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IndiaTV Business: Google News Feed: Digest for August 22, 2023

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Govt will adhere to fiscal deficit target of 5.9% for FY 24

Friday 18 August 2023 01:40 PM UTC+00
The government will stick to the fiscal deficit target of 5.9 percent of the GDP as robust tax and non-tax collections will help meet the spending requirement and make up for any shortfall in disinvestment proceeds, Finance Secretary T V Somanathan said on Friday. Although there would be a shortfall with respect to disinvestment, he said, this shortfall would be met by non-tax revenue mobilisation.
In what could be termed as good news for OTT platform lovers, Reliance Jio on Friday unveiled two prepaid mobile plans bundled with a Netflix subscription. In a statement, the telecom company said that it is a global first-of-its-kind prepaid bundle deal for Netflix. 
A leading provider of high-end specialty chemicals, Vikas Ecotech, has announced plans to set up a world-class research laboratory that meets international standards and achieves NABL accreditation. Notably, its in-house research & development (R&D) unit is recognised by the Department of Scientific and Industrial Research, Ministry of Science & Technology.
BYJU'S has laid off 100 employees in a fresh round of layoffs. The company has not disclosed the specific departments or roles that were affected, but the layoffs are said to have been concentrated in the sales and marketing teams. This is the second round of layoffs at BYJU'S in the past six months. In February 2023, the company laid off 2,500 employees. The latest round of layoffs brings the total number of employees that BYJU'S has laid off in the past year to over 3,600.

Govt imposes 40 per cent duty on onion exports till December 31

Saturday 19 August 2023 01:36 PM UTC+00
The government on Saturday imposed an export duty of 40 per cent on onions with immediate effect to check price rise and improve supplies in the domestic market.  This export duty is valid till December 31, 2023. The export duty comes amid reports that onion prices are likely to rise in September.

Can investing in equities make you rich? 4 money making tips

Sunday 20 August 2023 01:30 AM UTC+00
Investing in equities is one of the most popular ways to create wealth in long term. The number of opportunities equities hold for investors cannot be stated in one go. It has an immense number of opportunities apart from just buying and selling stocks.  
The Indian chemical industry is poised for growth and has the potential to become a USD1 trillion market by 2040, with a CAGR of 8–10 per cent over 2021–2040. The domestic sector businesses with deep chemistry expertise, scale of products, and financial discipline are on a solid run as they possess resilience and the moat to weather headwinds.
Uttar Pradesh (UP) and Gujarat are among the top 5 states in India in terms of new investments in 2022-23. According to a study by the Reserve Bank of India (RBI), these two states together accounted for 57.2% of the total investment proposals made during the year. In 2022-23, UP attracted the highest share of new investments, with a total project cost of Rs. 43,180 crore. This was followed by Gujarat (Rs. 37,317 crore), Odisha (Rs. 11,810 crore), Maharashtra (Rs. 7,900 crore) and Karnataka (Rs. 7,300 crore).
The government expects vegetable prices to start cooling off from next month with the advent of new crops in the market, but rising crude oil prices is a concern even though it is still within the tolerable zone of USD 90 a barrel, a finance ministry official said. The official further said that a reduction in excise duty is not on the cards and the government is driving infrastructure investment, and private sector capital investment is yet to gather steam.
Top industry groups have asked the US government to urge India to reconsider its decision to impose import restrictions on laptops, tablets, and personal computers (PCs). The groups, which include the Business Roundtable, the National Association of Manufacturers, and the Information Technology Industry Council, argue that the restrictions will harm the Indian economy and consumers. They said that the restrictions will raise prices for computers, make it more difficult for businesses to get the equipment they need, and stifle innovation.

