Market and Business News

There is good news for Jet Airways. Jet Airways has been issued an Airport Operator Certificate (AOC) by aviation regulator DGCA. Once this certificate is received, the way is open for airlines to start their airlines again in India. Congratulations from the airlines Expressing happiness over this, the Jalan-Kalrok Consortium, which is working to restart Jet Airways, said it shows the Indian aviation regulator's confidence in us to restart Jet Airways. With this, a press release issued by the Jalan-Kalrok Consortium said, "We thank the DGCA and all stakeholders who have placed their trust in the Jalan-Kalrok Consortium to relaunch Jet Airways." The Jalan-Kalrok consortium will succeed Jet Airways He added that the Jalan-Kalrok consortium is fully committed to the revival of Jet Airways. To this end, the Jalan-Kalrok Consortium will work together with all authorities, industries and stakeholders to develop strategies to make the airline a success. The last flight ope...

Today is the last day of July With the start of August tomorrow, many rules related to the financial world are about to change. These rules include rules related to GST and credit card payments apart from ITR returns. With the change in these rules, there will be a direct impact on your pocket. From August 1, 2023, various changes related to the GST payment system will come into effect, as well as changes in the prices of LPG, PNG and commercial gas. GST rules will change As per the government announcement, from August 1, 2023, businessmen with a turnover of more than Rs 5 crore will have to issue electronic invoices. In such a situation, traders falling under the ambit of GST need to prepare electronic invoices after knowing the relevant rules in detail. Today is the last date to file income tax returns Today i.e. July 31 is the last date for filing income tax return, so people who file ITR from August 1 will have to pay penalty. If people with income above Rs 5 lakh do not file ...

image : Pixabay According to available figures from the Ministry of Corporate Affairs, over 96,000 companies have voluntarily closed operations in the last five years. These companies opted for this type of winding up for various reasons including lack of financial arrangements. The government statistics are shocking Government statistics show that 96,000 companies across the country voluntarily ceased operations in the last five years. According to the Ministry of Corporate Affairs, these companies stopped operations due to various reasons including financial crisis. According to ministry statistics, final resolution orders were passed by the National Company Law Tribunal (NCLT) in 510 cases under a section of the Insolvency and Bankruptcy Code (IBC) during this period alone. How many cases are currently pending? Currently as per March 2023 figures there are 520 cases pending under section 59 of IBC related to voluntary closure of operations. According to the information provide...

Today is the last date to file income tax. A belated return can be filed with penalty under section 234F for non-filing of return within the prescribed time limit for any assessment year under section 139(1) of the Income Tax Act. If the total income of the income tax payer is not more than 5 lakhs then he has to pay a penalty of 1000 rupees. If the income is more than 5 lakhs then there will be a penalty of 5,000 rupees. If the income is less than the exemption limit (2.50 lakhs), there will be no penalty. 📢 Kind Attention 📢 A new milestone! More than 6 crore ITRs have been filed so far (30th July), out of which about 26.76 lakh ITRs have been filed today till 6.30 pm! We have witnessed more than 1.30 crore successful logins on the e-filing portal till 6.30 pm, today. To… pic.twitter.com/VFkgYezpDH — Income Tax India (@IncomeTaxIndia) July 30, 2023 Interest will also have to be paid along with the penalty More than 6 crore returns have been filed till 30 July 2023. 26.76 l...

In the six years since the implementation of the Goods and Services Tax (GST), the government has so far caught 5,070 fraud cases in which people have misused PAN and Aadhaar details to claim Input Tax Credit (ITC). In these 5,000 cases, GST evasion of Rs 27,426 crore has been uncovered. Recovery figures negligible, most cases of fraud here However, the important thing is that the recovery figure in the last 6 years is only 922 crore rupees. These figures are between July 1, 2017 (inception of GST regime) and June 30, 2023. If we compare the states, Maharashtra, Delhi and Tamil Nadu are among the top three states in cases of misuse of GST registration. Here respectively 765, 713 and 632 cases of GST evasion have come up. How much GST was stolen and how much was recovered? GST evasion of Rs 3,889 crore was caught in Maharashtra. However, only 171 crore rupees have been recovered from it. GST evasion of Rs 4,326 crore was caught in Delhi. However, the recovery was only Rs 159 crore....

