The finance minister defended the change in the tax rates.
India was among the top-five economies with the largest general government capital stock level, said, in 2015, an International Monetary Fund report called "Making Public Investment More Efficient". The report fuelled a debate on countries sitting on piles of cash that could be used better. India was believed to have public assets worth $4.5 trillion. The report urged countries to start asset recycling. Six years after the report, Australia's success in asset recycling has turned India into a believer; despite doing averagely in its previous efforts on roads, railways or meeting its divestment targets.
The country's largest carmaker Maruti Suzuki India (MSI) on Tuesday reported 6.14 per cent decline in consolidated net profit at Rs 1,241.1 crore for the fourth quarter ended March 31, 2021. The auto major had posted a net profit of Rs 1,322.3 crore in January-March quarter of 2019-20, MSI said in a regulatory filing. However, revenue from sale of products stood at Rs 22,959.8 crore as compared with Rs 17,187.3 crore earlier, up 33.58 per cent.
The government is planning to merge Bharat Broadband Nigam Limited (BBNL) with the loss-making state-run telecom operator Bharat Sanchar Nigam Limited (BSNL) this month, a senior official has said. BSNL chairman and managing director PK Purwar at a recent event organised by the All India Graduate Engineers and Telecom officers Association (AIGETOA) said that the government is giving the telecom firm an opportunity for a turnaround. "The government has taken a policy decision that BBNL is going to be merged into BSNL. "This means all work of BBNL at the pan-India level is going to come to BSNL," Purwar said at the All India Conference of AIGETOA on March 13.
English cricket could lose as much as 380 million pounds if the entire season is wiped out due to the COVID-19 pandemic, ECB chief executive Tom Harrison has claimed. The ECB has already created a 61 million pound rescue package for the 18 county sides and has been offering grants and loans to recreational clubs, impacted by the outbreak.
Come December, India may have to re-evaluate purchases of Russian oil if a price cap on crude oil proposed by the US and the European Union (EU) comes into effect. That impacts nearly a quarter of India's oil purchases that come at a discount, helping limit marketing losses for India's state refiners and enabling New Delhi to manage inflation by freezing pump prices of motor fuels. In September, India imported 1 million barrels a day or 24 per cent of its overall imports from Russia, which became the biggest supplier of oil to India.
Buoyed by Sooryavanshi's success, the Hindi film industry is banking on 25-30 big movies lined up with a collective cost tag of Rs 2,000 crore.
India's telecom sector has been through dizzying peaks, troughs, policy U-turns, court battles, brutal competition, and daily controversies. India could go back to a private sector duopoly with just Reliance Jio and Bharti Airtel surviving the mayhem. The third player, Vodafone Idea, could be history.
This is the third consecutive month when GST mop-up remained below the Rs 1 lakh crore mark, despite the festival season.
Investor confidence has evaporated amid fears over the rising cost of funding India's gaping current account deficit, prompting New Delhi to delay plans to raise much-needed funds through partial privatisations, finance ministry sources said.
Finance ministry tells PM fiscal deficit target will be met, capex expenditure won't be cut and GDP growth will surpass 7.5%.
'Let us hope that this Budget delivers.' 'It needs 10 per cent plus real GDP growth in 2021-22, the rebound year,' notes Omkar Goswami.
Policies have focused on promoting manufacturing, says minister, for income and job purposes.
'Considering that an Internet company's market value is largely determined by its direct access to consumers for digital services, and largely served outside a sovereign country's control, it would appear reasonable in trade terms to discuss fees for a seat at the proverbial 'table' of opportunities in the largest open consumer market,' argues Venki Nishtala.
No mention of cab aggregators in GST bills
Though there have been no cancellations of contracts by invoking the force majeure clause, a number of clients - especially in the worst-affected sectors like travel and hospitality, oil and gas, as well as manufacturing - have started asking for reducing level of IT support.
A one rupee per litre cut in taxes would result in revenues being hit by Rs 30,000 crore on an annualised basis.
