Market and Business News

- New interest rates will come into effect from January 1: Government's gift to the people for 2023 - Kisan Vikas Patra interest rate increased from 7 to 7.20 percent: Senior Citizen Saving Scheme interest rate increased from 7.6 percent to 8 percent - Interest rates had to be increased under a fixed formula due to increase in income on investment of government bonds - Reserve Bank increased the interest rate by 2.25 percent in six months and post office interest rates increased - Interest payable on National Savings Certificate increased from 6.80 percent to 7 percent Ahmedabad: The Government of India has increased the interest rate for post office term deposits by 1.1 percent (110 paise) and the interest rate of monthly income scheme-monthly income scheme by 40 paise and the interest rate of Kisan Vikas Patra by 20 paise for the period of three months from January to March 2023. Thus, it has been announced today to increase from one point four percent to one point one perc...

In 2022, the rupee fell by 11.3 percent against the dollar due to the aggressive policy of the US Fed Reserve. Rs. The Indian rupee was the worst performing Asian currency with a fall of 8.39, the biggest annual decline since 2013. By the end of the current year i.e. on December 31, 2021, the rupee was trading at 74.33 against the dollar. which broke the highest at the end of 2022 with a close at 82.72. During the year, the rupee hit a record low of 83.27 per dollar in October. While the dollar index was moving steadily along the highest level since 2015. Due to the war between Russia and Ukraine and the crisis in crude oil prices, the rupee weakened as the current account deficit hit a record high in the September quarter. According to currency experts, the stance of the Fed Reserve will further strengthen the dollar. As a result, the rupee will continue to depreciate against the dollar in the first quarter of 2023. Apart from that, there are hopes of increasing foreign investment i...

- Industrial Guidance : Dhiru Parekh Alumina stands for aluminum oxide chemical compound of aluminum and oxygen = chemical formula AI2O3. Aluminum oxide has proven to be an excellent thermal and electrical insulator. This products crystalline form is called 'corundum'. These products are used to harden abrasives as well as components in cutting tools. These products are extensively used for manufacturing of aluminum metal as well as for furnace refectory. Because these products have heat resist property. 'Corundum' is an aluminum oxide obtained from a natural mineral. Which is also used for quality. Metallic aluminum reacts rapidly with ferric oxygen in the atmosphere. The process of these products is called 'anodizing'. The ancient Greeks and Romans used aluminum salts as dyeing mordants (used to set the dye onto the fabric). The main component of industrial process aluminum oxide is bauxite, the principal 'ore' of aluminium. Among the world's ...

The Standing Committee on Finance presented its report in Parliament today and recommended several clarifications and changes in the proposed Competition Amendment Bill, 2022. A standing committee headed by Jayant Sinha has suggested the proposed bill to clarify the manner of calculation of transaction value and allow inclusion of nexus in the settlement process. The Committee also suggested the Competition Commission of India (CCI) and the Director General to introduce an impact-based analysis before detecting anti-competitive conduct. The committee said that if the deal is to be scrutinized, the deal value should be reviewed every year instead of once in two years. The committee noted in its report that the bill does not specify how to calculate the transaction value and what is meant by direct, indirect or retroactive consideration. Agreeing with the views of the stakeholders, the committee said, "These conditions may bring such transactions into the merger control process, ...

- Boolean Bits : Dinesh Parekh - Further, the price of silver is expected to rise faster than gold: Global silver, which is currently $23, may rise to $30 an ounce. Traders' meeting in the world market was followed by a speech by Fed Chairman Jerome Powell. In the month of December, a 50 points increase in the interest rate indicated a bullish trend in gold and a rise in the price of gold by 1 percent has been seen. After rising above 1800 dollars in the world market, the price has remained at 1785 dollars. Traders and investors are sitting on the fence on how much the Fed will raise interest rates next year, depending on Fed Chairman Jerome Powell's speech. Gold prices got a boost on signs that the Fed will slow interest rates and rein in inflation to 5.1 percent in 2023, which could lead to a rally in gold. It should be noted that gold prices generally rise every year during the period from December 15 to January 15. A major correction is likely to come in gold after the...

