BUSINESS
MC Interview | For telcos to make capex, they must generate returns: Jyotiraditya Scindia on tariff hikes
Union Communication Minister Jyotiraditya Scindia says that Indian mobile tariffs remain the lowest in the world, outlines the government's plans for the telecom sector and how India's 4G Stack can be an alternative to Chinese tech globally in an exclusive interview to Moneycontrol.
BUSINESS
India's telecom tech stack to provide an alternative option to the world: Jyotiraditya Scindia
The home-grown tech option could be launched by the middle of next year, the telecom minister said
INDIA
Govt won't interfere in Vodafone Idea's affairs, says telecom minister Scindia
On competition in the Indian telecom market, Scindia said the country has four operators, which is a "decent amount compared to global markets. We are comfortably placed in terms of structure."
INDIA
India’s 4G stack can provide an alternative to Chinese tech globally: Jyotiraditya Scindia
Jyotiraditya Scindia reiterated the need to be ‘Aatmanirbhar’, and said that India’s Indigenous 4G stack could be an alternative to Chinese technology.
BUSINESS
Banks to offer loans to Jan Dhan beneficiaries by tracking digital footprint: DFS secretary to Moneycontrol
The secretary noted that the government was also working towards linking more services with banking.
BUSINESS
Is E-Commerce hurting small biz? Political Economy with Arvind Singhal
Is the rise of e-commerce in India -a matter of concern? Minister Piyush Goyal’s remarks on the growth of e-commerce sector as a concern and not to be proud of has raised questions around predatory pricing by e commerce majors, its impact on small retailers and the entrepreneurial spirit of India. In conversation with Arvind Singhal, Chairman and MD, Technopak
BUSINESS
Full Transcript: Moneycontrol's exclusive interview with JP Morgan's Jahangir Aziz
Aziz says that in 2025, there are expectations of an increase in growth rate in the US because of the policy actions taken in the second half of this year from the lows of the first half of this year.
BUSINESS
Trump 2.0 can pose greater challenges for India: JPMorgan's Jahangir Aziz
Donald Trump's plan of imposing 60 percent tariff on Chinese imports into USA may also emerge as a challenge for India.
BUSINESS
Expecting an uptick in US growth rate in 2025, says Jahangir Aziz of JPMorgan
On rising concerns over the possibility of a recession in the world’s largest economy, Aziz says that he is looking at an uptick in the growth rate in the US in 2025.
POLITICS
Inside the SEBI-Hindenburg saga | Political Economy
A new report by Hindenburg research alleges the SEBI Chairperson Madhabi Puri Buch and her husband Dhaval Buch had stakes in offshore funds used allegedly for siphoning of money by Vinod Adani, brother of Gautam Adani, to manipulate the financial markets. The report led to a political slugfest with the opposition asking for a Joint Parliamentary Committee probe into the issue. We decode the allegations and the response by Madhabi Puri Buchi and SEBI. Shweta Punj and N Mahalkashmi of Moneycontrol discuss with Vikas Khemani, founder, Carnelian Asset Management the veracity of the allegations.
BUSINESS
Relief for property owners: Centre moves amendment for indexation proposal on real estate, will offer options to taxpayers
Indexation adjusts the purchase price of an asset for inflation, thereby reducing the gains and, ultimately, the tax liability.
BUSINESS
Give choice between old and new LTCG regime, remove GST on life and health: Jayant Sinha
Despite government's best efforts, there are 'actors' in the system who are not well-intentioned, and that ends up with very aggressive tax demands which is unnecessary, former NDA cabinet minister Jayant Sinha told Moneycontrol.
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
Budget 2024: Government not taxing proceeds in case they are invested in another house, says revenue secretary
On the increase in LTCG, STCG and removal of indexation benefits for real estate, revenue secretary Sanjay Malhotra told Moneycontrol that the measures are for simplification and if you are selling a house to buy another house, then you are exempted from the tax
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
RBI vetting process for IDBI Bank stake sale in advanced stage, says Dipam Secy
The Centre, which owns a 45.48 percent stake, and LIC, with 49.24 percent, together plan to offload 60.7 percent of their holdings in in IDBI Bank
BUSINESS
Finance Secretary TV Somanathan confident nominal GDP growth is unlikely to be below 10.5%
Finance Minister kept the nominal growth target unchanged at 10.5% for 2024-25, finance secretary, TV Somanathan in an interview to Moneycontrol said he expects real growth between 6.5-7 % for FY 25
BUSINESS
Cannot become Viksit Bharat without taxing capital gains appropriately: Fin Secy Somanathan
In what may be indicative of the government's stance on the capital gains tax regime going ahead, Somanathan said, "earners of capital gains are not poor and we will keep taxing them at a decent rate."
ECONOMY-2
Govt allocates Rs 10,000 crore for a stabilisation fund in Budget
The Budget allocated a whopping Rs 10,000 cr for interventions and monitoring of prices of essential commodities-anticipating high food inflation
BUSINESS
MGNREGA gets a higher outlay of Rs 86,000 crore in Budget 2024-25
The flagship scheme for rural employment, MGNREGA has been allocated Rs86,000 cr , up from budget estimates of Rs 60,000 cr in 2023-24, same as the interim budget
BUSINESS
Budget keeps allocations for PM Kisan, Fasal Bima schemes unchanged despite focus on farm growth
Farm focused budget skips on increasing cash transfers to farmers
