Sitharaman discusses post-pandemic economic recovery, other issues with World Bank chief

Washington, October 16 Finance Minister Nirmala Sitharaman discussed the post-pandemic economic recovery, India’s major role in the global fight against COVID-19 and preparations for the upcoming Climate Change Conference among other issues during her meeting with World Bank President David Malpass. Sitharaman met Malpass at the World Bank headquarters in…

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Biden admn, US companies welcomed economic reforms by India: Sitharaman

Washington, October 16 India’s Finance Minister Nirmala Sitharaman here said the Biden Administration and leaders from the corporate sector in the US had welcomed recent economic reforms introduced by her government. “The reforms that we’ve undertaken, particularly the steps taken for the withdrawal of the retrospective tax, have been mentioned…

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Public sector GIs losing motor segment share

Mumbai, October 15 Even as the motor insurance segment, which had a massive decline in FY21, is returning to the growth path, public sector general insurers have been steadily losing ground to the private insurers overall and more so in the bread and butter motor segment, with pie crimping to…

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Prices of fuel at all-time high

Petrol and diesel prices on Friday rallied to their highest ever levels across the country. With a hike of 35 paise, the petrol price in Delhi and Mumbai reached Rs105.14 and Rs111.09, respectively. MUMBAI Forex reserves increase by $2 billion to $639.5 billion The country’s foreign exchange reserves rose by…

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India most cost-effective in rooftop solar power: Report

Mumbai, October 15 A global study has found that India is the most cost-effective country for generating rooftop solar energy at USD 66 per megawatt-hour, while the cost in China is marginally higher at USD 68 per megawatt-hour. Due to the lower cost, rooftop solar photovoltaics (RTSPV) technology, such as…

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Export curbs on diagnostic kits, reagents go as Covid cases fall

New Delhi, October 15 With Covid cases coming down in the country, the government on Friday removed export curbs on all diagnostic kits and reagents including instruments, which are used in detection of Covid infection. India logged 16,862 new cases, infections, taking the tally to 3,40,37,592, while the active cases…

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Metropolis to acquire Hitech Diagnostic

New Delhi, October 15 Diagnostic chain Metropolis Healthcare on Friday said its board has approved the acquisition of Hitech Diagnostic Centre and its subsidiary Centralab Healthcare Services for a cash consideration of Rs 636 crore. Earlier on January 17, 2021, Metropolis Healthcare in a regulatory filing had said its board…

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No coal e-auction till situation normalises

New Delhi, October 15 Amid the low stock position at the electricity generating plants, state-owned CIL has asked its subsidiaries to refrain from conducting any further e-auction of coal, except special forward e-auction for the power sector, till the situation stabilises. The development assumes significance as the supply of coal…

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Petrol, diesel prices rally to highest-ever levels

New Delhi, October 15 Petrol and diesel prices on Friday rallied to their highest-ever levels across the country, as fuel rates were hiked again by 35 paise a litre. The price of petrol in Delhi rose to its highest-ever level of Rs 105.14 a litre and Rs 111.09 per litre…

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India to remain accommodative in its monetary policy: RBI Governor

Washington, October 15 India, which is experiencing robust economic recovery which remains uneven across sectors, has decided to remain accommodative in its monetary policy, the Reserve Bank of India Governor told the international community on Thursday. India is witnessing a very robust economic recovery, but there is still unevenness across…

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DoT approves telecom proposals worth Rs3,345 cr

New Delhi, October 14 The Department of Telecom on Thursday approved 31 proposals entailing an investment of Rs 3,345 crore over the next four and a half years. “The investment of Rs 3,345 crore in the next 4.5 years is just a beginning. Government is helping you as a catalyst,”…

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Passenger vehicle sales decline 41% in Sept amid chip shortage

New Delhi, October 14 Passenger vehicle wholesales in India witnessed a 41% year-on- year decline in September as semiconductor shortage hit production leading to a drop in supplies from manufacturers to dealers, auto industry body SIAM said on Thursday. Last month, passenger vehicle (PV) sales stood at 1,60,070 units as…

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Reliance tops India Inc in World’s Best Employers list

New Delhi, October 14 Reliance Industries has topped Indian corporates in the World’s Best Employers rankings 2021 published by Forbes. Reliance was placed at 52 in the overall ranking of 750 global corporates such as Phillips, Sanofi, Pfizer and Intel. Other Indian names in the top 100 rankings were ICICI…

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Rally continues, Sensex zooms 569 pts to breach 61,000-mark

Mumbai, October 14 Benchmark indices Sensex and Nifty raced to fresh record highs by notching their sixth straight session of gains on Thursday as participants cheered improving macroeconomic data and positive global cues. Going past the 61,000-mark for the first time ever, the Sensex soared 568.90 points to finish at…

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Over 2 crore ITRs filed on new portal, CBDT urges taxpayers to file FY21 returns quickly

New Delhi, October 14 The income tax department on Thursday said more than two crore ITRs for the financial year 2020-21 have been filed so far and the performance of the new I-T portal has “substantially stabilised”. Asking taxpayers to file their income tax returns (ITRs) for fiscal 2020-21 (April…

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