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dividend from October 1 and is expected to increase the tax burden on investors. In her Budget 2024 speech on Tuesday, Finance Minister Nirmala Sitharaman announced about the move which the industry sees as counterproductive. «For reasons of equity, I propose to tax income received on buy back of shares in the hands of the recipient,» Sitharaman said.

Mint earlier reported that the budget may introduce digital cards for farmers with geo-tagging, containing their land details. These actions will facilitate credit flow and other agricultural services, as per the finance minister's budget speech. The linking of land and farmer registries to help credit flow into agriculture aligns with the suggestions made by chief economic advisor V.

Finance Minister Nirmala Sitharaman made no announcements regarding crypto taxes in the Budget, which the crypto industry views as a missed opportunity to support crypto startups and investors. «We had hoped the government would reduce taxation to align it with other asset classes. Unfortunately, this has not been addressed, representing a missed opportunity to support startups and investors in the crypto space,» said Ashish Singhal, Co-founder of Lemonn and CoinSwitch.

loans of up to Rs 10 lakh for higher education in domestic institutions, the government will provide financial support, announced Finance Minister Nirmala Sitharaman on Tuesday during the presentation of the Union Budget 2024-25. She added that every year, around 1 lakh students will benefit from this through direct e-vouchers that will be distributed to the them with interest subvention of 3 per cent of the loan amount.

trailer for the penultimate episode of House of the Dragon Season 2 has been released, offering a glimpse into the intense events awaiting viewers. Following the tragic death of Rhaenys and her dragon Meleys at the Battle of Rook’s Rest, Queen Rhaenyra faces significant challenges.

After nearly three decades in the advertising, media, and marketing industries, Dalveer Singh, 55, is preparing for a quieter retirement away from Mumbai's hustle and bustle.

40 Under Forty. The panel, moderated by Amit Jain, managing director Carlyle India Advisors, and comprising past and current A-listers of the ET 40 Under Forty, laid threadbare the fundamental tenets of leadership and how it is evolving in a volatile and disruptive world while ensuring generational diversity.

Graphite is the first mineral Coal India Limited (CIL) will diversify its operations beyond coal, following an order from the Ministry of Mines granting the company a composite license for prospecting and mining. This license pertains to the Khattali Chhoti Graphite Block in Alirajpur, Madhya Pradesh. «This is the first mineral other than coal for us,» Debasish Nanda, Director of Business Development at Coal India, told PTI. CIL is required to pay a mining premium of 150.05 per cent of the value of minerals dispatched to the state government.

FMCG major Godrej Consumer's advertising investment shot up by 47 per cent to Rs 1,011 crore in FY24 in the domestic market, even as it has reduced SKUs by around 30 per cent through a rationalisation process. Godrej Consumer Products Ltd (GCPL), which aims for double-digit volume growth, is spending more on brands, automation and SKU rationalisation with a «keen focus on simplification», according to the latest annual report of the company. «In line with our strategy of category development, we have made significant investments in advertising. We were the fifth largest advertiser in India in 2023, from being number 17 in 2021. We are adding to this with investments in distribution,» GCPL Managing Director and CEO Sudhir Sitapati said. GCPL's spending on 'Advertising and Publicity' was Rs 1,011 crore for the financial year ended March 2024. This was 47 per cent higher than Rs 687.34 crore a year before.

Vedanta Limited raised Rs 8,500 crore (over USD 1 billion) through Qualified Institutions Placement (QIP) of 19.31 crore equity shares at an issue price of Rs 440 per share, according to a stock exchange filing by the company. The issue, which closed on July 19, implied a discount of 4.61 per cent to the floor price of Rs 461.26 per equity share. In a stock exchange filing, Vedanta said it sold 19.31 crore shares to raise Rs 8,500 crore.

Airbus will launch its first assembly line for the single-engine H 125 helicopter in India, Sunny Guglani, head of Airbus Helicopters in India and South Asia said. «The plan is to have the first Made-in-India H125 rollout of the assembly line in 2026 that's the plan we're working with TATA,» Gugltold ANI. Guglani further stated, «This Final Assembly Line (FAL) will actually produce the H125, which will already be EASA-certified quality assurance, and the airworthy assurance is being taken care of by experts from airbus helicopters that will be located at the FAL site in India.»

Kevin Costner being on the verge of bankruptcy is somehow unbelievable but this has turned into a reality after the flop of 'Horizon: An American Saga' even after $38 million in investment. Since the flop project couldn't recover the money for Costner, his lavish apartment in Santa Barbara estate is now at risk. According to a Blast report, there has been a critical issue around his apartment and a delay in the future installments of the movie.

petrochemicals industry and boost the sector's growth. The minister was speaking after launching the 13th edition of the India Chem 2024 event to be held in October this year in Mumbai. «The Prime Minister desires that we have to become a USD 5 trillion economy. If we have to become a 5 trillion economy, we have to align our programmes or policies accordingly, to see to it that this petrochemical industry chemical industry also goes in the same way and aligns itself, so that we all together contribute to that USD 5 trillion economy,» Nadda said. The minister mentioned that industry representatives have talked about the challenges faced by the chemicals and petrochemicals industry and also offered various suggestions to address those issues.

Union Budget 2024: India's ambitious goal of becoming a developed country by 2047 closely aligns with the growth of its real estate sector. Thanks to its impressive economic surge in recent times, supported by the real estate sector's contributions to urban development, it is anticipated that by 2030, 40% of India's population will reside in urban areas. While other growth indicators are on the rise, India’s real estate industry will play a crucial role in achieving the country's sustainable development goals, given that it accounts for 8% of its GDP. Looking ahead, real estate could serve as the cornerstone of a resilient economy, around which all other factors would revolve.

DATE: 19 July, 2024

CW Advisors, a registered investment advisor based in Boston, has announced a new acquisition to expand its presence in New Jersey.

commercial property or to sell it and invest the proceeds in mutual funds and stocks for potentially higher returns. Madhu R, a 33-year-old investor with a risk appetite, purchased a commercial property for 60 lakh 2 years ago with a Rs 30 lakh home loan. The monthly EMI is Rs 29,647, while the rental income from the property is Rs 13,500. With the property value now at 85 lakh, Madhu is considering selling it to invest in mutual funds and stocks, aiming for better long-term returns and the potential to save on EMI payments.

Fibr, an artificial intelligence-powered personalisation platform, has raised $1.8 million in a funding round led by Accel. The round also saw participation from 2am VC and angel investors such as Cred founder Kunal Shah. Fibr will use the funds for enhancing its AI personalisation platform, expanding its customer base, and hiring talent including engineers, product marketers and sales and go-to-market (GTM) experts, top officials said.

State Street is reportedly evaluating the introduction of a stablecoin and deposit token to facilitate blockchain-based payments and settlements.

WGC) has made presentations to the Union finance ministry and Reserve Bank of India to come out with appropriate guidelines and regulatory framework for digital gold business in India. The council has asked the authorities to introduce checks and balances to ensure that the gold bought digitally by the customers is protected. It has also asked to put in place a transparent way to buy and hold gold digitally.