Experts Financial News

Mint explains the budget’s many nuances and its potential long-term impact. The biggest concern was whether the central government’s policy choices could change after the electoral outcome. Over the years, it had worked hard to improve spending efficiency by cutting back on revenue expenditure and focusing on capex which had a greater multiplier effect.

Mint explores the details of VCCs and how they are likely to be attractive to overseas investors. Unlike typical funds where investors share risks and rewards uniformly, a VCC allows for sub-pools with different investment objectives, investors, and asset classes, all governed by the same board and managed by a single fund manager, custodian, auditor etc. Under the current Securities and Exchange Board of India (Sebi) and International Financial Services Centres Authority (IFSCA) regulations, an AIF may be set up as a trust, an LLP or a company.

Mumbai: India’s latest union budget had a rude shock for foreign investors because their tax liability on capital gains in the country will surge across asset classes, experts said, which is likely to make them weigh the impact of the move before investing in the country. The biggest hit will be on foreign direct investments (FDI) in compulsorily convertible debentures (CCD), where the income tax rate on capital gains has gone up to 35% from 10%. Earlier, gains on unlisted CCDs held directly by foreign companies for more than three years were treated as long-term capital gains (LTCG) and taxed at 10%.

The BSE Sensex fell 280 points, or 0.35%, to settle at 80,149. The broader NSE Nifty declined 65 points, or 0.27%, to end at 24,413.

Goods and Services Tax) GST. This relief comes in the form of a conditional scheme that allows for the waiver of interest and penalty for specified non-fraudulent GST demand notices for the financial years 2017-18 to 2019-20.

CrowdStrike software update that crashed computers globally last week hitting services from aviation to banking and healthcare was caused by a bug in the U.S. cybersecurity firm's quality control mechanism, the company said on Wednesday.

Mexican officials say an explosion and fire erupted inside a tequila factory, killing at least five workers and injuring two others at the site in the liquor’s namesake town in Jalisco state

Ajit Ranade: An overdue pivot to human capital and employment There was also a reference in the budget speech to the need to simplify rules for FDI and ODI, and to promote the Indian rupee as a currency for overseas investment. While the FDI and ODI policy has been liberalised over the years, including through notification and regulations announced in August 2022, some aspects remain grey, such as whether portfolio investments are indeed permitted or not under ODI. Also, some substantive aspects (and indeed, procedural aspects) are difficult to deal with at the ground level, and one hopes that these will be addressed expeditiously.

MRF will likely remain in focus today as the company along with its Q4FY24 results, declared a dividend of Rs 194 per share for its eligible shareholders. The company had fixed July 25 as the record date for this purpose, according to StockEdge data. This means that today is the last date to buy the shares of the company in order to be eligible for the dividend payment.

Luxury products such as watches, handbags, and high-end televisions are set to get costlier with the government proposing to levy 1% tax collected at source (TCS) on notified goods of value priced at more than ₹10 lakh. The tax is, however, unlikely to dent demand as these products are largely bought by well-heeled consumers, according to retailers and market experts.

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.

MUMBAI : Union finance minister Nirmala Sitharaman on Tuesday stressed on the importance of strengthening the insolvency tribunals and increasing their numbers to speed up the insolvency resolution process. “Appropriate changes to the Insolvency and Bankruptcy Code (IBC), reforms and strengthening of tribunals and the appellate tribunal will be initiated to speed up insolvency resolution. Additional tribunals will be established.

fiscal prudence path, said experts on Tuesday. According to the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman, the total expenditure in Budget Estimates (BE) 2024-25 is estimated at Rs 48,20,512 crore of which total capital expenditure is Rs 11,11,111 crore.

Nirmala Sitharaman of a scheme for providing internship opportunities in 500 top companies to one crore youth over five years lays the foundation for a future-ready workforce, creating a pool of skilled professionals in tune with industry demands, said experts.

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.

The Telegraph report, citing Dr Rachel Ann Hauser-Davis, a British scientist and member of the research team said the results showed “chronic exposure due to human use of cocaine in Rio de Janeiro and the discharge of human urine and faeces by sewage outfalls, as well as from illegal labs."She also told The Telegraph that there usually aren't many bales of coke dumped or lost at sea in Rio de Janeiro, unlike in Mexico and Florida.Dr Rachel said the cocaine was probably harmful to the health of the animals, however, it is not known if it affected their behaviour, rendering them more aggressive and unpredictable or making feeding frenzies more likely.“This may be the case, as cocaine targets the brain, and hyperactive and erratic behaviour has been noted in other animals. It’s a possibility and further studies are required," said Dr Enrico Mendes Saggioro, an ecotoxicologist from the Oswaldo Cruz Institute.One of the ways cocaine may damage the health of sharks, according to the experts, is by affecting their eyesight, affecting their capacity to hunt.“You might start to see lower fecundity and growth rates," Dr Tracy Fanara, an expert in ecotoxicology and environmental engineering from the University of Florida, told The Telegraph.

Shauna Sharpes doesn’t travel and grows much of her own food at her home in western Washington state. The payroll manager for a local Native American tribal authority has meager savings and expects she will have to keep working for at least the next decade. Part of her challenge: She turned 60 in January, putting her at the tail end of a baby boom generation that is hurtling toward retirement age in uncertainty.

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%.

Budget 2024 day. The Nifty future closed negative with losses of 0.05% at 24,517 levels on Monday. India VIX was up by 4.18% from 14.82 to 15.44 levels.

mutual funds have offered returns up to 47% since the interim budget presented by the Finance Minister Nirmala Sitharaman on February 1, 2024. There were around 474 equity mutual funds in the said period.

large language models (LLMs) such as Sarvam’s OpenHathi and Ola’s Krutrim. This even as their global counterparts like OpenAI’s GPT-4o and Meta’s Llama have started showing enterprise grade support for Hindi, Marathi, Kannada and other Indian languages across text and voice.