The spot rupee opened higher at 39.76 to a dollar against a closing of 39.90 yesterday, tracking the global markets and buying interest in equity from foreign investors. The foreign investors were earlier booking profits at higher levels in response to Sebi's decision to ban the issuance of participatory notes.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
With stake sales to begin in some PSUs & banks, Jaitley and team to trot the globe to get more foreign investors.
The lack of change in policy can be hugely damaging not only for foreign investors but also for the Indian economy and domestic industry, says A K Bhattacharya.
The rupee had retreated four paise from its 11-month high levels to close at 58.63 against the dollar on Tuesday on fresh demand for the US currency from importers, amid some profit- booking in stocks.
Sitharaman further said that to mitigate genuine difficulties of start-ups and their investors, government has decided to withdraw angel tax provisions for them.
Previous peak in 2010 crossed in first five-and-a-half months this year.
'The market won't wait for earnings to recover.'
The rupee had weakened by 23 paise to end at 63.51 against the American currency on Wednesday on month-end dollar demand from oil companies and persisting selling by foreign funds in stocks.
It is unpredictability which is bound to have a very negative spin-off which needs to be avoided, said Trade Minister Anand Sharma.
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The Reserve Bank of India late on Wednesday unveiled rules to restrict how much its citizens and companies can invest abroad and announced additional curbs on gold imports.
Foreign investors have so far pumped in a staggering Rs 7,764 crore ($1.3 billion) in the domestic stock market this month, primarily on hopes of a strong reformist government after the general elections.
Developing more sources of supplies to guard against disruptions may emerge as the next big trend. But that may not necessarily mean flow of more investments into India, unless investors are assured, besides important economic factors and impartiality of institutions, that social disharmony will not cause unexpected disruptions.
The Indian rupee slumped to a record low near 69 to the dollar on Wednesday on growing worries that foreign investors will continue to sell out of a country facing stiff economic challenges and volatile global markets.
One of the key concerns of foreign investors is how the general anti-avoidance rule would apply in case an investor is availing benefits under double taxation avoidance agreement.
A panel report would give a policy direction to tax officers on applicability of MAT on FIIs.
'GIFT City is now on a growth trajectory,' says Tapan Ray, MD and group CEO, GIFT City, 'The time has come for the GIFT City to take the big leap and emerge as the next financial hub of Asia.'
'The introduction of a tax on LTCG will be a deterrent for foreign investors and could potentially result in a movement of trading activity away from India to other offshore jurisdictions such as Singapore, which offer better tax rates and sophisticated financial products.'
Some developers point out that what comes in the way of low-cost housing is the sky-high price of land
Shiv Sena has so far expressed concerns over car shed for the city's planned metro network, the bullet train and the West Coast refinery projects.
Investors may increase exposure to mid and small-cap stocks as their risk-reward profile is more attractive currently, suggest Nitin Singh and Vinay Joseph.
India will soon invite foreign businesses to help expand its once-mighty but now outdated railways, government sources said, in a move that would mark the opening up of one of the country's last great state-controlled industries.
The study also pegs India as the country having highest external political risks.
The derivatives (futures and options) are not treated as capital asset and the income arising from the transfer of the derivatives is treated as business income and liable for normal rate of tax for domestic investors, an official statement said on Saturday, clarifying the stand of tax authorities on gains made from derivatives trading.
Earnings spread for foreign investors down to 10-year low of 1.1 per cent, from 2 per cent at the beginning of the year and record high of nearly 5 per cent in 2013
In a major reform push, government on Thursday approved 100 per cent foreign direct investment (FDI) in the telecom sector, meeting a key demand of the fund-starved industry.
In India, Walmart provides service to over 6,00,000 business members and small mom and pop stores.
On Monday, the rupee recovered from four-month low by rising 25 paise in its biggest gain in three weeks to end at 60.93 against the Greenback as shares soared ahead of the RBI's bi-monthly policy meet and exporters offloaded dollars.
Equity inflows worth $3.7 billion came from the sunny Caribbean jurisdiction in 2019-20, a 267 per cent increase from the $1 billion registered in 2018-19 making it India's 10th largest source of FDI.
ITC was the top laggard in the Sensex pack, tanking 6.97 per cent, followed by L&T, HDFC, SBI, ONGC, ICICI Bank and IndusInd Bank.
Investors are keenly focused on new govt's first full-year Budget.
The introduction of GST would constitute India's biggest reform.
When Quikr.com, a Mumbai-based online and mobile classifieds firm, recently raised Rs 550 crore ($90 million) from foreign investors, the company drew attention like never before.
As yields rise, bond prices fall. Higher yields not only translate into losses for investors, it also pushes up borrowing cost for companies as well as government
India gains at the expense of Russia and Brazil
The government has only taken a pause and more measures will be announced in the days to come to help sectors hit by the coronavirus outbreak and also to make India 'Atmanirbhar Bharat', Minister of State for Finance Anurag Thakur said. Since the outbreak of the pandemic, the government has taken several steps to mitigate the hardships of the people due to lockdown and support growth, Thakur told PTI in an interview.
Foreign investors did not lap up the new SBI issue because of deeper worries about public sector banks
The next 12 months will be quite challenging marked by uncertain political events and evolving macroeconomic scenario
The benchmark Sensex has vaulted 2.7 times in five years.
China would contribute $41bn towards the pool. Brazil, India and Russia would contribute $18bn each; South Africa $5bn.
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