India's economy is progressing day by day to achieve the five trillion economic target. India's economy has become the fifth largest economy in the world. A recent study has also revealed that India's per capita income will increase by 70 percent to reach $4,000 by FY2030, which is $2,450 per capita in FY2023. Due to this, the GDP of India will also get a big boost and it will reach around 6 trillion dollars. Over half of India's GDP will come from domestic consumption during this period. Rapid growth in India's per capita income India's per capita income has grown rapidly over the past 20 years. It was $460 in 2001, which increased to $1,413 in 2011 and $2,150 in 2021. Growth of Indian economy based on exports In a report presented by Standard Chartered Bank, India's exports will rapidly boost the country's economy in the coming years. It is projected to grow from $1.2 trillion in fiscal year 2022-23 to $2.1 trillion by 2030. While the size of Indi...

- The Conundrum of Economics - Dhawal Mehta - Two-thirds of India's total population still lives in villages Fr. W. 2005 and Fr. W. In the twenty year period of 2019, India has dramatically reduced the number of people living in poverty. It should be remembered that for this reason, the performance of both governments in the ten years of Congress from 2005 to 2014 and the five years of BJP from 2015 to 2019 has been excellent in the field of economy. During the tenure of both the governments, India's average economic growth rate has been above five percent which can be said to be much higher than America and other European countries. However, our growth rate of over five percent is due to our small GDP base. E.g. If your income is 20,000 per month, if you get an increment of ten percent of it, the amount will be Rs. 2,000, but if a laborer's salary is only Rs. 8,000 and he gets an increment of 15%, his income will increase only by Rs. 1,200, while your income has increas...

Mumbai: The cycle of interest rate hikes by global central banks continues in the US. The Federal Reserve hiked interest rates by 0.25 percent, taking interest rates to a 22-year high, while the European Central Bank (ECB) also left interest rates at a 23-year high of 3.75 percent, signaling that inflation remains a threat to the global economy. Funds in global equity markets remained cautious till mid-week. Interest rates at this level have now peaked with global analysts predicting a temporary bullishness last week. But in developed nations with inflation worries, the Bank of Japan loosened its grip on markets, sending bond yields to nine-year highs, eroding volatility in the Japanese currency, the yen, a storm of global currency volatility against the dollar, and U.S. inflation data after U.S. Treasuries. Global stock markets rallied over the weekend amid factors including a fall in yields. On the other hand, weakness in Indian stock markets on four out of the five trading days of ...

- 16% people took personal loans from January to March 2023. Which increased to 27 percent during April to June Many Indians, especially those from small towns, take personal loans to renovate their homes or to go on vacations or travel. In fact, these types of loans are usually taken for important things like medical emergencies or your children's education, but in the first half of 2023 (January to June), at least 21% of people took personal loans for travel. In the first three months of 2023 (January to March), 16% took a personal loan for holidays. But in the next three months (April to June), this number rose to 27%, a survey found. Between April and June, there was a big increase in the number of people taking out loans for overseas holidays compared to the previous three months. In the last 6 months, 73% of everyone who took a personal loan for a holiday used it for a holiday in the country and 27% used it for a trip abroad. After people who took out vacation loans, among...

- Smile Index - Vanity - He will become a minister with a canteen who takes the previous day's rice and catches it for breakfast the next day In the cabinet meeting, instead of hot samosas, the ministers forgot the agenda and discussed about this. A junior minister says, 'Just as we cheat the people by giving new names to the old schemes of the previous governments, today our canteens have grabbed us as a fresh item by throwing yesterday's increased rice. ' Another minister says, 'Keep your mouth shut and speak. If our high command comes to know, they will make the canteen man a minister and hand over the canteen to people like us.' The third minister frowned. 'Then come on. We need ministers to eat themselves. Not to feed. ' A senior minister entered there. 'Look, brothers, you got this fried rice for breakfast today because of the whole game of eating. ' 'Hey? Rice tender for government canteen came at 400 percent higher price?' ...

