BUSINESS
Centre releases Rs 95,082 cr to states as tax devolution
Poll bound states of Uttar Pradesh will receive Rs 17,056.66 crore, Uttarakhand Rs 1,063.02 crore, Punjab will receive Rs 1,718.16 crore and Goa is going to get Rs 367.02 crore along with all other states. The Government of India had released the first advance instalment of tax devolution amounting to Rs 47,541 crore to states on November 22, 2021.
Walmart invites Indian sellers to expand overseas via its US marketplace
The company said that its initiative expands on over 20 years of Walmart's engagement with Indian exporters. India is already one of Walmart's top sourcing markets, and the company has set an ambitious goal of exporting $10 billion from India each year by 2027. "Building on our long history of partnership with Indian exporters, Walmart is now offering Indian businesses the opportunity to further their export dreams as Marketplace sellers," Michelle Mi, Walmart Vice President, Emerging Markets and Business Development - Global Sourcing, said in a statement.
Job and income supporting measures to be watched in Union Budget
Some measures to support the rural economy, amid its weakening and the impending state elections, and any measures to revive the Residential Real Estate sector would be welcome.
Insurance sector waiting for 'Annaatthe' for IRDAI
The sectoral regulator has been functioning without a Chairman since May 2021 and it is business as usual at the Hyderabad headquartered office with the savings of over Rs 4 lakh per month as salary per month.
Canada's inflation rose to highest in 30 yrs
Prices at the gas pumps were up 33.3 percent year over year in December compared with a 43.6 per cent annual increase in November as the tightening of public health restrictions related to the Omicron Covid-19 variant weighed on demand.
Moody's upbeat on premium growth of Indian insurers
In its latest report on the Indian insurance sector, Moody's said that the Central government's plans to infuse capital into state-owned insurers, and listing of Life Insurance Corporation of India (LIC) will encourage disciplined underwriting of risks in general and life sectors.
HAL signs contract for export of ALH to Mauritius
Mauritius already operates HAL built ALH and Do-228 aircraft. With this contract, HAL and the government of Mauritius have further strengthened the long-standing business relations spanning over three decades.
UK-India FTA: Indian alcohol beverage producers urge Centre for level playing field
The CIABC has written to the Union Ministry of Commerce and Industry requesting it for a staggered reduction in effective Customs duty on spirits and wines under the proposed FTA.
The current Customs duty on white and brown spirits and wines is 150 per cent, it said. The confederation wants that if needed, duties should be brought down gradually in a staggered manner so that Indian manufacturers' interests are safeguarded.
Budget FY23: Reduce central excise on ATF to 5%, says IndiGo
According to Ronojoy Dutta, Whole Time Director and Chief Executive Officer, IndiGo, civil aviation provides efficient infrastructure critical for economic growth and employment in the country. "Yet civil aviation pays 21 per cent of its revenues to the government in indirect taxes with very little input credit. It is an unreasonable proposition to expect that the industry should earn a 21 per cent margin just to pay taxes to the government," Dutta said.
Bajaj Auto's Q3FY22 net profits decline 22% YoY to Rs 1,214 cr
The net profit during the period under review fell to Rs 1,214 crore from Rs 1,556 crore reported for the corresponding period of the previous fiscal.
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