Front Page

Infra Push: No ownership transfer under Rs 6 lakh-crore asset monetisation plan

Pipeline of brownfield assets unveiled for FY22-25; CPSEs to use the proceeds to invest in greenfield ventures

Also, over the next four years, the share of non-tax revenues in the Union government's overall revenues could rise as as result of the NMP.

Edtech start-up Eruditus looks for acquisitions to broaden its portfolio

Besides, the Mumbai-based start-up will also look at acquisitions that have the potential to give the firm a foothold in the undergraduate segment.

Eruditus recently bagged a fresh $650 million in funding led by Accel and SoftBank Vision Fund 2 at a post-money valuation of $3.2 billion.

Income Tax e-filing portal glitches: Finance Ministry summons Infosys CEO Salil Parekh

On June 8, a day after the new website was launched, Sitharaman had informed Infosys about the technical difficulties being faced by taxpayers.

Speaking to a group of journalists a week ago, the minister had said I-T portal glitches would be rectified “in 2-3 days”.

Export credit: Key interest subsidy scheme to be extended

The scheme, introduced in 2015, was initially valid up to March 2020. Its validity was then extended periodically, along with that of the foreign trade policy, up to September 2021.

exporters,

Fuels, electricity under GST ambit: NITI Aayog formula includes six-year aid to states

Besides getting a 50% share in the GST on petrol and diesel, the states could also benefit from higher devolution, as the Centre’s 50% revenue from the fuels will also be part of divisible pool, aga

The idea of bringing energy under GST could likely be resisted by states, as they fear further loss of their fiscal autonomy as a result.

After tepid Q1, firms eye demand revival; costs begin to rise after having been reined in for long

The spike in the prices of inputs, which was reflected in the fall in gross margins, could continue to pressure profitability until demand picks up enough for companies to be able to pass on the incre

Pandemic takeaway for restaurants: Home delivery is here to stay

Survey reveals consumers will prefer safer option of eating at home

Pre-pandemic, 60% of diners preferred eating in standalone AC and franchisee restaurants, but now nearly 50% diners prefer visiting fine dining and franchisee restaurants.

PLI scheme for wearable devices by April 2022

“We are holding consultations with the industry regarding the PLI scheme. The outlay for the scheme will be decided based on the level of manufacturing commitment by the companies. We want to achiev

The ministry of electronics and IT (Meity) has already launched two PLI schemes -– one for smartphones and another for laptops, tablets, servers and all-in-one PCs. If everything goes as per plan, the PLI for wearables will be notified by April 1 next year.

Virtual view: Online house hunting rises; physical visits reduced to less than half during pandemic

In April-June 2021, when India faced the most virulent wave of Covid infections, online searches rose steeply in Delhi-NCR, particularly in June.

In April-June 2021, when India faced the most virulent wave of Covid infections, online searches rose steeply in Delhi-NCR, particularly in June. On the other hand, housing sales, too, picked up in the quarter with most buyers finalising their purchases in June.

Zydus Cadila vaccine in September: Plan for 10-12 crore doses yearly, price to be announced in a week

Zydus received Emergency Use Authorisation from Drug Controller General of India on Friday for the Covid-19 vaccine, ZyCoV-D.

According to Patel, Zydus Cadila had invested Rs 500 crore in developing the vaccine and in the manufacturing capacity with further investments expected as manufacturing capacity was being ramped up. The company had secured raw materials for next four to six months, Patel said.

Ubharte Sitaare Fund: Rs 250-crore export-oriented fund for MSMEs launched

The fund, jointly sponsored by Exim Bank and SIDBI, has a size of Rs 250 crore with a green shoe option of Rs 250 crore. The fund will invest by way of equity, and equity-like products, in export-orie

The initiative would play a catalytic role in contributing to the growth of the identified companies and would also have downstream benefits such as growth and diversification of India’s exports, impetus to brand India, and employment generation.

Fintechs see flow of funds as digital rises: Domestic firms attract about $2 billion funding between January & June

India and China accounted for the highest fintech adoption rate in the world’s emerging markets, as per a joint report published by EY and IVCA earlier this year.

India and China accounted for the highest fintech adoption rate in the world’s emerging markets, as per a joint report published by EY and IVCA earlier this year.

Monetary Policy Committee minutes: Economy struggling, needs support, says RBI governor Shaktikanta Das

The MPC had, on August 6, voted to keep the repo rate at 4% and retain its accommodative stance.

Shaktikanta Das, RBI governor

With fresh $105-million fundraise, B2B manufacturing platform Zetwerk joins unicorn club

The company's revenue from operations increased to Rs 949 crore in FY21 from Rs 360 crore in FY20. Losses narrowed to 2% of revenues against 8% in the year-ago period, the firm claimed.

