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IndiaTV Business: Google News Feed: Digest for July 18, 2024

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As Finance Minister Nirmala Sitharaman prepares to present the Union Budget next week, the private space sector has outlined several key expectations. Among the primary requests are the inclusion of space sector-related imports in the list of tax-exempt items, an exemption from the Goods and Services Tax (GST) for components used in launch vehicles, and the introduction of productivity-linked incentives (PLI). Additionally, the sector hopes for a more proactive role from the government, particularly by stepping in as an anchor customer to support the nascent private space industry. 
The Reserve Bank of India on Monday (July 15) revised its master directions on fraud risk management to incorporate the recommendations of a Supreme Court judgement which asks banks to hear a borrower before an account is classified as fraud. The RBI said the three revised master directions on fraud risk management are principle-based and strengthen the role of the board in overall governance and oversight of fraud risk management.
Stock markets update: In early trade on Tuesday, the Sensex surged by 185.55 points, reaching 80,850.41, reflecting strong investor sentiment and positive market dynamics. Meanwhile, the Nifty also saw substantial gains, rallying by 63.35 points to achieve a new all-time high of 24,650.05. This upward movement is indicative of robust investor confidence amid favourable economic indicators and corporate earnings reports. Market analysts attribute the rise to increased buying across sectors, including banking, IT, and FMCG, bolstering the overall market sentiment. 
Budget 2024: There are high expectations regarding a potential reduction in the price of mobile phones in the upcoming budget. Smartphone buyers are eager to know if Finance Minister Nirmala Sitharaman will announce measures to make phones cheaper. Sitharaman is set to present her seventh budget in Parliament on July 23. Last year, the central government reduced import taxes on key components, such as camera lenses, to promote mobile phone manufacturing in India. According to the Financial Express report, the Finance Minister had also cut the tax rate on lithium-ion batteries, an essential component for phones and electric vehicles. This policy change aims to make it cheaper for companies to manufacture phones in India.
Ashura, as part of Muharram, will be observed in India from the evening of July 16 (Tuesday) and will continue till July 17 (Wednesday). Muharram is the first month of the Islamic calendar and is the second holiest month in Islam after Ramadan. July 17 will also mark the start of the Islamic New Year. Since the day has been designated a gazetted holiday by the government of India, the banks will remain closed in many states.
Indian stock indices, Sensex and Nifty, continued their upward momentum, closing at new record highs on Tuesday. The Sensex ended the day at 80,716.55 points, up 0.1%, while the Nifty settled at 24,613.00 points, also up 0.1%. Despite the overall positive close, most sectoral indices ended in the red. Nifty Media saw the biggest decline at 1.03%, while Nifty Realty rose the most at 1.66%, according to NSE data.
The annual Halwa ceremony, signalling the finalisation of budget preparation for the full Budget of 2024–25, took place at North Block on Tuesday. Union Finance Minister Nirmala Sitharaman, accompanied by Minister of State Pankaj Chaudhary and senior secretaries, presided over the event. The ceremony involves the preparation of Halwa in a large 'kadhai' as a symbolic gesture before the budget documents are locked in.
The International Monetary Fund (IMF) has upheld its global growth forecast of 3.2% for 2024 in its latest World Economic Outlook update released on Tuesday. However, the IMF has adjusted projections downward for the United States and Japan due to slower-than-expected starts to the year and temporary supply chain disruptions.
The Bengaluru bench of the National Company Law Tribunal (NCLT) on Tuesday allowed bankruptcy proceedings against Edtech firm Byju's after it failed to pay Rs 158.9 crore to the cricket board BCCI. The NCLT has appointed Pankaj Srivastava as an interim resolution professional, suspended Byju's board of directors and frozen its assets.
