Tuesday, December 07, 2021

Business

Jeff Bezos' Earth Fund commits another $443 mn to boost conservation

SAN FRANCISCO: Amazon founder Jeff Bezos has pledged $443 million in grant as part of his Earth Fund to fight climate change, protect and restore nature, and advance environmental justice and economic opportunity.

Centre's fertiliser subsidy bill expected to rise 62% in FY22'

NEW DELHI: A rise in the prices of natural gas and other raw materials is expected to raise the Centre's fertiliser subsidy bill by 62 per cent to Rs 130,000 crore in FY22, Crisil Ratings said.

Rights, freedoms shouldn't be used by private biz to avoid regulation: SC

NEW DELHI:The Supreme Court on Monday observed that the court must be circumspect that rights and freedoms guaranteed under the Constitution do not become a weapon in the arsenal of private businesses to disable regulations enacted in the public interest.

India inks 4 deals with Russia, including purchase of over 6L AK-203 rifles

NEW DELHI:India and Russia inked four agreements on Monday, including a contract for procurement of over six lakh AK-203 assault rifles.

Subdued demand reduced freight rates for mining, cement, steel in Nov: Crisil

NEW DELHI: Freight rates for mining, cement, and steel have seen some corrections on-month in November as infrastructure-building activities were subdued, ratings agency Crisil said.

Delhi BJP demands VAT reduction on diesel

NEW DELHI:The Delhi unit of the BJP has demanded the reduction of Value Added Tax (VAT) on diesel as well, days after the ruling Aam Aadmi Party (AAP) government in the national capital slashed petrol prices by Rs eight per litre.

Diesel, petrol prices unchanged on Sunday

NEW DELHI:Oil marketing companies kept diesel and petrol prices unchanged across major Indian cities on Sunday.Accordingly, diesel and petrol prices in Delhi stood at Rs 86.67 per litre and Rs 95.41 per litre, respectively.

Prevent dumping of toxic wastes in India: FM to DRI

NEW DELHI:Union Finance Minister Nirmala Sitharaman on Saturday asked the Directorate of Revenue Intelligence (DRI) to prevent dumping of toxic wastes in India.

Lower oil prices to counter Omicron fears; yet rupee to remain subdued

MUMBAI:Concerns over new Covid-19 variant Omicron, as well as continued foreign fund outflows, will keep Indian rupee subdued during the upcoming week.

In a first, Pepsico's potato patent revoked by Indian authority

GANDHINAGAR:Accepting a farm activist's revocation application to revoke the varietal registration of Pepsico India Holding on potato variety FL-2027, The Protection of Plant Varieties & Farmers' Rights (PPV&FR) Authority on Friday revoked the registration, the multinational had. Even at the global level, this is the first time that the multinational had to face such a defeat.

Odisha records 64% growth in GST collection in Nov

BHUBANESWAR:Odisha has recorded 64 per cent growth in GST collection in November compared to the same month of the last fiscal, officials said on Thursday.

India's renewable growth rate accelerating faster: IEA

NEW DELHI:With India set to come out on top in terms of the rate of growth, doubling new installations compared to 2015-2020, the growth of the world's capacity to generate electricity from solar panels, wind turbines and other renewable technologies is on course to accelerate over the coming years. The year 2021 is expected to set a fresh all-time record for new installations, the IEA said on Wednesday.

November's GST collection rises to over Rs 1.31 lakh cr

NEW DELHI: India's GST collection rose on both sequential and year-on-year basis in November.The gross GST collection rose to Rs 1,31,526 crore last month, and it was the second straight month when the gross GST collection crossed Rs 1.30 lakh crore.

India's Apr-Oct fiscal deficit over 36% of FY22 target

NEW DELHI: India's April-October budgetary fiscal deficit has reached 36.3 per cent of the FY22 target.As per the data furnished by the Controller General of Accounts (CGA), the fiscal deficit -- the difference between revenue and expenditure -- for the April-October 2021-22 period stood at Rs 547,026 crore, or 36.3 per cent of the budget estimates (BE).

Fiscal Push: India's Q2FY22 GDP growth seen between 7-9%

NEW DELHI:Healthy monsoon season along with pent-up demand are expected to accelerate India's Q2FY22 GDP growth rate to over 7 per cent during Q2FY22, experts said.

No proposal to recognise Bitcoin as currency, says Sitharaman

NEW DELHI:The Centre has no proposal to recognise Bitcoin as a currency in the country, the Parliament was informed on Monday.Finance Minister Nirmala Sitharaman, in a written reply in the Lok Sabha, also said that the government does not collect data on Bitcoin transactions.

Gurugram: 46 commercial outlets sealed for operating without licence

GURUGRAM: A total of 46 commercial establishments at different places in Gurugram were sealed by the Municipal Corporation (MCG) on Monday after they were found to be running without valid trade licence, an MCG official said.

Paytm listing debacle sparks concern from investors for other IPOs

NEW DELHI:The Paytm listing debacle has sparked concern from investors and entrepreneurs, fearful that it could derail a string of expected Indian flotations that were supposed to cement the country's status as a leading destination for tech start-ups after the US and China, Financial Times reported.

Maha has maximum GST dues pending with Centre, Congress says 'stepmom treatment'

MUMBAI:Maharashtra, which contributes the highest to the Centre's GST kitty, has the maximum amount outstanding for the past two years of the Covid-19 pandemic, a RTI reply has revealed.

Single tax rate for online gaming ‘desirable’ to avoid litigation: report

An overlap on games of skill and games of chance could be the key towards a uniform tax rate for India’s nascent online gaming industry.

Tomato prices may stay high for another 2 months: Crisil

 NEW DELHI: Prices of staple vegetable tomato are likely to stay elevated for two more months, CRISIL said.Tomatoes account for 10 per cent of the total vegetable production in India.

