Sixteenth Finance Commission chairperson Arvind Panagariya on Sunday mooted a mechanism that brings together data generated by various Finance Commissions in one place. Noting that a lot of statistics are compiled each time by the Constitutional body appointed every five years, which could come in handy for future Commissions’ work. “Apparently, Finance Commissions are appointed…
The BSE Sensex recorded the best monthly gain in June by climbing 7.14%. The Sensex breached the historic 79,000 mark on June 27. | Photo Credit: Reuters Nine of the top-10 most valued firms together added ₹2,89,699.42 crore in market valuation last week, with Reliance Industries emerging as the biggest gainer, in line with a…
I am a retired foreign citizen with an OCI card and a tax resident of India, and have been filing annual returns, including foreign pensions credited to my Indian account, regularly. My wife, an Indian citizen and homemaker, has no income and is not a taxpayer. Can I transfer funds from abroad to her as…
SBI Mutual Fund has launched SBI Silver ETF and SBI Silver ETF Fund-of-Fund. Silver ETF will primarily invest 95-100 per cent in silver and silver-related instruments, while the Silver ETF Fund of Fund would invest a 95-100 per cent in units of SBI Silver ETF. The balance of the assets will be invested in Government…
The National Mineral Exploration Trust has recently approved the exploration projects submitted by Mineral Exploration and Consultancy Ltd (earlier called Mineral Exploration and Corporation Limited) for gold and rare-earth elements (REE) in Krishnagiri and Tiruppur districts. It is also an exploration project for graphite in the Arasanur East block submitted by the Kudremukh Iron Ore…
All Kerala Gold & Silver Merchants Association has requested the Union Finance Ministry to reduce the basic customs duty on gold to encourage domestic manufacturing and exports. The recent increase in import duty from 7.5 to 15 per cent has significantly impacted production costs. The increased duty has resulted in additional taxation exceeding ₹9 lakhs…
The Union Finance Ministry is gearing up to present the full Union Budget for the fiscal year 2024-25 in July. Several stakeholders from the education sector voiced their expectations from Finance Minister Nirmala Sitharaman. The Union Budget for this financial year, comprising estimated receipts and expenditures of the government in various sectors, is expected to…
The Indian Bullion and Jewellers Association (IBJA) has reconstituted its governing board for 2024-29 with Prithviraj Kothari of Riddi Siddhi Bullion Ltd as the national president. Aksha Mohit Kamboj, Executive Chairman of Aspect Global Ventures Pvt Ltd, has been appointed the national vice-president of the association, while Surendra Mehta C.A., will be the national secretary. …
Equity benchmark indices climbed in early trade on Monday amid buying in blue-chip stocks like Reliance Industries and Bharti Airtel along with a rally in Asian markets. The 30-share BSE Sensex rose 69.63 points to 79,102.36 in early trade. The Nifty went up by 37.85 points to 24,048.45. Among the Sensex pack, Maruti, JSW Steel,…
Drugmaker Wockhardt said its investigational antibiotic Zaynich (Zidebactam/Cefepime WCK 5222) was successfully used to treat a cancer patient in the United States, who had chronic bilateral thigh infection caused by an extreme-drug resistant pseudomonas. Also read: Wockhardt Q4 results: Reports net loss of ₹177 crore; antibiotic products show progress This marked the first instance in…
