Business News: PMGKAY Extended, Sensex Soars, Rupee Rises

New Delhi, Nov 29 (PTI) Following are the top business stories at 2040 hours:


DEL44 CAB-LD-PMGKAY

Free grain distribution to 81.35 cr poor under PMGKAY extended for 5 years, says I&B minister Thakur

New Delhi: With general elections scheduled for April-May next year, the government on Wednesday extended the PMGKAY scheme to provide 5 kilogrammes of free foodgrains per month to 81.35 crore poor for another five years that would cost the exchequer about Rs 11.80 lakh crore.


DEL58 CAB-2ND LD FINANCE COMMISSION

Govt clears Terms of Reference of 16th Finance Commission

New Delhi: The government has cleared the Terms of Reference of the 16th Finance Commission to suggest the ratio for devolution of taxes between the Centre and states and also review financing disaster management initiatives, for five years beginning April 1, 2026.


DEL70 BIZ-LD-STOCKS

Sensex jumps 727 pts on foreign fund inflows; Mcap of BSE listed cos hits USD 4-trn milestone

Mumbai: Benchmark Sensex rallied 727 points and Nifty closed above the 20,000 mark on Wednesday driven by buying in heavyweight HDFC Bank, Axis Bank ICICI and TCS on expectations of more foreign fund inflows.



DEL98 BIZ-LD-RUPEE

Rupee rises 2 paise to settle at 83.32 against US dollar on FII inflows

Mumbai: The rupee appreciated by 2 paise to close at 83.32 against the US dollar on Wednesday in its second straight day of gains following FII inflows into capital markets and strong stocks rally.


DEL87 CAB-LD-AGRI DRONES

Cabinet nod for Rs 1,261 cr scheme to provide drones to 15,000 women SHGs for 2 years

New Delhi: The Union Cabinet has approved a central scheme to provide drones to 15,000 progressive women Self Help Groups (SHGs) with an outlay of Rs 1,261 crore for two years beginning 2024-25.


DEL69 BIZ-BSE-LD MCAP

Indian equity market enters coveted USD 4-trillion m-cap club for first time ever

New Delhi: The combined market valuation of all listed companies on the leading stock exchange BSE reached the USD 4-trillion milestone for the first time ever on Wednesday, mirroring a positive trend in equities.


DCM54 BIZ-STOCKS-LD IREDA

IREDA makes dream stock market debut; shares settle with premium of 87.5 pc

New Delhi: Shares of Indian Renewable Energy Development Agency (IREDA) made a remarkable stock market debut on Wednesday, ending with a premium of 87.5 per cent, against the issue price of Rs 32.



DEL96 TUNNEL-LD OFFICIAL

Silkyara tunnel project to continue after safety audit, repair of broken structure: Official

New Delhi: The 4.5 kilometres long Silkyara tunnel project in Uttarakhand, which is part of the central government's strategic 900-km 'Char Dham Yatra All Weather Road', will continue after the necessary safety audit and repair of the broken structure, a senior road ministry official said on Wednesday.


DEL56 BIZ-GOLD-PRICE

Gold rallies Rs 750 to record high of Rs 63,500; silver zooms Rs 800

New Delhi: Gold price rallied Rs 750 to Rs 63,500 per 10 grams in the national capital on Wednesday amid strong global trends, according to HDFC Securities.