Govt will adhere to fiscal deficit target of 5.9% for FY 24

Friday 18 August 2023 01:40 PM UTC+00
The government will stick to the fiscal deficit target of 5.9 percent of the GDP as robust tax and non-tax collections will help meet the spending requirement and make up for any shortfall in disinvestment proceeds, Finance Secretary T V Somanathan said on Friday. Although there would be a shortfall with respect to disinvestment, he said, this shortfall would be met by non-tax revenue mobilisation.
In what could be termed as good news for OTT platform lovers, Reliance Jio on Friday unveiled two prepaid mobile plans bundled with a Netflix subscription. In a statement, the telecom company said that it is a global first-of-its-kind prepaid bundle deal for Netflix. 
A leading provider of high-end specialty chemicals, Vikas Ecotech, has announced plans to set up a world-class research laboratory that meets international standards and achieves NABL accreditation. Notably, its in-house research & development (R&D) unit is recognised by the Department of Scientific and Industrial Research, Ministry of Science & Technology.
BYJU'S has laid off 100 employees in a fresh round of layoffs. The company has not disclosed the specific departments or roles that were affected, but the layoffs are said to have been concentrated in the sales and marketing teams. This is the second round of layoffs at BYJU'S in the past six months. In February 2023, the company laid off 2,500 employees. The latest round of layoffs brings the total number of employees that BYJU'S has laid off in the past year to over 3,600.

Govt imposes 40 per cent duty on onion exports till December 31

Saturday 19 August 2023 01:36 PM UTC+00
The government on Saturday imposed an export duty of 40 per cent on onions with immediate effect to check price rise and improve supplies in the domestic market.  This export duty is valid till December 31, 2023. The export duty comes amid reports that onion prices are likely to rise in September.

Can investing in equities make you rich? 4 money making tips

Sunday 20 August 2023 01:30 AM UTC+00
Investing in equities is one of the most popular ways to create wealth in long term. The number of opportunities equities hold for investors cannot be stated in one go. It has an immense number of opportunities apart from just buying and selling stocks.  
The Indian chemical industry is poised for growth and has the potential to become a USD1 trillion market by 2040, with a CAGR of 8–10 per cent over 2021–2040. The domestic sector businesses with deep chemistry expertise, scale of products, and financial discipline are on a solid run as they possess resilience and the moat to weather headwinds.
Uttar Pradesh (UP) and Gujarat are among the top 5 states in India in terms of new investments in 2022-23. According to a study by the Reserve Bank of India (RBI), these two states together accounted for 57.2% of the total investment proposals made during the year. In 2022-23, UP attracted the highest share of new investments, with a total project cost of Rs. 43,180 crore. This was followed by Gujarat (Rs. 37,317 crore), Odisha (Rs. 11,810 crore), Maharashtra (Rs. 7,900 crore) and Karnataka (Rs. 7,300 crore).
The government expects vegetable prices to start cooling off from next month with the advent of new crops in the market, but rising crude oil prices is a concern even though it is still within the tolerable zone of USD 90 a barrel, a finance ministry official said. The official further said that a reduction in excise duty is not on the cards and the government is driving infrastructure investment, and private sector capital investment is yet to gather steam.
Top industry groups have asked the US government to urge India to reconsider its decision to impose import restrictions on laptops, tablets, and personal computers (PCs). The groups, which include the Business Roundtable, the National Association of Manufacturers, and the Information Technology Industry Council, argue that the restrictions will harm the Indian economy and consumers. They said that the restrictions will raise prices for computers, make it more difficult for businesses to get the equipment they need, and stifle innovation.
In what could be termed as good news for OTT platform lovers, Reliance Jio on Friday unveiled two prepaid mobile plans bundled with a Netflix subscription. In a statement, the telecom company said that it is a global first-of-its-kind prepaid bundle deal for Netflix. 
A leading provider of high-end specialty chemicals, Vikas Ecotech, has announced plans to set up a world-class research laboratory that meets international standards and achieves NABL accreditation. Notably, its in-house research & development (R&D) unit is recognised by the Department of Scientific and Industrial Research, Ministry of Science & Technology.
BYJU'S has laid off 100 employees in a fresh round of layoffs. The company has not disclosed the specific departments or roles that were affected, but the layoffs are said to have been concentrated in the sales and marketing teams. This is the second round of layoffs at BYJU'S in the past six months. In February 2023, the company laid off 2,500 employees. The latest round of layoffs brings the total number of employees that BYJU'S has laid off in the past year to over 3,600.

