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Prime Minister Narendra Modi, in his address to the media before the start of the Budget session of Parliament on Tuesday, said the whole world had its eyes on India’s 2023 Budget and exuded confidence that an attempt would be made to meet the hopes and aspirations of the people of the country. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3eqGk6K

The annual Economic Survey for 2022-23 projected the economy to grow by somewhere between 6% and 6.8%, depending on global factors in 2023-24, with 6.5% a baseline expectation. While admitting that the world economy faces considerable uncertainty that could affect India’s growth, the survey struck a confident note, mirroring the sunny posture of the government, which plans to showcase the recovery on its watch as one of the main pitches for the 2024 polls. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/VpZvnY9

President Droupadi Murmu Tuesday showcased fearlessness, decisiveness and stability among the hallmarks of the Modi government and emphasised these strengths have not only helped it tackle numerous challenges and played a crucial role in delivering transformative governance to the country, but also allowed the world to look towards India with high hopes. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/a6QYVXI

Inflation in India is expected to come down from 6.8 percent in the current fiscal year ending March 31 to 5 percent the next fiscal, and then drop further to 4 percent in 2024, the International Monetary Fund (IMF) said on Tuesday.“Inflation in India as in other countries is expected to come down from 6.8 percent in 2022 to 5 percent in 2023 and then 4 percent coming towards the target in 2024,” Daniel Leigh, Division Chief, Research Department of the IMF told reporters. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/z5TY7Jf

The highways and railway sectors are likely to get a combined budgetary allocation of over Rs 4 lakh crore, the highest ever. Both the ministries may see 20-30% increase in their allocation considering their track record in spending so far. During the current financial year, the Centre has allocated almost Rs 2 lakh crore for the road transport and highways ministry and going by the current trend of expenditure; the total spending is likely to touch Rs 2.1 lakh crore by March end. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/qYeJZn3

"Change is the only constant in life! Last 9 years, I’m lucky to have received so much love that it makes this goodbye so difficult. Thank you all. The end of a journey also marks the beginning of a new one, full of exciting opportunities. Hello to a new adventure!" Jain said in a tweet, which also had his full statement. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ydbDaWB

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The next generation of Birlas is set for bigger responsibilities at the $60-billion Aditya Birla Group. Kumar Mangalam Birla’s older daughter Ananya Birla and son Aryaman Vikram Birla have been inducted as directors on the board of Aditya Birla Management Corporation (ABMCL), the apex body that provides strategic direction to the group’s businesses. The two have also been inducted on the board of Aditya Birla Fashion and Retail (ABFRL), a listed entity. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/jfg49b2

The government survey is likely to say that growth is seen at 6.5% for 2023-24 under the baseline scenario, the person said, declining to be named as the matter was confidential. This would be the slowest in three years. Nominal growth is likely to be forecast at 11% for 2023-24, the source added. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2wN8mEt

The Centre is expected to close the year with higher than budgeted tax collections during 2022-23, marking the second straight fiscal year of the actual collections being more than the Budget estimates. During the last 22 years, there have been only two occasions - 2006-07 to 2007-08 and 2015-16 to 2017-18 - when the actual collections have been more than the Budget estimates (BE) during successive years. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/YB2Vuwa

Adani Group, which is in the eye of a corporate-cum-stock market storm due to a damning report by US-based short seller Hindenburg Research, late on Sunday said that 68 of the 88 questions posed by the firm were already addressed through annual reports of various group companies, offer documents and stock exchange disclosures. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/eYUtB5E

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Institutional investors are fully backing the Rs 20,000-crore follow-on public offer (FPO) for Adani Enterprises (AEL) even though the stock is below the offer price. However the company is not sure how retail investors will look at the issue at the current market price. However, it is confident some high net worth and ultra-high net worth investors (UHNIs) will participate in it. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5ETkBLh

Electronics export from India is expected to cross Rs 1.28 lakh crore in the next financial year, minister of state for electronics and IT Rajeev Chandrasekhar has said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5f1deRU

Wadia group-owned Go First expects to receive Rs 210 crore under the government's credit line guarantee scheme next month as the budget airline seeks to boost its financial position and expand operations.The airline, which received Rs 210 crore from the promoters last month, aims to have 53 operational aircraft in its fleet by the start of April this year, its CEO Kaushik Khona told PTI. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/HzUlj6I

The ongoing earnings season, global market cues, domestic macroeconomic data announcements and auto sales numbers would also influence trading in the market, they added. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/T3oyxW6

Foreign investors have pulled out a net of over Rs 17,000 crore this month so far due to the attractiveness of the Chinese markets and the cautious stance adopted by them ahead of the Union Budget and US Federal Reserve meeting.The outflow in January came after a net inflow of Rs 11,119 crore in December and Rs 36,239 crore in November. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Lofml37

