Market and Business News

Mumbai: Interest rate cuts in India are expected to begin early next year. The Reserve Bank of India (RBI) would prefer to see inflation come down to around four percent before cutting interest rates. Softening crude oil prices and reduced demand will bring down fuel prices and inflation. The cycle of inflation and interest rate hikes has reached its peak. But we expect the Reserve Bank to start cutting interest rates in early 2024 as its first target is to bring down inflation to four percent, said a report issued by S&P. S&P expects India's inflation to fall to five per cent in fiscal 2023-24, assuming the current year's monsoon will be normal. Inflation was 6.70 percent in the last financial year. As inflation and the reduction in the fiscal deficit have reduced the pressure to increase interest rates, the demand for a cut in interest rates is increasing. However, keeping in mind the high interest rate situation in America and the hanging risk of inflation, the i

MUMBAI: In the global market, the dollar index weakened as investors took to the precious metal, which resulted in an improvement in prices. After the world market, the prices of gold and silver rose at home as well. A surge of Rs 1000 was seen in silver. Crude oil prices improved on concerns of internal uncertainty following the coup in Russia. The rupee remained steady against the dollar in the forex market at home. On the first day of the week, the price of gold excluding GST at 99.90 ten grams in the Mumbai market was trading at Rs 58,726, higher than last week's official close of Rs 58,395. The non-GST price of ten grams of 99.50 gold was Rs 58491. With GST, the prices were raised by three percent. The non-GST price of silver. Prices were three percent higher with GST. Gold 99.90 per ten gram was quoted at Rs 60,700 while 99.50 was quoted at Rs 60,500 in the Ahmedabad market. Silver was priced at Rs 70,500 per kg at 999 per kilo. Ahmedabad silver also rose by Rs 1000 from t

MUMBAI: In the global market, the dollar index weakened as investors took to the precious metal, which resulted in an improvement in prices. After the world market, the prices of gold and silver rose at home as well. A surge of Rs 1000 was seen in silver. Crude oil prices improved on concerns of internal uncertainty following the coup in Russia. The rupee remained steady against the dollar in the forex market at home. On the first day of the week, the price of gold excluding GST at 99.90 ten grams in the Mumbai market was trading at Rs 58,726, higher than last week's official close of Rs 58,395. The non-GST price of ten grams of 99.50 gold was Rs 58491. With GST, the prices were raised by three percent. The non-GST price of silver. Prices were three percent higher with GST. Gold 99.90 per ten gram was quoted at Rs 60,700 while 99.50 was quoted at Rs 60,500 in the Ahmedabad market. Silver was priced at Rs 70,500 per kg at 999 per kilo. Ahmedabad silver also rose by Rs 1000 from t

New Delhi: Inspections of factories in various states and Union Territories by the Labor Department nearly tripled in 2019 to a 13-year high. According to the latest data released by the Labor Bureau, the total number of inspections conducted by the Department of Labor increased to 85,558 in 2019, up from 28,489 in 2018. The data released by the Labor Bureau on Factory Inspection is a compilation of data from States and Union Territories. It is prepared under the Factories Act, 1948, which requires all registered factories to file annual statutory returns and administrative reports with their local labor commissioners. 92,261 tests were conducted in 2006, which is more than the number of tests conducted in 2019. According to the rules framed under the Act, the inspector level officer has to investigate the grievances of workers, trade unions, private individuals etc. Of the total 2,34,696 registered factories, 69,328 factories (29.5 percent) were inspected only once in 2019, while

