Government's LPG Price Cut and PMUY Expansion Could Incur Annual Cost of Over Rs 37,000 Crore
The government's decision to reduce domestic cooking gas prices by Rs 200 per 14.2-kg cylinder and expand the Pradhan Mantri Ujjwala Yojana (PMUY) by adding 75 lakh poor households could potentially lead to an annualized cost of over Rs 37,000 crore. This analysis is based on the existing LPG consumer base and average refill data, assuming that refill rates remain consistent with those of FY23 and that fuel retailers maintain the reduced price of LPG cylinders due to the announced price cut.
Avail Flat ₹200 discount on Gas Cylinder Bookings
{getButton} $text={Book Cylinder} $icon={cart}$color={} $info={₹}
GST collection rises 11 % to Rs 1.59 lakh cr in Aug on improved compliance, lower evasion
India's Goods and Services Tax (GST) collections for August rose by 11% year-on-year to nearly Rs 1.59 trillion, closely approaching the government's monthly target of Rs 1.6 trillion for the fiscal year. Over the first five months of 2023-24, monthly GST collections averaged Rs 1.65 trillion, primarily driven by an exceptional Rs 1.87 trillion collection in April due to year-end transactions. This trajectory suggests central GST collections are on track to comfortably exceed the FY24 target of Rs 8.1 trillion, as per the government's fiscal plan. Despite a slight dip in the headline GST figure due to import-related factors, overall revenue collections remain robust, supporting fiscal objectives.
Flat ₹100 off on Groceries (Limited Period Offer)
{getButton} $text={Avail offer!} $icon={cart}$color={} $info={₹}
Uday Kotak Steps Down as Kotak Mahindra Bank's MD & CEO, Dipak Gupta to Assume Interim Role
Uday Kotak, the founder of Kotak Mahindra Bank, has resigned as Managing Director (MD) and CEO, effective from September 1, 2023, four months before his current tenure's scheduled end on December 31, 2023. The bank announced this change following a board meeting. Uday Kotak will now serve as a non-executive director. In the interim, Dipak Gupta, the Joint Managing Director, will take on the responsibilities of MD & CEO until December 31, 2023, pending approval from the Reserve Bank of India (RBI) and the bank's members.
Open Kotak 811 Account for FREE with No Minimum Balance
{getButton} $text={Open New Account} $icon={cart}$color={} $info={₹}
SEBI Proposes Regulation of Financial Influencers (Finfluencers) to Ensure Accuracy and Authenticity
Securities and Exchange Board of India (SEBI) is planning to regulate financial influencers or "finfluencers" as they become increasingly influential, charging significant fees ranging from Rs 10,000 to Rs 7.5 lakh for a single social media post. SEBI's proposal aims to ensure investors receive accurate and unbiased financial information, maintain authenticity, and reduce fraudulent activities in this space. Finfluencers have grown in popularity, and influencer marketing agencies even charge up to Rs 20 lakh, plus taxes, for campaigns aimed at enticing their followers. This regulatory move seeks to bring accountability and transparency to the financial influencer industry, ultimately benefiting investors and the integrity of financial advice.
Post a Comment