- Although Iran stopped proforma registration, there was a significant increase in exports to UAE countries against export congestion to Iran. The tea market and industries in the country have recently seen a rapid reversal of trends. Instead of covid and lockdown, now with the speed of reopening, bulk users have returned to the tea market. There has been a boom in the tea market at the global level as well. However, recently, as the indications of corona cases are increasing again in China, this issue has also seen a stir in the global tea market. Meanwhile, tea market insiders have predicted an increase of around 300 to 330 lakh kg in the total export of tea from the country in the current calendar year. The total export of tea from the country in the year 2021 was about 1965 to 1966 lakh kg, the information has shown the possibility of increasing to about 2250 to 2300 lakh kg in this year 2022. The demand of Indian tea from various countries of the world has increased this year. H...

- The changing weather conditions are becoming a major challenge to the agriculture sector of the country While on one hand climate change is affecting the country's agriculture sector and crops are being damaged or production is falling, on the other hand the important Pradhan Mantri Crop Insurance Scheme to provide security to farmers by compensating them is weakening day by day. . Due to high temperature, wheat yield was affected this year, due to which the government was forced to impose regulations on wheat exports. Production of the current year's kharif season is estimated to be moderately low due to uneven rainfall. In the current sugar season of 2022-23, which started from October 1, domestic sugar production is reported to be seven percent lower. Lower sugarcane production is expected to result in lower sugar production. Unfavorable weather has affected sugarcane production in Maharashtra. Thus, when adverse weather conditions are affecting the production of various...

The Vedic city will become like a gift city The proposed Vedic City in Ramnagari Ayodhya will be developed on the lines of Gift City in Gujarat. The project being developed by the Housing Development Council will set standards similar to those of Gift City. The state government is acquiring land in Ayodhya for a green field township project in the name of Vedic City. This proposed residential colony is being built in Shahnawajpur and Manza Barehata village along the Lucknow highway under the New Ayodhya project. Housing Development Board is acquiring 1450 acres of land for Vedic City. A team of officials from the Housing Development Council inspected the Gift City before deciding the format, map and norms for the construction of the Vedic City. After inspection it has been decided to set the norms of Vedic City on the lines of Gift City. Pixel entry in India after Apple Assembling of mobile phones is the focus of Google CEO Sundar Pichai's visit to India. He discussed the manu...

As far as ups and downs are concerned, calendar year 2022 has proved to be the opposite. If the first half of the year was more turbulent, the second half of the year has been softer in this regard. During the first six months of the year, the Sensex rose or fell more than one percent from its previous close in 55 trading sessions. In comparison, this happened in only 22 trading sessions in the second half of the year. Analysts say the improvement in foreign portfolio investor inflows and the market's recovery from June lows this year have eased investor concerns. The year began with volatility due to global factors such as the tightening stance by the US Federal Reserve, the resurgence of Covid-19 in China and Russia's invasion of Ukraine. During the first half of the year, the Sensex saw a volatility of almost one per cent on a daily basis. While during the second half of the year, the Sensex registered only one in five such movements, indicating a reduction in market volat...

Its cover is more expensive than the iPhone What do I want from the iPhone? People have spent millions on the decoration of the iPhone. Now the iPhone has become a luxury rather than a necessity. People use the iPhone more for display than for communication. Millions are spent on iPhone front and back covers. The covers used for phone covers of approximately one and a half lakh rupees are also worth two lakh rupees. Covers made of titanium and aluminum change the look of Apple phones. Such covers for iPhone twelve are available online for $3199. For people who want to keep the phone in a pouch slung over the shoulder instead of holding it in the hand, the 21.5-15 cm size is $750. Its pouch is more expensive than iPhone. Sunken airlines sit again Like the phoenix rising from its ashes happens in some companies but rarely in the case of airlines. Because it costs the same as tying an elephant. When Jalan-Carlock took up the bid to fly Jet Airways in 2020, the venture was dismissed a...

