Genset manufacturer Cummins India has seen its share price rise by 45 per cent in the past three months. The management has reaffirmed that growth would be in double digits over the coming two fiscal years. Growth is expected to be driven by a pickup in domestic infrastructure spending.
The net direct tax collection increased by 21.82 per cent to over Rs 9.57 lakh crore till October 9, helped by good inflow from corporates and individuals, the Finance Ministry said on Tuesday. The net collections have reached 52.5 per cent of the full-year budget estimates (BE) of Rs 18.23 lakh crore. The provisional figures of Direct Tax collections up to October 9, 2023, continue to register steady growth, the statement said.
Continuing the upward trend, GST collections rose 10 per cent to about Rs 1.64 lakh crore in December compared to Rs 1.49 lakh crore in the same month a year ago. During the April-December 2023 period, gross Goods and Services Tax (GST) collection witnessed a robust 12 per cent growth, reaching Rs 14.97 lakh crore against Rs 13.40 lakh crore mopped up in the same period of the previous year, the finance ministry said in a statement on Monday. The average monthly gross GST collection of Rs 1.66 lakh crore in the first nine-month period this year represents a 12 per cent increase compared to the Rs 1.49 lakh crore average recorded in the corresponding period of FY23, it added.
The government has set a target of adding 1.3 crore income tax filers in the current financial year against 1.1 crore new filers added last year.
Williamson's 109 from 132 deliveries on another sun-kissed day at Mount Maunganui made him only the fifth New Zealander to score a hundred in each innings of a Test.
As many as 56 firms collectively mopped up Rs 17,283 crores through IPOs during the April-September period of 2016-17.
All eyes will be on whether Sitharaman will deliver a populist budget leaving more money in hands of the common man or push the reform agenda by staying on the fiscal glide path to lower the fiscal deficit to 4.5 per cent of GDP by 2025-26.
As part of the procedure, the law minister writes to the CJI to name his or her successor.
IMAGES from Day 2 of the opening Test between Australia and Pakistan in Perth on Friday.
Life Insurance Corporation has mopped up over Rs 5,200 crore (Rs 52 billion) from Varishtha Pension Bima Yojana, but its market share from other products dipped further to 87.76 per cent till January.
Pradosh then forged an alliance with Shardul Thakur (70 not out) as the duo added another 152 runs to overhaul South Africa A's total and take a 58-run lead.
Reflecting buoyancy in revenue sector, the central government's gross tax collection grew by over 18 per cent to Rs 1,94,231 crore (Rs 1942.31 billion) in the first nine months of this fiscal mainly due to robust growth in direct tax mop-up.
Gujarat Chief Minister Narendra Modi on Tuesday targeted Prime Minister Manmohan Singh over the preparations for the Commonwealth Games, saying even if he mops the floor, the sports facilities will not be ready in time. Observing that the preparations were in a 'mess', Modi also taunted the CWG organisers, telling them that any government body in Ahmedabad would have ensured that all the stadia were ready before the commencement of the mega sporting event on October 3.
Collection will have to rise by 30 per cent in the remaining period of the financial year to achieve the Budget estimate.
GST collections in March grew 13 per cent to the second highest ever at Rs 1.60 lakh crore, taking the growth rate of revenue mop-up for full 2022-23 fiscal to 22 per cent. March also saw over 91 per cent of the GST registered businesses filing returns and paying taxes - reflecting greater compliance and improving economic activity. Gross GST revenue collected in March 2023 is Rs 1,60,122 crore, of which Central GST is Rs 29,546 crore, State GST is Rs 37,314 crore, Integrated GST is Rs 82,907 crore (including Rs 42,503 crore collected on import of goods) and cess is Rs 10,355 crore, the finance ministry said in a statement.
The income tax department has also launched a faceless e-assessment scheme to eliminate interface between an assessing officer and a taxpayer.
The initial numbers for the last installment of advance tax payment on Thursday by top corporates based in the financial capital present a tepid growth in the levy mop-up, with banking and financial institutions leading the pack.
