Middle class cheer in interim budget likely; I-T exemption limit may go up
The 2019-20 interim Budget may lay out a road map for possible tax incentives for the middle class. While the specific measures are expected to wait for the full Budget, the finance minister is likely to announce the government’s vision for an income-tax (I-T)-friendly regime, possibly including exemptions and raising of the I-T exemption limit from the current Rs 2.5 lakh per annum. Read on...
Tepid start to Q3 earnings as India Inc reports net profit growth at 10.1%
The third quarter (Q3) earnings season has started on a sluggish note for Corporate India. While India Inc has reported robust sales growth of 37.5 per cent year-on-year (YoY), net profit growth has been disappointing at 10.1 per cent, indicating margin pressure. Click here to read.
Global private equity funds bullish as six airports up for sale
At least half a dozen global private equity (PE) funds and airport developers have bought bid documents for the six Indian airports which are up for sale. German airport operator AviAlliance, Australia’s AMP Capital, Canada’s Brookfield Asset Management, and PSP pension fund, Sydney-based Macquarie Group, French airport operator Aéroports de Paris, and Italy’s Atlantia group are among the top names showing keen interest in the second wave of airport privatisation in the country, it is learnt. Read on...
New IT system to soon bar e-way bills if GST returns not filed for 6 months
Non-filers of GST returns for 6 consecutive months will soon be barred from generating e-way bills for movement of goods. The Goods and Services Tax Network (GSTN) is developing such IT system that businesses who have not filed returns for two straight return filing cycle, which is 6 months, would be barred from generating e-way bills, an official said. Read on...
RBI governor's concerns on growth may not lead to rate cuts in February
Reserve Bank of India (RBI) governor’s concerns about growth may not translate into outright rate cuts in the February policy, say economists, but there is a possibility of a change in stance from “calibrated tightening” to “accommodative”. RBI Governor Shaktikanta Das on Friday reiterated his stance that growth should be taken care of even as the RBI fights the inflation battle. Click here to read.
PSU index beat benchmarks only thrice since 2009: Bet on stocks carefully
The BSE PSU index underperformed the broader markets in 2018, losing 21 per cent, as against the Nifty and the Sensex that were up between 3 per cent and 6 per cent. In fact, over the last 10 years, the index has beaten the broader benchmarks only thrice. The last time the sector did better than the benchmark indices was in 2016, led by oil PSUs, select banks and power sector plays. Read on...
Renewable sector jittery on new external commercial borrowings norms
The restructuring of External Commercial Borrowings (ECB) norms by the Reserve Bank of India (RBI) has rattled the infrastructure industry, especially the renewable sector. Highly dependent on the ECB for refinancing due to lack of domestic source, the solar and wind sector would be deeply impacted, industry executives said. Click here to read.
NSEL scam: SFIO wants DCB Bank licence cancelled
The Serious Fraud Investigation Office (SFIO) has sought the cancellation of the banking licence of DCB Bank for its role in the National Spot Exchange Limited (NSEL) scam, according to The Hindu BusinessLine report.
A Jet-Etihad deal won’t comfort many investors
Life seems to have come full circle for Jet Airways and Etihad Airways. And not in a nice way. The two are once again stuck in a complex web of altercations that coloured their initial talks before the Abu Dhabi-based airline bought 24% stake of its Indian peer, according to The Economic Times report.
Centre to weigh exempting Meril stents from price cap
The fate of India-made dissolvable stents is likely to be decided this month with the government all set to consider exempting stents made by Meril Life Sciences Pvt. Ltd from price caps, according to a Livemint report.