- Lokabhimukha Guidance - H.S. Patel IAS (Retd.) - Long-term planning and implementation of rainwater drainage in urban areas is necessary Taking into account the extraordinary rainfall in the current monsoon and the changes in the seasonal cycle, a series of articles have been analyzed in the form of analysis of stormwater drainage issues, drawing up long-term and short-term plans. All the news media or even the public at large have told to solve the situation that has arisen in urban areas regarding the problem of rainwater drainage, and the city specific issues are covered in this article. Till date, issues related to cities like water, roads, sewerage, housing, dirty habitats, slums etc. are presented by the citizens and if seen from the legal and institutional point of view, GPMC is the Governing Act for Municipal Corporations. Act (Gujarat Provincial Municipal Corporation Act) and Municipalities Act is applicable for municipalities. Mandatory and voluntary duties have been sta...

- Commodity Current - Jayavadan Gandhi During the monsoon season, the north-western regions of the country are blessed with heavy rains. While in most of the East-South areas, the effect of expected rains is likely to affect Kharif sowing. Groundnut in Gujarat and cereal crop in Punjab-Haryana and turmeric crop in Maharashtra are reported to have suffered significant damage. The influence of monsoon is likely to reduce in August. Cultivation of cereals, telebia, pulses is relatively expected. However, in the kharif season, there is a decline in the sowing of Tuvar, an important pulse. Cultivation has been disrupted in Karnataka, Maharashtra and Gujarat, the main producers of Tuvar. An average decrease of ten percent is seen. Fears of dwindling production of pulses may push up prices in the upcoming festive season. Inflation in grains wheat and rice is still unbridled. A ban on rice exports has pushed global market prices to a record-breaking 10-year high. With a rise of 50 to 100 do...

- Sales Tax- Soham Mashruwala There are many controversies regarding interest under GST law. A noble circular has been issued by the government regarding whether interest is payable in case of false tax credit of IGST claimed. Dt. On 17-7-2023 serial no. 192/04/2023- GST which is discussed in this article today. Tax usage To offset the IGST liability, IGST has to be used first followed by CGST and SGST. Even in cases where the IGST tax credit is higher, the supplier has to consume the IGST first. And then comes the turn to use tax credit of CGST and SGST. When is tax credit considered misused? Section 50 provides for use of false tax credit under sub-section (3). How to calculate interest is mentioned in rule 88 (b). The period for computing interest under section 50(3) shall be payable for the period from the date on which such misused tax credit has been misused to the date on which such misused tax credit has been reversed or the tax has been paid. According to this rule, it f...

- Antenna - Vivek Mehta - Dilapidated condition of dyes intermediates industry, which contributes more than 25 percent to exports: 6 lakh people employed in manufacturing units at risk There has been a demand for speedy commissioning of the approved project of a pipeline to discharge polluted water from Ahmedabad's dye and dyes intermediates into the sea. Fears have also been expressed that delaying the matter or planning to relocate industries will sound the death knell of the dye-dyes intermediates industry. As many as 3,000 small units of dyes and dyes intermediates have also been requested not to shift them to another location considering the huge cost incurred behind the CETP-Common Effluent Treatment Plant to treat and discharge the contaminated water. If shifted from Ahmedabad to another place, the dye and dyes intermediates industry providing direct employment to four lakh people and indirect employment to two lakh people will be lost. Thus, in the period from 2018 to ...

The BSE index (close 66160.20 on 28-07-23) is soft from a top of 67619.17. Currently, the 12-day average is 66310.00, the 48-day average is 64446.58, and the 200-day average is 61386.77. Daily MACD is bearish. Weekly MACD is bullish. Shows oversold position on daily basis, overbought position on weekly as well as monthly basis. The days of turning 3 to 8 gain are counted. Above 66351, 66430, 66730, 67030 are resistance levels. 65878 down to 65830, 65530, 65230, 64940, 64670 likely. BHEL (closing price Rs.103.10 on 28-07-23) is bullish from the bottom of 67.60. Currently 12 day average is 96.71 and 48 day is 89.33 as well as 200 day is 78.12 daily and weekly MACD is in favor of correction. Shows overbought positions on daily, weekly as well as monthly basis. If above 104 rises to 113.60, there is a possibility of up to 121. 97 below 99 is considered support. Aibul Housing Finance (closing price Rs.136.05 on 28-07-23) is bullish from the bottom of 91.80. Currently 12 day average is 12...

