Top headlines: Budget 2022 sparks concerns on inflation; HDFC Q3 net up 11%

Business Standard brings you the top headlines on Wednesday

India's growth-focused Budget sparks concerns on inflation, tighter rates

India's growth-focused budget for the upcoming fiscal year, on the back of record market borrowing, has fuelled worries among bond traders who fear the central bank may now be forced to act on the inflationary risks, despite its dovish policy stance.

Coupled with global crude oil prices at seven-year highs and expectations for the U.S. Federal Reserve to raise rates more aggressively, traders fear the government's plans mean the Reserve Bank of India may need to act sooner rather than later. Read more

HDFC Ltd's Q3 net up 11% YoY to Rs 3,261 cr, beats street estimates

Mortgage lender Housing Development Finance Corporation (HDFC Ltd) has reported an 11 per cent jump in net profit to Rs 3,261 crore in the October–December period of FY22, beating street estimates. Net profit was aided by higher income and lower-than-expected credit loss. Analysts at Bloomberg had estimated a net profit of Rs 3,099 crore in the current quarter.

Net interest income (NII) of the mortgage lender increased by 7 per cent to Rs 4,283.8 crore in Q3FY22 compared to Rs 4,004.74 crore in the year-ago period and net interest margin, a measure of profitability, stood at 3.6 per cent. Read more

Next year's ITR to have separate column for crypto income: Revenue Secy

Income tax return forms from next year will have a separate column for making disclosures on gains made from cryptocurrencies and paying taxes, Revenue Secretary Tarun Bajaj said on Wednesday.

The government will from April 1 charge a 30 per cent tax plus cess and surcharges, on such transactions in the same manner as it treats winnings from horse races or other speculative transactions. Read more

Tata Sons excited to work together to make AI airline of choice: Ratan Tata

'Tata Group is excited to work together to make Air India the airline of choice in terms of passenger comfort and service'. This is an audio message from Ratan Tata played onboard some Air India flights.

Tata Group completed the takeover of the loss-making Air India on January 27.

On Wednesday, the airline tweeted a 19-second video with the message of Ratan Tata. Read more