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

Adani Energy Solutions (AESL) on Thursday said it has incorporated a wholly owned subsidiary Adani Energy Solutions Step-Ten Ltd (AESSTL).
The AESSTL is incorporated in India and registered with the Registrar of Companies, Gujarat in Ahmedabad on December 18, 2024 and is yet to commence business operations, a regulatory filing said.
According to the filing, AESSTL is incorporated by AESL, for transmission, distribution and supply of power and other infrastructure services relating thereto.
The authorised share capital as well as paid-up share capital of the arm is Rs 1 lakh.
The equity shares are being acquired at a face value of Rs 10 each. The AESL will hold 100 per cent equity of the AESSTL.

Adani Energy

The representation of Scheduled Castes (SCs) and Scheduled Tribes (STs) in the central government workforce is as per the prescribed limit, the Rajya Sabha was informed on Thursday.
According to the information provided by the ministries/departments, as on January 1, 2024, the number of employees belonging to SCs, STs and Other Backward Classes, OBCs, is 5.47 lakh, 2.82 lakh and 8.55 lakh, Union Minister of State for Personnel Jitendra Singh said in a written reply.
"The representation of SC and ST is as per the prescribed limit of 15% and 7.5% respectively. The representation of OBCs in direct recruitment has also consistently been more than 27% during the last 10 years," he said.
To a query seeking reasons for removal of data on reservation in Union government jobs and positions from the Annual Report (2023-24) of DoPT (Department of Personnel and Training), Singh said obtaining data/information from ministries/ departments is a time-consuming process.
"At the time of finalising 

Jitendra Singh MoS for Development of North Eastern Region ( Independent Charge), PMO addresses during a press conference after a cabinet meeting, at the National Media Center in New Delhi.

Jitendra Singh

DMK leader R S Bharathi stated that if PM Modi truly valued democratic principles, Shah should be temporarily removed from his ministerial position

M K Stalin, Tamil Nadu CM, DMK President

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

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

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)

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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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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