Business Industry

JSW Group Announces ₹1 Lakh Crore Investment for Mega Steel Plant

By BPN News Desk February 8, 2025

In a significant move to bolster India’s steel production capacity, JSW Group has unveiled plans to invest ₹1 lakh crore in the Gadchiroli district of Maharashtra. This substantial investment is directed towards establishing a state-of-the-art steel plant with an annual production capacity of 25 million tonnes. The project is anticipated to be completed over the […]

Business Finance

Cabinet Set to Approve New Income Tax Bill for Reforms

By BPN News Desk February 6, 2025

The Union Cabinet is set to approve a new Income Tax Bill on February 7, with plans to introduce it in the Lok Sabha during the ongoing Budget session. This bill seeks to replace the existing Income Tax Act of 1961 with a more streamlined and taxpayer-friendly system. Objective of the New Tax Bill The […]

Business Industry

Arbitrator to Decide on Trustees for Ratan Tata Foundation

By BPN News Desk February 5, 2025

In the absence of explicit written instructions from the late Ratan Tata regarding the appointment of trustees to the Ratan Tata Endowment Foundation (RTEF), stakeholders are considering arbitration to resolve the matter. The proposed arbitrator is expected to be a retired Chief Justice of the Supreme Court, who will determine whether the authority to appoint […]

Business Industry

Automakers Challenge Proposed Safeguard Duty on Steel Imports

By BPN News Desk February 5, 2025

Indian automobile manufacturers are expressing concerns over a proposed safeguard duty on certain steel imports, emphasizing the absence of domestically produced alternatives that meet stringent emission and safety standards. Investigation into Steel Imports On December 19, 2024, the Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce, initiated an

Business

Gayatri Yadav Appointed as Reliance Industries’ Group CMO

By BPN News Desk February 5, 2025

Reliance Industries has announced the appointment of Gayatri Yadav as its Group Chief Marketing Officer (CMO) and Executive Vice President (EVP) of Strategic Initiatives in the Chairman’s Office. In her new role, Yadav will collaborate closely with key members of the leadership team to enhance brand impact, drive innovation, and strengthen consumer connections.

Business Finance

GST Fraud Racket Uncovered: Fake Invoices Worth ₹658.55 Crore Detected

By BPN News Desk February 5, 2025

In a significant crackdown on tax evasion, the Central GST Itanagar Commissionerate has unearthed a fraudulent scheme involving the issuance of fake invoices valued at ₹658.55 crore without any actual supply of goods. This illicit activity has resulted in an estimated loss of approximately ₹100 crore to the government exchequer. Discovery of the GST Fraud […]

Business Finance

Rupee Falls to Record Low as US Tariffs Shake Markets

By BPN News Desk February 3, 2025

The Indian rupee has depreciated to a record low of 87.29 against the US dollar, following heightened global trade tensions. The sharp decline is attributed to new US tariffs on major trading partners, which have caused uncertainty in financial markets and increased demand for the dollar. US Tariffs and Market Reaction The United States recently […]

Business Industry

Govt to Offer Loans Up to ₹100 Cr for MSMEs

By BPN News Desk January 31, 2025

The Indian government has announced a new financial initiative to support Micro, Small, and Medium Enterprises (MSMEs) by offering loans of up to ₹100 crore under a mutual credit guarantee scheme. The move aims to strengthen the financial backbone of MSMEs and enhance their contribution to the economy. “The new mutual credit guarantee scheme will […]

Finance

Indian Stock Market Suffers Rs 24 Lakh Crore Wipeout

By BPN News Desk January 31, 2025

The Indian stock market has witnessed a sharp decline, erasing Rs 24 lakh crore in valuation amid a prolonged losing streak, making it the worst market downturn since 2001. Investors have been hit hard as benchmark indices continued their downward trajectory due to concerns over global economic uncertainties and domestic market volatility. “This is the […]

Business Industry

Gold Prices Hit Record ₹83,800 Amid Global Market Trends

By BPN News Desk January 31, 2025

Gold prices surged to an all-time high of ₹83,800 per 10 grams, reflecting increasing investor interest and global economic uncertainties. The precious metal’s rally has been fueled by strong demand, geopolitical tensions, and shifting monetary policies across major economies. Factors Driving the Gold Price Surge Several key factors have contributed to the latest spike in