Jet fuel (ATF) price on Saturday was slashed by 4.5 per cent and that of commercial LPG used in hotels and restaurants by Rs 25.5 per 19-kg cylinder. The price of a 19-kg commercial LPG cylinder was cut to Rs 1,859.50 in the national capital from Rs 1,885, according to a price notification from state-owned fuel retailers. This is the sixth reduction in price of commercial LPG since June, in step with softening international energy prices.
'Indian families' needs and expectations have gone through a revolution across economic demographics.' 'As this latest Modi-Sitharaman Budget demonstrated, politicians have understood this change. They are responding to it,' points out Shekhar Gupta.
Could it have been more reformist? Of course, but this is an election year Budget, observes Akash Prakash.
India will reduce tax on businesses to 25 percent over four years.
Govt may tighten presumptive taxation norms and also do away with some deductions.
The crux of the UK prime ministerial frontrunner Rishi Sunak's message was around honesty as he clashed with his four remaining rivals in the first televised debate of the race to replace Boris Johnson as the Conservative Party leader.
Petroleum Minister Jaipal Reddy said these measures would cost the government Rs 49,000 crore in the current financial year.
The rising goods and services tax (GST) and personal income-tax collections may bolster the Narendra Modi government's ability to announce new schemes or enhance existing ones.
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
The two leaders had a complex relationship yet formed a partnership and even after their parting of ways, the two admired each other in their efforts for India's freedom.
The survey also shows a majority in favour of ousted leader Boris Johnson, with 55 per cent saying that Tory MPs were wrong to effectively force him to resign and 40 per cent saying they were right.
India's largest IT services firm TCS on Thursday reported a 4.99 per cent increase in its September quarter net profit at Rs 11,909 crore. The Tata Group company had reported a net profit of Rs 11,342 crore in the year-ago period, while in the preceding quarter, it had a post tax net of Rs 12,040 crore, a company filing said.
'There are 725,000 Indians here without proper papers. They are subject to deportation immediately under this (Trump's immigration plan). Immediately!' 'They want to prevent new immigration, get the people who are already here out of here, and only allow population increases in the white population.'
India Inc continued to grapple with muted revenue growth in the September 2024 quarter (Q2FY25) and witnessed a decline in margins and profits. The headwinds were especially severe for non-financial companies, while banking, financial services, and insurance (BFSI) firms significantly outpaced the rest of the corporate sector. The total profit of 1,353 listed companies that have released their Q2FY25 results thus far dropped by 0.6 per cent year-on-year (Y-o-Y) - the first cumulative earnings decline in eight quarters.
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
An expected drop in sales may prompt Mahindra & Mahindra to cut scheduled capacity expansion plans, if the government goes ahead with the imposition of additional tax on diesel vehicles, according to the country's biggest maker of sports utility vehicles.
Finance Minister Arun Jaitley is likely to slash corporate tax rate by about one per cent and may put an end date for certain exemptions availed by the industry.
Top management of firms should be summoned for a few specified reasons and after written justification at a senior level.
She said that America spent $46 billion on foreign aid last year, which is given to countries like China, Pakistan, and Iraq.
Senior Congress leader P Chidambaram on Thursday took a swipe at the BJP over the cut in excise duties on petrol and diesel, saying the results of the 30 assembly and three Lok Sabha by-elections have "produced a by-product".
All pre-election opinion polls indicate a strong majority for the Opposition Labour Party, forcing the incumbent Sunak-led Conservatives on the back foot to caution voters against handing a "supermajority" to the Keir Starmer-led Labour.
New government should consider reforming taxation rules.
Management commentary on demand environment, and forward guidance will be in focus when Indian IT services players declare their September quarter results for financial year 2024-25 (Q2FY25). The industry is exepected to have continued on the path of recovery in Q2, similar to the preceding quarter, rather than sprint towards growth. The top four firms likely grew between 0 per cent and 4 per cent year-on-year (Y-o-Y), according to consensus estimates.
Few finance ministers announce any taxation measure that could upset the stock market. Ms Sitharaman decided to take that risk, observes A K Bhattacharya.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
'There are ominous portents of an isolationist administration not only building a physical wall to the south to prevent unwanted immigrants from entering the land of milk and honey, but also trade walls not just against China, but all nations,' foresees Sreekant Sambrani.
'When you need to revive the economy, when you need to revive aggregate demand, you cut taxes.' 'But what's this government doing?' 'It's increasing taxes for the middle class and the vast majority of the poor on fuel, which has a ratchet effect on most other products.'
During the September quarter (Q2FY25), Hindustan Zinc's (HZL's) revenue was reported at Rs 8,300 crore (up 22 per cent year-on-year or Y-o-Y, and 2 per cent quarter-on-quarter or Q-o-Q), marginally above consensus. Operating profit stood at Rs 4,100 crore (up 31 per cent Y-o-Y and 5 per cent Q-o-Q), also a small beat. The operating profit margin was 50 per cent, up from 48.5 per cent in Q1FY25.
The June quarter is usually considered as a seasonally strong period for the IT sector.
The Centre asked state governments on Friday to review and rationalise their taxation policy on jet fuel and land acquisition practices to encourage the expansion of civil aviation sector so that they could themselves reap the benefits of its unprecedented growth.
Making a strong pitch to discourage outsourcing of jobs, United States President Barack Obama on Monday said that America's current tax structure gives incentives for shipping jobs overseas, a trend that needs to be reversed with incentives aimed at creating jobs inside the country.
Cars and two-wheelers attract 28% GST and a cess in the range of 3-22%, taking the effective tax rate to up to 50%.
'At present, hybrids emit lesser carbon despite using fuel than pure play electric cars.' 'That is because EVs have to be charged and 76 per cent of the country's electricity is still coal-based and not renewables.'
The windfall taxes on domestic crude oil production and fuel exports will generate close to $12 billion (Rs 94,800 crore) for the government in the remainder of the current fiscal while trimming profits of firms such as Reliance Industries Ltd and ONGC, Moody's Investors Service said Tuesday. On July 1, the government imposed windfall gain taxes on the export of petrol, diesel and aviation turbine fuel (ATF), and on the domestic production of crude oil. It has also mandated exporters to meet the requirements of the domestic market first.
'We can only hope that the government has finally 'got it' and will stay focused on improving productivity, demand, and governance,' says Debashis Basu.
Jet fuel (ATF) price on Tuesday was hiked by 4.2 per cent but that of commercial LPG used in non-residential establishments such as hotels and restaurants was cut by Rs 115.5 per 19-kg cylinder reflecting global energy trends. Aviation turbine fuel (ATF) price was hiked by Rs 4,842.37 per kilolitre, or 4.19 per cent, to Rs 120,362.64 per kl in the national capital, according to a price notification of state-owned fuel retailers. This reverses a 4.5 per cent cut in jet fuel prices affected last month.
The generation of quality jobs and skill development should be the focal point, cutting across ministries and departments, asserts Nivedita Mookerji.
'Credit card debt comes with high interest cost and stringent penalties.' 'If you do not repay on time, the costs balloon.'
'A mid-year review makes the end-of-year financial review manageable and less stressful.'
