India Financial News

Economic Survey FY24, prepared by the Department of Economic Affairs, cast worries over artificial intelligence possibly impacting workers across skillsets and thereby affecting India's economic growth rate.

Mint, he also talked about efficient ways to increase the number of taxpayers in India. Here are some edited excerpts: The default (new) regime, which offers concessional tax rates on total income, without deductions and exemptions, will make both tax compliance and tax administration simple. It will also ensure consistency and certainty.

Gautam Gambhir's plain-speak and Ajit Agarkar's lucidity is set to make for a heady combo as the new head coach and the chairman of selectors looked completely in sync while spelling out, in no uncertain terms, that days of cherry-picking series by citing workload management could be over. They explained certain tough calls while in a few things, they were subtle yet said enough to allow people to read between the lines.

Power and Instrumentation(Gujarat)Ltd.(up 5.00%), Voltamp Transformers Ltd.(up 4.76%), India Power Corporation Ltd.(up 3.66%), Inox Wind Energy Ltd.(up 2.84%), NTPC Ltd.(up 2.43%), Tata Power Company Ltd.(up 2.40%), SJVN Ltd.(up 2.33%), Power Grid Corporation of India Ltd.(up 1.93%), RattanIndia Power Ltd.(up 1.58%) and Transformers & Rectifiers(India)Ltd.(up 1.55%) stood among the top gainers.

Stallion India Fluorochemicals has received Sebi's go-ahead to raise funds through an initial public offering (IPO), an update with the markets regulator showed on Monday. The proposed IPO comprises a fresh issue of up to 1.78 crore equity shares and an offer-for-sale (OFS) component of up to 43.02 lakh shares by its promoter Shazad Sheriar Rustomji, as per the Draft Red Herring Prospectus (DRHP). Proceeds from the issue will be used towards funding working capital requirements, capital expenditure for its proposed facilities in Maharashtra and Andhra Pradesh, and general corporate purposes.

BigBloc Construction on Monday said its board has approved the issue of one bonus share for every equity share held by shareholders. The board of directors in its meeting on July 19 recommended the issue of bonus equity shares in the proportion of 1:1, that is, one bonus equity share for every existing equity share held by the company shareholders as on the record date, the company said in a filing. During the day, shares of the company soared to 7 per cent to hit Rs 284.90 apiece on the BSE.

Dodla Dairy Ltd.(up 7.29%), Parag Milk Foods Ltd.(up 4.93%), Zydus Wellness Ltd.(up 3.48%), Heritage Foods Ltd.(up 3.24%), Hindustan Foods Ltd.(up 3.17%), Tata Consumer Products Ltd.(up 1.42%), Bikaji Foods International Ltd.(up 1.37%), Godrej Consumer Products Ltd.(up 1.26%), Adani Wilmar Ltd.(up 1.24%) and Nakoda Group Of Industries Ltd.(up 1.23%) stood among the top gainers.

urbanization, the housing industry is poised for significant transformation as half of India's population is projected to live in urban areas, up from 31% in 2011, said the Economic Survey for 2023-24.

health and economic outcomes, the survey underscored that mental health issues can have broader impacts on productivity across society than physical health ailments.According to data from the National Mental Health Survey (NMHS) 2015-16, 10.6 percent of adults in India suffer from mental disorders, with a significant treatment gap ranging from 70 to 92 percent for different disorders. Urban metro regions reported a higher prevalence of mental morbidity at 13.5 percent compared to rural areas (6.9 percent) and urban non-metro areas (4.3 percent).Economic Survey 2024 Live UpdatesThe survey also noted ongoing research indicating that individuals aged 25-44 years are most affected by mental illnesses.

China plus one: Will the dragon now make way for the elephant? As such, many small chemical producers shut down. For bigger companies, costs shot up and approvals took much longer. Many of these companies were catering to global demand, but the government’s tough measures caused the supply of several critical chemicals to dry up.

Taarak Mehta Ka Ooltah Chasma’ star Gurucharan Singh, who created quite a furor by going missing for 25 days earlier this year, finally spilled the beans on the mystery behind his disappearance.

BENGALURU : One of India’s earliest edtech companies, iNurture, is in talks with Dubai-based Kimera Investment to raise capital to stave off a potential crisis that could leave about 500 employees and thousands of students stranded. iNurture, which partners with universities to offer specialised courses and skill-development programs, is facing a shortage of funds and has failed to pay salaries to its employees and faculty, according to employees and faculty members. As a result, teachers have either quit or stopped teaching, leaving students who have enrolled for iNurture courses across universities stranded.

5G networks in the world, and post-the launch of 5G services, India's international rank on mobile broadband speeds has improved from 118 to 15 in March 2024, the Economic Survey 2023-24 said Monday.

Market veteran Madhu Kela feels that the one engine of the economy of India doing well is the stock market. It is aiding a lot of capital formation. There has never been a healthier situation for the government. Today, if the government wants to raise even Rs 1 lakh crore, they have to only sell 2-3% of the PSUs and that can give them fiscal space of maybe 0.3-0.4%. There are lots of levers. Why will they want to kill the market? The taxation is not low. When long-term capital gains or short-term capital gains tax is combined with dividend distribution, buyback taxation, STT, and income tax, it is not low and there is a marginal tax on F&O already. The most important point in the mind of the market right now is in the Budget tomorrow, especially in the backdrop of so much commentary coming in that regulator is saying mutual funds are taking away the bulk of deposits from the banking. The regulator, SEBI, is sounding worried about rising speculation on the F&O side. The market is expecting some move in the Budget to curb that. Is it justified to expect some move? Madhu Kela: Not a question I would have loved to start with.

budget for the financial year 2024-25. ETMutualFunds reached out to financial advisors about what mutual fund investors can expect from the Finance Minister and what changes they should make in their investment strategy.

Chinese challenge. The Economic Survey has called it the Chinese Conundrum. The Survey highlights that it would be wrong to presume that India will automatically take over the manufacturing space vacated by China due to changes in global supply chains.

fiscal deficit is expected to drop to 4.5 per cent of GDP or lower by fiscal 2026, according to the Economic Survey 2023-2024.

JSW Steel fell by 2.5% to its day’s low of Rs 866 in Monday's early trade on BSE after the company reported a 64% decline in its consolidated net profit at Rs 845 crore in the first quarter. The profit missed the Street estimates of around Rs 1,254 crore. Revenue from operations in the June quarter, however, increased 2% year-on-year (YoY) to Rs 42,943 crore.

Economic Survey 2023-24 tabled by Finance Minister Nirmala Sitharaman in Parliament on Monday.