India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
Pune: The restaurant and hoteliers' association in the city said continuous hike in taxes on bars and restaurants has made it difficult for them to operate, forcing many small establishments to consider shutting down their business.Three tax hikes in a year on bars and restaurants in the state have already led to an increase in black market sales or smuggling of liquor from other states, Pune Restaurant and Hoteliers Association (PRAHA) said.The association has given a state-wide dry day call on Monday to protest the govt's taxation policy. More than 4,000 permit rooms and bars in Pune and Pimpri Chinchwad will participate in the strike."In Maharashtra, due to service tax and VAT imposed by the central and state govts, along with excise duties, customers are being charged excessively. For a bottle that costs Rs 100 in the market, the customer ends up paying Rs 300 or more in restaurants and permit rooms. This burden has resulted in a drastic decline in customer footfall," said Ganesh Shetty, president, PRAHA."Taxes have constantly been increasing for the industry. It is becoming unaffordable for permit room owners like us to operate. Eighty per cent of the premises are on rent, and we can't keep revising prices on the menu. The high prices will drive away customers from bars. We urge the govt to reconsider these high taxes," said Vishwanath Poojari, who has been running Katraj Junction Family Resto Bar for the last 19 years."Sales usually get impacted negatively when we increase prices. We have a staff of over 100 people, and this puts further pressure on staff expenses and other overheads. Business has become difficult for us," said Jawahar Chorge, owner, Nisarg Seafood at Erandwane.The association is protesting against VAT on liquor, which has been hiked from 5% to 10%, a 15% increase in annual licence fees, and a 60% spike in excise duty in a span of one year.The changing tax structures have led to frequent menu changes and supply disruption. "This changing policy has caused lots of disruption in customer retention, and business has been impacted. We are losing business to home consumption and other states. There is business instability and no predictability due to frequent policy changes," said Ajinkya Udane, Pune co-chapter head, National Restaurant Association of India, which has also decided to support the strike.All regional associations in the state will participate in the strike, and members across Mumbai, Pune, Nashik, Nagpur, and Konkan have confirmed full participation.The hospitality industry in Maharashtra is already reeling under operational and regulatory challenges, said Jimmy Shaw, president, Hotel and Restaurant Association (Western India). "The recent hike in excise duty, coupled with the additional 10 per cent VAT on FL3 liquor sales and a 15 per cent increase in annual licence fee, is not just excessive; it is punitive. We request the govt to review this decision in the interest of economic stability, employment, and ease of doing business," he added.Pune: The restaurant and hoteliers' association in the city said continuous hike in taxes on bars and restaurants has made it difficult for them to operate, forcing many small establishments to consider shutting down their business.Three tax hikes in a year on bars and restaurants in the state have already led to an increase in black market sales or smuggling of liquor from other states, Pune Restaurant and Hoteliers Association (PRAHA) said.The association has given a state-wide dry day call on Monday to protest the govt's taxation policy. More than 4,000 permit rooms and bars in Pune and Pimpri Chinchwad will participate in the strike."In Maharashtra, due to service tax and VAT imposed by the central and state govts, along with excise duties, customers are being charged excessively. For a bottle that costs Rs 100 in the market, the customer ends up paying Rs 300 or more in restaurants and permit rooms. This burden has resulted in a drastic decline in customer footfall," said Ganesh Shetty, president, PRAHA."Taxes have constantly been increasing for the industry. It is becoming unaffordable for permit room owners like us to operate. Eighty per cent of the premises are on rent, and we can't keep revising prices on the menu. The high prices will drive away customers from bars. We urge the govt to reconsider these high taxes," said Vishwanath Poojari, who has been running Katraj Junction Family Resto Bar for the last 19 years."Sales usually get impacted negatively when we increase prices. We have a staff of over 100 people, and this puts further pressure on staff expenses and other overheads. Business has become difficult for us," said Jawahar Chorge, owner, Nisarg Seafood at Erandwane.The association is protesting against VAT on liquor, which has been hiked from 5% to 10%, a 15% increase in annual licence fees, and a 60% spike in excise duty in a span of one year.The changing tax structures have led to frequent menu changes and supply disruption. "This changing policy has caused lots of disruption in customer retention, and business has been impacted. We are losing business to home consumption and other states. There is business instability and no predictability due to frequent policy changes," said Ajinkya Udane, Pune co-chapter head, National Restaurant Association of India, which has also decided to support the strike.All regional associations in the state will participate in the strike, and members across Mumbai, Pune, Nashik, Nagpur, and Konkan have confirmed full participation.The hospitality industry in Maharashtra is already reeling under operational and regulatory challenges, said Jimmy Shaw, president, Hotel and Restaurant Association (Western India). "The recent hike in excise duty, coupled with the additional 10 per cent VAT on FL3 liquor sales and a 15 per cent increase in annual licence fee, is not just excessive; it is punitive. We request the govt to review this decision in the interest of economic stability, employment, and ease of doing business," he added.
