Finance Minister Nirmala Sitharaman on Thursday said the banking sector will have to play a crucial role in driving the agenda of making India a developed nation or Viksit Bharat by 2047.

The government is considering to change the base year for computation of the GDP to 2022-23, from 2011-12 at present, to reflect an accurate picture of the economy, sources said on Thursday.

Jindal India, a downstream steel player, on Thursday announced its plans to invest ₹1,500 crore to increase its annual production capacity to 1.6 million tonne.

Markets regulator SEBI has amended rules to streamline the process for public issuance of debt securities aimed at providing faster access to funds for such issuers.

Under the amended rules, SEBI has reduced the period for seeking public comments on the draft offer documents from 7 working days to 1 day for issuers whose specified securities are already listed and 5 days for other issuers.

The government on Thursday announced steps, including reducing certain charges at ports and purchase of five additional second-hand container vessels by SCI, to resolve shipping sector-related problems of exporters and importers.

These measures were announced after a meeting of all the concerned stakeholders of the international trade segment, including senior officials of ministries like commerce and industry, shipping, ports, finance, civil aviation and railways; apex exporters body FIEO (federation of Indian export organisations), customs officials, freight forwarders, transport operators and shipping companies.