New Delhi: India and Australia plan to conclude negotiations on a comprehensive economic cooperation agreement by December, marking one year since the entry into force of the Interim Economic Cooperation and Trade Agreement. Informed sources said that when the interim agreement was signed last year, it was decided that it would be used as a basis for a more ambitious trade agreement, namely the Economic Cooperation Agreement. The new agreement will cover five areas including comprehensive market access and digital trade, goods and services, rules of origin and government procurement and cooperation. Besides, 15 new areas such as competition policy for small businesses, gender, innovation, agritech, essential minerals, sports are being discussed in the border trade agreement between India and Australia. Both the countries have held three rounds of talks regarding this. The fourth round meeting is to be held next month. The agreement with Australia is significant as it will be the f

image : Twitter A great news has come for the people of Gujarat. Vedanta's Anil Agarwal's semiconductor dream may be shattered. The reason is that Foxconn has to start looking for a new friend or say a new partner on this front. According to reports, Taiwanese contract manufacturing firm Foxconn has started talks with another business group in the country to jointly develop its semiconductor manufacturing project in the country. It is worth mentioning that in this matter, the government tried to take credit for the semiconductor manufacturing project by making huge advertisements. However, the matter has now stalled due to differences between Vedanta and Foxconn. Differences surfaced between the two partners Sources said that Foxconn's joint venture with billionaire Anil Agarwal-led Vedanta Group to set up a semiconductor manufacturing unit in Dholera, Gujarat, years ago could be in trouble as differences between the two partners have surfaced. The government was worri

As an indigenous e-commerce operator in India, Flipkart has made a good investment in India. It has established an extensive technology based network in India. These comprehensive networks, wastehouses, transport fleets, and experts also assist in meeting their various needs. Technology plays a central role Technology plays a central role in Flipkart's supply chain operations. It finds solutions by innovating in automated guided vehicles cross belt sorters and robot packing machines. This strong supply chain (supply chain) inspires entrepreneurs. Hence countless local entrepreneurs and small and medium enterprises have been confirmed, providing livelihood to many. Because it (Flipkart) covers the survey in the digital ecosystem, reaching the nationwide market. In this way, Flipkart saves incidental costs. Made transportation of goods faster and cheaper Over the years it has developed a supply-chain using cutting-edge technology developed in India. By using this technology and

There is good news about employment in India. Union Minister Rajiv Chandrasekhar has claimed that 20 lakh job opportunities will be created in India by 2030. The Chief Executive Officer of Amazon gave the information The thing is, Amazon Chief Executive Officer Andy Jesse has said that in the year 2023 to 2025, they are working on creating 20 lakh job opportunities in India. The decision regarding this was taken in the meeting of Indian Prime Minister Narendra Modi and JC held in America. These issues were discussed in the meeting held between Prime Minister Narendra Modi and JC In the meeting between Prime Minister Narendra Modi and JC in America, various issues including helping Indian startups to create employment opportunities, promoting exports, digitalization and making people self-reliant were discussed. About 10 million small businesses will also get help in digitalization During the conversation with Prime Minister Narendra Modi, Amazon said that they will provide 20 la

If you are planning to file your return in the coming days, you should know that there have been some changes in the ITR filing rules. If you are not aware of these changes then you can get into trouble even after paying taxes. These five rules changed 1) Mention income from virtual digital assets According to the informants, Virtual Digital Asset i.e. VDA includes crypto currency and this VDA attracts taxation, surcharge and cess at the rate of 30 percent. Hence you have to provide information like date of purchase or transfer of crypto currency, appropriate tax category etc. Apart from this you have to file ITR-2 and ITR-3. 2)Method of coming out of 115BAC If an individual or a Hindu comes under undivided family, he can opt for an optional tax regime under 115BAC but once the individual stops paying tax under this section, he cannot avail it again. If you don't want to pay tax under 115BAC then you have to fill Form 10-IE on e-filing portal. 3) Mention of income from intra

Mumbai: Despite a fortnight's delay in the monsoon, local fund index-based stocks saw a halt in selling and covering after a good start to rains in many parts of the country today. On the international front, despite a good start to the monsoon, funds refrained from big buying due to a cautious mood in global markets as a confidence crisis weakened consumer spending figures despite a stimulus effort amid reports of a slowdown in Europe and challenges to economic growth in China, signs of rising geopolitical tensions amid a coup attempt in Russia. At the end of index-based narrow fluctuations, Nifty remained in positive zone while Sensex remained in moderate negative zone. Sensex closed 9.37 points lower at 62970 at the end of narrow two-way fluctuations. While the Nifty spot closed by 25.70 points at 18,691.20. Out of the total 3818 scrips traded in BSE, the number of gainers was 1860 and the number of decliners was 1783. Auto stocks rally on good start to monsoon Funds in autom