Govt imposes 40 per cent duty on onion exports till December 31

Saturday 19 August 2023 01:36 PM UTC+00
The government on Saturday imposed an export duty of 40 per cent on onions with immediate effect to check price rise and improve supplies in the domestic market.  This export duty is valid till December 31, 2023. The export duty comes amid reports that onion prices are likely to rise in September.

Can investing in equities make you rich? 4 money making tips

Sunday 20 August 2023 01:30 AM UTC+00
Investing in equities is one of the most popular ways to create wealth in long term. The number of opportunities equities hold for investors cannot be stated in one go. It has an immense number of opportunities apart from just buying and selling stocks.  
The Indian chemical industry is poised for growth and has the potential to become a USD1 trillion market by 2040, with a CAGR of 8–10 per cent over 2021–2040. The domestic sector businesses with deep chemistry expertise, scale of products, and financial discipline are on a solid run as they possess resilience and the moat to weather headwinds.
Uttar Pradesh (UP) and Gujarat are among the top 5 states in India in terms of new investments in 2022-23. According to a study by the Reserve Bank of India (RBI), these two states together accounted for 57.2% of the total investment proposals made during the year. In 2022-23, UP attracted the highest share of new investments, with a total project cost of Rs. 43,180 crore. This was followed by Gujarat (Rs. 37,317 crore), Odisha (Rs. 11,810 crore), Maharashtra (Rs. 7,900 crore) and Karnataka (Rs. 7,300 crore).
The government expects vegetable prices to start cooling off from next month with the advent of new crops in the market, but rising crude oil prices is a concern even though it is still within the tolerable zone of USD 90 a barrel, a finance ministry official said. The official further said that a reduction in excise duty is not on the cards and the government is driving infrastructure investment, and private sector capital investment is yet to gather steam.
Top industry groups have asked the US government to urge India to reconsider its decision to impose import restrictions on laptops, tablets, and personal computers (PCs). The groups, which include the Business Roundtable, the National Association of Manufacturers, and the Information Technology Industry Council, argue that the restrictions will harm the Indian economy and consumers. They said that the restrictions will raise prices for computers, make it more difficult for businesses to get the equipment they need, and stifle innovation.
China's economic slowdown and subsequent deflation will have a mixed impact on the Indian economy. On the one hand, a weaker Chinese economy will mean lower demand for Indian exports, which could hurt growth. On the other hand, a weaker yuan will make Indian imports cheaper, which could boost consumption.
A leading provider of high-end specialty chemicals, Vikas Ecotech, has announced plans to set up a world-class research laboratory that meets international standards and achieves NABL accreditation. Notably, its in-house research & development (R&D) unit is recognised by the Department of Scientific and Industrial Research, Ministry of Science & Technology.
BYJU'S has laid off 100 employees in a fresh round of layoffs. The company has not disclosed the specific departments or roles that were affected, but the layoffs are said to have been concentrated in the sales and marketing teams. This is the second round of layoffs at BYJU'S in the past six months. In February 2023, the company laid off 2,500 employees. The latest round of layoffs brings the total number of employees that BYJU'S has laid off in the past year to over 3,600.

Govt imposes 40 per cent duty on onion exports till December 31

Saturday 19 August 2023 01:36 PM UTC+00
The government on Saturday imposed an export duty of 40 per cent on onions with immediate effect to check price rise and improve supplies in the domestic market.  This export duty is valid till December 31, 2023. The export duty comes amid reports that onion prices are likely to rise in September.

