ECONOMY & NATION


Parsa Venkateshwar Rao Jr (The Leaflet) 23 May 2022
The Supreme Court’s judgment last week in Union of India versus Mohit Minerals Pvt Ltd Through Director underscores the gap between the GST Council’s purely consultative mandate and the reality in which the states have willingly abdicated their right to tax in favour of an artificial cabal,...

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Moneylife Digital Team 21 May 2022
Paying heed to anger among common people over increased fuel prices, the Union government on Saturday decided to reduce excise duty on petrol by Rs8 per litre and on diesel by Rs6 per litre. Further the government will also give Rs200 per cylinder subsidy for Ujjwala Yojana beneficiaries for...

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The CBI on Saturday launched a search operation on brokers at over ten locations in connection with the National Stock Exchange (NSE) co-location scam involving the financial institution's former MD and CEO Chitra Ramkrishna and the ex-Group Operating Officer Anand...

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The Delhi High Court on Friday sought the response of the Central Bureau of Investigation (CBI) on the bail application of National Stock Exchange's (NSE) former chief Chitra Ramkrishna, who was arrested in connection with the NSE co-location (Colo) scam case.   Seeking the response...

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The enforcement directorate (ED) on Friday said that it has attached properties worth several crores of rupees belonging to some companies in connection with a money laundering case against PACL India Ltd.   While the attached immovable assets are in the form of land ad-measuring...

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Against the backdrop of more than 33 lakh cheque bounce cases which burdens the judicial docket, the Supreme Court on Thursday gave green signal to a pilot study to set up special courts headed by retired judicial officers exclusively to deal with these cases.   A bench of Justices L....

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The Supreme Court on Thursday dismissed review petitions filed on behalf of Cyrus Investments Pvt Ltd and Sterling Investments Pvt Ltd seeking review of the apex court's March 2021 judgement upholding Tata group's decision to remove Cyrus Mistry as executive chairman of Tata Sons.   A...

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The Supreme Court on Thursday ruled that GST council's recommendations are not binding on the Centre and state governments.   A bench headed by justice DY Chandrachud said GST council recommendations only have a persuasive value as India is a cooperative federalism, and the Centre and...

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Bank employees are again on the warpath with several major unions of different banks threatening to go on a one- or two-day strike in May-end, activists said here on Thursday.   For starters, Central Bank of India staffers shall strike work on 30-31 May to protest against large-scale...

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Moneylife Digital Team 19 May 2022
Expecting the retail inflation to average at a nine-year high of 6.9% in FY22-23, India Ratings and Research (Ind-Ra) says the Reserve Bank of India (RBI) will increase the policy rate by 75bps (basis points) at least in the rest of FY22-23.   According to the rating agency, the hike...

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Edtech platform Vedantu has laid off 424 more employees, nearly 7 per cent of its workforce, as the online education space shrinks in the country.   "There is no easy way to say this but I am truly sorry. Out of 5900 Vedans (employees), 424 of our fellow teammates i.e about 7 per cent...

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The Supreme Court on Tuesday disapproved of the Centre's practice to conduct additional verification of members chosen for the income-tax appellate tribunal (ITAT), despite recommendation for the appointment by the search and selection committee (SCSC).   A bench of justice DY...

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National Stock Exchange's (NSE) former head Chitra Ramkrishna on Wednesday approached the Delhi High Court (HC) for bail, following the denial of her plea by the trial court.   However, the bench of justice Talwant Singh recused himself from hearing her plea.   On 12th May,...

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Pollution was responsible for nine million deaths in 2019 - equivalent to one in six deaths worldwide - and India leads with nearly 2.4 million deaths, according to a study published on Wednesday in The Lancet Planetary Health.   Of the nearly 2.4 million deaths in 2019, air...

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The Supreme Court on Tuesday agreed to list a plea by SFIO (serious fraud investigation office) challenging a Delhi High Court (HC) order, which stayed the investigation into companies related to the Sahara group.   A plea by SFIO said: "The petitioner SFIO has filed the captioned...

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The Central Bureau of Investigation (CBI) is conducting raids at nine locations belonging to Congress leader Karti Chidambaram and his father, former Union minister P Chidambaram in connection with a fresh case of visas issued to Chinese nationals for illegal...

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India's wholesale inflation, gauged by the Wholesale Price Index (WPI) , rose to 15.08% in April from 14.55% in March, official data showed.   The WPI inflation was 10.74% a year ago.   Reportedly, WPI has been in double digits for over a year now.   The rate of...

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Tech billionaire Elon Musk on Tuesday said that the $44 billion Twitter deal "cannot move forward" until the micro-blogging site's CEO Parag Agrawal proves the bot numbers.   In a series of tweets, Musk mentioned that the CEO publicly refused to show proof of less than 5 per cent of...

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Moneylife Digital Team 16 May 2022
Over the past two fiscals, the COVID-19 pandemic has changed the dynamics of many an industry. The passenger vehicles segment is one such. During the past fiscal, passenger cars priced Rs10 lakh (Rs1 million) and above sold five times faster than the cars in the lower price segment, says a...

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The Adani family, through an offshore special purpose vehicle (SPV), announced that it had entered into definitive agreements for the acquisition of Switzerland-based Holcim Ltd's entire stake in two of Indias leading cement companies -Ambuja Cements Ltd and ACC Ltd.   Holcim, through...

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