Business highlights

Following are the top business stories at 1940 hours: DEL121 BIZ-LD SURVEY Indian economy to grow 6-6.8% next fiscal year: Eco Survey New Delhi: India's economy is projected to slow to 6-6.8 per cent in the fiscal year starting April - still remaining the fastest growing major economy in the world - as extraordinary challenges facing the globe will likely hurt exports, the Economic Survey said on Tuesday.

DEL128 BIZ-FISCAL DEFICIT Centre's fiscal deficit touches nearly 60 pc of full-year target at end-Dec New Delhi: The government's fiscal deficit as of end-December touched 59.8 per cent of the full-year Budget Estimate on subdued growth in revenue collections, according to finance ministry data released on Tuesday.

DEL138 BIZ-SURVEY-LD CEA Economy poised to do better; expected to clock 6.5-7% in remaining part of current decade: CEA New Delhi: Indian economy is poised to do better on the back of reforms undertaken by the government and is expected to clock a 6.5-7 per cent growth in the remaining part of the decade, Chief Economic Advisor (CEA) V Anantha Nageswaran said on Tuesday.

DEL123 BIZ-SURVEY-FISCAL PRUDENCE Eco Survey suggests govt to follow fiscal prudence as low interest rates benefit all New Delhi: Amid expectations of tax relief for middle class in the Budget, Economic Survey on Tuesday suggested that the government should follow the path of fiscal prudence as it will benefit all sections of society by keeping interest rates low.

DEL116 BIZ-LD STOCKS Markets eke out modest gains ahead of Budget, Fed's rate decision; Eco Survey projects 6 - 6.8 pc GDP growth in FY24 Mumbai: Equity benchmarks ended with marginal gains on Tuesday as investors kept their powder dry ahead of the Union Budget presentation and the US Federal Reserve's interest rate decision.

DEL100 BIZ-RUPEE-CLOSE Rupee falls 41 paise to close at 81.93 against US dollar Mumbai: The rupee depreciated by 41 paise to close at 81.93 (provisional) against the US dollar on Tuesday after the Economic Survey 2022-23 said the domestic unit may remain under pressure on account of plateauing of exports and subsequent widening of current account deficit.

DEL137 BIZ-SURVEY-CEA-ADANI CEA Nageswaran refuses comment on Adani controversy New Delhi: Chief Economic Advisor (CEA) V Anantha Nageswaran on Tuesday refused to comment on the impact of the rout in Adani Group shares following a damning report by a US-based short seller.

DEL113 BIZ-SURVEY-REFORMS Entirely dismantle licensing, inspection and compliance regime: Eco Survey New Delhi: The Economic Survey 2022-23 on Tuesday recommended ''entirely'' dismantling the licensing, inspection and compliance regime, and a host of other reforms to accelerate economic growth to sustained higher levels.

DEL89 BIZ-SURVEY-AGRI Indian farm sector performed well, but needs re-orientation: Eco Survey New Delhi: Indian agriculture has performed well but the sector needs ''re-orientation'' in the backdrop of certain challenges like adverse impacts of climate change, rising input cost, etc, the Economic Survey for 2022-23 tabled in Parliament on Tuesday said.

DEL87 BIZ-SURVEY-AVIATION 'Great potential' in India's civil aviation sector; air travel has rebounded: Economic Survey New Delhi: The country's civil aviation sector has ''great potential'' owing to growing demand from the middle class, higher disposable incomes and favourable demographics, while air travel has rebounded with the lifting of the coronavirus pandemic-related curbs, according to the Economic Survey.

DEL83 BIZ-SURVEY-INFRA Infra, capex boost helped India steer through setback due to Covid, geopolitical situation: Survey New Delhi: The global economy is still recovering from the setback due to Covid-19 pandemic while geopolitical conflicts continue and India could successfully steer through the situation owing to its dedicated support to infrastructure through increased capex and strong macroeconomic fundamentals, the Economic Survey said on Tuesday.

DEL70 BIZ-SURVEY-CAPEX Capital expenditure target of Rs 7.5 lakh cr for FY23 to be met: Survey New Delhi: Capital expenditure has started pushing private investment and the Budget target of Rs 7.5 lakh crore for the current financial year is likely to be met, the Economic Survey 2022-23 said.

DCM24 BIZ-SURVEY-EMPLOYEMENT Buoyancy in construction activities created jobs, facilitated return of migrant workers to cities: Survey New Delhi: Buoyancy in the real estate sector along with improved construction activities created jobs and facilitated the return of migrant workers to cities, the Economic Survey for 2022-23 tabled in Parliament on Tuesday said.

DEL68 PREZ-AVIATION India has become world's third-largest aviation market: President Murmu New Delhi: India has become the third-largest aviation market in the world and is growing rapidly, with the number of airports increasing to 147 from just 74 in 2014, President Droupadi Murmu said on Tuesday.

DEL67 BIZ-SURVEY-RUPEE Rupee may remain under depreciation pressure, says Economic Survey New Delhi: The Indian rupee may remain under depreciation pressure on account of plateauing of exports and subsequent widening of the current account deficit, said the Economic Survey 2022-23 tabled in Parliament on Tuesday.

DEL61 PREZ-GATI SHAKTI Govt took concrete steps to deal with infrastructure development challenges: Prez Murmu New Delhi: President Droupadi Murmu on Tuesday said the government has taken concrete steps and has prepared the PM Gati-Shakti National Master Plan to deal with infrastructure development challenges.

DEL120 BIZ-INFRA-GROWTH Core sector growth at 3-month high of 7.4 pc in Dec New Delhi: Production of eight infrastructure sectors rose at a three-month high of 7.4 per cent in December 2022 against 4.1 per cent in the same month of previous year on a better show by coal, fertiliser, steel, and electricity segments, according to the official data released on Tuesday.

DEL72 BIZ-SURVEY-LD MSME ECLGS shielded MSMEs from financial distress: Eco Survey New Delhi: The Emergency Credit Linked Guarantee Scheme shielded India's micro, small and medium enterprises from financial distress, with their quick recovery supported by ''remarkably high'' credit growth, reflected in the rise of goods and services tax paid by the units, as per the Economic Survey 2022-23 tabled in Parliament on Tuesday.

FGN53 BIZ-ADANI-ISRAEL Adani to set up AI lab in Tel Aviv, develop real estate in Haifa Haifa (Israel): Indian tycoon Gautam Adani's ports-to-energy conglomerate will set up an artificial intelligence lab in Tel Aviv as it looks to leverage on a USD 1.2 billion Haifa port deal to make more investments in Israel.

DEL94 BIZ-ADANI-FPO Adani Enterprises FPO fully subscribed New Delhi: The Rs 20,000 crore share sale of Adani group's flagship firm was fully subscribed on Tuesday after non-retail investors bid in big volumes, according to stock exchange data.

DEL130 AVI-SCINDIA-LD REGIONAL AIRLINES UDAN is giving birth to regional airlines: Scindia New Delhi: The government's regional air connectivity scheme, which has created a landmark, is giving birth to regional carriers in a country that in the last 20 years has seen closing down of airlines, Civil Aviation Minister Jyotiraditya Scindia said on Tuesday.

DEL104 BIZ-GOLD-PRICE Gold declines Rs 105; silver tumbles Rs 379 New Delhi: Gold price in the national capital declined Rs 105 to Rs 56,780 per 10 gram on Tuesday amid weak global cues, according to HDFC Securities.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)