BUSINESS
Push on infra, green power to boost domestic demand for steel: Jindal Steel and Power
Steel demand will likely expand by 8-9 million tonnes in each of the next two financial years, resulting in growth of 7.5 percent in FY24 and 6.3 percent in FY25.
BUSINESS
Exclusive: Apple plans to scale up domestic component manufacturing in India
In a meeting with finance ministry officials in July, Apple shared plans to indigenise faster and increase their domestic component manufacturing base in India.
BUSINESS
India's nominal GDP growth could be 50 bps higher than Budget assumption: Fin Min source
A higher nominal GDP figure versus the budgeted figure could mean that the Centre’s tax mop-up for 2023-24 may be better than the projections, giving the govt more leeway in meeting its fiscal deficit target.
BUSINESS
After onion farmers, it’s now tomato growers in Maharashtra who are headed to join protest against price fall: AIKC
Farmers, who were raking in big money on the spurt in prices of tomatoes, are upset at the government intervention
BUSINESS
Bullish on India: Most businesses seeing signs of recovery: Former Commerce Secy
Capital investment is rising, infrastructure is improving and most businesses are seeing signs of recovery, he said. Overall, the economy is doing well, Pillai said.
ECONOMY
Bullish on India: India has most ingredients necessary for growth, says former DEA Secy R Gopalan
With its sheer size of market, impressive GDP growth and large middle class, India presents a compelling case for long-term growth prospects
BUSINESS
Exclusive: India hopes to get discounted Russian oil as long as global price below $90/barrel, says govt source
With few takers for Moscow's oil, India is confident that Russia will not push New Delhi to breach the $60 per barrel ceiling for Russian crude even as prices go up, the official told Moneycontrol
BUSINESS
CAs need to familiarise themselves with new areas of global accounting: FM Sitharaman
These include carbon accounting, Corporate Social Responsibility accounting and Environmental, Social, and Governance-related due diligence
BUSINESS
Exclusive: States likely to fall short of using capex loans allocation by 20% in FY24: Govt official
The underutilisation of these capex loans is said to be on account of some states not meeting the reform-related conditions
BUSINESS
India not pitching for bond inclusion to index providers anymore: Govt source
In 2022, key index providers such as JP Morgan and FTSE Russel retained Indian government bonds on their watch lists. Though a review is due at the end of the current quarter ending September, the government has not recently been in discussions with index managers, according to the official who spoke on the condition of anonymity.
ECONOMY
MC Interview: Growth in small savings significantly high, on track to meet Rs 4.71 lakh crore target, says Fin Secy
TV Somanathan also said that NSSF inflows will not be impacted even if many people shift to the new direct tax regime
BUSINESS
July inflation peaked at 7.44 percent, expected to come down says Finance Secretary: Exclusive
Even as the finance ministry expects CPI numbers to cool down going ahead, the government will continue to take more steps to contain inflation but avoid any knee-jerk reactions, Somanathan told Moneycontrol in an interview.
BUSINESS
On track for full capex this year, will frontload 60% in H1: Government Official
The frontloading of capex is crucial for the government as it seeks to boost growth and make up for the lag in private investment as global demand continues to be weak, impacting the export markets.
BUSINESS
Bullish on India | UPI will be key to accelerating India’s economy: NPCI CEO
UPI has 10X growth possible still from the very current base, says Dilip Asbe
BUSINESS
India rides on consumption boom, investments to hit the fast lane: Suresh Prabhu
Prabhu said government policies need to be balanced for higher consumption but, at the same time, should elevate savings for all – households, corporates and government – to make available a bigger pool for investment-led growth
BUSINESS
Exclusive: Fin Min planning to offload 3 percent in Cochin Shipyard in Q3
The government, which holds a 72.86 percent stake in Cochin Shipyard, aims to rake in Rs 500-600 crore through an offer for sale for the 3 percent stake.
BUSINESS
Exclusive: Finmin plans Bharat Bond ETF tranche in Q3
This year, the issue size may be smaller as there is less incentive for investors since the LTCG indexation benefit for debt investments has been scrapped.
BUSINESS
Exclusive: Issues around demerger of SCILAL to be resolved in the next couple of weeks, listing soon: Sources
There were two major hitches to the demerger. One related to the waiver of stamp duty by the Maharashtra government and the other to a letter from an SCI employees’ association to SEBI
BUSINESS
Fin Min likely to invite financial bids for strategic sale of HLL Lifecare in Sept
Government has decided to go ahead with the divestment despite objections from the employees, says private sector can bring more capital and better management techniques.
BUSINESS
Exclusive: 1.25 lakh entities, including government agencies, under probe in new drive against fake GST ITC
An earlier two-month drive held by the CBIC, between May 14 and July 14, verified 60,000 entities, of which 20,800 were found to be bogus.
BUSINESS
MC Explainer: How 28% GST on online gaming will work
A rate of 28 percent will apply on all real money games. Moneycontrol looks into the nitty-gritties and impact of the move that comes into effect from October 1.
BUSINESS
Online gaming cos get some relief, 28% GST to be reviewed six months after implementation
While the GST Council's decision was not unanimous, no formal vote was required as only a handful of members voiced their dissent
BUSINESS
Exclusive | Ministries to discuss anti-dumping duty on more Chinese goods
The steel ministry has recommended anti-dumping duty on stainless steel products in view of an influx of cheaper goods from China.
BUSINESS
MSMEs may face tech infra challenge in GST e-invoicing: Experts
Successful implementation requires adequate training, support, and collaboration between businesses, technology providers and relevant government agencies.
