BUSINESS
India Projected to Achieve 7.2% GDP Growth in 2024-25, Says Report
A host of steps proposed in the Union Budget for 2024-25 will lead to improved agricultural productivity, creation of job opportunities for the country's youth, and strong manufacturing, according to Deloitte's update on the economic outlook of India made in August. Supply-side demand will rise, inflationary pressures will be reduced at the same time, and consumer spending will be encouraged, especially in rural areas.
MTNL Misses Rs 422 Crore in Bank Loan Repayments
MTNL's detailed report indicates specific defaults: Rs 155.76 crore to Union Bank of India, Rs 140.37 crore to State Bank of India, Rs 40.33 crore to Bank of India, Rs 40.01 crore to Punjab & Sind Bank, Rs 41.54 crore to Punjab National Bank, and Rs 4.04 crore to UCO Bank.
Parsvnath Developers CEO Captured at Delhi Airport Following 60 km Pursuit
Deputy Commissioner of Police for Shahdara, Surendra Choudhary, said Jain was arrested at the IGI Airport by the STF Shahdara team on Saturday. The arrest comes immediately after Jain failed to attend a hearing at the National Consumer Disputes Redressal Commission.
US Recession Fears Trigger 10% Drop in Global Markets
According to South Korea's Yonhap news agency, trade in the local benchmark KOSPI 200 index was temporarily suspended for five minutes due to its sharp crash.
FPIs Invest Rs 54,727 Crore Boosted by Positive Growth Projections for FY25
An economic survey released last week before the Union Budget pegged the growth rate for the country at 6.5% to 7% for 2024-25.
Indian Startups Secure Over $1 Billion in Funding for July, Report Reveals
According to a report by Entrackr, for the month of July, Indian startups closed 126 funding deals worth $1.03 billion. Of this, 28 were growth or late-stage investments of $725 million, whereas 72 were early-stage investments pegged at $311 million. The details of 26 such early-stage deals were not disclosed.
SBI's Net Profit Remains Steady at ₹17,035 Crore for April-June Quarter
The bank's total income for the quarter grew to ₹1,22,688 crore, compared to ₹1,08,039 crore in the April-June quarter of the prior year. Interest income also saw an increase, reaching ₹1,11,526 crore versus ₹95,975 crore in the corresponding period of the previous year.
Government Greenlights Eight High-Speed Road Corridors with Rs 50,655 Crore Investment
These projects could be set to have an output of approximately 4.42 crore mandays of direct and indirect employment. The Cabinet Committee on Economic Affairs has given a go-ahead to some of the significant corridors are the 6-Lane Agra-Gwalior National High-Speed Corridor, 4-Lane Kharagpur-Moregram National High-Speed Corridor, and 6-Lane Tharad-Deesa-Mehsana-Ahmedabad National High-Speed Corridor,
Zomato Stock Climbs 12% Following Impressive Q1 Results
Zomato shares have seen tremendous action over the last one year, zooming 206 per cent. It has moved up nearly 109 per cent since the beginning of this calendar year, 81 per cent in the last six months, and about 25 per cent in the last one month.
Infosys Announces Withdrawal of GST Notice by Karnataka Authorities
The country's second-largest IT company made headlines on Wednesday when GST authorities issued a notice of ₹ 32,403 crore for services the company availed from its overseas branches for a five-year period starting in 2017. Infosys explained that this is a 'pre-show cause' notice and reiterated that GST should not be applied to these expenses.
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