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

Indian Oil Corporation (IOC) -- the nation's top oil firm -- will invest over Rs 21,000 crore to expand the Barauni refinery in Bihar as well as in setting up a city gas distribution network across the state, a senior executive said on Thursday.
IOC is expanding its Barauni refinery to 9 million tonnes per annum from current 6 million tonnes together with a petrochemical plant at a cost of about Rs 16,000 crore and invest another Rs 5,600 crore in setting up network to retail CNG to automobiles and piped cooking gas to households and industries in 27 cities of Bihar, company Executive Director Suman Kumar said while speaking at the Bihar Business Connect 2024 investor summit here.
"IOC is the oldest investor in Bihar, setting up the Barauni refinery in 1964. The initial capacity was 3 million tonnes per annum which was later expanded to 6 million tonnes. Now we are expanding the capacity from 6 million tonnes to 9 million tonnes per annum. Alongside, a 200,000 tonnes polypropylene is

Indian Oil

The order includes 31 single-engine aircraft from Piper Aircraft in the United States and 3 twin-engine aircraft from Diamond Aircraft in Austria

Air India

By 2050, India will host 15% of the world's silver generation, facing a rising wave of dementia

Dementia, old man

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

The Uttar Pradesh health department has made special arrangements to provide an insect-free experience during the Maha Kumbh.
Officials on Sunday said an innovative system had been introduced that would deploy automatic mist blowers in the Maha Kumbh area.
These blowers are capable of eradicating mosquitoes and flies within 30 minutes of receiving a call. The system ensures a swift response and a hygienic environment for all attendees, they said.
Significant efforts are being made to maintain a clean and insect-free environment in the akharas and the expansive tent city, they added.
A total of 110 state-of-the-art mist blowers and 107 mini foggers are being deployed across the site.
These devices are expected to enhance the devotees' overall experience and ensure a healthy environment throughout the grand gathering, the officials said.
According to Dr VP Singh, nodal joint director (vector control) for the Maha Kumbh, insecticide spraying would be carried out across the entire ve

Maha Kumbh, Prayagraj

Odisha has ranked second in the country for maximum increase in green cover inside recorded forest area, according to the latest India State of Forest Report-2023.
Published biennially by the Forest Survey of India (FSI) since 1987, the report, which was released by Union forest minister Bhupender Yadav on Saturday, provides a detailed assessment of the nation's forest and tree resources.
According to the report, Odisha reported an increase of 118.17 sq km of forest inside the recorded forest area, while Mizoram was at the top position with an increase of 192.92 sq km.
Karnataka recorded an increase of 93.14 sq km of forest, West Bengal (64.79 sq km), and neighbouring Jharkhand's growth was 52.72 sq km.
In combined forest and tree cover, the state recorded a growth of 558.57 sq km and secured third position in the country.
Chhattisgarh topped the list with an increase of 684 sq km, followed by Uttar Pradesh (559.19 sq km). Rajasthan was in fourth position with a 394 sq km rise, th

forest cover, forest, India's green cover

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

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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UP govt makes special arrangements for insect-free Maha Kumbh Mela

Odisha 2nd in India for max increase in green cover inside forest area

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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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