Business

Amaravati, February 24: In a major boost to renewable energy capacity and investment activity, the Government of Andhra Pradesh has approved the development of a 200 MW solar power park by Yashaswa Power LLP, a group company of Clean Max Enviro Energy Solutions Pvt Ltd, which is currently launching a ₹3,100 crore initial public offering on the main board.₹1,200 Crore Investment to Power Sri Sathya Sai District The project involves an investment of ₹1,200 crore and will establish a 200 MW AC and 300 MWp DC solar park across Beechiganipalle and adjoining villages in Parigi Mandal of Sri Sathya Sai district.Spread over nearly 1,200 acres of predominantly private land, the facility is designed to generate approximately 445 million units...

Mumbai, February 24: The Maharashtra government on Tuesday presented supplementary demands amounting to ₹11,995.33 crore in the state legislative assembly, with a significant allocation directed towards energy, labour, industries, and mining sectors.Chief Minister Devendra Fadnavis, who also holds the finance portfolio, tabled the supplementary budgetary demands on the second day of the ongoing Budget session. The state’s annual Budget for 2026-27 is scheduled to be presented on March 6.What the Supplementary Demand Covers A supplementary demand refers to an additional budgetary grant sought by the government during a financial year. It is presented over and above the approved annual budget to address unforeseen, additional, or new...

New Delhi, February 24: The government on Tuesday clarified that the recently reduced rates and value caps under the Remission of Duties and Taxes on Exported Products scheme do not apply to agricultural and processed food exports.The clarification comes a day after duty benefit rates under the RoDTEP scheme were halved with immediate effect, triggering concern across the exporting community. Industry representatives had expressed disappointment and urged a reconsideration of the decision.DGFT Notification Exempts ITC HS Chapters 01 to 24 In a notification issued under Notification No 60 dated February 23, 2026, the Directorate General of Foreign Trade stated that the reduced RoDTEP rates and value caps are not applicable to export...

Domestic Macroeconomic Stability Lifts MSME Sentiment Despite Global Risks New Delhi, February 24: The year-on-year analysis of the MSME Business Confidence Index for the October-December 2025 quarter shows a clear improvement at both composite and sectoral levels, even as global risks persist. According to the latest outlook survey released by the Small Industries Development Bank of India, the domestic macroeconomic environment has played a decisive role in strengthening business sentiment.The survey indicates that the availability of working capital finance and overall finance recorded the strongest gains over the past year. Sales performance and the broader business environment also improved, pointing to resilient demand...

Major Investment Boost During Singapore Visit Singapore/Lucknow, February 24: The Uttar Pradesh government has signed a memorandum of understanding with Air India SATS Airport Services Pvt Ltd to invest ₹4,458 crore in two major aviation service projects at the upcoming Noida International Airport.The agreement was formalised on Sunday during Chief Minister Yogi Adityanath’s ongoing visit to Singapore. Officials said the deal marks a key investment outcome on the second day of the tour, which is focused on attracting global capital to Uttar Pradesh.Advanced Cargo Campus to Position Jewar as Logistics Hub Under the MoU, AISATS will develop an advanced cargo campus at the airport in Jewar, located in Gautam Buddh Nagar district...

Salary Growth in India Set to Edge Higher in 2026 Salaries in India are projected to rise by 9.1 per cent in 2026, slightly higher than the 8.9 per cent growth recorded in 2025, according to a report released on Tuesday by Aon plc. The findings point to a steady compensation outlook as organizations recalibrate talent strategies amid regulatory and market shifts.The report indicates that salary increases will vary across industries, with certain sectors expected to outpace the national average.Real Estate, Infrastructure and NBFCs to See Strongest Salary Hikes The real estate or infrastructure sector is projected to offer the highest salary growth at 10.2 per cent, followed closely by non banking financial companies at 10.1 per...

Lucknow, February 24: Uttar Pradesh Chief Minister Yogi Adityanath held a substantive meeting with Singapore’s Minister for Manpower and Minister in-charge of Energy and Science and Technology, Dr. Tan See Leng, along with Mr. Kong Wy Mun, Chief Executive Officer of Singapore Cooperation Enterprise, to deepen collaboration between the two sides.During the engagement, the Chief Minister witnessed the signing of a Memorandum of Understanding between Invest UP and Singapore Cooperation Enterprise. The agreement establishes a strategic partnership aimed at strengthening institutional capacity and enhancing policy frameworks in Uttar Pradesh.Strategic Partnership for Capacity Building and Policy Development The MoU focuses on...

