Chennai, February 18, 2025: REC Limited, through its CSR arm, REC Foundation, has signed a Memorandum of Association (MoA) with Sankara Eye Hospital, Pammal, Chennai wherein REC committed ₹6.00 Crore for the project ‘Eye Care for All’ – an initiative to provide support to 8,000 beneficiaries for cataract surgery. The MoA was formalized on February 17,...
Category: ECONOMY & POLICY
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Integrated Exhibition Cum Convention Centre (IECC), better known as Bharat Mandapam, achieves prestigious GRIHA 4-Star Rating
NBCC (India) Ltd. proudly announces that the Integrated Exhibition Cum Convention Centre (IECC), better known as Bharat Mandapam has been awarded the prestigious GRIHA 4-Star rating under the GRIHA V.2015 rating variant. This recognition underscores NBCC’s commitment to sustainable infrastructure and green building excellence. The redevelopment of the ITPO Complex into an Integrated Exhibition Cum Convention...
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NBCC Reports Robust 40% Surge in Net Profit
The Board of Directors, in its meeting held on February 11, 2025, approved the company’s financial results for the quarter and nine months ended December 31, 2024. Standalone Performance: Revenue from Operations stood at ₹2,047.77 Cr for the quarter and ₹5,540.01 Cr for the nine-month period, reflecting a YoY growth of 6.73% and 10.39%, respectively. Profit Before Tax (PBT) for the quarter was ₹171.26 Cr, while Profit...
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India’s Oil Minister Urges Energy Justice to Ensure Equitable Global Energy Transition
Union Minister Hardeep Singh Puri has said the emerging global energy order must be determined based on artificial intelligence and clean cooking, balancing immediate challenges with long-term vision, and resilient supply chains. Giving voice to an important concern of the 77 developing nations of the Global South, Hardeep Singh Puri, India’s Minister for Petroleum &...
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How Budget 2025-26 May Bolster Investments in India’s Infrastructure Sector
The Union Budget 2025-26 has laid down a bold roadmap for meeting the immense financing needs of the country’s infrastructure sector, write Neetu Vinayek and Jasdeep Sahni. The Union Budget 2025-26, unveiled by Finance Minister Nirmala Sitharaman, embodies a clear and ambitious vision. Recognising the pivotal role of investment in the economy as a key...
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REC wins Gold Shield in ICAI Award for Excellence in Financial Reporting for the Financial Year 2023-24
REC Limited, a Maharatna Public Sector Enterprise and a leading NBFC- IFC under the Ministry of Power, Government of India, has been awarded ‘Gold Shield’ under the ‘Financial Services Sector (Other than Banking and Insurance)’ category ‘ICAI Awards for Excellence in Financial Reporting for the financial year 2023-24’. The prestigious recognition reflects the commitment of...
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Budget 2025: Key Highlights
On February 1, 2025, Finance Minister Nirmala Sitharaman presented the Union Budget for the financial year 2025-26 in Parliament. This marks the eighth budget by Sitharaman, making her the first finance minister in India’s history to present so many budgets. It is also the first budget of Prime Minister Narendra Modi’s third term. Sitharaman emphasised...
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Budget 2025: Key Announcements Impacting Real Estate
Key takeaways for the real estate sector include: • Income tax relief for the middle class: The finance minister announced zero income tax for individuals earning up to Rs 12 lakh annually, providing a major consumption boost. This move is also expected to strengthen demand for affordable housing. Additionally, the new income tax bill will...
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Rs 1 trn Urban Challenge Fund to Boost Infrastructure
Finance Minister Nirmala Sitharaman announced that the Indian government will establish a Rs 1 trillion Urban Challenge Fund to enhance urban infrastructure. The fund aims to support cities as centres of economic growth by financing up to 25 per cent of bankable projects, with a focus on creative city redevelopment, water, and sanitation initiatives. The...
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FM Unveils Major Initiatives for Bihar in 2025 Union Budget
In her eighth consecutive budget presentation in Parliament, Union Finance Minister Nirmala Sitharaman laid out a roadmap for achieving “Sabka Vikas” by ensuring inclusive growth across all regions of India. Emphasising the country’s strong economic trajectory, she highlighted India’s position as the fastest-growing economy among major nations. Sitharaman underscored the government’s commitment to harnessing the...