Union Finance Minister Nirmala Sitharaman. (ANI)
Shaktikanta Das, governor of the Reserve Bank of India (RBI) (Photo: Bloomberg)
Shaktikanta Das, governor of the Reserve Bank of India (RBI) (Photo: Bloomberg)

Shaktikanta Das says more rate cuts hinge on incoming dataprints

  • Since February, the RBI has reduced repo rate by 110 basis points in four successive actions with the last one being an unconventional 35 bps
  • Das also said RBI started noticing signs of slowdown in the economy from February

The Sensex had gained 2,111 points on 18 May 2009, making today’s rally the biggest intra-day gain for the benchmark index (Mint file)
Photo: Mint

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A general view of the damaged site of Saudi Aramco oil facility in Abqaiq, Saudi Arabia. (REUTERS)
A general view of the damaged site of Saudi Aramco oil facility in Abqaiq, Saudi Arabia. (REUTERS)

Saudi Arabia reveals damage to giant Khurais oil field

  • The Khurais field has a maximum output capacity of 1.45 million barrels a day and processes all of its oil on site, according to Al Abdulkareem
  • Saudi and US officials have said that the drones and missiles used to attack Abqaiq and Khurais were made by Iran

Finance minister Nirmala Sitharaman (PTI)
To level the playing field between firms and individuals, and to potentially garner higher taxes, the FM should now extend this option to the individual income tax payers as well.  (ANI )
To level the playing field between firms and individuals, and to potentially garner higher taxes, the FM should now extend this option to the individual income tax payers as well. (ANI )

Opinion | The FM should extend the tax nudge to personal income tax too

To level the playing field between firms and individuals, and to potentially garner higher taxes, the FM should now extend this option to the individual income tax payers as well

The total number of telephone subscribers in India stands at 1186.63 million as of June end.
Finance Minister Nirmala Sitharaman addresses a press conference ahead of the 37th meeting of the GST Council, in Panaji,  (PTI)

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Corporate Tax Cut
Finance minister Nirmala Sitharaman Photo: Pradeep Gaur/Mint

Is there a Sitharaman Put in India?

2 min read . 08:01 PM IST
The Sensex zoomed nearly 2,100 points, or about 6%, intra-day (Bloomberg file)

Opinion | Sensex: Up, up and away

1 min read . 03:20 PM IST
Corporate affairs and finance minister Nirmala Sitharaman. (ANI)

Govt expands scope of CSR spending

2 min read . 06:10 PM IST
Bringing tax-friendly laws, including reducing corporate tax, have been a long-standing demand of India Inc. (iStock)

India Inc welcomes cut in corporate tax

2 min read . 03:14 PM IST
The Sensex zoomed nearly 2,100 points, or about 6%, intra-day (Bloomberg file)
The Sensex zoomed nearly 2,100 points, or about 6%, intra-day (Bloomberg file)

Opinion | Sensex: Up, up and away

  • Investors grew richer by 5 trillion within minutes of finance minister Nirmala Sitharaman announcing cuts in corporate tax

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A file photo of WeWork—shared office spaces in Mumbai (Mint file)
A file photo of WeWork—shared office spaces in Mumbai (Mint file)

Opinion | The four inexorable trends shaping the future of work

Recent signs of trouble at WeWork, which has so far been a poster boy of coworking spaces, raise an important question: is the ‘future of work’ dead?

Long Reads
The mindless consolidation of public sector banks is also not reform. (Reuters)

The roadmap for real banking reforms

10 min read . 02:21 PM IST
It’s been six weeks since the government revoked Jammu and Kashmir's special status and divided it into two union territories (Reuters)

Kashmir @ the UN: Managing the optics

9 min read . 19 Sep 2019
Bechal Kumar Singh, 23, delivers a cake to an office complex in Gurugram's sector 21 on a Sunday afternoon. Singh, who hails from Darbhanga, Bihar, joined online food delivery company Swiggy a year-and-a half. (Photo: Pradeep Gaur/Mint)

The loneliness of the delivery man

9 min read . 18 Sep 2019
Photo: iStock
Plain Facts
Sonam Kapoor in a still from ‘The Zoya Factor’.
, chairman of Mahindra & Mahindra Ltd
Analysts see volatility continuing for a while but say opportunity in the long term. (Bloomberg)
Finance minister Nirmala Sitharaman (Pradeep Gaur/Mint)
Post the sale, the total promoter holding in Yes Bank will fall from 18% to 15.7% in further compliance with the Reserve Bank of India’s regulatory level of 15%. (Reuters)
Post the sale, the total promoter holding in Yes Bank will fall from 18% to 15.7% in further compliance with the Reserve Bank of India’s regulatory level of 15%. (Reuters)

