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Thursday, February 9, 2023
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Gross advanced tax collection falls by 31% in first quarter of fiscal year

The advance corporate tax mop-up declined by 79% as well due to the three-month long lockdown imposed due to coronavirus.

India needs policy ‘predictability’ to be an alternative to China: US-India trade body

Mukesh Aghi, president & CEO of US-India Strategic Partnership Forum, says India should make some things easier for companies, like Vietnam & Cambodia do.

Fall in wholesale inflation gives room to RBI to further cut rates

WPI inflation data signals weak demand & allows RBI to further cut rates to support an economy headed for first annual contraction in more than four decades.

Wholesale Price Index inflation falls by 3.21% in May, but food prices soar

Inflation in food articles during May stood at 1.13 per cent, as against 2.55 per cent in April, according to a statement released by the commerce and industry ministry.

Global economy is set for a V-shape recovery, Morgan Stanley economists say

Predicting a ‘sharp but short’ recession, Morgan Stanley economists said they expect global GDP growth will recover to 3% by the first quarter of 2021.

Punjab paddy farmers say labour costs have doubled as local workers demand higher wages

Farmers in Punjab have to now rely on local workforce due to labour shortage after migrant workers’ exodus. Many have had to buy direct seeding machines.

Mukesh Ambani adds TPG Capital to Jio backers with $600 million sale

Jio Platforms, with equity value of about $65 billion, has sold over 22% in stakes to buyers including Facebook Inc., KKR & Co., Silver Lake Partners and General Atlantic.

Petrol, diesel prices rise for 7th day in a row, rates go up by about half a rupee

Petrol price in Delhi was hiked to Rs 75.16 per litre from Rs 74.57, while diesel rates were increased to Rs 73.39 a litre from Rs 72.81.

IIP contracts by record 55% in April due to lockdown, but Modi govt says data not comparable

The data showed manufacturing contracted by 64 per cent in April, followed by mining at 27 per cent and electricity by 26 per cent.

India could see millions pushed into extreme poverty due to pandemic: World Bank analysis

South Asia may see 42 mn people being pushed into extreme poverty, according to World Bank analysis, as the pandemic leads to longer shutdowns, increase in costs.

On Camera

YourTurn

FILE PHOTO: Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. REUTERS/Aly Song

US ‘shaking up’ Marine Corps shows its laser focus on China....

The iCET agreement goes the whole hog in joint cooperation between US and India. But there is a greater need to focus on how the defence budget is spent.
Representative Image | ANI

‘Need to see a decisive moderation in inflation’: RBI Governor on...

While overall inflation is moderating, high and persistent core inflation remains a worry, as does the uncertain global growth & inflation environment, the governor said.

Defence

File photo of the Chinese spy balloon which was later shot down by the US | Reuters

China has spy balloons, India has aerostats. But IAF’s had mixed...

After Kargil Review Committee's recommendation, air force purchased 2 aerostats worth over Rs 300 crore for surveillance in 2007. IAF favours AWACS for vigilance operations.
Illustration by Soham Sen | ThePrint

Market has won & now it’s for Adani to decide whether...

If the political establishment responds to a situation like this as if it’s something that must only play out between a corporate & the market, it's coming of age of Indian capitalism.