Softening the demonetisation blow, the Budget for 2017-18 on Wednesday halved the tax to 5 per cent on incomes up to Rs 500,000 but proposed a new surcharge of 10 per cent on incomes between Rs 50 lakh and Rs 1 crore and raised duties on cigarettes and pan masala while stepping up allocations for infrastructure, rural, agriculture and social sectors.
The asset monetisation exercise in the first phase will help BSNL shave off its Rs 14,000-crore debt. The government has said that these firms are strategically important and will not be closed down or divested.
Ahead of the start of the ninth season of the IPL, Rajneesh Gupta presents a detailed statistical analysis of the players involved.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Tamil Nadu NGOs received the highest amount of Rs 546 crore as foreign donations.
Overall, Tata Steel becomes the seventh non-financial firm, including four oil PSUs to report quarterly revenues of Rs 50,000 crore.
Got bids for over 7.94 crore shares against an offer of over 6.89 crore.
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"Air India is unable to pay even after a 90-day credit period. They owe us about Rs 300 crore without interest. There is also no bank guarantee from Air India to any of the oil marketing companies. We do not know when will the company honour its dues," said a BPCL official on condition of anonymity.
Air India's outstanding debt stood at a whopping Rs 26,033 crore (Rs 260.33 billion) and its working capital loans were over Rs 21,125 crore (Rs 211.25 billion) as on December 31 last year.
Essar Oil has received another setback after the Supreme Court rejected the company's 125 per cent sales tax deferment benefit claim on its investment in the Vadinar refinery project in Gujarat.
The outgo for major subsides, is the highest in the first quarter.
For some of the business majors, the fund outgo for the 2019 elections has risen as much as 15 to 20 times, compared to the amount given to political parties five years ago.
The Supreme Court on Friday held that an adulterous relationship may become matrimonial by consent and referred to a larger bench the question as to whether a woman in a live-in relationship was entitled to maintenance from her man.
State-run telecom public sector undertaking Bharat Sanchar Nigam Ltd on Thursday announced an investment of a whopping Rs 78,000 crore (Rs 780 billion) in next three years to expand its mobile, basic and broadband operations across the country.
The Aamir Khan-starrer raked in Rs 12.5 crore on Friday and experts estimate the movie to net Rs 40 crore over the first weekend from the box office, with gross collections of Rs 65 crore.
Reliance Jio Infocomm, expected to start commercial operations in the Indian telecom space in the next few months, had a net worth of Rs 5,026.16 crore, the company said in a statement submitted to the Department of Telecommunications (DoT) on Monday.
While the surcharge on super-rich would help garner additional income of around Rs 12,000 crore this fiscal on the direct tax side.
Hindalco Industries won Dumri mine in Jharkhand
As much as Rs 3.64 lakh crore has been collected as advance tax, which is 14.5 per cent higher than the advance tax collections during the same period last year.
Reliance Industries emerges biggest gainer
India's second-largest telecom operator Bharti Airtel on Tuesday posted more than twofold year-on-year jump in its consolidated net profit for the March quarter to Rs 2,008 crore, buoyed by a lift in average revenue per user and an exceptional gain. The telco said its Q4 scorecard was backed by strong performance delivery across the portfolio and its CEO Gopal Vittal, in a statement, exuded optimism about opportunities in the coming years and Airtel being "well-poised" as a company. Airtel, which competes in the market with Reliance Jio and Vodafone Idea, as well as state-owned BSNL/MTNL, promised to maintain razor sharp focus on financial flexibility, optimising the capital structure and finance cost.
The Indian Space Research Organisation is set to rake in a revenue of about Rs 1,250 crore (Rs 12.5 billion) with the launch of INSAT-4B satellite as transponders are fully booked on the back of booming demand for Direct-To-Home services.
State Bank of India and France based Cardif are expected to infuse additional capital of about Rs 50 crore (Rs 500 million) in their life insurance joint venture by 2004-05.
The hectic buying by domestic institutions, as also by some top-shot brokers in their proprietary accounts, was in sharp contrast to heavy selling of stocks by foreign portfolio investors
Telecom regulator TRAI on Monday said mobile operators would be paying only Rs 8,125 crore (Rs 81.25 billion) towards excess spectrum charges, as they would be saving over Rs 6,440 crore (Rs 64.40 billion) on account of lower annual licence fees.
In yet another major outsourcing deal, Sunil Mittal-owned Bharti Group on Tuesday entered into a over Rs 580 crore ($125 million) deal with telecom major Nokia to expand the network in eight circles.
But the provision was made inapplicable to Muslim women after enactment of the said Muslim Women Act by the then Rajiv Gandhi Goverment in 1986.
Notable gainers were Gail, ONGC, Tata Steel and Sun Pharma.
The stock was the worst hit among Sensex and Nifty components.
Japan's Honda Motors on Wednesday unveiled its second bike -- 125-cc 'Shine' -- in the Indian market and said it will invest Rs 400 crore
The Petroleum Trust, one of the promoter entity in RIL, sold 1,50,00,000 equity shares of the company at an average price of about Rs 2,125 per share, Reliance Industries said in a filing to the Bombay Stock Exchange.
Reliance Industries on Friday announced the sale of 2.32 per cent stake in its digital unit to US-based Vista Equity Partners for Rs 11,367 crore, the third deal in a little over two weeks that will inject a combined Rs 60,596.37 crore in the oil-to-telecom conglomerate to help it pare debt. The US-based private equity firm will buy a stake in Jio Platforms, which houses the country's youngest but biggest telecom firm Jio, at an equity value of Rs 4.91 crore and an enterprise value of Rs 5.16 crore.
Bangalore-based TVS Motor Co has filed a Rs 250-crore (Rs 2.5-billion) defamation suit against Bajaj Auto Ltd in the Bombay high court, against the latter's allegation of patent infringement. Earlier, BAL alleged that TVS had copied its patented DTS-i (Digital Twin Spark plug ignition) technology in the 125 cc TVS Flame, slated to be launched in December this year.
There are about 23 oil refineries in India with a combined capacity of 230 million tonnes per annum.
Set up in partnership with Compal Electronics, the facility in Greater Noida will have an initial capacity of 60,000 units a month. This will be ramped up to 2,00,000 by the end of December.
The state has 720 km long coastal line with two major ports, namely Mumbai Port Trust and Jawaharlal Nehru Port Trust.