New Delhi [India], January 8 (ANI): The upcoming union budget 2025-26 should focus on giving personal tax relief to common taxpayers by raising the basic exemption limit in the new tax regime from Rs 3 lakhs to Rs5 lakhs and reducing tax rates, suggests global consulting and professional services firm Ernst & Young India (EY India). EY India also asks for deferring tax deduction at source (TDS) on PF interest rate (above 2.5 lakhs) until the withdrawal stage to reduce compliance burden. In the previous budget TDS rate rationalization was undertaken to a certain extent. To further simplify th ...Read More >
Mumbai, June 2 (SocialNews.XYZ) Shares of Piccadily Agro Industries Limited, the Haryana-based distillery best known for its award-winning 'Indri' single malt whisky, have nosedived more than 40 per cent so far this year. On Monday, the company's share price further dropped by 1.67 per cent, or Rs 9.70, during the intra-day trade, adding to the downward momentum. While the shares had shown some short-term recovery -- rising 1.82 per cent over the past five trading days and gaining 7.31 per cent over the last month -- the longer-term picture remains bleak. In the past six months, the stock h ...Read More >
Guwahati, Jun 5 (PTI) The Assam Congress on Thursday demanded a CBI inquiry into alleged illegal stone mining in Karbi Anglong district in violation of a Supreme Court order. Addressing a press conference here, former Rajya Sabha member Ripun Bora also alleged that Karbi Anglong Autonomous Council Chief Executive Member Tuliram Ronghang was allowing illegal activities in the district in nexus with Chief Minister Himanta Biswa Sarma. "Large-scale illegal stone mining is taking place in the hills of Karbi Anglong in violation of the Supreme Court order. The SC had banned mining in and around K ...Read More >
Ahmedabad, June 8 (SocialNews.XYZ) The MSC IRINA, recognised as the world's largest container ship by TEU (Twenty-foot Equivalent Unit) capacity, is set to dock at the Adani Group's Vizhinjam International Seaport on Monday and will be berthed till Tuesday. The monumental arrival marks a significant milestone for the seaport, which was dedicated to the nation by Prime Minister Narendra Modi on May 2. The MSC IRINA boasts an impressive capacity of 24,346 TEUs, making it a formidable player in global shipping. With a length of 399.9 metres and a width of 61.3 metres, the vessel is approximate ...Read More >
Mumbai: The death toll in Monday's BEST bus crash rose to seven and the number of injured to 42 even as the driver, Sanjay More, booked for culpable homicide not amounting to murder, claimed he had noticed a spark and mistakenly accelerated the bus instead of applying brakes. Seeking More's custody, police said they want to investigate if he intentionally used the vehicle as a weapon. The bus on Route 332 had accelerated on a congested 200m stretch near Kurla station hitting vehicles and pedestr ...Read More >
Srinagar, Jan 8 (UNI) In a significant breakthrough, Srinagar Police dismantled a cross-border drug trafficking network, seizing 8 kilograms of heroin valued at Rs 30-32 crore in the international market, and arresting two key operatives. Senior Superintendent of Police (SSP), Srinagar, Imtiyaz Hussain Mir, revealed that initial investigations confirmed the narcotics were smuggled from Pakistan as part of a cross-border trafficking syndicate. The SSP detailed the operation, saying that a team from Police Post Qamarwari intercepted a vehicle at Barthana Crossing during a routine checkpoint. ...Read More >
New Delhi, Jun 5 (PTI) Fintech firm BimaPay Finsure on Thursday said it has entered into corporate insurance financing and aims for Rs 20 crore in premiums in 2025-26. Launching the pilot phase with insurance partners, BimaPay said the initiative will allow businesses to pay premiums in easy equated monthly instalments (EMIs) instead of bearing the burden of full upfront costs. Also Read | Who Is Pinaki Misra? From Age to Family Background and Net Worth, Here's All About BJD Leader With Whom Mahua Moitra Reportedly Married. The company aims to finance over Rs 20 crore worth of premiums by t ...Read More >
