At a time when consumers increasingly embrace green mobility solutions, it is not electric cars but hybrids that are taking the lead, as automotive sales data indicate. Since January, 64,097 electric cars have been sold compared to 266,465 hybrids, according to data from the ministry of road transport and highways' Vahan dashboard. Hybrid car sales have surged from 4.42 per cent of the 4.1 million cars sold in calendar year 2022 to 7.2 per cent this year.
'Government's focus should be on the expenditure side in this Budget, not so much on the taxation side.'
At a time when consumers increasingly embrace green mobility solutions, it is not electric cars but hybrids that are taking the lead, as automotive sales data indicate. Since January, 64,097 electric cars have been sold compared to 266,465 hybrids, according to data from the Ministry of Road Transport and Highways' Vahan dashboard. Hybrid car sales have surged from 4.42 per cent of the 4.1 million cars sold in calendar year 2022 to 7.2 per cent this year.
In Punjab, more than 9,000 people were evacuated in Patiala, Rupnagar, Moga, Ludhiana, Mohali, SBS Nagar and Fatehgarh Sahib districts, officials said on Tuesday.
With just a month left in this financial year, electric two-wheeler sales, so far, are at just 62 per cent of the ambitious target of 1 million units set for 2022-23 by the NITI Aayog. According to VAHAN data, compiled by the Society of Manufacturers of Electric Vehicles (SMEV), 620,006 units of electric two-wheelers were sold across the country in FY23 until February 21. Though the industry may miss the 1-million target, sales in FY23 are already up 146 per cent from 249,621 units sold in FY22.
Local Deputy Superintendent of Police Ramana Murthy maintained that since the lockdown was in force and the inter-state borders have been sealed, no vehicle or person could be allowed into the state.
Subsidies have been stopped for several manufacturers that are under investigation for alleged violations of local-sourcing rules.
A man was shot dead in police firing in Telangana's Secunderabad, trains went up in flames, and public and private vehicles attacked, as railway stations and highways turned into battleground in many states on Friday amid burgeoning protests against Agnipath, the contentious defence recruitment scheme.
The Railways cancelled 234 trains while 340 trains have been affected so far due to protests against the Agnipath scheme for recruitment in the defence services, the Railways said on Friday.
Finance Minister Nirmala Sitharaman is scheduled to address the post-budget meeting of the RBI's central board on Monday and highlight key points of the Union Budget 2022-23, including the fiscal consolidation roadmap and high capex plan. It has been a custom that the finance minister addresses the RBI board, consisting of RBI Governor and existing four deputy governors, after the Budget. The meeting has been scheduled for February 14 where she would be addressing the board members and talk about announcements made in the Budget to perk up growth hit by three waves of COVID-19, sources said.
India ranked 107 out of 121 countries in the Global Hunger Index 2022 with its child wasting rate at 19.3 per cent, being the highest in the world.
On Imtiaz Ali's 50th birthday on June 16, Joginder Tuteja looks at his brand of films.
The institutional portion was subscribed 143 times, the wealthy investor portion by 360 times and the retail investor portion by 24.5 times.
Of the cash outgo, Rs 64,598 crore is for enhanced expenditure on fertiliser subsidy under Atmanirbhar Bharat Abhiyan 3.0 and Rs 20,466 crore for the capital outlay in defence services.
In years past, we often approached the Budget expecting to see changes in direct and indirect taxes. Those days are behind us. The Budget of today seeks to expand the economy and keep it at the forefront of technology, observes Harsh Goenka.
The Reserve Bank of India on Thursday kept the benchmark interest rate unchanged at 4 per cent and decided to continue with its accommodative stance against the backdrop of an elevated level of inflation.
India's budget for the fiscal beginning April focuses on giving a boost to the ongoing economic recovery through a sharp increase in capex spending but is short on major growth-enhancing structural reform announcements, Fitch Ratings said Wednesday. The deficit targets present in the Union budget 2022-23 by Finance Minister Nirmala Sitharaman on Tuesday "are a bit higher than our forecasts when we affirmed India's 'BBB'/Negative sovereign rating in November," said Jeremy Zook, director and primary sovereign analyst for India, Fitch Ratings. While it was widely expected that the fiscal deficit will be lower than the targeted 6.8 per cent of the GDP in the current fiscal year ending March 31, 2022, Sitharaman put the number at 6.9 per cent.