Talk about the market Indore will bring bonds for solar projects Indore Municipal Corporation to issue green municipal bonds worth Rs 244 crore for solar energy projects. This will be the first time that a municipal corporation will borrow money for its projects from individual investors. From the money raised from this bond, captive solar photovoltaic power plants of 60 MW will be set up in Samraj and Ashukhedi villages of Khargone district of Madhya Pradesh. The total cost of this project is around Rs 305 crore but the remaining amount will be raised by the corporation itself. This initiative of Indore is being praised. Instead of depending on the state or central governments, Indore has shown the way that corporations can raise money on their own and provide better services to the people. The businessman reached the temple to worship the helicopter In India, it is our tradition that a common man buys a two-wheeler or a four-wheeler and then goes to a temple and offers pooja. ...

- Ambitious leaders who want to take India's economy to new heights have now started efforts to move forward after coming at number five... - India becoming the fifth largest economy in the world is the biggest economic achievement of 2022. Amid this economic achievement, India is plagued with many problems at the domestic level. - When Apple's assembly plant Foxconn was vandalized in China, Russian news agencies wrote that Apple now wants to withdraw from China. India is steadily moving towards the international economic platform. When India became the fifth economic power in the world, the attention of all the countries of the world was drawn towards India. When India overtook the UK, a kind of economic scrimmage was passed among people connected to the economic system and having an anti-India attitude. No one could have imagined that India would push the UK aside. Ambitious leaders who want to take India's economy to new heights have started trying to overtake Germa...

As far as ups and downs are concerned, calendar year 2022 has proved to be the opposite. If the first half of the year was more turbulent, the second half of the year has been softer in this regard. During the first six months of the year, the Sensex rose or fell more than one percent from its previous close in 55 trading sessions. In comparison, this happened in only 22 trading sessions in the second half of the year. Analysts say the improvement in foreign portfolio investor inflows and the market's recovery from June lows this year have eased investor concerns. The year began with volatility due to global factors such as the tightening stance by the US Federal Reserve, the resurgence of Covid-19 in China and Russia's invasion of Ukraine. During the first half of the year, the Sensex saw a volatility of almost one per cent on a daily basis. While during the second half of the year, the Sensex registered only one in five such movements, indicating a reduction in market volat...

- Although Iran stopped proforma registration, there was a significant increase in exports to UAE countries against export congestion to Iran. The tea market and industries in the country have recently seen a rapid reversal of trends. Instead of covid and lockdown, now with the speed of reopening, bulk users have returned to the tea market. There has been a boom in the tea market at the global level as well. However, recently, as the indications of corona cases are increasing again in China, this issue has also seen a stir in the global tea market. Meanwhile, tea market insiders have predicted an increase of around 300 to 330 lakh kg in the total export of tea from the country in the current calendar year. The total export of tea from the country in the year 2021 was about 1965 to 1966 lakh kg, the information has shown the possibility of increasing to about 2250 to 2300 lakh kg in this year 2022. The demand of Indian tea from various countries of the world has increased this year. H...

The Standing Committee on Finance presented its report in Parliament today and recommended several clarifications and changes in the proposed Competition Amendment Bill, 2022. A standing committee headed by Jayant Sinha has suggested the proposed bill to clarify the manner of calculation of transaction value and allow inclusion of nexus in the settlement process. The Committee also suggested the Competition Commission of India (CCI) and the Director General to introduce an impact-based analysis before detecting anti-competitive conduct. The committee said that if the deal is to be scrutinized, the deal value should be reviewed every year instead of once in two years. The committee noted in its report that the bill does not specify how to calculate the transaction value and what is meant by direct, indirect or retroactive consideration. Agreeing with the views of the stakeholders, the committee said, "These conditions may bring such transactions into the merger control process, ...