IBM Stock Sees Sharpest Drop Since 2000 Shares of IBM recorded their steepest single-day decline in more than 25 years on February 24, after fresh concerns emerged over how artificial intelligence could disrupt one of the company’s most stable revenue streams.The stock tumbled 13.2 per cent to close at $223.35, marking its biggest one-day fall since October 18, 2000. The sharp correction comes as investors reassess the long-term impact of AI on enterprise software and IT services businesses.So far this year, IBM shares have declined approximately 25 per cent, reflecting mounting uncertainty over how quickly AI-driven automation could reshape traditional IT models.Anthropic’s AI Tool Sparks Sell-Off The latest sell-off was...

FY26 Revenue Growth Accelerates to 6.1 Percent Mumbai, February 24: The Indian technology industry is projected to reach USD 315 billion in revenue in FY26, reflecting a growth rate of 6.1 percent, according to industry body Nasscom.The growth marks a marginal acceleration compared to FY25, when revenues rose by 5.9 percent. Nasscom also revised its FY25 revenue estimate upward to USD 297 billion from the earlier projection of USD 282.6 billion.Despite prevailing challenges, the industry is expected to sustain steady momentum into FY26, supported by expanding digital adoption and emerging technology demand.Tech Sector Remains a Net Job Creator Nasscom President Rajesh Nambiar stated that the Indian tech industry continues to...

₹556 Crore, Including Interest, Returned Within 24 Hours Chandigarh, February 24: Haryana Chief Minister Nayab Singh Saini informed the Assembly on Tuesday that the entire amount involved in the fraud linked to state government accounts at the IDFC First Bank branch in Chandigarh has been fully recovered and credited back to the government.Addressing the House, the Chief Minister stated that a total of ₹556 crore, including ₹22 crore as interest, was returned to the government account within 24 hours.He also revealed that the involvement of four to five employees of the bank’s Chandigarh branch has come to light.“No one, whether a bank employee, a private individual, or a government official, will be spared in this case,” Saini...

Zinc Prices Gain Rs 2.80 in March Contracts New Delhi, February 24: Zinc prices moved higher in futures trading on Tuesday, with the March contract rising by Rs 2.80 to settle at Rs 329 per kg on the Multi Commodity Exchange.The uptick reflects a measured recovery in zinc futures, even as traders maintained a cautious stance due to the absence of fresh market-moving triggers.MCX Zinc Futures See Moderate Activity On the Multi Commodity Exchange, zinc contracts for March delivery advanced Rs 2.80, marking a gain of 0.86 percent to reach Rs 329 per kg. The contract recorded a trading volume of 3,728 lots during the session.The movement in zinc futures indicates selective participation, with traders showing interest at lower price...

Crude Oil Prices Gain Rs 50 in March Contracts New Delhi, February 24: Crude oil prices advanced in futures trading on Tuesday, climbing by Rs 50 to settle at Rs 6,095 per barrel as market participants increased their positions amid firm demand in the physical market.On the Multi Commodity Exchange, crude oil contracts for March delivery rose by Rs 50, marking a 0.83 percent increase. The contracts were traded in 15,375 lots, reflecting heightened participation in the derivatives segment.Strong Spot Demand Lifts Futures Activity Market activity indicated that traders expanded their exposure in crude oil futures, supporting the upward movement in prices. Increased positioning in response to robust spot demand contributed to keeping...

New Delhi, February 24: Copper futures moved higher on Tuesday, supported by firm demand in the spot market and active participation from traders.Copper March Contracts Gain on MCX On the Multi Commodity Exchange, copper contracts for March delivery rose by Rs 5.45, or 0.46 percent, to trade at Rs 1,202.70 per kilogram. The contract recorded a trading volume of 13,539 lots during the session, reflecting steady market activity.Increased Spot Demand Lifts Copper Prices Market participants attributed the upward movement in copper futures to stronger spot demand, which provided support to prices. Analysts said increased speculation by traders also contributed to the gains, leading to fresh buying interest in the contract.The rise in...

