Page 1132 - Business Finance
Eicher Motors Ltd spurts 3.81%, rises for third straight session
Eicher Motors Ltd is quoting at Rs 19729.55, up 3.81% on the day as on 12:49 IST on the NSE. The stock is down 29.06% in last one year as compared to a 1.28% gain in NIFTY and a 24.95% gain in the Nifty Auto index.
Ashok Leyland jumps after sales rise in January
Ashok Leyland rose 6.09% to Rs 86.25 at 12:59 IST on BSE after total sales rose 9% to 19,741 units in January 2019 over January 2018.
Budget 2019: Individual taxpayers with annual income up to Rs 5 lakh to get full tax rebate
Individual taxpayers with annual income up to Rs 5 lakh will get full tax rebate, said Finance Minister Piyush Goyal on Friday, while presenting the interim Budget for 2019-20 in the Lok Sabha.Around 3 crore middle-class taxpayers will get tax exemption due to this measure. Earlier, the income tax exemption limit was Rs 2.5 lakh."Individuals with gross income up to Rs 6.5 lakh will not need to pay any tax if they make investments in provident funds and prescribed equities," said Goyal.Standard tax deduction for salaried persons has been raised from Rs 40,000 to Rs 50,000. Tax deduction at source (TDS) threshold on interest on bank and post office deposits has been raised from Rs 10,000 to Rs 40,000.TDS threshold on annual rental income has been raised from Rs 1.8 lakh to Rs 2.4 lakh.Finance Minister Goyal said: "On behalf of all the people of India and our Government, thank all our taxpayers for their valuable contribution to nation-building and for providing a better quality of life .
Budget 2019: India lets fiscal deficit targets slip this financial year and next
NEW DELHI (Reuters) - India set a fiscal deficit target of 3.4 percent of gross domestic product (GDP) for 2019/20, higher than a previous estimate, and also said it would breach this year's target, as an interim budget presented on Friday boosted spending for the rural sector.
Focus: Eni keeps foot on the gas in high-speed Gulf drive
MILAN (Reuters) - In less than 12 months Eni CEO Claudio Descalzi has turned the Middle East from a sideshow to a strategic hub for the Italian energy major. And the shift is not over.
Dirty money risks encroach on Estonia's digital utopia
TALLINN (Reuters) - Estonia's push to become a digital society has left it vulnerable to dirty money and sanction breaches, the country's top banking regulator has warned.
Focus: Some US metals importers resigned to higher prices as Trump's tariffs bite
HOUSTON(Reuters) - U.S. metals importers that applied last year for exemptions from tariffs on steel and aluminum are losing hope the Commerce Department will approve their petitions, as the recent government shutdown added to a wait that for some has stretched to eight months without a ruling.
Japan's Honda Motor third quarter profit drops 40 percent on discounting, quality costs
TOKYO (Reuters) - Honda Motor Co Ltd on Friday reported a 40.2 percent drop in third-quarter operating profit, missing market expectations due to higher discounting and quality-related costs.
Sony reports best-ever quarterly profit on strong music business
TOKYO (Reuters) - Japan's Sony Corp raked in its highest-ever quarterly profit on Friday, propelled by its music segment following the acquisition of EMI.
Highlights: India unveils budget aimed at tackling rural distress ahead of election
NEW DELHI (Reuters) - India on Friday unveiled an interim budget with giveaways for rural citizens and the middle class, in what is being seen as a critical test for Prime Minister Narendra Modi, who is facing anger over depressed farm incomes and unemployment with a general election just months away.
Oil prices supported by trade talk hopes, pressured by weak China data
SINGAPORE (Reuters) - Oil prices were steady on Friday, torn between hopes the United States and China could soon settle their trade disputes and new data raising fresh concerns over China's economic slowdown.
National Artificial Intelligence Portal to help boost sector: Goyal
In a bid to strengthen the Artificial Intelligence (AI) sector in India, Finance Minister Piyush Goyal on Friday announced that the government will soon launch a National Artificial Intelligence Portal.
Budget 2019: Direct tax collection shoots up to Rs 12 lakh crore from Rs 6.38 lakh crore
Direct tax collections have moved up from Rs 6.38 lakh crore in 2013-14 to almost Rs 12 lakh crore while the tax base swelled from 3.79 crore to 6.85 crore, Finance Minister Piyush Goyal said on Friday. Presenting the interim Budget for 2019-20 in the Lok Sabha, Finance Minister Goyal said that nearly 99.54 per cent returns have been accepted without any scrutiny."The simplification of the direct tax system will benefit taxpayers. Direct taxes have been reduced. The tax interface made simpler and faceless to make life easier, resulting in an increase in tax collections and return filings," said Goyal."Within almost two years, almost all assessment and verification of IT returns will be done electronically by an anonymized tax system without any intervention by tax officials," said the Finance Minister."The Goods and Services Tax (GST) is the undoubtedly the biggest taxation reform implemented since Independence. Through tax consolidation, India became one common market. Inter-state ...