ITR Filing 2024: Filing Income Tax Returns (ITR) is necessary as it reflects the taxpayer's income for the respective financial year. To avoid penalties, it is essential to file it before the deadline. For FY 2023-24 (Assessment Year 2024-25), the last date to file ITR is July 31, 2024. If you miss this deadline, you can still file a belated return by December 31, 2024, but it will attract penalties, which vary based on your income level.
The Reserve Bank of India on Monday (July 15) revised its master directions on fraud risk management to incorporate the recommendations of a Supreme Court judgement which asks banks to hear a borrower before an account is classified as fraud. The RBI said the three revised master directions on fraud risk management are principle-based and strengthen the role of the board in overall governance and oversight of fraud risk management.
Stock markets update: In early trade on Tuesday, the Sensex surged by 185.55 points, reaching 80,850.41, reflecting strong investor sentiment and positive market dynamics. Meanwhile, the Nifty also saw substantial gains, rallying by 63.35 points to achieve a new all-time high of 24,650.05. This upward movement is indicative of robust investor confidence amid favourable economic indicators and corporate earnings reports. Market analysts attribute the rise to increased buying across sectors, including banking, IT, and FMCG, bolstering the overall market sentiment. 
Budget 2024: There are high expectations regarding a potential reduction in the price of mobile phones in the upcoming budget. Smartphone buyers are eager to know if Finance Minister Nirmala Sitharaman will announce measures to make phones cheaper. Sitharaman is set to present her seventh budget in Parliament on July 23. Last year, the central government reduced import taxes on key components, such as camera lenses, to promote mobile phone manufacturing in India. According to the Financial Express report, the Finance Minister had also cut the tax rate on lithium-ion batteries, an essential component for phones and electric vehicles. This policy change aims to make it cheaper for companies to manufacture phones in India.
Ashura, as part of Muharram, will be observed in India from the evening of July 16 (Tuesday) and will continue till July 17 (Wednesday). Muharram is the first month of the Islamic calendar and is the second holiest month in Islam after Ramadan. July 17 will also mark the start of the Islamic New Year. Since the day has been designated a gazetted holiday by the government of India, the banks will remain closed in many states.
Indian stock indices, Sensex and Nifty, continued their upward momentum, closing at new record highs on Tuesday. The Sensex ended the day at 80,716.55 points, up 0.1%, while the Nifty settled at 24,613.00 points, also up 0.1%. Despite the overall positive close, most sectoral indices ended in the red. Nifty Media saw the biggest decline at 1.03%, while Nifty Realty rose the most at 1.66%, according to NSE data.
The annual Halwa ceremony, signalling the finalisation of budget preparation for the full Budget of 2024–25, took place at North Block on Tuesday. Union Finance Minister Nirmala Sitharaman, accompanied by Minister of State Pankaj Chaudhary and senior secretaries, presided over the event. The ceremony involves the preparation of Halwa in a large 'kadhai' as a symbolic gesture before the budget documents are locked in.
The International Monetary Fund (IMF) has upheld its global growth forecast of 3.2% for 2024 in its latest World Economic Outlook update released on Tuesday. However, the IMF has adjusted projections downward for the United States and Japan due to slower-than-expected starts to the year and temporary supply chain disruptions.
The Bengaluru bench of the National Company Law Tribunal (NCLT) on Tuesday allowed bankruptcy proceedings against Edtech firm Byju's after it failed to pay Rs 158.9 crore to the cricket board BCCI. The NCLT has appointed Pankaj Srivastava as an interim resolution professional, suspended Byju's board of directors and frozen its assets.
ITR Filing 2024: Filing Income Tax Returns (ITR) is necessary as it reflects the taxpayer's income for the respective financial year. To avoid penalties, it is essential to file it before the deadline. For FY 2023-24 (Assessment Year 2024-25), the last date to file ITR is July 31, 2024. If you miss this deadline, you can still file a belated return by December 31, 2024, but it will attract penalties, which vary based on your income level.
