GST Council addresses disaster levy, clarifies tax exemptions, and revises ITC norms, while deferring insurance premium GST cut and key rate rationalisation decisions

GST council meeting

After two weeks of buying, FPIs turned net sellers in Indian equities this week, with a net withdrawal of Rs 976 crore amid a strengthening US dollar and steady rise in US 10-year bond yields, impacting investor sentiment.
Foreign Portfolio Investors (FPIs) began the week on a positive note, investing Rs 3,126 crore in equities during the first two trading sessions (December 16-20).
However, the trend reversed in the latter half of the week, with FPIs offloading equities worth over Rs 4,102 crore in the subsequent three sessions. This resulted in an overall net outflow of Rs 976 crore during the week, data from National Securities Depository Limited showed.
Despite this short-term reversal, the broader December trend remains positive. FPIs have infused Rs 21,789 crore into Indian equities so far this month, reflecting continued confidence in India's economic growth potential and its resilient markets.
FPIs adopted a cautious approach due to the US Fed meeting and uncertainty about 

Foreign portfolio investor exodus: Financial sector bears the brunt, FPI

Fundraising via IPOs in India hit another landmark as economic growth, favourable market conditions and improvements in the regulatory framework helped companies raise a record Rs 1.6 lakh crore in 2024, while the pipeline for the next year holds out bigger promise.
This exceptional year not only reflected the confidence of issuers but also highlighted investors' eagerness to seize listing-day gains or back companies with strong long-term growth potential.
The year was marked by Hyundai Motor India's historic IPO, the largest in the country's history, which raised Rs 27,870 crore.
Companies of varying market capitalisations -- large, mid, and small -- tapped into the IPO route in 2024, with the average issue size rising significantly from Rs 867 crore in 2023 to over Rs 1,700 crore in 2024.
The exceptional vibrancy of the IPO market was evident, with December alone seeing at least 15 launches.
"Rising retail participation, strong domestic inflows and active participation by FPIs (

ipo market listing share market

More than four lakh backlog vacancies reserved for Scheduled Caste (SC), Scheduled Tribe (ST) and Other Backward Class (OBC) candidates in, have been filled since 2016, Union Minister Jitendra Singh said on Thursday.
"Occurrence and filling of vacancies, including the backlog reserved vacancies, is a continuous process," he said in a written reply to the Rajya Sabha.
Instructions have been issued to all ministries/departments of the central government to constitute an in-house committee for identification of backlog reserved vacancies, to study the root cause of such vacancies, to initiate measures to remove the factors causing such vacancies and to fill them up including through special recruitment drives, said Singh, the Minister of State for Personnel.
"As per the data furnished by the ministries/departments, more than 4 lakh backlog reserved vacancies in respect of SC/ST and OBC candidates have been filled up since 2016," he said.
The minister said each ministry/department of t

Jitendra Singh

The MCD House witnessed chaos on Thursday as opposition councillors staged a protest alleging the ruling AAP of sheltering Rohingya and Bangladeshi immigrants.
The session, scheduled to begin at 2 pm, was yet to start as Mayor Mahesh Khichi had not arrived by 3 pm, further escalating tensions.
BJP and Congress councillors stormed into the well of the House, climbed atop benches, and held placards with slogans targeting the Aam Aadmi Party.
Some placards read, "Illegal Rohingyas and Bangladeshi immigrants are AAP's friends" and "Liar Kejriwal, shame on you." Slogans like "Mayor Shahab time pe aao' and "nahi chalega, aise house nahi chalega" echoed in the hall.
The opposition councillors criticised the mayor's absence and demanded an apology before allowing the House to proceed.
In response, AAP councillors raised slogans like "Baba Saheb ka apmaan nahi sahenge" and "Jai Bhim," targeting Union Home Minister Amit Shah's recent statement in Parliament on the country's first law ...

mcd house

The second encounter of the day will feature U Mumba and Patna Pirates take each other as the battle for the playoffs.

