Finance Minister Nirmala Sitharaman on Tuesday said the securities transaction tax (STT) will be increased on futures and options (F&O) trade from October 1 to discourage retail investors from investing in the risky instrument.
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.
Religion and economic barriers continue to define love in modern India, discovers Preshth Bhardwaj.
From the Sensex pack, Adani Ports & Special Economic Zones, Mahindra & Mahindra, Reliance Industries, HDFC Bank, Larsen & Toubro, NTPC, State Bank of India, UltraTech Cement and Kotak Mahindra Bank were the major gainers. In contrast, Tata Steel, Titan, Bajaj Finserv, JSW Steel, Bajaj Finance, Hindustan Unilever, ITC, Tata Motors and Tata Consultancy Services were among the laggards.
'While criticising India's high tariffs, Mr Trump stated he would impose reciprocal taxes on Indian products if re-elected.' 'However, since India's tariffs follow WTO rules, Mr Trump's actions would violate these rules,' Ajay Srivastava points out.
The Reserve Bank of India (RBI) on Monday directed banks and non-banking financial companies (NBFCs) offering gold loans to thoroughly review their policies, processes, and practices to identify any gaps. The central bank also told them to closely monitoring their gold loan portfolios amid significant growth observed in this segment vis--vis some lenders. Additionally, the RBI, through a circular, instructed these lenders to ensure adequate controls over outsourced activities and third-party service providers.
'Till the time you have the equations right the market will remain concerned.' 'If the (coalition) government is taken care of, then probably (the markets will) come back to its rhythm.'
Ahead of Modi-Putin talks, the US called upon India to make it clear to Russia that any resolution of the Ukraine conflict must respect the United Nations charter and Ukraine's territorial integrity and sovereignty.
Industry body CII on Thursday made a case for pushing reforms in sectors like land, labour, and agriculture by the Modi 3.0 government to accelerate economic growth, which is estimated to be around 8 per cent in the current financial year. CII president Sanjiv Puri said a lot of policy interventions in the past have put the economy on "a much stronger wicket". "The growth rate is poised to touch 8 per cent during the current year, marking the fourth consecutive year of above 7 per cent + growth.
'We can hope to see a lot of creation of jobs in the days to come.'
'Banks may find small ticket size lending economically unviable due to the cost of branch operations.'
The Reserve Bank of India on Wednesday decided to keep the policy rate unchanged for the tenth time in a row but changed its stance to 'neutral' that may lead to a cut in the forthcoming policies. RBI maintained status quo despite the US Federal Reserve lowering the benchmark rates by 50 basis points last month.
'While my generation carries with it the memory of the Chinese perfidy of 1962, this generation will carry the memory of Chinese perfidy in Galwan.'
'The lack of opportunities here remains the biggest worry.' 'We have seen investment summits, but if you look around, much of it is only on paper and not on the ground.'
Today even those who support Prime Minister Modi feel there is a certain sense of listlessness in this government. What is it intending to achieve? This is not easy to say, notes Aakar Patel.
'In the new coalition government, India's reform agenda may prioritise job creation and factor market reforms.'
The avoidable stresses and strains in ties helped in one way. It showed for the entire region how a matured India handled diplomatic relations, especially with a smaller and suspicious neighbour, with practised dignity and patience, unruffled by provocations in word, deed and action, observes N Sathiya Moorthy.
India's three-wheeler exports, which have been on a downhill trajectory over the past few years, are showing no signs of recovery in FY25, with key markets like Sri Lanka, Bangladesh, Nigeria, and Egypt witnessing subdued demand. In May, the country's exports plummeted 11.3 per cent year-on-year (Y-o-Y).
Fell by 95.55 points to 19.484.77 on heavy selling in last 30-minute of trade.
'...We should first look at and acknowledge what we have done to ourselves.' 'To not do so opens us to the accusation of rank hypocrisy and also reduces the stature of our globetrotting peaceniks,' asserts Aakar Patel.
'Subject to any worldwide economic collapse.'
