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GST recommendations to create business-friendly environment, ensure fairness: Experts The 55th GST Council meeting has unveiled a series of pivotal recommendations designed to deliver targeted relief, streamline compliance processes, resolve industry ambiguities and promote trade facilitation, experts said on Sunday.  Among the key proposals is a retrospective amendment to the blocked credit provisions, which now replaces the term “plant or machinery” with “plant and machinery” in line with the Supreme Court’s ruling in the Safari Retreats...
GST recommendations to create business-friendly environment, ensure fairness: Experts
GST recommendations to create business-friendly environment, ensure fairness: Experts
Source: IANS
2024-12-22 04:20:14 pm
CII seeks priority sector lending for new and emerging sectors The Confederation of Indian Industry (CII) has sought reforms in India's Priority Sector Lending (PSL) framework to enable the setting up of more Development Finance Institutions (DFI) to provide funds to new and emerging sectors such as digital infrastructure, green initiatives, healthcare, and innovative manufacturing.  "The current Development Finance Institutions like SIDBI and NABFID have their roles cut out as they have earmarked sectors to finance. Therefore, CII has s...
CII seeks priority sector lending for new and emerging sectors
CII seeks priority sector lending for new and emerging sectors
Source: IANS
2024-12-22 04:18:32 pm
India`s tax panel rejects airlines` call to add aviation fuel to GST regime An Indian government panel has rejected an airline industry proposal for aviation fuel to be brought under the unified Goods and Services Tax (GST), the finance minister said after a meeting of the panel on Saturday. Currently, state governments choose how to tax aviation turbine fuel (ATF). Airlines have been lobbying to include it in the GST regime so the levy is the same nationwide, but state authorities have opposed that, fearing they could lose revenue. "States do not want ATF...
India`s tax panel rejects airlines` call to add aviation fuel to GST regime
India`s tax panel rejects airlines` call to add aviation fuel to GST regime
Source: Reuters
2024-12-22 03:20:34 pm
For PM Narendra Modi, green economy is another way to bring more people out of poverty: Erik Solheim  As India strives towards a green future, Prime Minister Narendra Modi's clean energy policies are creating some wonderful opportunities, which will not only help India achieve its Net Zero goal but also pull millions more out of poverty, Erik Solheim, Former Minister of Climate and the Environment of Norway, has stressed.  Nearly 25 crore Indians have come out of "multidimensional poverty in the last nine years", with poverty levels declining to 11.28 per cent in 2...
For PM Narendra Modi, green economy is another way to bring more people out of poverty: Erik Solheim
For PM Narendra Modi, green economy is another way to bring more people out of poverty: Erik Solheim
Source: IANS
2024-12-22 11:19:08 am
Explained: Key recommendations of 55th GST Council meet  From reducing GST rate on fortified rice kernel (FRK) to fully exempt GST on gene therapy, the 55th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman, on Saturday made some key recommendations to provide relief to individuals and businesses.  The Council recommended exemption of GST on contributions by general insurance companies from third-party motor vehicle premiums for Motor Vehicle Accident Fund. It also recommended no GST on transaction of vouche...
Explained: Key recommendations of 55th GST Council meet
Explained: Key recommendations of 55th GST Council meet
Source: IANS
2024-12-22 09:19:21 am
Quote on Post GST Council Meeting Insights by Gyanendra Tripathi, Partner & Leader (West), Indirect Tax, BDO India Below the Quote on Post GST Council Meeting Insights by Gyanendra Tripathi, Partner & Leader (West), Indirect Tax, BDO India   * The decision to retrospectively amend the CGST Act to overcome the Supreme Court decision in the case of the Safari Retreat would not be welcomed by the industry at large. Post the decision, many companies had claimed the ITC relating to the construction of some immovable properties (qualifying as a plant) for the past period and did not uti...
Quote on Post GST Council Meeting Insights by Gyanendra Tripathi, Partner & Leader (West), Indirect Tax, BDO India
Quote on Post GST Council Meeting Insights by Gyanendra Tripathi, Partner & Leader (West), Indirect Tax, BDO India
Source: BDO India
2024-12-22 09:16:58 am
GST on rice kernels slashed to help poor, no hike in tax for salted popcorn: Nirmala Sitharaman Union Finance Minister Nirmala Sitharaman on Saturday announced that the Goods and Services Tax Council has approved the reduction of GST on rice kernels to 5 per cent, exempted life-saving gene therapy from tax, and extended the GST exemption for parts used in manufacturing surface-to-air missiles (SAM).  Addressing the media here after the 55th GST Council meeting, the Finance Minister said the decision to cut GST on rice kernels from 18 per cent to 5 per cent has been taken as the ...
