Posts tagged Rediff
Direct tax mop-up rises 21% to Rs 4.62 lakh cr (18-06-2024)
Net direct tax collection grew 21 per cent to over Rs 4.62 lakh crore so far this fiscal, on higher advance tax payment by corporates.
Fitch raises India’s FY25 growth forecast to 7.2% (18-06-2024)
Fitch Ratings on Tuesday raised India's growth forecast for the current fiscal to 7.2 per cent, from 7 per cent projected in March, saying elevated consumer confidence will drive spending, besides increased investments. In June update to its global economic outlook report, Fitch said it expects inflation to decline to 4.5 per cent by end of this year and RBI to cut policy interest rates by 25 basis points to 6.25 per cent.
Bengaluru takes top spot in electric car registrations (18-06-2024)
Bengaluru outpaced Mumbai, Delhi, and Pune in 2023 to become India's leading city for electric car registrations. The city's tech-savvy workforce, increased acceptability, zero road tax, subsidised electricity for EV charging, and a wide charging station network contributed to this surge. Electric car registrations in Karnataka's capital surged more than threefold in 2023 to 8,690 units, overtaking the growth witnessed in the other three cities, according to data from Jato Dynamics
Markets hit fresh record highs; Sensex climbs 308 pts (18-06-2024)
Among the 30 Sensex companies, Power Grid, Wipro, ICICI Bank, Titan, Mahindra and Mahindra, Axis Bank, HDFC Bank, Infosys, JSW Steel and State Bank of India were the biggest gainers. In contrast, Maruti, UltraTech Cement, Tata Steel, Tata Motors, ITC and Tata Consultancy Services were among the laggards.
Employment in informal sector below pre-Covid level (18-06-2024)
After adding 11.7 million workers in the October 2022-September 2023 period from the pandemic lows in April 2021-March 2022, total workers employed in the vast informal sector in India - at 109.6 million - still remains below the pre-pandemic period.
Car dealers seek Siam’s help amid inventory woes (18-06-2024)
The Federation of Automobile Dealers Associations (Fada) has raised concerns over the rising inventory levels of four-wheelers at dealerships which have now reached a 60-day stockpile or around 550,000 units. This situation could mean a significant financial burden on dealerships due to the additional interest cost for the extended holding period. These 60-day inventory levels are nearing the 2018-19 levels when inventory days had approached 70 days, leading to the closure of around 282 passenger vehicle dealerships.
What Star Rating Does Your AC Have? (18-06-2024)
Since 2008, the Bureau of Energy Efficiency is running a star rating programme, under which electric equipment are rated according to their efficiency. This in turn helps the consumers save electricity.
India AI mission to be priority for telecom ministry (18-06-2024)
Many who track the ministry and the technology sector closely believe that the space won't see much impact on the policymaking side, but the gestation time for regulations might get long, as now there could be a wider consensus-building exercise on policy matters under a coalition government.
Price hike, capex moderation key Bharti Airtel stock (18-06-2024)
From its lows this month, the stock of Bharti Airtel is up 14 per cent. The gains for the telco have come on the back of expectations that market share consolidation, tariff hike and lower capex should boost margins and profits. While the company is a key player in the Indian market, it also has a leadership position in major markets of Africa.
Balancing green concerns with soaring energy demand (18-06-2024)
Rising energy demand could tilt India's energy basket towards fossil fuels from coal to oil, natural gas.