Samudra Manthan scheme expected to add over 600 MMTOE of reserves and will be implemented through FY 2030-31. (Representative image) On August 15, 2025, Prime Minister Narendra Modi spoke of energy security, announcing the National Deep Water Exploration Mission. “To make the country developed, we are now moving towards ‘Samudra Manthan’ (churning of the ocean)….
NEW DELHI: Centre’s fiscal deficit hovered around 18% of the full year’s estimate at the end of the first quarter, despite elevated capex and a slower growth in tax revenue due to the impact of GST rationalisation.During April-June, the Centre’s tax revenue was 3.7% higher at just over Rs 9 lakh crore, compared with a…
MUMBAI: Domestic funds now own a record 21% of India Inc’s biggest companies, while foreign funds, that have been selling stocks of Indian companies for nearly two years now, hold 17%, down from 21.5% a decade ago. It took domestic funds to net infuse funds worth about $166 billion in Indian stocks to offset $58…
Supply disruptions in the Middle East have prompted Indian Oil Corporation (IOC) to overhaul its crude sourcing strategy, with the state-run refiner sharply increasing purchases from the spot market. The share of spot buying has risen from 50% to nearly 84%, IOC director (finance) Anuj Jain said on Saturday.The move comes after supplies through the…
Foreign currency inflows under the Reserve Bank of India‘s (RBI) special swap facility almost doubled in just two weeks, rising to $40.816 billion by July 31 from $20.718 billion as of July 17. According to the latest RBI data, Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits remained the biggest contributor, accounting for the bulk of funds…
Malta-flagged Aframax tanker Captain John loaded crude at Enbridge’s Ingleside terminal near Corpus Christi, Texas and is bound for Israel’s southern port of Ashkelon A cargo of US West Texas Intermediate (WTI) crude oil is headed to Israel for the first time in nearly three years, according to ship-tracking data.The Malta-flagged Aframax tanker Captain John…
BENGALURU: Cybercriminals are exploiting the income-tax return (ITR) filing season by sending fake income tax department notices over WhatsApp and other messaging platforms, using forged govt documents, cloned tax portals and malware to steal banking credentials and gain remote access to victims’ devices, according to a report by Bengaluru-based cybersecurity firm CloudSek.The campaign comes at…
GST collections rise to over Rs 2.11 lakh crore, driven by imports and domestic demand NEW DELHI: India’s gross Goods and Services Tax (GST) collections rose 15.4 per cent year-on-year to over Rs 2.11 lakh crore in July, driven by higher revenues from both domestic transactions and imports, according to government data released on Friday.Gross…
MUMBAI: Bloomberg Index Services has delayed the inclusion of India’s sovereign bonds in its global bond indices, saying recent market reforms need more time to be tested in practice before a decision can be taken.The index provider said that while India has made meaningful progress in improving access for foreign investors, the changes are still…
Andhra Pradesh is set to get an aviation boost on Saturday as Prime Minister Narendra Modi will be inaugurating the Alluri Sitarama Raju International Airport at Bhogapuram in Vizianagaram district. The inauguration comes as PM Modi is headed for a two state visit to Andhra Pradesh and Karnataka. During the visit, he will also lay…