BUSINESS
India set to achieve $300 bn electronics manufacturing target: MoS IT
India can reach $300 billion worth of electronics manufacturing and exports by 2025-26 if specific product segments with high potential for scale are shortlisted and catered to by way of incentives and policy measures, according to the Vision Document 2.0 prepared by the IT Ministry and the India Cellular and Electronics Association (ICEA).
Mandatory footwear norms to be applicable from July 1
The move is aimed at preventing low-quality imported footwear from China, Director General of Bureau of Indian Standards (BIS), Pramod Tiwari, told mediapersons. However, small-scale footwear manufacturers have been given a relaxation in the deadline, and they will have to comply with the norms from January 1, 2024 onwards.
HDFC Ltd inks pact with BPEA EQT-led consortium for 90% stake sale in education loan subsidiary
The valuation of the transaction is approximately Rs 9,060 crore, HDFC said in a stock exchange filing.It is subject to regulatory approvals and dispensations (including the RBI and the Competition Commission of India) in connection with the proposed transaction and continuation of HDFC Credila's business, the filing said.
Sanchez flaunts curves in dark bikini on Bezos' $500 mn yacht
Sanchez in dark sunglasses can be seen lounging on the deck taking selfies, as she stripped off the sarong to reveal her sensational curves in the steamy two-piece aboard the world's tallest sailing yacht, reports Daily Mail. "Her skin appeared sun-kissed as the raven haired beauty relaxed on the deck - her husband-to-be nowhere to be seen," the report mentioned.
'SEBI can't afford to be reactive and wait for a default to happen to take action', says order in IIFL Securities matter
An order by SEBI whole time member S.K. Mohanty said, "While the noticee has brazenly contended that the misdeeds of it didn't lead to default, as a regulator, SEBI is required to be proactive in stopping these kinds of mishaps and audacious misconduct from recurring. SEBI cannot afford to be reactive and wait for a default to happen to take action upon such misdeeds as the notice is trying to persuade and impress upon me."
IndiGo places order of 500 Airbus A320 aircraft; purchase agreement signed at Paris Air Show
The purchase agreement was finalised at the Paris Air Show 2023, with representatives from IndiGo and Airbus present. In a statement on Monday, IndiGo confirmed that the engine selection and the precise mix of A320 and A321 aircraft will be determined in due course.
Jack Ma appears to discuss 'understanding of mathematics' with students
According to a statement from the e-commerce giant's Damo Academy, Ma said that next year's competition will continue to "innovate and bring more fun to people who love mathematics," reports South China Morning Post. Ma also spoke with some of the 685 finalists from 19 countries over video conference.
'Indian corporate sector begins to contribute to growth of gross fixed capital formation'
Post-pandemic economic recovery was largely driven by growth in GFCF. It grew 25.6 per cent year-on-year (YoY) during FY22 to reach Rs 67.9 trillion in nominal terms. The growth in FY22 was largely driven by household investments into real estate and central government push towards infrastructure capex while state governments and corporates lagged in terms of capex growth, the report notes.
Cash transactions dramatically spike at petrol pumps, online orders
"As per our estimate consumption demand may be frontloaded by Rs 55,000 crore. With the bank note remaining a legal tender, unlike demonetisation, consumption could see a boost. Though, RBI asked customers to deposit or exchange the Rs 2,000 notes, but it is expected that high-value amounts could move to high-value spends such as gold/jewellery, high-end consumer durables like AC, mobile phones etc, and real estate," the report said.
Direct tax collection rises 11% to Rs 3,79,760 crore
The net direct tax collection of Rs 3,79,760 crore included corporation tax (CIT) at Rs 1,56,949 crore (net of refund) and personal income tax (PIT) including securities transaction tax (STT) at Rs 2,22,196 crore (net of refund). The gross collection of direct taxes (before adjusting for refunds) for 2023-24 stands at Rs 4,19,338 crore as compared to Rs 3,71,982 crore in the corresponding period of last fiscal, registering a growth of 12.73 per cent over collections of 2022-23.
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