The exchequer was shaved off  ₹1.45 trillion as the govt slashed corporate tax rates up to 10 percentage points, the biggest reduction in 28 years (Photo: Reuters)
The exchequer was shaved off 1.45 trillion as the govt slashed corporate tax rates up to 10 percentage points, the biggest reduction in 28 years (Photo: Reuters)

Room for income tax relief limited as collections may fall short

  • Income and corporate tax collections are likely to miss FY2020 targets by as much as 1.5 trillion
  • Indirect taxes may fall short by about 50,000 crore on drop in the Goods and Services Tax (GST) in a sluggish economy

Franklin Templeton Mutual Fund which held Vodafone Idea debt of around 4-7% in its debt schemes, had written down this value by 100% (Photo: iStock)
Franklin Templeton Mutual Fund which held Vodafone Idea debt of around 4-7% in its debt schemes, had written down this value by 100% (Photo: iStock)

Franklin Templeton Mutual Fund side pockets its exposure to Vodafone Idea

  • Existing investors will benefit from recovery in the bad debt through this separate portfolio while fresh investors will not
  • Franklin Templeton MF had previously, on 16 Jan written down the value of the affected paper completely. It had also imposed a restriction of 2 lakh per day per investor into the affected schemes

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Of about 2,000 cities in China with factories and other facilities in Bloomberg's supply chain database, the city ranks 13th, with about 500 facilities (Photo: AP)
The ceremony that lasted one and a half hours, was witnessed by PM Narendra Modi and the chief guest of this year’s parade, Brazilian president Jair Messias Bolsonaro, while President Ram Nath Kovind took the salute. (Photo: AP)
The ceremony that lasted one and a half hours, was witnessed by PM Narendra Modi and the chief guest of this year’s parade, Brazilian president Jair Messias Bolsonaro, while President Ram Nath Kovind took the salute. (Photo: AP)

India celebrates 71st Republic Day with several firsts

  • The celebration this year was marked by several firsts, starting with PM Modi paying homage to soldiers killed in battle at National War Memorial instead of the Amar Jawan Jyoti
  • One of the showstoppers of the parade was India’s Anti-Satellite Weapons system that was successfully tested in March last year

Turbans have been a highlight of the prime minister's sartorial choices at Independence Day and Republic Day events.
A cut in personal income taxes could also support the markets as this will give a filip to consumption (Photo: Mint)
A cut in personal income taxes could also support the markets as this will give a filip to consumption (Photo: Mint)

Mark To Market | Great expectations ride on the budget

  • The markets are hoping that the government will revive the economy without straining its finances too hard in the upcoming Budget
  • The market wants the government to expand its balance sheet a wee bit to free up some resources to revive growth

Travellers wear masks at Pearson airport arrivals (Photo: Reuters)

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During the week, the Sensex shed 332.18 points or 0.79%. (Photo: Mint)
During the week, the Sensex shed 332.18 points or 0.79%. (Photo: Mint)

Six of top-10 Indian firms lose 81,148 crore in m-cap, Reliance hit hard

  • The market valuation of Reliance Industries, the country's most valued firm, plunged 37,369.7 crore to 9,64,639.40 crore
  • TCS, HDFC Bank, HDFC, Kotak Mahindra Bank and ITC were the other bluechips which witnessed a drop in their market capitalisation for the week ended Friday

Please follow @EOIBeijing for more updates on the situation, External Affairs Minister S Jaishankar (Photo: Vipin Kumar/Hindustan Times)
Please follow @EOIBeijing for more updates on the situation, External Affairs Minister S Jaishankar (Photo: Vipin Kumar/Hindustan Times)

'Embassy in Beijing constantly checking on health, well-being of Indians: MEA

  • Two hotlines (+8618612083629 and +8618612083617) are operational and are open to respond to any concerns of Indians in China, said Indian Embassy in Beijing
  • Some reports Saturday said that India has requested China to permit over 250 Indian students stuck in Wuhan, the epicentre of the new SARS-like virus

