Dixon Technologies' January-March quarter (Q4) results came in well below expectations, but the potential for signing up a new mobile client, and plans for backward integration into display manufacturing kept investors happy. Dixon's Q4FY24 revenue grew 52 per cent year-on-year (Y-o-Y) to Rs 4,660 crore, below Street consensus, due to weakness in consumer electronics (Rs 890 crore) and home appliances (Rs 294 crore) segments.
'The expeditious enactment of labour codes and strategic measures to bridge the skills jobs gap are critical.'
Clever wordplay does not change the fact that the government is going pretty easy on some tax offenders, says Arup Roychoudhury.
Dubious and personal expenses of Rs 1,000 crore were made from bank-loan funds for Jet Airways founder Naresh Goyal and his family members even as the airline "diverted" money to some tax havens, the Enforcement Directorate (ED) alleged on Saturday, after arresting the businessman in a money-laundering case. Goyal (74) was taken into custody late on Friday night after the central probe agency took him to its Mumbai office from Delhi. A special court set up to deal with cases lodged under the Prevention of Money Laundering Act (PMLA) on Saturday sent him to the ED's custody for 10 days, till September 11.
GST mop-up likely to fall in May, June after touching record levels in April and March.
Information and Broadcasting Minister Prakash Javadekar said the Bill will be introduced in Parliament during the current Winter Session.
The government had on Wednesday faced major embarrassment in the Rajya Sabha as five amendments moved by the Congress and the CPI-M to the Finance Bill were adopted and approved by the House.
In his absence, the party stares at uncertainty as many of its other senior leaders are either in jail or in political obscurity.
'The revenue projection arises out of all sectors doing well and the formalisation of the economy helps in making sure the tax domain gets widened.'
Since 2008, the Bureau of Energy Efficiency is running a star rating programme, under which electric equipment are rated according to their efficiency. This in turn helps the consumers save electricity.
'If Rakesh Sinha introduces the bill, but it does not pass the Rajya Sabha in six years, then the bill will lapse.'
The Lok Sabha ethics committee has cited the threats India faces from State and non-State cyber actors to indict Trinamool Congress MP Mahua Moitra for sharing her log-in credentials with businessman Darshan Hiranandani, noting that he has residency rights in Dubai and has close relatives who are foreign nationals.
We asked you, dear readers to share your best tips on saving money. Navin K Singh shared these tips.
Finance Minister Nirmala Sitharaman on Monday said she is awaiting an approval from the Cabinet on bill on cryptocurrency as the proposed legislation is before it. The inter-ministerial panel on cryptocurrency under the chairmanship of secretary (economic affairs) to study the issues related to virtual currencies and propose specific actions has already submitted its report. It has recommended that all private cryptocurrencies, except any virtual currencies issued by state, will be prohibited in India.
'Money was pouring in after Movers & Shakers. At the turn of the millennium, I was voted one of the top 10 Mumbaikars. People joked that even when they switched off their TV sets, I was there! I would ask God if he was compensating me for the loss of Ayush, the greatest tragedy of my life.'
Sumit Nagal, who recently became the first Indian to beat a seeded player in a Grand Slam tournament, will spearhead the Indian challenge in the men's singles competition of the Chennai Open ATP Challenger 100 tournament beginning on Sunday.
E-way bill generation, which is related to paying Goods and Services Tax (GST) and a key high-frequency indicator of economic activity, may have fallen to a five-month low in April as more cities experience lockdowns due to a surge in Covid-19 cases. In April e-way bill generation may decline to 55-58 million, which is the lowest since at least November. On the higher side, it is a 17 per cent decline over March.
We asked you, dear readers to share your best tips on saving money. This is what our reader Manish Nandgaonkar, 42, from Pune had to say.
Money saved is money earned, and cutting down your expenses could well be the single-most important step towards an organised financial life. Naval Goel shows you how to keep your finances organised.
After the first draft of the Bill was submitted under a committee chaired by Justice B N Srikrishna in 2018, there were objections raised by businesses, especially on the broad restrictions on cross-border data flow.
Finance Minister Arun Jaitley accused Congress of setting a wrong precedence for future opposition parties by continuously disrupting Parliament.
Another report by Oxfam had found that eight billionaires, including Bill Gates, from around the globe have as much money as the 3.6 billion people who make up the poorest half of the world's population.
