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A volunteer prepares beds with oxygen concentrators and oxygen cylinders at a Covid Care Centre in New Delhi on April 20, 2021.

Centre to retain GST on concentrators

Vikas Dhoot Delhi High Court pushes back, saying that the government should review its resistance at such a time

2hrs

Firms with relatively weaker credit profiles to benefit more from RBI measure: Crisil

Special Correspondent Half of Crisil-rated mid-sized companies will be eligible for the restructuring window offered under the Resolution Framework 2.0 announced by the

2hrs

The Centre provides the Post Devolution Revenue Deficit Grant to the States under Article 275 of the Constitution.

Finance Ministry releases ₹9,871 crore as revenue deficit grant to 17 States

PTI With this second installment, the total amount released during of the first two months of the current financial year has reached ₹19,742 crore.

Petrol price hiked by 25 paise, diesel by 30 paise

PTI Crude oil prices in the international market have risen primarily on account of strong U.S. demand recovery and a weak dollar

COVID-19: Small businesses, MSMEs to get relief

The average number of passengers per flight during April 2021 was 93, against an average of 109 passengers per flight in March 2021, according to ICRA. File photo

Air passenger traffic slid 29% in April: ICRA

Coronavirus | Roche gets emergency use approval for investigational drug used in COVID-19 treatment

Textile exports fell 13% in FY21 on COVID-19 impact

Cabinet clears IDBI Bank strategic disinvestment

PTI Nod paves way for transfer of control

Bank stocks rise on RBI move, industry welcomes measures

PTI Steps to expand RBI balance sheet needed, welcome: Kotak

Reserve Bank of India Governor Shaktikanta Das.

RBI announces ₹50,000 crore priority lending by banks for COVID-related healthcare infrastructure

Lalatendu Mishra

Opinion & Analysis

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A Budget that fails to address the hunger pandemic

Dipa Sinha In a year of economic slowdown and growing inequality, we have been presented with a stingy Budget that fails to ensure the bare necessities for all

A promising Budget with a few disappointments

M.Govinda Rao While the Budget promises to revive the economy faster, it continues to emphasise the protectionist trend

The Finance Minister has delivered, but the road ahead is long: on Union Budget 2021

Ananth Narayan This Budget scores very high marks on credibility and on its potential to create domestic output and jobs, but much more remains to be done

Markets

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Rupee rises 7 paise to 73.84 against US dollar in early trade

PTI The Indian rupee opened on a flat note and advanced by 7 paise to 73.84 against the US dollar in opening trade on Thursday amid a lacklustre trend in the domestic equity market. At the interbank forex market, the local unit opened at 73.87 against the US dollar, then inched higher to 73.84, reflecting a rise of 7 paise over its last close. The local unit also touched a low of 73.98 in initial deals. On Wednesday, the rupee had settled at 73.91 against the American currency. The Indian Rupee

Sensex rises over 150 points in early trade; Nifty tops 14,650

PTI Bajaj Auto was the top gainer in the Sensex pack.

Economy

See All

The Centre provides the Post Devolution Revenue Deficit Grant to the States under Article 275 of the Constitution.

Finance Ministry releases ₹9,871 crore as revenue deficit grant to 17 States

PTI With this second installment, the total amount released during of the first two months of the current financial year has reached ₹19,742 crore.

Petrol price hiked by 25 paise, diesel by 30 paise

PTI Crude oil prices in the international market have risen primarily on account of strong U.S. demand recovery and a weak dollar

Industry

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Centre to retain GST on oxygen concentrators

Firms with relatively weaker credit profiles to benefit more from RBI measure: Crisil

IRDAI issues standard travel cover norms

Mahindra to set up auto design unit in U.K.

COVID-19 supplies keep air cargo operators afloat

Hero Moto Q4net rises 44% to ₹885.28 cr.

Relief for pharma as Chinese airlines set to resume service

In some relief for Indian pharmaceutical industry and continuity in key raw materials supplies from China, Sichuan Airlines is resuming cargo services

‘HCL Tech plans to recruit more freshers than lateral hires’

Company is looking for people with new-age skills: Apparao

Nintendo forecasts decline in Switch sales, warns of chip uncertainty

The Kyoto-based firm expects to sell 25.5 million units in the business year that started April 1. That would compare with 28.8 million a year earlier after booking an 82% rise in operating profit at 640.6 billion yen ($5.9 billion).

