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States’ capex pace strong till Nov; may slow in Q4
Improved revenues and a resolve to pump-prime the economy helped state governments to front-load their capital expenditure. Data gathered by FE of 18 states showed that these states reported a combined capex of Rs 2.1 lakh crore in April-November of FY22, up 66% on the year, compared with a decline of 34% witnessed in the corresponding period of FY21.The combined capex of all states need to grow 44% on year to achieve their combined capex target of Rs 7.23 lakh crore for FY22.Conventionally, cap -
Data monitor: Port volumes fell sequentially in November
Major ports’ volumes fell marginally by 1% m-m to ~59.5mnt in Nov ‘21, registering a CAGR of +1.3% over Nov 2019.Iron ore and container volumes declined 8% m-m and 4.7% m-m respectively while coal volumes rose 13% m-m.Container volumes at 903k TEUs were down sequentially (-4.6% m-m), but up at a CAGR of 8.6% over Nov 2019 (on a weak Nov’19 base).In tonnage terms, container volumes recorded a strong 10.3% CAGR over Nov 2019 (-4.7% m-m). -
Bank frauds of over Rs 3cr will need panel nod for CBI probe
The Central Vigilance Commission (CVC) has amended rules to mandate that all bank fraud cases of over Rs 3 crore will be referred to an expert panel to decide if an investigation by the Central Bureau of Investigation (CBI) is warranted in what is seen as a fresh attempt to comfort bankers. Earlier, only fraud cases of over Rs 50 crore in public sector banks were referred to this panel. -
MSP’s tilt in favour of oilseeds see 23% increase in acreage of mustard, wheat sown area decreases
The minimum support price’s (MSP) tilt in favour of oilseeds has shown results with the acreage of mustard reporting a 23% increase this year, so far, over its sown area in the corresponding period last year. It is expected to increase a bit further as sowing in the ongoing Rabi (winter crop) season continues till the end of this month. -
Budget 2022: CREDAI seeks tax sops to boost housing demand; hike in deduction limit on home loan interest
He said the government should consider increasing the tax rebate for homebuyers significantly. -
Budget 2022: Assocham pitches for permanent refinance window for NBFC sector
The government will present the Budget for fiscal 2022-23 on February 1. -
Lost your Aadhaar Card? Here’s how to find it online
The Unique Identification Authority of India (UIDAI), which issues the Aadhaar number, previously offered the option of downloading an e-version of the card to print yourself. -
Influencer marketing: Here's how it has evolved over the years, explains Suhail Patel
Influencer marketing is a notion that has been around for a long time. -
Extraordinary zeal of entrepreneurs needs to be matched with domain expertise, says Gajraj Singh
Such innovators and entrepreneurs need a much better connection with the national and global ecosystem of technologies and techno-economic perspectives. -
Businesses looking at new curbs as every sector affected due to COVID-19
Another area where stress could develop as a result of part-time company activity is the banking and financial sector. -
Kawasaki unveils Limited Edition Z-series motorcycles to celebrate 50 years of Z-line, details here
Kawasaki unveils Limited Edition Z-series motorcycles to celebrate 50 years of Z-line, details here -
CREDAI seeks tax sops to boost housing demand; hike in deduction limit on home loan interest
Realtors apex body CREDAI has sought various tax sops to boost housing demand, including increase in the deduction limit for interest on home loans to Rs 5 lakh from the current Rs 2 lakh.In its Budget recommendations to the Finance Ministry, CREDAI which has around 13,000 developer members, has also sought infrastructure status for the sector and change in definition of affordable housing.CREDAI’s National President Harshvardhan Patodia expects the upcoming budget to give much-needed impe -
Omicron effect: IndiGo to cancel around 20% flights, waives change fees
IndiGo on Sunday said it will cancel around 20 per cent of its flights because of the surge in Covid cases driven by the Omicron variant and waive change fees till March 31 in response to customer needs. "IndiGo is waiving change fees and is offering free changes for all new and existing bookings made up to January 31, for flights up to March 31, 2022," the airline said in a press release. -
Extraordinary zeal of entrepreneurs needs to be matched with domain expertise, says Suhail Patel
Such innovators and entrepreneurs need a much better connection with the national and global ecosystem of technologies and techno-economic perspectives. -
First Jan Shatabdi connecting the seven sisters of India flagged off by Tripura CM
This initiative will play a significant role in bringing people of the two states closer -
New launches in Pune surge 48.5%, inventory comes down to a 7-year low in 2021