Amid speculation that Adani Enterprises may be forced to amend its Rs 20,000-crore follow-on public offer after a plunge in its stock price, the company clarified that its FPO remains on schedule at the set issue price. The flagship of the Adani Group had fixed the FPO at Rs 3,112-Rs 3,276 per share. However, on Friday, the first day of retail bidding for the FPO, the stock closed at Rs 2,762 on BSE. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/js95ZoP

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Air India will on Friday seal half of an order for some 495 jets with Boeing and engine suppliers General Electric and CFM International, industry sources said, as its new owner seeks to revive the airline and compete with larger rivals. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/TsUuYwp

Indian banks' exposure to the Adani Group is within manageable limits, said brokerage houses CLSA and Jefferies, as the group fend off an attack from well-known short-seller Hindenburg Research. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/8ncvIfO

As the company looks at sustainable mobility solutions for the coming decade, including launching six new electric vehicles by 2030, one of the ambitious programmes that it has chalked out revolves around cow dung. The effort is aimed at tackling the growing CO2 emissions from vehicles and finding new solutions to counter its growth. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/rBSVx26

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Asian stocks rose on Friday and were poised for their fifth straight week of gains after a set of data highlighted a resilient US economy, lifting investor sentiment ahead of next week's slate of central bank monetary policy meetings. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/4ALneqp

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The German unit of EY, formerly known as Ernst & Young, has decided to make structural changes with a focus on personnel measures and reductions of non-personnel costs, a company spokesperson told Reuters on Thursday in an emailed statement. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7jJcQtw

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The report and its unsubstantiated contents were designed to have a deleterious effect on the share values of Adani Group companies as Hindenburg Research, by their own admission, is positioned to benefit from a slide in Adani shares, he said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/0aSJ3Zj

The NPG has representations from various connectivity infrastructure ministries/ departments involving their heads of network planning division for unified planning and integration of the proposals. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/kqTeb5M

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The currency weakened around 0.7% in the first two days of the week. Traders pointed to the Reserve Bank of India likely buying dollars on Monday when the rupee scaled a high of 80.88. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/SrBDHft

While equities have enjoyed a strong start to the year as a slowdown in inflation gives central banks room to temper their interest rate hikes, focus is now turning to the impact of last year's increases on the economy. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/O4oNq3p

Elon Musk is testifying in a class-action lawsuit that alleges he misled Tesla shareholders with a tweet about an aborted buyout. He spent roughly three more hours on the stand during his third day of testimony before being excused by US District Judge Edward Chen. The civil trial is expected to be turned over to a nine-person jury in early February. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/sbOwdoB

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In a regulatory filing on Monday, private sector lender Axis Bank reported a 62 per cent surge in profit at Rs 5,853 crore for the quarter ended December 2022, driven by increase in net interest income and decline in bad loans. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/kpZvdjU

Among sensex stocks, Tata Motors, HDFC Bank, HCL Tech, Asian Paints, Infosys, Bajaj Finserv, Tech Mahinrda, IndusInd Bank, Bajaj Finance, HDFC and Maruti were major gainers. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/12KgPIp

Twitter has stopped paying rent on its San Francisco headquarters, and the company is in breach of its lease. The landlord is suing Twitter for unpaid rent and other damages. Twitter is defending itself in a securities fraud trial, and the landlord is also suing the company for failing to pay rent on its other offices. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/NdwWxIi

With nominal GDP of 10.6%-11%, India's gross tax collection growth rate is likely to be around 8% in 2023/24, compared with 14.5% in the current year, due to base effect, said Gaura Sengupta, an economist at IDFC First Bank. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/uICUVXO

In an internal meeting, Sundar Pichai, who is CEO of Google parent Alphabet Inc, said he had consulted with the company’s founders and board in making the decision for 6% cuts. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/0JjNtvu

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Brazil and Argentina will announce this week that they are starting preparatory work on a common currency, the Financial Times reported on Sunday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/vKPGXcq

India's foreign exchange reserves rose by whopping $10.417 billion to $572.0 billion in the week ending on January 13, Reserve Bank of India's Bulletin Weekly Statistical Supplement data showed. With this sharp jump, the reserves hit over a five-month high. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ukvXYLB

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Overall, FPIs pulled out Rs 1.21 lakh crore from the Indian equity markets in 2022 on aggressive rate hikes by the central banks globally, particularly the US Federal Reserve, volatile crude, rising commodity prices along with Russia and Ukraine conflict. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/HQqLdBk

Gautam Adani's group plans to spin off businesses like hydrogen, airports, and data center between 2025 and 2028. These businesses have to achieve a basic investment profile and maturity before being considered for a demerger. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/xqKCWLM