RBI's recent norms may spike NPAs for NBFCs, says ICRA

NEW DELHI:The Reserve Bank of India's recent notification on income recognition, asset classification, and provisioning norms for banks, non-banking financial institutions, and all-India financial institutions may lead to a sharp spike in the non-performing assets (NPAs) for non-banking finance companies, ICRA said.

Future Retail says Amazon tried to browbeat CCI

NEW DELHI:Future Retail Limited (FRL) said on Sunday that it firmly believes that the Competition Commission of India (CCI) will not be intimidated by this arrogance of Amazon and will take action on its show cause notice (SCN) against Amazon in accordance with law and regulations.

Over 390 RCS-Udan air routes operational now

NEW DELHI:India has till date operationalised 395 air routes under the Regional Connectivity Scheme 'Ude Desh Ka Aam Nagrik' or RCS-Udan.Under the scheme, which was launched in 2016, airlines are provided with a 'Viability Gap Funding' to keep fares affordable and accessible.

Himachal to promote cinnamon cultivation in 5 districts

SHIMLA:Himachal Pradesh's pilot project for the cultivation of aromatic medicinal cinnamon has been a success in Una district and the government is now aiming to go for its commercial cultivation in lower elevations in five districts, state Agriculture Minister Virender Kanwar said here on Sunday.

Diesel, petrol prices unchanged since Diwali

NEW DELHI:Oil marketing companies have continued to keep prices of diesel and petrol unchanged across major Indian cities post revision of duties by the Centre and state governments on the Diwali eve.

What is an Accounting Voucher?

An accounting voucher is a record that serves as a supporting document for the entries recorded in the accounting books, and it is stamped as 'paid' once the supplier has received the payment. Payments are recorded in the appropriate ledger accounts. There are different types of accounting vouchers that we will go about in the latter part of this article.

India to allow international flights operations from Dec 15

NEW DELHI:India will allow resumption of scheduled commercial international passenger services from December 15, it was announced on Friday.

India's foreign exchange reserves rise by $289 mn

MUMBAI:India's foreign exchange reserves rose by $289 million during the week ended November 19.The Reserve Bank of India's forex reserves increased to $640.401 billion from $640.112 billion reported for the week ended November 12.

Gold Bond' VIII to be issued at Rs 4,791 per gram

NEW DELHI:The issue price for Sovereign Gold Bonds' next series has been fixed at Rs 4,791 per gram of gold.According to the Ministry of Finance, the Sovereign Gold Bond Scheme 2021-22 (Series VIII) will be opened for subscription during the period November 29 to December 3 with settlement date on December 7.

Ganja was being sold on Amazon under guise of Stevia dry leaves

NEW DELHI:The Bhind police in Madhya Pradesh said a statement on Friday that during their investigation into the supply of ganja through the Amazon e-commerce portal, it was found that besides Babu Tex, the earlier company which was supplying ganja on the Amazon e-commerce portal , six more companies were registered on Amazon, which were supplying 2 kg pack of ganja under the guise of 'Stevia dry leaves' to the same purchasers to whom Babu Tex supplied the banned substance.

Vedanta Chairman Anil Agarwal bags Asian Business Philanthropy Award 2021

NEW DELHI: Indias leading industrialist and philanthropist, Anil Agarwal, Chairman of the Vedanta Group, one of the worlds biggest Oil & Gas and Metals companies, has been bestowed with the Philanthropy Award at the Asian Business Awards 2021 for his outstanding contribution towards humanitarianism initiatives centering on healthcare, education, sanitation, skill development and sustainable livelihood.

India's GDP expected to grow by 8.5% YoY in Q2FY22: Acuite

NEW DELHI: India's Q2FY22 GDP is expected to grow by 8.5 per cent on a year-on-year (YoY) basis amid support from a favourable base, Acuite Ratings and Research said.

India's growth in digital ecosystem unusual but offers model for developing countries

NEW DELHI:Over the past five years, Indias mobile internet and digital services ecosystem has grown rapidly, owing to the pioneering efforts of large private sector players.

Tomato to fuel: Inflation batters India's middle class

NEW DELHI: From daily essentials like tomatoes, milk as well as edible oils to transport fuels, rising prices have hampered the financial health of ordinary middle class families in India.

5 Checkpoints to Clear When Opting For an HDFC Home Loan Or From Any Other Lender

Consistent increase in the prices of houses and properties has propelled many to choose the HDFC home loan or home loan option through other lenders for meeting their dream of having their own home. However, HDFC home loan or various other lenders of home loan approve the application for home loan basis their credit risk assessment of the applicant basis their repayment capacity, income, credit score etc. Higher repayment tenures of as high as 30 years clubbed with big-ticket loan amounts also make it important for many applicants to prepare themselves financially before making such commitments.

PUNJAB NEWS EXPRESS

Kushinagar-Delhi flight from Nov 26

KUSHINAGAR(UP):The first domestic flight from Kushinagar International Airport for Delhi will start from Friday.
The airport was inaugurated by Prime Minister Narendra Modi on October 20 and SpiceJet airlines will provide the air service.

'21 volumes in same case', bulky documents delay Future-Amazon hearing in SC

NEW DELHI:  The Chief Justice N.V. Ramana on Tuesday pointed to the parties in the Future-Amazon case that they have filed bulky documents in the matter -- 21 volumes in the same case -- and it causes unnecessary inconvenience, as documents are repeated. The top court has scheduled the next hearing in the matter on December 8.

DLF's rental arm raises NCDs worth Rs 1,000 cr

NEW DELHI: The rental arm of real estate developer DLF -- DLF Cyber City Developers -- on Monday raised Rs 1,000 crore through private placement of listed, secured and redeemable non-convertible debentures (NCDs).

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