Author: Finance Khabar

Hyderabad: Finance Minister Nirmala Sitharaman said that at present there is no government planning to abolish income tax related exemptions and concessions. Regarding the new tax system, he said that the aim is to promote simple, exempt and low rates of tax. Sitharaman said that the government has taken a step forward in this direction. The new system includes some exemptions and eliminates some exemptions. Our effort is to gradually eliminate all exemptions and taxpayers have to pay tax at a lower rate. A new tax system was introduced in this budget, under which the tax rate has been reduced,…

Dubai: The head of the International Monetary Fund (IMF) said on Sunday that the corona virus epidemic this year could hurt global economic growth, but could see a rapid economic recovery after that. IMF managing director Kristalina Georgieva told the ‘Global Women’s Forum’ in Dubai, “(growth rate) may decline, we estimate the decline to be around 0.1–0.2 percent.” He said that more than 1,600 people have already died from this disease and its full effect depends on how quickly the disease is controlled. Georgiva said, “I would advise everyone not to reach any conclusion in a hurry.” Much is still…

New Delhi: The government has decided to infuse Rs 1,300 crore into the public sector Indian Export-Export Bank (Exim Bank) for its business growth. Last year, the government increased its authorized capital in the bank from Rs 10,000 crore to Rs 20,000 crore. As per the budget documents presented in Parliament this month, “Exim Bank’s contribution to raise the paid-up capital to its authorized capital Provision has been made (Rs. 1,300 crore). “This is Rs 350 crore more than the provision made by the government for the current financial year. The government had made a provision to infuse Rs 950…

New Delhi: Realty company DLF plans to raise up to Rs 2,000 crore by selling some commercial plots. The company has given this information in a presentation to the investors. The company said that it will sell these plots to existing joint venture partners or new partners. The company said it had a net debt of Rs 4,866 crore at the end of the December quarter. These deals will help him reduce debt. DLF said that it is committed to further reduce debt in the near future. The company said, “Sales of certain commercial plots to existing partners or new…

New Delhi: The Financial Year of the Reserve Bank of India and the Central Government can be similar. The central government’s financial year starts from April 1 and ends on March 31 while the RBI’s financial year starts from July 1 and ends on June 30. In such a situation, the RBI board has also recommended the RBI to start the financial year from April 1. A proposal will be sent to the central government to get approval in this regard. According to media reports, according to an RBI official, these changes can be implemented with the financial year 2020-21.…

New Delhi: The country’s largest carmaker, Maruti Suzuki India, will take on the aggressive competition in the face of increased competition due to new companies. A top company official made this comment. Maruti Suzuki has a 50.59 percent share in the domestic passenger vehicle market from April to January in the current financial year. Kenichi Ayukawa, the company’s managing director and chief executive officer said, “I am not getting defensive, I am being aggressive. If their products are good, we will try to leave them behind. “Competition in the domestic market is intensifying with the arrival of new companies like…

New Delhi: Oil India may go to TDSAT this week against the DoT’s demand to provide around Rs 48,500 crore as the previous arrears of additional bandwidth capacity. The company’s chairman and managing director Sushil Chandra Mishra gave this information. This capability was leased by the company to third parties. Other non-telecom companies can also approach the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) for similar demands. GAIL India Limited, Power Grid Corporation and Gujarat Narmada Valley Fertilizer & Chemicals Limited can go to TDSAT. Rs 1.83 lakh crore has been sought from GAIL India, Rs 21,953.65 crore from Power…

New Delhi: Gold imports in the country declined by nearly 9 percent to $ 24.64 billion (Rs 1.74 lakh crore) during April-January in the current financial year. The import of the metal was $ 27 billion. The country’s trade deficit was reduced to $ 133.27 billion in the April-January period from a decrease in gold imports as compared to $ 163.27 billion in the same period a year ago. The yellow metal imports have been declining since July last year. . However, there was positive growth in October and November last year. There was a decline of about 4 percent…

New Delhi: In the absence of any major activities this week on the domestic front, further moves in the stock market will depend on global trends. This week, which has a limited business day due to holidays, may also reflect the impact of news related to the corona virus on the market sentiment. The stock markets will remain closed on Friday on the occasion of Mahashivaratri. In this way, business will take place for four days. Siddharth Khemka, head (retail research), Motilal Oswal Financial Services Ltd said, “Going forward, the market will remain in a limited range in the absence…

New Delhi: South Korea’s automobile manufacturer Hyundai has released the first teaser image of the i30 facelift. The new teaser image shows the N line model, with revamped grille, redesigned bumpers and new LED headlights. However, the car’s LED headlights and design resemble the company’s Next Generation i20 hatchback. The Hyundai i30 will get new rear bumper and taillights as well as new alloy wheels. At the same time, a new digital instrument cluster and 10.25 inch infotainment touchscreen system will be available in its cabin. The refreshed design in the European market will feature i30 N hot hatch, i30…

