During this year’s Holi festivities, liquor sales soared beyond previous records, exceeding expectations once again. The excise department reported a revenue of Rs 17.75 crore during the Holi period, marking a 24 per cent increase compared to the previous year. Retail sales of beer, foreign liquor, and country liquor amounted to Rs 14.25 crore in […]
After S&P Global, Morgan Stanley has revised its GDP growth forecast upwards for the financial year 2024-25 (FY25) to 6.8 per cent, up from its previous estimate of 6.5 per cent. The firm also revised its growth forecast for the ongoing financial year, FY24, to 7.9 per cent. The revised projections come in the wake […]
Chief Economic Advisor (CEA) V Anantha Nageswaran expressed optimism about the economy’s improved capital formation, bolstered by various government initiatives, leading to a surge in job opportunities in the current decade compared to the previous one. Addressing an event, Nageswaran remarked that the downturn in fixed investment and credit expansion moderation, which had hampered economic […]
Indian rice exporters have been issued notices by the customs department demanding payment of duty differentials on rice shipments made over the past 18 months, the news agency Reuters reported citing sources. This unusual tax demand has the potential to severely impact rice exports from India, it said. India, the world’s largest rice exporter, implemented […]
A study on Tuesday revealed that the Indian manufacturing sector stood as the most targeted industry for ransomware extortion in 2023. The study by Palo Alto Networks said on a global level a 49 per cent YoY increase was observed in multi-extortion ransomware attacks from 2022 to 2023 and before 2023 LockBit ransomware remained the […]
All cattle slaughterhouses under the jurisdiction of the Greater Hyderabad Municipal Corporation (GHMC) and retail beef shops within its limits will be closed on March 25 in observance of Holi. Authorities have instructed officers to ensure necessary cooperation to municipal staff in enforcing this directive. In addition, the Cyberabad police have issued orders for the […]
The Finance Ministry on Friday stated that India’s economic prospects for the next fiscal year appear promising, citing an increase in private investment and a downward trend in inflation. According to the Monthly Economic Review, the inclusion of Indian bonds in the Bloomberg bond index starting from January 2025 is expected to bolster inflows into […]
In view of the Holi festival, wine shops and bars will remain closed on March 25 and 26, 2024, in Cyberabad, police said on Friday. A press release issued by the Commissioner of Police, Cyberabad, said that the liquor outlets will remain shut from 6 am to 6 pm on both days in view of […]
The India-UK free trade agreement is likely to be signed post the formation of new government at the Centre. “The legal vetting of the trade deal is on. Even if we iron out the last few issues, the deal cannot be announced till elections are over and a new government is formed” a senior government […]
Indian steel companies exporting to the European Union (EU) are facing significant challenges as the implementation of the carbon border adjustment mechanism (CBAM) in 2026 threatens to dent their profitability by up to 30 per cent. The CBAM, scheduled to come into effect in 2026, aims to shield domestic manufacturers in six sectors, including iron […]
