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The Economic Times Ensure GST classification clarity, FM Sitharaman tells officials

FM Nirmala Sitharaman on Monday told officials to ensure clarity on classification issues for levy of GST and asked them to look into the issue at the earliest. The statement at the National Conference of Enforcement Chiefs of the state and the Central GST formations comes amid several instances where classification of a product has created problems for taxpayers.

The Economic Times India ranks 113 out of 190 countries in the World Bank’s legal gender gap index

India ranks 113 in the World Bank's Women, Business and Law index, with women having 60% of the legal rights compared to men. Closing the gender gap could raise global GDP by over 20%. India's female labour force participation rate is 37%.

The Economic Times CFO 2.0: Transformative Leadership in the Era of Business Complexity

Anjali Forbes, Senior Partner at TRANSEARCH India – Banking & Financial Services Practice, elucidates the transformative journey of modern CFOs in "CFO 2.0: Transformative Leadership in the Era of Business Complexity."

The Economic Times Audit panel meetings of listed firms must not be reduced to a formality: NFRA chairman Ajay Bhushan Pandey

The National Financial Reporting Authority (NFRA) plans to conduct annual inspections of major audit firms to ensure compliance with standards and protect investors. The regulator will engage with audit committees and boards, expand inspections, and address issues related to financial statements and auditor independence.

The Economic Times MP industry conclave attracts investment proposals worth Rs 1 lakh crore

Among the major investors, Adani has promised Rs 75,000 crore of investment, Pepsi has proposed Rs 1,250 crore investment in Vikram Udyogpuri of Ujjain, LTI Mindtree has inked an memorandum of understanding to invest Rs 500 crore and Singapore's Samcom expressed interest in wind and solar energy projects.

The Economic Times Samara, consortium of investors set up $150-million platform for packaged foods

The platform will be similar to Sapphire Foods, which Samara Capital had set up for food services, which operates Yum! Brands' quick-service restaurant (QSR) chains KFC and Pizza Hut in India. The Samara Capital-backed platform, to be called Agro Tech Foods, has begun with Sundrop edible oil, peanut butter and ACT II popcorn as its first brands.

The Economic Times Sebi clears Digit's Rs 3.5k crore IPO plan after nearly 2 years

Markets regulator Sebi has given the go ahead for a Rs 3,500-crore IPO by Go Digit General Insurance, promoted by Canadian billionaire Prem Watsa's Fairfax group and industry veteran Kamesh Goyal, according to people familiar with the matter. The company had filed for an IPO in August 2022. However, Sebi had kept the issue in abeyance after raising queries on the company's employee stock appreciation plan.

The Economic Times Evasion fight: FM Sitharaman to meet GST enforcement chiefs

FM Nirmala Sitharaman will inaugurate a conference of GST enforcement chiefs on Monday and the meeting will discuss combating evasion, among other issues. The one day conference will also discuss combating fake invoicing. It will address this primary form of GST evasion and strategise effective methods to combat it collaboratively.

The Economic Times GMR Highways raises Rs 700 cr debt to prepay Yes Bank

GMR Highways has raised ₹700 crore debt from foreign portfolio investors Zeal Global Opportunities Fund and Nova Global Opportunities Fund to prepay loans raised from Yes Bank. Both invested ₹350 crore each in secured, unlisted, and unrated bonds of GMR Highways maturing on February 20, 2028. The bonds have been issued at 14% per annum for 48 months, with the company pledging 100% of its equity shares and providing a corporate guarantee.

The Economic Times PM Modi, council of ministers brainstorm on vision document for Viksit Bharat 2047 & detailed action plan for next 5 years: Sources

The council of ministers has developed a vision document and action plan for Viksit Bharat 2047, a five-year plan involving a 'Whole of Government' approach. The plan involved consultations with state governments, academia, industry bodies, civil society, and scientific organizations. Over 2,700 meetings, workshops, and seminars were held, with over 20 lakh youth suggestions received.

The Economic Times Ahead of US hearing, Byju's says it is beneficial owner of $533 million fund parked in US

On Saturday, Byju's stated that it had no money to pay salaries to employees after just-raised funds through the rights issue were locked (in a separate account) after a dispute with investors. It is not clear if Byjus is the beneficial owner of $533 million, then why it could not use them for paying salaries.

The Economic Times Godrej & Boyce to increase focus on smaller cities, invest Rs 40 crore in 3 years on distribution

The company is targeting to grow its topline by 15-20 per cent per year, and it hopes for the store expansion to be one among several initiatives to realise its aim, the spokesperson added. When asked if the expansion activities will be franchisee-driven, the spokesperson said the store expansion will be both "company and channel-driven".

The Economic Times India to be on high-stake global stage of chip makers in 5 years: IT Minister Ashwini Vaishnaw

India aims to become a global semiconductor powerhouse, attracting major players with carefully-crafted policies. The country's semiconductor value chain includes a proposed fab, assembly and test units, and partnerships with Tata Group. India's plans align with the geopolitical battleground and aim to foster local industry and job creation.

The Economic Times Foxconn, Samsung, 3 others to get Rs 4,400+ cr under PLI

Apple's contract manufacturers in India, including Foxconn, Wistron, Pegatron, along with Samsung and Dixon Technologies, are set to receive over ₹4,400 crore in incentives for meeting targets in FY23 under the government's production-linked incentive scheme for smartphones. Rising Star (Bharat FIH), Lava, and Optiemus Electronics are among the companies that have not met the PLI targets and are unlikely to receive incentives.

The Economic Times Core inflation to stay around 3% till Q1 FY25: Economists

Inflation in goods and services other than fuel and food is expected to remain low at around 3% due to weak rural demand. Despite a strong economy, depressed wage growth and muted private consumption have contributed to declining core inflation.