The public issue of 8.4 crore shares, which closed on Friday, was over-subscribed by 9.28 times, sources associated with the process said.
After an extremely stable 2023, the Indian rupee started 2024 on a promising note and has turned out to be the best-performing Asian currency so far in January, appreciating 0.1 per cent despite 2 per cent rise in the dollar index. All other Asian currencies depreciated by around 1.4-4 per cent during the month. The local currency regained its ground against the greenback on the back of foreign portfolio inflows, said market participants.
According to a report by Ernst & Young, 45 PE-backed companies raised $17.2 billion in proceeds, highest quarterly total since the second quarter of 2007.
Life Insurance Corporation, the country's largest insurer, has consolidated its position by recording 178 per cent increase in premium collection during April-September this fiscal
Sunny Deol-starrer Gadar 2 was screened for all Lok Sabha members over three days starting August 25, marking the first time that a movie screening was arranged in the Parliament.
The government also sought approval from Parliament for equity infusion worth Rs 2,345 crore into struggling Air India and another Rs 1,300 crore for Air India Asset Holding.
The government had last fiscal exceeded the direct tax collection target set in the Budget.
New Zealand have reached the final of the last two World Cups and beat India to reach the title-decider in 2019, Ferguson's breakout tournament.
The banking system liquidity bounced back to surplus mode after three weeks, the Reserve Bank of India (RBI) data showed. This was due to government spending, according to dealers. The liquidity situation could further ease with the disbursement of the last tranche of incremental cash reserve ratio (I-CRR) worth Rs 50,000 crore on Saturday.
Wipro was the biggest gainer in the Sensex pack, rising 4.34 per cent, followed by HCL Tech, UltraTech Cement, Tata Steel, Tech Mahindra, NTPC, Infosys, Power Grid, Tata Consultancy Services and State Bank of India. Mahindra & Mahindra, ITC, Axis Bank, Nestle, Kotak Mahindra Bank and Asian Paints were among the laggards.
Bond market participants expect an open market operation (OMO) auction in the first week of November as the banking system liquidity is expected to ease on the back of government spending and maturity of bonds. According to market participants, the Reserve Bank of India (RBI) will issue a notification on OMO sales by October 31. They speculate that the central bank might conduct the auctions in multiple tranches of Rs 10,000 crore.
After overshooting its borrowing target last fiscal, Centre is again on a fund raising spree, mopping up Rs 33,000 crore (Rs 330 billion) from the market in one month, while states plan to raise Rs 7,000 crore (Rs 70 billion) next fortnight.
Having raised Rs 13,000 crore (Rs 130 billion) till May, the Centre now plans to mop up another Rs 10,000 crore (Rs 100 billion) this week as part of its Rs 1,50,818 crore (Rs 1,508.18 billion) market borrowing programme for 2004-05.
Mumbai, which adds 37 per cent to the total direct tax mop-up, has reported tax collection of Rs 4.93 trillion so far, against the full-year target of Rs 5.35 trillion.
Pat Cummins took 10 wickets to lead Australia to Pakistan series triumph
He would have a tenure of two years and is due to retire on November 10, 2024.
Fundraising through the issuance of shares to qualified institutional investors has seen hectic activity in the first half of the current fiscal year (FY24), with 20 companies mobilising over Rs 18,400 crore, more than four-fold from the year-ago period, on positive investors' sentiments. Moreover, the robust trend of Qualified Institutional Placements (QIPs) in the first half of the fiscal year 2023-24 is expected to persist throughout the second half of the year too, Sanjay Moorjani, Research Analyst at SAMCO Securities, told PTI. Prashant Rao, director and head of equity capital markets, Anand Rathi Investment Banking, said that market and investor sentiments play an important role for these issuances.
Last month, Puma roped in Shami as its brand ambassador, joining the likes of Virat Kohli and Usain Bolt on its roster.
'I have trained Ravish Kumar, Virender Sehwag, Harbhajan Singh, Irfan Pathan...' 'But if I approach somebody for work, I never get it.'
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