ECONOMY & NATION


Moneylife Digital Team 15 January 2022
India’s airlines are flying towards their steepest-ever net loss of more than Rs20,000 crore this fiscal - 44% more than the Rs13,853 crore bled last fiscal—owing to the twin headwinds of the third wave of the COVID-19 pandemic and high aviation turbine fuel (ATF) prices, says a research...

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It seemed more like a crime investigation thriller when the Directorate General of GST Intelligence (DGGI) busted a planned all-India tax evasion racket and unearthed Rs 4,521 crore of tax evasion.   A series of raids and investigation landed the DDGI to Kolkata finally, once infamous...

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Supply as well as demand constraints impacted India's auto sector sales in December 2021 on a year-on-year basis. Similarly, the sector's current off-take of passenger vehicles, two-and-three wheelers, were far behind the 2019 sales levels.   In terms of PVs, challenges pertaining to...

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Walter Vieira Walter Vieira 14 January 2022
When we try to develop a discipline to ‘monitor’ any activity, we will always have a problem in India. Somehow, we just do not have a sense of ‘follow up’ in the country. It has been this way 50 years ago and it is the same now, perhaps, even worse!    Someone gives directions, others...

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Moneylife Digital Team 14 January 2022
The surge in COVID-19 cases in India associated with the Omicron variant may delay the recovery in micro, small and medium enterprises (MSMEs) and microfinance lending, adding to asset-quality risks for Indian non-bank financial institutions (NBFIs), says Fitch Ratings.    The rating...

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With the Union Budget for FY23 round the corner, real estate developers have started making their suggestions and recommendations to the Centre for including them in the Budget document.   The Budget will be tabled in the Parliament on February 1.   After facing strong...

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Reliance Industries (RIL) on Thursday signed Memorandums of Understanding (MoU) with the Gujarat state for a total investment of Rs 5.955 lakh crore as part of the investment promotion activity for 'Vibrant Gujarat Summit 2022', which was supposed to be held from January 10-12 in Gandhinagar,...

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Moneylife Digital Team 13 January 2022
The Omicron-led third wave of the pandemic could pose fresh turbulence for air traffic, pushing full recovery into fiscal 2024 from an earlier expectation of it happening in fiscal 2023. At the same time, an uptick in tariffs, liquidity and refinancing ability will cushion credit quality of...

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BK Syngal BK Syngal 13 January 2022
There has been a high-decibel debate in the media, both print and electronic, over Vodafone-Idea (VI) (and later Tata Teleservices) offering equity to the government of India to offset the interest burden that would accrue over four years. The government had granted them a moratorium for four...

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In these panicky times of the pandemic, two persons from Mumbai and Thane this week got bizarre shockers on their Covid-19 infection status from a government lab, two private labs of a single company, and their status on the Centre's Aarogya Setu portal.   Within hours after...

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PN Vijay (The Free Press Journal) 12 January 2022
The biggest development in our society in the past 10 years has been, without a doubt, the growth of e-commerce companies. Companies like Amazon, Flipkart, Big Basket, JioMart, Zomato, Swiggy have changed not only the way business is done in India but the way we buy things.    As a...

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Moneylife Digital Team 12 January 2022
The third quarter (Q3) of the current fiscal has witnessed a visible expansion in credit growth across sectors. Sectors, where demand for credit started picking up during the past three months includes non-banking finance companies (NBFCs), telecom, petroleum, chemicals, electronics, gems &...

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The Twitter account of the Union Ministry of Information and Broadcasting was compromised on Wednesday.   The account, however, was restored later on. The hacker renamed the account as Elon Musk and tweeted a great job.   The account was restored and posts made by hackers were...

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The Supreme Court on Tuesday observed that demand of money for the purpose of construction of a house is a dowry demand, which is punishable under Section 304-B of the Indian Penal Code.   A bench, headed by Chief Justice N.V. Ramana and comprising Justices A.S. Bopanna and Hima...

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The Future group on Tuesday submitted before the Supreme Court (SC) that Future Retail Ltd will sink with its 30,000 employees, if its over Rs24,000-crore deal with Reliance Retail fails to reach fruition.   The Future group also sought permission from a bench, headed by Chief Justice...

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Gauri Anand  and   Hinduja Verma (The Leaflet) 12 January 2022
The ‘Bulli Bai’ app controversy, the latest in a series of such attempts over the last few months at shaming and objectifying outspoken Muslim women in the public sphere, has brought to the fore again the need for reform in the legal mechanism to deal with the harassment of women online in...

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Moneylife Digital Team 11 January 2022
Taking cognisance of the outrage on social media on issues faced by taxpayers and tax professionals, the central board of direct taxes (CBDT) has decided to further extend the due dates for filing of income-tax returns (ITRs) to 15th March and various audit reports to 15 February 2022 for...

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Moneylife Digital Team 11 January 2022
After 11 quarters, the earnings before interest, taxes, depreciation and amortisation (EBITDA) margin of Indian companies is likely to fall during the third quarter (Q3). While India Inc sustained revenue momentum, it was driven by price hikes rather than volume growth, says a research note...

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Moneylife Digital Team 11 January 2022
State-run Punjab National Bank (PNB) has decided to hike the minimum quarterly average balance (QAB) to Rs10,000 in the four metro cities of Delhi, Mumbai, Kolkata, Chennai. The public sector bank (PSB) has also decided to increase charges for various services by up to 50% from 15 January...

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A Seoul court on Monday approved a local consortium's acquisition of Mahindra & Mahindra-owned SsangYong Motor by Edison Motors for $254 million, paving the way for the financially-troubled carmaker to get back on track.   The consortium led by electric carmaker Edison Motors signed a...

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