Top headlines: PPF, NSC interest rates unchanged; SpiceJet settles dispute

Business Standard brings you the top headlines on Thursday

Interest rates on small savings schemes unchanged for first quarter of FY23

The government on Thursday kept interest rates on small savings schemes, including NSC and PPF, unchanged for the first quarter of 2022-23 due to an elevated level of inflation.

The interest rate has not been revised since the first quarter of 2020-21. Read more

India's fiscal deficit touched 82.7% of full-year target at end of Feb

The Centre's fiscal deficit at the end of February stood at 82.7 per cent of the full year budget target, mainly on account of higher expenditure, according to government data released on Thursday.

In the last financial year, the fiscal deficit or gap between the expenditure and revenue was 76 per cent of the Revised Estimate (RE) of 2020-21. Read more

Shah announces reduction of areas under AFSPA in Nagaland, Assam, Manipur

In a major outreach to the Northeast, Union Home Minister Amit Shah on Thursday announced reduction of the disturbed areas imposed under the Armed Forces (Special Powers) Act (AFSPA) in Nagaland, Assam and Manipur after decades.

A home ministry spokesperson, however, said the decision does not imply that the AFSPA has been completely withdrawn from the three insurgency-hit states but will continue to be in force in some areas of the three states. Read more

Reliance Group in letter defends its takeover of Future Retail stores

India's top retailer, Reliance, has privately defended an abrupt takeover of the stores of debt-laden rival Future Retail, saying mounting dues of $634 million compelled it to act beyond expectations, a company letter shows.

The takeover was part of the race to dominate a $900-billion retail sector that set off a bitter dispute in which India's Supreme Court will decide whether Reliance or Amazon.com Inc gets to scoop up Future's assets. Read more