The Centre managed to collect only Rs 990 crore as compensation cess in April 2020-21, almost one-ninth of the figure of Rs 8,874 crore mopped up a year ago. The subdued collection would further increase states' problems unless the GST Council, which meets next week, decides to borrow from the market.
Byju's has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India.
'If the government was serious about co-opting the corporate sector meaningfully in the fight against COVID-19, it could have specified activities beyond cheque-writing,' notes Kanika Datta.
The phase-wise transition of iD Fresh products into organic items has started and will include flagship offerings such as idli and dosa batter and Malabar parotta.
M&M will close down GenZe, an e-scooter business in California, because it is unlikely it would stand on its own feet, and is ahead of its time.
While other states are becoming competitive, Gujarat, say experts is not paying enough attention to maintaining its own position in terms of business reforms.
Smuggled gold, which is selling sharply lower than the spot market price, is also responsible for discounts not ending. Some consumers are selling high amounts of gold.
'The PSBs ended up recording Rs 7,709 crore losses in the March quarter compared to the Rs 11,688 crore profits of their private peers,' reveals Tamal Bandyopadhyay.
Stating that an economic recession gripped global economy following the lockdowns due to COVID-19 pandemic, Fitch Ratings on Friday said the initial disruptions to regional manufacturing supply chains in China have now broadened to include local discretionary spending and exports.
'There are some encouraging signs.' 'Notice that we have not said 7%-plus, we are keeping it at 6% to 6.5%.'
The panel may include or seek inputs from former RBI Governor Urjit Patel, former chief economic advisor Arvind Subramanian, Sajjid Chinoy of the PM-EAC, Rathin Roy, among others.
Currently most of its 119 planes have been taken back by the lessors and many have been leased to other airlines like SpiceJet. The second challenge is that it has to repay banks.
The Reserve Bank of India, for the second straight time, on Thursday kept its key policy rate unchanged at 5.15 per cent, maintaining its accommodative policy stance as long as it was necessary to revive growth. The central bank retained GDP growth at 5 per cent for 2019-20 and pegged it at 6 per cent for the next fiscal.
An analysis of past 20 years' demand cycles done by Edelweiss Securities indicates that the auto sector is currently in the middle of a down cycle. Volume recovery, they say, is unlikely to be as sharp as in the past, unless there is strong fiscal support.
With exporters' claim for over five months still pending, liquidity has been wiped out and the process of finalising new contracts has been held up.
The simultaneous decline of several trade-related indicators should put policy makers on guard for a sharper slowdown.
'You can put 25 per cent right now; put another 25 per cent when Nifty corrects another 500 points.' 'At 13,500 put another 25 per cent and at 13,000 one can get fully deployed.'
Liquidity issues post the crisis at DHFL, progress of monsoon, rupee trajectory at the domestic level and oil prices are some factors that will keep markets choppy, analysts say.
Reliance announced a rights issue of Rs 53,125 crore, which it said was the biggest in India.
The rating affirmation reflected RIL's strong business profile - a large-scale refinery with a capacity of around 1.2 million barrels a day and dominant market position in petrochemicals.
'The current economic contraction is certainly due to the lockdowns as a response to the pandemic, which is an act of God.' 'Nobody has seen such a thing in the last 100 years.' 'Saying that this was an act of mismanagement is largely incorrect'
A study by second-hand car dealer CARS 24 showed 42 per cent of the consumer feel the need for a car to travel safely now. Those who used cabs to commute before the pandemic want to buy a car for the family and a two-wheeler for shorter runs.
The process of switching off the 3G network has already started with Kolkata in the recent-concluded June quarter. By September, the shutdown will be affected in 6-7 more circles and between December and March the entire 3G network would be shut down.
Prices of two-wheelers, passenger and commercial vehicles are set to rise 15-25%
YES Bank, Bank of Baroda, SBI, IndusInd Bank, and RBL Bank are amongst the banks, Jefferies says, are most prune to "high risk" emanating from ADAG, Cox & Kings, CG Power, DHFL and Essar Shipping.
In the past one week alone, Rajasthan, Madhya Pradesh, Chhattisgarh, and Andhra Pradesh have issued orders to take over private hospitals in some districts. Sohini Das, Vinay Umarji and Gireesh Babu report.
In the past few months, 45 companies have signalled their intent to raise money through the institutional placement route.
Collapse of the mobile operator could translate into total loss of nearly Rs 44,000 crore for the AV Birla group.
Liquidity has improved, but 20 out of 24 NBFC stocks are staring at an over 5% reduction in 12-month target prices.
CBDT feels 30% growth in income-tax not feasible.
With infrastructure claiming a larger share, movement and distribution of cement is bound to change.
The 'mystery' of the education business sale by Cox & Kings is part of an Enforcement Directorate investigation, which is also examining the siphoning-off of funds to the tune of Rs 21,000 crore to dozens of so-called related-parties, highlighted by the forensic auditor.
Going ahead, experts say, the fundraising trend in the primary market will depend on how the secondary market performs against the backdrop of the outcome of general elections and global cues.
Hopes of revival and earnings growth in 2020, surprise tax cuts, and robust foreign flows - thanks to easy global monetary policies - are a few reasons why the markets have managed to digest the low GDP footprint. Select bluechips such as Reliance Industries, Bajaj Finance, Asian Paints, and ICICI Bank have gained sharply this year. On the other hand, YES Bank, Zee Entertainment, and Indiabulls Housing have seen a sharp fall.
Experts say the party is undoing what it achieved through MNREGA by targeting beneficiaries
Private hospitals, especially smaller standalone ones, are staring at a crisis that they were not prepared for. Analysts say larger corporate chains have to brace up for at least six months for business to return to normal.
While the COVID-19 pandemic has completely halted production and new orders, exporters say that payments have also been delayed for the shipments sent before the lockdown. Exporters say some customers are not taking delivery of the shipments because they have shut shop. Ready-made garment players had been hoping for a revival in demand in China but with the virus spreading to Europe, the US and other major markets, there are no orders coming from the major retailers.
Despite a steady collection rate, the government faces a steep Budget target of Rs 6.1 trillion for CGST for 2019-20.
Durable, automobile and real estate players have been lobbying hard for a tax cut, saying it will boost demand.
According to a survey by community platform LocalCircles, early-stage start-ups, funding dependent start-ups and many small businesses will soon be fighting for survival as the spurt in coronavirus cases hits them hard.
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