Hyderabad: In a significant boost for 'Make in India' and 'Atmanirbharta' in the aerospace and defence sector, and Hyderabad's growing stature as a global aerospace hub, the complete fuselage of the Rafale fighter jet will now be made in India at Hyderabad. This move marks the first time that these Rafale components will be manufactured outside France for the Indian as well as global markets.French aerospace major Dassault Aviation has signed four production transfer agreements with Tata Advanced Systems Ltd (TASL) for manufacturing key sections of the Rafale fighter jet, including the lateral ...Read More >
MUMBAI: A directive from the state prohibiting the sale of fish at Sassoon Docks, one of Mumbai's oldest and most active fish landing sites, has stirred the waters for the fishing community, especially Kolis at Colaba and Cuffe Parade. The ban on fish sales, recently imposed by the Maharashtra state fisheries department, is a first at the dock and, according to the Koli community, oversteps the annual ban on fishing during the monsoon from June 1 to July 31. While the community acknowledges the need to prohibit fishing during the monsoon months, as it protects marine biodiversity during the b ...Read More >
Guwahati, June 26: The Centre has reviewed key infrastructure projects in of Sikkim, Nagaland, Assam, and Arunachal Pradesh, reaffirming its commitment to boosting regional connectivity, power generation, and investment climate in the region. The high-level meeting, chaired by Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), Amardeep Singh Bhatia, brought together senior officials from various Central ministries, state governments, and project proponents. The session, on Thursday, was facilitated by the Project Monitoring Group (PMG) to address bottlenecks th ...Read More >
Sivakarthikeyan's Amaran has emerged as his biggest box-office success to date, surpassing the Rs 300-crore mark at the worldwide box office collection.Shiv Karthikeyan and Sai Pallavi marked a milestone in film industry through the movie Amaran. The film joins an elite club as the ninth Tamil movie to achieve this milestone, following hits like Rajinikanth's Enthiran, Kabali, 2.0, Jailer, along with Biigilmovie, Varisu, Leo, and The GOAT. Featuring Sivakarthikeyan as Major Mukund Varadarajan, alongside Sai Pallavi, Bhuvan Arora, and Rahul Bose, Amaran draws inspiration from true military st ...Read More >
Hyderabad (Telangana) [India], December 26 (ANI): A meeting between Telangana Chief Minister Revanth Reddy and directors, producers, and actors from the Tollywood industry is underway at Telangana State Police Command and Control Centre at Banjara Hills in Hyderabad. The delegation of influential people from Tollywood is led by Telangana Film Development Corporation (FDC) chairman Dil Raju. Among other attendees are actors like Nagarjuna, Varun Tej, Sai Dharam Tej, Kalyan Ram, Shiva Balaji, Adavi Sesh, Nithin, and Venkatesh. Also Read | Agra Shocker: Posing as RAW Agent, Gym Trainer Rapes Ca ...Read More >
NEW DELHI: Former Delhi minister Satyendar Jain on Friday appeared before the Anti-Corruption Branch (ACB) for questioning in connection with an alleged corruption case concerning the construction of classrooms in government schools. Jain had been summoned by the ACB to appear for questioning. Before heading to the ACB office, he maintained that the previous AAP government had prioritised education in the city, unlike the present BJP-led administration. "The previous AAP government in the national capital worked towards improving the city's education, while the current BJP government is only ...Read More >
Mumbai, June 27 (SocialNews.XYZ) Bollywood actor Ayushmann Khurrana joins names such as Kamal Haasan, Ariana Grande, and Jeremy Strong at the Academy of Motion Picture Arts and Sciences this year. Ayushmann along with names such as Kamal Haasan Naomi Ackie, Gillian Anderson, Branford Marsalis, Conan O'Brien, Jimmy Kimmel, Stephen Graham, Jodie Comer and Jason Momoa are among 534 individuals who were invited to join the Academy of Motion Picture Arts & Sciences on June 26. "We are thrilled to invite this esteemed class of artists, technologists, and professionals to join the Academy," said Ac ...Read More >
Shiva, recently released from jail after nine months, celebrated by dancing outside the gate, captivating police and a lawyer. He was imprisoned for assault and failed to pay a fine. An NGO aided him with legal support, and he vowed to avoid crime in the future. A man broke into a dance right outside the jail gate to celebrate his release after nine months of imprisonment. Impressed by his unique style of celebration, senior police officials and a lawyer were seen in a viral video sharing his happy moment and applauding his performance. According to an NDTV report, the man has been identifi ...Read More >