GST on rice kernels slashed to help poor, no hike in tax for salted popcorn: Nirmala Sitharaman
GST on rice kernels slashed to help poor, no hike in tax for salted popcorn: Nirmala Sitharaman
Source: IANS
2024-12-22 09:13:07 am
AUM of NPS to reach Rs 15 lakh crore by end of this fiscal: PFRDA Chairman The Pension Fund Regulation and Development Authority (PFRDA) Chairman Deepak Mohanty said on Saturday that the asset under management (AUM) of the National Pension System (NPS) is likely to surge to Rs 15 lakh crore by the end of current fiscal (FY25).   In his address at the launch of the Association of NPS Intermediaries here, Mohanty said the NPS is expected to grow at a 30 per cent compound annual growth rate (CAGR) in the coming years. The AUM of NPS stood at Rs 13.55 lakh cr...
AUM of NPS to reach Rs 15 lakh crore by end of this fiscal: PFRDA Chairman
AUM of NPS to reach Rs 15 lakh crore by end of this fiscal: PFRDA Chairman
Source: IANS
2024-12-22 09:05:54 am
Association of NPS Intermediaries launched to help Indians plan early for pension With the changing demographics, rapid urbanisation and changes in family structure, early planning for pension by an individual is a necessity, senior government officials and industry leaders said on Saturday.  Nagaraju Maddirala, Secretary, Department of Financial Services (DFS), Ministry of Finance, also urged advocacy by the newly-formed Association of NPS Intermediaries (ANI) that was officially launched in the financial capital. Dr Deepak Mohanty, Chairperson of Pension Fund ...
Association of NPS Intermediaries launched to help Indians plan early for pension
Association of NPS Intermediaries launched to help Indians plan early for pension
Source: IANS
2024-12-22 09:01:59 am
NITI Aayog`s housing initiative for industrial workers to boost manufacturing workforce: ICEA  A secure, affordable, flexible and efficient accommodations for industrial workers is a pivotal initiative by NITI Aayog, aligned with the current and future needs of the domestic manufacturing sector, the India Cellular and Electronics Association (ICEA) said on Saturday.  NITI Aayog has released a comprehensive report on the crucial role of secure, affordable, flexible, and efficient (S.A.F.E.) accommodations for industrial workers in boosting India’s manufacturing secto...
NITI Aayog`s housing initiative for industrial workers to boost manufacturing workforce: ICEA
NITI Aayog`s housing initiative for industrial workers to boost manufacturing workforce: ICEA
Source: IANS
2024-12-22 08:52:03 am
GST meet: Ready-to-eat popcorn to become costly, tax up on used car sales by businesses Ready-to-eat popcorn is set to attract varying GST rates based on its preparation and packaging, it was decided in the 55th GST Council meeting on Saturday.  For popcorn (mixed with salt and spices), it retains the essential character of 'namkeens'. It means a GST of 5 per cent applies if it is supplied loose or unpackaged, while 12 per cent GST will kick in for pre-packaged and labelled popcorn. However, caramel popcorn and similar offerings will attract a higher 18 per ce...
GST meet: Ready-to-eat popcorn to become costly, tax up on used car sales by businesses
GST meet: Ready-to-eat popcorn to become costly, tax up on used car sales by businesses
Source: IANS
2024-12-21 05:19:57 pm
Detailed report on insurance premiums to be presented in next GST Council meet: Samrat Chaudhary The Group of Ministers (GoM) has prepared a detailed report on GST decisions regarding various insurances, and exemption on the premium paid for the policies will be reviewed in the next meeting of the GST Council, Bihar Deputy Chief Minister Samrat Choudhary said on Saturday.   Speaking to IANS after attending the 55th GST Council meeting in Jaisalmer, Choudhary, who also holds the Finance portfolio, said several GoM members suggested that a decision should be taken by holding anothe...
