NEW DELHI: For decades, India’s fiscal federal system has had one core element that stood out: poorer states would be supported so that growth could be shared.The 16th Finance Commission has not broken that promise on paper. States will still receive 41 percent of the divisible pool of central taxes. But beneath that headline number,…
NEW DELHI: The Employees’ Provident Fund Organisation (EPFO) exposure to the equity market has for the first time reached 10%, as the retirement fund body looks for avenues to augment its income to sustain the persistent high annual returns amid falling govt bond yields, where nearly 85% of its investible corpus is parked.“EPFO is allowed…
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Political consultancy firm Indian Political Action Committee (I-PAC) has come under scrutiny after its financial filings revealed that it received an unsecured loan of Rs 13.5 crore in 2021 from a company that, according to official government records, had ceased to exist years earlier. In its disclosures, I-PAC identified the lender as Ramasetu Infrastructure India…
Losing a race is unusual for the crypto industry’s political action committee, Fairshake, which has recorded a dominant record in the past two congressional elections. But the Illinois primaries this week saw its biggest-ever setback, likely to conclude with a new member of the Senate next year being somebody the PAC spent more than $10…
Pakistan’s foreign exchange reserves are nearing the government’s $18 billion target for FY26, but a widening trade deficit, mounting external payment obligations and pressure on the rupee are raising concerns about the country’s economic stability, PTI reported.Data released by the State Bank of Pakistan (SBP) showed the country’s foreign exchange reserves increased by $43 million…
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PM Modi celebrates ’12 years of Nari Shakti’, highlights NDA’s push for women-led development NEW DELHI: Prime Minister Narendra Modi on Friday celebrated “12 Years of Nari Shakti”, emphasising the steps and initiatives taken towards strengthening women’s empowerment by the government under his leadership.In an ‘X’ post, PM Modi stated that it reflected the prominent…
Check out the companies making headlines in after-hours trading. Costco Wholesale — Shares of the big-box retailer dipped less than 1% in the after-hours session. Costco reported $4.58 cents per share in earnings on revenue of $69.6 billion in the fiscal second quarter, while analysts polled by LSEG expected $4.56 cents per share in earnings…
