Business
Understanding GST Returns: Who Must File and the Various Types That Keep Your Business Compliant
Introduction The GST tax system in India was implemented by the government of India starting from 1st July 2017. It produced various benefits and had many indirect tax benefits. Most of the indirect taxes that were there, including VAT or Value Added Tax, service tax, and excise duty, were...
India Inc May See 10 Per Cent Rise In Profits
NEW DELHI: India Inc is expected to post a 10% rise year-on-year in aggregate net profits during the September quarter, according to analysts’ estimate. The headline numbers might appear muted due to the steep decline in profits expected for the oil marketing companies (OMC) in Q2. Relatively improved performance...
India Breaks The Mould, Signs Liberal Treaty With UAE
MUMBAI: A revamped India-UAE bilateral investment treaty (BIT), which came into force on August 31, makes conditions for enhanced investment flows from the West Asian kingdom, analysts said. It breaks the template of text of the model treaty by offering protection to portfolio investments, and lets investors seek international...
India’s Backward Districts Receive Only 2.5% Of CSR Funds: Study
NEW DELHI: India’s backward districts received a mere 2.5% of Rs 1.84 lakh crore of corporate social responsibility (CSR) funds spent by companies across the country over the past nine years, said a study, titled ‘State of CSR in India: 2014-2023’, by social impact and consulting firm Sattva Consulting....
Housing Finance Companies Propose Higher Guarantee Cover For Affordable Home Loans
MUMBAI: Housing finance companies (HFCs) have proposed to the government to revamp the Credit Risk Guarantee Fund Trust for Low Income Housing (CRGFTLIH) and increase guarantee cover for home loans up to ₹25 lakh from the current ₹5 lakh, two people aware of the development said. HFCs have sought...
RBI Draft Proposals On Aligning Businesses May Impact Private Banks
MUMBAI: The Reserve Bank of India’s (RBI’s) draft proposals to align businesses of banks and their non-bank subsidiaries is likely to have an impact on major private sector banks, including HDFC Bank, Axis Bank, Kotak Mahindra Bank, and Federal Bank, according to Jeffries analysts. The RBI last week released...
India, Maldives Strengthen Ties; Inaugurate New Runway, RuPay Card
NEW DELHI: The inauguration of a new runaway in the Maldives built under an airport redevelopment project assisted by India and the official launch of the RuPay card in the island nation on Monday are aimed at boosting economic ties and tourism cooperation between the two countries. Prime Minister...
India To Establish 100 Food Testing Labs
NEW DELHI: Union Food Processing Minister Chirag Paswan on Monday said the government will build 100 food testing labs and 50 food irradiation centres as part of its efforts to boost processing levels and ensure quality. The minister asked the industry not to compromise on the quality of products...
India’s Domestic Air Passenger Traffic To Touch 300 Million By 2030: Naidu
NEW DELHI: India’s domestic air passenger traffic is projected to touch 300 million by 2030 and about USD 11 billion is being spent to develop airports, Civil Aviation Minister K Rammohan Naidu said on Monday. The minister also said India and France can work together to develop a robust...
Automobile Sales In India Drop 9 Per Cent Amid Sluggish Demand: FADA
NEW DELHI: Automobile retail sales in India declined 9 per cent year-on-year in September amid a massive buildup of passenger vehicle inventory due to sluggish demand, dealer’s body FADA said on Monday, urging original equipment manufacturers to take corrective steps. The overall registrations declined to 17,23,330 units last month...
Zhejiang International Trade Exhibition Kicks Off In Delhi
NEW DELHI: The 2024 Zhejiang International Trade (India) Exhibition commenced on October 5 at the Pragati Maidan Convention and Exhibition Center in New Delhi. Running until October 7, the event is headlined by the 39th MEDICALL exhibition, widely regarded as the premier medical trade show in India and South...
RBI May Hit Pause Button On Interest Rates Again
MUMBAI: The Reserve Bank of India (RBI) is seen keeping interest rates unchanged this week as the central bank’s Monetary Policy Committee (MPC) is likely to assess the durability of recent declines in inflation while keeping a wary eye on escalating tensions in West Asia, which pose risks to...
Private Sector Capex Likely To Improve Among Rising Biz Confidence: CII
NEW DELHI: Private capital expenditure by India Inc. is likely to increase amid improving domestic demand despite a weak external environment and rising shipping costs, a survey by Confederation of Indian Industry (CII) showed. The survey, conducted with over 200 firms of varying sizes, showed that CII’s Business Confidence...
India Must Liberalise FDI To Be A Developed Nation By 2047: ADB Chief Economist
NEW DELHI: India needs to further liberalise its foreign direct investment (FDI) policy, open up trade and not fear competition to be able to achieve its goal of becoming a developed nation by 2047, Albert Park, chief economist, Asian Development Bank, has said. “I think all the indications are...
IRDAI Seen Nudging Insurance Companies To Go Public
MUMBAI: The Insurance Regulatory and Development Authority of India (Irdai) is nudging insurers to go public. However, unlike the Reserve Bank of India (RBI), which has given banks a timeline to list, the insurance regulator is “using moral suasion during one-on-one meetings” with senior executives of insurance companies which...
IT Companies Appraisal, Hike Cycles Shift From June To September Quarter
BENGALURU: The timing of salary increases within many IT companies has shifted from the traditional April-June period to the third quarter of the year, introducing a level of uncertainty as the process is now influenced by the demand outlook. Salary increases have become more unpredictable in recent years, with...
Amul Set To Enter European Market After US Success
JAMSHEDPUR: Managing Director of AMUL and Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF) Jayen Mehta said AMUL’s recently launched milk in US has been “highly successful” and they are now ready to enter the European market, which would mark a historic moment for the brand. Delivering the 11th Dr...
Hindalco, JSW Steel Bid For Jharkhand Copper Mines
NEW DELHI: Aditya Birla Group firm Hindalco Industries and Sajjan Jindal-led JSW Steel are in the race for two copper mines in Jharkhand which will be put on sale this month, sources said. Both mines have a combined capacity of three million tonne per annum. Hindalco Industries and JSW...