- Sensex and Nifty-50 fell by 5 and 4.1 percent respectively in 2015 due to El Nino. The biggest short-term risk for markets is lower-than-expected rainfall due to El Nino this year, although its full impact on prices is yet to be seen. The onset of monsoon in Kerala on June 8 is almost a week late. Analysts said the Sensex recently hit a new all-time high but the market may see a slight dip now and El Nino could also be the main reason for this. El Nino is a weather phenomenon that occurs when temperatures in the central and eastern Pacific Ocean become abnormal and atmospheric patterns change. Due to which the Indian subcontinent is seeing weakness in monsoon. Due to this El Nino also affects the Indian Monsoon. Analysts say lower-than-expected rainfall and an uneven monsoon could lead to fears of a rise in food and fuel inflation, which could also impact the Reserve Bank's monetary policy. The Reserve Bank is also concerned about inflation and has cut its forecast for fisc

- India can benefit from the Cold War between America and China through friendship with America... - India has joined hands with America to realize the dream of making the economic system prosperous and the third number economic system in the world, while China has become fuming. - America leaned towards India, thinking that only India has a plan to counter the strength of China's manufacturing capacity: Several reasons behind growing resentment among manufacturers in China The reverberations of India's Prime Minister Modi's visit to America are being felt in the world's business sectors. It is natural for China to feel tension after seeing the multi-billion dollar business deals between India and the US and the respect given to India. Among India's two closest enemies, Pakistan is languishing due to its own mistakes, while China is infamous in the world for its regionalism policy and misuse of manufacturing capacity. Instead of saying that the cold war between

The Cold War between Airbus and Boeing A cold war is going on between two of the top aircraft manufacturers, Airbus and Boeing. This cold war has started after IndiGo ordered 500 planes to Airbus. Boeing has received only three orders from India in the last 18 months. Boeing's market in India is broken. Earlier, Air India's order of 470 aircraft and now Indigo's order of 500 is certain to take Air Bus even higher. Pharmaceutical exports will cross $28 billion There has been a boom in pharmaceutical drugs exported from India. Director General of Pharmaceutical Export Promotion Council said that India will export pharmaceutical drugs worth 28 billion US dollars in 2023. Amid global challenges, India's pharma export can be said to be an achievement. Musk's sister Tosca Musk Elon Musk's sister's name is Tosca Musk. He recently said in an interview that when I go out for shopping, people ask me for more money and say that what are you worried about, will yo

- Smile Index - Vanity - If the Birajati government appeals at the peak of popularity, there will be such a rush of buyers that four new helicopter companies will have to be started to sell them. We have had successful attempts in the past to sell the Taj Mahal and Red Fort (deals have been done even though possession has not been obtained), airports, ports and highways have also been sold, but even after four trials of a helicopter company like Pawan Hans from the Govt. Not sold. That too at a time when Mumbai or Bengaluru is okay, but even in cities like Ahmedabad or Surat, sometimes people who are tired of traffic think that it would be better to call a helicopter and fly instead. Although the helicopter is easy to fly, it is a problem of parking. Even now, after the installation of solar panels on the roofs, there is little space for the helipad. A scooter can be parked in the common plot of the society by bullying, but not in a helicopter. It is a question why no marriage ev

New Delhi: Underscoring the benefits of a shorter trading cycle, global index provider Morgan Stanley Capital International (MSCI) has recognized a shorter settlement cycle of T+1 (Trade+1) in India for equity markets. India implemented a shorter T+2 cycle for all listed companies in January this year, allowing for next-day transfer of shares and funds. India has moved towards the T+1 framework in a phased manner and a large number of largecap companies have moved into this settlement cycle. MSCI said in a statement after its annual review that international institutional investors have implemented short cycles without any issues following market regulator Sebi's operational reforms. During the phased implementation of the T+1 cycle, many market participants expressed apprehension regarding pre-funding of trades in terms of settlement risk mitigation and forex business management. However, analysts say that such a transition has been smooth in India. Developed markets such as

