Commerce and Industry Minister Piyush Goyal on Wednesday questioned Amazon's announcement of $1 billion investment in India, saying the US retailer was not doing any great service to the Indian economy but filling up for the losses it had suffered in the country. He said that their huge losses in India "smells of predatory pricing", which is not good for the country as it impacts crores of small retailers.
The Union Cabinet has cleared a proposal to provide Rs 30,600 crore government guarantee for security receipts issued by the National Asset Reconstruction Company (NARCL) as part of resolution of bad loans, Finance Minister Nirmala Sitharaman said on Thursday. The proposed bad bank or NARCL will pay up to 15 per cent of the agreed value for the loans in cash and the remaining 85 per cent would be government-guaranteed security receipts. The government guarantee would be invoked if there is loss against the threshold value.
Continuing to bet big on reforms agenda of the new government, overseas investors have pumped in nearly Rs 32,000 crore (Rs 320 billion) in Indian equities and debt this month.
Describing the summit as 'positive and constructive throughout', the chief minister said a lot companies have committed to invest in money into the state.
rediffGURU Sunil Lala answers your MF-related queries.
The bilateral trade grew by 4.6 per cent from $68.4 billion in 2011 to $ 71.6 billion in 2012.
Commerce Minister Piyush Goyal's scathing remarks on Indian startup ecosystem and its innovation priorities have drawn sharp reaction from the industry, with Zepto CEO Aadit Palicha putting up a strong defence citing the company's contribution to jobs, FDI and terming it a "miracle in Indian innovation".
In times of global challenges, G-20 presidency gives an opportunity to strengthen India's role in the global order, she added. The government is implementing scheme to supply free foodgrains to poor under Pradhan Mantri Garib Kalyan Ann Yojana (PMGKAY) with expenditure of Rs 2 lakh crore from January 1, the finance minister said.
Medsynaptic, a teleradiology company, was born in 2004 when two doctors decided to turn into entrepreneurs with an investment of just Rs 1 lakh (Rs 100,000).
The Confederation of Indian Industry has pegged the requirement for investment at Rs 280 lakh crore ($4.7 trillion) for five years beginning 2014-15 to make the economy grow by seven per cent a year on an average.
Foreign Portfolio Investors' (FPIs) selling spree continues as they pulled out over Rs 3,400 crore from the Indian equity markets in the first three trading sessions of November on rising interest rates and geopolitical tensions in the Middle East. This came after such investors withdrew Rs 24,548 crore in October and Rs 14,767 crore in September, data with the depositories showed. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.
Investor interest in the mutual fund industry as an avenue to generate long term wealth creation is rising with SIP's asset base touching an all-time high of Rs 4.67 lakh crore at May-end. Over the past five years, the systematic investment plan or SIP AUM has grown 30 per cent annually, twice as fast as the growth in the overall mutual fund industry's assets under management (AUM). According to data released by Association of Mutual Funds in India (Amfi) on Wednesday, SIP AUMs have seen a close to four-fold jump to Rs 4,67,366 crore as of May this year from Rs 1,25,394 crore as of August 2016.
The investments were attracted in sectors like finance, manufacturing, real estate and irrigation, the survey said.
If the gift is received from a relative, there is no tax implication. But if the gift is received from a non-relative and exceeds Rs 50,000 in value during a financial year, the entire value of the gift is taxable.
Besides, the quantum of FPI investments via P-notes dropped to 3.5 per cent during the period under review from 3.8 per cent in the preceding month.
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One reason the fee can't be lower than 3 per cent is that it is difficult for an RIA to do a good job and remain viable even at 3 per cent.
The mutual fund industry added Rs 2.2 lakh crore to its asset base in 2022, driven by consistent monthly increase in SIP (Systematic Investment Plan) flows. The Assets Under Management (AUM) of the mutual fund industry rose by 5.7 per cent or Rs 2.2 lakh crore to a total Rs 39.88 lakh crore in 2022, data from the Association of Mutual Fund Industry (Amfi) showed on Tuesday. This was way lower than a surge of nearly 22 per cent or an increase of close to Rs 7 lakh crore in the asset base to Rs 37.72 lakh crore in 2021.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
Facebook picked 9.99 per cent stake in Jio Platforms at an enterprise value of Rs 4.62 lakh crore.
