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Business

India’s Fiscal Deficit Touches 58.6% of Annual Target in Two Months

Net tax receipts during April-May period were 338.5 billion rupees ($4.48 billion), while total expenditure was 5.12 trillion rupees, the data showed, indicating the government was front-loading its budgeted spending to combat the impact of pandemic.
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Business

Food Corporation of India Has 816.60 Lakh Tonnes of Foodgrains for Food Law, Welfare Schemes

About 55 lakh tonnes of foodgrains are required monthly under the National Food Security Act (NFSA) and other welfare schemes.
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Business

Steel Imports Worth Rs 20,000 Crore Avoided Due to DMISP Policy, Says Union Minister Dharmendra Pradhan

The minister also said the government’s thrust on infrastructure development will have a positive bearing on driving steel consumption in the country.
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Business

China Central Bank Says Economy Faces Risks from Global Pandemic, Efforts Against Domestic Resurgence

The PBOC said it would continue to guide lending rates lower by exploiting the full potential of reforms and would strengthen financial support to small- and medium-sized enterprises and private firms.
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Business

Engineering Firms Bring Back Migrant Labourers Who Fled Covid-hit Mumbai for MMRDA Projects

According to MMRDA, nearly 755 labourers are expected to be brought back from different states in July and so far 115 have already been sourced by the contractors of the metro 7 line.
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Business

PNB Sanctions Loans to About 3 Lakh MSMEs Under Credit Guarantee Scheme

The bank reiterated its commitment towards the MSME sector, which has been the engine of economic growth and promoting equitable development.
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Business

SBI Sanctions Loans to Over 4 lakh MSMEs Under Credit Guarantee Scheme

On the occasion of International MSME Day, SBI managing director C S Shetty on Friday addressed MSME customers and employees across the nation video conference.
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Business

Glenmark Posts 36% Increase in Net Profit to Rs 220 Crore in Fourth Quarter

The company’s consolidated revenue for the quarter rose 7.96 per cent to Rs 2,767.48 crore as against Rs 2,563.47 crore a year ago, Glenmark Pharmaceuticals said in a regulatory filing.
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Business

RBI Governor Briefs Central Board About Impact of Monetary Steps Taken to Deal with Covid-19

The board also deliberated on the current economic situation and the evolving challenges posed by the pandemic.
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Business

Going to Talk With US Counterpart in Next Few Days on Proposed Trade Deal: Piyush Goyal

India and the US are negotiating a trade deal to iron out differences and promote two-way commerce.