Kotak Mahindra AMC MD Nilesh Shah urged Finance Minister Nirmala Sitharaman to stay vigilant of any rise in India’s gold imports after Union Budget announced a cut in import duty on gold. “With the [cut], gold imports will rise...It shouldn’t happen that our gold imports start exceeding our oil imports,” Shah said. “We’re importing about $35-40 billion gold,” he added.

Income Tax Department has clarified that cost of acquisition for properties bought before 2001 will be the fair market value as of April 1, 2001, or the original purchase cost for calculating long-term capital gains (LTCG) tax. The fair market value should not exceed stamp duty value, it added. The Union Budget removed indexation benefit for properties purchased after 2001.

Finance Minister Nirmala Sitharaman has said that PM Narendra Modi wanted that the Budget should be "simple" and there should be no "fine print". She also recalled how the Budgets used to be "so complex" and how late lawyer Nani Palkhivala would do sessions to explain them. She added that Palkhivala's sessions were called the "budget of the people".

Sanam Kapoor, an average Indian guy with a stable job at HCL, dreamed of owning a business. In the early 2010s, he quit his job and opened La Pino'z, a pizzeria in Chandigarh. Competing with giants like Domino's, he introduced single-slice pizzas and customized flavours for local tastes. La Pino'z now owns over 500 outlets and is expanding globally.

Google has partnered with Bengaluru-based EV startup ElectricPe. The partnership aims to integrate EV charging station information into Google Maps, providing users with real-time availability and status of EV charging points. The integration will reduce range anxiety among EV users by allowing them to plan their journeys better.

Markets regulator SEBI has barred fugitive businessman Vijay Mallya from accessing the securities market for 3 years. The decision comes after the SEBI found that Mallya was indirectly trading in shares of his own group companies. Mallya carried out layered transactions through his overseas companies to keep his identity masked and traded in securities market, defying regulatory norms, SEBI said.

Net profit of InterGlobe Aviation, the operator of low-cost airline IndiGo, fell 11.7% year-on-year to ₹2,728 crore for the quarter ended June 30 for the financial year 2024-25. This mainly happened after a 22.7% rise in the aircraft fuel expenses. Net profit in the year-ago period stood at ₹3,090 crore. Revenue from operations for IndiGo rose 17.3% to ₹19,570 crore.

LinkedIn co-founder Reid Hoffman predicts that traditional 9-5 jobs will vanish by 2034, replaced by the gig economy due to AI's transformative impact. Hoffman envisions workers engaging in flexible, contract-based employment across multiple sectors. The shift will demand adaptation to new employment models, with freelancers potentially earning more than permanent employees.

India's foreign exchange reserves hit record high of $670.86 billion for the week ended July 19, data released by the RBI showed. The reserves jumped by $4 billion during the week, marking the third straight weekly increase. Foreign currency assets, which include the effect of appreciation or depreciation of non-US units like euro, pound and yen, rose by $2.57 billion.

WayCool Foods, a Chennai-based startup, has laid off over 200 employees after failing to secure funds. Previously, it laid off over 300 employees in July last year and 70 in February. The company has delayed salaries and stopped vendor payments due to stuck client collections. Despite raising 75% of a $40 million bridge round, losses increased by 89% in FY23.