Can investing in equities make you rich? 4 money making tips

Sunday 20 August 2023 01:30 AM UTC+00
Investing in equities is one of the most popular ways to create wealth in long term. The number of opportunities equities hold for investors cannot be stated in one go. It has an immense number of opportunities apart from just buying and selling stocks.  
The Indian chemical industry is poised for growth and has the potential to become a USD1 trillion market by 2040, with a CAGR of 8–10 per cent over 2021–2040. The domestic sector businesses with deep chemistry expertise, scale of products, and financial discipline are on a solid run as they possess resilience and the moat to weather headwinds.
Uttar Pradesh (UP) and Gujarat are among the top 5 states in India in terms of new investments in 2022-23. According to a study by the Reserve Bank of India (RBI), these two states together accounted for 57.2% of the total investment proposals made during the year. In 2022-23, UP attracted the highest share of new investments, with a total project cost of Rs. 43,180 crore. This was followed by Gujarat (Rs. 37,317 crore), Odisha (Rs. 11,810 crore), Maharashtra (Rs. 7,900 crore) and Karnataka (Rs. 7,300 crore).
The government expects vegetable prices to start cooling off from next month with the advent of new crops in the market, but rising crude oil prices is a concern even though it is still within the tolerable zone of USD 90 a barrel, a finance ministry official said. The official further said that a reduction in excise duty is not on the cards and the government is driving infrastructure investment, and private sector capital investment is yet to gather steam.
Top industry groups have asked the US government to urge India to reconsider its decision to impose import restrictions on laptops, tablets, and personal computers (PCs). The groups, which include the Business Roundtable, the National Association of Manufacturers, and the Information Technology Industry Council, argue that the restrictions will harm the Indian economy and consumers. They said that the restrictions will raise prices for computers, make it more difficult for businesses to get the equipment they need, and stifle innovation.
China's economic slowdown and subsequent deflation will have a mixed impact on the Indian economy. On the one hand, a weaker Chinese economy will mean lower demand for Indian exports, which could hurt growth. On the other hand, a weaker yuan will make Indian imports cheaper, which could boost consumption.
The government has announced that it will sell onions at a subsidised rate of Rs 25 per kg through retail outlets and mobile vans starting Monday. The sale will be done by the National Cooperative Consumers' Federation of India Limited (NCCF). The government has taken this step to provide relief to consumers from the high prices of onions, which have been hovering around Rs 40–50 per kg in recent weeks. The subsidised sale will be available in Delhi, and the government plans to expand it to other parts of the country in the coming days.
BYJU'S has laid off 100 employees in a fresh round of layoffs. The company has not disclosed the specific departments or roles that were affected, but the layoffs are said to have been concentrated in the sales and marketing teams. This is the second round of layoffs at BYJU'S in the past six months. In February 2023, the company laid off 2,500 employees. The latest round of layoffs brings the total number of employees that BYJU'S has laid off in the past year to over 3,600.

Govt imposes 40 per cent duty on onion exports till December 31

Saturday 19 August 2023 01:36 PM UTC+00
The government on Saturday imposed an export duty of 40 per cent on onions with immediate effect to check price rise and improve supplies in the domestic market.  This export duty is valid till December 31, 2023. The export duty comes amid reports that onion prices are likely to rise in September.

Can investing in equities make you rich? 4 money making tips

Sunday 20 August 2023 01:30 AM UTC+00
Investing in equities is one of the most popular ways to create wealth in long term. The number of opportunities equities hold for investors cannot be stated in one go. It has an immense number of opportunities apart from just buying and selling stocks.  
The Indian chemical industry is poised for growth and has the potential to become a USD1 trillion market by 2040, with a CAGR of 8–10 per cent over 2021–2040. The domestic sector businesses with deep chemistry expertise, scale of products, and financial discipline are on a solid run as they possess resilience and the moat to weather headwinds.
Uttar Pradesh (UP) and Gujarat are among the top 5 states in India in terms of new investments in 2022-23. According to a study by the Reserve Bank of India (RBI), these two states together accounted for 57.2% of the total investment proposals made during the year. In 2022-23, UP attracted the highest share of new investments, with a total project cost of Rs. 43,180 crore. This was followed by Gujarat (Rs. 37,317 crore), Odisha (Rs. 11,810 crore), Maharashtra (Rs. 7,900 crore) and Karnataka (Rs. 7,300 crore).
The government expects vegetable prices to start cooling off from next month with the advent of new crops in the market, but rising crude oil prices is a concern even though it is still within the tolerable zone of USD 90 a barrel, a finance ministry official said. The official further said that a reduction in excise duty is not on the cards and the government is driving infrastructure investment, and private sector capital investment is yet to gather steam.
Top industry groups have asked the US government to urge India to reconsider its decision to impose import restrictions on laptops, tablets, and personal computers (PCs). The groups, which include the Business Roundtable, the National Association of Manufacturers, and the Information Technology Industry Council, argue that the restrictions will harm the Indian economy and consumers. They said that the restrictions will raise prices for computers, make it more difficult for businesses to get the equipment they need, and stifle innovation.
China's economic slowdown and subsequent deflation will have a mixed impact on the Indian economy. On the one hand, a weaker Chinese economy will mean lower demand for Indian exports, which could hurt growth. On the other hand, a weaker yuan will make Indian imports cheaper, which could boost consumption.
The government has announced that it will sell onions at a subsidised rate of Rs 25 per kg through retail outlets and mobile vans starting Monday. The sale will be done by the National Cooperative Consumers' Federation of India Limited (NCCF). The government has taken this step to provide relief to consumers from the high prices of onions, which have been hovering around Rs 40–50 per kg in recent weeks. The subsidised sale will be available in Delhi, and the government plans to expand it to other parts of the country in the coming days.
Shares of Jio Financial Services, the demerged financial services unit of Reliance Industries, listed on the bourses on Monday, with the stock falling nearly 5 per cent to hit the lower circuit limit. On the BSE, shares of the company began the trade at Rs 265, up 1.20 per cent against Rs 261.85, the price fixed at a special price discovery session held last month. However, the stock later fell by 3.85 per cent to hit Rs 251.75 -- its lower circuit limit -- against Rs 261.85.

