A five-judge Constitution bench of the Supreme Court amid pronouncement of its judgment on a batch of pleas challenging the Central Government’s 2016 decision to demonetise, in New Delhi on January 2, 2023 The majority judgment of the Supreme Court on January 2, 2023 details extensively the documents placed on record by the government to … Read more
India’s net direct tax collections in 2022-23 surpassed the ₹11-lakh crore mark by December 17, reflecting a 19.8% uptick over last year, the Central Board of Direct Taxes said on Sunday. Last year, in the corresponding period, it was ₹9,47,959 crore. “The net direct tax collection of ₹11,35,754 crore includes Corporation Tax (CIT) at ₹6,06,679 … Read more
Annual growth in the Indian economy likely slowed in the July-September quarter as COVID distortions faded, economists said ahead of GDP data due on Wednesday that will provide clues about its resilience in the face of global economic turmoil. Asia’s third-largest economy is expected to post annual growth of 6.2% in the three months to … Read more
The government’s cash balances have nearly halved in about a month to Rs 2.3 lakh crore as it accelerates spending on infrastructure. Higher federal spending, though potentially inflationary, should boost economic growth that fell below even the central bank’s forecast last quarter. Cash balances with the government were at Rs 2.3 lakh crore on September … Read more
The pressure on asset quality of loans to micro small and medium enterprises (MSMEs) is set to increase, leading to a rise in non-performing assets (NPAs) in this segment in the next six months, according to a survey by the Federation of Indian Chambers of Commerce & Industry and the Indian Banks’ Association. Some of … Read more
Rakesh Jhunjhunwala often spoke at length about wealth creation. Many enthusiasts, learners and experts wanted to learn more about stock market investing from Big Bull. So, they asked him many questions. However, there were times when he faced slightly-unusual questions. Jhunjhunwala was once asked how it felt to be rich in a poor country. In … Read more
GST collections rose 28% to Rs 1. 49 lakh crore in July, making it the second highest monthly collection since the new tax regime kicked in a little over five years ago. The July numbers, which represent transactions in June, were bolstered by buoyant imports with revenues from that segment increasing 48%, compared to a … Read more
Key reasons for this dilemma and my take on them. Checkout if it makes sense to you.
Expecting the banking sector’s financial fundamentals to improve ahead, Moody’s in its research note said, declines in loan-loss provisions and increases in net interest margins will boost banks’ profitability. Capitalization, funding, and liquidity will be stable and support loan growth. In Moody’s opinion, banks operating environment will be stable as the economy gradually recovers from … Read more