It took a significant corporate tax rate cut for the tides to turn, and FPI inflows as of December stood at over  ₹1.3 trillion, including  ₹97,250 crore in equities -- the highest in last six years. (Photo: Mint)
It took a significant corporate tax rate cut for the tides to turn, and FPI inflows as of December stood at over 1.3 trillion, including 97,250 crore in equities -- the highest in last six years. (Photo: Mint)

How last year’s budgetary promises impacted markets

Here’s a list of hits and misses of capital market reforms from last years budget as we usher in the next one

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Hardeep Singh Puri, union minister for housing and urban affairs, and civil aviation, and MoS for commerce and industry (Photo: Mint)
Hardeep Singh Puri, union minister for housing and urban affairs, and civil aviation, and MoS for commerce and industry (Photo: Mint)

'No bigger lie than saying Indian minorities stifled, freedom crushed'

  • In a detailed interview to Mint, the union minister also said the upcoming Delhi election will be fought on development issues, both local and national
  • The NPR has nothing to do with CAA, it only wants to know how many people live in a sub-division because it will help in development projects, says the minister

Tableau of Goa passes through Rajpath during the full dress rehearsal for the upcoming Republic Day Parade, in New Delhi (Photo: PTI)
Tableau of Goa passes through Rajpath during the full dress rehearsal for the upcoming Republic Day Parade, in New Delhi (Photo: PTI)

India's military might, cultural heritage to be on display at Rajpath today

  • Brazilian President Jair Messias Bolsonaro will be the chief guest at the 90-minute Republic Day celebrations
  • This is for the first time that the prime minister will pay homage to martyrs at the National War memorial instead of Amar Jawan Jyoti

Gold prices ended higher at  ₹40,355 per 10 gram on MCX
Hospital staff wash the emergency entrance of Wuhan Medical Treatment Center, where some infected with a new virus are being treated. (Photo: AP)
Hospital staff wash the emergency entrance of Wuhan Medical Treatment Center, where some infected with a new virus are being treated. (Photo: AP)

Coronavirus outbreak: US to evacuate consulate staff, some citizens from Wuhan

  • The US State Department said today it will evacuate personnel from its Wuhan consulate to the United States
  • The State Department said some private US citizens will be able to board a 'single flight' leaving Wuhan on 28 Jan, requesting those interested to contact the US embassy in Bejing

From left) Defence Minister Rajnath Singh, Prime Minister Narendra Modi, chief guest Brazilian President Jair Bolsonaro and President Ram Nath Kovind during the Republic-Day parade in new Delhi (Photo: PTI)
From left) Defence Minister Rajnath Singh, Prime Minister Narendra Modi, chief guest Brazilian President Jair Bolsonaro and President Ram Nath Kovind during the Republic-Day parade in new Delhi (Photo: PTI)

Republic Day: President Ram Nath Kovind receives national salute at Rajpath

  • President Ram Nath Kovind today received the national salute at Rajpath on the occasion of 71st Republic Day
  • Earlier both President Ram Nath Kovind and PM Modi paid rich tributes to the martyred soldiers, by laying wreathes at the National War Memorial

According to the current norms, short-term investments by an FPI should not exceed 20% of the total investment of that FPI in either central govt securities (including treasury bills) or state development loans (Photo: Bloomberg)
According to the current norms, short-term investments by an FPI should not exceed 20% of the total investment of that FPI in either central govt securities (including treasury bills) or state development loans (Photo: Bloomberg)

FPIs pour in 1,624 cr in Jan so far as US-China trade deal boosts sentiment

  • FPIs invested a net 13,304 cr in equities and withdrew a net 11,680 cr from the debt segment between Jan 1-24. This translates into a total net inflow of 1,624 crore.
  • The RBI on Thursday raised the investment limit for FPIs in govt and corporate bonds, a move that is likely to bring in more foreign funds in the country

At present, shops are allowed to open till 10 pm while restaurants can remain open till 1.30 am latest.
At present, shops are allowed to open till 10 pm while restaurants can remain open till 1.30 am latest.

