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

This week, eight contestants are nominated in the Bigg Boss 18 house. Avinash Mishra is the Time God for this week. If you want to save your favourite contestants, here's how to go about it

Bigg Boss Season 18

According to reports from Australia's Channel 7, Kohli seemed visibly upset by the presence of cameras aimed at his family, particularly his wife, Bollywood actress Anushka Sharma.

Virat Kohli angry video

Winter vacations 2024 for the months of December, January and February 2025 have been announced across many states in India, know the state-wise schedule

Winter vacations

The latest Economic Survey said, India has to find the right balance between importing goods from China and importing capital (FDI) from China

How policymakers are split over attracting Chinese investment into India

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

According to The Verge, this feature is part of a broader rollout of context-aware capabilities in Gemini, designed to enhance the way users interact with their digital files

Gemini

A Delhi court has granted permission to Congress MP Karti Chidambaram, an accused in the INX Media case, to travel to Austria and the UK between January 4 and 12, noting that he had never abused the liberty granted to him in the past.
In an order passed on December 17, Special Judge Kaveri Baweja allowed Karti Chidambaram to travel to Vienna (Austria) and the UK to attend events related to his company and meet his daughter.
"It is a matter of record that the applicant had sought permission of the court to travel abroad on numerous earlier occasions and the same was always granted to him even by the Supreme Court, as well as by this court and he never abused the above concession or liberty granted by the court," the judge said.
The Enforcement Directorate (ED), represented by special public prosecutor NK Matta, opposed Karti Chidambaram's application, saying he might misuse the liberty.
The Central Bureau of Investigation (CBI) had registered a case on May 15, 2017, alleging ...

Karti Chidambaram, Karti, Chidambaram

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

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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Google's Gemini new update enables users to directly query PDFs on mobile

INX Media case: Court allows Congress MP Karti Chidambaram to travel abroad

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

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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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