Monday, December 4, 2023

Top headlines: Govt to bring down tax burden, Foxconn gets Karnataka’s nod

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Govt evaluating measures to bring down tax burden on PE/VCs in India

The government is evaluating measures to bring down the tax burden on foreign investors that put money in alternative investment funds (AIFs), which include venture capital (VC) and private equity (PE) domiciled in India. The move follows the report submitted by a panel led by M Damodaran, former chairman of the Securities and Exchange Board of India (Sebi), in December. Read more

India better placed than most to face turmoil, says report

The has remained resilient amidst high tides of uncertainty and is better positioned than many parts of the world to head into a challenging year ahead, the (RBI) said in its State of the Economy report on Tuesday. “Even as global growth is set to slow down or even enter a recession in 2023…India has emerged from the pandemic years stronger than initially thought,” it said. Read more

India eyes active role in designing global policies on 6G, satcom

With the global focus on its telecom and digital industry, India is pushing for a greater say in the ongoing policymaking at the International Telecommunication Union (ITU), including for a new global vision for 6G and international rules for satellite communications. Read more

Rs 8,000-crore project receives govt’s approval

The government has approved a project by Hon Hai Technology India Mega Development (FHH) that may see an investment of around Rs 8,000 crore. The project may also create job opportunities for around 50,000 people. Foxconn’s project was cleared at the 61st meeting of the State High Level Clearance Committee (SHLCC), which approved 18 projects with a total projected investment of Rs 75,393.57 crore on Monday. Read more

ADP merger likely to give wings to Infrastructure stock

The GMR Group and its joint venture (JV) partner — the French Groupe Aeroports de Paris (ADP) — will merge their unlisted company, (GAL) into the listed Infrastructure (GIL), alongside an infusion of €331 million (Rs 2,900 crore) via the foreign currency convertible bond (FCCB) route by ADP. While the merger is subject to regulatory clearance and shareholder approval, it could take place in the early part of the 2024 calendar year. Read more

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