BUSINESS
Corporate tax buoyancy lowest in five decades
The most critical situation is regarding the corporation tax buoyancy and income tax buoyancy which is the lowest in five decades and three decades, respectively. Thus, the decline in tax revenue in the current decade is more to do with corporate tax shortfall rather than others and this result is indeed an eye-opener, the report said. Against this background with corporate taxes now picking up significantly, it is likely that tax buoyancy will be overachieved.
40% tariff lines saw increase in import duties in last five years
In a post-Budget report, Credit Suisse said 2020 saw fall in import duties, mainly for agriculture, textiles, metals and autos. Several sectors have been on the government radar for a while, as seen in the imposition or hiking of import duties over the past few years. It added that much of the increase in FY22 spending was from spending induced by the pandemic: Food subsidy, NREGA spending and vaccines. Some, like higher fertiliser subsidy, should also roll off.
Leading e-commerce players unlikely to participate in CAIT's 'Seedha Samvad' programme
the trader's body cannot be the platform to have discussion when they themselves are the interested party in the whole process. Moreover, there already is a parallel stakeholders discussions which is taking place under the aegis DPIIT, Government of India. One such dialogue was recently organised under DPIIT and chaired by Additional secretary Anil Agarwal. The department has asked all the stakeholders to give their feedback on e-commerce policy in writing too.
HDFC's Q3FY22 standalone net profit up 11%
Besides, the Corporation's net interest income (NII) for the quarter ended December 31, 2021 rose to Rs 4,284 crore compared to Rs 4,005 crore in the previous year. In terms of consolidated results, the Corporation's profit after tax attributable to it increased to Rs 5,837 crore as compared to Rs 5,177 crore in the previous year. The lender said that as at end December 31, 2021, loans restructured under the RBI's Resolution Framework for 'Covid-19 Related Stress' was equivalent to 1.34 per cent of the loan book.
Fiscal Push: Budget FY23, value buying lift equity indices
Initially, the domestic equity market opened higher and remained in the green without any major correction. Globally, shares rose in Europe on Wednesday as investor sentiment continued to steady after a rout last month. Amongst sectors Realty, Consumer Durables, Banks, IT and healthcare indices rose the most. Consequently, the Sensex closed at 59,558.33 points, up by 695.76 points or 1.18 per cent.
Inflation at its highest in 2 years in Pakistan
The sectors that posted double-digit growth in prices when compared to January 2021 included perishable and non-perishable food items, energy, transportation, clothing, restaurants and health, reported Dawn news. While household and energy rates increased by 15.5%, the transport sector led the inflationary trend with an increase of over 23%, followed by 13% and 14% for perishable and non-perishable food items, restaurants and hotels 13% and clothing 12%.
Budget measures on bonus and dividend stripping may impact a class of investors
Union Budget 2022-23 figures pose ambiguities and asymmetric financial market reactions, Anand Rathi Share and Stock Brokers said in a report. The report said measures such as re-casting of off- and on-budget items and changes in the mechanism for resource transfer to states created ambiguities by making strict comparison of budget data for FY23 difficult with past years.
Budget's growth focus to face macro challenges
First, the ability of the government -- both central and states -- to spend 2.9 per cent of GDP on capex will face execution hurdles. Identification of projects, on-the-ground implementation, coordination with different agencies -- all typically lead to a smaller amount being spent than allocated.
Wheels India posts Rs 20.60 crore PAT for Q3
In a statement issued here, the company said it had closed the Q3 ended 31.12.2021 with a net profit of Rs 20.60 crore up from Rs 12 crore logged during the previous year corresponding period. Revenues for Q3 ended December 31, 2021, went up 57 percent to Rs 1,007.18 crore as compared to Rs 641.74 crore registered in Q3 ended December 31, 2020.
Coal shortage now at alarming levels, say aluminium producers
In its representation to the Ministry, the AAI has lauded the combined efforts by the Ministry of Coal and Coal India Ltd. in reviving domestic coal production, which has helped ease the coal supply crisis for the Power Sector. The steps undertaken by the Ministry increased the overall daily rakes dispatched from 242 rakes/day in September 2021 to 289 rakes/day in December 2021. This has drastically strengthened the coal stocks of the Power Sector to around 10 days.
Don't Miss
Advertisement