Detailed report on insurance premiums to be presented in next GST Council meet: Samrat Chaudhary
Detailed report on insurance premiums to be presented in next GST Council meet: Samrat Chaudhary
Source: IANS
2024-12-21 05:16:08 pm
55th GST Council defers rate cut decision on health insurance premiums The Goods and Services Tax (GST) Council on Saturday deferred the decision on rate cuts on life and health insurance premiums,  as some more technicalities need to be ironed out.  The GST exemption/reduction on life and health insurance premiums is a long-pending demand of the industry, as the move would alleviate the tax burden on both insurers and policyholders. According to people in the know, the GST Council in its 55th meeting in Jaisalmer, chaired by Union Finance Minist...
55th GST Council defers rate cut decision on health insurance premiums
55th GST Council defers rate cut decision on health insurance premiums
Source: IANS
2024-12-21 05:04:55 pm
Maharashtra will play key role in achieving India`s $5 trillion economy goal: Minister Aditi Tatkare Representing Maharashtra in the pre-Union Budget meeting held in Jaisalmer, Minister Aditi Tatkare on Saturday assured that Maharashtra would play a pivotal role in India’s journey towards becoming a $5 trillion economy.  She emphasised the need for special financial assistance to the state in the upcoming Union Budget. Minister Tatkare presented Maharashtra’s vision, highlighting its strategic role in realising the Prime Minister’s goal of a ‘Viksit Bharat&...
Maharashtra will play key role in achieving India`s $5 trillion economy goal: Minister Aditi Tatkare
Maharashtra will play key role in achieving India`s $5 trillion economy goal: Minister Aditi Tatkare
Source: IANS
2024-12-21 05:01:57 pm
BharatNet connects over 2.14 lakh gram panchayats with broadband: Centre BharatNet, the world’s largest rural broadband connectivity programme, has helped connect more than 2.14 lakh gram panchayats by utilising optical fibre, radio, and satellite technologies, the government said on Saturday.  Launched in October 2011, the ambitious project aimed at providing affordable high-speed internet access to every gram panchayat in the country.  The initiative “seeks to empower rural India, fostering inclusive growth and bridging the gap betwee...
BharatNet connects over 2.14 lakh gram panchayats with broadband: Centre
BharatNet connects over 2.14 lakh gram panchayats with broadband: Centre
Source: IANS
2024-12-21 04:48:53 pm
High prices impinging on India`s growth, central bank minutes show High prices are the cause for demand slowdown in India, and aligning inflation to the central bank's 4% target is key to ensuring sustained economic growth, members of the rate-setting panel said in the minutes of the December meeting. "The policy priority at this critical juncture has to be on restoring the inflation growth balance," Reserve Bank of India Governor Shaktikanta Das said in the minutes of his last monetary policy committee (MPC) meeting released on Friday. L...
High prices impinging on India`s growth, central bank minutes show
High prices impinging on India`s growth, central bank minutes show
Source: Reuters
2024-12-21 10:43:18 am
India`s forex reserves dip to nearly six-month low  India's foreign exchange reserves fell by nearly $2 billion to an almost six-month low of $652.87 billion as of Dec. 13, data from the Reserve Bank of India (RBI) showed on Friday. The reserves had declined by $3.2 billion in the week of Dec. 6, and have declined by $52 billion from the record high of $704.89 billion hit on Sept. 27. Changes in foreign currency assets are caused by the central bank's intervention in the forex market as well as the appreciation or depreciat...
India`s forex reserves dip to nearly six-month low
India`s forex reserves dip to nearly six-month low
Source: Reuters
2024-12-21 10:41:02 am
55th GST Council meet: All eyes on health insurance premiums, ATF, `Sin Tax` As the 55th meeting of the GST Council was set to begin in Jaisalmer on Saturday, chaired by Union Finance Minister Nirmala Sitharaman, the proposed rate cut on health insurance premiums and the inclusion of Aviation Turbine Fuel (ATF) under the GST ambit would be among the key focus areas.  The GST Council is also set to deliberate on revising the rates of nearly 150 items during the meeting which is likely to help the Centre generate additional revenue of nearly Rs 22,000 crore. ...
