Author: Navisha Joshi

India’s defense imports have reduced by around 21% in a short period of time, over the past four to five years, says Prime Minister Narendra Modi at Naval Innovation and Indigenization Organization (NIIO) seminar. Prime Minister Narendra Modi stated on Monday that in the last four to five years, India’s defense imports have reduced by nearly 21 percent. He added that India is rapidly transitioning from the world’s largest defense importer to a major exporter. “Our defense exports have increased seven times in the last eight years. Very recently, our countrymen were filled with pride when they came to know…

The Finance Ministry notified the Parliament on Monday that the remaining Goods and Services Tax (GST) Compensation dues to States now totals Rs. 35,266 crores. On Monday, the Finance Ministry informed the Parliament that the outstanding GST Compensation owed to states has now amounted to Rs. 35,266 crores. These dues would be paid for from GST Compensation Cess collections, whose levy has been prolonged till March 2026. The Goods and Services Tax cess is paid on intra-state and inter-state supply of goods or services to compensate states for revenue loss caused by the implementation of the GST in India. The…

Tata Steel CEO Narendran recently stated that the company is planning to invest Rs. 8,500 crores and Rs. 3,500 crores on the company’s operations in India and Europe respectively. Tata Steel is an Indian multinational steel making company of the Tata Group. The company has decided to invest Rs. 12,000 crores in their operations pertaining to the regions of India and Europe. The capital expenditure (capex) would be divided as Rs. 8,500 crores for India and Rs. 3,500 for Europe. The CEO T V Narendran revealed the company’s plans for financial year of 2024 to the PTI in an interview…

The imposition of lockdowns in several parts of the country have caused a reduction in industrial activity in China. Experts say that the manufacturing giant may not achieve it’s target growth rate of 5.5% (FY22) this year. China experienced a slow paced economic growth in the second quarter of 2022 due to the imposition of lockdowns throughout the country. The re-outbreak of Covid-19 badly affected the nation’s economy, and the arrival of the highly- contagious BA.5 variant became a threat. A worldwide recession approaching added further pressure onto the ‘factory of the world’. PRC’s Gross Domestic Product increased by a…

Tata Motors, the Indian Multinational Automotive company of the Tata group has hired McKinsey & Co. to reorganize their Commercial Vehicle business. The global management firm is expected to increase the automotive agency’s profitability without making any changes to their market shares. Tata Motors is the country’s largest CV producer and supplier in the country. But the company experienced weak performance in terms of bottom line in the past 2 years due to a discount war with competitors. Therefore, the company hired McKinsey & Co. for a year long basis to help them overcome their financial backlogs. More about the…

The widely known Dolo- 650 tablet makers were recently accused of malpractices by the CBDT (Central Board of Direct Taxes) of indulging in “unethical practices”. Micro Labs Ltd., the company that produces the drug, allegedly supplied freebies worth approximately Rs. 1000 Crores to doctors. The freebies comprised of gifts, travel expenditures, etc. and were given in exchange for promotion of the company’s products. The Income Tax Department had raided 36 different production units of Micro Labs Ltd. Spread across nine states on 6th July 2022. Post the raid, several allegations were made by the CBDT against the Bengaluru based company.…

The rupee weakened to 79.62 to the dollar, hitting a lifetime low on Tuesday, while the dollar rose further against major currencies. Foreign Exchange experts have claimed that there is a good possibility of the Rupee weakening to the key level of 80 to the dollar soon. This prediction was made considering how the Indian Rupee’s yield curve has been downward sloping for three days straight. The high inflation rates worldwide, nations’ fleet to safe haven assets , the oil crisis brought in due to the Russia- Ukraine conflict, hiked interest rates, and the fearful possibility of an upcoming worldwide…

Musk’s withdrawal from the $44 billion twitter buyout deal, twitters non- disclosure of bots and fake accounts, drop in Twitter’s stock prices by 11%, Twitter suing Musk: the Musk- Twitter Saga is taking some dire turns. It all started in the April of 2022 when the richest man on Earth and also one of the most followed twitter users, Elon Musk proposed a $44 billion bid to purchase Twitter Inc. Musk offered to buy all the shares of Twitter for $54.20 each which was around $10 more than its then trading price per share. Upon acquiring ownership, he had plans…

A $18 trillion wipe-out from the markets along with indices showing downgrades to be higher than upgrades have forced investors into despondency. Consumers and investors alike anxiously await to see if the markets prove to be bullish or not, owing to a possible worldwide recession approaching. When an economy heads towards recession, investors tend to commence worrying about falling stock prices which will in turn impact their portfolios. Therefore, despite the markets nearing all-time highs, due to visible crises and downfalls, stock market traders are experiencing gloomy sentiments. Wall Street analysts have argued that large capital companies are soon to…