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Finance Minister Nirmala Sitharaman made five significant announcements regarding personal income tax to help the hard-working middle class. Although the new tax system would be the default, taxpayers could choose the previous one instead. In the new tax system, Sitharaman suggested increasing the rebate cap from Rs. 5 lakh to Rs. 7 lakh. Therefore, up […]
The Indian government presented its Union Budget 2023 on Thursday, with Finance Minister Nirmala Sitharaman announcing significant changes to the income tax regime and increased allocations for health, education, and rural projects. The budget aims to reduce the fiscal deficit while supporting an economy affected by the global slowdown. In a move aimed at providing […]
Finance Minister Nirmala Sitharaman tabled the Economic Survey 2022–23 in the Lok Sabha on Tuesday. According to the Economic Survey, the economy has nearly recovered what was lost, restarted what had stalled, and re-energized what had slowed during the pandemic. India is the third-largest economy in the world in PPP (purchasing power parity) terms, the […]
Shares of Adani group companies witnessed mixed trends in early trade on Monday, with flagship Adani Enterprises surging 10 per cent even as most of the group firms fell, a day after it released a 413-page response to allegations of wrongdoing brought by a United States-based short seller, Hindenburg Research. Four of the Adani Group […]
Indian gold hit a fresh all-time high on Tuesday, tracking gains in overseas markets and a depreciation in the rupee currency, but the surge dampened demand in the world’s second biggest consumer of the precious metal, dealers said. Domestic gold futures rose to Rs 57,099 ($699.19) per 10 grams, up nearly 4% so far in […]
Adani Group Chairman Gautam Adani visited the Palanpur Vidyamandir in Gujarat’s Banaskantha district and shared with students the memories of his early days of struggle and the learnings. Addressing the celebrations of 75 years of Vidyamandir Trust on Sunday, Adani said the trading done by his father just through oral commitments, which he claimed never […]
Google and Alphabet CEO Sundar Pichai holds that India can be an example of creating open stacks using technologies such as the UPI and Aadhaar. He was speaking at a “Google For India 2022” event in the capital on Tuesday. “Look at what India has accomplished with the UPI, Aadhaar, and the payments stack, and […]
The board of directors of Mukesh Ambani-led Reliance Industries Limited approved the demerger of its financial services undertaking into Reliance Strategic Investments Limited (RSIL), to be renamed Jio Financial Services Limited (JFSL). RBI-registered non-deposit-taking systemically important NBFC, RSIL is currently a wholly-owned subsidiary of RIL. Jio Financial Services Ltd will be listed separately on the […]
With the opening of it’s first store, the 18,000 square feet house of brands with a curated collection of at 1 MG-Lido Mall, MG Road, Bengaluru. Reliance retail has presented AZORTE to the world. Akhilesh Prasad, CEO, Fashion and Lifestyle – Reliance Retail, said, “AZORTE offers wardrobe must-haves for the fashion-forward customers of new India. […]
As per figures for the last fiscal year ended March 31, the rate at which Indians used to save has fallen to the lowest level in the last five years. The chief reason could be that while on one hand Indians bought heavily after the Covid pandemic and on the other hand inflation has affected […]
The Public Provident Fund is one of the most popular investment schemes of the government of India. At present, with a rate of interest of 7.1% compounded annually, it is one of the safest and most common investment schemes in India. It guarantees assured returns on the amount, provides tax benefits under Section 80C of […]
“Currently Patanjali Group turnover is approximately 40,000 crore. In 5 to 7 years, the Group’s turnover is likely to reach 1 Lakh Crore rupees ” Baba Ramdev informed reporters. Yog-Guru turned Business tycoon- a term he hates-Baba Ramdev- stated on Friday that Patanjali Group’s revenue is projected to increase 2.5-fold to 1 lakh crore over […]
The Indian rupee came to a record low of 80-to-a-dollar mark to hit its fresh entry again after July 19 while bond yields reached 6 basis-points, because of a descent fall in global equities triggered by the strong hawkish stance taken by the Chairman Jerome Powell at the Federal Reserve’s annual Jackson Hole Symposium. The […]
Mukesh Ambani-led telecom giant Reliance Jio reported a standalone net profit of Rs 4,335 crore in the quarter ending June 30, 2022, marginally up from the Rs 4,173 crore profit witnessed in Q4 of last fiscal. The rise registered was up 23.82 per cent y-o-y, with Rs.3,501 crores in Q1FY22. Incidentally, in Q3FY22, the net […]
Finance Minister Nirmala Sitharaman on Tuesday clarified about the decisions taken at the 47th GST council meet. She took to twitter as the opposition protests against the decision of imposition of GST on certain food items stalled the proceedings in the Parliament. Sitharaman clarified that this is not the first time that food items are […]
The rupee on Tuesday breached the 80 per US dollar mark for the first time. The attention of the traders is on the upcoming US Federal Reserve meeting as it is expected that a hike in the interest rate would be announced. After a week that saw the Rupee settle at a new low versus […]
The hike in lending rates and lowering of credit cost is likely to result in banks reporting a significant rise in net interest income (NII) and profits year-on-year (YoY) in the quarter ended June 2022 (Q1FY23), experts believe. In other words, loan growth, higher margins and lower costs will affect the profit of the banks […]
The Indian Institute of Management Ahmedabad conducted the 61st round of business inflation expectations survey (BIES) in order to predict the amount of slack in the economy by asking a panel of business leaders about their inflation expectations in the short and medium-term. Released on July 5, the BIES says “there are early signs of […]
The value of the Indian rupee decreased further in relation to the US dollar, falling to 79.38 on July 5 as worries about a growing current account deficit gained traction. According to official figures released on July 4, the nation’s merchandise trade imbalance increased to $25.6 billion in June 2022, up 62 percent from June […]
The rupee fell to a new record low against the dollar on Wednesday as concerns about a global recession reemerged. This happened just two days after a member of the US Federal Reserve downplayed the chance of a severe and imminent economic downturn in the world’s largest economy. According to market sources, the Reserve Bank […]