55th GST Council meet: All eyes on health insurance premiums, ATF, `Sin Tax`
55th GST Council meet: All eyes on health insurance premiums, ATF, `Sin Tax`
Source: IANS
2024-12-21 09:51:44 am
FM Nirmala Sitharaman to attend the 55th GST Council Meeting in Jaisalmer Union Finance Minister Nirmala Sitharaman has arrived in Jaisalmer for the 55th GST Council meeting scheduled to be held on Saturday at Marriott Hotel.  Chief Ministers, Deputy Chief Ministers, and Finance Ministers from various states, along with Finance Secretaries and senior officials, also reached Jaisalmer on Friday. The dignitaries were welcomed at Hotel Marriott amidst tight security arrangements. Jaisalmer Airport witnessed significant activity as leaders from across the co...
FM Nirmala Sitharaman to attend the 55th GST Council Meeting in Jaisalmer
FM Nirmala Sitharaman to attend the 55th GST Council Meeting in Jaisalmer
Source: IANS
2024-12-21 09:40:52 am
Funds devolved to states under 15th Finance Commission higher: FM Nirmala Sitharaman Union Minister for Finance and Corporate Affairs Nirmala Sitharaman on Friday chaired the pre-budget consultations with Finance Ministers of States and Union Territories (with Legislature) at Jaisalmer in Rajasthan.  The participants gave several valuable suggestions to the Union Finance Minister for consideration in the Union Budget for FY 2025-26. Sitharaman remarked that because of the healthy macroeconomic environment, buoyancy and efficiency in the tax collections, the funds d...
Funds devolved to states under 15th Finance Commission higher: FM Nirmala Sitharaman
Funds devolved to states under 15th Finance Commission higher: FM Nirmala Sitharaman
Source: IANS
2024-12-21 09:36:44 am
Deals in farm goods via government's e-NAM platform touch Rs 3.79 lakh crore  The government's National Agriculture Market (e-NAM) scheme wherein online trading of Agriculture and Horticulture commodities is done for transparent price discovery for farmers for their produce through a competitive online bidding system has recorded trades in agricultural produce to the tune of Rs 3.79 lakh crore, the Parliament was informed on Friday.  As on October 31, as many as 1,389 mandis of 23 states and 4 Union Territories (UTs) have been integrated with e-NAM pl...
Deals in farm goods via government's e-NAM platform touch Rs 3.79 lakh crore
Deals in farm goods via government's e-NAM platform touch Rs 3.79 lakh crore
Source: IANS
2024-12-21 09:11:27 am
Mission Livelihood: 10 cr rural women working in 90 lakh self-help groups Over 10.05 crore women from rural households have so far been mobilised into 90.87 lakh self-help groups (SHGs) under the Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM), the Parliament was informed on Friday. Minister of State for Rural Development Dr Chandra Sekhar Pemmasani said in a written reply in Rajya Sabha, that the total bank loans disbursed to SHGs till November 2024 are Rs 9.71 lakh crore. The MoS said that the Mission is being implemented in 7,138...
Mission Livelihood: 10 cr rural women working in 90 lakh self-help groups
Mission Livelihood: 10 cr rural women working in 90 lakh self-help groups
Source: IANS
2024-12-21 08:59:21 am
Urban sector investments in India surge 16-fold: Centre The investments in the urban sector in India have increased 16-fold as the government aims to achieve the 'Viksit Bharat' goal by 2047, the Ministry of Housing and Urban Affairs said on Friday.   Under the Smart Cities Mission (SCM), work orders have been issued in 8,066 projects amounting to Rs 1,64,669 crore, of which 7,352 projects (91 per cent of total projects) amounting to Rs 1,47,366 crore have been completed, as per the data provided by 100 Smart Cities. Under the &...
Urban sector investments in India surge 16-fold: Centre
Urban sector investments in India surge 16-fold: Centre
Source: IANS
2024-12-21 08:41:42 am
World Bank okays $800 million loan for developing Amaravati The World Bank's Board of Executive Directors has approved the $800 million Amaravati Integrated Urban Development Programme, aimed to establish the city as a well-managed, climate-resilient growth centre in Andhra Pradesh that generates jobs and improves the lives of its current and future residents.  "With its urban population expected to double to 950 million by 2050, India aims to build sustainable and liveable cities as growth hubs, and Amaravati offers an exciting oppor...
World Bank okays $800 million loan for developing Amaravati
World Bank okays $800 million loan for developing Amaravati
Source: IANS
2024-12-20 03:06:06 pm
India Post Payments Bank opens 2.68 crore accounts in 2024, 59 pc belong to women  India Post Payments Bank (IPPB) opened 2.68 crore accounts in 2024 (till November), with 1.56 crore or 59 per cent being owned by women and 77 per cent accounts being opened in rural parts of the country, the government said on Friday.  While 1.04 crore customers availed mobile banking services, 69 lakh utilised VDC (virtual debit card) services and around 2,600 crore were disbursed through AePS (Aadhaar Enabled Payment System) in the January-November period. About 3.62 crore...
