The Economic Times
The Economic Times Finance minister to begin pre-Budget consultation from Friday
Sitharaman, who will chair these meetings, will seek their inputs regarding upcoming Budget amid seven-quarter low GDP print of 5.4 per cent in second quarter of the current financial year.
The Economic Times Govt open to idea of alternate financing model for MSME: Piyush Goyal
Commerce and Industry Minister Piyush Goyal announced that the government is open to exploring alternative financing models to support micro, small, and medium enterprises (MSMEs) and may allocate specific areas for them in industrial townships. He urged the industry to provide detailed feedback on challenges they face in accessing bank credit, especially regarding collateral and interest rates.
The Economic Times ICAI steps up disciplinary actions against errant chartered accountants
The Institute of Chartered Accountants of India (ICAI) has ramped up disciplinary actions against its members, with over 200 hearings conducted in recent months. Penalties have included membership cancellations. Over 1,000 chartered accountants have been found guilty of misconduct since 2007. Despite increased activity, the ICAI still faces criticism for past disciplinary shortcomings.
The Economic Times India Inc mostly keeps corruption, bribery cases behind closed doors
Indian companies rarely report bribery cases, despite anti-corruption policies. Public sector companies disclose more incidents due to higher scrutiny. This is because they handle public funds and large contracts. Private companies prefer internal handling of such issues. Unlike the US and UK, India lacks incentives for self-reporting corruption.
The Economic Times Aditya Birla Fashion gets GST demand of Rs 2.45 crore
Aditya Birla Fashion and Retail reported a GST demand of Rs 2.45 crore, comprising tax, interest, and penalty amounts. The company stated that this demand will not affect its financials or operations and considers it maintainable. They are currently assessing potential actions to contest the order, as disclosed in an exchange filing.
The Economic Times Can RBI's Arjuna shot save the rupee?
Incidentally, the rupee has been sliding without any break. To compound matters, gold reserves are also falling. This made the RBI take a bold decision. It took Arjuna’s shot on the US dollar to save the falling rupee. The RBI sold more than $47 billion in the forex market within the last two months. This is the first time the central bank used such big gunpowder.
The Economic Times Mastek's Global CFO Arun Agarwal resigns
Mastek, in an exchange filing, announced the resignation of its Global CFO, Arun Agarwal, who will assist during the transition as the company begins its search for a successor.
The Economic Times Abyro Capital launches $25 million fund to propel Indo-US transformative technology startups
Focused on solving real-world challenges, the fund will invest in startups across cutting-edge sectors like AI, GenAI, ERP SaaS, healthcare, financial inclusion, manufacturing, supply chain, and delivery.
The Economic Times Hyundai Motor India announce price hikes from January 2025
Tarun Garg, Whole-time Director and Chief Operating Officer, HMIL, said, "At Hyundai Motor India Limited, our endeavor is always to absorb rising costs to the extent possible, ensuring minimal impact on our customers. However, with the sustained increase in input cost, it has now become imperative to pass on a part of this cost escalation through a minor price adjustment."
The Economic Times 70% of loan requests by MSMEs are to meet immediate financial needs: Paisabazaar
A Paisabazaar study reveals 70% of 80 lakh Indian MSME business loan applications in the last 10 months sought funds for immediate needs like working capital and raw materials. Less than 30% focused on growth initiatives. Demand concentrated in metros, but non-metro applications are rising.
The Economic Times Apparel industry slams proposed GST hike
The Clothing Manufacturers Association of India (CMAI) expresses concern over the proposed GST rate hike on apparel. The CMAI warns that increasing the GST on garments priced between ₹1,500 and ₹10,000 to 18%, and to 28% for those above ₹10,000, could lead to job losses, reduced demand, and industry disruption.
The Economic Times Star Agriwarehousing files IPO papers with Sebi; aims to raise Rs 450 cr via fresh issue
Star Agriwarehousing and Collateral Management Ltd, a tech-driven agricultural services firm, has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).
The Economic Times Cyberattacks to spike in 2025; healthcare and finance sectors at risk: Report
A new report warns that the Indian finance and healthcare sectors face escalating cyber threats in 2025. AI-powered attacks, deepfakes, and supply chain vulnerabilities are key concerns. The report urges organizations to enhance cybersecurity strategies, focusing on AI-driven threat detection and cyber resilience to combat these evolving risks.
The Economic Times Employment, wage growth to drive consumption: CEA Nageswaran
India’s Chief Economic Adviser, Dr V Anantha Nageswaran, outlined a vision for India’s economic growth at the Bharat@100 Summit. Highlighting consumption, manufacturing, and private sector participation as growth pillars, he emphasised collaboration among public, private, and academic sectors to navigate global uncertainties.
The Economic Times India adopted meticulous approach to FTAs to safeguard interests of MSMEs: S Jaishankar
Highlighting the rationale behind this cautious stance, Jaishankar said, "Modi govt has been very cautious on FTA for two reasons. Number one, weighing the experiences and the results of previous and number two, our concern for the impact of FTAs on MSMEs."