GST , Force Motors, PayU India, Bitcoin Drop, Apple & Meta, Etc

Market Briefs

Main Briefs

GST Debate: States Fear Revenue Loss from Fuel Tax Inclusion

State governments may resist including petroleum products under the GST framework due to their reliance on fuel taxes for revenue. This resistance stems from concerns about losing a substantial income source, which is crucial for funding various state projects and services.

Key Points:

• Fuel Tax Dependency: States heavily rely on fuel taxes for revenue.

• GST Impact: Inclusion in GST could lead to significant revenue loss.

• State Opposition: Likely resistance from state governments.

• Financial Concerns: Revenue crucial for state-funded projects and services.

• Policy Debate: Tension between national and state financial priorities.

Indian Briefs, You Can’t Miss:

1. Adani and Hindalco Eye New Ventures as Hindustan Copper Plans Mine Development.

2. FSSAI Demands Urgent Food Safety Reforms Amid Shocking Contamination Findings.

3. Tata Motors' New Strategy: Demerging CV and PV Units for Better Synergies.

4. Kotak Mahindra Bank Plans Massive Expansion with 200 New Branches by FY25.

5. Biocon Biologics Receives EMA Approval for Bevacizumab Production in Bengaluru.

6. Force Motors Embarks on Digital Transformation with EY-Parthenon Partnership.

7. Passenger Vehicle Sales Forecasted to Rise 3-5% in Current Fiscal Year.

8. Strong Growth: PayU India’s FY24 Revenue Climbs 22% to $1.1 Billion.

World Briefs

• Nvidia's Market Value Plummets by $400 Billion Amid Correction Phase.

• Apple Expands Vision Pro App Ecosystem in China with Alibaba, JD.

• Crypto Crash Continues: Bitcoin Faces Another Major Drop.

• Canada Considers New Tariffs on Chinese Electric Vehicle Imports.

AI Briefs

• IndiaAI Initiative: Government to Announce GPU Tender for AI Infrastructure Soon.

• OpenAI Expands Capabilities with Acquisition of Remote Collaboration Platform.

• AI for All: Meta Releases Chatbot to Entire Indian Market.

• Tech Titans Unite? Apple and Meta Consider AI Partnership.

Company Of The Day

Company Name: Musashi Seimitsu Industries

• Founder: Miharu Otsuka

• Year Of Foundation: Apr 1938

• Headquarter: Toyohashi, Aichi, Japan

• Industry:

  Musashi is a global Automotive supplier that produces a variety of propulsion products for vehicles.

• Why Is It in the News?

  Musashi Auto Parts India, a subsidiary of Japanese company Musashi Seimitsu Industries, has started making e-Axles for electric two-wheelers in India. The company plans to invest Rs 160 crore in its EV business in the first phase.