Govt imposes 40 per cent duty on onion exports till December 31

Saturday 19 August 2023 01:36 PM UTC+00
The government on Saturday imposed an export duty of 40 per cent on onions with immediate effect to check price rise and improve supplies in the domestic market.  This export duty is valid till December 31, 2023. The export duty comes amid reports that onion prices are likely to rise in September.

Can investing in equities make you rich? 4 money making tips

Sunday 20 August 2023 01:30 AM UTC+00
Investing in equities is one of the most popular ways to create wealth in long term. The number of opportunities equities hold for investors cannot be stated in one go. It has an immense number of opportunities apart from just buying and selling stocks.  
The Indian chemical industry is poised for growth and has the potential to become a USD1 trillion market by 2040, with a CAGR of 8–10 per cent over 2021–2040. The domestic sector businesses with deep chemistry expertise, scale of products, and financial discipline are on a solid run as they possess resilience and the moat to weather headwinds.
Uttar Pradesh (UP) and Gujarat are among the top 5 states in India in terms of new investments in 2022-23. According to a study by the Reserve Bank of India (RBI), these two states together accounted for 57.2% of the total investment proposals made during the year. In 2022-23, UP attracted the highest share of new investments, with a total project cost of Rs. 43,180 crore. This was followed by Gujarat (Rs. 37,317 crore), Odisha (Rs. 11,810 crore), Maharashtra (Rs. 7,900 crore) and Karnataka (Rs. 7,300 crore).
The government expects vegetable prices to start cooling off from next month with the advent of new crops in the market, but rising crude oil prices is a concern even though it is still within the tolerable zone of USD 90 a barrel, a finance ministry official said. The official further said that a reduction in excise duty is not on the cards and the government is driving infrastructure investment, and private sector capital investment is yet to gather steam.
Top industry groups have asked the US government to urge India to reconsider its decision to impose import restrictions on laptops, tablets, and personal computers (PCs). The groups, which include the Business Roundtable, the National Association of Manufacturers, and the Information Technology Industry Council, argue that the restrictions will harm the Indian economy and consumers. They said that the restrictions will raise prices for computers, make it more difficult for businesses to get the equipment they need, and stifle innovation.
China's economic slowdown and subsequent deflation will have a mixed impact on the Indian economy. On the one hand, a weaker Chinese economy will mean lower demand for Indian exports, which could hurt growth. On the other hand, a weaker yuan will make Indian imports cheaper, which could boost consumption.
The government has announced that it will sell onions at a subsidised rate of Rs 25 per kg through retail outlets and mobile vans starting Monday. The sale will be done by the National Cooperative Consumers' Federation of India Limited (NCCF). The government has taken this step to provide relief to consumers from the high prices of onions, which have been hovering around Rs 40–50 per kg in recent weeks. The subsidised sale will be available in Delhi, and the government plans to expand it to other parts of the country in the coming days.
Shares of Jio Financial Services, the demerged financial services unit of Reliance Industries, listed on the bourses on Monday, with the stock falling nearly 5 per cent to hit the lower circuit limit. On the BSE, shares of the company began the trade at Rs 265, up 1.20 per cent against Rs 261.85, the price fixed at a special price discovery session held last month. However, the stock later fell by 3.85 per cent to hit Rs 251.75 -- its lower circuit limit -- against Rs 261.85.
With retail sales of $3.23 billion (around Rs 26,852 crore) in 2022, India has moved up to 11th position in the top markets of direct sellers ranking, as per the World Federation of Direct Selling Association (WFDSA) report.

