BUSINESS
CEA Nageswaran bats for 'alternative data sources', says can aid timely intervention in policy-making
Alternative data is the by-product of everyday digital interactions such as satellite images, location and mobility trail, digital payment trail and e-commerce transactions
BUSINESS
Scrutiny shows 7-8 lakh HNI taxpayers likely earn over Rs 1 crore annually but ITRs show less income
Income tax authorities are monitoring high-value spending of taxpayers through TCS and TDS, foreign remittances, and examining GST data to assess the spending of HNIs, sources have told Moneycontrol.
BUSINESS
Experts skeptical of new CIRP rules, say some provisions not aligned with IBC
The amendment which allows RP--with the approval of COC--to invite expression of interest (EoI) for submission of resolution plans for the corporate debtor as a whole, or for sale of one or more of assets of the corporate debtor, or for both, raises important legal and procedural concerns, experts reckon.
BUSINESS
Weight of 'Income Distance' criteria may shrink in next Finance Commission's formula
The current finance commission - whose recommendation are valid for 2021-26 – had previously suggested to assign 45% weight to income distance, which resulted in UP and Bihar getting a fairly larger share of taxes as against relatively well-off states like Kerala, Karnataka or Haryana.
BUSINESS
Investment in economy helped Q4FY25 GDP but need to see if trend sustains, say economists
Data released by the finance ministry showed that in Q4FY25, the central government’s capital spending jumped 33.1% on year as compared to a mere 1% growth recorded in the first nine months (April-December) of FY25.
BUSINESS
'Hub-and-spoke based skilling' need of the hour, says Labour Minister Mansukh Mandaviya
The minister lauded the present Prime Minister Internship Scheme (PMIS), and said that 10 million youth will get job opportunities in "downstream companies" in the next 5 years.
BUSINESS
Time to build healthcare system for future generations, says Health Minister JP Nadda
Minister Nadda called for efforts to strengthen the healthcare system to meet the 2047 development roadmap, and underlined Centre’s commitment to healthcare reforms, innovation and accessibility.
BUSINESS
FinMin earmarks Rs 13,000 crore under capex loan scheme to push states' governance and urban reforms
States and UTs are required to build municipal cadres and digital interventions for improved governance; integrate the property tax portal with a unique ID and diversify revenue sources; implement town planning and land pooling schemes; revitalise central business districts; and build theme-based greenfield cities under the three categories of reforms.
BUSINESS
A successful US-India trade agreement could flip current "headwinds into tailwinds": FinMin report
The ministry added that despite global uncertainties and trade tensions, India remains the fastest-growing major economy.
BUSINESS
Centre pushes for EoDB through capex loans to states scheme
For EoDB, the Centre has categorised the states into three different groups – small, medium & big. The incentive (loan) shall be allocated to the states on 'first come-first serve' basis, based on reforms undertaken in two priority areas – land, and building & construction, sources said.
BUSINESS
Leading US tech giants seeking direct tax sops to expand data centers in India
Government officials said the Centre does not wish to provide any direct tax incentives as states are already dispensing several sweeteners. but the matter is 'being discussed' at the moment.
INDIA
The never ending CIRP process: Why the IBC needs better coordination
Experts say a multi-pronged approach such as strengthening enforcement against non-cooperating promoters, improving coordination among statutory authorities, etc, is required to ensure that the mandatory timeline is not violated.
BUSINESS
New Global Tax Push: India to spearhead G24 digital economy meeting in June
According to a senior government official, India is likely to chair a meeting of the intergovernmental committee of 24 nations, known as G24, in June to deliberate on the aspect of taxing the digital economy.
BUSINESS
Income tax lens on Bhushan Power post SC’s annulment of JSW takeover: Sources
During the IBC proceedings, in FY21, BPSL’s losses were close to Rs 7,000 crore, but post the acquisition, the company turned profitable and claimed benefits in the financial years FY22, FY23, and FY24.
BUSINESS
Centre unlikely to intervene in JSW-Bhushan Power matter as IBC ‘not questioned’ by apex court
The Committee of creditors (CoC) led by Punjab National Bank is likely to join hands with JSW Steel in seeking a review of the Supreme Court's verdict in the Bhushan Power and Steel (BPSL) case.
BUSINESS
Made in India for the world: India aims for defence exports to rise to Rs 30,000 crore in FY26
Besides BrahMos, India’s other ballistic missiles such as K4, K15, artillery guns, and tech enabled rifles have received attention from external buyers, says former DRDO Director.
BUSINESS
PLI scheme for food processing industry has catalysed investments worth Rs 7,000 crore: Official
'Till date, ministry has funded almost 1,600 projects leading to creation of 41 lakh tonnes of food processing capacity and benefitting almost 9 lakh farmers,' says Ranjit Singh, joint secretary, MoFPI said
BUSINESS
Net financial savings of households inch up in FY24; economists flag delay in consumption
In absolute terms, however, household investments stood at Rs 54.61 lakh crore in FY24 as against 50.1 lakh crore in FY23, and Rs 38.44 lakh crore in FY19.
INDIA
Story of BrahMos: How APJ Abdul Kalam led the development of India’s first supersonic cruise missile system
In February 12, 1998, former President APJ Abdul Kalam and NV Mikhailov, Russia’s first Deputy Defence Minister, signed an inter-governmental agreement, which led to the formation of BrahMos Aerospace (BA), a joint venture between DRDO and Russia's NPO Mashinostroyenia (NPOM), with India holding a 50.5 percent stake and Russia 49.5 percent.
ECONOMY
Unemployment rate in April at 5.1%: Monthly PLFS Bulletin
Unemployment among females during April stood at 5%, and among males at 5.2%
BUSINESS
Lower inflation and lower interest rates ahead: MC poll of economists
The median of 15 estimates puts CPI inflation at 3.8 percent for FY26. If the RBI cuts rates by 50 basis points, the repo rate would fall to 5.5 percent from the current 6 percent. The RBI's MPC is scheduled to meet next on June 4-6.
BUSINESS
India’s domestic defence equipment capable of new-age warfare but pvt participation should increase: Experts
India’s domestic defence industry has seen a sharp increase in output since 2015. The total value of indigenously produced equipment in FY24 was Rs 1.3 lakh crore, 174% higher than in FY15.
BUSINESS
FinMin note on climate finance to enable channeling funds to India's green ecosystem, say experts
The game-changer framework acknowledges the need for "proportionality" and "sector-specific pathways", rather than a one-size-fits-all approach, say experts in PwC and EY.
BUSINESS
Popular beers absent in Delhi stores: Experts say 'Restore private liquor stores'
According to data shared by the industry, beer sales in the national capital fell by 37% year-on-year in 2024.