Stock market update: Indian stock markets are closed today (July 17) in observance of the Muharram holiday, and trading will resume on Thursday. Muharram, the first month of the Islamic lunar calendar, is a significant period for Muslims worldwide. It marks the beginning of the Islamic New Year and holds great religious importance. 
The Reserve Bank of India on Monday (July 15) revised its master directions on fraud risk management to incorporate the recommendations of a Supreme Court judgement which asks banks to hear a borrower before an account is classified as fraud. The RBI said the three revised master directions on fraud risk management are principle-based and strengthen the role of the board in overall governance and oversight of fraud risk management.
Stock markets update: In early trade on Tuesday, the Sensex surged by 185.55 points, reaching 80,850.41, reflecting strong investor sentiment and positive market dynamics. Meanwhile, the Nifty also saw substantial gains, rallying by 63.35 points to achieve a new all-time high of 24,650.05. This upward movement is indicative of robust investor confidence amid favourable economic indicators and corporate earnings reports. Market analysts attribute the rise to increased buying across sectors, including banking, IT, and FMCG, bolstering the overall market sentiment. 
Budget 2024: There are high expectations regarding a potential reduction in the price of mobile phones in the upcoming budget. Smartphone buyers are eager to know if Finance Minister Nirmala Sitharaman will announce measures to make phones cheaper. Sitharaman is set to present her seventh budget in Parliament on July 23. Last year, the central government reduced import taxes on key components, such as camera lenses, to promote mobile phone manufacturing in India. According to the Financial Express report, the Finance Minister had also cut the tax rate on lithium-ion batteries, an essential component for phones and electric vehicles. This policy change aims to make it cheaper for companies to manufacture phones in India.
Ashura, as part of Muharram, will be observed in India from the evening of July 16 (Tuesday) and will continue till July 17 (Wednesday). Muharram is the first month of the Islamic calendar and is the second holiest month in Islam after Ramadan. July 17 will also mark the start of the Islamic New Year. Since the day has been designated a gazetted holiday by the government of India, the banks will remain closed in many states.
Indian stock indices, Sensex and Nifty, continued their upward momentum, closing at new record highs on Tuesday. The Sensex ended the day at 80,716.55 points, up 0.1%, while the Nifty settled at 24,613.00 points, also up 0.1%. Despite the overall positive close, most sectoral indices ended in the red. Nifty Media saw the biggest decline at 1.03%, while Nifty Realty rose the most at 1.66%, according to NSE data.
The annual Halwa ceremony, signalling the finalisation of budget preparation for the full Budget of 2024–25, took place at North Block on Tuesday. Union Finance Minister Nirmala Sitharaman, accompanied by Minister of State Pankaj Chaudhary and senior secretaries, presided over the event. The ceremony involves the preparation of Halwa in a large 'kadhai' as a symbolic gesture before the budget documents are locked in.
The International Monetary Fund (IMF) has upheld its global growth forecast of 3.2% for 2024 in its latest World Economic Outlook update released on Tuesday. However, the IMF has adjusted projections downward for the United States and Japan due to slower-than-expected starts to the year and temporary supply chain disruptions.
The Bengaluru bench of the National Company Law Tribunal (NCLT) on Tuesday allowed bankruptcy proceedings against Edtech firm Byju's after it failed to pay Rs 158.9 crore to the cricket board BCCI. The NCLT has appointed Pankaj Srivastava as an interim resolution professional, suspended Byju's board of directors and frozen its assets.
ITR Filing 2024: Filing Income Tax Returns (ITR) is necessary as it reflects the taxpayer's income for the respective financial year. To avoid penalties, it is essential to file it before the deadline. For FY 2023-24 (Assessment Year 2024-25), the last date to file ITR is July 31, 2024. If you miss this deadline, you can still file a belated return by December 31, 2024, but it will attract penalties, which vary based on your income level.
Stock market update: Indian stock markets are closed today (July 17) in observance of the Muharram holiday, and trading will resume on Thursday. Muharram, the first month of the Islamic lunar calendar, is a significant period for Muslims worldwide. It marks the beginning of the Islamic New Year and holds great religious importance. 