In a short span of time, with the help of Amazon, Cloudtail was able to devise a model that could protect it from the vagaries of online retail business.
After 17 tumultuous years, a nationwide Goods and Services Tax (GST) will rollout from midnight of June 30, overhauling India's convoluted indirect taxation system and unifying the $2 trillion economy with 1.3 billion people into a single market.
GST Bill needs a two-thirds majority in each House.
In the sixth such hike in three months, petrol price has been increased by a steep Rs 2.35 per litre and diesel by 50 paise per litre on falling rupee and firming international oil prices.
Negotiations near deadlock, as states oppose Constitution Amendment Bill.
10 stocks which are most popular with brokerages right now and are expected to deliver maximum upside over the next 12 months.
The provisional restructuring plan has been carried out by lenders, led by State Bank of India, under the Reserve Bank of India's February 12, 2018 circular.
Petrol price on Thursday was cut by Rs 6.07 per litre and diesel price by Rs 11.75 in Delhi as oil companies passed on a record reduction in excise duty rates to consumers. Buckling under pressure, the government had on Wednesday cut excise duty on petrol by Rs 5 per litre and that on diesel by Rs 10 a litre to give reprieve to consumers battered by record high retail fuel prices. Since states charge local sales tax or VAT not just on the base price but also on the excise duty levied by the centre, the total incidence of price reduction is higher.
Monetising online readership, a deeper focus on content and getting revenue from the reader are ways to make the business future-proof, observes Vanita Kohli-Khandekar.
'The US will not want to tangle with China landwards.' 'Nor will the US confront the Chinese navy seawards on India's account.'
As the Tata group inches closer to taking over Air India in January 2022, the $242-billion conglomerate will also inherit a stake in Kerala's Cochin airport. The Tatas would become the only airline to have an operational stake in a major Indian airport. The airport is a strategic hub connecting India to Middle East nations - home to the largest share of Indian migrant workers. In addition to Air India and Air India Express, private carrier Indigo also uses Cochin to ferry the lucrative 'Malayali Gulf traffic' to multiple locations like Jeddah, Riyadh, Sharjah, Dubai, Abu Dhabi, Doha, Kuwait and Bahrain, among others. According to regulatory filings, Air India has a three per cent stake in Cochin International Airport.
The staggered increase in kerosene rate may not have the same impact of freeing up the fuel price as for diesel.
The slowdown had been brewing since 2016 but was intensified further by several disruptions in the past two years including demonetisation.
Democratic Left Front politician Nanayakkara was among the 42 members who declared independence in Parliament from the ruling Sri Lanka Podujana Peramuna (SLPP) coalition.
Chief Minister MK Stalin has shown that he is cut from a different cloth when it comes to embracing what is current, modern and absolutely necessary. Thus, even while retaining the spirit and content of the pan-Tamil, Dravidian socio-political and socio-economic ideology to the 't', his government has also acknowledged the need to accepting scientifically-proven facts in operational matters, says N Sathiya Moorthy.
Projections suggest online food delivery market should grow to $22 billion by 2025.
The finance minister said the economy had been slowing.
A phased roll-out of prohibition will hit revenues of companies, which get 5% of their volume sales from the state
To meet the revised estimates for 2019-20, the central government will have to garner Rs 5.03 trillion in total revenues in March, which has seen the worst phase of the coronavirus pandemic so far and the resultant lockdown.
Benchmark share indices ended lower for the third straight session as investors turned cautious amid tensions in Iraq even as consumer durables shares stole the limelight tracking rally in gold prices.
Only a few thousand chargers dot the Indian landscape, some in working condition, others not, with some held hostage to the power supply vagaries of local utilities, reports S Dinakar.
Petroleum Minister Dharmendra Pradhan's wish to levy indirect tax on petrol unlikely to be taken up
The opposition party also claimed that the Modi 2.0 dispensation has turned out to be an "economic and political disaster" and "constant rollbacks" of economic decisions will lead to worsening of the economic situation.