- Industrial guidance - Dhiru Parekh - Bisphenol-A is a key ingredient for polymers. Bisphenol-A is used in the manufacturing of epoxy phenoxy, polycarbonate, polysulfan, polyester resin, flame retardant, rubber chemical and fungicide products. - Property :- White flakes, phenolic order, in soluble in water, soluble in carbon tetrachloride, boiling point 2200 C. Grade, melting point 1530 cm. Grade, esp. Gravity 1-195, (250 C grade, flash point 1750 F. (74.5 C grade). - Derivation :- Phenol and acetone are treated with catalyzed SCL at 650 C. Bisphenol-A is obtained by a condensation reaction at room temperature. - Specification :- Freezing Point 156.8, Free Phenol-ppm. 10-0, isomer-ppm. 50-100, Aryan-ppm.01. A major market for bisphenol-A is for polycarbonate resins. Almost two-thirds of the demand is increasing. Polycarbonate is in increasing demand for optical media such as compact discs (CDs), CD-ROMs recordable CDs and digital discs (DVDs). For optical media such as MP3 play...

A total turnover of Rs.4,14,765.75 crore was recorded in 46,00,710 trades during the week of July 21 to 27 in various commodity futures, options and index futures on the country's leading commodity derivatives exchange, with commodity futures accounting for Rs.95, 051.74 crore and the share of options was Rs.319487.57 crore. Bullion options recorded an all-time high notional turnover of Rs.33,389 crore on Wednesday during the week under review. Along with this, gold options contracts saw the highest transactions of 52.2 tonnes worth Rs 30,940 crore and gold-mini options contracts worth 2.5 tonnes worth Rs 1,460 crore. During the week, precious metals futures in gold and silver accounted for 8,21,507 deals worth Rs 60,335.31 crore. Among gold futures, gold August futures opened at Rs.59,543 per 10 grams at the start of the week, touched an intra-day high of Rs.59,680 and a low of Rs.58,740 during the week, ending the week down by Rs.602 to Rs.58,950. had arrived Against this, th...

Talk about the market A social media post by Australia's Greg Ross has caused a stir. At the age of 60, Ross left his job as CEO of a theater company to start a new life as a truck driver and has been doing this for the past 12 years. Ross claims that after working a white-collar job all his life, at the age of 60, he felt tired of doing the same type of work. There was no challenge in life so I decided to quit my job. Meanwhile, he came to know that he has thyroid cancer, so he decided to do something different in life. I thought about this a lot and finally decided to become a truck driver. He learned about driving by joining a truck company and has been driving trucks for the past 12 years. Dhoni has 70 bikes, Prasad is stunned Mahendra Singh Dhoni's bike love is known and a video of it has been uploaded by former fast bowler Venkatesh Prasad. Venkatesh Prasad, who was stunned to see Dhoni's bike collection, commented that this looks like a bike showroom. Prasad has...

- 50 percent government support: Made in India is coming cheap: India on the path to becoming self-reliant: $10 billion PLI scheme for semiconductor sector - Minister of State for Electronics and Information Technology Rajeev Chandrasekhar has said that the $10 billion PLI scheme for the semiconductor sector will provide a new current in the Indian economy. - If we look at the history, in 1957, Intel brought an offer for a packaging unit in India, if it had been approved, today India would have become the largest package hub in Asia. *India will lead the fourth industrial revolution *India will become third developed country in the world *Made in India chip will be seen shortly. Looking at the above three points, it can be said that India is indeed attracting the attention of the world. Investors of the world are trusting India India is taking up the challenge of doing in ten years what China could not do in 30 years in the field of semiconductors. India's whole semiconduct...