The Reserve Bank of India on Monday (July 15) revised its master directions on fraud risk management to incorporate the recommendations of a Supreme Court judgement which asks banks to hear a borrower before an account is classified as fraud. The RBI said the three revised master directions on fraud risk management are principle-based and strengthen the role of the board in overall governance and oversight of fraud risk management.
Stock markets update: In early trade on Tuesday, the Sensex surged by 185.55 points, reaching 80,850.41, reflecting strong investor sentiment and positive market dynamics. Meanwhile, the Nifty also saw substantial gains, rallying by 63.35 points to achieve a new all-time high of 24,650.05. This upward movement is indicative of robust investor confidence amid favourable economic indicators and corporate earnings reports. Market analysts attribute the rise to increased buying across sectors, including banking, IT, and FMCG, bolstering the overall market sentiment. 
Budget 2024: There are high expectations regarding a potential reduction in the price of mobile phones in the upcoming budget. Smartphone buyers are eager to know if Finance Minister Nirmala Sitharaman will announce measures to make phones cheaper. Sitharaman is set to present her seventh budget in Parliament on July 23. Last year, the central government reduced import taxes on key components, such as camera lenses, to promote mobile phone manufacturing in India. According to the Financial Express report, the Finance Minister had also cut the tax rate on lithium-ion batteries, an essential component for phones and electric vehicles. This policy change aims to make it cheaper for companies to manufacture phones in India.
Ashura, as part of Muharram, will be observed in India from the evening of July 16 (Tuesday) and will continue till July 17 (Wednesday). Muharram is the first month of the Islamic calendar and is the second holiest month in Islam after Ramadan. July 17 will also mark the start of the Islamic New Year. Since the day has been designated a gazetted holiday by the government of India, the banks will remain closed in many states.
Indian stock indices, Sensex and Nifty, continued their upward momentum, closing at new record highs on Tuesday. The Sensex ended the day at 80,716.55 points, up 0.1%, while the Nifty settled at 24,613.00 points, also up 0.1%. Despite the overall positive close, most sectoral indices ended in the red. Nifty Media saw the biggest decline at 1.03%, while Nifty Realty rose the most at 1.66%, according to NSE data.
The annual Halwa ceremony, signalling the finalisation of budget preparation for the full Budget of 2024–25, took place at North Block on Tuesday. Union Finance Minister Nirmala Sitharaman, accompanied by Minister of State Pankaj Chaudhary and senior secretaries, presided over the event. The ceremony involves the preparation of Halwa in a large 'kadhai' as a symbolic gesture before the budget documents are locked in.
The International Monetary Fund (IMF) has upheld its global growth forecast of 3.2% for 2024 in its latest World Economic Outlook update released on Tuesday. However, the IMF has adjusted projections downward for the United States and Japan due to slower-than-expected starts to the year and temporary supply chain disruptions.
The Bengaluru bench of the National Company Law Tribunal (NCLT) on Tuesday allowed bankruptcy proceedings against Edtech firm Byju's after it failed to pay Rs 158.9 crore to the cricket board BCCI. The NCLT has appointed Pankaj Srivastava as an interim resolution professional, suspended Byju's board of directors and frozen its assets.
ITR Filing 2024: Filing Income Tax Returns (ITR) is necessary as it reflects the taxpayer's income for the respective financial year. To avoid penalties, it is essential to file it before the deadline. For FY 2023-24 (Assessment Year 2024-25), the last date to file ITR is July 31, 2024. If you miss this deadline, you can still file a belated return by December 31, 2024, but it will attract penalties, which vary based on your income level.
Stock market update: Indian stock markets are closed today (July 17) in observance of the Muharram holiday, and trading will resume on Thursday. Muharram, the first month of the Islamic lunar calendar, is a significant period for Muslims worldwide. It marks the beginning of the Islamic New Year and holds great religious importance. 
