GCMMF has announced a Re 1 price reduction per litre for its one-litre Amul milk packs across India to encourage consumers to buy larger packs. In Delhi, Amul Gold will now cost Rs 67, and Amul Taaza is priced at Rs 55. GCMMF reported an 8% growth in turnover and continues to expand its global presence.
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Infosys has announced salary hikes of 5% to 8% for employees ranging from junior to senior roles up to job level 7, with top performers receiving double-digit hikes. Increments for title holders will be rolled out in April. The average salary hike for India employees is between 6% and 8%. Infosys plans to hire 15,000 freshers this quarter and 20,000 freshers in 2025-26.
KFin Technologies Ltd reported a 35% year-on-year increase in profit after tax to Rs 90.18 crore for the quarter ended December 2024. Revenue from operations rose by 32.6% to Rs 290 crore. For the first nine months of FY25, the company's PAT grew by 44.3%, with revenues increasing to Rs 808 crore.
Joann Inc, the fabric and crafts retailer, is shutting down all stores after 80 years of operation. Despite efforts to keep the company afloat, financial struggles and weak consumer demand led to its decision to close following a recent acquisition by GA Group.
The Income-Tax Department has extended the deadline for filing belated or revised income tax returns for fiscal year 2023-24 from December 31, 2024, to January 15, 2025, providing resident taxpayers an additional two weeks to reconcile their financial records.
The 2020 tax deferment policy for ESOPs aims to address immediate tax liabilities and financial strain on startups. Despite its potential, applicability is limited to only 3,605 IMB-certified startups. NASSCOM recommends expanding eligibility to all DPIIT-recognized startups to attract talent and reduce employee attrition.
China's GDP is expected to grow around 5% in 2024, says President Xi Jinping. The economy showed stability despite uncertainties, aided by stimulus measures. Xi emphasized proactive macroeconomic policies for 2025 while addressing challenges. Upcoming monetary easing by the PBOC and further stimulus measures are anticipated to support growth amid weak demand and external uncertainties.
India's economy is projected to become the fourth largest globally by 2026, surpassing Japan. The PHD Chamber of Commerce and Industry anticipates a GDP growth of 6.8% this fiscal year and recommends tax reforms to boost consumption. They also foresee a 25 basis point rate cut by the Reserve Bank, with inflation expected to decline significantly.
Illegal online betting and gambling in India have surged, with 1.6 billion visits recorded on major platforms. Despite government actions, illicit operators thrive using advanced marketing, frictionless payments, and mirror websites. The report urges a comprehensive approach, including stricter digital media controls, financial regulations, and enhanced enforcement to disrupt illegal gambling operations effectively.
India's Finance Act of 2022 has introduced a 30% tax on income from cryptocurrencies, classified as virtual digital assets. Investors are required to pay 1% TDS on transactions exceeding certain limits and cannot offset cryptocurrency losses against other gains or carry them forward.
Kristalina Georgieva, IMF managing director, predicts India's economy will be slightly weaker in 2025 due to global uncertainties, including US trade policies. While the US performs better, the EU stalls, and China faces deflationary pressures, India's GDP growth in 2024-25 is expected to slow to 6.4% amid manufacturing moderation, sluggish investment, and geopolitical tensions.