The government-backed Open Network for Digital Commerce (ONDC) is likely to start levying user charges in the current financial year.
The gross GST collection increased 8 per cent to Rs 1.74 lakh crore in June, sources said on Monday. The government, however, has discontinued the official release of monthly GST collection data, they added. Sources said the gross Goods and Services Tax (GST) collection so far this fiscal (April-June) stood at Rs 5.57 lakh crore.
'Investors should keep them on their radar and invest over a longer time frame, and expect some of these companies to bite the dust.'
India's services sector activities eased in March as growth was hit by the detrimental impact of the coronavirus pandemic and input costs remained elevated, a monthly survey said on Wednesday. The seasonally-adjusted India Services Business Activity Index fell from 55.3 in February to 54.6 in March. Though the rates of expansion softened, it indicated growth for the sixth consecutive month. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.
'We can hope to see a lot of creation of jobs in the days to come.'
State-run Life Insurance Corporation of India (LIC) has committed Rs 600 crore for its digital transformation journey, Sunder Krishnan, chief risk officer said on Wednesday. The insurance giant is also aiming to become completely "paperless" in two years. "We have hired a large system integrator for more than Rs 400 crore, a consultant for digital transformation for Rs 100 crore, and Rs 100 crore for agency transformation.
The government is planning to introduce legislative changes to the Foreign Exchange Management Act (Fema) regulations, with a focus on easing the pathway for inflows from a foreign portfolio investor to transition seamlessly into foreign direct investments (FDI) once the FPI surpasses the 10 per cent ownership threshold in a company. This move stems from multiple requests by foreign investors seeking to streamline the reporting requirements that arise when their stakes in Indian firms cross the 10 per cent mark.
Indigo has zero competition on 61.2 per cent of its 838 domestic routes.
Prime Minister Narendra Modi on Wednesday said the government has no business to be in business and his administration is committed to privatising all PSUs barring the bare minimum in four strategic sectors. "It is government's duty to support enterprises and businesses. But it is not essential that it should own and run enterprises," he said. Modi also said the Centre's policy is to either monetise or modernise public sector enterprises, with the intent that the government has "no business to be in business".
'AAP is more acceptable to sections of the middle class because it has pragmatically tried to accommodate Hindu sensibilities.'
Thermax reported 13 per cent Y-o-Y revenue growth with operating profit margin decline in Q1FY25. It took a hit of Rs 70 crore on specific projects. The company enjoys a strong order pipeline across sectors like power, steel, refining and petrochemicals.
Serena Williams set Flushing Meadows abuzz on Saturday as the 23-time major winner appeared at the US Open - as a fan
The airport, being developed by the Adani Group, is expected to start commercial operations early next year.
Carlos Alcaraz secured his passage into the fourth round of the Australian Open with a 6-2, 6-4, 6-7(3), 6-3 victory over Nuno Borges.
The net leasing of Grade-A commercial office space in India will stagnate this financial year at 32-34 million square feet, with global uncertainties brewing caution among key tenant categories, according to the latest Crisil Ratings report. Major seven cities in India - Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Pune - had Grade-A office space with an operational stock of around 705 million square feet as of March 2023. India's commercial office space is dominated by technology companies, with information technology (IT) and IT-enabled services (ITeS) companies occupying 42-45 per cent of the operational stock.
'In the new coalition government, India's reform agenda may prioritise job creation and factor market reforms.'
India's services sector activities eased to a three-month low in April, as the rise in business activity was constrained by the pandemic and sentiment towards growth prospects faded, a monthly survey said on Wednesday. The seasonally adjusted India Services Business Activity Index fell to 54 in April from 54.6 in March, the slowest increase in output in three months. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.
'Traders must adopt digital payments as soon as possible within a set timeframe, as the nation is moving rapidly towards digitisation.' 'Ignoring digital systems is not an option for strengthening trade.'
Chief executive officers (CEOs) across sectors have expressed intentions to expand capacities, expecting the government's target to invest a record Rs 11.11 trillion on infrastructure development will act as a catalyst for a jump in consumer demand. "With the government planning a capex of Rs 11.11 trillion, private sector investment will come in a big way. Companies will be preparing for it right from today," H M Bangur, chairman of Shree Cement, told Business Standard. For the past few years, the investment scene in India has been dominated by government capital expenditures; private investments in the manufacturing sector have remained muted.
With Donald Trump all set to become US president, Indian exporters may face high customs duties for goods like automobiles, textiles and pharmaceuticals if the new US administration decides to pursue the 'America First' agenda, opined trade experts. Experts also said that Trump could also tighten H-1B visa rules, impacting costs and growth for Indian IT firms. Over 80 per cent of India's IT export earnings come from the US, making it vulnerable to changes in visa policies.
"We are ready with our money but it's so difficult to get a business visa to India,'' said Dr Abdul Rahman A Al Rabiah, managing director of Alrabiah, a consulting and engineering services company. Quoting instances, Rehman said, "Business leaders who have five-year multi-entry visa into the UK and Europe are merely given a three-month visa for India.''
Finance Minister Nirmala Sitharaman will present the Union Budget on Tuesday as the Monsoon Session of Parliament gets underway next week with the united opposition set to corner the National Democratic Alliance government on issues ranging from the NEET paper leak case and railway safety.
