Budget 2023: How is the budget prepared? Date, time, live-streaming details and FAQs you just can’t miss

21 days ago The Financial Express

Union Budget of India 2023-24: Union Finance Minister Nirmala Sitharaman will be presenting the much-awaited Union Budget 2023-2024 in Parliament in February 2023. So, we are here with some important FAQs to keep you posted on the date, time, and other important details like where to catch the live-stream of Union Budget 2023-24. The budget can be classified into two kinds – the Revenue Budget and the Capital Budget. If revenue expenditure is more than revenue receipts, then the Centre incurs a revenue deficit. Capital Budget on the other hand consists of capital receipts and capital expenditure.
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RIL Q2 profit misses estimates

Reliance Industries (RIL) on Friday missed estimates on the net profit front for the July-September quarter on the back of the newly introduced windfall profit tax which impacted the oil earnings. The consolidated net profit was flat at Rs 13,656 crore compared with Rs 13,680 crore during the same period last year. Bloomberg consensus estimates had pegged the net profit at Rs 14,456.60 crore. The gross debt as on September 30, 2022, was Rs 2.95 trillion versus Rs 2.66 trillion as on March 31, 2022. The company’s net debt was at Rs 93,253 crore as on September 30 versus Rs 34,815 crore at the end of March.

3 months ago The Financial Express

Engagement with FATF led to improvements in laws and procedures, says Pakistan after removal from grey list

Pakistan has formally responded to the FATF‘s decision to remove it from its grey list, saying the country’s engagement with the global watchdog has led to strategic improvements in its laws and procedures and made its domestic anti-terror financing and money laundering regime more resilient. The Paris-based Financial Action Task Force (FATF), the global watchdog on terror financing and money laundering, on Friday removed Pakistan from a list of countries under “increased monitoring”, also known as the “grey list”. “The engagement with the FATF has led to strategic improvements in Pakistan’s laws and procedures, making its domestic AML/CFT regime more resilient to cope with current and future challenges,” it said. FATF placed Pakistan on the grey list in June 2018 and handed it over a plan of action to fulfill as a condition to come out of the list. FATF had given Pakistan first a 27-point action plan and later another 7-point plan to comply and it fulfilled all 34 points.

3 months ago The Financial Express

Human rights, Bangladesh & the UN Human Rights Council

The media reported from New York on October 10 that the United Nations had censured 42 nations for retaliating against human rights activists and journalists. These countries had been singled out of 193 member States for condemnation- virtually blacklisting them- for retaliating against human rights activists and journalists. It was also pointed out that these countries included some of the world's worst authoritarian regimes with notoriety for extensive human rights abuses. In addition, the Secretary-General warned that "human rights defenders, women's rights advocates, environmental activists, journalists and others face arbitrary arrest, harsh prison sentences, smear campaigns, crippling fines and violent attacks." It can also decide at any time to hold a special session to address human rights violations and emergencies, at the request of one-third of the member states.

3 months ago The Financial Express

Govardhan Puja 2022: Date, puja time, muhurat, significance, and rituals

Devotees also offer prayers to the pile of grains, which symbolizes the Govardhan mountain,” said Pankaj Khanna, Chairman, Khanna Gems. Govardhan Puja MuhuratPankaj Khanna told FinancialExpress.com that according to religious texts, Govardhan Puja is conducted during the Pratipada Tithi of Kartik month. The Govardhan puja is conducted in the morning as well as the evening. Delicious food using leafy vegetables, milk, pulses, and fruits are also cooked and offered to Lord Krishna on this day,” Khanna explained. Govardhan Pooja: CelebrationKhanna further said, “Devotees perform this pooja by making hillocks of cow-dung which represents the Mount Govardhan, the mountain Krishna had lifted.

3 months ago The Financial Express

Sterling rises as Rishi Sunak becomes PM while dollar slumps

Sterling rallied on Tuesday on improved risk sentiment as Rishi Sunak became Britain’s prime minister, while the dollar dropped to a three-week low as weakening U.S. economic data tempered expectations for the pace of future U.S. rate hikes. Rishi Sunak became Britain’s third prime minister in two months on Tuesday, tasked with tackling a mounting economic crisis and a warring political party. The U.S. dollar was broadly weaker amid signs that Federal Reserve rate hikes are slowing the world’s biggest economy. YEN AND YUANThe yen firmed against the dollar after suspected Bank of Japan (BOJ) intervention on Friday and Monday. At 147.665 yen, the dollar was down from a 32-year high of 151.94 on Friday, which appeared to trigger successive bouts of BOJ intervention.

3 months ago The Financial Express

India-UK free trade talks to gather pace after a brief lull

The qualifying criteria for that visa (which applies to university students) will expand over time and will benefit Indian nationals. He cited that the UK generally follows the EU template for trade pacts, where the labour standards are an unavoidable ingredient. “In fact, the India-UK MMP specifically excludes trade in services through movement of natural persons, which it states will be part of the FTA commitments,”Anuradha noted. They aim to double bilateral trade of both goods and services to about $100 billion by 2030. The India-UK trade is dominated by services, which make up about 70% of the overall annual commerce.

3 months ago The Financial Express

India GDP to grow at 7%, inflation seen at 6.8% in FY23; RBI to hike repo rate 25-35 bps in Dec meeting

Given the conditions within India, and globally as well, CareEdge economists expect the Indian economy to grow at 7% in FY23. Global growth faces headwindsIMF projects global headline CPI inflation to climb to 8.8% in 2022 from 4.7% in 2021. Rapid monetary tightening by Central Banks and overshoot of inflation targets remain a key risk to slowing global growth, CareEdge economists noted. FY23 CPI inflation seen at 6.8%Note that while retail inflation climbed back above 7% in the previous month, wholesale inflation in India dipped to the lowest level in more than a year. CareEdge economists project FY23 CPI inflation at 6.8%.

3 months ago The Financial Express

Rishi Sunak’s election as UK PM ground-breaking milestone, says Joe Biden

The election of Indian-origin Rishi Sunak as the United Kingdom’s Prime Minister is “pretty astounding” and a “ground-breaking milestone”, United States President Joe Biden has said. Also read| Rishi Sunak to become Britain’s first Indian-origin Prime Minister“As my brother would say, Go figure! Harris is now the US vice president and the second-most powerful person in the country after him. Also read| Rishi Sunak: UK’s ex-Treasury chief gets his shot at PM jobClaiming that his dispensation had more Asian Americans than ever, Biden said he wanted to thank the community for its contribution. “With prayers, dances, fireworks and sweets, may all who observe Diwali enjoy the chance to celebrate and connect, to feel the pride of community, and to remember the power in the gathering of light,” Biden added.

3 months ago The Financial Express

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