India Post Payments Bank opens 2.68 crore accounts in 2024, 59 pc belong to women
India Post Payments Bank opens 2.68 crore accounts in 2024, 59 pc belong to women
Source: IANS
2024-12-20 03:00:24 pm
FAIFA releases agricultural roadmap; calls for enhanced digital infrastructure, sustainable farming practices The Federation of All India Farmer Association (FAIFA) has released a comprehensive agricultural roadmap, calling for enhanced digital infrastructure and sustainable farming practices to boost India's agricultural sector through 2040. The white paper, titled ‘Indian Agriculture Outlook 2025’, was unveiled by parliamentarians Magunta Sreenivasulu Reddy and Putta Mahesh Kumar to mark Kisan Divas 2024, highlighting persistent challenges, including low productivity, weather vulner...
FAIFA releases agricultural roadmap; calls for enhanced digital infrastructure, sustainable farming practices
FAIFA releases agricultural roadmap; calls for enhanced digital infrastructure, sustainable farming practices
Source: Accord Fintech
2024-12-20 02:21:43 pm
Footwear and leather industry symbol of India`s craftmanship and innovation: Piyush Goyal Union Minister of Commerce & Industry, Piyush Goyal has said that India’s footwear and leather industry is not only a significant contributor to the economy but also a symbol of skilled craftsmanship and innovation.  Goyal lauded the exporters for their contributions and urged the industry leaders to work together to achieve even greater milestones. He praised the leather industry for adopting high quality standards and for their commitment to make Brand India represent the ...
Footwear and leather industry symbol of India`s craftmanship and innovation: Piyush Goyal
Footwear and leather industry symbol of India`s craftmanship and innovation: Piyush Goyal
Source: Accord Fintech
2024-12-20 02:19:19 pm
PLI scheme achieves Rs 1.46 lakh crore investment, FDI inflows up 26 pc  From achieving Rs 1.46 lakh crore in investment under the product-linked incentive (PLI) scheme to 26 per cent increase in FDI inflows (year-on-year) in Q1 this fiscal (FY25), the Department for Promotion of Industry and Internal Trade (DPIIT) said on Friday that it has played a pivotal role in 2024 in building a self-reliant and globally competitive India.  While PLI scheme saw Rs 12.5 lakh crore in production, Rs 4 lakh crore in exports and generating 9.5 lakh jobs, over 1,300...
PLI scheme achieves Rs 1.46 lakh crore investment, FDI inflows up 26 pc
PLI scheme achieves Rs 1.46 lakh crore investment, FDI inflows up 26 pc
Source: IANS
2024-12-20 02:10:27 pm
Over 4 lakh jobs backlog for SC, ST, OBC filled since 2016: Centre More than four lakh backlog vacancies in government jobs reserved for Scheduled Caste (SC), Scheduled Tribe (ST) and Other Backward Class (OBC) candidates have been filled since 2016, the Parliament was informed.  "Occurrence and filling of vacancies, including the backlog reserved vacancies, is a continuous process," Minister of State for Personnel Jitendra Singh said in a written reply to the Rajya Sabha. Instructions have been issued to all ministries and departments o...
Over 4 lakh jobs backlog for SC, ST, OBC filled since 2016: Centre
Over 4 lakh jobs backlog for SC, ST, OBC filled since 2016: Centre
Source: IANS
2024-12-20 02:00:56 pm
India`s solar equipment manufacturing poised for healthy growth next 2-3 years: CareEdge Ratings CareEdge Ratings in its latest report has said that India’s solar equipment manufacturing capacity is poised for healthy growth over the next 2-3 years, entailing a capex of nearly Rs 1 lakh crore. It stated of that Capex, an estimated debt funding of nearly Rs 70,000 crore is expected over the medium term, including investments in polysilicon and wafer capacities. India’s renewable energy capacity stood at 155 Gigawatt as of September 2024, with the solar segment being the lar...
