The upcoming Union Budget to be presented on February 1 is likely to assume a nominal gross domestic product (GDP) growth between 10 and 10.5 per cent for FY26, a Business Standard poll of 10 economists showed. The first advance estimates released by the National Statistics Office (NSO) had estimated a nominal GDP growth of 9.7 per cent for FY25. Nominal GDP, calculated at current market prices, factors in the effect of inflation. It is used as the base to calculate crucial macroeconomic indicators, such as fiscal deficit, revenue deficit, and debt-to-GDP ratio.
About 65 per cent of the CFOs are positive about India's growth
'The scrapping of import duty would help Indian companies compete in international markets, thus paving the way for India becoming a space manufacturing hub for the world.'
There have been almost no year-on-year changes in market share within the Big Four.
Additional investment of $190 billion has to be made in the next eight years.
The main issues confronting CFOs currently, according to Deloitte, are the current economic slowdown, a depreciating rupee and inflation.
The impact of the US Federal Reserve's move to cut the benchmark interest rate will be muted for India as it was mostly priced in, Chief Economic Advisor V Anantha Nageswaran said on Thursday. He said that the Indian stock market is already attracting investor interest and overall the rate cut is positive for emerging markets.
Deloitte's hiring plans are in sync with technology firms Accenture and Infosys BPO which are also upbeat about their recruitment program for next year.
'Corporations that were recruiting 15 or 20 [students] have reduced the number to two or three.'
'I am simply highlighting a wrongdoing. This is why my complaint has merit, and the chief minister has ordered an inquiry.'
The Union Budget 2025-26, while promising a new framework for smoother mergers and acquisitions (M&As), has plugged a major loophole on carry-forward losses for a total of eight assessment years between amalgamating company and amalgamated company from the date of loss instead of date of the merger. For all mergers effected on or after April 1, 2025, the losses can be carried forward only for the residuary period (counting from the date of loss).
Teledata Informatics Ltd and Deloitte Touche Tohmatsu (India) Pvt Ltd have signed an agreement to jointly work for the development and implementation of TDIL's Enterprise Resource Planning solution for the education industry.
Following the lacklustre growth numbers in the second quarter (Q2FY25), economists believe the upcoming Union Budget for 2025-26 should focus on reforms that will stimulate consumption, manufacturing and spur employment. India's growth unexpectedly slowed to 5.4 per cent in the second quarter, due to low capital formation, weak consumption, besides adverse weather impact.
Hit by inflation, higher input costs and pricing measures, fast-moving consumer goods companies are expected to see a contraction in their gross margin and a modest-to-flat operating profit in the October-December quarter. Several FMCG makers are likely to log a low single-digit rise in their revenue, returning to the cycle of value-driven growth.
According to the survey of around 2,100 business professionals, 56 per cent of the respondents think more financial statement frauds will be unearthed this year and in 2011 than the last three years combined.
Another trend: A preference for coloured diamonds among brides, who are pairing them with their groom's birthstone. So, along with yellow or white diamonds, they are choosing pink, green, blue sapphires, emeralds or red rubies.
The government has notified October 1 as the starting date for direct tax dispute resolution scheme Vivad Se Vishwas 2.0. Vivad Se Vishwas scheme 2.0 was originally announced in Budget 2024-25 presented in July for resolution of certain income tax disputes pending appeal.
Board, audit panel to meet on September 4.
With the rapid evolution of channels like quick-commerce and the emergence of ONDC, the Indian retail industry is 'cautiously optimistic' for 2025, in which new-age technologies such as AI and automation will play a crucial role, driving efficiency and personalisation.
The US unit of PwC will lay off about 1,800 workers, marking its first formal job cuts since 2009 as the company seeks to restructure its technology group. This comes amid a slowdown in demand for some of its advisory business, according to a Wall Street Journal report. Half of the anticipated layoffs will target offshore positions, impacting a wide range of employees from associates to managing directors.
