The Centre on Friday said it will sell ‘Bharat Rice’ in the retail market at Rs 29 per kg from next week to give relief to the common man and has also directed traders to disclose rice/paddy stock, as part of its efforts to control prices that have risen by around 15 per cent in the last one year. In a press conference, Union Food Secretary Sanjeev Chopra exuded confidence that these two measures along with the various restrictions of exports will help in cooling down the prices. Seeking to dispel market rumours, he categorically said the government has no plans to lift restrictions on rice exports any time soon.
Posts tagged Rediff
D-Street cheers Budget; markets close near record high (02-02-2024)
Among the Sensex firms, Power Grid, NTPC, Tata Steel, Tata Consultancy Services, JSW Steel, Wipro, Infosys, Tech Mahindra, Reliance Industries and Bajaj Finance were the major gainers. Axis Bank, HDFC Bank, Hindustan Unilever, Larsen and Toubro and ITC were among the laggards.
Tax devolution to states seen at 32%, but… (02-02-2024)
The Union government is projected to share about 32 per cent of central taxes with states during the financial year 2024-25 against the 15th Finance Commission’s recommendation of 41 per cent. The Revised Estimates (RE) for FY24, too, show a similar share of states in the central taxes at 32 per cent. In absolute terms, however, there has been an increase in the amount devolved to states compared to the Budget Estimates (BE) for FY24 at Rs 11 trillion.
GIFT City: Issuers in wait-and-watch mode for listing (02-02-2024)
With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
CLSA downgrades select realty stocks. Here’s why (02-02-2024)
CLSA has downgraded select real estate stocks and expects most counters from this sector to consolidate in the months ahead after the sharp run seen in them in the last few months. Most positive factors in terms of a pick-up in housing demand and office space absorption, it said, are already priced in. “We expect housing industry demand to grow around 12 per cent in 2024 and for large developers to outpace industry to grow at 15 – 20 per cent.
‘Clients are extremely cautious about spending’ (02-02-2024)
Debashis Chatterjee speaks about the overall demand environment and company’s strategy
‘Money lending has become prudent and conservative’ (02-02-2024)
‘We need to be far more careful given the fact that while this is group lending, it’s essentially unsecured.’
How much tax did the govt mop up in the past 2 years? (02-02-2024)
The income tax department has garnered about Rs 4,600 crore in taxes from 56 lakh updated I-T returns filed by taxpayers in the past two years, Central Board of Direct Taxes (CBDT) chief Nitin Gupta said. In a post budget interview to PTI TV, Gupta also said the I-T department has set up a demand management centre at Mysuru, Karnataka, which is focusing on disputed pending large tax demands of above Rs 1 crore. “We are continuously improving the services and creating litigation free environment. We have come out with a facility for updation of return.
‘2024 may be one of the best years…’ (02-02-2024)
‘Investors with higher risk appetite and longer horizon (more than one year) can invest in longer-duration funds like corporate bond funds, long-duration funds and gilt funds for maximum gain.’
How Sensex Has Changed Over Years (02-02-2024)
A quarter of the stocks have been replaced since 2019, marking the evolution of India’s economy.