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July 26, 2024
Mega meeting today to plan database for jobs
Within days of the Union Budget announcing several proposals related to employment, internship and skilling, the government is initiating a process to comprehensively tap relevant information on jobs and workforce.
2 mins
Skilling plan laudable, but needs clarity: Biz leaders
While praising the internship scheme announced in the Budget, India Inc wants clarity on how it will be implemented.
![Skilling plan laudable, but needs clarity: Biz leaders](https://reseuro.magzter.com/100x125/articles/18959/1777597/9ISxuzcFsbYr9QI5XkNsys/SKILLING-PLAN-LAUDABLE-BUT-NEEDS-CLARITY-BIZ-LEADERS.jpg)
3 mins
Royalty is not tax: SC allows states to levy minerals cess
Cites fiscal federalism to highlight power of states to tax
3 mins
PMS firms rethink strategy after increase in STCG tax
The 33 per cent increase in short-term capital gains (STCG) tax, as announced in the Union Budget 2024-25, is likely to make it more challenging for portfolio management services (PMS) providers to compete with mutual funds (MFS) and alternative investment funds (AIFS).
![PMS firms rethink strategy after increase in STCG tax](https://reseuro.magzter.com/100x125/articles/18959/1777597/ksG86gjz9sQnSJwbVr4sys/PMS-FIRMS-RETHINK-STRATEGY-AFTER-INCREASE-IN-STCG-TAX.jpg)
2 mins
Unilever spells out strategy behind Q1 volume growth
Unilever consolidated its share gains achieved over the last three years in India to post a volume growth of 3.8 per cent in the April-June quarter of 2024-25, Fernando Fernandez (pictured), chief financial officer at Unilever told investors after announcing its earnings for the first quarter.
![Unilever spells out strategy behind Q1 volume growth](https://reseuro.magzter.com/100x125/articles/18959/1777597/2boUQOy0sogvQIaXd8tsys/UNILEVER-SPELLS-OUT-STRATEGY-BEHIND-Q1-VOLUME-GROWTH.jpg)
1 min
Rural volumes may overtake urban by FY25-end
Kantar report says rural growth largely led by rise in population rather than consumption
1 min
TechM net up 23% on cost action; still a miss
India's fifth-largest IT services company Tech Mahindra on Thursday reported a 23 per cent year-on-year (Y-o-Y) jump in its net profit for the first quarter of 2024-25.
![TechM net up 23% on cost action; still a miss](https://reseuro.magzter.com/100x125/articles/18959/1777597/MBz4wNHzvp3x4ksHKA2sys/TECHM-NET-UP-23-ON-COST-ACTION-STILL-A-MISS.jpg)
2 mins
Nestlé flags food inflation, lower demand growth
Misses profit estimates despite 6.9% rise
![Nestlé flags food inflation, lower demand growth](https://reseuro.magzter.com/100x125/articles/18959/1777597/yEYhmVXW9W38s94CAQZsys/NESTL-FLAGS-FOOD-INFLATION-LOWER-DEMAND-GROWTH.jpg)
1 min
50% PCs to be Al-powered in 3 yrs: HP India
Global personal computer (PC) manufacturer HP expects at least 50 per cent of all PCs to be artificial intelligence (AI) devices in the next two-three years, said a senior executive.
1 min
Auto component sector still reeling from Red Sea crisis
The Red Sea crisis is significantly impacting the multi-billion-dollar India's auto components industry.
1 min
Export of iPhone in touching distance of target ahead of date
Apple iPhone exports in the April-June quarter (Q1) of 2024-25 (FY25) hit a new milestone, accounting for 79 per cent of its total freight on board (FOB) value production in the country, totalling $3.8 billion, according to data provided by its vendors to the government.