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The Banning of Unregulated Lending Activities Bill calls for the CBI to handle probes in cases spanning multiple states or UTs

The Centre, in collaboration with states, has proposed to classify unregulated lending as a cognizable and non-bailable offence, with penalties including imprisonment of up to 10 years. The finance ministry has invited feedback by February 13 from st

The official further noted that this year's Budget consultations are particularly significant due to the political outcomes of recent state elections

Nirmala Sitharaman, Nirmala

The Opposition Congress has doubled down on its demand for Home Minister Amit Shah's resignation, citing his comments on B R Ambedkar

Rahul Gandhi, Rahul, Congress leader, Priyanka Gandhi, Priyanka

Chief Minister Omar Abdullah has stressed the importance of using south Indian cinema to promote the natural beauty of Jammu and Kashmir as part of a broader strategy to boost tourism in the region.
The chief minister also expressed a desire to engage more with filmmakers from the south Indian industry, which he believes has been overlooked so far.
"The places we should be focusing on where the money is there, the budgets are big are actually the south Indian film industry. That, for reasons of arrogance or ignorance, we have consciously ignored up until now. So they are the ones with movie budgets of Rs 300-400 crore," Abdullah told PTI during a recent interview.
The chief minister observed the tourism sector would benefit greatly if films depicted the scenic beauty of Jammu and Kashmir, as he highlighted the historical connection with Bollywood that, he said, had played an important role in establishing the valley as a favourite honeymoon destination for generations of Indians.
T

Omar Abdullah,Omar

Prime Minister Narendra Modi will distribute more than 71,000 appointment letters to new recruits in various central government departments on Monday via videoconferencing, his office said.
Rozgar Mela is a step towards fulfilment of the commitment of the prime minister to accord the highest priority to employment generation, according to a statement issued by the Prime Minister's Office (PMO).
Modi will distribute more than 71,000 appointment letters to newly-appointed recruits through videoconferencing around 10:30 am on Monday. He will also address the gathering on the occasion, the PMO said.
The Rozgar Mela will provide meaningful opportunities to youngsters for their participation in nation-building and self-empowerment.
It will be held at 45 locations around the country. The recruitments are taking place for various central government ministries and departments.
The recruits, selected from around the country, will join various ministries/departments, including the Union Mini

Prime Minister Narendra Modi attends the 'Rozgar Mela' via a video conference, Monday, Feb. 12, 2024. PM distributed appointment letters to newly inducted recruits in government departments and organisations. (PTI Photo)

Congress general secretary Randeep Surjewala on Sunday claimed that the Pegasus spyware case verdict in the US proved how 300 WhatsApp numbers of Indians were targeted and asked if the Supreme Court would now conduct a further inquiry in view of the judgment.
Surjewala shared a media report which said that, for the first time, a court in the US had held Israel's NSO Group liable for its intrusive spyware Pegasus.
"The Pegasus spyware case verdict proves how 300 WhatsApp numbers of Indians were targeted in the illegal spyware racket," Surjewala said in a post on X.
He said it was time for the Narendra Modi government to answer who the 300 names targeted were.
"Who are the two Union ministers? Who are the three opposition leaders? Who is the constitutional authority? Who are the journalists? Who are the business persons? What information was retrieved by the BJP government and agencies? How was it used - misused and to what consequence?" the Congress leader asked.
He also questioned

Randeep Surjewala, Randeep, Surjewala

The rating agency's arm said that India's recent consumer price inflation at around 5 per cent was without clear evidence of a trend towards slowing price pressures

Most GCCs in India support critical business goals by using AI, data analytics, robotic process automation, and cloud services

India ranked third globally in terms of funding raised by fintech companies, behind the US and China, the report said

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J&K CM urges south Indian filmmakers to promote state's natural beauty

PM Modi to distribute over 71,000 appointment letters under Rozgar Mela

Will SC conduct further inquiry, asks Surjewala after Pegasus verdict in US

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55th GST Council takes key decisions, defers rate cuts on insurance premium

FPIs pull out Rs 976 crore from Indian equities amid rising dollar

IPO boom: Record Rs 1.6 trn raised in 2024; bigger gains expected in 2025

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