Departments such as telecom, defence, railways, and highways have experienced lower capital expenditure with telecom spending just 6% of its annual allocation. Total government capex during April-Nov fell to 49% from 59% last year. The slow spending is attributed to milestones tied to funding and recent elections impacting the first quarter.
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Poonam Gupta has been appointed as the fourth woman deputy governor of the Reserve Bank of India, filling a post vacant for over two months. Gupta, an esteemed economist and currently director general of NCAER, will serve a three-year term and has previously contributed to various economic advisory councils.
Apple plans to invest $500 billion in the U.S. over the next four years. This investment will include constructing a large factory in Texas for AI servers and adding 20,000 research and development jobs. This move comes amid tariffs on products assembled in China, with the company securing waivers previously.
Air India's profitability is under pressure due to the falling rupee, which increases operational expenses. The airline mitigates some of this impact by pricing international flights in foreign currencies. However, rising costs and a competitive market make it challenging to increase fares, affecting profitability. Air India is adapting to this situation amidst an ambitious transformation and expansion plan.
Income Tax offices in India will remain open from March 29 to March 31, despite the weekend and Eid-al-Fitr, to assist taxpayers before the fiscal year ends. The CBDT and RBI have directed all tax offices and banks involved in government business to stay operational to facilitate completion of tax tasks and government payments.
Gold prices hit a record high of $3,160 per ounce as investors sought safe havens amid declining stock market futures following President Donald Trump's announcement of new tariffs on major trading partners. Stocks and futures markets experienced significant declines, particularly in technology and clothing sectors, with companies like Apple, Nvidia, and Gap seeing substantial drops.
Waaree Renewable Technologies Ltd has secured a 2 GW solar project from Sunbreeze Renewables Nine Pvt Ltd, a Jindal Renewables SPV, to be implemented in Bikaner, Rajasthan. The project, valued at WRTL's largest-ever order, will enhance energy efficiency using advanced technologies. Jindal Renewables aims to be a leader in renewable energy, targeting 12 GW of assets by 2030.
The Indian rupee fell to an all-time low of 85.24 against the US dollar due to rising US Treasury yields and a decrease in Asian currencies. Despite potential support from India's strong economic growth, the rupee is projected to continue a modest decline.
Dr Krishna Ella, co-founder of Bharat Biotech, has been awarded the prestigious INSA India fellowship for 2025 for his significant contributions to vaccine technology and biotechnology. His work led to the development of India’s first indigenous Covid-19 vaccine, Covaxin. Bharat Biotech, established in 1996, has delivered over nine billion vaccine doses worldwide.
President-elect Donald Trump's newly debuted digital token, trading under the “Trump†ticker on the Solana blockchain, surged to a $15 billion market value over the weekend, causing major speculative activity within the cryptocurrency market. However, its value decreased to below $10 billion following the launch of a similar token by his wife, Melania.
Illegal online betting and gambling in India have surged, with 1.6 billion visits recorded on major platforms. Despite government actions, illicit operators thrive using advanced marketing, frictionless payments, and mirror websites. The report urges a comprehensive approach, including stricter digital media controls, financial regulations, and enhanced enforcement to disrupt illegal gambling operations effectively.