The National Stock Exchange has removed Adani Ports and Special Economic Zone and Ambuja Cements from the additional surveillance framework. Earlier this month, the exchange had placed three Adani group stocks–Adani Enterprises, Adani Ports, and Ambuja Cements under additional surveillance measures (ASM) to curb excessive volatility.
India’s foreign exchange reserves dropped by $1.494 billion to reach $575.267 billion as of February 3, snapping a three-week rising trend, RBI data showed on Friday. In the previous reporting week, the overall reserves had jumped by $3.03 billion to $576.76 billion. In October 2021, the country’s forex kitty had reached an all-time high of $645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments. For the week ended February 3, the foreign currency assets, a major component of the reserves, decreased by $1.323 billion to $507.695 billion, according to the Weekly Statistical Supplement released by the RBI.
Animal Welfare Board of India (AWBI) on Friday said it has withdrawn the appeal to celebrate February 14 as ‘Cow Hug Day’ following directions from the government. February 14 is observed as Valentine’s Day across the world. “As directed by the competent authority and Ministry of Fisheries, Animal Husbandry and Dairying, the appeal issued by the Animal Welfare Board of India for celebration of Cow Hug Day on 14th February, 2023 stands withdrawn,” the board’s Secretary S K Dutta said in a notice. It was for the first time that the AWBI had appealed to cow lovers in the country to celebrate ‘Cow Hug Day’.
Finance Minister Nirmala Sitharaman made several key statements while speaking during Budget Session in the Lok Sabha on Friday. Addressing the Parliament, she stated that the new tax regime has been made very attractive to encourage economic growth and boost the confidence of investors.
Prime Minister Narendra Modi will throw open the three-day UP Global Investors’ Summit (GIS) 2023, here on Friday. He is also scheduled to address a select group of industry captains on the sidelines of the event. To prepare for the mega event, Lucknow has been given a facelift. The venue, ‘Vrindavan Yojana’ — spread over nearly 70 acres — will become the ground zero for showcasing ‘Brand UP’ to a galaxy of global and domestic industrialists, investors, and economic think-tanks. UP has so far received investment proposals worth Rs 27 trillion from more than 18,000 companies across different sectors, while the government has already signed Memorandums of Understanding (MoUs) with a large number of corporations.