MUMBAI: Inflation is slowing personal consumption spending, resulting in declining corporate sales and stalling private investment in capacity building, a Reserve Bank of India (RBI) report said. The Indian rupee is one of the most stable currencies and its volatility is at its lowest level since 2008, according to a report on the state of the country's economy. Reserve Bank Deputy Governor M. d. This report has been prepared by Patra and other RBI officials. The report contains the personal opinion of the officers and not that of the Reserve Bank. After depreciating by 7.80 percent against the dollar in the financial year 2023, the rupee is seen stable in the current financial year. Due to the Russia-Ukraine war, the rupee saw a decline in the last financial year. The rupee has seen narrow fluctuations in the current financial year. In the current calendar year till June 9, the country's forex reserves have increased by $31 billion, which is the second largest increase amo

- Lokabhimukha Guidance - H.S. Patel IAS (Retd.) - Impairment of Reserve should be done in the form of campaign India is an agriculture-led country and even today India's economy is predominantly based on agriculture and accordingly revenue collection from agricultural land was an important source of revenue for the state. Before the arrival of the British - Sher Shah Suri first determined the shape of the land (revenue) according to the type of land. In the province of Bombay and in present-day Gujarat, there was a system of 'raiyatwari' in which the revenue was paid directly to the state in the area under British rule. This revenue system is known as survey settlement in which Mumbai measurement and jamabandhi rules are collected. G. Gordon I.C.S. Prepared by the officer, in which the methods of land measurement and the method of determining the revenue according to the type of land is known as settlement. Then Anderson developed a revenue accounting system known as t

Bhoo Bazar : Dilip Shah The country has an annual demand of around 2.4 million tonnes of edible oils, of which 60 percent is met through imports. The edible oil market and industry in the country has recently witnessed a rapid reversal of equations. In the initial months of the current year 2023, the prices of imported edible oils, especially imported edible oils, rose to new record highs, followed by a rapid fall from highs. Recently, due to cyclones and rains in Gujarat, Saurashtra and Kutch region, the operations at the ports were affected and the income and movement of goods were also affected in the markets. Edible oil prices had increased. However, market sources said that there has been a retreat in the market price due to the usual trading of goods. Recently, the government also reduced the import duty on refined soybean oil and refined sunflower oil. The government has directed to reduce such import duty which was earlier 17.50 percent to 12.50 percent. Although the import

A total turnover of Rs.3,96,358.12 crore was recorded in 58,87,440 trades in various commodity futures, options and index futures on the country's leading commodity derivatives exchange during the week from June 16 to 22, with commodity futures accounting for Rs.1, 04,050.77 crore and the share of options was Rs.2,92,055.18 crore. During the week, open interest in silver (30 kg) options contracts was seen at a high of 362 tonnes on Tuesday, June 20. Along with this, a record notional turnover of 178 tonnes worth Rs 1,287 crore was recorded in options contracts of silver (5 kg). During the week under review, 10,02,595 trades worth Rs.60,133.09 crore were transacted in precious metals futures in gold and silver. In gold futures, gold August futures opened at Rs.59,340 per 10 grams at the beginning of the week, during the week it hit a high of Rs.59,555 and a low of Rs.58,150 during the week, at the end of the week Rs.1,159 fell to Rs.58 It reached the price of 196. Against this, G

- Global figures indicate continued weakness in performance on the export front - Smartphone performance is good while labor oriented apparel and textiles picture is poor In May of the current year, the export of goods of the country has decreased to 34.98 billion dollars. In May last year, the figure of goods export was 39 billion dollars. On one hand, the government is bringing schemes like Product Linked Incentives to increase exports from the country, on the other hand, the struggle on the export front can be a matter of concern. Imports also fell to $57.10 billion in May and the trade deficit widened to a five-month high of $22.12 billion. According to the received statistics, out of total 30 major sectors, 17 sectors have seen an annual decrease in exports. Sectors that have seen a decline in exports mainly include petroleum products, gems and jewelery and engineering goods, while exports of electronics, including smartphones, have seen encouraging growth. A significant decli