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

Bihar's Deputy Chief Minister Samrat Chaudhary said another meeting of the GoM is scheduled for January before the proposal is reintroduced to the GST Council

Playing Secret Santa is a fantastic way to bring happiness to the office. The important thing is to keep the gifts lively and fun regardless of whether you go for a useful or something unusual gift

Christmas gifts

As per reports, Italian stationery maker FILA is likely to sell a 4.57 per cent stake in the company, after the one-year lock-in for shareholders ended

Stock Market, Market, Crash, Funds, up, Stock, Gain, Lost, decline, statistic, Crisis, Capital, BSE, NSE

Billionaire Gautam Adani's conglomerate on Thursday unveiled a new version of its 'Hum Karke Dikhate Hai' campaign as it looks to bounce back from the damning indictment by the US authorities in an alleged bribery case.
"Building on the success of its previous edition, this multi-media, multi-platform campaign moves beyond the conventional corporate strategy of emphasizing statistics and figures to focus on inspiring human-interest stories. These narratives showcase the profound, positive impact of Adani's infrastructure projects on the lives of millions of Indians," the group said in a statement.
On November 20, 2024, the United States Department of Justice and the US Securities and Exchange Commission (SEC) issued an indictment and a civil complaint, respectively, in the United States District Court for the Eastern District of New York, against chairman Gautam Adani, his nephew Sagar Adani and key executive Vneet Jaain.
The charges relate to allegations of securities fraud, wire .

Adani group

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

While speaking at the "Hala Modi" community event at Kuwait's Sheikh Saad Al-Abdullah Indoor Sports Complex, PM Modi highlighted India's rapid transformation in various fields, including technology

Digvijaya Singh, Digvijaya

Manchester City's stunning slump continued Saturday with a 2-1 loss to Aston Villa in the Premier League.
Goals from Jhon Duran and Morgan Rogers at Villa Park consigned the four-time defending champion to a ninth defeat in 12 games in a season that is unravelling. Pep Guardiola's team has won just once during that run.
We have to stay positive, even though it's difficult, and we have to keep working hard, City striker Erling Haaland said.
Phil Foden pulled a goal back for City in stoppage time, but it wasn't enough to spark a late comeback.
City dropped to sixth in the standings  nine points below leader Liverpool, having played two games more. Villa climbed to fifth.
City's remarkable fall shows little sign of stopping, with Guardiola admitting last week that he had not been good enough to turn his team's form around.
Defeat meant the once-dominant City is without a win in any of its last eight away games in all competitions. While it looks unlikely to win a fifth-straight titl

Sporting CP vs Manchester City

Nikolaos Karelis' early strike earned Mumbai City FC a 1-0 victory over Chennaiyin FC in the Indian Super League here on Saturday before East Bengal FC triumphed over Jamshedpur FC 1-0 in Kolkata for their fourth win in last five games.
With their victory, Mumbai City FC moved from the seventh place to the fourth spot in the points table, accumulating 20 points from 12 games with five victories.
This match also marked the third straight away game where the Marina Machans were unable to find the back of the net.
At the Vivekananda Yuba Bharati Krirangan in Kolkata, marksman Dimitrios Diamantakos (60th minute) was the only player on target for the home side as they maintained their mid-season rise under their new tactician Oscar Bruzon.
While the Red & Golds secured their fourth win in their last five matches in the competition, Jamshedpur FC, on the other hand, were inefficient in creating and finishing chances.
Jamshedpur FC were the team on the ascendency in the first 10 minutes 

MUMBAI CITY FC, ISL

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

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

GST Council defers decision to reduce tax on health, life insurance

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