Business news, Land value in Ayodhya quadrupled.

Land value in Ayodhya has quadrupled, while foreign investment in Gujarat has increased. And let's briefly look at the news including the fine of 4.12 crores for Mahindra.

Business news,

4.12 crore fine to 'Mahindra' company

Mahindra and Mahindra Company has said that their company has been fined Rs 4.12 crore for reasons related to input tax and education, additional tax credit balance. 

The order was issued by the Deputy Commissioner of Audit Division, Induar City, Madhya Pradesh. However, Mahindra has said that it is going to appeal against this order, and that the appellate tribunal will get a favorable verdict and the company's financial position will not be affected due to this order.

Rs 25.15 crore compensation case against Wipro officer

Wipro has sought damages of Rs 25.15 crore from its former chief financial officer, Jatin Thala.

Further, interest of 18 per cent per annum is also claimed till the date of payment. Jatin Dalal has been working at Wipro for over 21 years.

Last September, he resigned from Wipro and joined 'Cockney Cent'. The trial in this regard is coming up on January 3.

Land value in Ayodhya quadrupled

As the Ram temple is about to be opened next year, the land and property prices in Ayodhya have increased four times, according to a study by 'Anarak'.

With the arrival of major projects like the International Airport and Ram Temple, the Ayodhya real estate market has seen a boom. The average land price in Ayodhya in 2019 was Rs 1,000 to Rs 2,000 per square foot, but now it has increased to Rs 4,000 to Rs 6,000.

A fiscal deficit exceeding half of the budget estimate

The central government's fiscal deficit has crossed 50 per cent of the budget estimate for the current financial year at the end of November last year. Same last year

It was 58.90 percent during the period. In value terms, the fiscal deficit stood at Rs 9.07 lakh crore in the April-October period last year. It is 50.70 in the budget estimate

is a percentage. The government estimates the fiscal deficit to be Rs 17.86 lakh crore in the current financial year. This is 5.90 percent of the GDP.

84 percent increase in foreign investment in Gujarat

In the state of Gujarat, between October 2019 and March this year, foreign direct investment has been made to the tune of 2.39 lakh crore rupees, according to the government's report. The continuous efforts of the state government and the 'Vibrant Gujarat' global summit have been cited as the main reasons for the increase in FDI.

Compared to the last financial year 2021-22, the foreign direct investment in the state has increased by 84 percent in the last financial year.

Vari Energies to launch new stock

Waree Energies has applied to the stock exchange regulator Sebi to raise Rs 3,000 crore as a new IPO.

The company is engaged in manufacturing of Solar PV Modules in India. It has been reported that 3,000 crore new shares and 32 lakh shareholder shares are to be sold.

The amount raised is to be used for upgrading the Odisha plant and for general corporate needs.

Interest rate hike on small savings schemes

The Union Finance Ministry has ordered a 20 basis point increase in the interest rate on the 'Sukanya Samriti' and 'Selvamalasiru Savings' scheme and a 10 basis point increase in the interest rate on the three-year term deposit scheme.

These interest rates are fixed for their upcoming January-March quarter. Thus, the interest rate for this scheme will be 8.20 percent from eight; Interest on three-year term deposits will increase from seven to 7.10 per cent. There is no change in the interest rate of other small savings schemes.