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…
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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 …
New Delhi, Jan 30 (IANS) India’s foreign exchange reserves increased by $8.053 billion in the week ended January 23 — reaching an all-time high of $709.413 billion, according to data released by the Reserve Bank of India (RBI) on Friday.The previous all-time high for the country’s foreign exchange reserves was $704.89 billion, registered in September 2024.According to the RBI data, the value of Foreign Currency Assets (FCA), the largest component of the reserves, increased by $2.367 billion t…
New Delhi, Jan 29 (IANS) India remains the world’s largest recipient of remittances, with inflows reaching $135.4 billion in FY25, supporting stability in the external account, the Economic Survey 2025-26 said on Thursday.The share of remittances from advanced economies increased, reflecting a growing contribution from skilled and professional workers, said the Survey tabled by Finance Minister Nirmala Sitharaman in Parliament.A unified effort to reduce manufacturing costs is required for enha…
New Delhi, Jan 27 (IANS) The Congress released a report on Tuesday, criticising the economic policies of the Narendra Modi government and alleging that jobless growth is taking place in the economy.The report claimed that between 2017-18 and 2023-24, employment in the manufacturing sector fell from 12.1 per cent to 11.4 per cent, while in the services sector it declined from 31.1 per cent to 29.7 per cent.At the same time, the employment in the agriculture sector rose from 44.1 per cent to 46.1 …
New Delhi, Jan 25 (IANS) The Union Budgets under Prime Minister Narendra Modi in the last 11 years have become a vehicle of transformation and policy reforms, ensuring ease of doing business for industries, including MSMEs and startups, and more purchasing power for the common people.In the first Union Budget 2014-15 under the PM Modi government, the personal income tax exemption limit was raised from Rs 2 lakh to Rs 2.5 lakh (and to Rs 3 lakh for senior citizens). Additionally, the investment l…