The rise in input costs and moderation in urban consumption slowed down corporate performance in the quarter ended December 2024 with companies listed on the stock exchanges reporting a decline in growth in profits and sales, reflecting the challenging business environment. India Inc registered a growth of 14 per cent in its net profit at Rs 3.37 lakh crore in the quarter ended December 2024, slower than 16.6 per cent (Rs 2.96 lakh crore) witnessed in the year-ago quarter, says a study.
Ananya Mehta
8th Pay Commission Salary Pay Matrix: Prior to the 2025 budget, Prime Minister Narendra Modi’s Union Government announced the establishment of the 8th Pay Commission. This action will update pension plans for retirees and adjust the pay of all central government employees, including those in the armed forces. On January 16, 2025, Union Minister Ashwini Vaishnaw affirmed the commission’s establishment and declared that its recommendations will become operative on January 1, 2026. The recommendations of the 7th Pay Commission, which went into effect on January 1, 2016, are currently the basis for salaries and pensions. The Unified Pension Scheme (UPS)…
India and the US on Monday committed to further improving bilateral ties, exploring alternate mechanisms for funding renewable energy and actively pursuing the G20 agenda which includes strengthening MDBs and taking coordinated action to deal with climate change. Several issues, including climate action, rising indebtedness in low and middle income countries and digital public infrastructure, figured during a bilateral meeting between Finance Minister Nirmala Sitharaman and US Treasury Secretary Janet Yellen held on the sidelines of the G20 meeting of Finance Ministers and Central Bank Governors.
On January 16, 2025, Prime Minister Narendra Modi’s Union Cabinet gave its approval for the establishment of the 8th Pay Commission. The action, which was taken only days before the Delhi Assembly elections, is expected to raise public sector employees’ salaries. Prime Minister Modi expressed the government’s support for its employees on X (previously Twitter), stating “We are all proud of the efforts of all Government employees, who work to build a Viksit Bharat. The Cabinet’s decision on the 8th Pay Commission will improve quality of life and give a boost to consumption.” We are all proud of the efforts…
Nearly seven years after the Reserve Bank of India cancelled Sahara India Investment Corporation’s (SIIC) registration to carry out the business of an NBFC, the Securities and Exchange Board of India on Tuesday declared that it was not ‘fit and proper’ to run the mutual fund business. Among the three big regulators, the Insurance Regulatory and Development Authority of India (IRDA) is yet to intervene to stop the Sahara Group from running their insurance business. On Tuesday Sebi cancelled Sahara Asset Management Company’s (AMC) certificate of registration with immediate effect and granted five months to transfer the firm’s activities to…
A notice concerning possible action from HM Revenue and Customs has been sent to anyone with a bank balance of £11,600 or more. According to a personal financial expert, many savers may discover that they must pay taxes because of interest that has accumulated on their accounts. “The point at which a nest egg is liable for tax depends on the interest rate applied to the account – and also sometimes on how the tax is applied (monthly or annually) – so savers with more attractive savings rates might find they become liable to a tax payment at a much…
Institutional investments in retail real estate jumped over six fold to USD 492 million in 2022, as businesses in shopping malls revived strongly post the Covid pandemic, according to Colliers India. In 2021, the retail real estate had attracted only USD 77 million institutional investments because of an adverse impact of the Covid pandemic on the businesses in shopping malls. Overall, Colliers said that the institutional investments in the Indian real estate sector grew 20 per cent in 2022 to touch USD 4.9 billion from USD 4.08 billion in the previous year. Alternate asset classes, which includes data centres, received…
TCS Salary Hike: According to media sources, the IT major’s yearly pay would rise by up to 8% starting in April 2025 for the fiscal year 2025–2026. Employees at the company, however, are nonetheless dissatisfied and worried about the declining rates of raises. Salary increase at TCS: According to the Economic Times, which cited persons familiar with the matter, TCS, the biggest IT company in India, plans to raise its employees’ yearly salaries by 4 to 8% for the fiscal year 2025–2026. According to the news source, the reimbursements are anticipated to begin in April 2025. Additionally, Tata Consultancy Services…
Domestic stock markets broke out of a week-long consolidation on Tuesday, surging nearly 1.5 per cent and reinforcing the recovery momentum. The BSE Sensex jumped by 1,131 points to regain the 75,000 level at 75,301.26 and the NSE Nifty index gained 325 points to 22,834.30 in bargain hunting at cheap valuations amid positive global cues. The broader market also remained bullish with Mid-cap Index rising 2.10 per cent and the Small-cap Index soaring 2.73 per cent. The rally was led by sectors like real estate, auto, capital goods, consumer durables, power and banking.