Interim Budget: Centre introduces single-window clearance for Indian filmmakers
The Centre announced the introduction of single-window clearance for Indian filmmakers to shoot their films - a provision that was earlier available only to international filmmakers.Finance Minister Piyush Goyal, while presenting the Interim Budget 2019, also announced the introduction of anti-camcording provisions to control the menace of privacy, following which the House erupted into cheers of "How's the Josh"."The entertainment industry is a major employment generating sector. Therefore, we have decided to introduce single window clearance for ease of shooting films for Indian filmmakers. Regulatory provisions will rely on self-declaration. Anti-camcording provision will also be introduced to the Cinematograph Act to combat film privacy," he said.While presenting the Budget, Goyal said all unmanned level crossings on broad gauge networks have been completely eliminated. He also announced the introduction of the Vande Bharat Express, an indigenously developed semi high-speed rail ..
GST collections for January expected at Rs 103,000 cr
The Goods and Services Tax (GST) collections for January have crossed the Rs 1 lakh crore mark and is expected to be Rs 103,000 crore, acting Finance Minister Piyush Goyal said on Friday.
Defence, agriculture related stocks rise on budget sops
Key indices regained strength as interim Finance Minister Piyush Goyal said that India is poised to become largest global economy. At 12:21 IST, the barometer index, the S&P BSE Sensex, was up 195.09 points or 0.54% at 36,451.78. The Nifty 50 index was up 43.95 points or 0.41% at 10,874.90.
Crude oil futures fall 0.9 pc on weak domestic demand
Crude oil futures fell 0.9 per cent to Rs 3,868 per barrel, in line with a weak trend in the domestic markets, as speculators cut their bets. Crude for delivery in March this year was trading lower by Rs 35, or 0.9 per cent, to Rs 3,868 per barrel with a business volume of 593 lots. Traders said the fall in crude oil futures is mostly in tandem with a muted trend, coupled with profit-booking at current levels by speculators in the domestic market. Globally, however, the West Texas Intermediate was up 0.06 per cent to USD 53.82 per barrel, while brent, the international benchmark, surged 0.39 per cent to USD 61.89 a barrel.
Govt hikes gratuity limit to Rs 30 lakh; announces Mega
The Government Friday decided to hike the gratuity limit from Rs 10 lakh to Rs 30 lakh and also announced a Mega Pension Yojana under which Rs 3,000 per month will given to unorganised sector employees. Presenting the interim budget for 2019-20, Finance Minister Piyush Goyal said the Mega Pension Yojana -- 'Pradhan Mantri Shram Yogi Mandhan (PMSYM)' -- will benefit 10 crore workers in the unorganised sector. "It may become the world's biggest pension scheme for unorganised sector in five years," Goyal said. He said 50 per cent of the country's Gross Domestic Produce (GDP) comes from "sweat and toil of 42 crore workers in the unorganised sector." The Finance Minister also announced increase of gratuity limit from Rs 10 lakh to Rs 30 lakh from the next fiscal. Under the PMSYM, Goyal said a monthly pension of Rs 3,000 per month will be assured for workers in the unorganised sector after 60 years of age. The pensioners will have to contribute Rs 100 per month. High growth ...
10 Days Hair Oil records 9000 customer orders in less than 24 hours
Rathira Ayurveda Private Limited, a company that is renowned for its ingenuity in making 10 Days Hair Oil (ayurvedic hair oil) available for all those who suffer hair loss and for those who desire shining and beautiful hair is at it again!This time around, the company records a landmark in sales of 10 Days Hair Oil products in just a day. This phenomenal sale happened on the Indian Republic Day, 26th of January 2019. The sales was unprecedented and never has this happened in the history of 10 Days Hair Oil or any other hair oil in India.Due to 10 Days Hair Oil effectiveness and its friendly scent, many people chose to buy the products on the Republic Day when the company decided to lower the price, in fact, 70 percent of the buyers bought more than one. To encourage more buyers and give back to the society, the company slashed the price of 10 Days Hair Oil from Rs. 1999 to Rs. 499. This further makes the company to record an unprecedented surge in the sales of 10 Days Hair Oil - close
Defence budget pegged at Rs 3 lakh crore
The defence Budget for the financial year 2019-20 was on Friday pegged at Rs 3 lakh crore, up by around RS 4,500 crore from the previous fiscal.Announcing the outlay while presenting the interim Budget in the Lok Sabha, Finance Minister Piyush Goyal said it is the first time that the outlay has touched Rs 3 lakh crore mark.He said if more funds are required, those will be made available.The intent is to strengthen the defence of the country, Goyal said.The defence Budget earmarked in the last fiscal was Rs 2,95,511 crore. Talking about One Rank, One Pension (OROP), the Finance Minister said Rs 35,000 crore have already been dispersed under this scheme by the present government.He used the occasion to target the previous UPA government, saying it had earmarked just Rs 500 crore for the purpose.