ECONOMY
Bribery charges against Gautam Adani credit negative for Adani Group: Moody’s Ratings
'Our main focus when assessing Adani Group is on the ability of the group’s companies to access capital to meet their liquidity requirements and on its governance practices,' says the rating agency.
BUSINESS
Economists warn against RBI cutting interest rates amid high inflation
The discussion comes ahead of RBI’s December monetary policy meeting, where all eyes will be on Governor Shaktikanta Das's next move
BUSINESS
Municipalities in poll-bound Maharashtra are flush with funds, shows RBI report
The RBI report on municipal finances shows that 10 municipalities across the country account for the lion’s share in revenue receipts with those in Maharashtra boasting a revenue surplus of Rs 11,104 crore as per the budget estimates for FY24.
BUSINESS
Will surpass direct tax target of Rs 22 lakh crore in FY25: CBDT Chairman Agarwal
Trends of direct tax collection indicate that the budget target will be met, Ravi Agarwal said
COMPANIES
Why ICAI will seek review of NFRA's decision to amend audit standards?
NFRA during its board meeting recommended the revision of Standards on Auditing (SA) 600 to hold the group auditor ultimately responsible for the audit
BUSINESS
NFRA board meet to weigh global audit standards for LLPs, may align with company norms: Source
Given the rise of LLPs in critical sectors and a growing preference for registering businesses as LLPs, the NFRA sees a need for bolstered transparency and accountability.
BUSINESS
India turns 3rd most improving market in business environment ranking: EIU Report
India is the "only single-country market that offers a potential scale comparable to that of China" that makes it an attractive destination for global investors looking to diversify their operations
BUSINESS
Maharashtra's decline from being fiscal surplus to a fiscal deficit state
A higher fiscal deficit, lower capex spending, and rising revenue spending have contributed to a decline in Maharashtra's fiscal situation. Economists say the state needs to return to capex spending
INDIA
Higher PIT collection doesn't equate higher tax on individuals, sources clarify
The clarification comes as the corporate tax collection growth stood lower than PIT in the current fiscal as reflected in the government data till November 12.
BUSINESS
Trump 2.0: India poised to leverage comparative advantage amid shifting global trade and supply chains
India stands to benefit, particularly in sectors like pharmaceuticals, textiles, and electronics, which are positioned to capture value as companies look to diversify away from China, a State Bank of India (SBI) report said.
BUSINESS
Respite from food inflation in 4 months likely; agri will grow at 5% in FY25: Ramesh Chand of NITI Aayog
Food Inflation continues to be a worry but is expected to ease in March-April with the arrival of new crop, says Ramesh Chand of Niti Aayog. He adds that while Urad dal production fall to a 10-year low in FY 25 is a concern, production of other pulses will be better.
BUSINESS
GST Council likely to meet at December-end, tax relief for health, life insurance on cards
The Council was expected to meet this month but now the meeting has been moved to align with Union finance minister Nirmala Sitharaman holding pre-budget consultations with her counterparts from states
BUSINESS
India Inc seeks wider PLI ambit, independent tax dispute resolution forum in pre-budget discussion
Union Budget 2025-26 is an opportunity to reinforce India’s stability and create a blueprint for a prosperous, equitable, and technologically advanced country, the industry bodies told revenue secretary.
BUSINESS
FCI’s Rs 10,700 crore equity boost to aid inflation control, cut food subsidy bill, say experts
India’s food management body, FCI’s dependence on short-term loans and interest costs would reduce with this capital infusion.
INDIA
India-US defence ties to get stronger post Trump win, trade issues could create friction: Experts
A Moneycontrol analysis found that both the Biden and Trump administrations contributed equally to arms exports to India
BUSINESS
CBDT weighs overhaul of designations for income tax officials to secure better clarity
As part of the restructuring, the condonation of delay, a critical process that allows taxpayers to verify their Income Tax Return (ITR) or file it after the deadline, was also reviewed
BUSINESS
CBDT’S reform push: Mulls separation of investigation, assessment roles for fairer income-tax process
The CBDT had sent 1 lakh tax notices last year. With the proposed move, it hopes to bring in more efficiency in handling tax evasion and mitigate potential bias.
BUSINESS
MC EXCLUSIVE: ‘Govt’s savings likely to increase by up to 28% in FY25 due to expenditure reforms’
The government has expanded the Treasury Single Account to cover all Central sector schemes, which have budgets of more than Rs 100 crore. In FY24, the threshold for similar schemes was higher at Rs 500 crore. Altogether, savings of up to Rs 18,000 are expected in this fiscal, which are being attributed to just-in-time payment measures, according to an official.
BUSINESS
Hospitalisation costs need to come down amid 'vengeance' hikes, insurers tell NITI Aayog
During the meeting, general insurance companies pointed to the lack of transparency and standardisation in corporate hospitals’ fee structures, but healthcare service providers denied adopting arbitrary pricing strategies. Insurers say hospitals levy charges such as electricity, bedsheet-change, on-duty medical officers charges separately when these ought to be part of the room rent.
BUSINESS
India’s power ambitions could take a hit due to transformer steel shortage
India aims to add 80 GW of new thermal power capacity by 2032. Experts worry that factors such as global supply chain hiccups, copper price volatility and raw material shortages could hurt India’s scaling-up ambitions.
BUSINESS
6.95 lakh annual financial statements filed till Oct 28, rising 1.6% over last year
Some 6.84 lakh annual returns forms were filed between April and October 2023
BUSINESS
Decision on including IREDA, HUDCO under Section 54EC likely on backburner amid FinMin delay
Including IREDA and HUDCO under Section 54EC of I-T Act would allow tax exemptions for investors on capital gains by investing in designated bonds
BUSINESS
Inflation well-contained; Headline retail inflation may not accurately reflect demand: Finmin
Favorable factors such as replenished reservoir levels, a robust Kharif crop forecast, and ample food grain stocks are expected to sustain the inflation trend over the medium term.
BUSINESS
Will India's diamond hub sparkle this Diwali? Surat traders hope for festive cheer
Sanctions on Russia, a global demand slowdown and competition from lab-grown diamonds are some of the hits the Rs 1.6-lakh-crore Surat diamond industry took. It is pinning hopes on the festival to reignite demand
