BUSINESS
The need to prioritise a mustard policy
The unabated and unbridled increase in mustard oilseed prices throughout the year led to the steep rise in mustard oil prices and compelled a large section of mustard oil consumers to switch to imported edible oils that were available at lower price-points and cheaper brands of mustard oil which are mostly adulterated.
Rama Bijapurkar penalised for 'inadvertent trade' after resigning from ICICI Bank board
The Audit Committee of ICICI Bank was notified of this incident. Based on Bijapurkar's submission, it is concluded that this was an inadvertent trade made without any intent to violate the Bank's Code on Prohibition of Insider Trading (Bank's ·Code) or the SEBI (Prohibition of Insider Trading) Regulations, 2015 (SEBI Regulations), ICICI Bank said in a disclosure last week.
Zomato shares decline further, down 18% in early trade
"Zomato is witnessing a vertical fall and slipped below the low made on a listing day which is not a good sign for any counter. There is a risk-off situation across the globe amid fear of tightening by the US Fed where if we look at the trend then there is a sharp sell-off in growth stocks (new edge businesses) especially loss-making companies," said Santosh Meena, Head of Research at Swastika Investmart.
Measures to widen tax base could be focus area in Union Budget
The policies regarding 'tax effort' could be designed through various ways such as, rationalising tax rates, policies regarding widening tax base and net, and improving tax compliance and tax administration. This process would have enormous implications on ameliorating economic growth, deficit (in both the absolute term and as per cent to GDP) would come down.
India can reach $300 bn electronic manufacturing by 2026: MeitY-ICEA
Indian can reach $300 billion worth of electronics manufacturing and exports by 2025-26 -- nearly four times from the current $67 billion -- if specific product segments with high potential for scale are shortlisted and catered to by way of incentives and policy measures, a new IT Ministry report showed on Monday.
India IT spending to touch $105 bn in 2022: Gartner
Despite the potential impacts of the Omicron variant, economic recovery with high expectations for digital market prosperity will continue to boost technology investments in the country.
UP to set up 4 units to manufacture 'Vedic Paint'
Khadi & Village Industries Commission (KVIC) Varanasi director D.S. Bhati said the units will be set up at Barabanki, Varanasi, Ballia, and Meerut to manufacture the paint. He said the paint is different from the usual ones as it does not contain any chemicals, is made from natural sources, and is just as durable as the other paints.
Ola Electric raises $200 mn to reach $5 bn valuation
"We have changed the entire scooter industry and are now looking forward to bringing our innovative products to more two-wheeler categories including bikes as well as cars. I thank the investors for their support and look forward to partnering with them to take the EV revolution from India to the world," Bhavish Aggarwal, Founder and CEO, Ola said in a statement. Ola Electric announced it has raised over $200 million from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and others.
Decline in equity continues for 5th straight sessions; Sensex, Nifty slip 1%
The 30-scrip Sensitive Index (Sensex) and broader 50-scrip Nifty on National Stock Exchange (NSE) extended losses from January 21 and declined sharply during early trade on Monday primarily due to sell-off by foreign institutional investors. This is the fifth consecutive decline in sessions for the indices. At 10.20 a.m., Sensex traded at 58,58,402 points, down 1.1 per cent or 635 points from the previous close of 59,037 points.
India on way to become 'Pickle King of the World'
India has exported cucumber and gherkins to the tune of 1,23,846 metric tonnes (MT) with a value of $114 million during April-October 2021. In 2020-21, India had shipped 2,23,515MT of cucumber and gherkins with a value of $223 million.
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