Budget 2025 income tax: Assocham urges Finance Minister Nirmala Sitharaman to reduce personal income tax rates in the Union Budget 2025, highlighting the substantial gap between personal and corporate tax rates.
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India's current account deficit fell to 1.2% of GDP in Q2 FY25, down from 1.3% the previous year, despite a worsening trade deficit driven by higher gold imports. Services exports rose significantly to $44.5 billion, helping offset the larger trade gap.
Vishal Mega Mart Ltd. launched its IPO, raising $944 million and valuing the company at $4 billion. The offering was oversubscribed 27 times, driven by strong investor demand. The company, which operates over 600 stores across India, focuses on value pricing and caters to middle- and lower-income consumers, primarily in smaller cities and towns.
Airtel has partnered with Elon Musk’s Starlink, pending regulatory approval, to enhance its broadband services in India. This collaboration aims to provide high-speed internet to remote areas, tapping into SpaceX's satellite technology. Airtel will integrate Starlink’s offerings into its retail and enterprise solutions, bolstering its market presence.
Consumer-centric companies are witnessing a surge in sales as Valentine's Day approaches, with increased demand for jewellery, apparel, premium chocolates, and curated experiences. Quick commerce platforms like Zomato are capitalising on the spike in demand for flowers, cakes, and desserts. Retailers report sales on par with the festive season, boosting Valentine's Day's commercial appeal.
Outgoing RBI Governor Shaktikanta Das emphasized inflation control as the central bank's top priority. Das provided insights into the crucial challenges awaiting the central bank whilst expressing optimism about his successor's capabilities, as he reviewed his six-year leadership period.
Murata Manufacturing Co. is considering shifting some production to India due to growing demand and business continuity. They plan to begin capacitor packaging and distribution there by fiscal 2026, addressing infrastructure limitations while leveraging local workforce benefits and future incentives.
Women remain under-represented in India's venture capital industry, particularly in decision-making roles. Analysis highlights major firms such as Z47 and Nexus Venture Partners with no female investors. Though firms like Peak XV Partners and Blume Ventures show better representation, the industry-wide gender gap persists, impacting the startup ecosystem by potentially limiting support for women-led startups.
Adani Group and Aditya Birla Group are set to enter the high-growth wires and cables sector, challenging an industry dominated by smaller, unorganized players. This move is expected to disrupt the market significantly. Both conglomerates have invested heavily, with Adani forming a joint venture and Aditya Birla announcing a major investment and plans for a new plant.
Infosys shares fell by nearly 6%, reducing the Murthy family's net worth by around Rs 1,900 crore. Despite strong financial results, including an 11% increase in net profit for the December quarter, the company's market capitalisation decreased.
The National Company Law Tribunal (NCLT) ordered disciplinary action against the resolution professional handling Byju's insolvency case due to misconduct. The tribunal reinstated Glas Trust and Aditya Birla Finance to the Committee of Creditors, emphasizing the resolution professional's failure to act with integrity and fairness.