Japan is used to doing something new. Countries around the world have been following suit. Japan Airlines has recently shown the concept of traveling with less luggage. Japan Airlines says that you can only return from Lhera if you have enough baggage. Japan Air Lines has come up with the idea that you can use the clothes you rent and return them. Pay its fare and move from Lher. That is, rent clothes suitable for the place you want to go and use them and return them. Customer can use it for two weeks. So if there are no clothes in the travel bag, it will work. This arrangement will be made by the airlines. This concept is called “Any Wear, Anywhere” service. The main reason behind this idea is to reduce carbon dioxide emissions. - 2,80,000 5G radios in India There are about 2,80,000 5G radios in India. In which Maharashtra is at the forefront. It is followed by Uttar Pradesh, Tamil Nadu, Karnataka, Gujarat and West Bengal. 4G and 5G have a global market. According to the report sub...

- The focus on welfare programs also increased during the recently concluded assembly elections The national debate in the last few weeks has largely focused on how political forces are eyeing the 2024 Lok Sabha elections. While the viability of alliances and their chances of winning are still emerging, it is worth discussing what a potentially close contest would mean for economic management. It is too early to draw definite conclusions, but some clues can be gleaned from the recently concluded assembly elections and the upcoming assembly elections. Meanwhile, the focus on welfare programs has increased. For example, in Karnataka, the Congress made several promises, including the promise of free bus services for women. These promises proved effective. Elections are to be held in Rajasthan in December, the Congress government there has taken a new initiative in this direction. The Ashok Gehlot government last week passed the Minimum Income Guarantee Bill after several announcements i...

Mumbai: Bullion market was officially closed today due to Saturday in Mumbai jewelry market. However, the price of gold and silver rose in the closed market. Market sources said that after the rapid fall in the prices of gold and silver on Friday, the prices have risen again after digesting the shock. World market news was showing support at the lower end. Gold prices in the world market reached a high of 1957 to 1958 from 1963 to 1964 and last weekend prices from 1959 to 1960 dollars per ounce. Global silver prices were last guided by $24.41 to $24.42 to $24.34 to $24.35 an ounce in a high of $24.31 to $24.32 an ounce. In the Ahmedabad market today, the price of gold rose by Rs.200 per 10 grams to Rs.61,300 at 99.50 and Rs.61,500 at 99.90 while Ahmedabad silver prices continued to hit the top of Rs.74,500 per kg. In the world market, the price of platinum rose from 937 to 938 per ounce and from 944 to 945 per ounce, the last price was 938 to 939 dollars, while the price of palladiu...

Mumbai: Kharif sowing has progressed at a slow pace in the week of July 28 amid heavy rains in most states of the country. The total sown area has been 8.30 crore hectares which is almost the same as this period last year. Kharif crops are grown on an area of ​​approximately 10 crore hectares in the country. At the end of the week of July 28, paddy cultivation was 2.37 crore hectares which is 1.84 percent more than the same period last year. After good rains in July, there is a possibility of a break after the first week of August. An impact on kharif crop production due to El Nino impact cannot be ruled out, sources in the agriculture ministry said. Most of the models are indicating low rainfall in August, in which case the planting done in June-July may be affected. In the cultivation of pulses, the cultivated area of ​​Tuvar is still 16 percent less. A decrease of 14 percent and 7.07 percent is observed in sowing of urad and gram respectively. Declining production of pulses coul...

Mumbai: After the Indian government recently banned the export of rice, now there is news that the export of rice bran has also been banned till November 2023. According to The Solvent Extractors Association of India, after years of hard work, the exporters of India have created an export market for India's rice bran in the world market, and now the government has suddenly stopped such exports, and the years of hard work of the exporters have been reversed. In the Mumbai oil-seed market today, the prices of Singoil rose again after digesting the shock. Cottonseed oil was also firm. However, prices of imported edible oils remained soft behind the global market. In the overnight trade in American agricultural markets, the price of soy oil fell by 100 to 105 points. Soybean prices fell by 450 to 455 points while soybean prices were tipped to fall by 90 to 95 points overnight. World market experts were showing the possibility of the palm oil markets in Malaysia opening lower on Mond...