Leading FMCG firms reported a nearly two-fold increase in the share of quick commerce within their total e-commerce sales, and this surge is anticipated to continue, said a joint report by Deloitte and industry body FICCI. Quick Commerce, also known as hyperlocal delivery, is now reaching around 35 per cent of online sales and has become a preferred channel for urban consumers. "About 18 per cent of consumers prefer purchasing food and beverage items from Q-commerce channels.
Rejecting the contention of the auditors and others that they cannot be treated as part of the management, which is responsible for managing the affairs of the company and therefore should not be charged as per the said section, the NCLAT said that rules of natural justice are to be followed.
Prices of various car models -- ranging from entry-level hatchbacks to high-end luxury offerings -- are set to rise as automakers have announced price hikes with effect from January. Carmakers cite an increase in input costs and operational expenses as the main reason to implement price increases from the next month. Industry experts, however, note that the exercise is also undertaken by automakers every year in December to shore up sales volume in the last month of the year, as customers postpone buyouts to later months to get the new year manufactured units.
The Big Four accounting firms have increased the hiring of people from technology backgrounds in India amid an increased focus of clients on digital transformation, especially after the Covid-19 pandemic. EY India said that it has expanded its overall tech talent pool by 3x in the last three years across service lines including consulting, tax, assurance, and strategy & transactions. "Today over 50 per cent of our workforce is from STEM (science, technology, engineering and mathematics) and technology background," it said, adding that it continues to hire significantly in the areas of AI, cloud computing, data analytics and cybersecurity to help its clients in transformation.
Divya Nair/Rediff.com speaks to students and experts to find out whether it is better to study management in India or try for an international MBA.
Foreign direct investment (FDI) inflows into India have crossed the $1 trillion milestone in the April 2000-September 2024 period, firmly establishing the country's reputation as a safe and key investment destination globally. According to data from the Department for Promotion of Industry and Internal Trade (DPIIT), the cumulative amount of FDI, including equity, reinvested earnings and other capital, stood at $1,033.40 billion during the said period.
A research report by accounting and consulting firm Deloitte has stated that the research & development investment regime in India could be made more robust and attractive by providing more incentives.
Global professional services organisation, Deloitte Touch Thomatsu on Wednesday said it would increase its headcount in India to 12,000 by 2010 from the current 7,500.
The survey was based on the survey of 44 banks.
Gross GST collections in August grew 10 per cent to about Rs 1.75 lakh crore, reflecting higher domestic consumption. As per the government data released on Sunday, gross GST revenues from domestic transactions grew 9.2 per cent to about Rs 1.25 lakh crore. Revenues from import of goods were up 12.1 per cent to Rs 49,976 crore.
Europe's top 20 soccer clubs earned more than four billion euros ($5.46 billion) between them last season, bucking the financial downturn and leaving them well equipped to comply with UEFA's financial fair play rules.
In recent times, more and more audit firms have challenged company managements, some going to the extent of resigning on the ground of incompatibility with what the management wanted or was doing. This, said Ajay Bhushan Pandey, chairman of the National Financial Regulatory Authority (NFRA), in a media interview, was a good sign. Now, the national accounting watchdog has turned the spotlight on audit firms themselves.
Net direct tax collection grew 21 per cent to over Rs 4.62 lakh crore so far this fiscal, on higher advance tax payment by corporates.
38 auditors resigned in 2022-23, compared with 46 the previous year.
GST collections in July rose 10.3 per cent to over Rs 1.82 lakh crore, mainly driven by domestic transactions in goods and services, according to official data released on Thursday. This is the third-highest-ever monthly collection recorded since the indirect tax regime was rolled out 7 years ago on July 1, 2017. According to the data, total refunds stood at Rs 16,283 crore in July.
Out of 24,230 IIT and NIT grads, about 8,000 students didn't find any takers during campus placement drives this year.
About 1.2 trillion tax evasion cases have been detected and as many as 59,000 entities identified for verification in order to ascertain whether they are fake.
