BUSINESS
Luxury housing sales share up at 18% across top seven cities
As per realty consultancy ANAROCK Research, out of the total 3.65 lakh units sold across the top seven cities in 2022, 18 per cent (approx 65,680 units) were in the luxury category priced more than Rs 1.5 crore. Contrastingly, of the total 2.61 lakh units sold in entire 2019, just 7 per cent (approx 17,740 units) were in the luxury category.
Highest Z+ security cover for Mukesh Ambani, his family across India & abroad: SC
A bench of Justices Krishna Murari and Ahsanuddin Amanullah said: "Highest Z+ security cover provided to respondent nos. 2 to 6 (Ambanis) shall be available all across India and the same is to be ensured by the state of Maharashtra and Ministry of Home Affairs. Highest Level Z+ Security Cover, as per the policy of Government of India, be also provided.
GDP growth slides to 4.4% in December quarter of 2022-23
The GDP growth was 6.3 per cent in the September-quarter of 2022-23. The second quarter growth itself was almost half of 13.2 per cent growth seen in the April-June quarter of the current fiscal. The Reserve Bank of India (RBI) had suggested a growth rate of 4.4 per cent for the last quarter of 2022-23, however that projection was based on the annual GDP projection of 6.8 per cent by the central bank.
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.
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