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IndiaTV Business: Google News Feed: Digest for July 15, 2024

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Budget 2024: To boost domestic and inbound tourism, the travel and tourism industry has requested the government to consider a uniform 12 per cent GST rate on hotels in the upcoming Budget for 2024-2025. Union Finance Minister Nirmala Sitharaman is scheduled to present the Budget for 2024-25 in the Lok Sabha on July 23. 
Union Budget 2024: The Association of Indian Medical Device Industry (AiMeD) has appealed to the government to consider a strategic increase in customs duty on medical devices, proposing a raise to a nominal range of around 15 per cent. In its pre-budget memorandum submitted to the Ministry of Finance, Union Health and Family Welfare Minister JP Nadda, Secretary Apurva Chandra, and Department of Pharmacy Secretary Arunish Chawla, AiMeD emphasised the need to revise the current customs duty rate of 7.5 per cent. This step, according to AiMeD, aims to bolster the domestic medical device manufacturing sector and align with broader economic strategies.
Stock markets update: Equity benchmark indices opened higher in early trade on Thursday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 245.32 points to 80,170.09. Meanwhile, the Nifty was also up by 78.2 points to 24,402.65.  
Budget 2024: Budget 2024: As Union Finance Minister Nirmala Sitharaman prepares to present her seventh Budget and the first full budget of the Modi 3.0 government on July 23, 2024, in the Lok Sabha, let's take a look at some of India's iconic budgets.
Insurance sector stakeholders are urging for more tax benefits under the new tax regime. Anup Rau, MD and CEO of Future Generali India Insurance Company, highlighted that the deduction limit on health insurance premiums under Section 80D has not changed in nine years, despite rising healthcare costs. Rau suggested linking the limit to inflation for automatic adjustments.
Stock markets update: Equity benchmark indices opened higher in early trade on Friday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 226.11 points to 80,123.45 Meanwhile, the Nifty was also up by 82.1 points to 24,398.05.
The Sensex and Nifty soared nearly 1% on Friday, reaching new lifetime highs driven by robust gains in IT stocks and hopes of a US Federal Reserve rate cut. The BSE Sensex jumped 622 points (0.78%) to a record closing level of 80,519.34. Intra-day, it hit an all-time high of 80,893.51, up 996.17 points (1.24%). The NSE Nifty surged 186.20 points (0.77%) to close at a record 24,502.15. During the day, it peaked at 24,592.20, up 276.25 points (1.13%).
HDFC Bank and Axis Bank have informed their combined 140 million customers about potential service disruptions this weekend due to system upgrades. Both banks are enhancing their core banking systems, which may affect online and mobile banking services temporarily.
Retail inflation in the country has surged to 5.08 per cent in June against 4.8 per cent in May, government data mentioned on Friday. Meanwhile, the Industrial production jumped to 5.9 per cent in May against 5.7 per cent expansion a year ago, the data said.
Union Budget 2024: The Association of Indian Medical Device Industry (AiMeD) has appealed to the government to consider a strategic increase in customs duty on medical devices, proposing a raise to a nominal range of around 15 per cent. In its pre-budget memorandum submitted to the Ministry of Finance, Union Health and Family Welfare Minister JP Nadda, Secretary Apurva Chandra, and Department of Pharmacy Secretary Arunish Chawla, AiMeD emphasised the need to revise the current customs duty rate of 7.5 per cent. This step, according to AiMeD, aims to bolster the domestic medical device manufacturing sector and align with broader economic strategies.
Stock markets update: Equity benchmark indices opened higher in early trade on Thursday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 245.32 points to 80,170.09. Meanwhile, the Nifty was also up by 78.2 points to 24,402.65.  
Budget 2024: Budget 2024: As Union Finance Minister Nirmala Sitharaman prepares to present her seventh Budget and the first full budget of the Modi 3.0 government on July 23, 2024, in the Lok Sabha, let's take a look at some of India's iconic budgets.
Insurance sector stakeholders are urging for more tax benefits under the new tax regime. Anup Rau, MD and CEO of Future Generali India Insurance Company, highlighted that the deduction limit on health insurance premiums under Section 80D has not changed in nine years, despite rising healthcare costs. Rau suggested linking the limit to inflation for automatic adjustments.
Stock markets update: Equity benchmark indices opened higher in early trade on Friday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 226.11 points to 80,123.45 Meanwhile, the Nifty was also up by 82.1 points to 24,398.05.
The Sensex and Nifty soared nearly 1% on Friday, reaching new lifetime highs driven by robust gains in IT stocks and hopes of a US Federal Reserve rate cut. The BSE Sensex jumped 622 points (0.78%) to a record closing level of 80,519.34. Intra-day, it hit an all-time high of 80,893.51, up 996.17 points (1.24%). The NSE Nifty surged 186.20 points (0.77%) to close at a record 24,502.15. During the day, it peaked at 24,592.20, up 276.25 points (1.13%).
HDFC Bank and Axis Bank have informed their combined 140 million customers about potential service disruptions this weekend due to system upgrades. Both banks are enhancing their core banking systems, which may affect online and mobile banking services temporarily.
Retail inflation in the country has surged to 5.08 per cent in June against 4.8 per cent in May, government data mentioned on Friday. Meanwhile, the Industrial production jumped to 5.9 per cent in May against 5.7 per cent expansion a year ago, the data said.