New Delhi, February 24: Silver prices in India witnessed a marginal uptick in futures trading on Tuesday, supported by rising global uncertainties linked to fresh tariff threats from US President Donald Trump.On the Multi Commodity Exchange, silver contracts for March delivery climbed Rs 252, or 0.09 percent, to trade at Rs 2,65,585 per kilogram. The contract recorded a trading volume of 6,002 lots during the session.Comex Silver Gains Over 1.5 Percent In the international market, Comex silver futures rose sharply by USD 1.3, or 1.52 percent, reaching USD 87.8 per ounce. The rally in overseas prices lent support to domestic silver futures.Trump Tariff Threats Lift Bullion Sentiment Silver prices strengthened after US President...

New Delhi, February 24: India’s tourism sector is poised for a major expansion as the Union Budget 2026-27 outlines a comprehensive set of measures aimed at strengthening institutional capacity, improving service quality, and enhancing destination competitiveness across the country.According to an official fact sheet released on Tuesday, tourism has been identified as a strategic growth driver due to its strong multiplier effect and its ability to generate widespread employment across hospitality, transport, handicrafts, and allied services.Tourism’s Contribution to GDP and Employment Data from the India Tourism Data Compendium 2025 highlights the sector’s significant economic footprint. Tourism contributes 5.22 percent to India’s...

Jharkhand Budget 2026-27: ₹1.58 Lakh Crore Outlay, Mahila Khushhali Yojna Announced for Women Farmers Jharkhand Government Presents ₹1.58 Lakh Crore Budget for FY27 Ranchi, February 24: The Jharkhand government on Tuesday presented a ₹1.58 lakh crore budget for the financial year 2026-27 in the state assembly, marking an increase from the ₹1.45 lakh crore outlay announced for 2025-26.Finance Minister Radhakrishna Kishore tabled a total budget of ₹1,58,560 crore, outlining the government’s focus on inclusive growth across sectors.“I have placed before the House a budget of ₹1,58,560 crore for the 2026-27 financial year,” the minister said during the presentation.Focus on Inclusive Growth: Poor, Farmers, Tribal Communities and Women...

Bombay High Court Lifts Stay on Fraud Classification of Anil Ambani’s Bank Accounts Division Bench Quashes Single Bench Order, Backs RBI Master Directions Mumbai, February 24: The Bombay High Court has lifted the interim stay that had restrained three public sector banks from classifying industrialist Anil Ambani and Reliance Communications Ltd as fraudulent borrowers under the Master Directions issued by the Reserve Bank of India.A division bench comprising Chief Justice Shree Chandrashekhar and Justice Gautam Ankhad on Monday set aside the December 2025 order of a single bench, which had stayed action initiated by Indian Overseas Bank, IDBI Bank, and Bank of Baroda. The bench described the earlier order as perverse, illegal, and...

Grants of £100,000 to £200,000 Announced for Green and Digital Solutions New Delhi, February 24: The Global System for Mobile Communications Association on Tuesday announced the launch of a new Innovation Fund aimed at accelerating the green transition in low and middle income countries. The fund will offer grants ranging from £100,000 to £200,000 to support small and growing enterprises that leverage mobile and digital technologies to drive sustainable development.The initiative targets enterprises operating across Africa, Central and South America, and South and Southeast Asia, with a focus on scaling practical and commercially viable solutions.Focus on Clean Energy, Circular Economy and Climate Action According to the...

Capacity Expansion to Ease Pressure on Metro Hubs New Delhi, February 24: India’s alternative airports, developed to reduce congestion at major metropolitan hubs, are projected to achieve a combined annual passenger handling capacity of around 40 million by the end of 2026, according to a report released on Tuesday by Crisil Ratings.The report highlights that these airports will play a pivotal role in accommodating rising air travel demand as older airports in key metropolitan regions operate close to their design limits.Capacity to Rise to 45–50 Million by FY30 Over the next four financial years, further expansion at these alternative airports is expected to raise total annual capacity to between 45 million and 50 million...

Gold Futures Decline on MCX Amid Profit Booking Gold prices eased in futures trade on Tuesday, reflecting cautious investor sentiment amid renewed global trade uncertainties triggered by fresh tariff measures in the United States.On the Multi Commodity Exchange, gold contracts for April delivery fell by Rs 496, or 0.31 per cent, to Rs 1,61,102 per 10 grams. The contract recorded a business turnover of 7,587 lots during the session.The decline pulled gold prices to around Rs 1.61 lakh per 10 grams, as traders booked profits following recent gains.Comex Gold Falls Below USD 5,200 Per Ounce In the international market, Comex gold futures for the April contract dropped by USD 28.16, or 0.54 per cent, to USD 5,197.44 per ounce. The...