The windfall tax on oil produced within India and fuel exported overseas will make up for more than three-fourths of the revenue that the government lost when it cut excise duty on petrol and diesel to cool soaring inflation, industry sources said. India on July 1 joined a select league of nations globally that have taxed windfall gains accruing to oil companies from soaring energy prices. The government slapped a Rs 6 per litre tax on the export of petrol and jet fuel (ATF) and Rs 13 a litre on the export of diesel effective July 1. Additionally, a Rs 23,250 per tonne tax was levied on crude oil produced domestically.
Despite volatile markets and the collapse of the technology bubble, the South Asian community in the United States -- especially Indians -- continues to grow and build wealth, according to a study released by Merrill Lynch on Tuesday.
BSE data suggest 2 demerger proposals a month in the last 2 years.
Per capita income of Indians grew by 14.5 per cent to Rs 46,492 in 2009-10 from Rs 40,605 in the year-ago period, as per the revised data released by the government on Monday.
If it doesn't do that, what Uddhav Thackeray postpones addressing today will be there on the table to confront, for whoever anchors the Sena in the years ahead, observes Shyam G Menon.
Why settle for $400-500 million when you can make a billion or even more? That, in a nutshell, is why Krishna Kumar, 43, and Kashyap Dalal, 40, co-founders of Bengaluru-based edtech firm Simplilearn, one of the big players in the segment, sold a 51 per cent stake to Blackstone instead of selling 100 per cent as close competitor and rival Great Learning chose to do.
The Virat Kohli-Rahul Dravid era began with a convincing Test series win against New Zealand at home and the India skipper on Monday said team is following the same "mindset" and objective under the new support staff.
In spite of a massive jump in the number of the uber rich and rich becoming richer, their contributions to charity continued to decline during the COVID-19 pandemic when a whopping 200 million-plus were forced into poverty, says a report. While CSR (corporate social responsibility) spends have increased from 12 per cent in FY15 (two years into mandatory CSR spends) to 23 per cent in FY21, charity by the uber rich slipped from 18 per cent of the total funding in FY15 to a paltry 11 per cent in FY21, says global consultancy Bain & Company and charity-focused domestic consultancy Dasra in their India Philanthropy Report 2022. The report said that donation from private foreign companies has contracted from around 26 per cent in overall private giving in FY15 to around 15 per cent in FY21.
Leicester City manager Claudio Ranieri will earn a five million pound ($7.33 million) bonus if his team win the Premier League title.
What is the lure of a government job? The answer is India's worst kept secret: Job security. And among the many government jobs desperately sought after is in the armed forces. Which is why the riots by aspiring armed forces job seekers against the government's Agnipath scheme should not really be surprising, points out Harishchandra.
The affiliated units of the Board of Control for Cricket in India might have a reason to rejoice in the coming months as the International Cricket Council's revamp in the revenue distribution structure will mean an additional cash bonanza to the tune of Rs 15 crore for them to develop the game.
Innovation can add an additional USD 50 billion to the revenue pools of Indian IT and ITES industry by 2012, a new study released on Wednesday said.
The total value of Naveen Patnaik's assets has swelled by Rs 4 crore from Rs 7.98 crore to Rs 12.06 crore between 2009 and 2014. This increase is because of appreciation of property value instead of acquisition of any new property.
Sanctions-hit Iran government has earned millions of United States dollars by hosting the 13th Non-Aligned Movement Summit here which was attended by representatives from over 50 countries. According to Iran's own calculations, it would have earned at least $50 million.
Aam Aadmi Party's chief ministerial candidate Bhagwant Mann too questioned separately Gandhi's description of Channi as belonging to 'gareeb ghar', asking 'from which angle, is he poor'.
Investors of the Ambani brothers group companies grew wealthier by a cumulative Rs 18,000 crore (Rs 180 billion) in a single day, driven by the massive spurt in the stocks of RIL and ADA Group companies following their decision to smoke the peace pipe by terminating all the non-compete agreements effected in January 2006.
'And they are going to be milder because we are dealing with the vaccinated and are much richer in terms of the immune response in the population.'
