Government IT spending in India to reach $9.5 bn this year

New Delhi (IANS) The government IT spending in India is likely to reach $9.5 billion in 2022, an increase of 12.1 per cent from last year, a new report said on Monday.

Software will continue to be the highest growing segment in India this year,…

Knives are out as edtech platforms open physical tuition centres

New Delhi (IANS) As the battered edtech platforms enter the physical tuition centre space, knives are out and the traditional coaching institutes have threatened their teachers on leaving the institutes.

As schools and colleges reopen, leading…

Centre issues new guidelines to protect consumers from misleading ads

New Delhi (IANS) The Centre on Friday said it has notified 'Guidelines for Prevention of Misleading Advertisements and Endorsements for Misleading Advertisements, 2022' with an objective to curb "misleading advertisements" and protect the…

Logistics management startup FarEye lays off 250 employees

New Delhi (IANS) End-to-end global delivery management platform FarEye has laid off nearly 250 employees amid the funding winter that has engulfed the startup ecosystem.

The company has asked some of its workforce to leave because of "strategic…

PSEs will have to scale-up, build capacities to survive in competitive market: Sitharaman

Gandhinagar (IANS) Union Finance Minister Nirmala Sitharaman on Thursday said the Public Sector Enterprises (PSE) in the strategic core sector need to scale-up their performances and if required should enter into a partnership with the private sector…

RBI raises repo rate by 50 bps, sees inflation over tolerance level till Q3FY23

New Delhi (IANS) The Reserve Bank of India has raised the repo rate by 50 basis points to 4.9 per cent, Governor Shaktikanta Das said on Wednesday, adding that inflation was likely to remain above the upper tolerance level for three quarters of this…

RBI says further cut in state VAT on fuels can soften inflationary pressure, expectations

New Delhi (IANS) A further reduction of state value added taxes on petrol and diesel across the country would certainly contribute to softening of the inflationary pressures as well as the inflationary expectations, said the Reserve Bank of India…

EOGEPL crosses the 0.8 mmscmd mark of gas production

Mumbai/Durgapur (IANS) Essar Oil and Gas Exploration and Production Ltd (EOGEPL), Indias pioneering unconventional hydrocarbon (Coal Bed Methane) player, announced crossing 0.8 mmscmd of gas production and is successfully marching towards the benchmark…

Edtech startup PhysicsWallah raises $100 mn, becomes new unicorn

New Delhi (IANS) Edtech startup PhysicsWallah has raised $100 million in Series A funding from Westbridge and GSV Ventures, becoming India's 101st unicorn and the first edtech player to achieve this milestone, the company announced on Tuesday.

High commodity prices continue to weigh on trade deficit, estimate for FY23 at $90bn: Acuite

New Delhi (IANS) The expectation of the expansion of the current account deficit is not just driven by elevated global commodity prices, but is also linked to the unlocking of the economy reviving pent-up demand and improved vaccination cover aiding…