New Delhi, March 14 (IANS) India’s services exports have maintained strong momentum in FY2025-26, supported by sustained global demand for Indian services and over the April-January 2025-26 period, services exports are estimated at $348.4 billion, an official factsheet said on Saturday.India’s services exports share in GDP averaged 9.7 per cent during FY23-FY25, marking a notable rise from 7.4 per cent in the pre-pandemic period, and highlighting the growing role of the services sector in su…
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Bengaluru, March 6 (IANS) Karnataka Chief Minister Siddaramaiah presented the Budget for the financial year 2026-27 — his 17th — in the Assembly on Friday with a total outlay of Rs 4,48,004 crore, marking a 13.3 per cent increase over the 2025-26 revised estimates. Siddaramiah said that Karnataka continues to lead the nation in all sectors of development. “We are one of the major states that contributes the highest to the tax revenue of the country,” he said.Defending the guarantee schemes, he…
Mumbai, March 6 (IANS) Maharashtra’s outgo towards salaries, pension and interest payment during 2025-26 will be a record Rs 3,12,556 crore, which will be more than 50 per cent of the revenue expenditure of Rs 6,06,855 crore. The revenue receipts are estimated at Rs 5,60,964 crore, officials said on Thursday.According to the Economic Survey for 2025-26, the Maharashtra government’s spending on salaries is Rs 1,72,760 crore (28.5 per cent of total revenue expenditure) against Rs 1,46, 037 crore (…
Mumbai, Feb 23 (IANS) Maharashtra Governor Acharya Devvrat on Monday said that the state continues to be a leading destination for foreign investment, contributing over 13.5 per cent to the national GDP. He further stated that a “Vision Management Unit” has been set up to guide the state’s transition towards a $5-trillion economy by 2047.Addressing the joint session of both houses of the state legislature on the inaugural day of the budget session, the Governor said that Maharashtra receiv…
New Delhi, Feb 18 (IANS) Finance Minister Nirmala Sitharaman made a strong pitch for more foreign direct investment (FDI) in India at a roundtable meeting with prominent Norwegian CEOs and investors in Oslo on Wednesday.In her remarks at the event, the Finance Minister said: “My official visit to Norway has witnessed engaging and positive discussions on India as an investment destination and the fastest growing major economy of the world.”She also said that the Union Budget 2026-27 underpins the…
New Delhi, Feb 18 (IANS) Pakistan’s economic situation is likely to start unfolding negatively in 2026, as geopolitical headwinds appear to be re-emerging, according to media reports.There is visible friction in Pakistan-UAE ties, evident from the monthly rollover of UAE deposits at a higher rate of 6.5 per cent, when the government had previously been confident of a two-year rollover at half the rate. Potential UAE investment in Fauji Foundation companies also remains in limbo, according to a…
New Delhi, Feb 16 (IANS) An Adjudicating Authority under the Foreign Exchange Management Act, 1999 (FEMA) on Monday slapped a penalty of Rs 184 crore on controversial journalist and production company owner Prabir Purkayastha and his firm for violating FDI norms and illegal foreign inward remittances, an ED official said on Monday.The Adjudicating Authority imposed a penalty of Rs 120 crore on PPK Newsclick Studio Pvt Ltd and Rs 64 crore on Purkayastha, director of the company, said a statement …
New Delhi, Feb 12 (IANS) Calling upon India’s technology sector to reset its ambitions towards a trillion-dollar opportunity by 2035, Union Commerce and Industry Minister Piyush Goyal said on Thursday that the industry must embrace reimagination to stay ahead in an era defined by artificial intelligence, data centres and clean energy. Launching the NITI Frontier Tech Hub’s roadmap report titled “Reimagination Ahead” in the national capital, the Union Minister said India should target at least 10…
New Delhi, Feb 9 (IANS) Pointing out that youth joblessness stands at 15 per cent in India, with less than 25 per cent of the workforce in regular employment, Congress leader and former Finance Minister P. Chidambaram launched a sharp attack on the Union Budget 2026-27 in the Rajya Sabha on Monday, describing it as cautious, parsimonious, forgettable, and already vanishing from public memory. Speaking on the discussions in the upper house of the Parliament, he questioned whether the government a…
Mumbai, Feb 6 (IANS) Despite global uncertainties, India’s foreign exchange reserves surged by $14.361 billion in the week ended January 30, reaching an all-time high of $723.774 billion, according to data released by the Reserve Bank of India (RBI) on Friday. In the previous week, the reserves had increased by $8.053 billion. The increase in foreign exchange reserves is primarily attributed to a rise in gold prices.According to the Central Bank data, the value of gold reserves, a key component …