Sounding a note of caution, former Reserve Bank Governor Raghuram Rajan has said that India is "dangerously close" to the Hindu rate of growth in view of subdued private sector investment, high interest rates and slowing global growth. Rajan said that sequential slowdown in the quarterly growth, as revealed by the latest estimate of national income released by the National Statistical Office (NSO) last month, was worrying. Hindu rate of growth is a term describing low Indian economic growth rates from the 1950s to the 1980s, which averaged around 4 per cent.
Ask your bank to save for you. Plan your taxes. Reward yourself for your addictions... Chartered accountant Shreya Jaiswal's 10 ways to make more money this year.
'A delay of two years has happened, but stretching it to 2024 is a bit too far.' 'And we do not know about 2024 also.'
'Very few of small investors stay invested for those three or four or five years.' 'If there's like a six month, one-year period when market is not doing well, you exit.' 'After the market has run up, you get in again.' 'This way you will never make returns.'
Let us get high on Pathaan and his simple-minded antics, sure, but let us also take a moment to think about Jim who, with that one cunning piece of dialogue, goes on to boldly state that patriotism is a many-hued thing, observes Sreehari Nair.
During the debate on the 'Motion of Thanks on the President's Address', Leader of the House Piyush Goyal and Union Finance Minister Nirmala Sitharaman strongly objected to 'insinuations' against the prime minister, who was also present in the House.
India's GDP expanded 13.5 per cent in the April-June quarter, the quickest pace in a year, to retain the world's fastest growing economy tag but rising interest costs and the looming threat of a recession in major world economies could slow the momentum in the coming quarters.
The BJP and the AIADMK are unable to sort out ideological differences, observes N Sathiya Moorthy.
Without naming India, S&P said it expects that in regions where inflation already exceeds targets, or which are vulnerable to capital flight, central banks will be forced to raise interest rates.
The Department of Telecommunications (DOT) on Wednesday received over Rs 17,873 crore from companies towards 5G spectrum dues. Nearly half the amount (Rs 8312.4 crore) was paid by Bharti Airtel, which made advance payments for four years to free up cash for future investments. Reliance Jio and Vodafone Idea paid Rs 7,864 crore and Rs 1,680 crore, respectively.
As much as Rs 26,697 crore was lying in dormant accounts of banks, including cooperative banks, as on December 31, 2020, Finance Minister Nirmala Sitharaman informed the Rajya Sabha on Tuesday. This money is lying in nearly 9 crore accounts which have not been operated for 10 years. As per information received from the Reserve Bank of India (RBI), as on December 31, 2020, the total number of such accounts in Scheduled Commercial Banks (SCBs) was 8,13,34,849 and the amount of deposits in such accounts was Rs 24,356 crore, Sitharaman said in a reply.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
This season, the nature of the advertising game has changed dramatically with TV and digital rights going to different entities.
Delhi's Lieutenant Governor V K Saxena on Monday sent a legal notice to Aam Aadmi Party leaders, accusing them of levelling 'false and derogatory' allegations against him, days after they claimed he was involved in a Rs 1,400-crore 'scam' during his tenure as the Khadi and Village Industries Commission (KVIC) chairman.
The finance minister has stayed true to her commitment to fiscal consolidation, even though the pace of the decline in the deficit could have been faster, notes A K Bhattacharya.
'Punjab elections are there and so are UP elections. They must have done some calculations (before announcing the repeal).'
Keeping the contents of the BBC documentary aside, Rishi Sunak's response needs to be viewed in the backdrop of Britain's historically close relations with Pakistan, argues Lieutenant General Prakash Katoch (retd).
'You can see the essential contours of his new Pakistan strategy. Rather than keep engaging with or humouring them, he'd rather work on taking their four biggest supporters -- the US, China, the UAE and later Saudi Arabia -- away from them.' 'In his calculation,' says Shekhar Gupta, 'with the total support of all four of these, Pakistan will be forced to moderate its policies.'