Given the high priority accorded to the manufacturing sector, several policy initiatives around the theme of Atmanirbhar Bharat have been set in motion to address its competitiveness and growth. Some notable examples include the PLI scheme and the employment-linked incentive scheme announced in the recent Union Budget. The Budget also announced the setting up of 12 industrial parks under the National Industrial Corridor Development Programme (NICDP).
Let's explore five transformative yoga asanas designed to fortify your back, neck and shoulders, ensuring you stand tall and strong, just like a tree rooted firmly in the ground.
Vinay Pathak, Divyenndu Sharma and Kusha Kapila are comfortable enough in their comic skins to play their parts with ease, observes Deepa Gahlot.
Global rating agency Fitch on Thursday affirmed India's 'BBB-' rating with a stable outlook on strong growth outlook and fiscal credibility. Fitch said India is set to remain among the fastest-growing sovereigns globally with GDP growth of 7.2 per cent in the current fiscal year and 6.5 per cent in FY26, down from 8.2 per cent in FY24. "Fitch Ratings has affirmed India's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook," the global rating agency said in a statement.
Have a calm conversation with your parents, expressing your feelings for your boyfriend while being open about the current situation between the two of you. Sometimes, parents worry because they don't know the full picture, says rediffGURU Kanchan Rai.
The BJP losing its outright majority and relying on allies to form a government could pose challenges for the more ambitious elements of reform agenda like land and labour, Fitch Ratings said in a note on Wednesday. Prime Minister Narendra Modi-led BJP lost its majority for the first time since 2014, winning 240 seats in the 543-seat Lok Sabha.
India's services sector growth eased slightly in April but growth of new business and output remained sharp and among the fastest in 14 years amid favourable economic conditions and strong demand, a monthly survey said on Monday. The seasonally adjusted HSBC India Services Business Activity Index fell from 61.2 in March to 60.8 in April, highlighting one of the strongest growth rates seen in just under 14 years. Survey members attributed the latest upturn in output to favourable economic conditions, demand strength and rising intakes of new work.
President Mohammed Shahabuddin said he did not have any documentary evidence of Hasina resigning as prime minister before she fled the country on August 5 amidst student-led mass protests.
When you are defending to save a game, a loose delivery comes along and you suddenly opt to play an attacking shot, you are unlikely to hit as well as if you were playing your naturally aggressive game all along. First Pant, then Jaiswal, found that out the costly way, observes Prem Panicker.
"We should not have a repeat of what happened in Mumbai. That there was a terror attack and there was no response," Jaishankar told reporters in Mumbai.
The RBI is fully aware that the high-cost loans and high indebtedness of the borrowers could pose financial stability risks, if not addressed by these NBFCs. Governor Shaktikanta Das has issued a stern warning, saying the RBI is closely monitoring these areas and will not hesitate to take appropriate action, if necessary, if the culprits don't opt for self-correction. Watch out for some action, soon, notes Tamal Bandyopadhyay.
The National Informatics Centre uses AI to automate document analysis and detect fraud in government departments.
Encouraged by a steady recovery seen in the first two weeks of February, hospitality firms expect the business hotels in metros including Mumbai, Bengaluru, Chennai, Kolkata and Hyderabad that have been lagging the leisure hotels in terms of revenue per available room (RevPar) to catch up in the coming months. Huge pent-up demand for MICE (meetings, incentives, conference and exhibitions) as companies slowly return to hosting physical events coupled with easing of the recently announced restrictions on international travel, will also help in getting closer to pre-Covid levels of revenue, they said. The Omicron wave that peaked in January had derailed the strong month-on-month recovery seen by the hotels since August.
During Monday's net session, Bumrah repeatedly made short work of the batter often sending his off-stump cart-wheeling for fun
The proposed reorganisation plan by Reliance Industries Ltd to transfer its refining, marketing and petrochemical (oil-to-chemicals) businesses to a wholly-owned subsidiary is a step towards facilitating participation by strategic investors in the unit, Fitch Ratings said on Tuesday. The reorganisation of the business in Reliance O2C Limited (O2C) "will have a neutral impact on RIL's credit metrics and rating," it said in a statement. The transfer will be on a "slump sale basis", subject to attaining the requisite approvals.
Maruti Suzuki India (MSIL) plans to open new Arena Satellite showrooms as the country's largest carmaker aims to tap small towns and new markets, said a senior company executive, amid signs of recovery in rural demand and an approaching festival season. Senior executive officer for marketing and sales MSIL, Partho Banerjee, told Business Standard the company was aiming to penetrate deeper into markets and reach closer to its customers. "We have already had a concept of mobile showrooms in the Arena channel.
The bank will now be in a position to resume normal lending activity, including corporate lending, with tightened risk management framework.
The Reserve Bank of India (RBI) has identified "climate shocks" as a risk to food inflation rates and overall price rise while stating that the outlook for the country's economic growth remains bright. In its Annual Report for 2023-24, released on Thursday, the central bank said easing supply-chain pressures, broad-based softening in core inflation, and early indications of an above-normal southwest monsoon meant well for the inflation outlook in 2024-25. "The increasing incidence of climate shocks, however, imparts considerable uncertainty to the food inflation and overall inflation outlook," said the RBI while noting headline inflation moderated by 1.3 percentage points on an annual average basis to 5.4 per cent in 2023-24.