Given the strong subscription response, Ganesh Infraworld's latest GMP stands at Rs 73, indicating an upside potential of 88% above the upper price band.The SME initial public offering (IPO) of Ganesh Infraworld received a strong response from investors with an overall subscription of 103.2 times by 12:19 pm on the final day of the bidding process. The IPO will close on December 3. The company aims to raise Rs 98.6 crore through the SME IPO, which is a fresh equity sale of 1.18 crore shares, and list the shares on the NSE SME platform. The net proceeds from the public offer will be used for ...Read More >
India's housing market is booming, with 2024 projected to be the best year yet. Over 300,000 homes worth ₹510,000 crore are expected to be sold across the top seven cities, driven by economic growth and infrastructure improvements. Sales in the first nine months already reached nearly 230,000 homes, indicating continued robust demand and rising capital values.India's housing property market continues to remain on a strong footing, with the year 2024 expected to end as the best year ever in term ...Read More >
The Delhi BJP also shared a rap song "Delhi ka millionaire" alleging corruption against the party's top leadership. In a recently-released video, the Delhi BJP has given a tour of the luxurious bungalow of AAP leader Arvind Kejriwal, where he lived while serving as the Chief Minister of the state. The party also shared a rap song "Delhi ka millionaire" alleging corruption against the party's top leadership. Delhi BJP chief Virendra Sachdeva, who shared the video on X, called the Civil Lines bu ...Read More >
Mumbai, Jun 5 (PTI) Maharashtra Chief Minister Devendra Fadnavis on Thursday inaugurated the final 76-km-long stretch of the Samruddhi Mahamarg, making the entire 701-km Mumbai-Nagpur corridor fully functional and bringing down the travel time between the two cities to 8 hours from around 18 hours. Fadnavis described the Mumbai-Nagpur Samruddhi Mahamarg as an "engineering marvel" and said this "economic corridor" would play a vital role in the state's development. Fadnavis said by connecting the expressway with the proposed Vadhvan port, they are planning to develop it as an "economic corrid ...Read More >
NEW DELHI: Former head of Air India and chairman of the Railway Board Ashwani Lohani is the new Prime Ministers Museum and Library (PMML) director. The official order for his appointment was issued on Wednesday. A 1980-batch officer of the Indian Railway Service of Mechanical Engineering (IRSME), Lohani is known for turning around various organisations during his illustrious career. Following his retirement from IRSME service, he joined the GMR Group as the CEO. According to the order dated June 4, his appointment to the post of director, Prime Ministers Museum and Library in the rank and pa ...Read More >
For investors, this means that any profits made from selling cryptocurrencies will now be subject to capital gains tax.Source : Ewan Kennedy/Unsplash The Income Tax Appellate Tribunal (ITAT) in Jodhpur has provided much-needed clarity on the taxation of cryptocurrencies in India. The ruling recognises cryptocurrencies as capital assets, setting a framework for how profits from their sale are taxed, especially for transactions made before the Government introduced specific guidelines for Virtual ...Read More >
Ranchi, May 21 (SocialNews.XYZ) The Rs 100-crore liquor scam in Jharkhand appears to be linked with a similar racket in neighbouring Chhattisgarh, with central agencies such as the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) likely to expand their probe into the matter. On Tuesday, the Anti-Corruption Bureau (ACB) of Jharkhand arrested senior IAS officer and former Excise Secretary Vinay Chaubey and Joint Excise Commissioner Gajendra Singh in connection with the Jharkhand liquor scam. Both officers have already been named as accused in the Chhattisgarh liquor s ...Read More >
The agency has now moved a fresh plea for their remand in the court, saying the duo need to be interrogated about alleged involvement of other senior officials of NCLT in the bribery case. The CBI has approached a city court seeking custody of deputy registrar of the National Company Law Tribunal (NCLT), Mumbai bench, arrested for allegedly demanding and accepting a bribe of Rs 3 lakh from a businessman for helping to favourably settle ownership dispute of a hotel. The CBI on May 29 arrested de ...Read More >