- Antenna : Vivek Mehta - If the tax payer of Ahmedabad goes to Allahabad for return assessment, the officials there are ready to set up a network and settle corruption cases. Income Tax Assessing Officers, Advocates and Chartered Accountants working as tax consultants across India have colluded to create a system that renders the process of faceless assessment meaningless. Even in faceless assessment, Orissa authorities are contacting the tax payers of Ahmedabad and making the local assessing officers an intermediary to understand their income tax returns. Syndicates of Local Assessing Officers and Local Advocates are also reported to have been formed. Thus, while the government is moving in leaps and bounds, the income tax officers, advocates and chartered accountants are advancing step by step and making the faceless assessment system of the government ineffective. The taxpayers of Ahmedabad have been getting calls like this from outside the village. As a result, the government...

- Commodity Current : Jayavadan Gandhi In the year 2022, there have been huge ups and downs in the commodity market, especially in the agri sector. Cotton, guar seed-gum and spices have been in turmoil throughout the year. About 68 percent positive return has been found in spices, especially cumin. While 16 percent in turmeric and one and a half percent negative return has been found in coriander. Cotton and guar have also seen an average bullish trend. As the year 2022 is counting days to its completion, cumin prices are currently hitting record highs with red cholo booming. Heavy support for the bull has been at the end of the year as the demand for cumin improves as the lockdown in China is lifted. The production of cumin and turmeric is expected to decrease in the year 2023. While the production of items like coriander, cotton, rayado is expected to be high. During the year 2022, more than 400 crores of spices have been exported. This year, the export of spices to many countries ...

- Boolean Bits : Dinesh Parekh - Further, the price of silver is expected to rise faster than gold: Global silver, which is currently $23, may rise to $30 an ounce. Traders' meeting in the world market was followed by a speech by Fed Chairman Jerome Powell. In the month of December, a 50 points increase in the interest rate indicated a bullish trend in gold and a rise in the price of gold by 1 percent has been seen. After rising above 1800 dollars in the world market, the price has remained at 1785 dollars. Traders and investors are sitting on the fence on how much the Fed will raise interest rates next year, depending on Fed Chairman Jerome Powell's speech. Gold prices got a boost on signs that the Fed will slow interest rates and rein in inflation to 5.1 percent in 2023, which could lead to a rally in gold. It should be noted that gold prices generally rise every year during the period from December 15 to January 15. A major correction is likely to come in gold after the...

- The changing weather conditions are becoming a major challenge to the agriculture sector of the country While on one hand climate change is affecting the country's agriculture sector and crops are being damaged or production is falling, on the other hand the important Pradhan Mantri Crop Insurance Scheme to provide security to farmers by compensating them is weakening day by day. . Due to high temperature, wheat yield was affected this year, due to which the government was forced to impose regulations on wheat exports. Production of the current year's kharif season is estimated to be moderately low due to uneven rainfall. In the current sugar season of 2022-23, which started from October 1, domestic sugar production is reported to be seven percent lower. Lower sugarcane production is expected to result in lower sugar production. Unfavorable weather has affected sugarcane production in Maharashtra. Thus, when adverse weather conditions are affecting the production of various...

- Industrial Guidance : Dhiru Parekh Alumina stands for aluminum oxide chemical compound of aluminum and oxygen = chemical formula AI2O3. Aluminum oxide has proven to be an excellent thermal and electrical insulator. This products crystalline form is called 'corundum'. These products are used to harden abrasives as well as components in cutting tools. These products are extensively used for manufacturing of aluminum metal as well as for furnace refectory. Because these products have heat resist property. 'Corundum' is an aluminum oxide obtained from a natural mineral. Which is also used for quality. Metallic aluminum reacts rapidly with ferric oxygen in the atmosphere. The process of these products is called 'anodizing'. The ancient Greeks and Romans used aluminum salts as dyeing mordants (used to set the dye onto the fabric). The main component of industrial process aluminum oxide is bauxite, the principal 'ore' of aluminium. Among the world's ...

