Market and Business News

Mumbai: The Center for Monitoring Indian Economy (CMIE) has predicted that retail inflation in the country, which is 5.40 percent in the current financial year, will come down to 4.30 percent in the next financial year i.e. 2024-25. The Reserve Bank has estimated inflation at 4.50 percent for the next financial year. Inflation stood at a nine-year high of 6.70 percent in FY 2022-23. Inflation fell to 5.10 percent in January from 5.70 percent in December 2023. Low food inflation without disrupting the supply of vegetables like tomato, potato and onion is important. Food and beverages inflation is expected to decline significantly to 3.40 percent in the next financial year as compared to 7.10 percent in the current financial year. In financial year 2022-23, this rate was 6.70 percent. Inflation of clothing and footwear is also expected to remain low. However, in terms of accommodation, the trend is being reversed. Housing inflation in the next financial year will be 4.50 percent wh...

Mumbai: Earlier in the week, Bitcoin crossed the $65,000 level and came close to the all-time high achieved in November, 2021. The price of Bitcoin hit a two-year high on Monday. Bitcoin has been bullish as investors remain confident that the price will rise further. Market circles are suggesting that Bitcoin is on its way to close to the $69,000 level given the continued buying by institutional investors and the upcoming April supply cut. After the Bitcoin spot ETF, the market sentiment was boosted by reports that Ethereum ETFs, other major cryptos, are likely to get approval. Net inflows into the ten largest spot bitcoin ETFs in the US have been $2.17 billion. In the first two months of the current year alone, Bitcoin has surged more than fifty percent. The launch of Bitcoin ETFs has opened up a new avenue for investors to invest in this risky asset. The overall market cap of cryptocurrencies rose to $2.38 trillion as a result of the surge in other cryptos including Bitcoin. In...

Mumbai: India has allowed limited exports of non-basmati white rice and onions to meet the food safety demands of some countries. According to the notification issued by the Directorate General of Foreign Trade (DGFT), 30,000 tonnes of non-basmati white rice export has been allowed to Tanzania while 64,400 tonnes of onion will be shipped to UAE and Bangladesh. National Cooperative Exports Ltd. This will be exported through To increase domestic supply, the government has banned the export of non-basmati white rice since July 20 last year. The government has also allowed 80,000 tonnes of broken rice to be exported to Djibouti and Guyana Bissau. These countries are located in Africa region. The government has allowed the export of 64400 tonnes of onion to UAE and Bangladesh. 50,000 tons of onion will be sent to Bangladesh while 14,400 tons will be sent to UAE. Since December 8 of last year, the government has banned the export of onions. But onions are exported to friendly countries...

AHMEDABAD: Gold reached a record high of Rs 65,600 at the Ahmedabad gold and silver market today. However, a gap of Rs 1,000 was recorded in silver today. Ahmedabad gold 99.50 rose by Rs 300 to 65,400 and 99.90 gold reached the highest level of 65,600 today, following the rise in global markets. However, today, silver broke 1,000 rupees and was placed at the level of 71,000. Gold prices were soft at the higher end in the Mumbai jewelery market today. While silver prices continued to rise. Gold prices in the world market today were indicated to be 2082 to 2083 dollars per ounce. The global silver prices were also 23.12 to 23.13 per ounce at a high of 23.19 and at a low of 23.02 to 23.11 to 23.12 dollars. In the global market, copper prices rose by 0.23 percent today, while platinum prices were at a high of 899 at 896 and a low of 884 at 889 to 890 dollars. While the price of palladium was 959 to 974 in high and 954 in low to 955 to 956 dollars per ounce. Crude oil prices in the worl...

Ready to burst bullish bubble in SME stocks as a sign of SEBI tightening? MUMBAI: Sensex, Nifty based markets continued to create new record highs today with banking-finance frontline stocks hitting new record highs along with oil-gas stocks. But with the risk of overvaluation rising and the start of March and the recent push by mutual funds regulator SEBI to provide investors with more information on risks in the case of small cap funds and now a sign that SEBI is gearing up to get tougher to curb unbridled speculation in SME stocks, many SMEs, small caps Stocks were hit by heavy selling by players, operators and funds. Funds booked profits in IT-software services, technology stocks along with automobiles, consumer durables, healthcare stocks. The Sensex today traded in the range of 73990 to 73474 and finally rose 66.14 points to close at a new high of 73872.29. While the Nifty 50 spot index created a new record high of 22440.90, it closed at a new record high of 22405.60 after incr...

