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70% extra tax on liquor by Delhi Government

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There is a 70% extra tax on liquor by Delhi Government this was confirmed by Delhi’s CM mr. Arvind Kejriwal in a late night order on Monday. He said
the police should allow the shops to remain open from 9 am to 6:30 pm.

The 70% tax is on the maximum retail price or MRP per bottle. For instance, a liquor bottle with a pre-tax MRP of Rs 1,000 will now cost Rs 1,700. It because that Delhi government wants to collect more revenue from liquor sale and want to full fill the loss that government has affected due to lockdown.

On Sunday, Mr Kejriwal said the state government’s earnings and economy have been affected due to the lockdown. Citing revenue figures, he said the Delhi government earned Rs 3,500 crore in April 2019, but only Rs 300 crore in April this year.

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Mutual Fund News: SBI Mutual Fund holds its No: 1 position

SBI Mutual Fund has retained its number one position with Asset Under Management (AUM) of Rs 5.11 lakh crore. It is the first mutual fund house in the country, with an Asset Under Management (AUM) of more than five lakh crore rupees.

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Mutual Fund News

SBI Mutual Fund has retained its number one position with Asset Under Management (AUM) of Rs 5.11 lakh crore. It is the first mutual fund house in the country, with an Asset Under Management (AUM) of more than five lakh crore rupees.

There is a big reshuffle in the mutual fund industry of the country. Based on Asset Under Management (AUM), ABI Mutual Fund retained its position at number one, the same HDFC Mutual Fund (HDFC Mutual Fund) has slipped from number two to number three. ICICI Prudential has climbed from the third position to the second position. This information is obtained from the portfolio disclosure on AMC’s website.

In April ’21 month, ABI Mutual Fund (SBI MF) retains its number one position with an AUM of Rs 5.11 lakh crore. Asset under management of HDFC mutual fund i.e. AUM is Rs 4.07 lakh crore, while ICICI Prudential Mutual Fund has AUM of Rs 4.12 lakh crore.

Mutual fund experts say that ICICI Prudential Mutual Fund has outperformed in schemes like equity, debt and hybrids for the past one year. Whatever decision it has taken in equity has been taken keeping in mind the value. This fund house has given better returns to investors in a year. If you talk about debt, then this debt has been able to give positive returns to investors. When it comes to hybrid funds, this fund house constantly focuses on asset allocation. Asset allocation gives investors the advantage that when the market is up, the investment in it decreases and when the market is down, the investment in it becomes more. This gives investors a better return.

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Trade between India and China increased, our country’s exports were fast

According to data released by the Ministry of Commerce and Industry, India imported $ 65.21 billion from China in 2020-21. Trade between India and China was $ 65.26 billion in the previous year.

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India China

Trade between India and China has increased between India and China in 2020-21. It is surprising that this has happened in a year when global trade has declined due to the lockdown in many countries to prevent the corona epidemic from spreading.
In the same year, there was tension between the two countries over the issue of border and a prohibitive atmosphere was created against China by taking Chinese app, mobile and investment in India.

According to data released by the Ministry of Commerce and Industry, India imported $ 65.21 billion from China in 2020-21. The figure was $ 65.26 billion in the previous year.

However, exports from India to China stood at $ 21.19 billion, a 27.5 percent increase over the previous year.
Imports of telecom devices declined to $ 6.48 billion due to the central government encouraging local manufacturing and assembly of mobile phone ports. It was $ 15.59 billion in the previous year.

Sugar chemicals continue to be a major source of ingredients for India, particularly for the pharmaceutical industry. Their demand has increased due to increasing demand for medicines. However, the import of automobile components from China has decreased. Iron ore, steel and organic chemicals were exported more from the country to China. Exports were higher due to increase in global prices of steel along with iron ore and this is one of the biggest reasons behind increasing exports from China to China.

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Post-budget views shared by Mr. Rishab Mehta

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“This year’s Union Budget was in the spirit of “do no harm” in terms of any adverse policies being implemented. Broadly, the various decisions laid out in this year’s budget are more “incremental” rather than “transformational” in nature. Accessibility and affordability of education across the weaker economic strata of society has been a perennial challenge in our country, especially this year with the disparity increasing manifold due to lack of online education infrastructure both at the school and student level. This year’s budget has indicated a good intention of progress in addressing this gap. The government’s decision to strengthen over 15,000 schools under NEP, set up 100 new Sainik Schools, raise the allocation for ‘Eklavya’ schools in hilly areas, etc. will provide a fillip to quality education. 

This budget has also laid down several measures that are further boosting the cause of both startups and especially fintech startups. Once again, we believe the steps taken relating to startups, although incremental in nature, point towards a long term policy goal of the government to significantly boost the sector via favorable policies, albeit with incremental steps taken every year instead of a big-bang transformational reform. The decision to extend capital gains tax exemption by another year is another step in that respect. Specific to fintech, the setting up a world-class Fintech hub at Gift city will add impetus and government recognition to the growing relevance of Fintech companies in India, which is essential considering that it is a regulated sector.”

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