Category: Finance

Mr Sunil H Talati, SEPC, Chairman, Ministry of Commerce and Industry says, “The Union Budget as presented by Hon’ble Finance Minister is growth-oriented, forward-looking, focussing on infrastructure and CAPEX. The budget will serve the poor farmers and create new job opportunities. Focus on roads, railways, airports, Mass transport, waterways, and logistics infrastructure will drive the PM Gati Shakti program and propel inclusive development. Post pandemic conditions of the Hospitality services in the small & medium segments are yet to bounce back, therefore, an extension of the ECGL service in March 2023 with an increased cover of Rs 50,000 shall act ... Read more

“The budget recognizes the importance of barriers in improving our export competitiveness and has addressed these barriers e.g. logistics, SEZ etc. The PM Gatishkati National Master Plan and the development of Multimodal Logistics Park at four locations are examples. Cargo terminals under the PM Gatishkati Cargo Terminals by the Railways for multimodal transport in the next three years. It has underscored the importance of GVCs and the necessity of linking with value chains to promote exports. It has rationalized the customs duty on items of chemicals, electronics, and gems and jewellery to give a fillip to domestic manufacturing. To promote ... Read more

It was a well-rounded budget with a continued focus on growth in different sectors like education, health, infrastructure, and agriculture. The announcement of the setting up of 75 digital banks across 75 districts of the country gives an additional boost to digital payments and the fintech ecosystem in the country. With this budget, India’s tax regime on virtual assets like cryptocurrency is also finally here with the government introducing taxation on crypto at 30% along with 1% TDS. This higher taxation rate puts cryptocurrencies at a disadvantage against equity investments like stocks and Mutual funds that attract an LTCG of ... Read more

“The announcements made in the Union Budget by the Honourable Finance Minister Nirmala Sitharaman have covered all the aspects crucial to make resources available and accessible to the last person standing in the line, benefitting the people of the community. The Saksham Angwanwadi and Poshan 2.0 program will not only provide benefits to 2 lakh Anganwadis but will also ensure development of each section of the society for a healthy and prosperous India. This will strengthen the core of early childhood education which is the need of the hour in the pandemic. We also welcome the steps announced to upskill ... Read more

Anupam Rasayan India Ltd. (NSE, BSE: ANURAS) (“ARIL”), one of India’s leading custom synthesis and speciality chemical players, today announced that its Board of Directors has approved the acquisition of 24.96% of the total equity shareholding of and joint control of Tanfac Industries Limited (“TIL”) from Birla Group Holdings Private Limited (“BGH”), (a promoter company which is part of Aditya Birla Group) and few other promoter group of TIL (“Sellers”) and the launching of an open offer under the Securities Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 2011 to acquire a further 26% shareholding from the public ... Read more

At a time in which many nonprofits have struggled to stay afloat, GiveIndia’s annual fundraising challenge – starting tomorrow, February 1 – comes as a boon with ₹4 crores to give away as rewards to NGOs who participate. In the last seven years, Bengaluru-based GiveIndia has awarded more than ₹10 crores to participating Indian NGOs to support their impact interventions. About 60 nonprofit organizations – among the 450+ who join the challenge – raise anything between 30-80 percent of their yearly fundraising budget during GFC. The event is held in the last two months of the financial year, giving donors ... Read more