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The Economic Times
The Economic Times GST on cigarettes, tobacco, aerated beverages may be hiked to 35 pc; GST Council decision on Dec 21
The Group of Ministers on GST rate rationalisation decided to increase tax on aerated beverages, cigarettes, and tobacco products to 35% from 28%. Changes to GST rates on apparel and other items are also proposed. The report is set to be discussed by the GST Council on December 21 for final decisions on these changes.
The Economic Times ICRA expects sequential revenue growth for India Inc in Q3
On balance, ICRA said it expects the operating profit margin (OPM) for India Inc to improve in the coming quarters.
The Economic Times Infinx appoints Ninad Chavda as new CFO
Infinx has appointed Ninad Chavda as its new Chief Financial Officer, bringing over 25 years of expertise in financial management, mergers, and acquisitions to strengthen the company's global operations.
The Economic Times Nissan CFO Stephen Ma set to step down
Nissan Motor Corporation, one of Japan's largest automakers, appointed Stephen Ma as CFO in December 2019. Ma is now set to step down amid ongoing challenges, marking another significant leadership change for the company.
The Economic Times Up to 75 pc of GST revenue comes from 18 pc slab: MoS Finance
Minister of State for Finance Pankaj Chuadhary shared the details of the proportion of GST collected (excluding compensation cess and other payments) under various tax slabs in 2023-24 in the Lok Sabha.
The Economic Times Centre to revise base year for GDP computation as 2022-23
The Indian government will update the base year for GDP calculation from 2011-12 to 2022-23. Announced in Rajya Sabha, this revision incorporates advanced methodologies and data sources for accurate estimates, ensuring alignment with recent economic trends and sectoral shifts.
The Economic Times Over 60 pc sustainability startups call for increased govt support to boost funding in segment: Survey
Over 60 per cent of Indian sustainability startups demand increased government support to fuel funding. A survey involving 200 startups from six Indian cities highlighted this need. The startups focus on clean tech, EVs, green hydrogen, solar power, and eco-friendly solutions. Strong government support, better infrastructure, and adequate financial backing are essential for their success.
The Economic Times Efforts should be made to make tax collection less intrusive: President Murmu
President Droupadi Murmu urged trainee IRS officers to make tax collection less intrusive and rely more on technology. She highlighted the importance of tax for the development of the country. Murmu encouraged officers to work with dedication and to develop transparent and accountable systems, emphasising the role of IRS officers in nation-building and international economic cooperation.
The Economic Times India records 45 pc surge in FDI to $29.79 billion in April-Sept
Foreign Direct Investment (FDI) inflows into India surged by a robust 45 per cent to $29.79 billion in April-September during the current financial year compared to $20.5 billion in the same period during 2023-24, according to figures compiled by the Department for Promotion of Industry and Internal Trade (DPIIT).
The Economic Times India needs to grow at over 7% along with robust fiscal framework to meet Viksit Bharat target: EY India
Enhanced government spending is crucial for India's Viksit Bharat vision, with strategies needed to boost tax revenues, optimize fiscal transfers, and increase government expenditure to 35% of GDP. Aiming for 7% GDP growth and fiscal prudence, the goal is to achieve developed economy status by FY2048.
The Economic Times AdvantageClub.ai raises $4M to drive AI-powered engagement and growth
AdvantageClub.ai, an employee engagement platform, has raised $4 million in funding led by Axilor Ventures, bringing its total to $11 million. The company plans to use the investment to enhance AI-powered solutions, expand into the US and Asia, and develop wellness programs, reflecting growing confidence in its ability to transform workforce engagement.
The Economic Times Swiggy expands 10-minute food delivery service Bolt to over 400 cities
The massive expansion of the rapid food delivery service by Swiggy comes at a time when startups are increasing their presence in this area. Zepto last month said it was scaling up its Cafe business, through which it delivers a limited set of food items from its quick commerce dark stores.
The Economic Times Indian real estate attracts Rs 75,500 cr investment from AIFs; highest among all sectors: Anarock
Investment in Indian real estate by Alternative Investment Funds (AIFs) has reached nearly Rs 75,500 crore, accounting for 17% of total AIF inflows across sectors. Real estate remains the preferred sector for AIF investments, driven primarily by Category II AIFs, followed by IT/ITeS and financial services.
The Economic Times Indian cenbank's ballooning NDF position suggests more rupee losses, bankers say
The Reserve Bank of India has significantly increased its position in the non-deliverable forward market to support the rupee, which is under severe pressure. The rupee hit an all-time low of 84.6825 per U.S. dollar, prompting interventions from the RBI. Experts believe the rupee will likely decline further amid ongoing market pressures.
The Economic Times NFRA says its SA 600 revisions get backing from CII, ASSOCHAM, corporates including Tata Chemicals, M&M
Earlier, the NFRA had invited public comments on SA 600 until October 30th, amid a tussle with the ICAI over auditing standards. As stated by the NFRA, the feedback received during the public consultation has been largely positive. The final decision on the matter will be taken by the Ministry of Corporate Affairs.