New Delhi: Gold-silver foil gives sweets a luxurious look, saffron enhances its taste. Sweets with silver foil are attractive in appearance, but when it comes to price, they are nowhere to be compared to saffron. People often think that gold and silver cost more than all other things, but when you hear the price of Kashmiri saffron, you will think ten times before buying it. The gold-silver sheen will pale against the saffron color. The price of gold foil is 59000 rupees per 10 grams. However, silver and saffron are used more than gold. While Kashmiri saffron is being sold up to 4 lakh 95 thousand rupees per kg. There is a huge demand for this saffron in America, Canada, Britain. The price of saffron has risen by more than 40 percent in the last one year. The effect of increase in demand is being seen on its price. Kashmiri saffron has got a GI tag. It is the only saffron in the world with a GI tag. Kashmiri saffron is in huge demand in countries across the world. Farmers cultivati...

Ahmedabad: Rising interest expenses have become the biggest challenge for companies' earnings. Profits of Indian industry are falling due to sharp increase in interest expenses in the June quarter despite lower raw material and fuel prices. Excluding banks, finance and insurance and IT companies, the total interest expense of 271 listed companies in the April-June 2023 quarter has increased by 36.2 percent over the April-June quarter of last year. This is the highest increase in interest expense in the last three years. In contrast, raw material and fuel costs for companies have come down sharply during the quarter. In these three months, the price of raw materials and fuel has increased by only 2.3 percent, while in the first quarter of FY2023 it increased by 56.1 percent. In comparison, the total net sales of these companies increased by only 5.9 percent in the first quarter, compared to 38.6 percent in the first quarter of 2023 and 7.8 percent in the fourth quarter. The 271 c...

- Lack of effective action despite numerous channels of communication - What is happening in Manipur is the beginning of the struggle for racial rights - Irrespective of the political party, MLAs here are more identified with their community - As a result of this impasse, the Parliament is in a deadlock and the people of the country are frustrated - Opinion - P. Chidambaram Government of India is sitting as a silent spectator while Manipur is burning. There is a BJP government at the center and in Manipur. There are many channels of communication within the party. From the governor to the intelligence bureau to social organizations and even the media, there are channels of communication. Cleansing of the community What is happening in Manipur is not a temporary conflict, there is no opportunistic crime or looting of grains, what is happening here is the beginning of a struggle for caste rights. Efforts are underway to exterminate members of undesirable ethnic groups. Manipur i...

- Bhoo Bazar : Dilip Shah - Brent crude prices rose to a high of 84 dollars per barrel: Russia is in the mood to reduce the discount! In the global market, trends in various markets in the energy sector have seen rapid reversals recently. Global markets of crude oil, gas, coal have witnessed rapid changes in the short term. This year, global crude oil prices fell sharply in late March after remaining high through January, February and mid-March. Although after that the prices rose again in the month of April, but after the price remained under pressure in the months of May and June, now in the month of July, the market has witnessed a new rise and when the price crossed the important resistance level, the indications from the world market were that the market has entered a new zone. is Looking at Brent crude prices for the last fifty-two weeks, the lowest prices were recorded from 71.80 to 71.85 dollars per barrel, while the highest prices were also seen up to 110 dollars. Looking a...

- With the destruction of old modes of employment, scope for new ones to emerge Recruitment of freshers in three of the top four information technology (IT) companies in the country has seen a three-year low in the current financial year. After 3.90 lakh in FY 2022, 2.80 lakh in FY 2023, the number of freshers recruitment is expected to be 1.55 lakh in the current financial year. Larger firms are seeing more cutbacks in recruitment compared to mid-sized and small-sized IT firms. The reasons behind the decline in workforce recruitment include the onslaught of artificial intelligence (AI) in addition to the proposed recession in the US-Europe. India is witnessing a decline in new hires, but in the US, there are reports that technology companies have laid off more than one and a half lakh people by the second week of July this year. In 2022, this figure was slightly over 90,000. Due to the work from home system during the Corona period, there was a huge demand for employees in IT compan...