The US economy ended 2024 with a solid performance driven by strong consumer spending and government support resulting in a 2.8% growth for the year. Despite inflation pressures and a slight dip in business investment, the overall economic outlook remains positive as President Donald Trump takes office in 2025.
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Union home minister Amit Shah commended Prime Minister Narendra Modi and finance minister Nirmala Sitharaman for presenting a comprehensive and visionary Union Budget 2025. Key features of the budget include a significant tax exemption for income up to Rs 12 lakh, aimed at enhancing the financial well-being of the middle class.
The government's decision last July to reduce import duties on gold has significantly had a positive impact on the industry, and any increase in tariffs in the upcoming Budget may have adverse effects, said World Gold Council.
Adani Group stocks experienced a significant recovery on Tuesday, with Adani Power leading the surge by 19.29%. Other notable increases included Adani Green Energy, Adani Energy Solutions, and Adani Total Gas. Benchmark indices Sensex and Nifty also rebounded, with the BSE Sensex rising by 505.6 points.
NACDAC Infrastructure's Rs 10 crore IPO received a record-breaking Rs 14,386 crore in bids, achieving a 1,976 times oversubscription. Retail investors and high-net-worth individuals showed particularly strong interest. The Ghaziabad-based construction company secured funding from two anchor investors ahead of the IPO, aiming to utilize the proceeds for working capital and general corporate purposes.
The GST on the margin of sale for used vehicles, including electric ones, has been revised to 18%. GST is payable only on the margin between purchase price and sale price. For depreciated vehicles, GST applies only if the sale price exceeds the depreciated value. Negative margins incur no GST liability.
The Defence Ministry has rejected Larsen and Toubro’s bid for the Rs 70,000 crore tender under the Navy’s Project 75 India initiative due to non-compliance with Indian Navy requirements, leaving Mazagon Dock Shipbuilders Limited as the sole contender with Germany’s ThyssenKrupp Marine Systems.
Raamdeo Agrawal advises investing in 'bruised blue chips' — top companies experiencing temporary declines. He believes the current market, with declining valuations and earnings, presents opportunities.
Global stock markets show a strong rally. The Dow Jones, NASDAQ, and S&P 500 increase. Gold and oil prices also rise. Donald Trump announces a pro bono legal service agreement. US wholesale prices drop, but trade tensions between the US and China escalate. China plans to file a complaint with the World Trade Organization.
The road transport ministry in New Delhi proposed a tax rebate of up to 50% for buyers who submit a scrapping certificate for their BS-I, BS-II, or older vehicles. This initiative aims to reduce vehicular pollution by encouraging citizens to replace old, polluting vehicles with newer models, providing significant financial incentives.
India's government grapples with a massive rice surplus, exceeding four times the required stock. Despite offering a large quantity for ethanol production, there are no takers. To address this, the government considers lowering the sale price for distilleries and potentially allowing sugar exports to manage the excess stock.