Data recap: GDP forecast, Nobel prize, Cipla’s feud
₹1,200 per share and the family’s decision to exit the eight-decade-old business, Mint reported. Despite a substantial 18.68% promoter stake in Cipla, family patriarch Yusuf Hamied cannot unilaterally decide to divest control of Cipla due to a 2017 pact.
Even as the RBI’s monetary policy committee has not raised the policy repo rate this financial year, the transmission of the 250-basis-point hike between May 2022 and February 2023 is yet to happen fully. According to the latest data, the transmission to fresh deposit (retail and bulk) rates has been the highest at 233 basis points (bps), while lowest to outstanding rupee loan at 112 bps.
The MPC said last week that since the transmission was still incomplete, it has decided to remain focused on withdrawal of accommodation, while keeping the repo rate unchanged. Even as India is struggling with low production of food items due to below-normal monsoon this year, the yields of rice and wheat have improved dramatically—by 4.5 times and 10 times, respectively—in the past 60 years, thanks to technological innovations implemented during the ‘green revolution’, an analysis by howindialives.com showed.
The agritech sector is now attracting start-ups committed to solving problems faced by agriculture. Despite a funding lull, upstream agrifood tech startups have emerged as a bright spot.
70%: That’s the percentage of personal income taxpayers who are expected to shift to the new tax regime, according to Central Board of Direct Taxes chairman Nitin Gupta. The new tax regime was introduced in 2020 to simplify the tax structure and lower the tax rates, and in the Budget 2023, the government raised the threshold for a full tax rebate to a taxable income of ₹7 lakh per annum from ₹5
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