India`s solar equipment manufacturing poised for healthy growth next 2-3 years: CareEdge Ratings
India`s solar equipment manufacturing poised for healthy growth next 2-3 years: CareEdge Ratings
Source: Accord Fintech
2024-12-20 10:34:08 am
Centre, ADB ink $42 million loan to strengthen coastal protection in Maha The Central government and the Asian Development Bank (ADB) on Thursday signed a $42 million loan to provide coastal and riverbank protection to increase resilience of local communities and natural ecosystems in Maharashtra.  The ADB financing will help restore and stabilise Maharashtra's coastline and protect the livelihoods of coastal communities. “The project builds on ADB’s earlier investment by incorporating hybrid approaches to combat coastal erosion, such as ...
Centre, ADB ink $42 million loan to strengthen coastal protection in Maha
Centre, ADB ink $42 million loan to strengthen coastal protection in Maha
Source: IANS
2024-12-20 09:19:53 am
NITI Aayog rolls out S.A.F.E. housing roadmap for industrial workers to boost growth NITI Aayog on Thursday released a comprehensive report on the crucial role of secure, affordable, flexible, and efficient (S.A.F.E.) accommodations for industrial workers in boosting India’s manufacturing sector.  India is poised to elevate its manufacturing sector’s contribution to GDP from the current 17 per cent to 25 per cent as part of its long-term vision of achieving Viksit Bharat by 2047. This ambitious goal is aligned with the country’s objectives of becomin...
NITI Aayog rolls out S.A.F.E. housing roadmap for industrial workers to boost growth
NITI Aayog rolls out S.A.F.E. housing roadmap for industrial workers to boost growth
Source: IANS
2024-12-20 09:15:25 am
Perspective on FOMC by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services Below the Quote on Perspective on FOMC by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services   * Fed delivers a hawkish cut: The Fed cut its policy rate by 25bps yesterday, as expected, bringing down the Fed Funds rate to 4.25-4.50%. However, this was a hawkish cut, with the statement indicating that the "extent and timing" of further cuts will depend on data. Powell also stated in the post-meeting press conference that the&nb...
Perspective on FOMC by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services
Perspective on FOMC by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services
Source: Emkay Global Financial Services Ltd
2024-12-19 06:13:37 pm
CRISIL revises` EPIGRAL LIMITED outlook to Positive Rating agency CRISIL Rating revised Epigral Limited, India’s leading integrated chemical manufacturer’s, long term outlook to CRISIL AA- with a Positive outlook, from Stable outlook. The Short-term rating of the company has been reaffirmed at CRISIL A1+. This revision in outlook by CRISIL highlights the company’s testament to the company's dedicated efforts to position itself among the world's largest specialty chemical manufacturers.  The company is well k...
CRISIL revises` EPIGRAL LIMITED outlook to Positive
CRISIL revises` EPIGRAL LIMITED outlook to Positive
Source: PR Agency
2024-12-19 05:51:06 pm
India`s milk market stable with low inflation rates in November: Government The overall milk situation in the country is stable with the year-on-year Wholesale Price Index and (WPI) and Consumer Price Index (CPI) inflation rates for milk recorded at low levels of 2.09 and 2.85, respectively, for the month of November 2024, Department of Animal Husbandry & Dairying (DAHD) Secretary Alka Upadhyaya, said at a review meeting here, an official statement said on Thursday.  "There is an adequate commodity stock of skimmed milk powder, whole milk powder, whi...
India`s milk market stable with low inflation rates in November: Government
India`s milk market stable with low inflation rates in November: Government
Source: IANS
2024-12-19 05:28:01 pm
Quote on Fed Rate Cut by Dr Ravi Singh, SVP - Retail Research, Religare Broking Ltd Below the Quote on Fed Rate Cut by Dr Ravi Singh, SVP- Retail Research, Religare Broking Ltd   "In a widely expected move, the Federal Reserve announced a 25-basis point rate cut yesterday, lowering its target range to 4.25%-4.5%, marking the third consecutive reduction aimed at supporting economic growth amid persistent inflation. While the decision was widely expected, the forward guidance surprised markets, as Fed Chair Jerome Powell indicated expectations for two additiona...
