In February, Maruti cut vehicle prices by between Rs 8,502 and Rs 30,984 across models after the excise duty reduction was announced.
The prayer service for Veeruji, who passed into the ages on May 27, was held at ISKCON, in Juhu, north west Mumbai.
Maruti Suzuki and other Indian companies are bracing themselves for a slump in demand after a 13-year high inflation triggered fears of curbs on consumer spending and the central bank raising interest rates, thereby hurting India Inc's expansion plans. The annual wholesale price index -- the most watched index in the country to gauge rising prices -- rose to 11.05 per cent in the last 12 months ending June 7.
Rationalisation of income tax slabs, infrastructure status for digital services and incentives to hydrogen storage as well as fuel cell development were some of the suggestions made by various stakeholders at the pre-Budget consultation meeting convened by Finance Minister Nirmala Sitharaman. The customary pre-Budget consultation meetings were held with the finance minister virtually between December 15 and December 22, as per the finance ministry statement. More than 120 invitees representing seven stakeholder groups participated in eight meetings, scheduled during this period, it said.
A drop in value of the rupee against the dollar and other major currencies may hurt Maruti Suzuki, the country's biggest producer of passenger cars, as it is slated to import as much as Rs 2,000 crore (Rs 20 billion) of auto parts in this financial year.
Maruti Udyog Ltd on Thursday said its two new plants for engine manufacturing and assembly line production will be operational by the end of the year.\n\n
Film folk arrived at the North Bombay Sarbojanin Durga Puja in Mumbai to celebrate the festival with prayers, fashion, dance and bhog.
'They have started becoming an important player, but not at the same level as they were in the earlier part of the decade.'
The Union government could target a fiscal deficit of 5.8-6 per cent of nominal GDP for 2023-24, and it should continue its capital expenditure push and look to simplify the personal income tax regime, economists recommended Finance Minister Nirmala Sitharaman and her team during their pre-Budget interaction on Monday. Starting last week, Sitharaman had eight pre-Budget consultations this time. More than 110 invitees representing seven stakeholder groups participated in these meetings, the finance ministry said in a statement. The stakeholder groups included representatives and experts from agriculture and agro-processing industry; industry, infrastructure & climate change; financial sector and capital markets; services and trade; social sector; trade unions and labour organisations; and economists.
'We now look at divestment as an opportunity for maximising the value of public assets, not necessarily as a short-term resource-raising measure.'
Maruti's strategy for the SUV segment is to arrest the decline in customers for entry level hatchbacks.
A special screening of Ajay Devgn's new release Drishyam 2 was held in Mumbai last night.
Maruti Suzuki India (MSIL) will issue equity shares on a preferential basis to parent Suzuki Motor Corporation (SMC) to acquire 100 per cent stake in the latter's Gujarat plant. This deal is expected to increase the share base of MSIL by about 4 per cent. And consequently, it will raise SMC's shareholding in Maruti by around 1.8 percentage point. "Whether it is in terms of PAT (profit after tax) or earnings per share (EPS) or dividend per share (DPS) of MSIL, the share-swap option will give shareholders a better deal than any other option such as cash payment," MSIL chairman RC Bhargava told reporters during a press conference.
Finance Minister Nirmala Sitharaman will present the much-awaited 2022-23 Union Budget on February 1. While there has been strong recovery in some sectors, touch services like hospitality, tourism and leisure continue to suffer after two Covid-19 waves. Household savings have been hit due to increased spending on health care. Consumption has still not reached pre-pandemic levels.
'Somebody was using somebody to make statements that will stir the stock market and lead to a surge.' 'A sudden surge and a sudden crash is always an ideal situation for people to make illicit gains and then siphoning off the money.'
During his first Union Budget in July 2014, former finance minister Arun Jaitley announced the setting up of an institution called 3P India, with an allocation of Rs 500 crore. The intention was to mainstream public-private partnerships (PPPs) in India. The plan was to bring together the capacities of the government and private sector to push PPP projects.
Here is the complete list of ministers in Modi 3.0 and their portfolios:
Former Congress president Sonia Gandhi, BJP chief J P Nadda and new party entrant Ashok Chavan and Union ministers Ashwini Vaishnaw and L Murugan were among the 41 candidates elected unopposed to Rajya Sabha on Tuesday while Himachal Pradesh, Karnataka and Uttar Pradesh will witness polling on February 27.
There will be no second term for President Kovind and no elevation for Vice President Naidu.
Indian consumers are likely to get respite from rising prices just before the festival season. Some consumer companies, including automakers, have indicated that they are planning to pause price hikes just before demand picks up in August, while keeping a close eye on volatile raw material prices.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Drishyam 2 is one of the biggest hits of the year, and it was reason enough for the makers to throw a party!
The Congress on Tuesday suffered a major upset in Himachal Pradesh at the hands of the Bharatiya Janata Party in the Rajya Sabha elections which were marred by cross-voting in all the three states though it won three seats in Karnataka while the saffron party pocketed an extra seat in Uttar Pradesh.
Union Finance Minister Nirmala Sitharaman will on Monday meet chief ministers and state finance ministers to discuss measures to attract private investments to help boost the economy. Finance secretary T V Somanathan said the meeting comes in the backdrop of strong economic recovery post the two COVID waves, and the central government has made a big push in Capex. The focus of this interaction will be on state-level issues, opportunities and challenges, which will enable us to go to a higher trajectory of investment and growth, he said.
The long awaited product is likely to be launched early next year.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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 Reserve Bank on Friday approved the transfer of Rs 99,122 crore as surplus to the central government for the accounting period of nine months ended March 31.
At the customary post-Budget media interactions, Finance Minister Nirmala Sitharaman and her topmost bureaucrats touched upon a number of issues. The minister said the government taxing income from digital virtual assets did not give them legitimacy and that issue was being dealt separately in the planned cryptocurrency Bill. She also expressed confidence that the Budget targets were achievable.
Even as good days continue to elude the economy at large, they seem to have arrived for Maruti Suzuki.
'It is building the country's infrastructure, and delivering it very efficiently.'
'When the average growth in the last three years was just 2.5%, how does that make us the fastest growing country?' 'They only tell you what has happened in the last 2 years; they are not taking into account what happened in FY21 on account of their mistakes.'
Modi will unfurl the national flag and deliver the customary address to the nation from the ramparts of the historic monument.
The company, which sells every second car in the domestic market, said it expected production and sales to grow between 4 per cent and 8 per cent for the financial year started in April.
A special screening of Ujda Chaman -- starring Sunny Singh, Maanvi Gagroo, Aishwarya Sakhuja, Saurabh Shukla and Sharib Hashmi -- was held in Mumbai, and quite a few film folk arrived to watch it.
Amazon's fulfilment centres, which store products of hundreds of vendors selling on the American online major's platform, are being cited by Karnataka state government authorities as a primary concern in an ongoing tax dispute.
Terms of the two dozen seats had expired last year though elections were deferred because of a delay in Panchayat polls which could not be held in time on account of the COVID 19 pandemic.
Maharashtra Governor Bhagat Singh Koshyari has written to Union Home Secretary Ajay Kumar Bhalla requesting that the adequate provision of Central security forces be made and kept ready if needed, and alleged that police remained a 'mute spectator' while offices and homes of some dissident MLAs were vandalised.
Despite a rise in input costs, leading car-makers refrain from hiking their price.
Joginder Tuteja lists the Web series coming your way in March.
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