Business

[ad_1] A surge in budget allocation and sustained policy focus over the past 11 years has led to a wide-ranging transformation in India’s agricultural sector, the Centre said on Saturday, crediting flagship schemes with driving output, procurement, and farmer support to new highs.In an official statement, the government said its agri reforms have empowered farmers and repositioned India on the path from food security to global agricultural leadership. The transformation, it said, has focused on inclusive development — covering smallholders, women-led groups, allied sectors, and traditional practices such as millet farming.“Over the past eleven years, under Prime Minister Narendra Modi’s leadership, India’s agricultural sector has undergone a profound transformation, rooted in the philosophy of Beej Se Bazaar Tak (seed to market),” the statement said, quoted PTI.Budgetary support for the Department of Agriculture and Farmers’ Welfare has risen nearly five times […]

[ad_1] As artificial intelligence and automation continue to reshape industries, the real challenge lies not in job displacement but in ensuring fair access to the wealth created by machines, Zoho cofounder Sridhar Vembu has said.In a hypothetical future where software development becomes fully automated—a possibility Vembu believes is still distant—millions of engineers could lose their jobs. However, he argued that the bigger issue is not a lack of meaningful human activity, but how people will afford goods and services in an economy where machines dominate production.“It’s a matter of economic distribution, not just technology,” said Vembu, who is also the company’s chief scientist as quoted by an ET report.He outlined two potential outcomes: either the cost of goods drops so close to zero that affordability becomes universal, or society compensates human-centric work—like caregiving, education, and environmental restoration—more generously, redistributing income […]

[ad_1] Infosys on Saturday announced the opening of its new development centre at Gujarat International Finance Tec-City (GIFT City) in Gandhinagar, marking a strategic expansion of its presence in India's premier international financial hub. The Bengaluru-based IT major said the facility will support more than 1,000 employees in a hybrid working setup and serve as a key TechFin hub delivering advanced digital solutions for global clients in the banking, financial services and insurance (BFSI) sector. “This centre will offer a state-of-the-art facility for over 1,000 employees in a hybrid working model. It will function as a key TechFin hub, delivering advanced digital solutions for global BFSI clients,” Infosys said in a statement, as quoted an ET report. The centre will provide services in digital banking, capital markets, trade finance, regulatory and compliance functions, cards and payments, and risk management. It […]

[ad_1] Indian equities surged in May as defence stocks and microcaps led a broad-based rally, with investor appetite turning decisively risk-on. The rally picked up further pace in June following a surprise rate cut by the Reserve Bank of India (RBI), lifting rate-sensitive sectors and extending bullish momentum.According to a report by Motilal Oswal, the benchmark Nifty 50 rose 1.71% in May, while the broader Nifty 500 advanced 3.50%. Gains were strongest in the microcap segment, where the Nifty Microcap 250 jumped 12.10%, outpacing other indices, as reported ET. The Nifty Smallcap 250 rose 9.59% and the Nifty Midcap 150 gained 6.30%. Large-cap performance was more moderate, with the Nifty Next 50 up 3.49%.Sectorally, defence stocks emerged as the biggest winners, climbing 21.84% in May amid robust order visibility, government-backed indigenisation, and continued investor enthusiasm. Over the past 12 months, […]

[ad_1] Little Caesars, the world’s third-largest pizza chain by global presence, is set to enter India this month by opening its first outlet in the Delhi-NCR region, the company said on Friday. This will be the brand’s 30th global market.The Detroit-based brand, known for its ‘hot-n-ready’ pizzas and Crazy Bread, has partnered with Harnessing Harvest as its India franchisee. “Launching in India marks an exciting milestone for Little Caesars as we expand into our 30th country,” said Paula Vissing, President, Global Retail at Little Caesars Pizza, in a statement. “With our delicious pizzas and unbeatable value, we're eagerly anticipating introducing a unique menu that we believe will captivate India.”The company’s foray into India is part of a wider global expansion that recently included markets like Cambodia and Kuwait, PTI reported. Little Caesars was founded in 1959 as a single family-owned […]

