NEW DELHI: Finance minister Nirmala Sitharaman is set to introduce a bill for a new direct tax law in the budget session, which will focus on simplification of the provisions, doing away with the ones that are redundant and attempt to make the language more layman friendly.The committee tasked with the revision, is deciding if…
China is making it harder for employees and specialised equipment needed for high-tech manufacturing in India and Southeast Asia to leave its borders, according to people familiar with the matter, a possible attempt to prevent companies from shifting production in anticipation of higher tariffs under US President-elect Donald Trump.Officials in Beijing have verbally encouraged regulatory…
MUMBAI: Startups and venture capital (VC) firms are seeking an easier tax regime and measures to boost availability of domestic capital in the upcoming Budget. Parity between foreign and domestic funds in terms of taxation is required to attract foreign investors to Indian alternative investment funds (AIFs), said Siddarth Pai, founding partner at 3one4 Capital…
Intel shares jumped as much as 9.5% on Friday morning in the US after a report on a tech news site said the beleaguered chipmaker is an acquisition target. SemiAccurate, a tech-focused newsletter founded by Charlie Demerjian, said it “read an email about a company trying to acquire Intel, whole” and that the “mystery company…
NEW DELHI: The Union Cabinet has approved a Rs 11,440 crore revival plan for debt-laden Rashtriya Ispat Nigam (RINL), according to a statement released on Friday.The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved the revival plan for RINL for Rs 11,440 crore, it added. The infusion includes Rs…
MUMBAI: Private banks continue to feel the pain of defaults in the microfinance segment. Kotak Bank and RBL Bank which declared their earnings on Saturday, both reported higher defaults in the microfinance segment.Kotak’s consolidated net profit for the quarter ended Dec 2024 was up 10% at Rs 4,701 crore from Rs 4,265 crore in the…
NEW DELHI: The International Monetary Fund (IMF) on Friday retained India’s growth forecast for 2024-25 at 6.5% but said that growth in the country has slowed more than predicted, led by a sharper-than-expected deceleration in industrial activity.“In India, growth is projected to be solid at 6.5% in 2025 and 2026, as projected in Oct and…
BENGALURU: Gurugram-based food delivery startup Zomato has pumped in Rs 500 crore into its quick commerce business Blinkit, bringing the total investment to Rs 2,800 crore since it acquired the company in 2022. The latest infusion comes on the heels of Zomato raising Rs 8,500 crore through a qualified institutional placement in November, which it…
MUMBAI: The country is poised for an economic rebound, driven by a resurgence in domestic demand and strong agricultural prospects, and the time is ripe to take steps to rekindle demand and investment, RBI’s latest ‘state of the economy’ report said. The report has been released less than a fortnight before the Budget amid growing…
HYDERABAD: Electric bus manufacturer Olectra Greentech Limited (OGL), part of Hyderabad-based Megha Engineering & Infrastructures Ltd (MEIL), on Saturday rolled out its new e-bus models equipped with the innovative blade battery technology at the ongoing Bharat Mobility Global Expo 2025 in New Delhi.The company showcased its new blade battery chassis, a redesigned 12-metre blade battery…