Yes Bank assures investors amid stake sale by promoter

  • On Thursday MCPL owned by Yes Bank Ltd co-founder Rana Kapoor’s family sold its 2.3% stake in the bank to an undisclosed buyer
  • With the stake sale Kapoor’s holding in the private sector bank stands reduced to 7.4%

Essel Group chairman Subhash Chandra. The group now has till 31 March to repay its debt (Photo: Ramesh Pathania/Mint)
The market capitalisation (m-cap) of companies changes daily with stock price movement. (REUTERS)
The market capitalisation (m-cap) of companies changes daily with stock price movement. (REUTERS)

RIL replaces TCS as top firm in market capitalisation

  • The market capitalisation (m-cap) of companies changes daily with stock price movement
  • The m-cap of Tata Consultancy Services (TCS) was at 7,75,092.58 crore, which is 20,087.04 crore less than that of RIL's

A healthy monsoon will lead to good crop production, benefiting farmers.
India does not have a complete and concrete action plan for these category of workers
India does not have a complete and concrete action plan for these category of workers

Draft code proposes social security for all informal, gig workers

  • The exact number of gig workers are unknown as they are still figuring out whether they are formal workers or informal workers, a study shows
  • Central Government may formulate and notify, from time to time, suitable social security schemes for gig workers, as per the draft social security code

A billboard welcoming Prime Minister Narendra Modi installed at the NRG Stadium as preparations are underway for the forthcoming 'Howdy Modi' event (PTI)
A billboard welcoming Prime Minister Narendra Modi installed at the NRG Stadium as preparations are underway for the forthcoming 'Howdy Modi' event (PTI)

Trump likely to make ‘some’ announcement at Houston

  • Trump’s statement raises expectations of a breakthrough in India-US trade relations
  • Modi and Trump will be meeting twice in three days— at Houston and during UNGA in New York

The search giant announced the new initiatives at the ‘Google for India’ event on Thursday. (Reuters)
The search giant announced the new initiatives at the ‘Google for India’ event on Thursday. (Reuters)

Google unveils integrated payments and jobs app

  • Tech firm also announces AI research lab in Bengaluru at its ‘Google For India’ event
  • Google Pay will allow users to add their credit and debit cards, and help find entry-level jobs

Prime Minister Narendra Modi (PTI file)
TikTok has been downloaded by nearly 300 million users so far in India, out of more than 1 billion downloads globally. (Bloomberg)
TikTok has been downloaded by nearly 300 million users so far in India, out of more than 1 billion downloads globally. (Bloomberg)

TikTok video: DGCA warns airlines against flight crew doing ramp walks, dancing

  • DGCA has directed all airlines to rein in such behaviour and will soon seek a compliance report
  • Flight attendants have been found to be grooving to popular tunes or lip-syncing movie dialogues during flights

Netflix Logo (Photo: Bloomberg)
Gold, silver price today: On MCX, gold prices remained around  ₹37,500 per 10 grams while silver at  ₹46,370 per kg
The interest coverage ratio measures the ability of businesses to pay interest on their loans. (REUTERS)
The interest coverage ratio measures the ability of businesses to pay interest on their loans. (REUTERS)

Private capex and credit worthiness of India Inc set for a boost

  • For new manufacturing companies, they will have to pay an even lower corporate tax rate of 15% (17.01% inclusive of surcharge and cess).
  • The government has also cut the minimum alternate tax (MAT) rate to 15% from 18.5% for companies that continue to avail exemptions and incentives

Sonu Mehta/Hindustan Times
In India’s six largest metros (Delhi, Mumbai, Kolkata, Chennai, Hyderabad and Bengaluru), 48% of residents were migrants in 2011. (HT)
The Council will also consider a uniform tax rate for lottery tickets, which are currently taxed at 12% and 28% depending on whether they are sold within the organising state or outside (Photo: Mint)
The Council will also consider a uniform tax rate for lottery tickets, which are currently taxed at 12% and 28% depending on whether they are sold within the organising state or outside (Photo: Mint)

