India Financial News

23.07 / 13:19

markets UPS FIVE CEO Strategy Parke Experts Union Budget 2024: REITs to become more appealing to investors as holding period for long-term capital gains reduced

liquidity as the budget proposed to reduce the holding period for long-term capital assets from 36 months to 12. This policy change makes REITs more attractive to investors by offering quicker access to favourable tax treatment on capital gains. The reduced holding period lowers entry and exit barriers, making investments in REITs more appealing and dynamic.

23.07 / 13:17

security Sustainability WhatsApp wellness Inside Major fire on merchant navy ship off Karnataka coast doused: Coast Guard

fire that broke out on July 19 on a merchant navy ship off the Karwar coast has been doused and efforts are underway to ensure the affected vessel remains in deep sea considering the grave threat posed to the coastline, the Coast Guard said on Tuesday. «The vessel is presently 13 nautical miles west of New Mangalore and heading towards open sea,» the ICG stated in a release.

23.07 / 13:10

COST Provident Digital information Courts Budget: eCourts project gets Rs 1500 crore; digitisation records part of initiative

eCourts project's third phase, which seeks to upgrade the digital infrastructure of the lower judiciary, has been allocated Rs 1,500 crore in the Union Budget 2024-25. In September last year, the Union Cabinet had approved the third phase of the eCourts project as a central sector scheme with a financial outlay of Rs 7,210 crore.

23.07 / 13:09

markets Target security Research Trade band Rupee settles at record closing low as equity tax hikes hurt sentiment

capital gains from equity investments and on equity derivative trades hurt market sentiment. The rupee ended slightly lower against the U.S. dollar at 83.6875, its weakest ever closing, after having slipped to a record low of 83.7150 earlier in the session.

23.07 / 13:04

UPS Provident wellness 2020 Updates orienteering Budget 2024: New income tax slabs, capital gains tax, key tax changes that impact salaried, other taxpayers

Budget 2024 presented today by the finance minister Nirmala Sitharaman, will impact the personal finance of individuals in multiple ways. Here's a round-up.

23.07 / 13:02

security Analysis Hacking fund Customer Industry experts analyse WazirX hack: Lessons and future steps for India’s crypto ecosystem

security breach, resulting in a loss of over $230 million. This incident, the largest of its kind in India to date, has prompted a thorough examination of security measures and investor protections within the burgeoning crypto ecosystem. To dissect the implications and learnings from this event, a panel discussion was held on ETMarkets live stream with industry veterans Dilip Chenoy, Chairman of the Bharat Web3 Association; Ashish Singhal from CoinSwitch; Sumit Gupta from CoinDCX; and Edul Patel, from Mudrex.

23.07 / 12:59

Target Research Universities Department Budget 2024: Agri-research? Yes, but where is the money?

₹9,941 crore (budget estimate or BE) for 2024-25. This is barely any improvement over the ₹9,877 crore spent in 2023-24 (revised estimate or RE). The budget for apex research institutions which include the Indian Council for Agricultural Research (ICAR), central agricultural universities and the National Academy for Agricultural Sciences (NAAS) is ₹7,103 crore for 2024-25, lower than the ₹7,248 crore spent last year.

23.07 / 12:12

markets Citi Provident Target economy Enterprise Healthcare Insights into India's Budget 2024: Key Themes and Sectors to Watch

$7 trillion economy by 2030. Will this year’s budget emphasize social spending while reviving the rural economy and facilitating job creation?As we approach Budget 2024, anticipation is high regarding what will be the government's focus and what could be potential beneficiary sectors.

23.07 / 11:52

COST UPS Provident Manufacturing Bill Mint Quick Edit | Employment-linked incentives are an odd way out

₹15,000—from the government, which will also give a cash incentive to employers and employees for their contributions to India’s state-run provident fund (PF) scheme. Further, the PF contribution of employers will be reimbursed up to ₹3,000 per month over two years for each additional employee hired. Broadly speaking, this proposal seems modelled on the production-linked incentive (PLI) scheme run by the Centre for manufacturers.

23.07 / 09:14

Election performer Budget 2024: The math of how the Centre will cut its fiscal deficit, explained

Data explainer: Why the Union budget can do only so much In the wake of an unexpectedly poor performance in the General Election, the government loosened its purse strings by announcing a higher revenue expenditure—funds allocated for day-to-day operations—raising it to 11.4% from the 11.2% projected in the interim budget. Capital expenditure, the second major component of spending, will rise to 3.4% of GDP from 3.2% in FY24.

23.07 / 09:12

markets Art Opinion Instagram show Videos Relationships Dating coach says Indian men are unromantic & egotistical, video goes viral

Chetna Chakravarthy has washed her hands off Indian men. The dating coach recently created a mini uproar on Instagram when she revealed that she was no longer interested in dating desi men.