Quote on Fed Rate Cut by Dr Ravi Singh, SVP - Retail Research, Religare Broking Ltd
Quote on Fed Rate Cut by Dr Ravi Singh, SVP - Retail Research, Religare Broking Ltd
Source: Religare Broking Ltd
2024-12-19 03:41:28 pm
Net direct tax collection grows 16.45% to over Rs 15.82 lakh crore till December 17 Data released by the Central Board of Direct Taxes (CBDT) has showed net direct tax collection grew 16.45 per cent year-on-year to over Rs 15.82 lakh crore till December 17 this fiscal, buoyed by higher advance tax mop-up. Advance tax collection during the period rose 21 per cent to Rs 7.56 lakh crore. The collection includes corporate tax of over Rs 7.42 lakh crore and non-corporate tax mop-up of Rs 7.97 lakh crore. Securities Transaction Tax (STT) of Rs 40,114 crore was collected between...
Net direct tax collection grows 16.45% to over Rs 15.82 lakh crore till December 17
Net direct tax collection grows 16.45% to over Rs 15.82 lakh crore till December 17
Source: Accord Fintech
2024-12-19 12:40:33 pm
India Strategy : Where Money Flows – Dec`24 By Yes Securities Ltd Market in Transition: From Derivatives to SmallCaps Tight Grip Dampens Index Derivatives Turnover: Following decisive measures to safeguard investor interests and curb speculative trading in Index Derivatives, total F&O turnover has been on a steep decline since November. This drop has been largely driven by a reduction in Weekly Option products, which previously dominated trading activity.   * Cash Market Turnover Faces Headwinds Post July Peak: The downturn in trading volu...
India Strategy : Where Money Flows – Dec`24 By Yes Securities Ltd
India Strategy : Where Money Flows – Dec`24 By Yes Securities Ltd
Source: Yes Securities Ltd
2024-12-19 12:09:02 pm
High interest rates big deterrent for MSME exporters; working with finance ministry on this: DGFT Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi has said that the country's high interest rates are a big deterrent for exporters community and the commerce ministry is working with its finance counterpart to help them at this front. He said that the department of commerce has been struggling to convince the finance ministry regarding the relevance of the Interest Equalisation Scheme (IES) and the extent to which it is maintaining manufacturing competitiveness.   ...
High interest rates big deterrent for MSME exporters; working with finance ministry on this: DGFT
High interest rates big deterrent for MSME exporters; working with finance ministry on this: DGFT
Source: Accord Fintech
2024-12-19 11:37:51 am
India`s tourism and hospitality sector poised for 61 lakh new jobs by 2036-37: CII EY Report A joint report by the Confederation of Indian Industry (CII) and EY has said that the country’s tourism and hospitality sector is projected to require an additional 61.31 lakh workers to cater to an increasing tourism activities by 2036-37. The CII and EY in a whitepaper titled ‘Employment Landscape in Tourism and Hospitality in India’ provides a forward-looking analysis of employment trends in one of India’s most dynamic sectors and highlights its critical role in dri...
India`s tourism and hospitality sector poised for 61 lakh new jobs by 2036-37: CII EY Report
India`s tourism and hospitality sector poised for 61 lakh new jobs by 2036-37: CII EY Report
Source: Accord Fintech
2024-12-19 10:21:41 am
17.80 lakh new employees enrolled under ESIC in October, a 3 pc growth As many as 17.80 lakh new employees were enrolled under the Employees' State Insurance Corporation (ESIC) scheme during October this year, the Ministry of Labour and Employment said on Wednesday.  The year-on-year analysis showed a growth of 3 per cent in net registrations compared to October last year. The data showed that out of the total 17.80 lakh employees added during the month, 8.50 lakh employees amounting to around 47.75 per cent of the total registrations belonged to ...
17.80 lakh new employees enrolled under ESIC in October, a 3 pc growth
17.80 lakh new employees enrolled under ESIC in October, a 3 pc growth
Source: IANS
2024-12-18 04:27:11 pm
India`s growth momentum has picked up after Q2 slowdown: Jeffries The improvement in India's economic growth after the slowdown in the July-September quarter is visible as movement indicators like fuel consumption, vehicles tolled and air traffic have strengthened, Jefferies said in a note on Wednesday.  The Jefferies economy tracker composite indicator shows growth pick-up sustaining in November with the indicator up 6.4 per cent year-on-year, the second fastest growth pace in 13 months. "The festive season created month-on-month volati...
