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06 Jul

GDP per capita of states/UTs in India

Ashish MajumderEconomy

Actually GDP per capita of a country is calculated by dividing total GDP of the country by its total population. Right now India’s GDP per capita is $2,677. In fact among states/UTs, Sikkim has the highest GDP per capita at $8,691. Actually it is followed by Goa ($8,370), Delhi ($6,690), Chandigarh ($5,905), Telangana ($4,745), Karnataka ($4,637) and Haryana ($4,581). This is actually good news as India is becoming very strong economy and giving people very good life. Actually India is very big economy and people all over the world know how much powerful India is. If you see today India…

21 May

Spices Board inspecting MDH, Everest plants; Efforts underway to improve compliance

Priyanka Roybreaking news, Business, Economy, Latest

Data shared by the Ministry of Commerce and Industry on Monday showed that the maximum residue level (MRL) for EtO in Singapore was 50 mg/kg, while in the EU it was 0.02 to 0.01 mg/kg and in Japan it was 0.01.The Spices Board of India is carrying out inspections at several MDH and Everest processing plants in the country to ensure that spice exports meet the requirements of the respective export destination, senior government officials said on Monday, adding that they have also suggested corrective action such as the use of steam sterilization, Also added actions. The focus is on…

15 May

Abans Holdings FY24 net profit rises 27% to Rs 89 crore

Priyanka Roybreaking news, Business, Economy, Latest

Mumbai: Abans Holdings, a diversified financial services company, on Tuesday said it booked a consolidated net profit of Rs 89.2 crore during the financial year 2024 (FY24), compared to Rs 70 crore during the previous financial year, an increase of 27.4%. The company reported 18.6% growth in consolidated total income during FY2024 to Rs 1,380 crore from Rs 1,164 crore a year ago.Abans Holdings also said it has received approval from markets regulator SEBI to act as investment manager for Alternative Investment Funds (AIFs) in India. "This achievement elevates the company from a holding entity to an operating entity," it…

11 May

IIP growth slows marginally to 4.9% in March; increment rate 5.8% in FY24: Government data

Priyanka RoyBusiness, Economy

India's industrial output growth slowed marginally to 4.9% in March 2024 mainly due to poor performance by the mining sector, according to official data released on Friday.Factory output growth, measured in terms of the Index of Industrial Production (IIP), stood at 5.6% in February 2024. However, in March 2023 it was 1.9%.For fiscal year 2023-24, IIP growth reached 5.8 percent as against 5.2% in the previous fiscal year. India's index of industrial production grew by 4.9% in March 2024, according to a statement by the Ministry of Statistics and Program Implementation.According to the latest data, mining output growth slowed to…

10 May

Bank of Baroda’s Q4 profit expansion marginally to Rs 4,886 Crore

Priyanka RoyBusiness, Economy

On Friday State-owned Bank of Baroda reported: a marginal 2.3% grow in net profit to Rs 4,886 Crore for the Q4 ending March 2024.A year before, the bank had earned a net profit of Rs 4,775 Crore in the January-March quarter. Total income during the quarter under review increased to Rs 33,775 Crore from Rs 29,323 Crore in the same period last year, BoB said in a regulatory filing.Interest income increase to Rs 29,583 Crore during the latest 3 month period from Rs 25,857 Crore in the same quarter a year ago.In terms of asset quality, the bank's gross non-performing…

09 May

Tata Power Q4 report: Net profit arise 11% to Rs 1,046 Crore due to higher profits

Priyanka RoyBusiness, Economy

New Delhi: Tata Power on Wednesday reported 11% rise in its consolidated net profit in the March quarter to Rs 1,046 Crore compared to last year mainly due to higher profits. BSE filings showed consolidated profit stood at Rs 939 Crore for the quarter ending March 31, 2023. The company's total income in the quarter increased to Rs 16.464 Crore from Rs 13,325 Crore in the year-ago period. Consolidated net profit in fiscal 2023-24 rose to record Rs 4,280 Crore from Rs 3,810 Crore in the year-ago period, the company said in a statement. Total income will increase from Rs…

05 May

Air India has make less the free cabin baggage allowance for the lowest economy fare segment from 20 kg to 15 kg

Priyanka RoyBusiness, Economy

Loss-making Air India has reduced the free cabin baggage allowance for the lowest economy fare segment on domestic flights from 20 kg to 15 kg. The changes have been made to fare families, a menu-based pricing model introduced by Tata Group-owned Air India last August. The airline has said that a one-size-fits-all approach is no longer ideal. An airline spokesperson said on Saturday that there are three fare families – Comfort, Comfort Plus and Flex – which offer different levels of benefits and fare restrictions at different price points. From May 2, the free cabin luggage allowance for 'Comfort' and…

03 May

OECD increas India’s FY2025 growth forecast to 6.6%

Priyanka RoyBusiness, Economy

The Organization for Economic Co-operation and Development on Thursday raised India's FY2025 growth forecast to 6.6% from an earlier estimate of 6.2%. "Despite relatively sluggish private consumption growth, strong investment and improving business confidence in India are projected to propel real GDP growth to more than six and a half per cent in both FYs 2025 and 26," the OECD (Organization for Economic Co-operation and Development) said.

02 May

Adani Ports Q4 net profit gain 77% to Rs 2,014 crore

Priyanka RoyBusiness, Economy

Adani Ports and Special Economic Zone Ltd (APSEZ) on Thursday reported a 76.87% rise in consolidated net profit at Rs 2,014.77 crore for the fourth quarter ended March 2024. The country's largest integrated logistics company had posted a profit of Rs 1,139.07 crore in the corresponding period of the previous financial year, the company said in a BSE filing. Its consolidated total income rose to Rs 7,199.94 crore in Q4FY24 from Rs 6,178.35 crore in the year-ago period. Total expenses also increased to Rs 4,450.52 crore in the quarter under review from Rs 3,995 crore a year ago.

01 May

Indian Oil’s quarterly profit drop 52% due to inventory losses, low fuel prices

Priyanka RoyBusiness, Economy, India

Indian Oil Corporation (IOC) on Tuesday reported a 52 percent decline in fourth quarter profit as the company sold fuel below market prices due to inventory losses. While India is the world's third-largest oil importer and consumer, Indian Oil controls about a third of India's five million barrel-per-day refining capacity with its unit Chennai Petroleum. However, India has been buying increasingly cheaper Russian oil as discounts have fallen from $30 a barrel in 2022 to less than $10 this year, while refiners also cut fuel prices at the pumps ahead of this year's general elections. IOC reported a 52% decline…