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NEW DELHI: India Inc will be liable to goods and services tax, applicable from October 2023, on intra-group corporate guarantees that will be 1% per annum of the value of the loan guaranteed, according to a notification that brings into effect the provision approved by the GST Council. There...
NEW DELHI: India’s public procurement portal Government e Marketplace (GeM) may also become a vehicle for the government to invite bids for work contracts. A proposal in this regard will be submitted to the commerce ministry following stakeholder consultations, chief executive officer of GeM P K Singh said on...
NEW DELHI: Oil Minister Hardeep Singh Puri on Thursday called for stepping up oil and gas hunt to cut India’s reliance on imports and making available fuel at an affordable and sustainable way. Speaking at the Urja Varta conference, he said the exploration and production (E&P) sector is integral...
India’s thriving property market achieved a major milestone, surpassing China in the tally of homegrown realty companies valued at $1 billion. The South Asian nation is home to 36 such realty companies, climbing from just 7 six years ago, showed latest data compiled by Hurun Research Institute. The list...
NEW DELHI: An underwater-launched drone for surveillance, a UAV for neutralising underwater threat objects and developing detection of icing condition inflight for aircrafts are part of seven new projects Defence Research & Development Organisation (DRDO) has awarded to industries for various requirements of the armed forces, and aerospace and...
MUMBAI: The Red Sea crisis is likely to impact the margins of the auto component industry over the next few quarters amid higher container rates and shipping time, credit ratings agency ICRA said on Thursday, projecting a moderate growth for the industry this fiscal. Close to two-thirds of the...
NEW DELHI: The government needs to take steps such as reviewing personal income tax slabs in the upcoming Union Budget to drive private consumption, which in turn will drive private investment, Godrej & Boyce Executive Director & CEO, Anil G Verma said on Thursday. He also expressed optimism that...
NEW DELHI: Capital markets regulator Sebi will auction eight properties of HBN Dairies & Allied Ltd next month for a reserve price of Rs 67.70 crore. The move is a part of Sebi’s effort to recover money raised by HBN Dairies through illicit collective investment schemes. This came after...
MUMBAI: The rupee settled for the day 5 paise lower at 83.56 (provisional) against the US dollar on Thursday, weighed down by a weak tone in domestic markets and a recovery in crude oil prices. Forex traders said rupee traded with a slight negative bias on profit booking in...
NEW DELHI: India’s retail inflation, based on the Consumer Price Index (CPI), likely rose to a four-month high of 4.9% in June due to increase in vegetable prices in the backdrop of delayed monsoon, a median of a poll of 18 economists by FE showed. The estimates ranged from...
NEW DELHI: In their Budget recommendations to the Finance Ministry, telecom service providers have called for the introduction of a special regime for the telecom operators allowing them to carry forward and set off business losses for up to 16 assessment years, from the existing 8 years. The Cellular...
MUMBAI: Debenture trustees are likely to get significant relief as a Securities and Exchange Board of India (Sebi) working group is expected to recommend reduction in compliance burden and speeding up dispute resolution mechanism. The group also proposes pruning the number of regulations for listing and post-listing from five...
NEW DELHI: India-involvement announced M&A activity grew 4.4 per cent in January-June 2024 to touch $37.3 billion, latest LSEG Deals Intelligence Data showed. This is the highest first half period activity since 2022 when M&As had hit a record level of $ 129.77 billion. In the first half last...
MUMBAI: Indian companies raised a record $29.5 billion (nearly Rs 2.5 lakh crore) in the equity market through IPOs & FPOs during the first half of 2024, more than double the amount raised in the same period last year. The Jan-June total is the highest-ever in terms of proceeds,...
NEW DELHI: India’s iron ore exports saw a near 5 per cent y-o-y increase for the April–June period (Q1FY25) to 10.25 million tonnes (mt) despite reduced demand from China, the key buyer. Indian exporters tapped into other smaller markets like Indonesia and Malaysia, trade data show. China, despite a...
NEW DELHI: In a strategic move to ease the financial burden on consumers, Union minister for power and housing & urban affairs Manohar Lal, has urged the Chhattisgarh government to refrain from imposing any cess on hydro power projects and Pump Storage Projects. This appeal was made during his...
NEW DELHI: The weak refining margins that weighed on the state-owned oil marketing companies’ (OMCs) profitability in Q4FY24 is likely to persist and result in subdued earnings for the country’s downstream petroleum sector in the first quarter of 2024-25. “We expect average gross refining margins of PSU refiners –...
JAIPUR: Rajasthan Finance Minister Diya Kumari on Wednesday proposed Rs 27,000 crore for the health sector and Rs 15,000 crore to provide tap water to 25 lakh rural houses in the state Budget for FY25. Presenting the full budget for the fiscal, she said four lakh vacancies will be...