The Indian Chamber of Commerce (ICC) has urged the government to rationalize customs duties in sectors like steel, solar batteries, aluminum, and lithium cells to enhance domestic manufacturing. Ahead of the Union Budget for 2024-25, ICC President Ameya Prabhu highlighted the need for protective measures to support domestic industries and reduce import dependency.
British inflation remained steady at 2.0% in June, defying expectations of a slight decrease. Strong services inflation was at 5.7%, sparking uncertainty over the timing of the Bank of England's potential interest rate cut. The BoE, concerned about persistent price pressures, is expected to announce its decision on rates on Aug. 1. There are predictions of a 50% chance of a rate cut to boost the UK economy following the recent election.
As of June 2024, the mutual fund boasts assets under management (AUM) of Rs 5.16 lakh crore. According to a report by Motilal Oswal Financial Services, here are the top 10 stock holdings of the fund house.
Unemployment Crisis Issue Budget 2024: Crores of Indian youth face unemployment, and regardless of the root causes, Finance Minister Nirmala Sitharaman is expected to address the nation’s skilling issues in her Union Budget 2024 announcement on July 23. India is on an ambitious path to transform its economy into a $10 trillion powerhouse by 2047, a goal that hinges on harnessing its greatest asset: a large, skilled workforce.
Several Ajit Pawar-led NCP leaders from Pimpri Chinchwad joined Sharad Pawar-led NCP-SCP at his residence on Wednesday in Pune.
The Narendra Modi-led NDA government on Tuesday reconstituted the NITI Aayog, with four full-time members and 15 union ministers, including from BJP allies, as either ex-officio members or special invitees.
Republican presidential candidate Donald Trump suggested that Taiwan should pay the U.S. for defence. He claimed the country does not provide anything in return, causing shares of Taiwanese chip manufacturer TSMC to drop. Taiwan's Premier defended the country's commitment to bolstering its own defences and strengthening its relationship with the U.S. Tensions between Taiwan and China persist, with the U.S. playing a critical role in supporting Taiwan's security.
Infosys faces renewed criticism for its faulty income tax filing portal, developed for the Income Tax Department. Chartered accountants nationwide struggle with glitches as the July 31 deadline nears. Since its 2021 launch, the portal has been plagued by technical issues, prompting public outcry. A Bengaluru CA humorously called out Infosys co-founder Narayana Murthy, suggesting the team work an extra hour weekly to improve functionality.
The fund manager strategically adjusts the stocks in the portfolio to optimize returns. Here are the stocks recently added by seven mutual funds, as reported by Mutual Fund Insight from Nuvama.4o
ADB maintains India's GDP forecast at 7%, expecting agricultural boost from favorable monsoons. IMF, RBI predict 7% and 7.2% growth. Services and public investments drive housing; inflation at 4.6%. Developing Asia grows 5%. Q4 FY24 sees strong services, manufacturing demand, bolstered by fiscal strength. Weather, geopolitical risks persist. Caucasus, Central Asia support regional growth; merchandise exports lag.
Retirees prefer SWPs in hybrid and large-cap mutual funds for stable, tax-efficient monthly income. Units sold offer balanced withdrawals, reflecting market movements. Avoid volatile sectoral funds. SWPs provide long-term tax benefits, unlike high-tax dividends and TDS on amounts over ₹5,000. Flexible SWP activation can be based on need, managed through mutual fund houses.
SuperKalam claims that its AI automation improves answer quality through guided examples and model answers.
A "dry day" is when the sale and consumption of alcohol are legally restricted, common in many countries like India, to honor religious or cultural events and during elections. Muharram 2024 begins on July 8th, marking the start of the Islamic lunar calendar. It's a significant time for Muslims, especially on Ashura (July 17th), a day of mourning and reflection. Dry days are observed in Mumbai, Delhi, and many other cities.
Anant Ambani Radhika Merchant wedding guest Sara Tendulkar wears dazzing lehenga
Experts discuss recent trends in the commodity market and expectations for the upcoming budget. Gold and silver prices fluctuate as market awaits import duty changes. Insights shared on market direction and potential impacts on precious metals.
Union Budget 2024 for Railways: The Indian Railways, symbolizing the nation's "desi essence" with its affordability and extensive network, remains central to India's transportation. The NDA government retained Ashwani Vaishnaw as Railways Minister to advance its modernization vision, including expanding Vande Bharat trains. Despite its modern symbolism, Vande Bharat faces criticism and reduced speeds due to outdated tracks.
Budget 2024: ET Online conducted a survey ahead of the Budget to gauge public expectations, receiving input from nearly 9,500 Economic Times readers. Results showed over 56% prioritize income tax reduction, reflecting concerns over economic stability following the BJP's diminished mandate. Addressing the job crisis was a priority for over 37%, while only 4% favored cash transfers to farmers and 2% suggested increased Railway funding.
A Delhi court ordered an insurance company to compensate the parents of Sidhharth Sharma, who died in a hit and run in 2016, with Rs 1.98 crore. The court found the father of the minor driver negligent for allowing his son to drive recklessly, leading to Sharma's death. The court directed the insurance company to pay the compensation along with interest, holding the father's company liable for the amount.
Joanne Goh of DBS Bank highlights public capex's role in driving economic and earnings growth, favoring small and midcaps. India’s 7.8% GDP growth, stable global trends, rising domestic consumption, and strong emerging market inflows boost sentiment. Yet, elevated valuations, geopolitical uncertainties, and private consumption dynamics present fiscal policy challenges.
FDs with higher interest rates: In the last week, a number of prominent banks have launched special fixed deposit accounts offering increased interest rates. Let's examine these special FD schemes more closely to gain a better understanding of the investment options available to investors.
Favourable demographic dividend, rising income levels, acute housing shortage and the government’s push for affordable housing via several schemes suggest housing loan penetration should continue to inch up, Nomura said.
Driven by overconfidence and market euphoria, new investors direct 33% of mutual fund inflows to thematic funds (2.25 crore folios). This risky trend contrasts stable diversified funds, advised for novices. Nilesh D Naik highlights higher volatility and maximum drawdown in these funds, recommending them for experienced investors familiar with market cycles.
The Karnataka cabinet approved a bill mandating 50% reservation for locals in management jobs and 75% in non-management jobs in the private sector, along with 100% reservation for locals in "C&D" grade government jobs. Industry leaders, including Mohandas Pai and Kiran Mazumdar-Shaw, criticized the bill as discriminatory and potentially harmful to the tech industry.
Bangladesh has announced the indefinite closure of all public and private universities following deadly protests by students against a government job quota system, resulting in at least six deaths and numerous injuries. The protests stem from a 30% job reservation for family members of freedom fighters from the 1971 War of Independence, sparking widespread anger among students facing high youth unemployment rates. The government crackdown has seen violent clashes and arrests, escalating tensions across the country.