Taking a strong view of Google pulling out some apps from its Play Store, the government on Saturday said delisting of Indian apps cannot be permitted and that the tech company and the startups concerned have been called for a meeting next week. In an interview to PTI, IT and Telecom Minister Ashwini Vaishnaw said the startup ecosystem is key to the Indian economy and their fate cannot be left to any big tech to decide. The minister's comments assume significance as Google on Friday began removing some apps, including popular matrimony apps, from its Play Store in India over a dispute on service fee payments, even as apps and well-known startup founders cried foul.
Government will provide a short window of a "few months" to income tax assesses to come clean by declaring their money and assets stashed abroad.
Even existing cases might come under the proposed law, including those of Vijay Mallya, Nirav Modi and Mehul Choski. But, the law would not cover earlier cases.
'He always used to say, 'I have taken up this post to preserve, protect, and defend the Constitution and I will do it during the time I am here'.'
Customers of Vodafone, Idea Cellular, Tata Teleservices and BSNL in some circles have reported maximum discrepancies in their phone bills, according to a latest report by telecom regulator TRAI.
The proposed ban on cash transactions above Rs 3 lakh may hit luxury goods, jewellery sales and real estate.
Mutual funds, bonds, PPFs, equity and real estate are some options which offer varying rates of return.
The Centre is unlikely to offer new direct tax incentives for units operating in special economic zones (SEZs) and may instead allow the grandfathering of previous exemptions that such units were entitled to, according to proposed amendments to the SEZ Act, 2005, people aware of the matter said. The amendments, proposed by the commerce department, will soon be considered by the Cabinet for approval. This represents a departure from the department's earlier plan to introduce these changes through the Development Enterprises and Services Hubs (DESH) Bill, 2023, which faced strong criticism from the ministry of finance.
Enhancing your credit score is the key to improving loan eligibility and securing a favourable interest rate.
When a strong executive decides it wants something, even something that is dangerous and unconstitutional, there is little resistance from within to stop it, notes Aakar Patel.
Passengers in 200 railway stations across India will soon be able to recharge their mobiles, pay electricity bills, fill up Aadhaar and Pan card forms and even file taxes with help from Common Service Centre (CSC) kiosks to be set up by RailTel. The scheme has been operationalised in partnership with CSC e-Governance Services India Limited' (CSC-SPV) and the Ministry of Electronics & Information Technology, RailTel said in a statement. The kiosks will be run by village level entrepreneurs (VLEs).
The high court also directed that engineers involved in shoddy constructions using public money be brought to book.
Reserve Bank Deputy Governor Michael Patra on Wednesday said the central bank's views about cryptocurrencies might have delayed the government's proposed legislation on crypto assets. Emphasising that the Central Bank Digital Currency (CBDC) will be introduced in FY23 as announced by Finance Minister Nirmala Sitharaman in the Budget speech, Patra said India will proceed very gradually on the subject as there are concerns on privacy, its impact on monetary policy formulation and energy intensity. The government had plans to introduce a bill on cryptocurrencies like Bitcoin during the Winter Session of Parliament in November-December 2021 but did not introduce it.
The proposed law seeks bars on storing and processing of personal data by entities without the explicit consent of an individual. It, however, provides for exemptions for "reasonable purposes" such as "prevention and detection of any unlawful activity including fraud, whistle-blowing, merger and acquisitions, network and information security, credit scoring, recovery of debt, processing of publicly available personal data and the operation of search engines".
Offenders will be tried under Prevention of Money Laundering Act
Mobile wallet adoption is surging in India and swiftly becoming a primary payment option, surpassing traditional methods like cash and cards. Over the next few years, payments via mobile wallets in India are likely to surpass the Rs 531.8 trillion mark in 2028, witnessing a compound annual growth rate (CAGR) of 18.3 per cent between 2024 and 2028, according to GlobalData - a London-based leading data and analytics company. The value of mobile wallet payments in India, as per a GlobalData report, grew at a CAGR of 72.1 per cent between 2019 and 2023 to reach Rs 202.8 trillion ($2.5 trillion) in 2023.
K N Balagopal (Communist Party of India -Marxist) said the Congress and the BJP were acting as A-Team and B-Team and not allowing the House to discuss the bills.
Ahead of its Rs 18,000 crore further public offer (FPO), Vodafone Idea on Monday said it expects to roll out 5G services in select pockets within 6-9 months of raising fresh capital. Its chief executive Akshaya Moondra said rollout of the modern 5G telecom services is one of the objectives of raising the capital from the public and once the funding comes, it will start work on the rollout. "With this round of funding, we believe we will be able to (come) back to participate in the industry growth which has not been possible," he said.
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