Finance Ministry releases ₹9,871 crore as revenue deficit grant to 17 States

With this second installment, the total amount released during of the first two months of the current financial year has reached ₹19,742 crore.

Telangana farmers to get 25.5 lakh tonne fertilisers for kharif

The State Government has decided to allot 25.5 lakh metric tonne fertilisers for the farm sector during the upcoming Vaanakalam (kharif) season.The

Sensex, Nifty rise for 2nd day; auto, IT stocks take charge

The BSE benchmark Sensex closed higher by 272.21 points or 0.56 % at 48,949.76. In volatile trade, the index oscillated between a high of 49,011.31 and a low of 48,614.11 during the day.

Rupee rises 13 paise to settle at 73.78 against US Dollar

At the interbank forex market, the local unit opened at 73.87 against the greenback and witnessed an intra-day high of 73.77 and a low of 74.

Farmers at stake as fertiliser prices go up

The leaders of Indian Farmers Movement and the Malayora Karshaka Samiti say the price hike of the fertilisers can be controlled only by restricting the supremacy of various private fertiliser giants in the price fixing mechanism.

Second wave of COVID-19 has hit India 'like a tsunami' says Kiran Mazumdar Shaw

“If India is not safe, I can tell you the world is not safe.”

Petrol price hiked by 25 paise, diesel by 30 paise

Crude oil prices in the international market have risen primarily on account of strong U.S. demand recovery and a weak dollar

Rupee rises 7 paise to 73.84 against US dollar in early trade

The Indian rupee opened on a flat note and advanced by 7 paise to 73.84 against the US dollar in opening trade on Thursday amid a lacklustre trend

Sensex rises over 150 points in early trade; Nifty tops 14,650

Bajaj Auto was the top gainer in the Sensex pack.

Business Live:

Updates from the world of economy, markets, and finance

NPA account of Saravana Stores declared as fraud: Indian Bank

Indian Bank on Wednesday said it had declared the NPA account of Saravana Stores with an outstanding balance of ₹231 crore as ‘fraud’.“We have to

‘Investment in warehousing slides 44%’

Institutional investment in Indian warehousing fell 44% to $868 million in 2020 due to the COVID-19 pandemic, but the long-term outlook remains

CCI orders probe against Tata Motors

The Competition Commission of India (CCI) has ordered a detailed probe against Tata Motors for alleged abuse of dominant position with respect to

Tata Steel is back in black, nets ₹7,162 cr.

Tata Steel on Wednesday posted a consolidated net profit of ₹7,161.91 crore for the quarter ended March, mainly on account of higher income. The

Bank stocks rise on RBI move, industry welcomes measures

Steps to expand RBI balance sheet needed, welcome: Kotak

Cabinet clears IDBI Bank strategic disinvestment

Nod paves way for transfer of control

More companies pledge support for COVID-19 relief

More and more Indian and multinational companies are pledging their support for India’s ongoing COVID-19 relief efforts to minimise the impact of the

L&T starts assembling oxygen generating units

Larsen & Toubro Ltd. said it has started working towards assembling medical grade oxygen generation units to meet the demand in the country. The

Textile exports fell 13% in FY21 on COVID-19 impact

‘Ready-made garments declined 20.78%’

Air passenger traffic slid 29% in April: ICRA

‘Passenger numbers back at Oct. level’

RBI steps in to ease COVID-19 burden

Small businesses, MSMEs to get relief.

Coronavirus | Roche gets emergency use approval for investigational drug used in COVID-19 treatment

This will enable Roche to import the globally manufactured product batches to India where it has a partnership with Cipla to market as well as distribute the same

No meeting of GST council called in last 6 months: Punjab FM

States have deciding rights in the council, he says

Facing chips shortage, Biden may shelve blunt tool used in COVID fight

The official said the administration is pushing chips usersand producers to increase transparency by improving the capacityto forecast demand and generating better information on howchips are moving through supply chains to end users

Rupee snaps 2-day winning streak, ends 6 paise down at 73.91 against dollar

The rupee snapped its two-day winning streak and closed 6 paise lower at 73.91 (provisional) against the US dollar on Wednesday. At the interbank

