BUSINESS
FCC announces $1.2 bn funds for broadband deployment in US
According to The Verge, the FCC calls this "the largest funding round to date", and notes 23 broadband companies will provide service to more than one million new areas. In addition, the FCC also introduced the Rural Broadband Accountability Plan, which will double the number of audits and verifications performed this year in comparison to 2021, the report said.
IPO-bound LIC's Chairperson, MD's tenure extended by one year
Prior to the latest extension, the Centre had extended the term of M.R. Kumar from June 30, 2021 till March 13, 2022, which is when he was to complete three years in LIC. This tenure extension comes at a crucial juncture when the company is expected to launch its IPO in the current financial year ending March. The listing of LIC is poised to be India's biggest IPO to date, with the government looking to raise up to Rs 1 lakh crore by selling shares.
Budget FY23: Kotak Securities sees incentives on agri commodities value addition
Five states set to go for Assembly polls is another reason why the agriculture sector could be in focus during the Budget. "Committed to increasing farmers' income, the government of India can come up with various plans in Budget 2022-23 in spite of the recent withdrawal of three farm laws late last year," it said. Further, it is expected that the Centre may announce something in order to achieve self-reliance in edible oil and pulses.
Budget FY23: Realty seeks increase in approval time frame for rental housing
NAREDCO President Rajan Bandelkar said the Centre should increase the deduction of interest on home loan for self-occupied house from taxable income to at least Rs 5 lakh in order to promote the ownership concept. Currently, interest on borrowed capital to acquire a house for rental purposes is allowed in full. However, in the case of self-occupied houses, interest is restricted to Rs 2 lakhs, the council said in a statement.
Industry eyes increased fund allocation for health in budget
"The Indian pharmaceutical industry is of strategic importance for the country, providing access to affordable quality medicines across the world. The pharmaceutical industry is science-based and knowledge-driven with scientific developments evolving at a rapid pace. The budget should spur innovation and set the pace for taking the pharmaceutical industry to the next level," Sudarshan Jain, Secretary General, Indian Pharmaceutical Alliance, told IANS.
MapmyIndia declines since listing gains; Q3FY22 net profits, revenue fall YoY
Making its market debut on December 21, 2021, with over 50 premium over its issue price at Rs 1,565 on the National Stock Exchange, it had evidently attracted eyeballs of the potential investors during the IPO subscription. Its issue price was Rs 1,033. Founded in 1995, headquartered in New Delhi, MapmyIndia builds digital map data, telematics services, location-based Software-as-a-Service and GIS AI technologies.
Tax free work from home allowances for salaried employees likely in Budget
Budget 2022 might also introduce tax-free work-from-home allowances for salaried employees. Higher deductions for such expenses would increase the take-home salary. Also, direct tax collection has been robust in FY22. This can allow for greater limits for tax deductions, William O' Neil India, a company that provides financial services and information said in a note.
Battered by Covid, common folk crave for a miracle budget
The customary presentation of the Union Budget on February 1 invariably raises expectations that there may be a cut here or there to help people save money or earn more. The Budget presentation is all about big numbers, lots and lots of money, multi-million-rupee projects and schemes, and policy stipulations, but all that common folk care about are announcements of relief measures.
Automakers to suffer from chip, labour shortages amid new Covid surges
The general theme for semiconductors in 2021 was shortages in mature process technology nodes. The IDC expects tight semiconductor supply to continue through the first half of 2022 as the industry builds up inventory to normal levels. One of the key supply constraints for the semiconductor market was in mature process nodes.
With Budget due on Tuesday and FII's as sellers, expect market volatility to remain
Markets in India rose on one day and fell on three days in a four-day trading week. BSESENSEX lost 1,836.95 points or 3.11 percent to close at 57,200.23 points while NIFTY lost 515.20 points or 2.92 percent to close at 17,101.95 points. The broader indices saw BSE100, BSE200, and BSE500 lose 2.90 percent, 2.93 percent, and 2.99 percent respectively. BSEMIDCAP was down 3.07 percent while BSESMALLCAP lost 3.43 percent.
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