Experts downplay panic amidst $12 billion FPI sell-off in Indian equity markets in October
Foreign Portfolio Investors (FPIs) may have caused turbulence in Indian equity markets with their substantial $12 billion in gross sell-offs in October, but experts caution against panic or making doomsday predictions. This is because value of $12 billion sold is just a minuscule proportion of the $800 billion stock of
Corporates can file ITR for FY25 till November 15
The Income Tax Department has extended the due date for filing returns by corporates and individuals whose accounts need to be audited to November 15. “The Central Board of Direct Taxes (CBDT), in exercise of its powers under section 119 of the Income-tax Act, 1961, extends the due date of
Soft landing of global economy is increasingly a possibility: Nirmala Sitharaman, ETCFO
A soft-landing of the global economy, which has experienced tremendous stress over the past several years, is increasingly a possibility, Union Finance Minister Nirmala Sitharaman said Friday. Observing that better days are ahead primarily because of the coordinated action between countries and multilateral financial institutions, the finance minister at the
Deloitte projects Indian economy to grow 7-7.2% in FY25, CFO News, ETCFO
The Indian economy could grow between 7-7.2 per cent in the current fiscal on strong government spending, and higher manufacturing investments, but a tempered global growth will impact the outlook for the next fiscal, Deloitte India said on Tuesday. In its ‘India Economy Outlook for October 2024’, Deloitte said the
Part of India’s sugar export quota to Maldives ‘diverted’ to Sri Lanka, Malaysia
Some Indian exporters have allegedly misused a part of the 64,494.33 tonnes of sugar allocated by the Centre to Maldives under a bilateral agreement between the two countries. The Directorate-General of Foreign Trade (DGFT) had on April 5, 2024, issued a notification under the agreement permitting rice, wheat flour, dal,
InterGlobe Aviation slips into red
After seven consecutive quarters of profit, InterGlobe Aviation slipped into the red posting a net loss of ₹986 crore in September-end quarter. In the same period last year, the company, which operates India’s largest domestic airline IndiGo, had reported a net profit of ₹188 crore. The airline management blamed seasonality, temporary headwinds
IMF says India’s GDP growth to moderate to 7 pc in 2024 and 6.5 pc in 2025, ETCFO
India’s GDP growth is likely to moderate from 8.2 per cent in 2023 to 7 per cent in 2024 and 6.5 per cent in 2025 because the pent-up demand accumulated during Covid has exhausted, as the economy reconnects with its potential, the International Monetary Fund (IMF) said on Tuesday. About
RBI move to slow down gold loan growth, lead to uptick in delinquencies: Crisil, ETCFO
Mumbai: The Reserve Bank’s recent notification asking financiers to review their gold loan practices can slow down loan growth in the near-term and lead to an uptick in asset quality stress, a domestic rating agency said on Tuesday. “Potentially, this could impact gold loan disbursements during the transition phase and
Malaysia, Indonesia export sops for refined edible oils a worry, says IVPA chief
After the hike in edible oil import duties, the industry fears that refined oils may reach India via Nepal and Bangladesh where the Free Trade Agreement (FTA) is in force. Getting the edible oils processed there and selling it in India can still be cheaper. Besides, the Government has to
India wouldn’t be fastest-growing economy if people hadn’t utilised digital infrastructure: Nirmala Sitharaman, ETCFO
Finance Minister Nirmala Sitharaman stated that India wouldn’t have been the fastest-growing economy if the people hadn’t utilized the digital infrastructure. The minister emphasized the role of digital infrastructure in making India one of the fastest-growing economies. “Today, India wouldn’t have been the fastest-growing economy if the people hadn’t utilized