The central government approved a proposal to levy a "Green Tax" on old vehicles that are considered polluting to the environment. According to a report by KPMG, the last quarter of CY 2020 saw over $3.1 billion flow into the Indian start-up sector, largely led by the unicorns. Tata Consultancy Services (TCS) has surpassed Accenture again to become the world's most valued IT services company after its market capitalisation surged to $169.9 billion.Read for more top stories from the world of business and economy:
Green Tax has been proposed to dissuade people from using vehicles that damage the environment, motivate them to switch to newer, less polluting vehicles and to reduce overall pollution level and make the polluter pay for it.
In the last quarter of the calendar year 2020, India saw 294 deals valued at around $3.16 billion. While VC investment dipped compared to the previous quarter, deal volume jumped to its highest level since Q1'18 says KPMG's latest report.
TCS surpassed Accenture to become world's most valuable information technology firm for the first time on October 9, 2020. In India, TCS share is currently trading 0.42 per cent or Rs 13.9 up at Rs 3,317 on NSE, as compared to its previous session close of Rs 3,303.1.
While measures announced by the government in 2020 to kickstart the economy have been in the right direction, the real estate sector is hoping for the upcoming Budget to give a shot on the arm for the beleaguering sector.
The Union Budget on February 1 might give reasons to the market to scale new highs with the announcement of steps to take the economy out of recession.