![Export of iPhone in touching distance of target ahead of date](https://reseuro.magzter.com/100x125/articles/18959/1777597/mhHEFRDb6RaZq7ooTsusys/EXPORT-OF-IPHONE-IN-TOUCHING-DISTANCE-OF-TARGET-AHEAD-OF-DATE.jpg)
1 min
'Archaic laws need to be reviewed keeping in mind recent changes'
Guidelines for public-sector banks to assess micro, small, and medium enterprises MSMEs) for credit will be finalised by the Indian Banks’ Associations IBA), says Department of Financial Services DFS) Secretary VIVEK JOSHI in an interview with Harsh Kumar and Asit Ranjan Mishra in New Delhi. Joshi also spells out the ideas behind the Budget proposals for the financial sector. Edited excerpts:
!['Archaic laws need to be reviewed keeping in mind recent changes'](https://reseuro.magzter.com/100x125/articles/18959/1777597/4kfY4GTJ8QaTgHlheGvsys/ARCHAIC-LAWS-NEED-TO-BE-REVIEWED-KEEPING-IN-MIND-RECENT-CHANGES.jpg)
3 mins
'Startups are thrilled...they feel funding winter may end with angel tax abolition'
The government is looking at ways to speed up the process of clearing foreign direct investment (FDI) proposals, Department for Promotion of Industry and Internal Trade (DPIIT) Secretary RAJESH KUMAR SINGH said on Thursday. In a post-Budget interview, Singh told Shreya Nandi in New Delhi that the pipeline of funds should get better, with abolition of the contentious angel tax. Edited excerpts:
!['Startups are thrilled...they feel funding winter may end with angel tax abolition'](https://reseuro.magzter.com/100x125/articles/18959/1777597/H9vWKna6l9aWCRbhdkxsys/STARTUPS-ARE-THRILLEDTHEY-FEEL-FUNDING-WINTER-MAY-END-WITH-ANGEL-TAX-ABOLITION.jpg)
2 mins
'Don't want to raise tariffs to high levels as industry becomes complacent'
The Central Board of Indirect Taxes and Customs Chairman SANJAY KUMAR AGARWAL says there has been a fourfold increase in the goods and services tax (GST) collections from online gaming to ₹1,150 crore every month. In conversation with Asit Ranjan Mishra, Agarwal explains the rationale behind the Customs duty cuts on silver and gold, among other Budget provisions. Edited excerpts:
!['Don't want to raise tariffs to high levels as industry becomes complacent'](https://reseuro.magzter.com/100x125/articles/18959/1777597/HsdTKqxo7Htqr6Sdopssys/DONT-WANT-TO-RAISE-TARIFFS-TO-HIGH-LEVELS-AS-INDUSTRY-BECOMES-COMPLACENT.jpg)
2 mins
'People are opting and seeing value in new tax regime'
Central Board of Direct Taxes Chairman RAVI AGRAWAL says the old regime of personal income tax can be phased out once taxpayers in substantial numbers shift to the new one. In a conversation with Shrimi Choudhary and Asit Ranjan Mishra, he says extending the 15 per cent concessionary rate (for companies) depends on how they have utilised the benefit. Edited excerpts:
!['People are opting and seeing value in new tax regime'](https://reseuro.magzter.com/100x125/articles/18959/1777597/sAmeAJxEvIo3vjTKz9Wsys/PEOPLE-ARE-OPTING-AND-SEEING-VALUE-IN-NEW-TAX-REGIME.jpg)
2 mins
TDS on income from G-sec unlikely to impact retail participation
The introduction of tax deducted at source (TDS) on income from central government securities and state bonds may not lead to a significant effect on retail participation, according to market participants.
![TDS on income from G-sec unlikely to impact retail participation](https://reseuro.magzter.com/100x125/articles/18959/1777597/5h6Shy9zYjp1sYMVnQUsys/TDS-ON-INCOME-FROM-GSEC-UNLIKELY-TO-IMPACT-RETAIL-PARTICIPATION.jpg)
1 min
'Draft of revised direct tax code in six months'
The Centre is working on a comprehensive review of the Direct Tax Code, which will be prepared by the internal committee then shared for stakeholder consultation within the next months, Revenue Secretary Sanjay Malhotra (pictured) said on Thursday.
