While the coalition will not be unstable because of pressures, the effort from partners will be to constantly remind the central government and the BJP how much it is dependent on them.
There is also speculation within the BJP that its national president J P Nadda, whose extended tenure will end by this month and who was among the leaders meeting Modi, may also be brought back in the government.
Loan against gold as a product is catching on fast. Let's keep the momentum going, but aim for sustainable growth. A few bad apples should not ruin the brunch, argues Tamal Bandyopadhyay.
In order to reduce government litigations, the Union Finance Minister Nirmala Sitharaman on Saturday said the GST Council has fixed a monetary limit for filing appeals by the tax department before the various appellate authorities. It has recommended a monetary limit of Rs 20 lakh for GST Appellate Tribunal, Rs 1 crore for the High Court and Rs 2 crore for the Supreme Court for filing of appeals by the department before these legal forums, she said after the 53rd GST Council meeting held in New Delhi.
The country's gross GST collections rose to Rs 1.73 lakh crore in May, growing 10 per cent year on year driven by increased revenues from domestic transactions, the finance ministry said on Saturday. GST collections had touched a record high of Rs 2.10 lakh crore last month.
'Like every Budget, this time, too, there is chatter around tinkering with the long-term capital gains tax.' 'Investors may not want to jump into the markets until there is clarity on this front.'
Stock markets snapped their five-day losing run on Friday with the benchmark BSE Sensex closing higher by 75 points on value-buying in banking and oil shares after recent losses. The 30-share BSE Sensex rose by 75.71 points or 0.10 per cent to settle at 73,961.31. During the session, it hit a high of 74,478.89 points and a low of 73,765.15 points.
India has moved 100 metric tonnes of its gold stored in the UK to domestic vaults in FY24, sources said on Friday. This is one of the biggest movements of gold undertaken by the country since 1991, when pledging a substantial part of the gold holding to tide over a foreign exchange crisis resulted in its movement out of vaults. The country's overall gold holding increased 27.46 metric tonnes in FY24 and it stands at 822 metric tonnes, as per official data.
Granting SCS to the state has been a long-pending demand of the JD-U supremo and Bihar chief minister Nitish Kumar, whose Bihar cabinet had even passed a resolution last year requesting the Centre to grant SCS to the state.
From the Sensex pack, Tata Steel, Titan, Tech Mahindra, Wipro, Bajaj Finserv, Bajaj Finance, Nestle India, Tata Motors and JSW Steel were the biggest laggards. ICICI Bank, Axis Bank, HDFC Bank, State Bank of India and Kotak Mahindra Bank were the gainers.
Vatsal Ramaiya draws wisdom from the Bhagvad Gita and correlates it to how you can build a decent corpus to achieve a peaceful retirement.
'There is also a possibility that Andhra Pradesh may demand a similar package. But as of now, we are only working on a package for Bihar.'
'You cannot have only one product or one market or one customer segment.'
The Reserve Bank on Wednesday imposed business restrictions on Edelweiss Group's lending and asset reconstruction arms on concerns over evergreening of loans. The central bank has asked ECL Finance Ltd (ECL) to cease and desist from undertaking any structured transactions in respect of its wholesale exposures, other than repayment and/or closure of accounts, an official statement said.
S&P Global Ratings on Wednesday upgraded India's sovereign rating outlook to positive from stable while retaining the rating at 'BBB-' on robust growth and improved quality of government expenditure. S&P said it could upgrade India's sovereign rating in the next 2 years if the country adopts a cautious fiscal and monetary policy that diminishes the government's elevated debt and interest burden while bolstering economic resilience.
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