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Rupee falls below 72 mark against US dollar on fund outflows
The rupee traded in a range of 71.93 to 72.05 to te US dollar in the early session. A strong dollar in the overseas markets and continued foreign fund outflows weighed on the domestic currency, according to forex traders.
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India Inc looks to govt for stimulus, but fiscal space limited as revenue falters
The emerging consensus within India Inc. on the need for a government-led stimulus notwithstanding, the Centre has limited fiscal space given the lower tax collections. The Budget was a missed opportunity in terms of signalling reforms
Settle Rs 195-crore dues with HUDCO in four weeks: NCLAT tells Vikram Bakshi
While Bakshi has paid around Rs 72 crore out of his total dues, HUDCO counsel Rohit Sharma said the state-owned entity is seeking Rs 141 crore more from the former McDonald’s promoter.
Can’t attach 63 moons’ assets under MPID Act: Bombay HC
63 moons had approached the HC against the state government’s notification to attach its assets under the Act, saying that NSEL was a commodities exchange for trading between buyers and sellers and not a deposit-taking entity.
Renewable energy status to ocean energy gets MNRE nod
As on date, India does not have any installed ocean energy capacit, according to a government official.
Non-payment of dues: Air India’s fuel supply stopped at six airports
The airports where the fuel supply was stopped by state-owned OMCs at around 4 pm are Cochin, Visakhapatnam, Mohali, Ranchi, Pune and Patna, an official of the national carrier said.
Oxytocin ban: Supreme Court raises more questions, refers matter to larger bench
Health Ministry in April 2018 notified a ban on private firms from manufacturing and selling oxytocin.
Tax holiday only for startups with turnover up to Rs 25 crore: CBDT
As specified in Section 80-IAC of the Income Tax Act, 1961, these startups will receive deduction for “100 per cent of income” for three out of seven years from the year of its incorporation, the Board said in a statement.
Investor sentiment dips as stimulus package hope fades
According to the minutes of monetary policy committee released on Wednesday, RBI Governor Shaktikanta Das had said economic activity has shown signs of further weakening since the last MPC meeting in June 2019.
Rupee drops 4.25 per cent in three weeks, Reserve Bank keeps off
While the Rupee lost 4.25 per cent against the dollar over the last three weeks, only two major emerging economies saw their currencies decline more than that.
Amazon picks up 49 per cent in Future Retail promoter
The deal comes barely over a year after another US retail giant Walmart picked up controlling stake in Flipkart. Walmart purchased majority stake in Flipkart for $16 billion.
Tax dept says only startups with turnover of up to Rs 25 crore eligible for tax holiday
"Since the intention was to support the small startup, the turnover limit of Rs 25 crore was considered reasonable for granting profit linking deduction," the Central Board of Direct Taxes (CBDT) said in a statement.
Setback for Air India as oil companies stop fuel supply at six airports
At around 4 pm today, state-owned OMCs stopped the fuel supply at Cochin, Visakhapatnam, Mohali, Ranchi, Pune and Mohali, another official of the national carrier said.
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