Investor wealth has jumped by over Rs 12.31 lakh crore in three days, taking the market capitalisation of all BSE-listed companies to a record Rs 198.43 lakh crore on Wednesday as equities continued their Budget-driven rally. The BSE benchmark Sensex closed above the historic 50,000 mark for the first time ever on Wednesday. The 30-share benchmark closed with a gain of 458.03 points or 0.92 per cent at 50,255.75. During the day, it zoomed 728.67 points to its lifetime high of 50,526.39. In three trading days, the benchmark has gained 3,969.98 points or 8.57 per cent.
Riding on the company's stellar market debut, Twitter co-founders Evan Williams and Jack Dorsey saw their combined fortunes soar by over one billion dollars in a single day to $3.6 billion.
The Supreme Court-appointed Committee of Administrators (CoA) will demit office after the BCCI AGM here on Wednesday, ending a tumultuous 33-month tenure.
The living will do anything to save their lives. The dead can't defend themselves. Will Sheena Bora's good name survive her murder trial?
Most investors sell in panic, act like a trader, don't understand the difference between price of a stock and its value, are not consistent in their investment strategy and deviate from their asset allocations that leads to wealth destruction, writes Ramalingam K.
Get your lowdown on what's going on in the world of Hollywood, right here!
The total investor wealth on the Bombay Stock Exchange rose by over Rs 1.07 lakh crore on Monday as positive cues from global markets led the rally in today's market, which surged over 2.55 per cent.
'The top 11 billionaires in India added so much to their wealth during the pandemic that it would have sustained MNREGA for 10 years or the ministry of health for 10 years.'
The total investor wealth in domestic stock markets soared by Rs 1.53 lakh crore as investors cheered energy reforms, including hike in natural gas prices.
President Pratibha Patil on Monday made public her movable and immovable properties worth over Rs 2.49 crore on the request of Central Information Commissioner as she completed four years in office. Rediff.com takes a look at the total worth of some other politicians in the country, and tries to find out where our President stands.
Singh said he had worked as prime minister for 10 years and had always preferred that his work should speak for itself.
Zelda Pande recounts the specialness with which Diwali was celebrated in her home in Ranchi.
Titan was the top gainer in the Sensex pack, rising around 4 per cent, followed by HDFC, Nestle India, IndusInd Bank, UltraTech Cement and Bharti Airtel. On the other hand, Bajaj Auto, Tata Steel and NTPC were the laggards.
'Modi looks to be an effective, result-oriented, purposeful leader, focused on bringing greatness and glory to the nation.'
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So it is best for his critics to give up their sniping and supplement his efforts,' asserts B S Raghavan, the distinguished civil servant who served three prime ministers.
An analysis of the assets data from Association of Democratic Reforms shows that the average assets of a winner of the 2014 LS election was more than the average assets of a candidate: more the money you have, more the chances of winning.
Benchmark Sensex soared higher by 623.10 points - the biggest one-day gain since May 18, 2009.
Stock market on Tuesday cheered the Union Budget for the second consecutive day with a record- breaking rally, taking the total addition to investors' wealth to over Rs 2,33,500 crore (Rs 2,335 billion) in just two trading sessions.
Photo-messaging app Snapchat on Wednesday said its monthly user base has reached 100 million in the country, and the company will continue to anchor its efforts towards growing and providing more resources to its community of Indian creators. Snap Inc, the parent company of Snapchat, virtually hosted the second edition of 'Snap in India'. At the event, Snap co-founder and CEO Evan Spiegel announced the milestone of reaching 100 million Snapchatters monthly in India.
The Public Provident Fund and National Savings Certificate are the most popular tax-saving investments. But which one scores better when it comes to saving more tax or getting better returns?
European Central Bank's decision to take up an unlimited bond-buying plan is the reason
Rashtriya Janata Dal chief Lalu Prasad has no immovable assets but Rabri Devi, his wife who is also former Bihar chief minister, has over Rs 1.41 crore in terms of landed property.
Participating in the debate on the budget, leaders of parties like the Congress, Bahujan Samaj Party, Aam Aadmi Party and Left launched an all-out attack on the BJP government for allegedly selling off the country's assets and PSUs to big industrialists.
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