!['Draft of revised direct tax code in six months'](https://reseuro.magzter.com/100x125/articles/18959/1777597/91sbar1DjC0n6u9N6KLsys/DRAFT-OF-REVISED-DIRECT-TAX-CODE-IN-SIX-MONTHS.jpg)
1 min
Buyers throng jewellery stores after cut in Customs duty on gold
Jewellers are seeing a rise in demand as buyers flock to stores to buy gold after the government cut the import tax on gold, silver, and platinum in an effort to reduce the smuggling of these precious metals.
![Buyers throng jewellery stores after cut in Customs duty on gold](https://reseuro.magzter.com/100x125/articles/18959/1777597/aq259XberPmFGqt8tiCsys/BUYERS-THRONG-JEWELLERY-STORES-AFTER-CUT-IN-CUSTOMS-DUTY-ON-GOLD.jpg)
2 mins
Extend prepack to big firms: Industry
As Finance Minister Nirmala Sitharaman, in her Budget speech, hinted at impending changes to the Insolvency and Bankruptcy Code (IBC), industry experts suggest priorities should include extending pre-packaged insolvency to larger firms, codifying group insolvency norms, and clarifying project-wise insolvency processes.
2 mins
Agnipath driving shift in spending patterns
Finance Minister Nirmala Sitharaman, who was defence minister until five years ago, allocated to the Ministry of Defence (MoD) on Tuesday, earmarking a Budget of ₹6.21 trillion almost the same amount as in her Interim Budget, presented before the general elections this year.
![Agnipath driving shift in spending patterns](https://reseuro.magzter.com/100x125/articles/18959/1777597/HFzvaQw9Tgk6I8cmxr8sys/AGNIPATH-DRIVING-SHIFT-IN-SPENDING-PATTERNS.jpg)
2 mins
Amazon in race to develop AI chips cheaper, faster
Texas, 25 July Inside Amazon com's chip lab in Austin, Texas, half a dozen engineers on a Friday afternoon put a closely guarded new server design through its paces.
![Amazon in race to develop AI chips cheaper, faster](https://reseuro.magzter.com/100x125/articles/18959/1777597/71hYxVmONieC5wl8uSYsys/AMAZON-IN-RACE-TO-DEVELOP-AI-CHIPS-CHEAPER-FASTER.jpg)
1 min
"Time for younger voices in Oval Office'
Says US PresidentJoe Biden in his first speech since ending re-election campaign
!["Time for younger voices in Oval Office'](https://reseuro.magzter.com/100x125/articles/18959/1777597/J3t1FZrtT1721939523913/TIME-FOR-YOUNGER-VOICES-IN-OVAL-OFFICE.jpg)
1 min
Harris is a radical Left lunatic, unfit to rule: Trump
Unleashing a volley of attacks against his new campaign opponent Vice President Kamala Harris, former president and Republican presidential candidate Donald Trump has said she is \"unfit to rule\" and described her as a \"radical left lunatic\" whom voters will reject.
1 min
The secret battle for the future of Murdoch empire
Rupert Murdoch is locked in a secret legal battle against three of his children over the future of his media empire, as he moves to preserve it as a conservative political force after his death, according to a court document seen by The New York Times.
![The secret battle for the future of Murdoch empire](https://reseuro.magzter.com/100x125/articles/18959/1777597/lYaT3H1rrIogrHU2KAmsys/THE-SECRET-BATTLE-FOR-THE-FUTURE-OF-MURDOCH-EMPIRE.jpg)
4 mins
Anatomy of a democratic coup
In December 1932, Adolf Hitler had hit rock bottom.
4 mins
Talking puppy tells tall tales
Three years ago, when I was trying to build a company (a sort of euphemism for not having steady income), some well-meaning folks sought my advice on the strategic direction for a fledgling startup.