Automobile exports from India rise 15.5 per cent in Q1

Sunday 14 July 2024 06:04 AM UTC+00
Automobile exports from India increased 15.5 per cent year-on-year in the June quarter with all verticals, barring three-wheelers, recording growth in shipments, according to the latest SIAM data. Overall shipments stood at 11,92,577 units in the first quarter the current fiscal year, as compared with 10,32,449 units in the same period of the last fiscal.
Budget 2024: Budget 2024: As Union Finance Minister Nirmala Sitharaman prepares to present her seventh Budget and the first full budget of the Modi 3.0 government on July 23, 2024, in the Lok Sabha, let's take a look at some of India's iconic budgets.
Insurance sector stakeholders are urging for more tax benefits under the new tax regime. Anup Rau, MD and CEO of Future Generali India Insurance Company, highlighted that the deduction limit on health insurance premiums under Section 80D has not changed in nine years, despite rising healthcare costs. Rau suggested linking the limit to inflation for automatic adjustments.
Stock markets update: Equity benchmark indices opened higher in early trade on Friday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 226.11 points to 80,123.45 Meanwhile, the Nifty was also up by 82.1 points to 24,398.05.
The Sensex and Nifty soared nearly 1% on Friday, reaching new lifetime highs driven by robust gains in IT stocks and hopes of a US Federal Reserve rate cut. The BSE Sensex jumped 622 points (0.78%) to a record closing level of 80,519.34. Intra-day, it hit an all-time high of 80,893.51, up 996.17 points (1.24%). The NSE Nifty surged 186.20 points (0.77%) to close at a record 24,502.15. During the day, it peaked at 24,592.20, up 276.25 points (1.13%).
HDFC Bank and Axis Bank have informed their combined 140 million customers about potential service disruptions this weekend due to system upgrades. Both banks are enhancing their core banking systems, which may affect online and mobile banking services temporarily.
Retail inflation in the country has surged to 5.08 per cent in June against 4.8 per cent in May, government data mentioned on Friday. Meanwhile, the Industrial production jumped to 5.9 per cent in May against 5.7 per cent expansion a year ago, the data said.

Automobile exports from India rise 15.5 per cent in Q1

Sunday 14 July 2024 06:04 AM UTC+00
Automobile exports from India increased 15.5 per cent year-on-year in the June quarter with all verticals, barring three-wheelers, recording growth in shipments, according to the latest SIAM data. Overall shipments stood at 11,92,577 units in the first quarter the current fiscal year, as compared with 10,32,449 units in the same period of the last fiscal.
Budget 2024: Startups in India are eagerly anticipating significant measures from the upcoming Union Budget. Early-stage startups are advocating for the elimination of angel taxes, while health tech startups are hopeful for enhanced funding allocations specifically targeted at their sector.
ITR Filing 2024: As the deadline for filing income tax returns (ITR) approaches, taxpayers have either submitted or are gearing up to file their ITR. The filing deadline to file the return is July 31. It's important to understand that submitting the income tax return is not the final step in the process. After submitting your return, it's crucial to verify it within 30 days. Failure to do so promptly can result in penalties, as per the Income Tax Act, 1961.
Budget 2024: Budget 2024: As Union Finance Minister Nirmala Sitharaman prepares to present her seventh Budget and the first full budget of the Modi 3.0 government on July 23, 2024, in the Lok Sabha, let's take a look at some of India's iconic budgets.
Insurance sector stakeholders are urging for more tax benefits under the new tax regime. Anup Rau, MD and CEO of Future Generali India Insurance Company, highlighted that the deduction limit on health insurance premiums under Section 80D has not changed in nine years, despite rising healthcare costs. Rau suggested linking the limit to inflation for automatic adjustments.
Stock markets update: Equity benchmark indices opened higher in early trade on Friday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 226.11 points to 80,123.45 Meanwhile, the Nifty was also up by 82.1 points to 24,398.05.
The Sensex and Nifty soared nearly 1% on Friday, reaching new lifetime highs driven by robust gains in IT stocks and hopes of a US Federal Reserve rate cut. The BSE Sensex jumped 622 points (0.78%) to a record closing level of 80,519.34. Intra-day, it hit an all-time high of 80,893.51, up 996.17 points (1.24%). The NSE Nifty surged 186.20 points (0.77%) to close at a record 24,502.15. During the day, it peaked at 24,592.20, up 276.25 points (1.13%).
HDFC Bank and Axis Bank have informed their combined 140 million customers about potential service disruptions this weekend due to system upgrades. Both banks are enhancing their core banking systems, which may affect online and mobile banking services temporarily.
Retail inflation in the country has surged to 5.08 per cent in June against 4.8 per cent in May, government data mentioned on Friday. Meanwhile, the Industrial production jumped to 5.9 per cent in May against 5.7 per cent expansion a year ago, the data said.

