Category: Business

Business

Centre releases ₹1.73 lakh crore towards tax devolution to states

January 10, 2025 admin

Union Finance Minister Nirmala Sitharaman | Photo Credit: ANI The Centre on Friday (January 10, 2025) released tax devolution of ₹1.73 lakh crore to the state governments to accelerate capital expenditure and finance welfare activities. “A higher amount is being devolved this month to enable states to accelerate capital spending and finance their development and…

Business

Industrial output grows 5.2% in November

January 10, 2025 admin

Photo used for representation purpose only. | Photo Credit: The Hindu India’s industrial production growth accelerated to 5.2% in November this year, mainly due to good show by manufacturing sector, according to official data released on Friday (January 10, 2025). The factory output, measured in terms of the Index of Industrial Production (IIP), witnessed a…

Business

H Lakshmanan, a trusted pillar of the TVS legacy, passes away at 92

January 10, 2025 admin

H Lakshmanan (92), former Executive Director of Sundaram-Clayton | Photo Credit: Special Arrangement H Lakshmanan (92), former Executive Director of Sundaram-Clayton and a towering figure in the TVS family for nearly seven decades, passed away on Friday due to age-related ailments. He is survived by his wife, a son, and two daughters. Beginning his career…

Business

Vodafone exits Indus Towers; sells shares worth ₹2,800 crore; clears ₹890 crore dues

January 10, 2025 admin

Vodafone held 3% stake through its indirect wholly-owned subsidiaries Omega Telecom Holdings Private Limited and Usha Martin Telematics Limited. File | Photo Credit: Reuters “British telecom firm Vodafone has sold its entire stake in Indus Towers for ₹2,800 crore,” the telecom infrastructure firm said on Friday (January 10, 2025.) “Vodafone has sold 7.92 crore or…

Business

SpiceJet to unground 10 more aircraft by mid-April

January 10, 2025 admin

Photo used for representation purpose only. | Photo Credit: Reuters Low-cost carrier SpiceJet on Friday (January 10, 2025) said it will unground 10 more aircraft by mid April. Since raising ₹3,000 crore through a Qualified Institutional Placement (QIP), the airline has added 7 aircraft and ungrounded three of its planes that needed maintenance allowing the…

Business

SC stays GST notices worth over ₹1 lakh crore against online gaming firms for tax fraud

January 10, 2025 admin

Image for representation only | Photo Credit: PTI The Supreme Court on Friday (January 10, 2025) stayed showcause notices issued by GST authorities worth over ₹1 lakh crore to online gaming companies and casinos over alleged tax evasion. A bench of Justices J.B. Pardiwala and R. Mahadevan said the matters required hearing and all proceedings…

Business

Punjab Government rejects Centre’s draft policy on agricultural marketing

January 10, 2025 admin

Representational image only. File | Photo Credit: The Hindu The Punjab Government has formally rejected the Centre’s draft policy on agricultural marketing, asserting that it is an attempt to bring back the “contentious” provisions of the three farms laws repealed in 2021 after a year-long protest by farmers. The State Government noted that since agriculture…

Business

India’s economy projected to grow 6.6% in 2025, supported by strong private consumption, investment: UN

January 10, 2025 admin

The Indian economy is projected to expand by 6.6% in 2025, primarily supported by robust private consumption and investment, according to a United Nations report that said economic growth in South Asia is expected to remain robust this year mainly driven by the “strong performance” in India. The UN World Economic Situation and Prospects 2025,…

Business

Appliances industry seeks second round of PLI, tax rationalisation to boost competitiveness

January 10, 2025 admin

Image used for representative purpose only. The appliances and consumer electronics industry has urged the government to bring a second round of the Production-Linked Incentive (PLI) scheme for high-value components like compressors and motors and rationalise taxes. It has also asked for reductions in tariffs on imports, which will help to make the products competitive…

Business

Markets give up early gains; trade lower on foreign fund exodus

January 10, 2025 admin

From the 30-share Sensex pack, Tata Consultancy Services jumped 4% after the IT services company reported an 11.95% jump in December quarter net profit to ₹12,380 crore. File | Photo Credit: Special arrangement Benchmark indices Sensex and Nifty rebounded in early trade on Friday (January 10, 2025) after two days of decline but soon succumbed…

Business