The Goods and Services Tax (GST) Council has approved an increase in the GST rate on the sale of old and used vehicles from 12% to 18%. This revision applies to vehicles sold by businesses that claim depreciation and sell vehicles on a margin basis. However, individual buyers and sellers of old vehicles will continue …
The Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PM-JAY) is a government-backed health insurance scheme aimed at providing free medical coverage to vulnerable sections of society, including senior citizens above 70 years of age. Beneficiaries can avail of health coverage of up to ₹5 lakh annually, ensuring access to quality medical care without financial burden. …
After a 5% drop over 5 consecutive sessions, Indian stock market benchmarks—Sensex and Nifty 50—witnessed a sharp rebound in morning trade on Monday, December 23. Sensex opened at 78,488.64, up from its previous close of 78,041.59, and surged 877 points, reaching 78,918.12, a gain of over 1%. Similarly, Nifty 50 opened at 23,738.20, climbed nearly …
The market regulator Securities Exchange Board of India (SEBI) has identified a case of front-running involving an equity dealer from PNB Metlife India Insurance. The dealer, Sachin Dagli, along with his associates, illicitly gained profits over a span of 3 years through unauthorised trading activities. As a result of the findings, SEBI has issued an …
On December 20, 2024, Indian benchmark indices BSE Sensex and NSE Nifty50 experienced a sharp correction, with both closing over 1% lower. The Sensex tumbled by 1,176.46 points, or 1.49%, to settle at 78,041.59 after trading in the range of 79,587.15 to 77,874.59. Similarly, the Nifty50 ended the day down by 364.20 points, or 1.52%, …
The fiscal year 2024 marked another milestone for India’s States in managing their finances effectively. By maintaining the gross fiscal deficit (GFD) at 2.9% of GDP, they not only adhered to the Fiscal Responsibility Legislation limit of 3% but also displayed resilience amidst economic pressures. However, challenges such as debt reduction, subsidy rationalisation, and reforms …
In a recent board meeting on December 19, the capital market regulator, the Securities and Exchange Board of India (SEBI) announced key proposals designed to safeguard the interests of mutual fund unitholders, particularly in the context of New Fund Offers (NFOs). NFOs are events where a fund house offers units of a new mutual fund …
On December 19, 2024, the BSE Sensex and NSE Nifty50 experienced significant losses, both dropping over 1%. The decline followed hawkish remarks from US Federal Reserve Chairman Jerome Powell, which triggered a global market sell-off. The BSE Sensex ended the day 964.15 points, or 1.20%, lower at 79,218.05. During the session, it fluctuated between 79,516.17 …
India’s trade deficit soared to a staggering $37.8 billion in November, marking an all-time high. A key factor behind this deficit was a four-fold rise in gold imports, which jumped to $14.8 billion from just $3.44 billion a year earlier. However, news reports suggest this surge may not entirely reflect reality, pointing to potential double …
On December 19, 2024, the Indian stock market witnessed a sharp decline, with both the Nifty 50 and Sensex opening in the red. Thanks to the negative global cues, particularly from the United States, and broader concerns surrounding economic policies and interest rate cuts, which resulted in the Indian stock market’s poor performance. Here’s a …