Image Envato Income Tax Savings Scheme: The month of March has come and everyone is planning to save tax. If you are employed and want to save tax, be alert now. If you have not planned tax saving till now, your salary will be deducted in the month of March. You need to invest early to save tax. You can save tax by investing in some mutual funds with government schemes. For example, you can save tax by investing in some schemes like National Pension System, Sukanya Samriddhi Yojana, PPF. National Pension Scheme You can save tax under National Pension Scheme. In which you get tax relief under Section 80C. In this you get tax relief on income up to 1.5 lakhs. Apart from this you can invest a maximum of 50000 rupees under section 80CCD(1D) you can invest. Besides it has other benefits, the National Pension Scheme (NPS) is a voluntary retirement savings scheme. It helps one to save returns during their retirement and fulfill their needs with pleasure. In this scheme, a fixed amount ...

Indian Economy: International credit rating agency Moody's has expressed a positive outlook on the Indian economy. Moody's has raised India's GDP growth forecast to 6.8 percent from 6.1 percent. According to Moody's, in the year 2023, the government has made significant improvements in capital expenditure and strong manufacturing activities, which have had a positive impact on the economy. In the year 2023, the Indian economy grows at the rate of 7.7 percent According to Moody's report, India's GDP growth in the fourth quarter of the year 2023 has been 8.4 percent. This has been happening for years. In such a situation, the Indian economy has grown at the rate of 7.7 percent in the entire year of 2023. Despite unfavorable conditions globally, the Indian economy should easily achieve 6-7 percent GDP growth. GDP growth forecast to be 6.4 percent in 2025 Moody's said in its Global Macroeconomic Outlook 2024, 'India's economy has performed well and...

Impact on garment exports The Indian apparel industry's weakness on this front has led to a decline in the share of global exports amid growing demand for garments made of mixed synthetics in developed countries. A report released by the research institute Global Trade Research Initiative has stated that India's apparel industry cannot grow properly due to lack of synthetics. Thus, clothes made of synthetics have now become a favorite in the fashion industry. According to the report, 70 percent of the clothes bought by developed countries are made of mixed synthetics. But their share in Indian exports is less than 40 percent. Which is the main reason for India's weak garment exports. India's apparel exports in 2023 were $14.5 billion, far below China's $114 billion, the European Union's $94.4 billion, Vietnam's $81.6 billion, and Bangladesh's $43.8 billion. The fiscal deficit target will be achieved The government has spent only three-fourths of the ...

- Instead of demanding support prices, farmers should focus on commodities where consumer spending is increasing... Recently, the government released some results of the Household Consumption Expenditure Survey. The National Statistical Office conducted a comprehensive consumption survey of 2.60 lakh households between August 2022 and July 2023. This is the first survey of its kind in over a decade, the results of which have been made public. Although such a survey was also conducted in 2017-18, the data was not made public due to data quality issues. The proportion of rural households' expenditure on food has declined from 53 per cent in 2011-12 to 46 per cent in 2022-23. Since the exact impact of increased foodgrain allocation by the government cannot be known on this ratio, it would be considered unsafe to draw any policy conclusions from this figure. What is more interesting is that the consumption expenditure of rural households has increased by 40 percent and that of urban...

Mauritius will be the first country to join India's Jan Aushadhi Yojana. Under this scheme, quality medicines are provided at affordable rates. The development partnership between India and Mauritius is an important pillar of political relations between the two countries. The scheme comes just weeks after India's Unified Payments Interface (UPI) system and RuPay card services were launched in Mauritius. Haley won't even get more funds than Trump Nikki Haley, who is fighting to become the presidential candidate of the Republican Party against Donald Trump in America, is getting a lot of financial support from the people of her party, but she is not getting the necessary votes to defeat Trump. Haley has raised 1.20 million dollars in the month of February itself. Before this, in January too, Nikki Haley had raised more than 1 million dollars. Haley also raised more money than Donald Trump in January, but Haley has no concrete plan to defeat Trump. Because of that, Haley wo...

- Bengaluru is the first in women-run startups in India, followed by Mumbai. While Delhi comes at number three - With a total of 61,400 startups in India's startup infrastructure, India ranks third in the world. First comes America and China. Bengaluru is the hub of startups in India. In this city, people take risks and implement their ideas because the government is laying the red carpet for them. - Karnataka is probably the first state in the country where a woman who starts a startup is given a grant of Rs 50 lakh. 50 lakh rupees are allocated without any guarantee after seeing the innovation in the startup and its social utility. - March 8 due to Mahila Deen When International Women's Day will be celebrated three days later, it is natural to discuss the achievements of women in the business sector. When Reliance and Disney merged last week, Nita Ambani was named as the chairman of the new company. Although the number of women at the top in the business sector may be vi...

