'There has been far too much overconfidence about the size and composition of the Indian consumer economy,' notes Mihir S Sharma.
The maker of Pulsar and Discover reported a net profit of Rs 1,138.20 crore in the second quarter, compared to Rs 1,402.42 crore a year ago.
'A bold, progressive step forward,' Kotak Mahindra Bank CEO Uday Kotak said of Nirmala Sitharaman's corporate tax breaks.
On Tuesday, the rupee lost 9 paise to close at 66.67 against the US dollar.
Sitharaman further said that to mitigate genuine difficulties of start-ups and their investors, government has decided to withdraw angel tax provisions for them.
Despite the 3 per cent gain in September 2019, the FPI sell-off during the quarter has seen the benchmark indices - the S&P BSE Sensex and the Nifty 50 register negative returns in Q3CY19.
The minister said any declaration made under the law will be protected
Dabba trades also allow investors to avoid SEBI registration requirements or the margin requirements set by exchanges.
Chief statistician T C A Anant says growth figure might go up once indirect tax data is fully in, however, he agrees that private expenditure is yet to pick up
A combination of externalities such as global trade wars and slowing growth, continuing glitches in accessing offsets under the GST regime, which has created a liquidity crunch for smaller exporters, and the growing competitiveness of smaller countries are causing the slowdown.
Chief Economic Adviser (CEA) K V Subramanian on Tuesday exuded confidence that India would achieve double-digit growth in the current financial year on the back of policy initiatives and continuing reforms. He also said the country is well poised to meet the fiscal deficit target of 6.8 per cent of GDP. "At this stage, I can say confidently that we should be able to achieve that fiscal deficit number. "Any shortfalls that might happen on the disinvestment side will also be accompanied by positive surprises that have happened on tax revenue," he told reporters.
However, in 2020, gold demand in India -- the world's second biggest consumer after China -- could increase to 700-800 tonnes on hopes of increased acceptance of high price level and likely economic reforms boosting consumer confidence, World Gold Council said.
She would be the first Indian to be occupying the coveted post at IMF after former RBI governor Raghuram Rajan
How much are others responsible for the Trump presidency moving in the directions it has, asks T N Ninan.
Spiralling prices pinched the pocket of consumer as edible oil, fuel and many other commodities turned dearer this year amid pandemic-induced disruptions but the inflationary pressure is anticipated to ease, though marginally, in the coming months. As consumers, at retail as well as wholesale levels, are willy-nilly learning to live with the new normal of curbs to contain the spread of coronavirus infections, experts are of the view that elevated inflation is likely to stay longer. After dealing with the devastating blows from the second COVID wave, especially during the April-June period, the economy is well on the revival path but the emergence of Omicron might unsettle the recovery trajectory in the short term.
The government may simplify Fringe Benefit Tax, rationalise tax structure and depreciation norms for research and development in the next Budget, apart from making efforts to raise the Tax-GDP ratio and garner more funds for development.
While 100 per cent FDI is allowed in single-brand retail, if the foreign investment exceeds 51 per cent, the 30 per cent mandatory local sourcing norm kicks in.
SEZs account for just about a third of India's merchandise exports (and roughly the same proportion of services exports). Yet, the notion of creating global manufacturing centres of the kind that propelled China to superpowerdom retains a durable appeal within the Indian policy-making establishment, notes Kanika Datta.
The 50-share NSE Nifty ended flat, up 5.80 points, or 0.06 per cent, at 10,308.95.
Petrol and diesel prices are likely to be hiked this week as oil companies prepare to pare losses accumulated from keeping rates steady for over four months in the run-up to assembly elections in five states, including UP, despite international oil prices jumping to a 13-year high of $140 per barrel. West Texas Intermediate crude futures, the US oil benchmark, rose to $130.50 per barrel on Sunday evening, its highest since July 2008, before retreating. The international benchmark, Brent crude, hit a high of $139.13 at one point overnight, also its highest since July 2008.
The global high comes amidst the uncertainties of Brexit, a trade war and slowing growth, with traders increasing their silver bets.
As Centre cedes power to states in indirect tax, it wants to all ystaffers' worry of little work.
Falling private sector investment and farm distress are problems that call for immediate attention, says T N C Rajagopalan.
Cooking gas LPG prices may be hiked next week after under-recovery on the fuel widened to over Rs 100 per cylinder, sources said insisting that the rate hike, including the quantum of increase, is dependent on government permission. If allowed, this will be the fifth increase in cooking gas rates across all categories - households using subsidised gas for cooking and heating purposes, non-subsidised fuel and industrial-sized gas. LPG rates were last hiked by Rs 15 per cylinder on October 6, taking the total increase in rates since July to Rs 90 per 14.2-kg cylinder.
Finance secretary Ajay Bhushan Pandey on Sunday hinted that the government was working on another stimulus package but he refrained from giving a timeframe.
But use of that word -- privatisation -- is not encouraged. This seems to be a classic case of reforms through subtle signals, observes A K Bhattacharya.
The global ratings agency keeps India's sovereign rating unchanged at 'BBB-' with stable outlook
A swift recovery in oil demand in India is not only helping the stability of the global market, it is giving huge fiscal headroom to the government in terms of additional excise duty.
Chinese alumina refining and metal smelting technologies have emerged as a match for the best anywhere in the world. In fact, Vedanta and Hindalco have bought technologies from China. Our aluminium makers will be haunted by twin fears of rising imports and low metal prices squeezing margins over a long time.
A look at licensed distilleries shows that many have connections with politicians and influential business families. Among politicians, a minister owns a distillery. Two others are owned by ex-Congressman Venod Sharma and ex-Akali MLA Deep Malhotra.
'The impact of COVID-19 on the economy has been so overwhelming that even a significant drop in global oil prices, which in normal times would have brought cheer, has posed new challenges for the government,' observes A K Bhattacharya.
Rajkot-based bullion trader Pankaj Lodhya, who has been named by the Centre in an affidavit filed before the Supreme Court in the black money case, on Monday denied having a foreign bank account and said he was shocked to find his name in the list.
'I urge the government to put aside vendetta politics, and reach out to all sane voices and thinking minds, to steer our economy out of this man-made crisis'
The government believes that WTO's push for initiating negotiations on substantive obligations related to e-commerce will oblige India to permanently accept the current moratorium on imposing customs duties on products traded electronically.
With all the guessing game and uncertainty now over after the allocation of six key portfolios, the market is expecting the new government to deliver strongly on issues that will help the domestic bourses continue on their uptrend.
Overseas bourses may take similar action and stop providing data on foreign indices and commodities traded in India, Ashish Chauhan, chief executive officer, BSE said.
Special Economic Zones are likely to be central to realising Prime Minister Narendra Modi's ambitious Make in India agenda.
Domestic airlines expect the fall in prices of aviation fuel to boost their earnings from the quarter ending December.
Top gainers in the Sensex pack include Yes Bank, TCS, Infosys, IndusInd Bank, HCL Tech, Bharti Airtel, HDFC, Sun Pharma, Bajaj Auto, ICICI Bank, Vedanta, Hero MotoCorp, ITC, Bajaj Finance, M&M and Tata Steel, surging up to 3.24 per cent.
While foreign currency rating was retained at Baa2 -- the second-lowest investment grade score -- Moody's also projected a fiscal deficit of 3.7 per cent of gross domestic product in the year through March 2020, a breach of the government's target of 3.3 per cent.
