Ruchika Chitravanshi
Ruchika Chitravanshi
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Interim Budget: Govt policies to focus on four priority groups, says FM
Country self-sufficient in face of global challenges like the Red Sea crisis, she says
 "Interim Budget: Govt policies to focus on four priority groups, says FM")
Auditors must do basic groundwork, not rely too much on AI: NFRA Chairman
If one reads the Companies Act, Code of Ethics, and Standards of Audit and Quality Control in a harmonious manner, then one would not have any confusion about definition of non-audit services, he said
 "Auditors must do basic groundwork, not rely too much on AI: NFRA Chairman")
Striking balance: CCI may tailor penalties for global corporations
The base penalty would be calculated on a company's relevant turnover, which is the turnover related to the product or service infringing on the law in the domestic market
 "Striking balance: CCI may tailor penalties for global corporations")
Central governments show fiscal prudence in Lok Sabha election years
Emkay Research study shows fiscal deficit trend much healthier than in FY19
 "Central governments show fiscal prudence in Lok Sabha election years")
Highest ever tally: Over 141K firms incorporated in FY24 so far, shows data
Official sources said that this was indicative of increased economic activity in the country
 "Highest ever tally: Over 141K firms incorporated in FY24 so far, shows data")
Cabinet nod for three officer-level posts for 16th Finance Commission
The three posts include two posts of Joint Secretary and one post of Economic Adviser
 "Cabinet nod for three officer-level posts for 16th Finance Commission")
67% of ongoing corporate insolvency resolution cases cross 270-day timeline
Although IBC leaves little room for interference, objections by erstwhile promoters or the suspended board of corporate debtor, competing resolution applicants, and dissatisfied creditors are many
 "67% of ongoing corporate insolvency resolution cases cross 270-day timeline")
Fitch affirms India's long-term FX rating at 'BBB-' with stable outlook
'India is poised to remain one of the fastest-growing countries globally in the next few years as the robust economic momentum is proving resilient,' the ratings agency said
 "Fitch affirms India's long-term FX rating at 'BBB-' with stable outlook")
Resolve this: How India's insolvency process drags on, erodes asset value
Litigation tactics of corporate debtors and poor judicial infrastructure among reasons for delay
 "Resolve this: How India's insolvency process drags on, erodes asset value")
No headway on digital competition law as committee term ends
The panel is looking at various regulatory aspects in dealing with challenges emerging from the digital economy
 "No headway on digital competition law as committee term ends")
Fiscal deficit at 5.2-5.4% in interim Budget 2024-25: Goldman Sachs
While income taxes and corporate taxes are expected to grow at around 15 per cent in FY25, the government is likely to lower its target for disinvestment in the next fiscal year
 "Fiscal deficit at 5.2-5.4% in interim Budget 2024-25: Goldman Sachs")
Direct listing of stocks at GIFT City soon, says FM Nirmala Sitharaman
Sitharaman said that IFSC should become the platform for the trade of carbon credit
Reliance Jio's Hathway, Hinduja arm in race to acquire Siti Networks
Hathway Digital and IndusInd Media & Communications did not wish to comment on the development
 "Reliance Jio's Hathway, Hinduja arm in race to acquire Siti Networks")
India growing rapidly, to be $30 trn economy by 2047: FM Sitharaman
Relationship between states and centre is of collaborative federalism, she says at Vibrant Gujarat Summit
 "India growing rapidly, to be $30 trn economy by 2047: FM Sitharaman")
Health check for healers: The big audit firms are under the NFRA lens
Now, the national accounting watchdog has turned the spotlight on audit firms themselves. These firms are perceived to be the eyes and ears of non-promoter investors
 "Health check for healers: The big audit firms are under the NFRA lens")
India Inc concerned about CBAM's impact on supply chain: PwC study
Half of companies surveyed in the PwC study say they are actively taking steps to reduce carbon footprint and align with environmental sustainability goals
 "India Inc concerned about CBAM's impact on supply chain: PwC study")
NFRA imposes Rs 20 lakh penalty on CA for professional misconduct
In another matter, NFRA imposed a penalty of Rs three lakhs on another CA and debarred him for three years for professional misconduct in the audit of SRS Infrastructure
 "NFRA imposes Rs 20 lakh penalty on CA for professional misconduct")
India Inc seeks tax reforms, R&D incentives in upcoming interim Budget: EY
EY said that no major tax amendments or reforms are expected in the upcoming Budget as evidenced from the previous Interim Budgets of 2009, 2014 and 2019
 "India Inc seeks tax reforms, R&D incentives in upcoming interim Budget: EY")
UN report revises India's GDP projection downward to 6.2% for 2024
Despite revising the growth estimates for 2024 downward by 0.5 percentage points, the report projects a rebound in 2025, with a GDP growth projection of 6.6 per cent
 "UN report revises India's GDP projection downward to 6.2% for 2024")
Underspending by key ministries may help govt achieve FY24 deficit target
According to latest data released by the Controller General of Accounts (CGA) the 15 departments have cumulatively spent only 17.8 per cent of the Rs 1.45 trillion allocated in the Budget
 "Underspending by key ministries may help govt achieve FY24 deficit target")