BUSINESS
MC Exclusive | Uday Kotak is my greatest strategic asset, says Ashok Vaswani, MD, Kotak Mahindra Bank
Talking about the relationship with Uday Kotak, the bank's founder and non-executive director, Vaswani said that while he didn't know him previously, Kotak deserved credit for stepping away from something he had built.
BUSINESS
MC Exclusive | Will look at every inorganic opportunity: Ashok Vaswani, MD & CEO, Kotak Mahindra Bank
When asked if the bank would be interested in picking up a majority stake in IDBI Bank, Vaswani said the bank would evaluate all inorganic growth options
BUSINESS
New Energy Business and emphasis on technology were key themes of Ambani’s speech
RIL’s roadmap has three key elements. Exhaustive details of the growth plans for the new energy business, a continued emphasis on scale for all units, and an acceleration of the drive to convert Reliance into a technology powerhouse
BUSINESS
Trump or Harris? Ruchir Sharma explains why US election outcome won't affect India
He contrasted this with India’s approach, saying, "India cannot replicate China's extreme growth model due to our commitment to welfare spending. Instead, our focus should be on privatisation and infrastructure development to drive growth."
INDIA
No government in India has ever won an election when inflation is high, says Ruchir Sharma
Citing his research, Sharma said that in India, there have been about 30 odd instances when a Chief Minister or a Prime Minister has delivered economic growth of 8 per cent or more during their term
BUSINESS
PM Modi should now focus on his legacy, think about empowering states: Ruchir Sharma
While acknowledging these broader issues, he emphasised that India can do a lot more to improve the domestic business environment.
BUSINESS
UPA-era welfarism led to severe imbalances by 2012-13, economy saw some correction under NDA: Ruchir Sharma
In an exclusive interview to Network 18's Zakka Jacob and Bodhisatva Ganguli, Sharma said the second term of the UPA government was more about welfare than economic growth.
BUSINESS
Capitalism of today very different from what founders had in mind: Ruchir Sharma
He described the early 20th-century capitalism as "very raw," where there was minimal support for the unemployed. In contrast, the current system is marked by a "culture of constant bailouts" and "constant stimulus," which he believes is detrimental.
INDIA
Ruchir Sharma recalls 'underwhelming' meeting with Rahul Gandhi in 2007, says Congress leader has now transformed
Despite the incredible amount of negativity he's faced in politics, Rahul Gandhi has persisted with it and people now are seeking to give someone else a chance, said Sharma
BUSINESS
Full transcript of Ruchir Sharma's exclusive interview to Network18
In an exclusive interview to Network18's Zakka Jacob and Bodhisatva Ganguli, prominent investor and Chairman of Rockefeller International Ruchir Sharma speaks about his new book on capitalism, his roadtrip in the run up to the Lok Sabha polls, and the upcoming presidential elections in US. Here's the full transcript:
BUSINESS
India's challenging business environment, 'sense of fear' drive entrepreneurs abroad, says Ruchir Sharma
Sharma, Chairman of Rockefeller International, noted that the general macroeconomic management of India has been “reasonably good”. However, the microeconomic side and overhang of investigative agencies remain a concern, driving away domestic talent.
BUSINESS
HUL is the best pick for anyone looking to invest in the long-term growth story of India and FMCG industry: Rohit Jawa
Despite short-term challenges, Jawa expressed confidence in HUL's long-term potential, driven by India's expanding consumer market and innovation across core and emerging categories.
BUSINESS
Investors are increasingly turning to consumer stocks, and HUL stands out: CEO Rohit Jawa
We represent a top-tier global company in the consumer sector, poised to thrive as the Indian market expands two or threefold in the foreseeable future, said Jawa.
BUSINESS
Finance Ministry denies report on short-term capital gains tax hike
The 2024 Budget raised STCG tax on specific financial assets to 20 percent from 15 percent.
BUSINESS
MC Exclusive: End of sovereign gold bonds?
The government reduced import duty on gold and silver to 6 per cent from 15%. This could be setting the stage for stopping the issuance of Sovereign Gold Bonds.
BUSINESS
Revenue secretary rules out a rethink on LTCG as 'marginal' hike in levy is justified
"This LTCG increase will impact only the people with higher income as per our study,” Sanjay Malhotra told Moneycontrol in an interview.
BUSINESS
Direct tax relief for middle class in Budget 2024 is ‘sufficient’: Revenue Secy
Budget 2024 has given relief of Rs 17,500 this year in direct tax. In last year's Union Budget, the government had reduced the number of tax slabs, and adjusted the rebate limit in the new tax regime to Rs 7 lakh.
BUSINESS
12.5% LTCG is low compared to global standards, says Finance Secretary Somanathan
The long-term capital gains tax is now a uniform rate of 12.5 percent without indexation for all asset classes. The holding period for eligibility has been standardized to one year for all listed assets and two years for non-listed assets, the finance secretary said.
BUSINESS
A tale of two numbers, fiscal target buoys markets, tax on capital gains a dampener
While the equity market may be digesting the impact of higher capital gains tax, the bond markets unequivocally welcomed the fiscal deficit being pegged at 4.9 percent of GDP as against the interim budget's 5.1 percent.
BUSINESS
No need to raise capital gains tax for now
It could hit emerging equity culture, hurt foreign inflows. The government should hold its hand at this stage of the development of Indian stock markets and economy
BUSINESS
Raymond committed to creating sustained shareholder value across businesses: Gautam Singhania
There is already a succession plan in place for the Raymond group which is yet to be disclosed publicly. While specifics are confidential, rest assured, a well-considered and robust process is in place, maintains Raymond Chairman and MD.
BUSINESS
Economic reforms to remain on track: Brokerages
Analysts expect the NDA coalition to hold firm as it was formed before the elections, with consensus on policies and no contentious issues to cause a rift among partners.
BUSINESS
Raising capital gains tax is detrimental to investor confidence and market stability
Raising the tax at this juncture will dampen the emerging equity culture and hurt foreign investment inflows
LOK-SABHA-ELECTION
PM Modi says growth trumps handouts, criticises ‘urban naxal’ mindset
The Prime Minister pledges to make the Indian economy the world’s third largest.