4 mins
Capital gains tax reforms in context
The budgetary provisions on the taxation of capital gains could help foster change in trading behaviour and address inequality
![Capital gains tax reforms in context](https://reseuro.magzter.com/100x125/articles/18959/1777597/gZbk8lnQcHVmIODGJXisys/CAPITAL-GAINS-TAX-REFORMS-IN-CONTEXT.jpg)
4 mins
Govt looks for cost-effective probe measures for hill roads
The Ministry of Road Transport and Highways is looking at a comprehensive set of matrices to identify slope vulnerabilities and cost-effective remedial measures to reduce the impact of rising cases of landslides and slope destabilisation in hilly areas where national highways have been constructed.
1 min
K'taka passes resolution to scrap NEET
The Karnataka Assembly on Thursday passed a resolution to scrap the National Eligibilitycum-Entrance Test (NEET), becoming the third state after Tamil Nadu and West Bengal to ask the Centre to exempt it from the national-level medical entrance test.
![K'taka passes resolution to scrap NEET](https://reseuro.magzter.com/100x125/articles/18959/1777597/Cm1DJMsTUkfi5ccnd9Csys/KTAKA-PASSES-RESOLUTION-TO-SCRAP-NEET.jpg)
1 min
Govt plans new course for EV localisation
The Ministry of Heavy Industries is discussing a phased manufacturing programme (PMP) with stakeholders, requiring stricter localisation for electric vehicle (EV) makers to qualify for the proposed Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAMEIII) subsidy scheme.
![Govt plans new course for EV localisation](https://reseuro.magzter.com/100x125/articles/18959/1777597/PiqH7iNWh7ym6bfCtfVsys/GOVT-PLANS-NEW-COURSE-FOR-EV-LOCALISATION.jpg)
2 mins
Sale of Bharat atta, rice at revised rates extended
Move will help govt tame food prices
1 min
"Our focus is to grow exposure beyond South India'
Thrissur-based South Indian Bank is looking to expand beyond Kerala. The lender is also shifting its focus on loan mix to micro small and medium enterprises (MSMEs) and retail, from the current bias towards corporates, the bank's managing director and chief executive officer P R SESHADRI said in an telephonic interview with Shine Jacob. Edited Excerpts:
!["Our focus is to grow exposure beyond South India'](https://reseuro.magzter.com/100x125/articles/18959/1777597/pWMo7DcZolcmnBIBZgCsys/OUR-FOCUS-IS-TO-GROW-EXPOSURE-BEYOND-SOUTH-INDIA.jpg)
3 mins
RBI to tighten banks' LCR norms
Releases draft guidelines, proposes additional 5% 'run-off' factor on retail deposits
![RBI to tighten banks' LCR norms](https://reseuro.magzter.com/100x125/articles/18959/1777597/HGytDNG3vFviAJxnBigsys/RBI-TO-TIGHTEN-BANKS-LCR-NORMS.jpg)
2 mins
BSNL plans 5G rollout in 2025
State-owned telecom operator Bharat Sanchar Nigam Limited (BSNL) is planning to begin 5G services in the country by early next year, officials said.
![BSNL plans 5G rollout in 2025](https://reseuro.magzter.com/100x125/articles/18959/1777597/JWG0C3ZC0rSZsTa9rGUsys/BSNL-PLANS-5G-ROLLOUT-IN-2025.jpg)
1 min
Canara Bank profit grew 10.5% in June qtr
Public sector lender Canara Bank's net profit grew 10.5 per cent yearon-year (Y-o-Y) to ₹3,905 crore in the quarter ended June (Q1FY25) backed by non-interest income, such as fees and recoveries.
1 min
HDFC Bank rolls out FD scheme with higher rates
HDFC Bank, the country's largest private-sector lender, has launched a special edition fixed deposit (FD) scheme for customers, offering higher interest rates than its peers for tenures of 35 months and 55 months.