When comparing the number of launches in the second half of the year to the same period the previous year, the fresh supply increased by 61% in the six months ended December 2021. -
First Jan Shatabdi connecting the seven sisters of India commences
The first Agartala-Jiribam Jan Shatabdi express connecting Tripura with Manipur was flagged off by Tripura’s Chief Minister Biplab Kumar Deb on January 8. -
AC, refrigerator, home appliances prices to go up 5-10%; brands blame rising input costs
Prices of air conditioners and refrigerators, among other home appliances, have shot up in the new year. -
Interest calculator soon in GSTR-3B for delayed monthly tax payment
GST Network, which provides technology backbone for the indirect tax regime, will shortly release interest calculator functionality in monthly tax payment form GSTR-3B to help taxpayers in calculating interest for delayed tax payment.This new functionality will compute the minimum interest applicable on the basis of the values declared by the taxpayers in GSTR-3B for a particular tax period, GSTN said in an advisory.“To facilitate taxpayers in doing self-assessment, the new functionality o -
Deposits in Jan Dhan accounts cross Rs 1.5 lakh crore
Deposits in bank accounts opened under the Jan Dhan scheme, launched about seven and half years ago by the government, have crossed the Rs 1.5 lakh crore mark. As per the finance ministry data, of the total 44.23 crore such accounts, 34.9 crore were with the public sector banks, 8.05 crore with regional rural banks, and the rest 1.28 crore with private sector banks. -
Taxmen to give ‘reasonable time’ to biz to explain reasons for mismatch in GSTR-1, 3B before recovery action
Tax officers will give reasonable time to erring business to explain reasons for mismatch in turnover reported in sales return GSTR-1 and tax payment form 3B before initiating recovery action for short payment or non-payment of taxes.Apex indirect tax body CBIC has issued guidelines on recovery proceedings and said that taxmen would give a “reasonable time” to businesses to explain the reasons for such mismatch.As per the changes in the GST law effective January 1, GST officers were -
GDP numbers show economy back at pre-COVID size but deep pain in lower rungs
The real GDP growth of the current year has been estimated at 9.2 percent which is a tad lower than the RBI’s estimate of 9.5 percent -
Businesses to get reasonable time to explain reasons for mismatch in GSTR-1, 3B
Tax officers will give reasonable time to erring business to explain reasons for mismatch in turnover reported in sales return GSTR-1 and tax payment form 3B before initiating recovery action for short payment or non-payment of taxes. -
ITR filing FY21: Are you exempted from paying fee for filing belated tax returns? Check details
The last date to file the ITR for the financial year 2021 was December 31, 2021. -
Govt not to impose anti-dumping duty on certain steel products
The government has decided not to impose anti-dumping duty on certain steel products being imported from countries like China, Japan, and Korea, as the finance ministry has not accepted the recommendations of the directorate general of trade remedies (DGTR).The commerce ministry’s investigation arm DGTR had conducted a probe against imports of ‘Cold Rolled/cold reduced flat steel products of iron or Non-Alloy Steel, or other Alloy Steel of all width and thickness – not clad, pl -
India bound Citroen C3 SUV spotted without camouflage ahead of launch, Details here
Developed for emerging markets like India, the Citroen C3 is to be manufactured in Chennai at the Thiruvallur plant with over 90 percent localization. -
ICICI Bank revises credit card charges, late payment fine now up to Rs 1,200
ICICI Bank has announced a revision in credit card charges. -
Odisha announces financial package for community support staff, paid medical leaves for Anganwadi workers
Odisha Chief Minister Naveen Patnaik has announced a financial package for 50,000 community support staff (CSS) working at the Panchayat level under "Mission Shakti" in the state. -
Andhra Pradesh govt hikes employees pay by 23.39%, increases retirement age by 2 years
The state government has also announced increasing the retirement age from 60 to 62 years, a move that would benefit thousands of state employees.
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Budget 2022: EC won’t interfere in Union Budget presentation, says CEC Chandra
The EC would not like to interfere in the presentation of the Union Budget, Chief Election Commissioner (CEC) Sushil Chandra said on Saturday. -
CNG, PNG prices hiked for 2nd time in 3 weeks in Mumbai: Check latest rates
MGL has increased the prices of CNG and PNG with effect from Saturday midnight. -
OYO received bookings worth Rs 110 crore for New Year celebrations: CEO Ritesh Agarwal
Ritesh Agarwal has revealed that the company had received over 5 lakh bookings for New Year 2022 celebrations.
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