Crude oil shipments from the US to India rose to the highest levels in November since the conflict began in Ukraine in late February, sparking hopes of a resurgence in oil flows from the US to the subcontinent, reveals shipping data. Shipments from the US have surged as Western nations prepare to impose additional sanctions on Russian crude flows. The US shipped around 450,000 barrels per day of crude last month to India, twice that of shipments in October, according to data from London-based commodity intelligence provider Vortexa.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
BCCI secretary Jay Shah spoke on a range of subjects related to Indian cricket, IPL's place in the global cricket calendar, running the cricket establishment in times of COVID-19 and the road ahead for both Indian cricket and IPL.
'If I close my housing loan, are there any investment avenues (the investment should provide liquidity) to save tax?'
However, the number of renewals has grown by only 0.4 per cent, which means only high value and ticket size renewals are coming.
Adani Group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations in its report, including fraudulent transactions and share price manipulation at the Gautam Adani-led group.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The government will have to make substantial payments, as well as forego revenues in FY'23, if it wants to work on the survival of Vodafone Idea because it will have to extend the same incentives to the entire telecom sector. According to estimates, the industry has to spend around Rs 21,000-Rs 25,000 crore for spectrum which it bought on a deferred payment basis. Vodafone Idea has asked for a moratorium for another year (FY23). If granted, the government will have foregone the instalment payout for a third year in a row as it has already provided a moratorium for two years, giving telcos Rs 42,000 crore worth of relief.
A balance transfer to another lender entails substantial cost and time.
Read the numbers carefully because no one can offer a credit card at zero cost or give a loan at a simple interest of 9%.
Vodafone Idea on Wednesday said its board has approved availing the four-year spectrum payment moratorium being offered by the government as part of its relief package for the telecom sector. The other options offered in the Telecom Department's notification will be considered by the board of directors within the stipulated timeframe, it said in a regulatory filing. "...we wish to inform you that the Board of Directors of the company has approved the exercise of the option of deferment of the company's spectrum auction instalments for a period of 4 years (October 2021 to September 2025) in accordance with ...the notification dated 14 October 2021 issued by the Department of Telecommunications (DoT) to the company," it said.
He will presumably choose to remain true to the framework he has put in place.
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
The CBI inquiry was recommended on Delhi Chief Secretary's report filed earlier this month, showing prima facie violations of GNCTD Act 1991, Transaction of Business Rules (ToBR)-1993, Delhi Excise Act-2009 and Delhi Excise Rules-2010, they said.
Troubled Vodafone Idea Ltd (VIL) has filed a review petition in the Supreme Court after the apex court recently dismissed its plea for rectification of the alleged errors in the calculation of adjusted gross revenues-related dues. In the petition, filed earlier this week, VIL has said it is "a travesty of justice" that the company is restrained from questioning the arithmetical errors/ omission which are going to cost it about Rs 25,000 crore (Rs 5,932 crore of principal plus interest, penalty and interest on penalty). VIL has said its contentions have been rejected by the order under review and added that this denial could result in the company going under and its about 27.3 crore subscribers being left "high and dry".
'The pipeline of new industrial projects is the best I've seen in the last 10 years, and it looks solid enough to sustain for at least a few quarters,' points out Naushad Forbes, adding, 'It is only when we get back to the same labour force participation we saw before Covid that the economy will have truly recovered.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The ruling BJP is confident of bettering its 2017 performance, especially with the new UP party chief, Bhupendra Chaudhary, at the helm of affairs, reports Virendra Singh Rawat.
The finance ministry (FinMin) has asked Infosys to work on ways to extract and access taxpayers' real-time data faster and accurately as it is crucial for taking decisions on policy changes. While reviewing progress of the income tax portal 2.0, which had faced glitches, the officials also told the Infosys team to increase the scope of pre-filled data in the ITR forms. Senior officials in the ministry held a review meeting last month with the Infosys team and officials of the Central Processing Centre (CPC).
Many banks' profits will take a hit and a few of them could even end up being in the red because of treasury losses, triggered by a sudden spike in government bond yields in the rising interest rate cycle, notes Tamal Bandyopadhyay.
Images from the first T20 International between India and West Indies at the Brian Lara stadium in Tarouba, Trinidad on Friday.
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