India Financial News

capital gains tax across asset classes has a positive effect in three areas. One, it lowers arbitrage among asset classes, such as equities, real estate and gold for household savings. Two, it addresses the differential in effective tax rates on labour and capital. And, three, it allows government tax revenue to grow without unduly affecting economic productivity. All these have long-term effects on economic growth and redistribution by influencing behavioural changes towards work, savings and risk-taking. The move also lowers the likelihood of asset price bubbles by encouraging freer capital movement. The markets have, thus, taken the changes announced in the budget in their stride, and the anticipated turbulence was weak and short-lived. Further steps to harmonise the tax treatment of capital gains are likely to be met with less anxiety by investors.

one Gaganyaatri from ISRO will undertake space travel to ISS", Singh said in the written reply. " This is a collaborative effort of ISRO, NASA, and NASA-identified private entity, i.e. Axiom Space.

Modi and Vladimir Putin. America is deep in the throes of election politics — Donald Trump's escape from near-death, Joe Biden's exit and Kamala Harris' entry into the presidential race are dominating the headlines. Tempers have calmed somewhat but all is not well in the realm.

Trinamool Congress leader Abhishek Banerjee on Wednesday launched a strong attack on the Modi government, alleging that the Union Budget lacks clarity or vision, it has been rolled out to satisfy the coalition partners of the BJP and that it «was planned by two individuals to keep another two in good faith».

Economic Affairs Secretary Ajay Seth on Wednesday said the Budget has assumed a reasonable nominal GDP growth rate of 10.5 per cent as higher assumption could have led to a larger fiscal deficit. «As far as the current year is concerned, fiscal prudence places the demand on us that we are realistic or a bit conservative in assuming what the potential revenues may be while at the same time provide adequate provisions for productive priorities of the government. That is what this Budget does,» he told PTI in a post-Budget interview.

Reserve Bank of India, the Supreme Court on Wednesday stayed a Madras High Court order asking it to determine the value of shares, assets and investor bonds of the cash-strapped Lakshmi Vilas Bank (LVB) and the Indian subsidiary of DBS Bank of Singapore. The merger proposal of LVB and DBS Bank India Limited (DBIL), the Indian arm of the Singapore Bank, was approved in 2020.

Guwahati: What is indicating at growing influx six more Bangladesh nationals arrested by the security forces in Tripura.

Manipur High Court has directed the Manipur government to withdraw the long-pending criminal cases against three former cadres of the Mizo National Front (MNF).

World Expo 2025 in Japan. The World Expo, similar to the one held in Dubai in 2020.

industry leaders, aimed to discuss the new government's budgetary plans.

Kharge on Wednesday said Bihar and Andhra Pradesh got «pakoda and jalebi» on their plates while other states got nothing as he raised the issue of alleged discrimination meted out to opposition-ruled states in the Union Budget. Engaging in raillery and hurling barbs at Finance Minister Nirmala Sitharaman in the House, the Congress veteran called Sitharaman «mataji» and said she is an expert in speaking, prompting Chairman Jagdeep Dhankhar to quip that she was more like his daughter.

West Bengal Assembly on Wednesday passed a resolution on NEET-UG after discussion on Wednesday. The ruling Trinamool tabled a resolution on the NEET-UG issue on Tuesday. Calling it the biggest education scam, the ruling Trinamool government proposed that a separate Joint Entrance-Medical, which was earlier conducted by the state government, be started again.

Nita Ambani, a renowned philanthropist and founder of Reliance Foundation, has been unanimously re-elected as a member of the International Olympic Committee (IOC) from India at the global olympic body's 142nd session in Paris.

Jammu and Kashmir, the India-Pakistan border, and parts of central and eastern parts of the country where Naxalites are active. In a revised travel advisory for India, the State Department said it has updated to reflect information on the northeastern states.

budget proposals to facilitate employment and skilling have boosted sentiment but are likely to translate into sizeable numbers only in the medium to long term, rather than triggering any major turnaround in the job market in the near future, said economists and hiring experts.

India on Wednesday successfully flight-tested Phase-II Ballistic Missile Defence System from off the Odisha coast, the government said in a statement. The test demonstrated India's indigenous capability to defend against ballistic missiles of 5,000 km class, it said.

RBI on Wednesday said it has cancelled the licence of Tezpur-based The Mahabhairab Cooperative Urban Bank due to its deteriorating financial condition. Following the cancellation of its licence, the cooperative bank ceases to carry on banking business, with effect from the close of business on July 24, 2024.

Federal Bank on Wednesday reported a 18.3% year-on-year jump in net profit for the first quarter at Rs 1010 crore, buoyed by steady business expansion and core income growth. The bank's operating profit stood at Rs 1,501 crore for the quarter, reflecting a 15.3% rise.

index globally driving down Emerging market currency and likely equity outflows. The local currency ended the day at 83.7175/$1,its weakest closing level and marginally weaker than its close of 83.6875/$1 in the previous session, LSEG data showed.

Union Budget and said it reveals their political frustration and negative attitude towards «some backward states» that need special focus and assistance for development. The BJP's reaction comes against the backdrop of the Congress and other constituents of the opposition INDIA bloc accusing the government of presenting a «discriminatory» budget towards opposition-ruled states after Finance Minister Nirmala Sitharaman made a host of budgetary announcements for Andhra Pradesh and Bihar on Tuesday.

space sector has immense economic potential, likely to be worth Rs 35,200 crore, about 8% of the global share by 2033. On 23 July, the Finance Minister announced the creation of a dedicated “space fund” worth Rs 1,000 crore, aiming to boost India’s space economy, attract investment and in the global space industry. According to Mr. Pawan Goenka, IN-SPACe Chairman, the fund is expected to be a professionally managed entity that supports space businesses. India has showcased on the global stage its ability to innovate on a frugal budget, fulfilling the Chandrayaan-3 mission at a cost that was merely 3% of the Russian moon missions. This Budget proposal signals the Government’s intent to give a fillip to the Indian space sector by providing financial support, mentorship and guidance to emerging space startups. The establishment of the space fund marks the next step in a successful PPP collaboration aimed at advancing the technology essential for India's success in this field.