British Trade Secretary Liz Truss and Commerce Minister Piyush Goyal sign U.K.-India ETP agreement

The ETP is said to create immediate opportunities for British businesses in India across industries including food and drink, life sciences and the service sector

Gold declines ₹ 317 on muted global trends

Gold dipped ₹ 317 to ₹ 46,382 per 10 grams in the national capital on Wednesday, in line with a decline in the yellow metal's prices overseas,

SpiceJet's freighter arm airlifts 3,100 oxygen concentrators from Beijing

Budget carrier SpiceJet's freighter arm on Wednesday airlifted 3,100 oxygen concentrators from Beijing.The airline used its B767 and A330 wide-body

India’s services sector activities eased to 3-month low in April amid COVID crisis: survey

The seasonally adjusted India Services Business Activity Index fell to 54 in April from 54.6 in March, the slowest increase in output in three months

RBI relaxes KYC norms, tells banks not to impose any restriction till Dec-end

The RBI has decided to extend the scope of video KYC or V-CIP for new categories of customers such as proprietorship firms, authorised signatories and beneficial owners of legal entities.

Verizon sells internet trailblazers Yahoo and AOL for $5B

Verizon has been shedding media assets as it refocuses on wireless, spending billions on licensing the airwaves needed for the next generation of faster mobile service, called 5G

Today's top business news: Shares rally after RBI unveils relief measures, fresh moratorium for small borrowers as COVID-19 cases spike, services sector growth slows further in April, and more

Updates from the world of economy, markets, and finance

Rupee rises 5 paise to 73.80 against US dollar in early trade

The Indian rupee opened on a flat note and advanced by 5 paise to 73.80 against the US dollar in opening trade on Wednesday as investors focused on

Sensex jumps over 200 points in early trade; Nifty tops 14,550

The 30-share BSE index jumped 266.09 points.

RBI unveils measures for individuals, small businesses, MSMEs to deal with COVID-19 crisis

In an unscheduled address, the Governor said that the situation in the country has reversed from being on foothills of strong economic recovery to facing a fresh crisis.

‘Bulk tea firms may see a financial slump in FY22’

Prices to drive extent of decline: ICRA

Biden undecided on COVID-related TRIPS waiver, as Republican lawmakers oppose India's proposal at WTO

12 Republican lawmakers write a seven-page letter to U.S. Trade Representative Katherine Tai on the issue

U.S. sanctions may spur Adani to exit Myanmar

Ports firm had won a terminal project

Foxconn, Dell apply for PLI under IT hardware

Output may be worth ₹1.6 lakh crore

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A patient being taken in an auto-rickshaw to the COVID-19 Ward at King George Hospital, in Visakhapatnam on Monday.

159K | COVID-19 | A.P. strain at least 15 times more virulent

Asiatic Lion seeks the comfort of a shade in its enclosure at the Nehru Zoological Park as the temperatures are rising with the onset of summer in Hyderabad on Saturday.

73K | Eight Asiatic lions test positive in COVID-19, first in India

Photo: aiimsrishikesh.edu.in

37K | Science Ministry funds trial on effect of Gayatri Mantra in treating COVID-19

Justice N.V. Ramana.

25K | News Analysis | A paradigm shift in Supreme Court after Justice N.V. Ramana takes over as CJI

Rohith Kumar, 22

25K | Bed blocking scam: Social worker, nephew held in sting operation

DMK president M.K. Stalin handing over a letter of his election as Legislature Party Leader to Governor Banwarilal Purohit on May 5, 2021. Photo: Special Arrangement

24K | Full list of Tamil Nadu Cabinet and Council of Ministers

A view of the Supreme Court of India. File

22K | Supreme Court declares Maratha quota law unconstitutional

Relatives of a woman suffering from the coronavirus disease (COVID-19), carry an oxygen cylinder as she receives treatment in the emergency room of Holy Family Hospital in New Delhi.

22K | Coronavirus | COVID-19 surge may taper off by end of May, says virologist Gagandeep Kang

Family members and paramedical workers rush a coronavirus patient at Rajiv Gandhi Government General Hospital, in Chennai on May 3, 2021.

14K | Coronavirus | TN imposes fresh restrictions for 14 days from May 6