Equity mutual fund inflows, including hybrid schemes but excluding arbitrage, in August this year fell to Rs 424 billion, marking a 25% month-on-month and 8% annual decline, as per a JM Financial report.The fall was driven largely by a thinning new fund offering (NFO) pipeline, which accounted for 61% of the Rs 142 billion MoM…
Union finance minister Nirmala Sitharaman speaking at a joint conclave of trade and industry associations in Chennai (Picture credit: PTI) Union finance minister Nirmala Sitharaman on Sunday described the latest Goods and Services Tax (GST) reforms as a huge victory for every Indian, saying they would ease the tax burden on citizens while giving a…
India must urgently develop its own sovereign cloud technology, homegrown operating systems (OS), cybersecurity, and AI capabilities to reduce its over-reliance on US systems, the India-based Global Trade Research Initiative (GTRI) has argued, warning that current dependence poses major economic and security risks.In a report, GTRI highlighted that Indian phones, computers, defence, and government applications…
The combined market valuation of eight of the 10 most valued domestic firms jumped Rs 1,69,506.83 crore last week, in line with an upbeat trend at Dalal Street. Bajaj Finance led the gainers, while Hindustan Unilever and LIC were the only laggards.During the week, the BSE benchmark surged 1,193.94 points or 1.47 per cent, boosting…
India plans to strengthen its northeastern border region through extensive railway development. (AI image) India is planning to build railway lines in the north-east along the border with China, with an aim to enhance logistics infrastructure in the strategically important areas. The development, estimated to cost the government 300 billion rupees ($3.4 billion), has a…
File photo: Finance minister Nirmala Sitharaman (Picture credit: PTI) Finance minister Nirmala Sitharaman has indicated that the Insurance Amendment Bill, which proposes to raise foreign direct investment (FDI) in India’s insurance sector to 100 per cent, is likely to be introduced in Parliament during the upcoming Winter session, which is likely to commence from the…
US President Donald Trump (R) and Chinese foreign minister Wang Yi (R) China has hit back strongly at the Donald Trump-led US after Washington called on its Nato allies to impose major sanctions on Beijing — 50 to 100 per cent — alleging China’s role in funding Russia and adding to its lethal potency in…
Nayara Energy, India’s second-largest private oil refiner, is facing a second consecutive month of difficulty in securing non-Russian crude supplies as western shipping companies continue to refuse transportation of cargoes, according to ship tracking data cited by news agency PTI.Part-owned by Russia’s Rosneft PJSC, which holds a 49.13 per cent stake, Nayara has reduced operations…
India’s primary market is set for a busy fortnight, with more than a dozen companies preparing to float their initial public offerings (IPOs) in the second half of September, collectively aiming to raise nearly Rs 10,000 crore. The surge comes on the back of policy support, including GST 2.0 reforms and the Reserve Bank of…
Household budgets in India are likely to get some relief after the recent revision in Goods and Services Tax (GST) rates, according to a report by PwC. The advisory firm noted that the rate adjustments are expected to make everyday expenses more manageable for consumers, potentially lifting overall consumption sentiment. PM Modi Hails GST Reforms…