The investment, part of the company’s Series E financial round, is also being backed by Lightspeed Venture Partners, Greenoaks Capital and Accel.

Cotton Corporation of India may need to procure much less as prices likely to rule above MSP

As against 92 lakh bales that was procured in the 2020-21 season, the CCI may not be required to procure more than 30 lakh bales for the new season, Pradeep Kumar Agarwal, CMD of the CCI, told FE.

The new season may begin with an opening stock of 60-70 lakh bales.

Microfinance institutions look at new ways to boost collections

Lenders have now begun to team up with fintech players and payment gateway companies to digitise some aspects of the collection process. The aim here is to ensure repayments are not hurt even when gro

Suryoday SFB took the route of funding its customers through its overdraft facility, where the customer is charged only on the amount withdrawn by them from the account.

Eye on margins: Oil marketing companies hold fuel prices even as crude softens

Direct and second-round effects of the high fuel prices are fuelling inflation in an economy struggling to come out of the woods.

The base price charged by the OMCs to the dealer, and hence, the retail motor fuel prices touched all-time high levels across the country on July 17 and have since remained at roughly the same levels.

Limited trade pact with US deferred: Working with US on market access issues, says Piyush Goyal

Goyal was apprising exporters of the opportunities on the FTA front that they can reasonably expect over the short-to-medium term and manage their expectations accordingly and boost exports.

The US is India’s largest export market, having made up for outbound shipment of almost $52 billion in FY21.

Lifting of ban on new credit cards partial relief for HDFC Bank

In his letter to his colleagues, Jagdishan said in the coming months, HDFC Bank will aggressively go to the market with not just its existing suite of credit cards but also new offerings in the form o

Analysts viewed the development as a positive for the bank.

Rising fuel prices: Oil bonds’ cost barely 10% of Centre’s extra revenue from fuel taxes

Put differently, the servicing cost of oil bonds upon the Centre in the decade mentioned would be just 9% of its additional revenues from fuel levies.

Clearly, the auto fuel taxes are proving to be a goldmine for the Centre, as it is faced with severe revenue constraints.

$225-million fundraise: Postman valuation hits $5.6 billion

Founded in Bengaluru and now headquartered in San Francisco, Postman today has more than 17 million users and 500,000 organisations on its platform. The company counts Salesforce, Microsoft, Cisco and

The SaaS (software-as-a-service) start-up became a unicorn last year after it garnered $150 million in funding from investors at a valuation of $2 billion.

Demanding relief: Telecom industry seeks huge revival package, major cuts in levies from govt

On the spectrum usage charge (SUC) the demand is for reduction by 3 percentage points for all operators. Currently, it varies between 3-6%, depending when the operators acquired spectrum in respective

Trai has recommended that the USO levy be reduced to 3% from 5% so that the overall licence fee becomes 6%, a reduction of two percentage points.

Trai’s channel pricing: Supreme Court refuses to stay Bombay High Court order

Seeking response from Trai and others, a bench led by Chief Justice NV Ramana refused to stay the HC order on a batch of appeals filed by IBF and other broadcasters.

Ahead of Wednesday’s announcement and ahead of any tariff hikes, analysts estimate Voda-Idea’s annualised shortfall in cash-flows at a minimum of Rs 23,000 crore.

Credit shrinks less in second Covid wave due to localised lockdowns

In a report dated August 16, Nomura said that its India business resumption index (NIBRI) took less than three months to cross 100 after the second wave, whereas it had taken nearly 10 months to crawl

The first half of the financial year typically sees muted loan growth before the busy season begins with the festive season.

Low outlay: RoDTEP scheme has exporters worried

Scheme brings predictability & wider coverage, but caps benefits

Under the MEIS, the government used to offer eligible companies scrips in the range of 2-5% of the freight-on-board value of their exports, higher than the RoDTEP refund rates.

Retail Stress: Auto-debit bounces ease in July, still above levels before Covid

In terms of value, the bounce rate on auto-debit requests stood at 27.35% in July, almost at par with the levels seen before the second Covid wave emerged in April.

According to data released by the National Payments Corporation of India, of the 86.47 million debit requests made in July over the National Automated Clearing House (NACH) platform, 28.74 million bounced.

Redoing the math: Govt can help correct AGR dues, says Vodafone Idea

Responding to analyst queries over an earnings conference call, Ravinder Takkar, managing director and CEO, VIL said, “In my view the government has powers to run the country and decide what is the

He also said the company is in active discussions with the investors for its planned Rs 25,000-crore fundraise.
Advertisement
Income Tax Calculator, Budget 2019, How to Calculate Income Tax

 

Stock Market

Advertisement
Advertisement