- Thursday, May 01, 2025
By: Shubham Ghosh
Here are news in brief related to Indian economy and business for Thursday, October 13, 2022:
Faced with twin challenges of slowing growth rate and high inflation, Indian finance minister Nirmala Sitharaman has said that her budget for the next financial year will be ‘very carefully structured’ to help the economy sustain growth momentum and rein in prices, Press Trust of India reported. She identified high energy prices among the biggest problems facing the Indian economy in the near future. “Specifics [of the next budget] may be difficult at this stage because it’s a bit too early. But broadly, the growth priorities will be kept absolutely on the top. Even as I speak about the concerns that inflation brings before me. So, inflation concerns will have to be addressed. But then how would you manage growth would be the natural question,” she said in Washington DC.
Andhra Pradesh, Assam and Gujarat are among the 15 Indian states and union territories (UTs) categorised as achievers in the logistics index chart 2022, according to a report released by the country’s commerce and industry ministry on Thursday, PTI reported. The index is an indicator of the efficiency of logistical services necessary for promoting exports and economic growth. Kerala, Madhya Pradesh, Rajasthan, Puducherry, Sikkim and Tripura are the other states categorised as fast movers in the ranking. The 15 States and UTs ranked in the aspirers category include Bihar, Chhattisgarh, Goa, Mizoram, Andaman and Nicobar Islands, Lakshadweep, Ladakh, Nagaland, Jammu and Kashmir, and Arunachal Pradesh. The other states and UTs which are in the achievers category include Chandigarh, Delhi, Haryana, Himachal Pradesh, Karnataka, Maharashtra, Odisha, Punjab, Tamil Nadu, Telangana, Uttar Pradesh and Uttarakhand.
The drug regulator of India’s Maharashtra state has ordered sample checks on all oral liquid solutions in the state, asking for reports on the levels of diethylene glycol and ethylene glycol, CNBC TV18 reported on Thursday. The regulator’s direction comes a day after Indian health authorities said they had halted all production of New Delhi-based Maiden Pharmaceuticals following a WHO report that its cough and cold syrups exported to Gambia may be linked to the deaths of dozens of children there. [source: Reuters]
India’s state-owned BHEL (Bharat Heavy Electricals Limited) said it has entered into two separate agreements with Coal India and NLC India Ltd to set up coal gasification based plants, PTI reported. Under the Memorandum of Understanding (MoU) with Coal India Limited (CIL), BHEL said it will jointly set up a coal to ammonium nitrate project based on gasification of high ash domestic coal. As per the agreement with NLC India Limited (NLCIL), a lignite-based gasification pilot plant will be set up for power generation, utilising BHEL’s indigenously-developed Pressurised Fluidised Bed Gasification (PFBG) technology.
India’s second-largest IT services firm Infosys on Thursday said its consolidated net profit surged by 11.1 per cent year-on-year to Rs 6,021 crore (£651.2 million) for the second quarter of the current financial year as compared to Rs 5,421 core (£586.3 million) recorded in the corresponding period of the previous year, Asian News International reported. The company’s revenue from operations jumped by 23.4 per cent to Rs 36,538 crore (£3.9 billion) for the quarter ended September 30, 2022 as compared to Rs 29,602 crore (£3.2 billion) recorded in the corresponding quarter of the previous year. Sequentially, Infosys revenue grew six per cent while net profits increased by 12.3 per cent during the quarter under review year-on-year. “Our strong large deal wins and steady all-round growth in Q2 reflect the deep relevance and differentiation of our digital and cloud solutions for clients as they navigate their business transformation,” Infosys chief executive officer and managing director Salil Parekh said in a statement.
DS Dosa Factory Private Limited, one of the prominent South Indian restaurant chains based in Delhi, is celebrating its sixth anniversary and steadfast dedication to offering authentic South Indian dishes to foodies in Northern India, ANI reported. Sunjjoy Bhardwaj founded DS Dosa Factory in 2016, with their first location in Vaishali, one of the busiest areas in Delhi NCR. The concept behind opening the restaurant was to serve traditional South Indian cuisines alongside mouthwatering North Indian palates to satiate the taste buds of Delhi’s foodies. Bhardwaj was determined to give Delhiites a place to socialise, dine, and create relationships. DS Dosa Factory was founded on the principles of creating long-lasting relationships with South Indian delicacies, mouth-watering dishes, world-class cuisines, superb service, personal space, and an awesome ambiance, and, most significantly, affordable costs.
