MUMBAI (Reuters) – India wants to discourage “excessive speculation” in the derivatives market, and tax changes announced in the budget are intended as one way to do this, a senior finance ministry official said on Wednesday. The government raised the transaction tax on derivative trading on Tuesday. It also increased capital gains tax on equity …
India wants to curb speculative derivatives trading, ministry says Read More »
By Aadi Nair PARIS (Reuters) – The International Olympic Committee (IOC) should investigate India’s wrestling federation (WFI) and bolster its tools to report cases of sexual harassment, the Sport and Rights Alliance (SRA) said in a report published on Tuesday. Several Indian wrestlers protested last year, demanding criminal action against WFI chief Brij Bhushan Sharan …
By Jayshree P Upadhyay MUMBAI (Reuters) -The Indian government raised the tax rate on equity derivatives trades and on capital gains from equity investments on Tuesday, which fund managers said may hurt short-term sentiment in the market but incentivise longer-term investment. The government raised the tax on stocks held for less than one year to …
India hikes taxes on equity investments; fund managers see short-term hit Read More »
By Kripa Jayaram and Vineet Sachdev MUMBAI (Reuters) – India struck a balance between greater spending on jobs and rural development as well as transferring more funds to states, while narrowing the fiscal deficit, the 2024-25 budget unveiled on Tuesday showed. The budget comes on the heels of last month’s election setback in which Prime …
India budget shifts spending priorities while keeping fiscal deficit in check Read More »
By Ashwin Manikandan and Haripriya Suresh BENGALURU (Reuters) – India abolished a tax it had imposed on investors pumping money into its startups on Tuesday, in a move that is expected to spur innovation and boost funding for fledgling companies in Asia’s No.3 economy. “To bolster the India startup ecosystem, to boost entrepreneurial spirit and …
INDIA BUDGET – India scraps ‘angel tax’; startup investors rejoice Read More »
(Reuters) – India struck a balance between greater spending on jobs and rural development while narrowing the fiscal deficit in its 2024-25 budget unveiled on Tuesday. The government will spend $24 billion on job-spurring efforts over the next five years and $32 billion on rural development this year alone, Finance Minister Nirmala Sitharaman said while …
By Nishit Navin BENGALURU (Reuters) -India’s Bajaj Finance said on Tuesday it expects to see normalisation in loan losses only from October, after it missed first-quarter profit estimates due to higher provisions. “Loan losses may remain at current levels in second-quarter and should start to normalize by the third-quarter,” the company said in a post-earnings …
India’s Bajaj Finance forecasts improvement in loan losses from Q3 Read More »
(Reuters) -India will spend $24 billion in job-spurring efforts over the next five years and boost rural spending, Finance Minister Nirmala Sitharaman said on Tuesday in the 2024/25 budget, unveiled after last month’s election setback for the government. COMMENTARY: SANDEEP NAYAK, ED & CEO OF CENTRUM BROKING, RETAIL, MUMBAI “The triad of welfare spends, capital …
India unveils incentives to create jobs in first budget after election Read More »
(Reuters) – India’s new head coach Gautam Gambhir believes veteran batsmen Virat Kohli and Rohit Sharma can both continue playing until the 2027 World Cup if they remain fit but said on Monday that the decision was entirely up to them. Rohit, 37, and his opening partner Kohli, 35, quit Twenty20 Internationals last month after …
Cricket-New India coach Gambhir backs Kohli, Rohit to play 2027 World Cup Read More »
MUMBAI (Reuters) – The sharp jump in derivative trading by Indian retail investors is likely driven by a “gambling instinct”, a finance ministry report said on Monday, cautioning that any sharp correction in the stock market could drive away young investors. “Derivatives trading holds the potential for outsized gains. Thus, it caters to humans’ gambling …
