Around 71 per cent of stock brokers are considering a shift towards a technology-based model and mulling increasing manpower in their IT team, as per a survey conducted by ANMI among its 900 members. The survey found that the increasing frequency and sophistication of cyber threats could be prompting financial institutions to invest more in [...]
Sustaining the current 19.5 per cent growth rate in income and corporate tax collections may be difficult in next fiscal year given headwinds from a slowing world and high base effect, a government source said. Net direct taxes, which are made up of personal income tax and the tax levied on corporate earnings, have seen a [...]
Announcement of measures such as quick refund of duties, resolving inverted duty issues and bringing exports through post and courier at par with standard customs clearances in the forthcoming Budget would significantly help boost the country's outbound shipments, economic think tank GTRI said on Friday. Most forecasts say that 2023 will be tough on trade [...]
The government is likely to extend fiscal incentives for production of toys, bicycles and leather and footwear in the forthcoming budget as it looks to expand production linked incentive (PLI) scheme to cover more high-employment potential sectors, sources said. The government has already rolled out the scheme with an outlay of about Rs 2 lakh [...]
Sri Lanka on Friday thanked India for the generous support of a USD 3.9 billion credit line last year and the assurances given to the IMF to restructure the country's debt after External Affairs Minister S Jaishankar conveyed India's commitment to increase investment flows to hasten the debt-ridden island nation's economic recovery. Jaishankar, who is [...]
The government will take a decision next month on increasing the sugar export quota from current 60 lakh tonnes after assessing the domestic production and internal demand, Food Secretary Sanjeev Chopra said on Thursday. The food ministry has allowed 60 lakh tonnes of sugar exports for the current 2022-23 marketing year (October-September). India exported around [...]
In a major blow to cash-strapped Pakistan, the World Bank has delayed the approval of two loans worth USD 1.1 billion until the next fiscal year, according to a media report. The Washington-based lender has also opposed slapping a flood levy on imports, creating a new hole in an already ambitious USD 32 billion annual [...]
India's domestic passenger traffic grew 13.69 per cent year-on-year to 127.35 lakh in December, according to DGCA monthly traffic data released on Thursday. The number of passengers flown by the Indian airlines in December 2021 was recorded at 112.02 lakh, as per data. IndiGo, which carried 69.97 lakh passengers during the month, lost the market [...]
Industry body Ficci has sought an increase in the import duty on aluminium and aluminium products to at least 12.5 per cent in the upcoming budget 2023-24, stating that the move will help curb dumping of aluminium products and encourage growth of the domestic manufacturing and recycling. The present import duty on aluminium and aluminium [...]
Equity benchmarks declined on Thursday after a two-day rally, mirroring a weak trend in the US markets and fresh foreign fund outflows. Weak US consumer data and hawkish comments from the Fed's policymakers dragged markets lower. The 30-share BSE Sensex declined dropped 187.31 points or 0.31 per cent to settle at 60,858.43. During the day, [...]