India`s growth momentum has picked up after Q2 slowdown: Jeffries
India`s growth momentum has picked up after Q2 slowdown: Jeffries
Source: IANS
2024-12-18 04:17:20 pm
Centre pays Rs 4,820 crore to 2.75 lakh farmers for pulses under MSP scheme  The Centre, during the 2023-24 rabi season, has procured 6.41 lakh metric tonnes of pulses at an MSP value of Rs 4,820 crore which has benefited 2.75 lakh farmers, according to a statement issued by the Ministry of Agriculture & Farmers Welfare on Wednesday.  The procurement to support the farmers included 2.49 lakh metric tonnes (LMT) of masoor, 43,000 MT of chana, and 3.48 LMT of moong. Similarly, 12.19 LMT of oilseeds of Rs 6,900 crore of MSP value were procured from 5...
Centre pays Rs 4,820 crore to 2.75 lakh farmers for pulses under MSP scheme
Centre pays Rs 4,820 crore to 2.75 lakh farmers for pulses under MSP scheme
Source: IANS
2024-12-18 04:10:19 pm
Over 90 pc HAM road projects in India on steady path: Crisil Road projects under the hybrid annuity model (HAM) in India, awarded by the Ministry of Road Transport and Highways (MoRTH), are on a steady drive, with more than 90 per cent of the project length under development being constructed on schedule, according to a report on Wednesday.   Such timely execution and comfortable debt protection metrics will support the credit risk profiles of these projects, according to a Crisil Ratings analysis. Over the past five fiscal years, excluding ...
Over 90 pc HAM road projects in India on steady path: Crisil
Over 90 pc HAM road projects in India on steady path: Crisil
Source: IANS
2024-12-18 04:01:48 pm
EPFO gives employers final opportunity till Jan 31 to upload wage details for higher pensions  The Employees’ Provident Fund Organisation (EPFO) on Wednesday gave a final opportunity till January 31, 2025 to employers to upload wage details regarding over 3.1 lakh pending applications for Pension on Higher Wages.  Employers have also been requested to submit replies or update the information in 4.66 lakh cases by January 15, 2025 where clarification has been sought by the EPFO. The EPFO said that the final opportunity is being given as, in spite of so many extens...
EPFO gives employers final opportunity till Jan 31 to upload wage details for higher pensions
EPFO gives employers final opportunity till Jan 31 to upload wage details for higher pensions
Source: IANS
2024-12-18 03:56:51 pm
India to become renewable energy capital of World: Pralhad Joshi Highlighting India’s remarkable growth in renewable energy, Union Minister for New and Renewable Energy, Pralhad Joshi has said that India is not only witnessing an energy revolution but also becoming the renewable energy capital of the world. The Minister further said that India is one of the world’s most promising nations in the clean energy space currently under the leadership of Prime Minister Narendra Modi. Joshi further noted that between April and November of the current...
India to become renewable energy capital of World: Pralhad Joshi
India to become renewable energy capital of World: Pralhad Joshi
Source: Accord Fintech
2024-12-18 02:32:55 pm
PLI scheme has attracted Rs 1.46 lakh crore investment, created 9.5 lakh jobs The Centre’s Production Linked Incentive (PLI) scheme has succeeded in attracting an investment of Rs 1.46 lakh crore in the manufacturing sector and has created over 9.5 lakh jobs, Commerce and Industry Minister Piyush Goyal informed the Lok Sabha. As of date, 764 applications have been approved under PLI schemes across 14 sectors, the minister said in a written reply in the Lower House. "As of August 2024, across 14 sectors, investment of Rs 1.46 lakh crore have been realis...
PLI scheme has attracted Rs 1.46 lakh crore investment, created 9.5 lakh jobs
PLI scheme has attracted Rs 1.46 lakh crore investment, created 9.5 lakh jobs
Source: IANS
2024-12-18 02:28:17 pm
Commerce ministry needs to properly monitor EPCG Scheme: CAG audit report Comptroller and Auditor General (CAG) audit report has said that the commerce ministry needs to properly monitor the Export Promotion Capital Goods (EPCG) Scheme, as it not only allows duty-free imports of capital goods but also grants a long gestation period for meeting the export obligation. The scheme allows import of capital goods for pre-production, production, and post-production at nil customs duty but subject to meeting export obligations.  The report also said the import of c...
Commerce ministry needs to properly monitor EPCG Scheme: CAG audit report
Commerce ministry needs to properly monitor EPCG Scheme: CAG audit report
Source: Accord Fintech
2024-12-18 12:17:26 pm