Budget 2023: How Government Earns And Spends Every Rupee

Budget 2023: How Government Earns And Spends Every Rupee

For every rupee the government spends, 20 paise goes into repayment of debt, liabilities. New Delhi: For every rupee that the Government of India earns, 34 paise comes through borrowings and liabilities while Goods and Services Tax (GST) contributes 17 paise, the 2023 Union Budget reveals. Income tax and corporation tax add 15 paise each … Read more

Centre Likely To Hike Dearness Allowance To 42% For 1 Crore Employees

Rupee Rises 21 Paise To 82.66 Per Dollar, Reversing Friday

The allowance is revised periodically twice a year. (Representational) New Delhi: The central government is likely to increase dearness allowance (DA) for its over one crore employees and pensioners by four percentage points to 42 per cent from existing 38 per cent as per the agreed formula for the purpose. The dearness allowance for employees … Read more

Foreign Portfolio Investors In India To Pay Higher Tax On Debt Securities: Report

Foreign Portfolio Investors In India To Pay Higher Tax On Debt Securities: Report

New Delhi: Foreign portfolio investors will lose a preferential tax rate on interest from Indian government securities and corporate and foreign currency bonds, a senior tax official said on Saturday. Foreign portfolio investors have been enjoying a lower 5% tax on interest earned on bonds since 2013, making investments in the country more attractive. Ending … Read more

Tax Sought From Amazon In India On Cloud Services Fees Paid To US

Tax Sought From Amazon In India On Cloud Services Fees Paid To US

Amazon said it will contest the decision. (Representational) New Delhi: Indian tax authority has decided to charge tax on cloud services fees paid by Amazon to the US, a move which will lead to company coughing up “significant” amount in taxes including payments for some of the previous years, the company said in a regulatory … Read more

“Unusual Price Movement In Stocks Of Business Conglomerate”: SEBI

SEBI Tweaks Its Operational Circular On Credit Rating Agencies

SEBI has given a statement on market volatility Mumbai/New Delhi: The capital markets regulator Securities and Exchange Board of India (SEBI) said it has observed “unusual price movement in stocks of a business conglomerate” in the past week amid the Adani stocks rout. “SEBI is committed to ensuring market integrity and to ensuring that the … Read more

S&P Global Ratings Revises Outlook On Adani Ports, Electricity To Negative

S&P Global Ratings Revises Outlook On Adani Ports, Electricity To Negative

New Delhi: S&P Global Ratings on Friday revised outlook on Adani Ports and Adani Electricity to negative from stable while affirming the rating. A US short-seller report alleging significant governance issues for the Adani Group, many of which relate to disclosures and actions at the shareholder level, has triggered a sharp fall in Adani Group … Read more

4 Adani Group Stocks Rebound, Adani Ports Jumps 8%, Adani Enterprises 1.25%

4 Adani Group Stocks Rebound, Adani Ports Jumps 8%, Adani Enterprises 1.25%

New Delhi: Shares of four Adani Group firms, including Adani Enterprises and Adani Ports bounced back on Friday after facing heavy drubbing in the past six days. The stock of Adani Enterprises rebounded 1.25 per cent to settle at Rs 1,584.20 apiece on the BSE. During the day, it tumbled 35 per cent to Rs … Read more

RBI Says “Banking Sector Resilient And Stable” Amid Adani Stocks Rout

The RBI said it remains vigilant and continues to monitor the stability of Indian banking sector New Delhi: The Reserve Bank of India today said the country’s banking system remains resilient and stable, amid concerns about the exposure of lenders to Adani group companies. “Various parameters relating to capital adequacy, asset quality, liquidity, provision coverage … Read more

Centre Asks Vodafone Idea To Convert Dues Into Equity Worth $2 Billion

Centre Asks Vodafone Idea To Convert Dues Into Equity Worth $2 Billion

Centre will take 33 per cent equity in Vodafone Idea New Delhi: The government will take 33 per cent equity in Vodafone Idea after converting all interest related to payments for spectrum and other dues into equity, making it the single-largest shareholder in the telecom firm. Vodafone Idea will convert dues of Rs 16,133 crore … Read more

“Storm In Teacup” For Macroeconomics: Top Official On Markets Turmoil

Adani Enterprises fell by over 70 per cent from its peak of Rs 4,190 in December last year New Delhi: The stock market turmoil created by rout in Adani group shares is a “storm in a tea cup” from a macroeconomic point of view, Finance Secretary TV Somanathan said on Friday, emphasing that India’s public … Read more