Mumbai's enhanced nightlife fails to enthuse city's mall owners

  • Not all Mumbai mall owners are rushing to the idea of opening 24/7 due to concerns over additional costs, manpower and doubts over footfalls late night
  • Last week, Maharashtra approved its 'Mumbai 24 hour policy' allowing malls, shops and restaurants to open 24 hours and seven days week, if they wish to, from 27 Jan

The IAF contingent during Indian Republic Day parade
The DRDO Anti-Satellite (A-SAT) Weapon System was on display at Rajpath in the Republic Day parade today (Photo: Ramesh Pathania/Mint)
The DRDO Anti-Satellite (A-SAT) Weapon System was on display at Rajpath in the Republic Day parade today (Photo: Ramesh Pathania/Mint)

Republic Day celebrations: DRDO displays A-SAT weapon system

  • In March last year, the DRDO launched 'Mission Shakti', India's first A-SAT mission and demonstrated its anti-satellite technology
  • A-SAT weapon system has placed India at par with the elite club of 3 nations — US, Russia and China — that possess this capability

Union Health Minister Harsh Vardhan at a meeting to review preparedness regarding coronavirus (Photo: @MoHFW_INDIA on Twitter)
Union Health Minister Harsh Vardhan at a meeting to review preparedness regarding coronavirus (Photo: @MoHFW_INDIA on Twitter)

11 people under observation for coronavirus, PMO holds high-level meeting

  • Govt formed multidisciplinary central teams that will be sent to the seven states where thermal screening is being done at seven designated airports
  • PMO also reviews various preventive measures taken by ministries like Civil Aviation to deal with coronavirus

President Ram Nath Kovind, PM Narendra Modi with chief guest Brazilian President Jair Bolsonaro in New Delhi (Photo: Bloomberg)
President Ram Nath Kovind, PM Narendra Modi with chief guest Brazilian President Jair Bolsonaro in New Delhi (Photo: Bloomberg)

Republic Day: Delhi under multi-layered, ground-to-air security cover

  • Over ten thousand security personnel have been deployed to keep vigil over the Republic Day celebrations today
  • Facial recognition devices installed at all entry gates of the R-Day celebration venue to identify miscreants and suspects, Delhi police said

Republic Day Update: Metro services on Phase-III corridors will also commence at 6 am today. (Priyanka Parashar/Mint)
Retail fuel prices in India is dependent on the international crude prices and the rupee-US dollar exchange rate. India imports almost 80% of its oil requirements (Photo: Mint)
On Sunday, China confirmed 1,975 cases of patients infected with the new coronavirus as of Jan. 25, while the death toll from the virus has risen to 56, state broadcaster CCTV reported. (Photo: Ruters)
On Sunday, China confirmed 1,975 cases of patients infected with the new coronavirus as of Jan. 25, while the death toll from the virus has risen to 56, state broadcaster CCTV reported. (Photo: Ruters)

Coronavirus: Over 2,000 people now infected globally, 56 dead in China

  • The Coronavirus has spread to Chinese cities including Beijing and Shanghai, as well as the US, Thailand, South Korea, Japan, Australia, France and Canada
  • The virus is believed to have originated late last year in a seafood market in the Wuhan city that was illegally selling wildlife

Notably, 27% of organisations worldwide were impacted by cyberattacks that involved mobile devices in 2019, down from 33% in 2018. (Photo: iStock)
Notably, 27% of organisations worldwide were impacted by cyberattacks that involved mobile devices in 2019, down from 33% in 2018. (Photo: iStock)

Hackers target 1 Indian firm over 1,500 times a week

  • 93% of malicious files in India were delivered via the web, compared to 35% of malicious files globally, said cybersecurity firm Check Point Research
  • The most common vulnerability in India is information disclosure, impacting 64% of the organisations and the top malware in India is 'XMRig' that impacts 17% of firms

Budget 2020: Tax experts also expect more income tax sops on purchase of property
Budget 2020: Tax experts also expect more income tax sops on purchase of property

5 income tax changes expected in this year's budget

  • Tax experts expect some rationalisation as there is a steep jump in tax rate when income exceeds 5 lakh
  • Some tweaking in dividend distribution tax, long term capital gains tax on listed shares are also high on the wish list