![HDFC Bank rolls out FD scheme with higher rates](https://reseuro.magzter.com/100x125/articles/18959/1777597/PUqtUTfQwesy6I4HLzfsys/HDFC-BANK-ROLLS-OUT-FD-SCHEME-WITH-HIGHER-RATES.jpg)
1 min
Hackers eye 'gold' as millions flock to Paris
Millions will be flocking to Paris where Olympics will be held over the next 16 days, beginning Friday.
![Hackers eye 'gold' as millions flock to Paris](https://reseuro.magzter.com/100x125/articles/18959/1777597/Kk0P532Ju2e9HFeUELNsys/HACKERS-EYE-GOLD-AS-MILLIONS-FLOCK-TO-PARIS.jpg)
1 min
India may have dengue vaccine by 2026: IIL
India may have a dengue vaccine by 2026, said a top executive of vaccine manufacturer Indian Immunologicals (IIL), as several players have joined the race to develop the country's first vaccine against the mosquito-borne disease that claimed 485 lives last year.
2 mins
Game, set, match. Now for medals
India hopes for its best ever tally in Paris Olympics, which opens today
![Game, set, match. Now for medals](https://reseuro.magzter.com/100x125/articles/18959/1777597/WBnnbwv1mI2CvXnK6xssys/GAME-SET-MATCH-NOW-FOR-MEDALS.jpg)
2 mins
Markets extend losses for 5th session; metal stocks a drag
Equity market benchmark indices Sensex and Nifty stayed on the back foot for the fifth straight session on Thursday as investors offloaded metal, banking and finance stocks amid a lacklustre trend in global markets.
1 min
Akums Drugs sets IPO price band at ₹646-679
Akums Drugs and Pharmaceuticals on Thursday set a price band of ₹646-679 per share for its upcoming initial public offering (IPO) that opens for subscription on July 30 and closes on August 1.
1 min
L&T may outperform guidance after strong Q1
L&T surprised on the upside of consensus due to stronger-thanexpected growth overseas.
2 mins
Budget bowls tax googly at SWFs, pension funds
Takes away special exemption which was extended by a year in Interim Budget
![Budget bowls tax googly at SWFs, pension funds](https://reseuro.magzter.com/100x125/articles/18959/1777597/qfSfVPpdUQXEYw5Qox4sys/BUDGET-BOWLS-TAX-GOOGLY-AT-SWFS-PENSION-FUNDS.jpg)
2 mins
Gold, overseas ETFs may get the tax edge
These assets may qualify for 12.5% LTCG taxation in 12 months
![Gold, overseas ETFs may get the tax edge](https://reseuro.magzter.com/100x125/articles/18959/1777597/x7gOpz61o8Ae5XyVSVcsys/GOLD-OVERSEAS-ETFS-MAY-GET-THE-TAX-EDGE.jpg)
2 mins
Business Standard Newspaper Description:
Utgiver: Business Standard Private Ltd
Kategori: Newspaper
Språk: English
Frekvens: Daily
Business Standard is India's leading business daily.
A preferred choice of serious business readers, Business Standard is acknowledged as a quality leader.
Business Standard stands for reporting that stresses accuracy and credibility, commentary that is informed, independent and fair, and journalism that is rooted in ethical conduct and defined by a sacrosanct bond with the reader. All Business Standard journalists sign on to a code of conduct that is available on the website.
Business Standard's editorial team is led by Shyamal Majumdar.
The English newspaper is published from 12 centers - New Delhi, Mumbai, Kolkata, Bengaluru, Chennai, Ahmedabad, Hyderabad, Chandigarh, Lucknow, Pune, Kochi and Bhubaneswar. It is also printed from Bhopal.
The Hindi Business Standard is published from eight centres - New Delhi, Mumbai, Kolkata, Patna, Lucknow, Bhopal, Chandigarh and Raipur.
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