Birthday leap day of both mother and daughter What is the coincidence that both mother and daughter were born on leap day i.e. February 29? American rheumatologist Dr. North Carolina. Such a wonderful coincidence has occurred in Kai Sun's family. Dr. Kai Sun himself was born on February 29, 1984, 40 years ago. Now in 2024, his daughter Chloe was born on February 29. Interestingly, Dr. Kain gave a date of 26 February but the delivery did not take place on the due date and a daughter was born three days later. Dr. Cain was childless for a long time and had repeated miscarriages, but when she finally did have a child, her birthday was memorable. A stone was moved in the verandah and a bomb shelter was found Although Rebecca Hobson has lived in Kent, UK for years, she did not know that there was a bomb shelter or bunker in her house. While cleaning the back porch of his house recently, he moved a stone and his eyes widened when he realized that there was a bomb shelter underneath....

- Signs of favorable conditions for the processed food industry in the country in the coming years Farmers of the country have been fighting for a long time to get a viable return on their agricultural produce. Whether it is the minimum support price or other forms of relief, farmers have to constantly fight to survive. As the country's agriculture depends entirely on monsoons and weather, there is constant uncertainty in returns, so farmers are now demanding a legal guarantee on support prices. 23 Legal guarantee of support prices for agricultural crops cannot be seen from the financial position of the country but it is necessary to make more efforts to increase the income through agriculture by removing the deficiencies in the overall agricultural sector. The support price system seems to be effective in rice and wheat as the government buys these two agricultural crops massively for food security at support prices which are not found in other crops. On the one hand, farmers a...

- A to Z of GST - Harsh Kishor - Initially there were some queries regarding the GST network. But now GST Network is more user freindly than before Soul of GST: Verashakh can be said to be the heart of GST. The GST tax system levies tax on the value added at every stage of purchase, sale or provision of services. And tax credit means the tax paid at a later stage i.e. at the stage of purchase is offset against the tax payable by the seller subject to certain conditions. Formula of Tax Liability: Tax payable == Output Tax-Input Tax credit (ITC), or T=OI. But some individuals are doing soul-sucking things for their own selfish purposes, with the intention of harming the tax revenue of the Government by creating false documents for registration and creating bogus bills and forged documents of carriage of goods on the basis of which such legally undeliverable tax credit is wrongly claimed and goods or Apart from actually engaging in service transactions, he avoids payment of tax due in ...

- Bhoo Bazar : Dilip Shah - Mills in North and Central India were operating at full capacity at 100% capacity Equations have been seen to change in the rupee market and industry sector in the country. The effect of boom in cotton market has also been seen on cotton oil and cotton washed. Recently, the prices of cotton washed in Saurashtra markets had stopped falling and there was a rapid rise, and due to this, the prices of edible oils, especially cottonseed oil, were seen going up in the markets of Mumbai and other cities of the country. Sources of the Cotton Association of India said that the new season of rupees has started in the country from the month of October 2023 and in the period of the first four months till January of the new season 2023-24, there has been a significant increase in the demand of rupees at home. During this four-month period, demand for rupees in the country increased by 18 to 19 percent and reached the level of 110 lakh bales (one of 170 kg). Last year i...

- Boolean Bits - Dinesh Parekh - Although there is a possibility of slowing down the new demand in the market ahead amid the headwinds: Global gold reached the level of 2050 dollars. Against the white market, the Fed is easing its interest rate cuts, with gold hitting between $2025 and $2040, and finally $2050 to $2055. This year, the Fed is trying to keep the inflation rate under control to 2.50 percent, indicating that it may cut interest rates after March this year. It was quoting $2034 per ounce on the Comex market in New York on Thursday afternoon. Investors analyze inflation data and are looking for a strengthening trend in gold. Traders are trading gold at a slower pace and increasing their holdings in gold on the understanding that gold holds store value and the Fed will not cut interest rates more seriously, with Commerce Bank's head of research putting gold at $50 an ounce bearish and gold in the low $1980s and highs. The price will hit $2050 per ounce. Central banks ...

MUMBAI: Despite persistent selling in stocks by foreign institutional investors came to a halt over the weekend, Sensex hit new all-time highs of 73,994 and Nifty at 22,419 on the back of heavy buying by domestic institutional investors in stocks against marginal buying. In the global markets, although the US inflation numbers at the end of the week do not give any indication of a short-term reduction in the interest rate, the indication that there is no immediate possibility of an interest rate hike has given a recovery in the global markets, which has also been supported by the market. Of course, the biggest positive factor is India's surprise GDP growth of 8.4 percent before the Lok Sabha elections. This is seen as a major effort to attract foreign funds to Indian markets by making foreign investors realize that the Indian economy is capable of rapid growth and that there are ample opportunities for development. However, as many small and mid-cap stocks are still overvalued in ...