Category: Corporate

PM launched 20 percent ethanol blended petrol at the India Energy Week (IEW) 2023. E20 is a biofuel called ethanol, produced spontaneously when sugar is fermented, mostly produced by extracting sugar from sugarcane. In the first phase, 15 cities will be covered and in the next two years it will be expanded throughout the country. India saved as much as ₹53,894 crore in forex outgo from 10 per cent blending besides benefiting the farmers. E-20 will be available at 84 petrol pumps of three State-owned fuel retailers in 11 States/UTs.…

Gautam Adani re-entered the Forbes list of richest people in the world. With a net worth of $61.40 billion, Adani now stands at 17th spot in the Forbes real-time billionaires list. Adani, who was the third-richest individual in the world till January 24, dropped from the world’s top 20 billionaire rich due to a sudden crash in the groups’ share price.   Gautam Adani, Chairman of Adani Group, re-entered the Forbes list of richest people in the world positioned at number 17. Gautam Adani was one of the top gainers…

Amid concerns over banks’ exposure to the embattled Adani Group, the Reserve Bank on Friday said India’s banking sector is resilient and stable, and the central bank maintains constant vigil on the lenders. Responding to media reports the Reserve Bank said in a statement that it is constantly monitoring the banking sector without taking the name of the Adani Group. As per the current assessment, the RBI said, “the banking sector remains resilient and stable. Various parameters relating to capital adequacy, asset quality, liquidity, provision coverage and profitability are healthy.”…

Emphasising on inclusive growth, the Union Budget increased spending on agriculture and infrastructure. The Finance Minister Nirmala Sitharaman’s Budget has increased people’s access to money by reducing income tax. Seven budget priorities were highlighted by the Union Finance Minister in her speech to the Lok Sabha. The seven priorities are: the financial sector, maximising potential, promoting sustainable growth, bridging the gap in development, and infrastructure and investment. In order to give some relief to the middle class, Nirmala Sitharaman said that under the new tax structure, no tax will be…

The global economy is expected to contract significantly this year but the worst seems to be behind us, both in terms of growth and inflation, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday. “On the growth front, projections are now veering around to a softer recession as against a severe and more widespread recession projected a few months back,” Das said at an event in Dubai. according to a Business Standard report. According to the International Monetary Fund’s latest economic outlook, global growth is forecast to slow…

Sand is classified as a “minor mineral”, under The Mines and Minerals (Development and Regulations) Act, 1957 (MMDR Act) and administrative control over minor minerals vests with the State Governments, and accordingly, regulated through State specific rules. Due to high demand, regulated supply and complete ban of sand mining during monsoon to protect river ecosystem, finding alternative to river sand became necessary. Sand Mining Framework (2018) prepared by Ministry of Mines envisages alternative sources of sand in the form of Manufactured Sand (M-Sand) from crushed rock fines (crusher dust), sand…

The Halwa ceremony, marking the final stage of the Budget preparation process for Union Budget 2023-24, was held in North Block, today afternoon, in the presence of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman and Union Ministers of State for Finance Shri Pankaj Chaudhary and Dr. Bhagwat Kisanrao Karad.     A customary Halwa ceremony is performed every year before the “lock-in” process of Budget preparation begins.     Like the previous two Union Budgets, Union Budget 2023-24 will also be delivered in paperless form. The Union Budget…

For the first time in the country, Food Safety and Standards Authority of India (FSSAI) has specified the identity standards for Basmati Rice (including Brown Basmati Rice, Milled Basmati Rice, Parboiled Brown Basmati Rice and Milled Parboiled Basmati Rice) vide Food Safety and Standards (Food Products Standards and Food Additives) First Amendment Regulations, 2023 notified in the Gazette of India. As per these standards, Basmati rice shall possess natural fragrance characteristic of basmati rice and be free from artificial colouring, polishing agents and artificial fragrances. These standards also specify various…

Auto Expo 2023: The Concept Electric SUV eVX will be powered by a 60kWh battery pack offering up to 550km of driving range.   Building on its commitment towards sustainable motoring, Maruti Suzuki India Limited today showcased the Concept Electric SUV eVX at Auto Expo 2023. With this, the company has reinforced its vision of developing sustainable powertrain systems through continuous technological development and innovation. The ‘Emotional Versatile Cruiser,’ – Concept eVX is a mid-size electric SUV concept designed and developed by Suzuki Motor Corporation, Japan offering futuristic SUV design…

The New Year 2023 began at Paradip Port with a bang as Team PPA signed off 2022 by clocking highest ever monthly cargo throughput in the history of all Major Ports in the country, with all time record cargo handling of 12.6 MMT in December, 2022. Shri P.L. Haranadh, Chairman, PPA congratulated the Team PPA for this magnificent performance. The New Year 2023 is going to augur well for the Port, as it is all set to cross the coveted 100 MMT cargo handling mark, in the month of January…