For India to view the new Sri Lankan leadership only through the prism of the past or through their narrow view on China, is fraught with possibilities that should be avoided, asserts N Sathiya Moorthy.
The Biden administration's failure in stopping two major wars and several minor ones was seen as a major disaster by many Americans and the world at large, observes Ambassador T P Sreenivasan.
Shigeru Ishiba is expected to prioritise strengthening Japan's military capabilities and fostering deeper international partnerships, particularly with India, with whom Japan shares significant strategic interests, explains Dr Rajaram Panda.
'I think we just got to make the protocol we set out: that if you're flying from China, you got to be tested, and so on'
India's exports registered a steepest decline in 13-month falling 9.3 per cent in August to $34.71 billion due to global economic uncertainties, while the trade deficit soared to a 10-month of $29.65 billion. According to the government data released on Tuesday, imports increased by 3.3 per cent to $64.36 billion, which is a record high, due to a significant jump in the inbound shipments of gold and silver.
'India represents one of the top opportunities with robust growth, solid fundamentals, and openness to foreign investment.'
The fear of punishment must be struck among the perpetrators, he said. "Those who commit such sins should know that they will be hanged."
The CPI-M leader was fluent in Hindi, Telugu, Tamil, Bangla, and also Malayalam. He was also well-versed in Hindu mythology, and often used those references in his speeches especially to attack the BJP.
Few finance ministers announce any taxation measure that could upset the stock market. Ms Sitharaman decided to take that risk, observes A K Bhattacharya.
Markets regulator Securities and Exchange Board of India (Sebi) is stepping up efforts to ease the onboarding of foreign portfolio investors (FPIs) and has constituted a cell for consultations with offshore investors and custodians, said whole-time member Ananth Narayan. Sebi is also working to make regulations more "light-touch" for FPIs that invest exclusively in government securities or are sovereign funds. The regulator is trying to make the registration process easier for such FPIs, the Sebi official said at the CII Financing 3.0 Summit in Mumbai.
'Any earnings, regardless of location, will be subject to Indian income tax.'
Ukraine and Russia need to engage with each other to find a solution to the ongoing conflict between them, India said on Friday after Prime Minister Narendra Modi held wide-ranging talks with President Volodymyr Zelenskyy in Kyiv under the shadow of the raging war.
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.
Domestic macroeconomic data announcements, global trends and trading activity of foreign investors would guide market sentiments this week, analysts said. After a record rally, markets may face volatile trends this week amid elevated valuations and investors would also keep a track of global oil benchmark Brent crude and rupee-dollar movement for further cues. "Potential volatility in the stock market is anticipated this week. Elevated valuations remain a concern, with investors now focusing on monsoon progress and its impact on the rural economy.
'The Indian government is better prepared this time and has reached out to all contenders and not putting all eggs in one basket.'
'It's advisable not to go overboard on a banking sector fund or any other sector fund.'
With the prediction of an above normal monsoon in 2024, the government is expecting food prices to come down, the finance ministry's monthly economic report for March has said. The report, released on Thursday, said robust foreign inflows and comfortable trade deficits were expected to keep the rupee within a comfortable range. "Further easing of food prices is on the anvil as IMD (India Meteorological Department) has predicted above-normal rainfall during the monsoon season, which is likely to lead to higher production, assuming good spatial and temporal distribution of the rainfall," the monthly report, released by the Department of Economic Affairs, said.
Diamantaire Mehul Choksi, a key accused in the multi-crore PNB scam, has told a special court in Mumbai that he hasn't been able to return to India "due to reasons beyond his control" and hence cannot be declared a "fugitive economic offender". The accused has claimed that he didn't leave India to avoid criminal prosecution nor is he refusing to return to the country. He said his passport has been suspended by Indian authorities.
'Sebi had no problem with derivatives until trading exploded after Covid.' 'But now, having built a dangerous road, from which different entities, mainly governments, are extracting a heavy toll, Sebi is concerned that people are driving on it in much greater numbers,' explains Debashis Basu.
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