse Rs 30-40 crore under the scheme this fiscal, MD and CEO Kuldip Maity said. The loan book of the MFI during 2022-23 is expected to be around Rs 1,100-1,200 crore from Rs 805 crore in the last financial year, he said. Maity said the company is planning to expand its footprint in the north-western part by launching operations in Rajasthan by the end of January. At present, it operates in 13 states including West Bengal, Assam and Tripura. VFS Capital also plans to add 35 branches within this fiscal, taking the number to 270 across the country. We aim to raise Rs 100 crore in .

India Inc business confidence hits a 2-year high in third quarter

Industry seeks hold on interest rates from RBI

Palpable economic crisis brewing: Rahul Gandhi warns in letter to people

Congress MP Rahul Gandhi on Friday warned people of a "palpable economic crisis brewing" in the country under the present government at the Centre

Focus must stay on core inflation, says RBI governor Shaktikanta Das

Banks developed culture of prudence; corporate loan demand to pick up

Beyond Joshimath: How not to make the future a repeat of the past

Can we have stronger regulatory and associated institutions to ensure environmental protection? If not, the shock effect of Joshimath won't last much more than a week, cautions T N Ninan

IT may turn the corner, banks' outperformance to continue: ABSL AMC CEO

India is likely to see broader economic growth going forward, equity should be the preferred asset class, the Aditya Birla Sun Life Asset Management Company CEO says

Goyal calls upon Global South nations to help build resilient supply chains

Goyal also emphasised upon the need for de-politicisation of the global supply of essential medicines

India to work towards building focus on green development pact in G20: Govt

S Jaishankar pressed for international cooperation on data-related capacities, innovations, and technologies especially for the Global South, to create opportunities for all

Public, pvt sectors must think out of box to seize global opportunities: PM

The Prime Minister applauded the success of the India Digital story and the rapid adoption of fintech across the country, and the potential for inclusive growth and development it promises

Indian industry leaders expect GDP to grow at 6.5% in FY24: Survey

Sixty per cent of respondents suggested raising funds through Indian Government Bonds, DTTILLP said

Conflict and inflation: Indian realities

Policymakers must be wary of using frameworks tailored by rich countries to address rich country problems when crafting India's inflation-control strategy

Industrial production expands by 7.1% in Nov 2022 vs -4% in Oct: Govt data

The mining output rose by 9.7 per cent and power generation increased by 12.7 per cent during the month under review

Central govt's borrowings may touch Rs 14.8 trillion in FY24: Icra report

Nevertheless, as a proportion of GDP, fiscal deficit is expected to ease to 5.8 per cent from 6.4 per cent

India keen to present views of 'global south' at G-20: FM Sitharaman

Strengthening of multilateral institutions a priority, she says as country outlines its vision as G20 president

World is in state of crisis: PM Modi at Voice of Global South summit

PM Modi says India can be the voice of Global South

CPI eases marginally to 5.72% in Dec 2022, within RBI's comfort zone

In November, CPI, also called retail inflation, was at eleven-month low of 5.88 per cent

India to explore buying oil from Guyana in long-term deal, says govt

India's Petroleum Minister Hardeep Singh Puri met Guyana's President Mohamed Irfaan Ali on Thursday

Kamdhenu Ventures to list on stock exchanges this month: Group CMD

Kamdhenu Ventures, the paints business of Kamdhenu Group, will be listed on the stock exchanges BSE and NSE later this month. The paints division was separated from the steel business of the group last year for better management focus and operational flexibility, its CMD Satish Agarwal said, citing reasons for the demerger. There are plans to raise Rs 200 crore through multiple routes and expand the paints business post listing, the CMD said. The group also aims to garner a revenue of Rs 1,000 crore from the paints segment over the next five years, he said. "Kamdhenu Ventures has also issued 2,69,35,500 shares of Rs 5 each in the ratio of 1:1 towards the consideration for demerger to the shareholders of Kamdhenu Ltd having shares on 7th September 2022 being the record date," Group CFO Harish Agarwal said. The new venture had received the in-principle approval for listing from the BSE and NSE in November 2022, the CFO said. Kamdhenu has its paint manufacturing plant at Chopanki in

Indian govt's record borrowing in FY24 likely to hit high next fiscal year

The Indian government's borrowing will likely hit a record high next fiscal year, as it prioritizes growth, which could push bond yields higher, ICICI Bank's treasury head told on Thursday