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«So, all of these contours or making India a product nation, these perspectives I think were very useful from the budget as well. Some of the clarity, the fleshing out of these medium-term plans should start becoming visible,» says Neelkanth Mishra, Chief Economist, Axis Bank. Let us just begin then with the overall outlook this time around with respect to the Budget and the finance minister clearly retaining the FY25 capex target at about 11.1 lakh crore rupees. How do you believe that one should be reading into the fine print? Neelkanth Mishra: This was the first budget of a new government, so there were two major asks from it or at least two major signals that we were all looking for. One was will the direction of the fiscal maths change? There was I think apprehension among some quarters that the government because of the election verdict would change its stance, so at least on the budget arithmetic it is very clear that the government sticks to the focus on macroeconomic stability on a very relentless focus on bringing down the cost of capital over the medium term and I think some of those changes will start becoming visible in the next year or two.

Japan’s government says it has protested against Russia’s announcement that it is permanently banning 13 Japanese citizens, mostly business leaders of prominent companies including Toyota Motor Corp., in retaliation for Tokyo’s sanctions over the Russi...

₹1,000 crore venture fund for startups will further give a fillip to the country’s promising space sector, encouraging deeper public-private relationships. Changes to the Insolvency and Bankruptcy Code (IBC) are on the cards, with the setting up of additional tribunals to tackle pending cases and enhance the speed of the resolution process.

On 3 July, the BSE Sensex, India’s most famous stock market index, crossed 80,000 points for the first time during the course of a day’s trading. On 4 July, the Sensex closed above 80,000 points for the first time. When you have followed the Sensex for as long as I have, such occasions lead to random thoughts—or what in slightly technical terms can be referred to as the benefits of experience.

U.S. customers who bought a new General Motors vehicle last quarter paid an average of just under $49,900, a price that helped push the company’s net income 15% above a year ago

The hurricane season roared into the U.S. with Hurricane Beryl hitting Texas in early July

Golden fields of wheat no longer produce the bounty they once did in Morocco

UPS managed to boost its volume in the U.S. for the first time since 2022 during its second quarter, but profit and revenue fell short of Wall Street’s expectations partly due to a hefty charge

«Now, whether the short-term capital gains tax, short-term transaction tax increase, will it necessarily act as a disincentive for speculative activity or not, obviously one measure is not adequate and if you are looking for gains in hundreds and 200% because of the embedded leverage in derivative assets, you are not going to be swayed by a small increase in the short-term transaction tax,» says V Anantha Nageswaran, CEA. Well, you pointed out in the Economic Survey that a lot of experimenting is happening as far as the investment in the stock market is concerned and today, we saw the LTCG and short-term capital gains, the tweak there. What is your thinking as far as, from here on the stock markets or investment in stock markets is concerned as far as this? V Anantha Nageswaran: Look, I mean, I am not in the prediction business for stock markets.

«See, in a country like India which is not a rich country, you have to continuously find avenues to tax and you have to use the tax revenues in the right way and continue the growth momentum and you have to ensure that jobs are created,» says S Naren, ED & CIO, ICICI Prudential AMC. What is your take on budget? S Naren: See, the government over the last decade has managed macro very-very well. Every year, they have looked and seen which are the areas where they can actually afford to increase taxation and not hurt the sectors. So, I think they have done a brilliant job if you look at it. The market can absorb it. Otherwise, the market reaction today would have been quite different, that is the reason why it is a great budget at this point of time.

fiscal prudence. The glide path 2026-27 onwards envisages fiscal deficits such that the percentage of government debt to GDP keeps falling. This is a very big and ambitious statement for a developing economy like India. These targets are being achieved without compromising on the quality of receipts and expenditures.

«So, to cut it short, my view is that I hope this is probably from here on is a stable tax rate. If that is the case, then markets in the past have also adjusted to new realities. It is not the extent, but it is more of the principle and I think as the late Rakesh Jhunjhunwala would say, ke paisa kamaya to tax dena padega. So, I think we will take it in that spirit for now and hope that from here onwards, the tax rates remain stable,» says Hiren Ved, Director & CIO, Alchemy Capital Management. Are you also feeling as unsettled that this may not be it and this could perhaps lead to more upping of taxes in the times to come? Hiren Ved: Well, I hope not. I want to be optimistic on that count that hopefully, this for whatever reason was well thought out and from here on there will be stability in tax rates and this is not something that I am saying, I think the government itself on several occasions have mentioned that you need stability in tax rates over the long term. So, my feeling is that they had to rationalise taxes on capital gains across assets and hopefully, they have done that. If you take STP cap gains and cess on that, we are already paying reasonable amount of tax and it is not as if that the government was in need of revenue as such.

The IRS has finalized its proposed 10-year RMDs rule for inherited retirement assets, and advisors say its NBD.

Kamala Harris is narrowly beating rival Donald Trump in a national presidential poll released Tuesday, one of the first conducted since US President Joe Biden ended his reelection campaign.

currencies touched multi-week lows on Wednesday tracking weakness in Chinese demand, while the yen has surged as short-sellers bail out ahead of a central bank meeting. Purchasing managers' index figures will be particularly watched in Europe later in the session to see whether they support bets on two European rate cuts by the end of January.

Brad Pitt and Tom Cruise, have been at odds for more than thirty years. When «Interview with the Vampire,» a 1994 movie, was being made, their long-standing competition started, and it soon became clear where they differed. Tom Cruise was very formal and friendly, whilst Brad Pitt was more quiet. Brad Pitt noted that their personalities were complete opposites. An industry source revealed that the enmity between them was so strong that it hindered them from collaborating after the confrontation, which caused a great deal of anxiety on set. The industry is aware of their mutual hate even if they have made an effort to hide it from the public, as per the reports of The Mirror.

nuclear war and a Hiroshima-Nagasaki crisis.

Tax-free municipal bonds have traditionally been the cornerstones of high-net-worth investor portfolios.