Market capitalisation increased for eight of the top 10 companies New Delhi: Market capitalisation of eight of the country’s top 10 companies increased by Rs 1.09 lakh crore last week. Reliance Industries was the biggest gainer in this. Apart from this, the market capitalisation (M-cap) of Tata Consultancy Services (TCS), Hindustan Unilever, ICICI Bank, Bharti Airtel and Bajaj Finance has also increased. HDFC Bank and HDFC were the only companies in the week ended on Friday with a decline in market capitalisation. During this period, the market capitalisation of Reliance Industries increased by Rs 33,534.56 crore to Rs 9,42,422.58 crore.…

New Delhi: Investments in stock market mutual fund schemes declined by 50 per cent to around Rs 12,000 crore in the October-December quarter as compared to the previous quarter. The main reason for this decline is the slowdown in economic growth and investor concerns over stock valuation. This reduction in investment was observed in all categories of equity funds, including large companies (large caps), mid-cap companies (M-cap), small-cap stocks (small-cap) and dividend-related schemes. According to a Morningstar report, the total investment in stock market-linked mutual fund schemes stood at Rs 11,837 crore in the July-September quarter of Rs 23,874 crore.…

Kolkata: Tea Board chairman PK Bezbaruah on Sunday said that the board should adopt a liberalized system where the private sector can also enter. He said that the role of the Tea Board should be limited to issuing licenses only after examining the financial capacity of the concerned units for opening the auction center. “This is the appropriate time when the Tea Board should disassociate itself from the functioning of the auction system and be the only license-issuing body,” said Bezbaruah, adding that the current auction scenario in North India reflected the failure of the system. Does because it has…

New Delhi: A severe outbreak of Corona virus in China may cause shortage of some much needed medicines in India. Industry organization FICCI has said that if the supply of raw materials from China is affected for two months, then the production of certain essential and commonly used medicines like paracetamol, ibuprofen, some antibiotics and diabetes drugs in India will be adversely affected. May be required. The production and supply of smartphones and solar devices is already affected due to the virus. FICCI has said that Indian pharmaceutical companies usually keep a two-month stock of raw materials, so there is…

New Delhi: D Mart founder Radhakishan Damani has become the second richest person in the country after Mukesh Ambani. In the Forbes Real Time Billionaire Index, he has surpassed businessmen like Shiv Nadar, Uday Kotak, Gautan Adani. His total assets are $ 17.9 billion. On February 14, Radhakishan Damani’s assets increased by a total of $ 96 million (675 crore). Mukesh Ambani has total assets of $ 57.9 billion. The Damani family announced the sale of a 2.28 per cent stake in Avenue Supermart. On Friday, the company’s share price reached an all-time high of Rs 2599. Lakshmi Mittal has…

New Delhi: Former Finance Secretary Subhash Chandra Garg has said that the 2020-21 budget lacks ‘effective measures’ to stimulate economic growth. Garg wrote in a blogpost that it is largely intended to handle the deteriorating economic and fiscal situation in the Budget 2020–21 spending proposal. The title of this blog is- ‘Will the Budget 2020-21 spending proposals accelerate growth or improve redistribution’. He wrote, “It does not seem that the budget is effective in aiming to accelerate growth and create a faster environment.” Measures have been taken. It lays down spending on road, railways and metropolitan infrastructure as key aspects…

New Delhi: State Bank of India President Rajnish Kumar said on Saturday that banks will have to ‘pay the price’ if a telecom company goes bankrupt. Earlier on Friday, the Supreme Court had made it clear that telecom companies would have to pay statutory dues of Rs 1.47 lakh crore. Mr. Rajnish Kumar said that the bank is monitoring the developments ahead. When Kumar was asked what effect it would have on banks if a telecom company headed towards bankruptcy, he said, “If there is a negative impact on any enterprise, then it will have an impact on a broader…

Mumbai: Describing India as a global ‘economic and social’ power, Portugal’s President Marcelo Ribello D’Souza said on Saturday that his country wants to prioritise the shared use of the two countries’ expertise in various sectors of the economy. D’Souza, who is on a visit to India, addressed a meeting of entrepreneurs from both countries organised here under the banner of the ‘Indo-Portugal Business Forum’ by the Confederation of Indian Industry (CII), ASSOCHAM and FICCI. The meeting was also attended by Portugal’s Foreign Minister Augusto Santos Silva, Minister of Internationalization Department of the Republic of Portugal, Yurico Brilhante Dias, Union Minister…

New Delhi: The country’s largest carmaker Maruti Suzuki has launched a new facelifted version of its popular car Maruti Ignis in the domestic market by updating it with BS6 engine. Adorned with a very attractive look and strong engine capacity, the starting price of this small car has been fixed at Rs 4.83 lakh (ex-showroom, Delhi). The company has made several changes to the new Ignis, making it far superior to the previous model. Let us know that these updates made in Maruti Ignis have increased the price of the car from Rs 4,000 to Rs 25,000. It depends on…

New Delhi: Debt-laden telecom company Vodafone Idea said on Saturday that the company was evaluating how much it could pay back under adjusted gross income (AGR). However, the company said that the decision to continue business in India would depend on the result of a petition filed for amendment in the Supreme Court’s decision. Vodafone Idea told BSE, “the company is currently evaluating the amount of arrears it can pay to the Department of Telecommunications based on AGR.” Vodafone Idea said, “The company offers to repay the assessed amount in the next few days.” Vodafone Idea Limited has a total…