BUSINESS
Delhi HC orders status quo on Future-Reliance deal
Reserving its order in Amazon's interim plea to stop Future Group companies and officials from relying on the approvals given by the statutory authorities in relation to the deal, a single judge bench of Justice J.R. Midha said, "Immediate orders are necessary to protect the rights of the petitioner till the pronouncement of the reserved order."
India's merchandise exports rose over 5% YoY in Jan
As per the data, in January 2021, the value of non-petroleum exports rose by 11.37 per cent over January 2020 to $25.24 billion. "The value of non-petroleum and non-gems and jewellery exports in January 2021 was $22.40 billion as compared to $19.79 billion in January 2020, registering a positive growth of 13.21 per cent," a Ministry of Commerce and Industry statement said on the basis of preliminary data.
Union Budget 2021: 5 incentives home-buyers must be aware of
If you purchase the new apartment jointly — with your partner or spouse, then each of you is entitled to a deduction of Rs 2 lakh for interest funded by each of you, as explained above. In case you have a working son/daughter and the bank is willing to split the loan three ways, all three can avail deduction up to Rs 2 lakh each on self-occupied property.
Amazon, Flipkart, Microsoft to pay 2% extra tax now
As per a statement, it has also been clarified in the Budget that the tax will be applicable for consideration of sale of goods, irrespective of whether the provider owns the portal, and consideration of provisions of services irrespective of whether services are provided or facilitated by e-commerce operators.
Union budget 2021: Here is how leading politicians and industrialists reacted
Although the covid vaccination drive helped a bit in recovery, India’s economy faced a huge slump due to coronavirus and struggled despite the government introducing a pandemic relief plan. However, with the new budget and funds allocation, the health sector has got a boost to relaunch the fight against the pandemic.
Union Budget 2021: Around 19% hike in capital outlay for defence
Last year the capital allocation for the defence was pegged at Rs 1.13 lakh crore which has been raised to Rs 1.35 lakh crore, an increase of around 19%. The hike in capital outlay came in for praise by Defence Minister Rajnath Singh. “This is the highest-ever increase in capital outlay for defence in 15 years,” Rajnath Singh tweeted.
Share Market: Budget boosts bourses, Sensex rises over 1,000 points
Investors continued to cheer the fact that the budget did not announce any additional burden in terms of taxes or cess on citizens and corporates. Amongst sectors, buying was witnessed in Media, Banking and Auto indices. Banking stocks surged after the Finance Minister on Monday announced that two public sector banks will be privatised apart from the IDBI Bank in the upcoming financial year.
Sugar production rises by 25% Year-on-Year in first 4 months this season
The Indian Sugar Mills Association (ISMA) said on Tuesday in a statement that 491 sugar mills in operation as of January 31, 2021 produced 176.83 lakh tonnes of sugar from October 2020 till January 2021, compared with 141.04 lakh tonnes produced by 447 mills as of January 31, 2020.
$104 billion in stranded asset risk for oil, gas pipelines in India
While the Indian government has not announced any net zero targets, continued deflation in renewable energy price is making its economics of continued dependency on fossils untenable. India's energy sector has the highest exposure to nonperforming assets (NPAs), said the survey by Global Energy Monitor.
Union Budget 2021: No new tax measures positive for equities
The Budget is positive for the jewellery industry with customs duty on gold and precious metals decreased from 12.5 per cent to 10 per cent, this will enable volume growth. It is also positive for domestic leather and leather product manufacturers as customs duty increased to 10 per cent from nil last year. Better pricing will enable further volume growth, it said.
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