Senate Democrats approve big Biden deal worth $740 bn; House to vote next

Democrats pushed their election-year economic package to Senate passage Sunday, a hard-fought compromise less ambitious than President Joe Biden’s original domestic vision but one that still meets deep-rooted party goals of slowing global warming, moderating pharmaceutical costs and taxing immense corporations. The estimated $740 billion package heads next to … Read more

FPI Inflows: FPIs buy shares worth Rs 14,000 cr in a week amid softening dollar index

After turning net buyers last month, foreign investors continued their positive stance on Indian equities and invested over Rs 14,000 crore in the first week of August amid softening of the dollar index. This was way higher than the net investment of nearly Rs 5,000 crore by Foreign Portfolio Investors (FPIs) in entire July, data … Read more

IPO Market: 28 cos secure Sebi’s clearance to float IPOs worth Rs 45,000-cr in Apr-Jul FY23

Sebi has given its nod to 28 companies to raise funds totalling Rs 45,000 crore through initial public offerings (IPOs) in April-July period of 2022-23 which has already seen 11 debutantes raising over Rs 33,000 crore. Among the firms that have secured the regulator’s clearance include Lifestyle retail brand FabIndia; Bharat FIH, a subsidiary of … Read more

Govt planning contentious laws to cut power utility debt worth Rs 6 trn

India is planning laws that would boost competition and lower debt at its power distribution companies, but also risks fomenting anger in a country where electricity is often used as an election sweetener. Key proposals include allowing more utilities to operate within the same circles, mandating regulators to set … Read more

Govt okayed purchase of military equipment worth Rs 1.83 trn since 2020-21

The government has said that it accorded the Acceptance of Necessity (AoN) approval for procurement of military equipment worth Rs 1,83,778 crore since 2020-21. The AoN is the first step towards any defence procurement, which is followed by tendering and contracting. “In the period 2020-21 to 2022-23 (till … Read more

Karnataka government clears 18 investment proposals worth Rs 34,432 crore

The state high-level clearance committee (SHLCC) chaired by chief minister Basavaraj Bommai on Friday cleared 18 investment proposals worth Rs 34,432 crore with a potential to add 48,850 jobs. Of these eight are new projects while 10 are about additional investments. Some of the major proposals cleared are: Trualt Bioenergy’s ethanol plant of 2000 kilo-litres … Read more

Gold, electronic goods worth Rs 3.09 crore seized at Chennai airport

Over six kilograms of gold and electronic goods worth Rs 3.09 crore were seized in multiple incidents at the airport here in the last two days, the Customs department said on Friday. The air intelligence wing of the department recovered gold in paste form and two gold chains concealed in the pant … Read more

‘Proposals worth Rs 10 trn lined up before Invest Rajasthan 2022 summit’

Rajasthan is all set to make a big leap towards the new era of Industrialisation with proposals of over Rs 10 trillion lined up ahead of ‘Invest Rajasthan 2022 summit’, said the officials, adding that “the proposals have arrived across sectors following the advantages of land, resources, infrastructure and state government policies”. … Read more

Chhattisgarh gets investment proposals worth more than Rs 90,000 crore

Mineral-rich Chhattisgarh has received, as part of its industrial policy, investment proposals worth more than Rs 90,000 crore in the past three and a half years. A spokesperson for the Chhattisgarh commerce and industries department said during this period, 178 deals had been inked for setting up units in … Read more