Over a week-long dharna led by Kirori Bainsla on railway tracks and highways had inconvenienced travellers.
Terming infrastructure as the "backbone" of any nation's development, Goyal while presenting the interim Budget for 2019-20 in the Lok Sabha said India aspires to be a USD 10 trillion economy in the next eight years, and on the anvil is next generation infrastructure of roads, railways, seaports, airports, urban transport, gas and electric transmission and inland waterways.
She also took a swipe at the Bharatiya Janata Party over its defeat in the just-concluded Himachal Pradesh assembly elections, saying the ruling party's president could not hold on to his home state. "Who is the Pappu now?" she asked.
'Increased allocations for MNREGA could have provided the much needed push to rural demand and consumption at a time when recovery continues to remain uneven.'
The COVID-19 lockdown had wreaked havoc on her mental health to such an extent that discus thrower Kamalpreet Kaur had started trying her hand in cricket to handle the psychological toll of the shutdown.
Jaitley said an effective multi-modal logistics and transport system will "make our economy more competitive.
The government has budgeted for total expenditure of Rs 34.83 lakh crore or 6.8 per cent of GDP. While the net tax revenue rose from Rs 5,75,697 crore in October 2020 to Rs 10,53,135 crore till October 2021, a growth of 82.93 per cent annualized, total expenditure rose only by 9.95 per cent, led by infra spending to Rs 18,26,725 crore from Rs 16,61,454 crore during the same period, the RBI said in the financial stability report.
Finance Minister Nirmala Sitharaman in his Budget speech said that India's FDI inflows in 2018-19 grew by 6 per cent to $64.37 billion.
Union Minister Nitin Gadkari was on Wednesday given the additional charge of portfolios held by Gopinath Munde who died in a road accident in New Delhi.
Niti Aayog's plan to create a 'New India' in less than four years should invite scepticism, argues T N Ninan.
Incessant downpour battered several states, including Kerala, Maharashtra and Karnataka, on Friday, with landslips and floods throwing normal life out of gear.
The Reserve Bank's growth projection for next financial year is lower than 8-8.5 per cent projected by the finance ministry in the recent Economic Survey which was tabled in Parliament on January 31. Unveiling the bi-monthly policy, RBI governor Shaktikanta Das said, "Recovery in domestic economic activity is yet to be broad-based, as private consumption and contact-intensive services remain below pre-pandemic levels."
The ministry also wants to extend support to states through a special provision from the proposed Rs 25,000 crore fund for electric bus and personal rapid transport initiatives.
While some states have proposed to dilute the hefty penalty provisions in the Act, there are those like West Bengal which have refused to implement right away.
India wasn't applying widespread crash testing like foreign countries do, so manufacturers didn't see the need for an investment focus on safety. Customers rarely walked into showrooms asking for the safest car. They wanted the cheapest or the most fuel-efficient or the best-looking car.
Our country needs massive investment in access of Rs 50 lakh crore in infrastructure to increase growth of GDP and integrate the nation with a network of roads, airports, railways, inland water and to provide good quality services to the people: FM
The road, the alternative link between Kashmir and rest of the country, was closed after the season's first heavy snowfall in the Jammu region.
The last three prime ministers who served full terms started out in their early 70s. Mr Modi is younger and fitter than all of them. But he needs to find it in him to change course if he is to beat the odds, notes T N Ninan.
Investment in infrastructure was necessary for the economy, as power shortages, inadequate transport and poor connectivity affect overall growth performance, as per the Economic Survey 2019-20 tabled in Parliament by Union Finance and Corporate Affairs Minister Nirmala Sitharaman. "To achieve GDP of USD 5 trillion by 2024-25, India needs to spend about USD 1.4 trillion (Rs 100 lakh crore) over these years on infrastructure so that a lack of infrastructure does not become a constraint to growth," it said.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
The companies stayed cautious about making fresh commitments and about 46 per cent saw no change in investment levels.
'The projects that the government started to bring within Goa were totally anti-Goa and anti-people.' 'Can anyone describe a project as development when it is going to cause wanton destruction of people's houses, their surroundings and livelihoods and destruction of forests?'
Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours, As India emerges from the COVID-19 crisis, the ninth Budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
