BUSINESS
GST collection for Oct at over Rs 1.30 lakh cr
The gross GST revenue collected in the month of October 2021 stood at Rs 1,30,127 crore, which is a growth of 24 per cent over the GST revenues in the same month last year and 36 per cent over 2019-20. The revenue for October is also the second highest ever since introduction of GST, second only to that in April 2021, which is related to year-end revenues.
10-minute grocery delivery app Zepto raises $60 mn
Zepto said that with its network of �cloud stores' or micro-warehouses, it is able to consistently deliver in 10 minutes through a combination of technical and operational excellence. Aadit Palicha and Vohra, both computer science graduates from Stanford University in the US, have built Zepto this year with backing from institutional investors like Glade Brook Capital, Nexus and Y Combinator, along with individual investors.
Need for structural changes in economy and future of energy: Rosneft CEO
In his address, Sechin said the International Energy Agency estimates that, by 2050, about half of the technologies needed to achieve low-carbon development goals will still not be ready for deployment. The energy transition must be synchronized with the supply of energy, reliable supplies of metals and other materials, technological development, and the adjustment of consumer behavior.
India Sweden Innovation Day 2021: Concrete roadmap to create circular economy
The main highlight of the event was the implementation of the partnership of Vinnova, Sweden's Innovation Agency, the Indian Department of Science and Technology as well as The Department of Biotechnology. The stakeholders of both the nations agreed to invite the call for proposals that covers the important areas within circular economy.
Global cues lift sentiments; equity indices trade higher
At 9.45 a.m., the 30-scrip sensitive index traded at 59,661.74 points, up 35 4.81 points or 0.60 per cent. The Sensex opened at 59,577.48 points from its previous close of 59,306.93 points. Besides, the NSE Nifty50 traded at 17,794.85 points, higher by 123.20 points or 0.70 per cent. It opened at 17,783.15 points from its previous close of 17,671.65 points.
Fuel price rise continues unabated, petrol over Rs 115/ltr in Mumbai
Accordingly, the pump price of petrol in Delhi increased by 35 paise per litre to jump to Rs 109.69 a litre while diesel prices also increased by the same margin to reach Rs 98.42 a litre, according to a price notification of state-owned fuel retailers. In the financial capital Mumbai, petrol prices have now risen to Rs 115.50 per litre while diesel to Rs 106.63 a litre, the highest among all metros.
Co-op movement to play huge role in achieving $5 tn economy: Amit Shah
Amul was started in 1946 as a cooperative movement in Anand with the guidance of Sardar Vallabhbhai Patel and cooperative leader Tribhuvandas Patel, the founder of Kheda District Co-operative Milk Producers' Union, popularly known as Amul Dairy. Amul was an acronym for Anand Milk Union Ltd then. Now, it is a part of the Gujarat Cooperative Milk Marketing Federation (GCMMF), selling its dairy products with the brand name 'Amul'.
China's push to redistribute wealth unsettles luxury goods industry
Shoppers in mainland China are vital to brands such as LVMH, Hermes and Gucci. Last year, as the coronavirus pandemic took hold worldwide, China's case numbers remained relatively low and the country's share of the global luxury market roughly doubled, according to consultancy Bain.
US announces deal with EU to resolve steel, aluminium tariff disputes
"This agreement is significant in that it will reduce costs for American manufacturers and consumers," Raimondo said, adding the cost of steel for manufacturers in the US downstream industries has more than tripled in the past year, reports Xinhua news agency.
Same inflation but different burdens; urban poor suffer the most
According to a Crisil analysis of the impact that inflation on different segments of the population, poorer segments are facing the pressure from price rise more due to high prices of fuel and food, which have the highest weights for the bottom 20 per cent. Also, urban inflation in these two commodity groups was higher than that in the rural areas.
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