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    Jammu, Feb 22 (PTI) The Jammu and Kashmir administration has approved the setting up of seven new industrial estates at a cost of Rs 304.51 crore, an official spokesperson said on Thursday. The estimated investment in these industrial estates, spread over 5,290 kanal across six districts, is Rs 8,700.16 crore with employment potential of 28,376 people, the spokesperson said. He said the administrative approval for the development of seven new industrial estates was accorded by the administrative council that met here under the chairmanship of Lt Governor Manoj Sinha. The seven new industrial estates will be developed at Sempora Medicity and Khunmoh-Panthachowk in Srinagar, Banderpora in Budgam, Bhagthali in Kathua, Karandi in Samba, Trenz in Shopian, and Hariparigam Tral in Pulwama. The new industrial estate at Sempora on 517 kanal of state land shall be developed by IRCON at an estimated cost of Rs 22.60 crore, and the project will attract an investment of Rs 1,825.45 crore, having an employment generation potential of around 11,643. The industrial estate at Khunmoh, Pantha Chowk, on 600 kanal of land shall be developed at an estimated cost of Rs 45.36 crore by IRCON, he said, adding the project will attract investment of Rs 465 crore and has employment potential of around 355. He said the industrial estate at Bhagthali, Kathua, on 2,949 kanal shall be developed at an estimated cost of Rs 83.13 crore by NBCC. The project will attract an investment of Rs 4,599.89 crore and has employment potential of around 8,278, the spokesperson said.

    Seven New Industrial Estates To Come Up In J&K

    MARKETS Bazar Observer -
    Jammu- The Jammu and Kashmir administration has approved the setting up of seven new industrial estates at a cost of Rs 304.51 crore, an official spokesperson said...
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    Reliance First Indian Company To Settle At Rs 20 Lakh Cr M-Cap

    MARKETS Bazar Observer -
    Mumbai- Billionaire Mukesh Ambani's Reliance Industries on Wednesday became the first Indian company to achieve a market capitalisation of of Rs 20 lakh crore,...
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    RBI Asks Visa, Mastercard To Stop Card-Based Commercial Payments

    MARKETS Bazar Observer -
    Mumbai- The Reserve Bank has asked international payments major Visa and Mastercard to stop card-based commercial payments made by small and large businesses due...
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    Wholesale Inflation Eases To 3-Month Low Of 0.27% In Jan; Food Prices Cool

    MARKETS Bazar Observer -
    New Delhi- The wholesale price index (WPI)-based inflation eased to a three-month low of 0.27 per cent in January, mainly due to moderation of...
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    RBI Leaves Interest Rate Unchanged; Borrowing Cost To Largely Remain Stable

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    Mumbai- The Reserve Bank on Thursday left the key policy rate unchanged at 6.5 per cent for the sixth time, which may keep the cost...
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    RBI To Introduce Offline E-Rupee Transactions Soon: Das

    MARKETS Bazar Observer -
    Mumbai- Digital rupee users will soon be able to execute transactions in areas with limited internet connectivity as the RBI on Thursday announced that...
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    Sitharaman Presents Rs 47.66 Lakh Cr Budget, 6% Higher Than FY24

    MARKETS Bazar Observer -
    New Delhi- The size of Budget 2024-25 has increased 6.1 per cent to Rs 47.66 lakh crore because of rise in expenditure and higher...
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    Cabinet Clears Pre-Election Budget 2024-25

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    New Delhi- The Union Cabinet headed by Prime Minister Narendra Modi on Thursday approved the pre-election budget 2024-25, sources said.Following this, Finance Minister Nirmala...
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    New Delhi, Jan 3 (PTI) India's manufacturing sector growth fell to an 18-month low in December amid softer increase in factory orders and output, despite minimal inflation, a monthly survey said on Wednesday. The HSBC India Manufacturing PMI survey, conducted by S&P Global, showed that there were softer, albeit sharp, increase in factory orders and output, while business confidence towards the year-ahead outlook strengthened. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 56 in November to an 18-month low of 54.9 in December. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction. The HSBC India Manufacturing PMI is compiled by S&P Global from responses to questionnaires sent to purchasing managers in a panel of around 400 manufacturers. "India's manufacturing sector continued to expand in December, although at a softer pace, following an uptick in the previous month. Growth of both output and new orders softened, but on the other hand, the future output index rose since November," said Pranjul Bhandari, Chief India Economist at HSBC. Despite a loss of growth momentum, the sector still expanded strongly in December. New business gains, favourable market conditions, fairs and expositions collectively induced another sharp increase in manufacturing production during December, according to panellists. The December data showed a 21st consecutive increase in international order receipts at goods producers in India. "Companies noted gains from clients in Asia, Europe, the Middle East and North America. New export sales expanded at a moderate pace that was the joint-slowest in eight months," the survey noted. On the prices front, input costs rose at the second-slowest rate in nearly three-and-a-half years and charge inflation softened to a nine-month low. Among the items reported to have been up in price were chemicals, paper and textiles. Little-changed from November, however, the rate of inflation was negligible by historical standards and was the second-weakest in just under three-and-a-half years, as per the survey. "Rates of increase in input and output prices were broadly unchanged," Bhandari added. HSBC India PMI data showed a general lack of pressure on the capacity of manufacturers at the end of the third fiscal quarter. Subsequently, employment was largely stable in December. When assessing the year-ahead outlook for production, Indian manufacturers were at their most upbeat for three months. Anecdotal evidence highlighted advertising, better customer relations and new enquiries as the main factors boosting business confidence in December, the survey said.

    India’s Manufacturing Sector Growth Climbs To Four-Month High In Jan On Sharper Upturn In...

    MARKETS Bazar Observer -
    New Delhi, Feb 1 (PTI) India's manufacturing sector growth climbed to a four-month high in January as a sharper upturn in new orders boosted output...
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    GST Collections To Drive FY25 Gross Tax Revenue To Rs 38.31 Lakh Cr

    MARKETS Bazar Observer -
    New Delhi- The government's gross tax revenue is projected to grow 11.46 per cent to Rs 38.31 lakh crore in the next fiscal, buoyed...
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