BUSINESS
GST officials asked to ensure consumers benefit from rate cut of Covid-related items
In an office memorandum, NAA said that the supplies are required to commensurately reduce the prices of each of the supplies of gods and services are made by them to that the benefit of the reduction in tax rates and input tax credits is passed on t the consumers. It further asked GST officials "to all possible steps evisage the GST laws".
RIL can catalyse investments of over $200 bn: Mukesh Ambani
Addressing RIL's annual general meeting (AGM) here on Thursday, Ambani noted that in the last 10 years, Reliance has invested over $90 billion in creating substantial wealth for the nation and value for the shareholders. "Reliance has the capacity to catalyse investments of over $200 billion directly and through partners. These investments will create value on an exponential scale.
RBI issues guidelines for NBFCs' dividend declarations
These guidelines shall be effective for declaration of dividends from the profits of the financial year ending March 31, 2022 and onwards. "In order to infuse greater transparency and uniformity in practice, it has been decided to prescribe guidelines on distribution of dividend by NBFCs," the RBI said.
RIL unveils Rs 60K cr green energy plan, to build 4 Giga factories
During the 44th annual general meeting of RIL, Ambani said the investment would go into the setting up of four Giga factories that will manufacture and fully integrate all the critical components of the new energy ecosystem involving production of solar energy, storage of intermittent energy, production of green hydrogen and converting hydrogen into motive and stationary power.
Saudi Aramco chairman to join RIL Board
Addressing the 44th Annual General Meeting on Thursday, Ambani said that he expects RIL's partnership with Saudi Aramco will be to be formalised in an "expeditious manner during this year", after obtaining required regulatory clearances. He said that Rumayyan's joining the board is also the beginning of internationalisation of Reliance and more announcements on international plans of the company would come in times to come.
Moody’s cuts India’s GDP growth rate to 9.6%, says slow vaccination rate can create problems
Moody’s said that a faster rate of Covid vaccination would create a positive effect on the country’s economy and would minimise the restriction on GDP flow. But the second wave of Covid slumped the economy which will result in slower growth than previously estimated, it added.
Focus on 'toyconomy': PM's call to India's toy industry
By focusing on toy and gaming sector, the Prime Minister said that country's crores of rupees going outside can be saved. "Today, we import around 80 per cent of our toys as well. That is, crores of rupees of the country are going out on these.
Samsung affiliates fined $206M for unfair business practice: Report
The Korea Fair Trade Commission (KFTC) also said it will file complaints with the prosecution against Samsung Electronics Co. and its former executive Choi Gee-sung over alleged unfair support for Samsung Welstory Inc., the group's food service affiliate.
RIL's performance in FY21 exceeded expectations: Mukesh Ambani
Addressing the Annual General Meeting (AGM) of the oil-to-telecom giant, Ambani also commended the company and its employees for the humanitarian efforts during the pandemic. "I feel both proud and humbled to share with you that throughout the COVID crisis, our Reliance Family has risen to the occasion with a sense of purpose and national duty," he said.
Stock Talk: Top Retailing companies on Sensex today
Indian retail industry is one of the fastest growing in the world. As per Forrester Research, in 2020, India's retail sector was estimated at US$ 883 billion, with grocery retail accounting for US$ 608 billion.
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