Can investing in equities make you rich? 4 money making tips

Sunday 20 August 2023 01:30 AM UTC+00
Investing in equities is one of the most popular ways to create wealth in long term. The number of opportunities equities hold for investors cannot be stated in one go. It has an immense number of opportunities apart from just buying and selling stocks.  
The Indian chemical industry is poised for growth and has the potential to become a USD1 trillion market by 2040, with a CAGR of 8–10 per cent over 2021–2040. The domestic sector businesses with deep chemistry expertise, scale of products, and financial discipline are on a solid run as they possess resilience and the moat to weather headwinds.
Uttar Pradesh (UP) and Gujarat are among the top 5 states in India in terms of new investments in 2022-23. According to a study by the Reserve Bank of India (RBI), these two states together accounted for 57.2% of the total investment proposals made during the year. In 2022-23, UP attracted the highest share of new investments, with a total project cost of Rs. 43,180 crore. This was followed by Gujarat (Rs. 37,317 crore), Odisha (Rs. 11,810 crore), Maharashtra (Rs. 7,900 crore) and Karnataka (Rs. 7,300 crore).
The government expects vegetable prices to start cooling off from next month with the advent of new crops in the market, but rising crude oil prices is a concern even though it is still within the tolerable zone of USD 90 a barrel, a finance ministry official said. The official further said that a reduction in excise duty is not on the cards and the government is driving infrastructure investment, and private sector capital investment is yet to gather steam.
Top industry groups have asked the US government to urge India to reconsider its decision to impose import restrictions on laptops, tablets, and personal computers (PCs). The groups, which include the Business Roundtable, the National Association of Manufacturers, and the Information Technology Industry Council, argue that the restrictions will harm the Indian economy and consumers. They said that the restrictions will raise prices for computers, make it more difficult for businesses to get the equipment they need, and stifle innovation.
China's economic slowdown and subsequent deflation will have a mixed impact on the Indian economy. On the one hand, a weaker Chinese economy will mean lower demand for Indian exports, which could hurt growth. On the other hand, a weaker yuan will make Indian imports cheaper, which could boost consumption.
The government has announced that it will sell onions at a subsidised rate of Rs 25 per kg through retail outlets and mobile vans starting Monday. The sale will be done by the National Cooperative Consumers' Federation of India Limited (NCCF). The government has taken this step to provide relief to consumers from the high prices of onions, which have been hovering around Rs 40–50 per kg in recent weeks. The subsidised sale will be available in Delhi, and the government plans to expand it to other parts of the country in the coming days.
Shares of Jio Financial Services, the demerged financial services unit of Reliance Industries, listed on the bourses on Monday, with the stock falling nearly 5 per cent to hit the lower circuit limit. On the BSE, shares of the company began the trade at Rs 265, up 1.20 per cent against Rs 261.85, the price fixed at a special price discovery session held last month. However, the stock later fell by 3.85 per cent to hit Rs 251.75 -- its lower circuit limit -- against Rs 261.85.
With retail sales of $3.23 billion (around Rs 26,852 crore) in 2022, India has moved up to 11th position in the top markets of direct sellers ranking, as per the World Federation of Direct Selling Association (WFDSA) report.
Power Minister RK Singh will hold a meeting on August 22 to review the availability of coal for thermal power plants, especially in view of the ongoing monsoon season, even as coal ministry has said that 77 million tonnes of dry fuel is currently available, which is more than sufficient to meet the requirement of power sector, highly placed sources said.
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