BUSINESS
11th instalment of Rs 6K cr for GST compensation shortfall released
Out of this, an amount of Rs 5,516.60 crore has been released to 23 states and a number of Rs 483.40 crore has been released to the 3 Union Territories (UTs) with Legislative Assembly (Delhi, Jammu & Kashmir, Puducherry) who are members of the GST Council. The remaining 5 states -- Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim -- do not have a gap in revenue on account of GST implementation.
Middle class likely to gain from higher tax deductions in Budget 2021
Sources said that the Budget 2020-21 may take the sops announced earlier under the Atmanirbhar Bharat package to help people in their fight against the Covid-19 pandemic further, by raising the basic tax exemption limit for an individual income tax payee to Rs 5 lakh from Rs 2.50 lakh at present to enhance net disposable income in their hands.
Cognizant buys 2 firms in a day, spends $1.4bn on 11 acquisitions
Including the two fresh acquisitions, Cognizant has announced 11 acquisitions in the past 12 months -- an aggregate investment of approximately $1.4 billion -- in its strategic digital focus areas of cloud, data and artificial intelligence, digital engineering and Internet of Things.
Airtel, NSIC partner for digital transformation of Indian MSMEs
NSIC is a Government of India Enterprise having its mission "to promote and support MSME sector by providing integrated support services encompassing marketing, technology, finance and other services".
DGGI starts probe against Uber, Ola over alleged GST evasion
According to sources, as per the calculation by the GST arm, the tax liability of Uber India stands around Rs 800 crore, while that of Ola Cabs is around Rs 300 crore.
Domestic funds see outflows after 5 yrs
According to a report by Motilal Oswal Institutional Equities, in the calendar year 2020, while FIIs inflows were at record highs, outflows by DIIs were at fresh highs too. FII inflows for CY20 were strong at $23.4 billion - the highest since CY12. However, DIIs recorded their first outflows (-$4.9 billion) after five years of inflows.
Supply of new homes improved in October-December amid growing demand
According to Real Insight Q4 2020, a total of 54,329 new units were launched during the three months. New launches grew by 173 per cent quarter-on-quarter (QoQ) to 19,865 units that were launched in eight key markets during the July-September period.
December auto registrations log positive growth, first time in FY21
Data released by the Federation of Automobile Dealers Associations (FADA) on Monday showed that over 18.44 lakh vehicles were registered last month, compared with over 16.61 lakh units in December 2019.
Sterlite Power raises Rs 200 cr from Allianz Global Investors
The Rs 200 crore facility from Allianz GI has been raised as a non-convertible debenture with a three-year tenure and is part of the larger refinancing exercise undertaken by Sterlite Power to reduce its holding company borrowings.
India may revise import duties of critical raw materials to boost manufacturing
Agarwal said that the focus is to promote the Atmanirbhar Bharat programme. "Promoting the Atmanirbhar Bharat scheme, however, does not mean that India does not want to integrate with the global supply chain. We are keen looking at every possible way to see how well our manufacturers get integrated into the global chain," he said. Several manufacturers have been complaining about non availability of raw materials.
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