Automobile exports from India rise 15.5 per cent in Q1

Sunday 14 July 2024 06:04 AM UTC+00
Automobile exports from India increased 15.5 per cent year-on-year in the June quarter with all verticals, barring three-wheelers, recording growth in shipments, according to the latest SIAM data. Overall shipments stood at 11,92,577 units in the first quarter the current fiscal year, as compared with 10,32,449 units in the same period of the last fiscal.
Budget 2024: Startups in India are eagerly anticipating significant measures from the upcoming Union Budget. Early-stage startups are advocating for the elimination of angel taxes, while health tech startups are hopeful for enhanced funding allocations specifically targeted at their sector.
ITR Filing 2024: As the deadline for filing income tax returns (ITR) approaches, taxpayers have either submitted or are gearing up to file their ITR. The filing deadline to file the return is July 31. It's important to understand that submitting the income tax return is not the final step in the process. After submitting your return, it's crucial to verify it within 30 days. Failure to do so promptly can result in penalties, as per the Income Tax Act, 1961.
Budget 2024: Budget 2024: As Union Finance Minister Nirmala Sitharaman prepares to present her seventh Budget and the first full budget of the Modi 3.0 government on July 23, 2024, in the Lok Sabha, let's take a look at some of India's iconic budgets.
Insurance sector stakeholders are urging for more tax benefits under the new tax regime. Anup Rau, MD and CEO of Future Generali India Insurance Company, highlighted that the deduction limit on health insurance premiums under Section 80D has not changed in nine years, despite rising healthcare costs. Rau suggested linking the limit to inflation for automatic adjustments.
Stock markets update: Equity benchmark indices opened higher in early trade on Friday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 226.11 points to 80,123.45 Meanwhile, the Nifty was also up by 82.1 points to 24,398.05.
The Sensex and Nifty soared nearly 1% on Friday, reaching new lifetime highs driven by robust gains in IT stocks and hopes of a US Federal Reserve rate cut. The BSE Sensex jumped 622 points (0.78%) to a record closing level of 80,519.34. Intra-day, it hit an all-time high of 80,893.51, up 996.17 points (1.24%). The NSE Nifty surged 186.20 points (0.77%) to close at a record 24,502.15. During the day, it peaked at 24,592.20, up 276.25 points (1.13%).
HDFC Bank and Axis Bank have informed their combined 140 million customers about potential service disruptions this weekend due to system upgrades. Both banks are enhancing their core banking systems, which may affect online and mobile banking services temporarily.
Retail inflation in the country has surged to 5.08 per cent in June against 4.8 per cent in May, government data mentioned on Friday. Meanwhile, the Industrial production jumped to 5.9 per cent in May against 5.7 per cent expansion a year ago, the data said.

Automobile exports from India rise 15.5 per cent in Q1

Sunday 14 July 2024 06:04 AM UTC+00
Automobile exports from India increased 15.5 per cent year-on-year in the June quarter with all verticals, barring three-wheelers, recording growth in shipments, according to the latest SIAM data. Overall shipments stood at 11,92,577 units in the first quarter the current fiscal year, as compared with 10,32,449 units in the same period of the last fiscal.
Budget 2024: Startups in India are eagerly anticipating significant measures from the upcoming Union Budget. Early-stage startups are advocating for the elimination of angel taxes, while health tech startups are hopeful for enhanced funding allocations specifically targeted at their sector.
ITR Filing 2024: As the deadline for filing income tax returns (ITR) approaches, taxpayers have either submitted or are gearing up to file their ITR. The filing deadline to file the return is July 31. It's important to understand that submitting the income tax return is not the final step in the process. After submitting your return, it's crucial to verify it within 30 days. Failure to do so promptly can result in penalties, as per the Income Tax Act, 1961.
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