The Reserve Bank of India on Monday (July 15) revised its master directions on fraud risk management to incorporate the recommendations of a Supreme Court judgement which asks banks to hear a borrower before an account is classified as fraud. The RBI said the three revised master directions on fraud risk management are principle-based and strengthen the role of the board in overall governance and oversight of fraud risk management.
Stock markets update: In early trade on Tuesday, the Sensex surged by 185.55 points, reaching 80,850.41, reflecting strong investor sentiment and positive market dynamics. Meanwhile, the Nifty also saw substantial gains, rallying by 63.35 points to achieve a new all-time high of 24,650.05. This upward movement is indicative of robust investor confidence amid favourable economic indicators and corporate earnings reports. Market analysts attribute the rise to increased buying across sectors, including banking, IT, and FMCG, bolstering the overall market sentiment. 
Budget 2024: There are high expectations regarding a potential reduction in the price of mobile phones in the upcoming budget. Smartphone buyers are eager to know if Finance Minister Nirmala Sitharaman will announce measures to make phones cheaper. Sitharaman is set to present her seventh budget in Parliament on July 23. Last year, the central government reduced import taxes on key components, such as camera lenses, to promote mobile phone manufacturing in India. According to the Financial Express report, the Finance Minister had also cut the tax rate on lithium-ion batteries, an essential component for phones and electric vehicles. This policy change aims to make it cheaper for companies to manufacture phones in India.
Ashura, as part of Muharram, will be observed in India from the evening of July 16 (Tuesday) and will continue till July 17 (Wednesday). Muharram is the first month of the Islamic calendar and is the second holiest month in Islam after Ramadan. July 17 will also mark the start of the Islamic New Year. Since the day has been designated a gazetted holiday by the government of India, the banks will remain closed in many states.
Indian stock indices, Sensex and Nifty, continued their upward momentum, closing at new record highs on Tuesday. The Sensex ended the day at 80,716.55 points, up 0.1%, while the Nifty settled at 24,613.00 points, also up 0.1%. Despite the overall positive close, most sectoral indices ended in the red. Nifty Media saw the biggest decline at 1.03%, while Nifty Realty rose the most at 1.66%, according to NSE data.
The annual Halwa ceremony, signalling the finalisation of budget preparation for the full Budget of 2024–25, took place at North Block on Tuesday. Union Finance Minister Nirmala Sitharaman, accompanied by Minister of State Pankaj Chaudhary and senior secretaries, presided over the event. The ceremony involves the preparation of Halwa in a large 'kadhai' as a symbolic gesture before the budget documents are locked in.
The International Monetary Fund (IMF) has upheld its global growth forecast of 3.2% for 2024 in its latest World Economic Outlook update released on Tuesday. However, the IMF has adjusted projections downward for the United States and Japan due to slower-than-expected starts to the year and temporary supply chain disruptions.
The Bengaluru bench of the National Company Law Tribunal (NCLT) on Tuesday allowed bankruptcy proceedings against Edtech firm Byju's after it failed to pay Rs 158.9 crore to the cricket board BCCI. The NCLT has appointed Pankaj Srivastava as an interim resolution professional, suspended Byju's board of directors and frozen its assets.
ITR Filing 2024: Filing Income Tax Returns (ITR) is necessary as it reflects the taxpayer's income for the respective financial year. To avoid penalties, it is essential to file it before the deadline. For FY 2023-24 (Assessment Year 2024-25), the last date to file ITR is July 31, 2024. If you miss this deadline, you can still file a belated return by December 31, 2024, but it will attract penalties, which vary based on your income level.
Stock market update: Indian stock markets are closed today (July 17) in observance of the Muharram holiday, and trading will resume on Thursday. Muharram, the first month of the Islamic lunar calendar, is a significant period for Muslims worldwide. It marks the beginning of the Islamic New Year and holds great religious importance. 
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