The real estate sector wants "high-impact" measures, like special schemes and tax breaks for developers, to revive the fortunes of the affordable housing segment in the country, multiple executives told Business Standard. This segment has been struggling since the Covid-19 outbreak, in contrast to larger and costlier homes which have been selling like hot cakes. The demand comes at a time when the government is taking suggestions from industry players before tabling the General Budget in the Parliament next month.
'There will be 200 ITIs developed as hubs, while 800 will be developed as spoke, connected with five National Skill Training Institutes.'
From its lows over the past month, the stock of footwear major Campus Activewear gained 13 per cent to Rs 280.4 a share. The gains came on the back of better than expected operating profit margins in Q4, reduction of debt and expectations of market share improvement. The company expects volume growth, which has thus far missed expectations, to recover going ahead on the back of multiple triggers.
Management to be restructured to monitor integration of erstwhile Indian Airlines and Air India.
A piece of slightly negative news can cause a serious setback, warns Debashis Basu.
'We just want to play good cricket, we've been playing good cricket and that continues to be our main goal' 'New ODI rules will make players more focussed'
Giving out sports quota jobs to youth and junior athletes not a good idea: Tejaswin Shankar
The zero-duty EPCG scheme is in addition to the 3 per cent EPCG scheme that was introduced last year.
There is a shortage of 24.7 million housing units in urban areas at the beginning of the 11th Five Year Plan. Admitting the flaws in the housing sector planning for the huge gap between demand and supply, Selja said unfortunately the private sector only focuses on high-end housing and ignores low cost units.
States like Uttar Pradesh, Uttarakhand, Gujarat, Odisha, Madhya Pradesh and Chhattisgarh had on Friday announced similar incentives.
The Air India board on Wednesday approved up to 50 per cent cut in the productivity-linked incentives (PLIs) for the airline's officers and executives. "The board has approved a cut by up to 50 per cent in PLIs for officers and executives, depending upon the salaries they are drawing," an Air India spokesperson said.
'In the new coalition government, India's reform agenda may prioritise job creation and factor market reforms.'
'The Budget needs to focus more on social welfare schemes.'
A land-owning class, the Jats are a powerful community and account for 28 per cent of Haryana's population. The time, they believe, has now come for them to take revenge.
An increase in the farmer income support scheme PM Kisan Nidhi, the introduction of a 'robot tax' to fund reskilling of people who lose their jobs to artificial intelligence (AI), and a reduced income-tax (I-T) to bring relief to the middle classes - these are some of the items in the Budget wish list submitted by Sangh Parivar affiliates to Finance Minister (FM) Nirmala Sitharaman. Representatives of the affiliates of the Rashtriya Swayamsevak Sangh (RSS), such as the farmer organisation Bharatiya Kisan Sangh (BKS); trade union Bharatiya Mazdoor Sangh (BMS); Laghu Udyog Bharati, which works for micro and small industries; and Swadeshi Jagran Manch (SJM), which works on economic and policy issues, met the FM and other officials over the last couple of weeks as part of the pre-Budget consultations.
'Three manufacturing sectors can create jobs by the million: Apparel, food, and electronic assembly.' 'Let's talk to them and ask them what it would take to scale by a factor of ten,' suggests Naushad Forbes.
Air India has deferred payment of productivity-linked incentives to its employees for July till August 20 as part of cost-cutting measures, even though most of the staff would be getting their salaries on time.
The labour ministry on Monday rebutted a recent report by Citigroup which forecast that India will struggle to create sufficient employment opportunities even with a 7 per cent growth rate. The ministry in a statement said the report "fails to account for the comprehensive and positive employment data available from official sources such as Periodic Labour Force Survey (PLFS) and the Reserve Bank of India's KLEMS data."
'India needs many more job creators, both in manufacturing and services, to make it big.' 'For that, the red carpet must be rolled out fully and for all investors without holding back,' suggests Nivedita Mookerji.
In seeking visa approvals for engineers from China, the company has reasoned that India lacks the expertise to set up such a solar facility.
Wipro's new CEO Srinivas Pallia will receive an annual remuneration of up to $6 million (about Rs 50 crore), according to a regulatory filing by the Bengaluru-headquartered IT company. Earlier in April, Wipro announced the appointment of Pallia as its new CEO and MD, following the sudden resignation of Thierry Delaporte. Delaporte's annual salary of over Rs 80 crore at Wipro had made headlines last year.
