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Yesterday’s big news was related to Banking Amendment Bill 2024. The government has got it passed in the Lok Sabha. Many important changes will be made under this Banking Amendment Bill. After the implementation of the new law, account holders will now be able to add 4 nominees for one bank account.
At the same time, the biggest contribution to the country’s GST collection is the expenditure made by the common man on his daily needs. According to the information given by the Finance Ministry in the Lok Sabha, the contribution of 18% slab in the total GST collection is about 75%.
Before tomorrow’s big news, today’s major events to keep an eye on…
- There may be a rise in the stock market today on Wednesday.
- Honda Amaze sedan will be launched
- There has been no change in the prices of petrol and diesel.
Now read tomorrow’s big news…
1. Now you can add 4 nominees in one bank account: Banking Amendment Bill 2024 passed in Lok Sabha, total 19 amendments proposed in it
The Banking Amendment Bill 2024 has been passed in the Lok Sabha on Tuesday (December 3). Many important changes will be made under this Banking Amendment Bill. Will amend the Reserve Bank of India Act 1934, Banking Regulation Act 1949, State Bank of India Act 1955 and other laws.
Finance Minister Nirmala Sitharaman had introduced this bill in the Lok Sabha. A total of 19 amendments are proposed in this bill. The bill has been passed by the government in the Lok Sabha in the current winter session of the Parliament.
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2. 75% of GST collection comes from everyday items like soap and oil: Government is charging 18% tax on these, Finance Ministry gave information in Lok Sabha.
The biggest contribution to the country’s GST collection is the expenditure made by the common man on his daily needs. According to the information given by the Finance Ministry in the Lok Sabha, the contribution of 18% slab in the total GST collection is about 75%.
Under this, items like hair oil, toothpaste, ice cream, pasta, food in restaurants, cinema tickets less than Rs 100 are included. The contribution of 12% bracket in GST collection was only 5-6%. This includes ghee, processed food, mobile phones, packaged coconut water and fruit juice etc. According to the Finance Ministry, by the end of the last financial year, the average GST rate of the country came down to 11.6%.
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3. Tobacco-cigarettes may become expensive: GST on these is expected to increase from 28% to 35%, decision may be taken in the meeting on December 21.
Tax rates can be changed in the GST Council meeting to be held in December. According to media reports, the Group of Ministers (GoM) formed to simplify the GST structure has increased the tax rate on tobacco and all tobacco products, aerated beverages (soda drink-cold drink) etc. from the existing 28% to 35%. It is recommended to do so.
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4. Morgan-Stanley reduced India’s GDP growth forecast: From 6.7% to 6.3% for FY25, GDP growth declined to 5.4% between July-September.
Morgan Stanley has revised the estimate of India’s Gross Domestic Product (GDP) growth rate for FY 25 to 6.3%. Multinational Investment Bank and Financial Services Company had earlier estimated this at 6.7%.
Morgan Stanley had earlier estimated India’s growth rate at 6.7% for FY25. Morgan Stanley has made this downgrade after the growth slowdown in the quarter ending September 2024.
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5. Swiggy losses of ₹626 crore in July-September quarter: Revenue increased by 30% to ₹3601 crore; Shares rose 14% after listing
Online food delivery platform Swiggy has suffered a loss of Rs 626 crore (consolidated net loss) in the second quarter of the financial year 2024-25. The company had suffered a loss of Rs 657 crore in the same quarter last year. The company’s loss has reduced by 4.72% on an annual basis.
Revenue increased by 30.33% to Rs 3601 crore in the July-September quarter. The company had generated revenue of Rs 2763 crore in July-September 2023-24. Earnings from selling goods and services are called revenue. Swiggy was listed in the stock market on November 13, since then its share has increased by 14.18%.
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6. Indigo sues Mahindra for trademark infringement: Airline objects to ‘6E’ in electric car ‘BE 6E’, company says there is no scope for dispute
Inter Globe Aviation, the company that operates Indigo, has filed a case against car manufacturing company Mahindra Electric Automobile Limited. Indigo has alleged trademark infringement over the use of ‘6E’ in the company’s recently launched electric car ‘Mahindra BE 6E’.
The matter was presented before Justice Amit Bansal in the Delhi High Court today i.e. Tuesday (3 December 2024), but he recused himself from it. The case may be heard on December 9.
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Also see who were the top 10 richest people in the world yesterday…
Know the condition of tomorrow’s share market and gold and silver…
Know the latest price of petrol, diesel and gas cylinder…