[ad_1] A key change in the 16th Finance Commission lineup was announced on Saturday with RBI Deputy Governor T Rabi Sankar appointed as a part-time member, following the resignation of Ajay Narayan Jha on personal grounds.In a notification issued by the Department of Economic Affairs, the Finance Ministry stated, “In pursuance of clause (1) of article 280 of the Constitution read with the provisions of the Finance Commission (Miscellaneous Provisions) Act, 1951, the President is pleased to appoint T Rabi Sankar as a part-time Member of the Sixteenth Finance Commission.” His term will run until the Commission submits its report or October 31, 2025, whichever is earlier.Currently, Sankar oversees the FinTech Department, the Financial Markets Operations Department, and the Financial Markets Regulation Department at the RBI. He has also been instrumental in the rollout of the Central Bank Digital Currency […]

[ad_1] In a bid to speed up scientific research and enhance institutional autonomy, the Centre has revised financial ceilings under the General Financial Rules (GFRs) for procurement of scientific equipment and consumables, ANI reported on Friday. The Finance Ministry notified that vice-chancellors, directors, and academic institutions under specified departments and ministries will now be allowed to make non-Government e-Marketplace (GeM) purchases with relaxed limits and fewer procedural constraints. The move is aimed at reducing procurement delays and giving research institutions greater operational flexibility. According to the new rules, institutions can procure scientific instruments and consumables worth up to Rs 2 lakh without needing quotations — a significant increase from the earlier Rs 1 lakh limit. Purchase committees can now approve procurements up to Rs 25 lakh, up from the previous Rs 10 lakh cap. In another key reform, vice-chancellors and […]

[ad_1] Starting with the July 2025 tax period, Goods and Services Tax (GST) returns will become time-barred after three years from the original due date, the GST Network (GSTN) said in an advisory issued Saturday. This means taxpayers will no longer be able to file monthly or annual returns beyond that window, with the restriction set to be enforced on the GST portal from August 2025 onward.The move is part of amendments introduced through the Finance Act, 2023, aimed at tightening compliance and closing long-standing return backlogs. The rule applies to a wide range of returns, including GSTR-1, GSTR-3B, GSTR-4, GSTR-5, GSTR-5A, GSTR-6, GSTR-7, GSTR-8 and GSTR-9 — covering outward supply declarations, tax payments, and annual summaries, PTI reported."The returns will be barred for filing after expiry of three years. The said restriction will be implemented on the GST portal […]

[ad_1] MUMBAI: The sensex rallied 747 points (0.9%) on Friday to close at 82,189 points after RBI cut interest rate by 50 basis points (100bps = 1 percentage point), a move that market players feel has the potential to spur economic growth with loans becoming cheaper. Banking and financial stocks led the day's rally that added about Rs 3.6 lakh crore to investors' wealth with BSE's market capitalisation now at slightly over Rs 451 lakh crore.Nifty closed 249 points (1%) higher at 25,003 points. Most market players said that although a cut in interest rate by RBI was almost a given, the quantum of the cut - 50bps against an expected 25bps - surprised most.Domestic funds led the day's buying with a net inflow of Rs 9,342 crore while foreign funds were net buyers at Rs 1,010 crore, BSE data […]

[ad_1] NEW DELHI: The economic advisory council to the Prime Minister (EAC-PM) has been reconstituted with noted economist S Mahendra Dev being appointed as the chairperson, replacing Niti Aayog vice chairman Suman Bery.Three full time members - Sanjeev Sanyal, Sanjay Kumar Mishra and Shamika Ravi - have been retained. New part time members who have been appointed include Soumya Kanti Ghosh, part time member of the 16th Finance Commission and group chief economic advisor at SBI. The other part time members are: K V Raju, Chetan Ghate, Pami Dua, Pulok Ghosh and Gourav Vallabh, an official order said. tnn [ad_2] Source link