Shoppers wearing face masks look for groceries with many empty shelves at a supermarket in Wuhan in central China's Hubei province (Photo: AP)
Shoppers wearing face masks look for groceries with many empty shelves at a supermarket in Wuhan in central China's Hubei province (Photo: AP)

Coronavirus: India 'requests' China to let over 250 Indian students leave Wuhan

  • While majority of the Indian students left for home on Chinese New Year holidays, over 250 students are said to be still in the city and its surrounding areas
  • On Saturday, the city officials have also banned all private transport in the city as part of stepped up measures

The department has given time till 27 October for stakeholders to give comments on the proposed amendment to Income Tax rule 17A and form 10A, the CBDT said. Photo: iStock
The department has given time till 27 October for stakeholders to give comments on the proposed amendment to Income Tax rule 17A and form 10A, the CBDT said. Photo: iStock

Income tax slabs and rates for FY 2019-20

  • While doing your tax planning for the current financial year 2019-20, it is important to understand the income tax slab and rates
  • Although there is no change in the income tax slab as compared to the last year, yet your tax outgo may be affected due to rebates and deductions

The Polls 2.0 feature is live right now and you can access it via the attachment menu
The Polls 2.0 feature is live right now and you can access it via the attachment menu

WhatsApp rival Telegram adds new features on latest update: Details here

  • Telegram has released a feature known as 'Polls 2.0', which will essentially enable users to conduct various types of polls within the chat groups and channels
  • The new Telegram feature aims to enrich the learning experience of users

SBI has been offering cardless cash withdrawal facility to its customers for a long time. (Mint)
The income tax department has warned taxpayers against phishing attempts. (Pradeep Gaur/Mint)
Ola bike covered a total of 166 million km
Unlike the older generation, Gen Z prefers a part-time role or contract role. Photo: Bloomberg
The delay in delivery of planes is expected to have an impact on the GoAir's expansion plans (MINT_PRINT)
Picture uploaded to social media on 25 January, 2020 by the Central Hospital of Wuhan show medical staff, in Wuhan (Photo: Reuters) ( )
Picture uploaded to social media on 25 January, 2020 by the Central Hospital of Wuhan show medical staff, in Wuhan (Photo: Reuters) ( )

'Nobody can leave': Trapped Wuhan residents stock up as virus toll rises to 41

  • The city of 11 million people at the heart of the viral outbreak has so far infected nearly 1,300 people
  • Authorities extended transport bans to 17 other cities around Wuhan in a gargantuan effort to control the SARS-like virus

The PIL has beeen filed by a company known as Consumer Rights Foundation
File photo of Prime Minister Narendra Modi paying tribute to former finance minister Arun Jaitley, in New Delhi (Photo: PTI)
(Photo: Reuters)
Some older millennials have rated their work-life balance as ‘terrible’ in a recent survey. (Photo: iStock)
Finance minister Nirmala Sitharaman, who sought inputs from the public in her first budget, will repeat the exercise this time
Finance minister Nirmala Sitharaman, who sought inputs from the public in her first budget, will repeat the exercise this time

Three global risks that could upend finance minister’s Budget calculations

  • While the spike in crude oil prices due to rising tension between the US and Iran was short-lived, the situation remains precarious
  • The Economic Survey 2017-18 had estimated that every $10 per barrel increase in the price of oil reduces economic growth by 0.2-0.3 percentage point

An art installation of the map of India at the protest site in Shaheen Bagh area, in New Delhi (Photo: AP)
If you lose your phone, block the account linked on any UPI app present on the phone. (Pradeep Gaur/Mint)
Google's teaser includes a puzzle that ultimately joins together to reveal the dates of the event  (Google)
Finance Minister Nirmala Sitharaman could make the announcement when she presents her annual budget for 2020/21 on 1 Feb (Photo: Reuters)
Finance Minister Nirmala Sitharaman could make the announcement when she presents her annual budget for 2020/21 on 1 Feb (Photo: Reuters)

Budget 2020: Govt may increase import duties on more than 50 items

  • Higher customs duties are likely to hit electronics, electrical goods, chemicals and handicrafts
  • The hike would provide a level playing field for local manufacturers who are hit by cheap imports from China, say officials and industry sources