India's electric two-wheeler (E2W) sector is expected to cross the one million mark in 2024 fuelled by rising demand, increased production, and affordability, industry experts said, even as several original equipment makers are expanding their penetration to rural areas. Improved battery technology and innovative features are also likely to fuel growth, they said. "E2W sales will breach the 1-million mark in 2024 as the demand for electric two-wheelers is expected to continue growing due to factors such as environmental awareness, government incentives, and improvements in technology," Hyder Khan, chief executive officer (CEO), Godawari Electric Motors, said.
Tata Motors, the market leader in electric four-wheeler space, has sought incentives for its Tiago EV under the government's production-linked incentive (PLI) scheme, group chief financial officer P B Balaji said on Tuesday. The Mumbai-headquartered firm has applied for all variants of the Tiago, which recently hit a sales milestone of 10,000 units. "The Automotive Research Association of India certification is done.
Payouts to key management personnel in non-banking financial companies (NBFCs) are under the banking regulator's scrutiny. Top industry officials said this is a follow-through on the Reserve Bank of India's (RBI's) circular of April 29, 2022, which asked NBFCs in the "middle" and "upper" layer of its four-tiered scale-based regulatory (SBR) framework to put in place a board-approved compensation policy.
If states have to fall in line with MSPs declared by political parties, they will have to do so in violation of central order or bear the full expense of the surplus procured at above MSP rates.
Chief Minister Manohar Parrikar yesterday said the state has already slashed Value Added Tax on Air Turbine Fuel refuelled in the state from 22 percent to mere 12.5 per cent.
The BSA Gold Star is launched....Ola Enters e-motorbikes Biz... Bajaj, TVS To Enter e2Ws Market...
A day ahead of the interim Budget, India slashed import duty on spare parts, like battery cover, lens and SIM socket, used in mobile phone manufacturing to 10 per cent, from 15 per cent. The duty cut is aimed at boosting local production and exports, as well as reducing prices in local markets. The finance ministry on January 30, notified the cut in duty on all goods for use in manufacture of cellular mobile phones to 10 per cent.
'The consensus was that the debate was between looking backward and looking forward.' 'Trump, with his great enamourment of his own 'achievements,' was obviously looking backward, while Harris, nearly 20 years his junior, was focussing on the future, with hope,' notes Shreekant Sambrani.
Minister for Development of North Eastern Region Jitendra Singh said the government is trying to woo industries to the eight Northeastern states so that enough jobs are created for the youths of the region.
Gavaskar also urged the BCCI to have a look at the scheduling of the Ranji Trophy, which ran from a little over two months from January 5 to March 14 this year.
The exclusive club that dominates the global semiconductor fab scenario is about to get a new member. Taiwan, South Korea, and China control nearly 70 per cent of the global capacity. SEMI, the global industry body for semiconductor and electronics design and manufacturing, projects all fabs collectively will churn out 30 million wafers a month this year.
A total of US$10 million will be distributed by the ICC among all winning teams throughout the tournament.
Few finance ministers announce any taxation measure that could upset the stock market. Ms Sitharaman decided to take that risk, observes A K Bhattacharya.
Dixon Technologies right now is a beehive of activity. It is building a new facility in Noida to make 1.3 million laptops for Taiwanese PC maker Acer. The facility must be up and running in four months. The pace of activity will only increase. Last week Dixon won a similar contract from Lenovo, the Chinese personal computer maker and the third largest information technology (IT) hardware brand in India, to assemble laptops and notebooks. Though the clientele in these two cases is Taiwanese and Chinese, Dixon is a company reaching for the stars with its feet planted firmly in the Indian government's policy.
As the number of students seeking higher education abroad continues to rise, several countries are implementing new rules. Gaurav Batra, CEO and founder of Infinite Group highlights how these changes will impact Indians who are planning to study abroad.
'This time, triumph will belong to the brother who promises a brighter future, not the one who merely remembers his sisters during elections and then vanishes.'
'The Indian private sector knows how to build and run educational organisations, what is needed is a large dose of removal of restrictions.' 'Government restrictions hold back universities in India from launching medical schools,' argue Ajay Shah and Vijay Kelkar.
In the run-up to Apple CEO Tim Cook's visit to India, government officials are finalising the talk points with the Cupertino-headquartered tech major. Officials said that the government would like Apple to "deepen" the company's engagement in the manufacturing and assembly of iPhones in the country and not limit itself only to the minimum commitments made under the production-linked incentive (PLI) scheme for mobile devices. The conversations between the two sides are likely to focus on that.