GST Council to opt for just minor tax tweaks

  • GST Council will also consider states’ demand for extending cess on select products like automobiles beyond 2022
  • The Council will also consider a uniform tax rate for lottery tickets, which are currently taxed at 12% or 28%

Photo: Mint (MINT_PRINT)
Corporate affairs and finance minister Nirmala Sitharaman. (ANI)
Corporate affairs and finance minister Nirmala Sitharaman. (ANI)

Govt expands scope of CSR spending

  • CSR fund can be spent on incubators funded by the Centre or state or any state-owned companies
  • This is expected to attract more funds on research and development in the country

Former RBI governor Bimal Jalan (Photo: Pradeep Gaur/Mint)
Finance minister Nirmala Sitharaman Photo: Pradeep Gaur/Mint
Finance minister Nirmala Sitharaman Photo: Pradeep Gaur/Mint

Is there a Sitharaman Put in India?

In the late 1990s in the US, there existed what was called the ‘Greenspan Put.’ Every time there was a significant stock market correction, Alan Greenspan, Chairman of the Federal Reserve would cut interest rates

To boost research and development initiatives of the companies in India, Minimum Alternate Tax has been also reduced from existing 18.5% to 15%. (Ramesh Pathania/Mint)
To boost research and development initiatives of the companies in India, Minimum Alternate Tax has been also reduced from existing 18.5% to 15%. (Ramesh Pathania/Mint)

Revival in auto sector may be round the corner with the corporate tax cuts

  • To boost research and development initiatives of the companies in India, Minimum Alternate Tax has been also reduced from existing 18.5% to 15%
  • The automobile component manufacturing sector which has been the most affected the most, by the year long downturn in the sales

When Monarch collapsed in 2017, the British government repatriated all customers abroad (iStock)
Tejasvi Surya, BJP MP from Bengaluru South. (PTI)
Elimination of Minimum Alternate Tax (‘MAT’) for companies opting for this reduced rate regime as well as the overall reduction in the MAT rate from 18.5% to 15% is also a very positive step. (iStock)
Elimination of Minimum Alternate Tax (‘MAT’) for companies opting for this reduced rate regime as well as the overall reduction in the MAT rate from 18.5% to 15% is also a very positive step. (iStock)

Opinion | Increasing India’s tax competitiveness

Interestingly, no cuts are proposed for foreign companies which continue to be taxed at 43.68%

Paytm Mall said even for marquee products like the newly-launched Apple iPhone 11, there is considerable interest
Paytm Mall said even for marquee products like the newly-launched Apple iPhone 11, there is considerable interest

Millenials leading consumption in smaller cities: Paytm Mall ahead of mega sale

  • Around 50% of Paytm Mall's base that is leading is in the 19-25 year age group. Many of these are people spending their first salaries: Paytm Mall senior vice-president Srinivas Mothey
  • There was a minor 5% dip in consumer electronics, especially in the smartphone category

Earlier in January, the Ministry of Information and Broadcasting had announced a 25% rate hike for government ads in print media (Ramesh Pathania/Mint file)
Earlier in January, the Ministry of Information and Broadcasting had announced a 25% rate hike for government ads in print media (Ramesh Pathania/Mint file)

Media companies set to benefit from cut in corporate tax rate

  • According to media industry experts, this means positive news for the newspaper, television and other segments, which have been struggling with a fall in advertising revenues
  • The share of print in total advertising fell to 32% in FY19, against 35% in FY18: KPMG media and entertainment report 2019

Typing the name of the character on Google Search displays an interactive icon in the information card
Finance Minister Nirmala Sitharaman. (PTI)
The NSE Nifty Bank Index rose as much as its daily limit of 10%
Finance Minister Nirmala Sitharaman. (ANI)
Union Minister for Defence Rajnath Singh after his maiden sortie in LCA Tejas with Air Vice Marshal Narmdeshwar Tiwari, at HAL Airport, Bengaluru on Thursday. (ANI Photo) (ANI )
Union Minister for Defence Rajnath Singh after his maiden sortie in LCA Tejas with Air Vice Marshal Narmdeshwar Tiwari, at HAL Airport, Bengaluru on Thursday. (ANI Photo) (ANI )

The story of LCA Tejas so far

  • The Tejas is an indigenous light weight, multi role supersonic aircraft developed in both fighter and trainer versions
  • The Tejas is designed to carry a veritable plethora of air-to-air, air-to- surface, precision guided and standoff weaponry