The government on Monday extended the period of production-linked incentive scheme for large-scale electronics manufacturing with a focus on mobile phones by a year until 2025-26. The base year of the scheme 2019-20 remains the same but the companies will have the option to choose their five-year period either from the base year or the year 2020-21 for calculation of the incentives under the scheme. "Now we have extended the tenure of the scheme from 2020-21 to 2025-26. "Earlier, it would have ended in 2024-25.
The country's exports rose by 48.34 per cent to $32.5 billion on account of healthy growth in shipments of petroleum products, gems and jewellery, and chemicals, leather and marine goods, according to the data released by the Commerce Ministry on Thursday. Imports in June too rose by 98.31 per cent to $41.87 billion, leaving a trade deficit of $9.37 billion as against a trade surplus of $0.79 billion in the same month last year. During April-June 2021, the exports increased by 85.88 per cent to $95.39 billion.
The country's exports grew by 47.19 per cent to $35.17 billion on account of healthy growth in the outbound shipments of petroleum, engineering, and gems and jewellery, according to the provisional data of the commerce ministry. Imports during the month also rose by 59.38 per cent to $46.40 billion, leaving a trade deficit of $11.23 billion. Exports of petroleum, engineering, and gems and jewellery in July increased to $3.82 billion, $2.82 billion and $1.95 billion respectively, the data showed.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
The Bharatiya Janata Party's Uttar Pradesh vice president Arvind Kumar Sharma will be reaching out to residents of western UP with public meetings in Noida, Greater Noida and Bulandshahr from Friday.
The government may drop its plan to decriminalise cheque bounce offences after there were requests to continue the existing system, which can potentially make people honour their financial commitments due to fear of prosecution. It would seek directions from a Supreme Court panel formed to expedite the pendency of cheque bounce cases before taking a final call. Last year the Department of Financial Services (DFS) had proposed decriminalising minor offences, which included cheque bouncing, for improving business sentiment and unclogging court processes.
After stepping down from the board with effect from September 30, he will remain as Chairman Emeritus of the FMCG firm, according to a statement issued on Wednesday. The 79-year-old industrialist passed on the baton of GCPL to his younger daughter Nisaba Godrej in 2017 after leading the company for 17 years.
'Traders have stocked up for upcoming festivals and will make a loss if stores remain shut now. We suffered last year. We can't suffer again. There is no scientific basis for closing all commercial establishments. How long will the government keep them shut?'
Maharashtra Chief Minister Uddhav Thackeray on Saturday said he had tried to contact Prime Minister Narendra Modi on phone regarding the oxygen supply for the state but the PM was not available since he was busy campaigning for the West Bengal elections.
Mann, 48, is a two-time MP from Sangrur and is the party's state unit chief.
Trade deficit during the month narrowed to USD 14.54 billion from USD 15.3 billion in January 2020. It was USD 15.44 billion in December 2020.
Veteran doctor and educationist from Karnataka Belle Monappa Hegde and archaeology legend B B Lal were also given the Padma Vibhushan awards.
The Padma Award ceremonies scheduled for March 26 and April 3 stand postponed, a home ministry official said.
No longer, Virendra Kapoor points out, are these awards given on the recommendation of ministers, or the Delhi-based liaison men who had ruled the roast till 2014.
Delhi's air quality was again in the severe category with the 24-hour average AQI recorded at 403 after remaining in the 'very poor' category till Tuesday morning, when the AQI was recorded at 396.
An area of worry relates to simplification of the refund procedure where the inverted duty structure prevails
The Centre has asked all states to set up special search committees to find out talented people who could be nominated for Padma awards but so far have been left out of consideration despite their exceptional contributions.
Enthused by rising potato prices after a prolonged slump, Pradeep Sharma was planning to sow the crop on his 15-acre farm near Agra slightly earlier than usual. The delayed departure of the southwest monsoon also prompted his decision, since the good soil moisture would have saved at least one initial irrigation. But the acute shortage of diammonium phosphate (DAP), a crucial nutrient ahead of the sowing season for potatoes, nipped those hopes in the bud. DAP is the second-most used fertiliser in the country after urea.
The meet will provide J&K an opportunity to showcase its strengths, strategies and potential. It will also help allay fears and apprehensions in the minds of trade and business community outside the state.
The weekend curfew, aimed at breaking the chain of spiralling coronavirus infections, was clamped at 10 pm on Friday and will continue till 5 am on Monday.
The Biden Administration on Monday said it was now focused on completing its evacuation mission from Afghanistan by August 31, the deadline for removing all American troops from the country.
It does feel like we are close to the end of the rupee's rally, says Jamal Mecklai.
President Ram Nath Kovind presented Padma awards to 73 individuals, some posthumously, at a ceremony held in the Rashtrapati Bhavan here on Monday.
But their trajectory and direction have been largely influenced by politics and the political leadership's understanding of how the economy needs to be managed, explains A K Bhattacharya.
"If you have questions on the economy, you should ask those..," he said when media persons kept fielding questions about his alleged hate speech.
Former cricketer Gautam Gambhir, actor Manoj Bajpayee, mountaineer Bachendri Pal, ISRO scientist Nambi Narayanan and Odisha tea seller D Prakash Rao were among the recipients of the honour.
Prime Minister Narendra Modi on Saturday hard sold his government's reforms spanning from manufacturing to taxation to labour, saying they have changed the world perception about the country from 'why India' to 'why not India' and went on to quote record foreign investment during the pandemic as a testimony to that. Speaking at industry association Assocham's Foundation Week event, Modi also said agriculture reforms brought by his government six months back have started benefiting farmers. The reforms in the last six years have influenced in changing the sentiment of the industry from 'why India' to 'why not India' in investing.
The meet will see Goyal batting for structural reforms at the WTO, where India has repeatedly called for reforms, especially in the dispute resolution mechanism that has effectively been held hostage by the US.
India and Britain have decided to give a fresh impetus to increase bilateral trade which crossed over 5 billion pounds last year.
The confidence that GST Network is capable of handling the returns, payments, reconciliation, refunds, etc., has been badly shaken.
Speaking at an Assocham event, Modi said the recent cut in corporate tax has brought rates to all-time low for businesses, adding that labour force should also be taken care of.
To deny visa to trade officials planning to scrutinise country's trade and industrial practices.
This year's Padma awards took place at the Rashtrapati Bhavan, New Delhi on Monday. Mohanlal Viswanathan, Prabhu Deva and Shankar Mahadevan have been conferred with honours. Take a look.
The survey was conducted in major places like Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Ahmedabad, Hyderabad, Pune, Chandigarh and Dehradun on 'Budget 2013: Common man's expectations from the FM', the industry body said.
He said the farmer's agitation in Punjab against the new farm laws could lead to 'serious consequences' for national security and alleged that China and Pakistan were seeking to disturb peace in the country's border state. Stressing that his intention was not to disturb peace, Singh said he was trying to 'save' his state's farmers as the Centre was 'playing with' their livelihoods.
The government on Monday asked Japanese trade and industry to shed caution and take a fresh look at India as an investment destination.
Ratan Tata is passionate about British manufacturing. There will be no change. It will be the same culture, the charitable culture.
The proposal was put forward by Telecom and IT Minister Kapil Sibal who is on his four-day visit to Japan to attract investments in the Indian ICT sector.
According to a senior official of the Customs Department, the Finance Minister will hold review meeting on Service Tax Voluntary Compliance Encouragement Scheme.
The last fiscal has been quite harsh on the businessmen due to several factors ranging from a slump in the economy coupled with a slowdown in the European Union.
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