The GST collection in February grew 12.5 per cent to over Rs 1.68 lakh crore, buoyed by domestic transactions, the finance ministry said on Friday. The total gross GST collection for the current fiscal (April 2023-February 2024) stands at Rs 18.40 lakh crore, 11.7 per cent higher than the mopup for the same period last fiscal.
Posts tagged Rediff
Why all is not well with DPIIT’s Make in India push (01-03-2024)
The Department for Promotion of Industry and Internal Trade (DPIIT) has proposed to raise the minimum local content under public procurement order in government contracts. But several local suppliers and multinational companies (MNCs) are saying such a steep target is not attainable. Class-I suppliers, whose goods, services or works offered for procurement has local content equal to or more than 50 per cent may see it hiked to 70 per cent, while it may go up to 50 per cent from 20 per cent for Class-II suppliers.
Markets at record highs; Sensex ends up 1,245 points (01-03-2024)
Equity benchmark indices Sensex and Nifty hit their all-time high levels on Friday helped by impressive GDP data and fresh foreign fund inflows. Also, a rally in global markets added to the positive momentum in the equity markets. The 30-share BSE Sensex jumped 1,139.04 points to 73,639.34 — its all-time peak — in the late afternoon trade.
India’s manufacturing sector growth hits 5-month high (01-03-2024)
India’s manufacturing sector growth climbed to a five-month high in February amid a sharper uptick in factory production and sales, supported by both domestic and external demand, a monthly survey said on Friday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) rose from 56.5 in January to 56.9 in February, pointing to the strongest improvement in the health of the sector since September 2023. In Purchasing Managers’ Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction.
Two major challenges of Bandhan Bank (01-03-2024)
It is 10 years since Bandhan Financial Services became the first microfinance institution (MFI) to receive the universal bank licence. A year later, in 2015, it started operations. Bandhan’s entry into banking was seen as a vote of confidence by the Reserve Bank of India (RBI) for the country’s microfinance sector. Subsequently, the RBI awarded small finance bank licences to nine MFIs.
Karnataka’s Locals Push Draws Flak (01-03-2024)
‘Such steps would be a barrier and something people do not want.’
Want To Buy A Bungalow For Rs 325 Crore? (01-03-2024)
Enquiries indicate it belongs to an industrialist with links to a prominent cricketer.
‘Investors should have balanced portfolio’ (01-03-2024)
‘…which is possible through flexicap and multicap funds.’ ‘The latter has a better balance between large, mid and smallcap stocks.’
Russians Devise Ways To Outwit US, Help India (01-03-2024)
Russian oil supplies to India will continue to flow unhindered and suppliers will come up with ways to sidestep secondary sanctions, a Russian official told Business Standard.
Court rejects bail plea of Jet Air’s Naresh Goyal (29-02-2024)
Jet Airways founder Naresh Goyal’s cancer was at a preliminary stage and not life threatening, a special court said here on Thursday while refusing to grant him interim bail on medical grounds. The court, however, permitted Goyal, arrested in a money laundering case, to undergo cancer treatment at a hospital of his choice for two months. Goyal (74), who is lodged in Arthur Road jail in central Mumbai, had sought to be released on interim bail to undergo treatment for cancer.