BUSINESS
We do not believe in doing hand-to-hand reciprocal action: NK Singh
The Trump tariffs make the WTO more and more dysfunctional, says the economist and former MP
BUSINESS
India likely to negotiate more with US under Section 4C and not retaliate
27% tariffs were levied on India as part of Trump’s reciprocal plan, lowest amongst its Asian peers. The government intends to negotiate further and reduce tariffs for US imports into India under section 4 C of the executive order.
BUSINESS
Govt unlikely to go ahead with privatisation of banks: Official
Government’s ambitious bank privatisation agenda is off the table with an overarching view that public sector banks are profitable and evoke greater trust. The Modi government had announced privatisation of two public sector banks in 2021-22
BUSINESS
India may follow US' cue on cryptocurrencies
With Trump’s administration embracing crypto, an inter-ministerial group is recalibrating its approach on digital currencies as its finalises a discussion paper
BUSINESS
IndusInd Bank issue is of internal compliance lapse; not indicative of systemic risk to the sector: Govt official
A government official told Moneycontrol that the IndusInd issue is a stand-alone and is not indicative of the risks in the banking system.
BUSINESS
There is a shortage of plus 6 percent stories out there: S&P Global's Vishrut Rana
Especially over the recent year or so, I think the slower momentum in the economy is one of the factors that is pushing households into lower savings, and also partly into taking up debt for funding durable goods purchases, which is a future strain on the balance sheet of the household, says Vishrut Rana
BUSINESS
China has embraced Chanakya’s Saam Daam Dand Bhed, we must too, says Nilesh Shah, MD, Kotak MF
As long as foreign portfolio investors are selling aggressively, markets will continue to go down. India has to deliver on the earnings growth expectations and push forth a fresh narrative for foreign investors.
WORLD
India’s policy pill for Trump to include tariff reductions across sectors from auto to chemicals to IT
Sources familiar with the matter say that India is clear that it doesn’t want to go the Canadian way in imposing ‘retaliatory tariffs’.
PODCAST
The new IT Bill decoded - what’s in it for you? Political Economy
The new income tax does not bring in any policy changes, it removes a lot of redundant provisions and reduces compliances. The new IT code tries to keep it simple. Ganesh Raj, Partner, Tax and Regulatory Services explains how the new IT code could reduce litigation.
BUSINESS
Trump tariff threats present opportunity for India, too much protection detrimental to growth: Shamika Ravi
Dr Shamika Ravi, Member, Prime Minister’s Advisory Council, says now is the time for India to re-look its trade policies. The policies should be geared towards getting India to make for the world.
BUSINESS
Trump trade war: Will India lower auto tariffs to buy time?
With the April 2 deadline looming for Trump’s tariffs to kick in, India could lower tariffs on automobiles and keep the engagement with the US going in a bid to buy time until the Quad Summit in 2025 in New Delhi.
BUSINESS
Trump tariffs to deal devastating blow to Canada and Mexico: Harvard professor Robert Lawrence
As Trump rolls out 25% tariffs on imports from Mexico and Canada, Harvard Professor of International Trade, Robert Lawrence, says that apart from a devastating blow to Mexico and Canada, Americans will find their consumption bills go up
BUSINESS
There seems to be a willingness on part of Trump administration to treat India differently: Harvard's Robert Lawrence
He has repeatedly slammed India as a "very big abuser" of tariffs and has reiterated his threat of a "reciprocal tariff" on the country, raising concerns over possible trade war.
BUSINESS
Government in 'wait and watch mode' as markets continue to tumble
With the Sensex down over 12,700 points from its peak, there is growing clamour for a cut in or even abolishing of capital gains tax, but the government is expecting the fall in the equity markets to end in the next six weeks or so. It is unlikely to intervene currently as markets are falling because of global uncertainty.
INDIA
Kumbh Diary: Prayagraj – an overnight megapolis for those seeking an eternal experience
This Maha Kumbh has seen more than 50 crore visitors, more than the population of the world, if one leaves India and China aside. The city is a heady mix of the old and the new, with devotees and tourists alike washing themselves of sins and searching of Moksha.
BUSINESS
Government set to hike deposit insurance to Rs 8-12 lakh by end of February
A proposal to increase the insurance cover for bank deposits to Rs 8-12 lakh from the current Rs 5 lakh is in final stages, and could be announced as early as end of February.
WORLD
Modi-Trump camaraderie to Trump tariff threats; 'cant grudge Trump for removing immigrants': Government source
The Indian government is confident that the US rhetoric around tariffs won’t hurt India. With the strong relationship between Prime Minister Narendra Modi and US President Donald Trump, the Indian side is hopeful of progress on the India-US Free Trade Agreement. India is also open to reducing tariffs.
BUDGET
‘The new direct tax code bill will not have any new taxes, will be applicable from April’: Tuhin Kanta Pandey, Finance secy
Finance Minister Nirmala Sitharaman announced that the new income tax bill will be tabled in the Budget session of the Parliament- the bill will simplify the existing act and will not introduce any new taxes
BUDGET
PM Modi wanted a ‘pro-growth, pro-people and pro-taxpayer budget’: Finance secy
The Budget had to balance several imperatives but the Prime Minister was very clear that it has to be a taxpayer-friendly budget, Tuhin Kanta Pandey told Moneycontrol
BUSINESS
Full transcript: Finance Secretary Tuhin Kanta Pandey's exclusive interview with Moneycontrol
“ Make it a pro-growth, pro-people and pro-taxpayer budget. These were the overall guidance, says the Finance and Revenue Secretary.
BUSINESS
Being protectionist doesn’t benefit anyone: Finance Secretary
Tuhin Kanta Pandey’s remarks come at a time when the United States is intensifying its protectionist trade policies under former President Donald Trump.
BUSINESS
Tax cuts won’t be inflationary, fiscal consolidation path intact, says finance secretary
Rejecting the notion that the Budget is skewed towards either consumption or capital expenditure, Tuhin Kanta Pandey tells Moneycontrol that the government has ensured a balanced approach
BUSINESS
With fiscal support in Budget, hope RBI will act in tandem to boost growth: Finance secretary
Monetary and fiscal policies should not work at cross purposes but rather complement each other to ensure balanced economic growth, Tuhin Kanta Pandey told Moneycontrol in an interview.
BUSINESS
From PM Awas to Samagra Shiksha, Centre steps up vigil on schemes to spur utilisation, says Expenditure Secy
The expenditure secretary also backed the move to put conditions on the capex-linked loans given to states.