- There are many confusions in front of the customer as they have a system of cash transactions that has been going on for years - A radical change is coming in the economic practices of the country. Digital currency is this grand project of Modi government. There is a poll among economic experts - RBI says your money is not going anywhere. It has to be converted into digital form. It will also have loose notes but it will be in digital form i.e. administration can be done from mobile.... - Use today and pay tomorrow schemes are being implemented where people used to say borrowing is off. Cryptocurrencies that use the blockchain system are also being used in e-currency A radical change is coming in the economic practices of the country. Digital currency is this grand project of Modi government. There is a poll among economic experts. Government has answers to every issue but people are afraid that what will be the transaction without money? People have accepted the changes in var...

- Chart Indication : Ashok Trivedi The BSE index (close 61337.81 on 16-12-22) is soft from a top of 63583.06. Currently, the 12 day average is 62345.32, the 48 day average is 61170.35 and the 200 day average is 58343.14. Daily MACD is bearish. The weekly MACD is bullish. Shows neutral on daily basis, overbought to neutral on weekly basis and overbought position on monthly basis. Above 61893 above 62190 resistance level is considered. A low of 61292 to 61260, 60790, 60330 is possible. ABB (closing price Rs.2838.50 on 16-12-22) is bearish from the top of 3292. Currently 12 day average is 2991.32 and 48 day is 3046.67 as well as 200 day is 2730.00 daily and weekly MACD is bearish. Oversold on daily and weekly basis as well as overbought to neutral position on monthly basis. Above 2940 above 3015 resistance level is considered. 2825 down to 2783, 7230, 2650 possible. Bank of India (closing price Rs.91.05 on 16-12-22) is bearish from a top of 103.50. Currently, the 12-day average is 92....

- Sales Tax : Soham Mashruwala Not all tax credits are recoverable under the GST law. As the law is amended in the matter of tax credit, suffering tax credit is like chewing iron gram. Under Section 16 of the GST Act, a substantial provision has been made and Rule 36 has been framed accordingly. It is further provided that the recipient cannot avail the tax credit unless the correct details are shown in the supplier's GSTR 1 which results in the details appearing in the recipient's GSTR2B. Today's article discusses such an unfair provision regarding tax credits. Situation before 1.10.2019 When the GST law came in, it was suggested to fill the form that until the information of GSTR 2 filled by the supplier is obtained with the information of GSTR1, the recipient will not be able to take his tax credit in the GSTR3 form. Because of this, there was no provision in Section 16 that tax would not be payable unless the transaction was shown in the books. GSTR2A was informatio...

- Confusion of economics: Dhawal Mehta - The savior or liberator thinking has ended from the world Even though wars of ideology were going on for about 25 years before and after India's independence, there does not seem to have been a single emancipatory thought, emancipatory leader or emancipatory class in India as well as in the world. When the Communist Revolution took place in Russia in 1917, many people believed that a Communist Party and a Communist nation had emerged that would implement a classless society in the world. Even China, the world's most populous country, saw the rise of a communist government under Mao's leadership after the end of World War II, but failed miserably to create a classless, exploitation-free society. The reverse happened. The shackles of the workers were not broken (remember Marx promised that if you bring about a communist revolution, 'you have nothing to loose but your chains') the theory of communism and the transformation of...

- Smile Index : Vanity - He can be assigned jobs like loan advisor for banks, fund manager for government projects and hero of his own biopic in Bollywood. Brain drain is a huge problem in India. A lot of brilliant geniuses go abroad to pursue careers, but now there is a lucky coincidence that India's own brain Nirav Modi can come back to India with a welcome coin from the UK. Some prison authorities are already enthusiastic about making Nirav Modi's historic comeback to India. He hopes that after spending a few days in the cell, Nirav Modi will guide him on who to bottle and why to get money for the renovation of the jail. However, it is not right for a talent like Nirav to sit in jail. If such talented people are in jail, nothing will happen more than heroines like Jacqueline Fernandez can get some gifts. Instead Nirav's talent should be utilized at the national level. By keeping Nirav in jail, if he has ponds or gardening, his earnings will not even cover the bank...