Investors' wealth tumbled by Rs 9 lakh crore on Friday, in tandem with a sharp decline in the domestic equity market, where the benchmark Sensex plunged 1,414 points following a bearish trend in global equities. Fresh tariff threats that ignited global trade war fears and relentless foreign fund outflows dented investor sentiment, analysts said.
Congress president Mallikarjun Kharge accused the BJP-RSS of carrying out a "well-planned conspiracy" against national heroes and said that Sardar Vallabhbhai Patel's ideology was contrary to the RSS' ideas. He defended the relationship between Sardar Patel and Jawaharlal Nehru, saying they were "two sides of the same coin". He also criticized the BJP-RSS for their alleged attempts to appropriate the legacy of Mahatma Gandhi and Sardar Patel.
Tata Steel is in the process of filing a curative petition in the Supreme Court in connection with the apex court ruling which said that states have the power to levy cess on mining and mineral-use activities. The petition by the steel manufacturing firm is aimed at seeking remedy to the order, passed by a 9-judge Constitution Bench of the Supreme Court on July 25. However, Tata Steel's managing director and chief executive officer T V Narendran told Business Standard that there was no demand note on the firm.
As auto major Mahindra & Mahindra (M&M) became the number two player in the retail passenger vehicle segment for the first time in February, powered by its new launches, the company is setting its sights on technology upgrades.
The "weaponisation" of economic activity - through tariffs and sanctions - is now a reality, with countries leveraging these tools strategically, External Affairs Minister S Jaishankar said at the Raisina Dialogue recently.
American President Donald Trump has announced imposing reciprocal tariffs on its major trading partners including China that levy higher import duties on goods shipped from the United States. He has already announced a 25 per cent duty on steel and aluminium imports, which will come into effect from March 12.
A round-up of Tuesday's action in the Premier League.
Mumbai International Airport (MIAL) has proposed a significant increase in User Development Fee (UDF) for international passengers, while domestic passengers will be charged a UDF for the first time. However, MIAL also proposed a 35% reduction in landing and parking charges, aiming to balance infrastructure development with cost-effective air travel for airlines. The new tariff structure is subject to approval by the Airport Economic Regulatory Authority (AERA).
Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
'For the Indian economy to maintain a growth rate of 7 to 8 per cent, it needs large foreign direct investment coming in, and that's mainly coming from the US.'
IMAGES from the Premier League matches played on Sunday.
Finance Minister Nirmala Sitharaman on Saturday announced the removal of import duties on 12 critical minerals, lithium-ion batteries scrap, cobalt products, LED, zinc and 36 drugs for cancer and rare diseases.
The Delhi government's Anti-Corruption Branch (ACB) has registered a case against former PWD minister and senior AAP leader Satyendar Jain over alleged corruption in a Rs 571-crore CCTV project. According to the ACB, Jain allegedly accepted a bribe of Rs 7 crore to waive the liquidated damages penalty of Rs 16 crore imposed on Bharat Electronics Limited (BEL). The project, which was executed when he was a PWD minister in the previous Arvind Kejriwal government, was related to the installation of 1.4 lakh CCTV cameras across all 70 assembly constituencies.
Unless something changes, Mr Trump is a huge threat right now, which is perhaps not being recognised fully, cautions Debashis Basu.
United manager Ruben Amorim's tough start to life at Old Trafford continues though and the Portuguese has now lost eight of the 14 Premier League matches since he took charge.
Industry associations and companies in the United States, including the US Chamber of Commerce, Coalition of Services Industries and the iconic bike company Harley Davidson have called on the Donald Trump dispensation to push India to reduce tariffs, non-tariffs, and regulatory barriers to boost American exports.
Foreign companies now pay less tax relative to their earnings than at any time in more than three decades. Foreign private companies paid 24.36 per cent of their pre-tax profit as tax in 2023-24, show numbers from the Centre for Monitoring Indian Economy (CMIE).
A deflected late strike from Lisandro Martinez earned Manchester United a much-needed 1-0 victory at Fulham in the Premier League on Sunday.
Putin is keen on establishing a good personal rapport with Trump and anchor a meaningful US-Russia partnership, realistic enough to accept that Trump is as good an American president as Russia would ever get, observes Ambassador M K Bhadrakumar.
Chelsea recovered to beat West Ham United 2-1 to jump to fourth place in the English Premier League on Monday.
In view of the continued requests of the pilgrims regarding the removal of $20 service charge levied by Pakistan per pilgrim per visit, India has once again urged Pakistan to not levy any fee or charges on the pilgrims, the Ministry of External Affairs (MEA) said in a statement.
Chelsea won for the first time in six Premier League matches when they beat relegation-threatened Wolverhampton Wanderers 3-1 at home on Monday.
State-owned Oil and Natural Gas Corporation (ONGC) expects a USD 10.3 billion revenue boost from increased oil and gas production, achieved through a partnership with UK's BP in the Mumbai High field.
The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance premiums, while hiking it on high-end wrist watches, shoes and apparels, besides considering a separate 35 per cent tax slab for sin goods. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, is likely to discuss rate rejig in about 148 items, besides, it will also deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry's operation cost, in the Goods and Services Tax (GST) fold.
The Centre on Sunday said there are no plans to levy charges for making payments through Unified Payments Interface (UPI) while saying the service is a "digital public good with immense convenience". The ministry of finance said the concerns of service providers for cost recovery have to be met through other means. "UPI is a digital public good with immense convenience for the public & productivity gains for the economy.
Leading brokerages have revised their charges with the true-to-label norms by the Securities and Exchange Board of India (Sebi) kicking in from Tuesday.
Trump on February 1 had announced tariffs on major US trading partners Canada, Mexico and China. He imposed a 25 per cent tariff on Canadian and Mexican imports and a 10 per cent on goods from China.
Risks emerging from the US have left automotive investors worried. US President Donald Trump has announced 25 per cent tariffs on automotive imports, while global electric carmaker Tesla has taken its first steps towards entering India. While these developments are sentimentally negative for related stocks, it may be too early to conclude the eventual impact, analysts said.
'Buyers should be provided either a fixed possession date or a firm date for the start of construction.'
The government, in the forthcoming Budget, could consider levying higher tariffs on imports to check the significant decline in rupee value witnessed in the past few months, said EY Chief Policy Advisor DK Srivastava. The noted economist argued that higher import duties would curb the demand for dollars from importers and help arrest the sliding value of the rupee, which touched a historic low of 86.70 to a dollar on January 13.
Tax experts answer your budget-related queries
Trump has made it clear to Prime Minister Modi that India will not be spared from Washington's reciprocal tariffs and emphasised that "nobody can argue with me" on tariff structure.
The systematic withdrawal plan stands out as a superior option, providing steady income despite market fluctuations and inflation, says Ramalingam Kalirajan.
Finance Minister Nirmala Sitharaman on Saturday unveiled 'transformative' tax reforms that ranged from a simpler income tax law to higher TCS threshold for remittances and income tax benefits for middle class.
'The US has agreed to negotiate with us a mutually beneficial bilateral trade agreement, which will go for reduction of tariffs on both sides so that our trade can grow.'
rediffGURU Yogendra Arora answers readers' personal income tax queries.
The Supreme Court on Wednesday rejected the Centre's plea for prospective effect of its July 25 verdict, which upheld the power of states to levy tax on mineral rights and mineral-bearing land, and allowed them to seek refund of royalty from April 1, 2005 onwards.
Both life insurance and medical insurance premiums are subject to an 18 per cent GST rate.
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