Silchar: Assam chief minister Himanta Biswa Sarma on Friday visited the flood-ravaged districts of Hailakandi and Sribhumi in the Barak Valley. He assured affected residents of providing timely disbursement of rehabilitation grants and swift repair of damaged infrastructure.This marks Sarma's second visit to the flood-hit region within four days, underscoring the gravity of the situation. Speaking to the media in Sribhumi after inspecting multiple relief camps, the CM said, "Flood-related problems may persist till July. I will return before Durga Puja to ensure that roads and infrastructure ar ...Read More >
Thrissur (Kerala) [India], June 7 (ANI): Union Minister of State for Tourism & Petroleum and Natural Gas, Suresh Gopi, met actor Shine Tom Chacko at a private hospital in Thrissur. Malayalam actor Chacko was admitted to the hospital after he met with a road accident in Madurai, Tamil Nadu. Chacko and his family were in a car accident, in which the actor lost his father. South India International Movies Awards (SIIMA) took to X and extended condolences to Chacko and his family. SIIMA wrote, 'Malayalam actor Shine Tom Chacko was injured in a tragic car accident near Dharmapuri, Tamil Nadu. T ...Read More >
Lucknow: Chief Minister Yogi Adityanath on Saturday directed officials to act against shell companies and fake firms that are deriving undue benefits against the rules.He said that such acts were an attempt to misuse the facilities meant for genuine traders and the matter should be dealt with seriously.The CM, while conducting a high-level review of the state tax department, directed officials to ensure transparency in tax collection and adopt a policy of technological efficiency and strict enforcement. Calling the act of such companies 'unforgivable', Yogi said, "Tax evasion is a national cri ...Read More >
Gurgaon: Two days after a law student died and his friend suffered critical injuries when a car knocked them down as they stood near railing on the service lane of Delhi-Jaipur highway in the early hours of Tuesday, a civil engineer was arrested on Thursday.Mohit (31), an employee of a private company in the city, told police that he got drowsy while driving. He is staying at a PG facility in Sector 14.The student who died, Harsh Singhal (25), was a resident of Om Nagar colony. His friend Abhishek Kumar (23), who is from Shanti Nagar in Sector 11, is undergoing treatment at a private hospital ...Read More >
New Delhi: Delhi Police on Thursday destroyed over 1,629.4 kg of seized illicit drugs valued at Rs 3,274.5 crore in the international market. The destruction marked the culmination of the Nasha Mukt Bharat Pakhwada (Drug-Free India Fortnight), observed from June 12 to June 26.The destruction of the narcotics was done at the Biotic Waste Solutions in Jahangirpuri and was attended by the lieutenant governor and top brass of Delhi Police. The contraband included 961.9 kg of ganja, 542.9 kg of cocain ...Read More >
JAMMU, Nov 17: Maharashtra police along with Military Intelligence and Army have arrested nine persons hailing from the border district of Rajouri for taking up jobs as security guards in different cities in Maharashtra and carrying weapons with fake licenses. Nine 12-bore rifles and 58 bullets have been recovered from their possession. Follow the Daily Excelsior channel on WhatsApp The arrests were made during a joint operation of Ahilyanagar (formerly Ahmednagar) police in Maharashtra, Southern Command and Military Intelligence on the basis of tip off that some persons from Rajouri distric ...Read More >
Hyderabad (Telangana) [India], December 26 (ANI): A meeting between Telangana Chief Minister Revanth Reddy and directors, producers, and actors from the Tollywood industry is underway at Telangana State Police Command and Control Centre at Banjara Hills in Hyderabad. The delegation of influential people from Tollywood is led by Telangana Film Development Corporation (FDC) chairman Dil Raju. Among other attendees are actors like Nagarjuna, Varun Tej, Sai Dharam Tej, Kalyan Ram, Shiva Balaji, Adavi Sesh, Nithin, and Venkatesh. Directors including Koratala Siva, Anil Ravipudi, K Raghavendra Rao ...Read More >