Total assets of the CM and his wife have gone up from 11.56 crore in 2019 to Rs 37.68 crore in 2023-24, a rise of 225 percent, the affidavit showed.
Prime Minister Narendra Modi has lauded the Union Budget as a "people's budget" that fulfills the dreams of every Indian and said that it is a "force-multiplier" that will boost consumption, investment and growth. He highlighted a host of measures for different sectors, including welfare initiatives for gig workers, tax relief for the middle class, and support for the manufacturing sector.
After committing billions of rupees in the overseas market, Tata Group is going on a growth overdrive in the domestic market, earmarking Rs 1.2 lakh crore for investments in the next 7-8 years.
Banks have played a critical role in infrastructure financing.
In the first half of the fiscal year, government had borrowed Rs 3.44 lakh crore.
Shares of most of the Adani group firms ended lower on Monday, a day after it released a 413-page response to allegations of wrongdoing brought by a US-based short seller Hindenburg Research.
Uttar Pradesh Chief Minister Yogi Adityanath highlighted the successful execution of the Maha Kumbh 2025, emphasizing effective crisis management, economic benefits, and the event's role in national unity and infrastructure development. He cited the swift response to a stampede on January 29 and the extensive preparations that ensured a smooth experience for millions of pilgrims.
Finance Minister Nirmala Sitharaman on Wednesday said the government is keeping an eye on inflation which is purely "extraneous" nowadays because of fuel and fertiliser prices. Replying to the debat on the Supplementary Demands for Grants in the Rajya Sabha, the minister said wholesale inflation has fallen to a 21-month low. Later, the Rajya Sabha returned the Supplementary Demands for Grants to the Lok Sabha, thus completing the process of authorising the government to spend an additional Rs 3.25 lakh crore in FY2022-23.
The world's biggest lockdown that shut a majority of the factories and businesses, suspended flights, stopped trains and restricted movement of vehicles and people, may have cost the Indian economy Rs 7-8 lakh crore during the 21-day period, analysts and industry bodies said.
'It's a clear case of political patronage helping an individual grow.'
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
He alleged that besides Modi and Shah, Finance Minister Nirmala Sitharaman had also commented on the stock markets ahead of elections, which has never happened in the past.
Kharge's remarks came after Modi on Friday said the Congress stands "badly exposed" in front of people for promising to them what the party knows it will never be able to deliver.
After eight months of consecutive outflows, equity mutual funds witnessed a net inflow of Rs 9,115 crore in March amid correction in the stock market. Barring multi-cap and value fund categories, all the equity schemes saw inflow last month, data from the Association of Mutual Funds in India (Amfi) showed on Thursday. However, investors pulled out Rs 52,528 crore from debt mutual funds last month, after investing Rs 1,735 crore in February, owing to advance tax payments and other year ending commitments. Overall, the mutual fund industry witnessed a net outflow of Rs 29,745 crore across all segments during the period under review, compared with a net inflow of Rs 4,090 crore in February.
On the second and final day of the Indian Premier League mega auction in Jeddah, Vaibhav, at 13 years and eight months, became the youngest cricketer ever to be picked by a franchise. Rajasthan Royals bought him for Rs 1.10 crore.
Investors became richer by over Rs 6.34 lakh crore on Monday as markets gave a big shout-out to the Budget 2021-22, which analysts termed as 'unprecedented' against the backdrop of the pandemic-induced slowdown. Cheering the Budget proposals, the BSE benchmark Sensex zoomed 2,314.84 points or 5 per cent to close at 48,600.61. During the day, it jumped 2,478.63 points to 48,764.40. This was the best Budget-day gain for the markets since 1997, analysts said. Following the extremely positive market sentiment, the market capitalisation of BSE-listed companies rallied Rs 6,34,069.67 crore to Rs 1,92,46,713.70 crore.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
The Uttar Pradesh government is expecting over 35 crore pilgrims to attend the Maha Kumbh Mela in Prayagraj, a significant increase from the 24 crore who attended the 2019 Kumbh Mela. The event, which will take place over 45 days, will feature extensive security and sanitation measures, as well as a digital component. The state government has allocated Rs 7,000 crore for the event.
Railways is expecting investment through various partnerships.
Maharashtra could become the gateway for the rest of the country.
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