23.07 / 09:03

markets CEO economy wellness folk Schools rights Budget's focus on real economy to turbocharge economic growth: Nilesh Shah

«I think the STT on F&O is a step in the right direction. If the idea is to essentially curb volumes on the F&O side I think that is fair enough. I am just saying is that for a long-term investor, there is STT, there is a hike in LTCG, and there is a tax on dividends as well,» says Nilesh Shah, MD & CEO, Envision Capital. You are unhappy for sure. Nilesh Shah: I think logically, rationally, who is going to be happy with more taxes? We are all humans at the end of the day. But if the capital gains tax was hiked, STT is hiked, probably dividends, tax on dividends in the hands of the investors that should have been done away with because that is double taxation.

23.07 / 09:00

markets COST security country Updates International Gold plunges Rs 2,400/10 gram after FM cuts customs duty on bullion

gold and silver to 6%, bullion prices fell sharply on Tuesday. While the August gold futures fell 3.4% or by Rs 2,468 per 10 gm to hit the day's low of Rs 70,250, silver September futures on the MCX tanked by Rs 3,200 per kg or 3.6% to hit the intraday bottom of Rs 86,000. The reaction was triggered by Finance Minister Nirmala Sithraman’s announcement about the cuts in her Budget speech. She presented her seventh Union Budget on Tuesday.

23.07 / 08:48

markets EBAY President Xiaomi country 2020 Videos Sushant Sreeram quits Prime Video, set to join JioCinema

Sushant Sreeram has quit as Prime Video India country director and is set to join Viacom18-owned JioCinema as chief marketing officer (CMO), sources privy to the development told ET.

23.07 / 08:41

markets FIVE Aviat country Updates boating India Budget 2024: Incentives announced to boost MRO activities in aviation, shipping sectors

Nirmala Sitharaman announced incentives to boost maintenance, repair and overhaul activities in aviation and shipping sectors during the budget speech on Tuesday. India is one of the fastest growing domestic aviation markets in the world.

23.07 / 08:24

UPS Target Election Trade electronic Budget 2024: Capital goods stocks tank up to 8% after Sitharaman makes no change in capex

Capital goods stock plunged up to 8% on BSE in Tuesday's trade after the Union Finance Minister Nirmala Sitharaman proposed to maintain the capital expenditure target at Rs 11.11 lakh crore for this fiscal year as announced in the interim budget in February. While announcing the interim Budget ahead of the Lok Sabha elections, India had proposed boosting the capital expenditure target by 11.1% to record Rs 11.11 lakh crore for fiscal year 2025, banking on its huge multiplier impact on economic growth and employment creation.

23.07 / 08:24

markets Provident President electronic innovations reports Schools Paytm partners with Axis Bank to provide payment solutions for merchants

Paytm, has partnered with Axis Bank to offer point-of-sale (PoS) solutions and Electronic Data Capture (EDS) machines to the bank and its merchant network.

23.07 / 08:24

markets WhatsApp Trade show Updates Havells India shares drop 2.06% as Sensex falls

Havells India Ltd. traded 2.06 per cent down at Rs 1732.1 at 01:39PM (IST) on Tuesday, even as BSE benchmark Sensex dropped 517.86 points to 79984.22. The stock had settled at Rs 1768.55 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 1986.55 and Rs 1233.1, respectively.

23.07 / 08:23

markets COST Target economy Election Modi pledges $24 billion for jobs, financial aid for allies in Budget 2024

Narendra Modi pledged 2 trillion rupees ($23.9 billion) to boost jobs and improve education in India, increased spending to his new allies, while also targeting a smaller fiscal deficit for this year. The government will focus on employment, skilling, small businesses and the middle class in the fiscal year through March 2025, Finance Minister Nirmala Sitharaman said in her budget speech Tuesday. She announced a number of employment-linked incentives for businesses to help spur jobs.

23.07 / 07:16

markets COST Yellow Experts Bottomline Gold and silver to become cheaper, customs duty cut to 6%

Budget 2024 proposes to cut the customs duty to 6% on Gold and Silver. Moreover, the finance minister has also proposed to reduce customs duty on platinum to 6.4%.

23.07 / 07:06

UPS Target Gap wellness Budget 2024: Sitharaman sticks to fiscal prudence, lowers fiscal deficit target to 4.9%

Fiscal Deficit Target: Aiming to reach a fiscal deficit level below 4.5 per cent of the GDP by 2025-26, Finance Minister Nirmala Sitharaman has lowered the fiscal deficit target for 2024-25 to 4.9, well below the 5.1% budget gap pegged in Interim budget for this fiscal year.

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