The 2013-14 Budget continues to focus on growth in predominantly primary sectors like agriculture, infrastructure and education. This growth will in turn support the growth in other sectors including the automobile industry.
The 2013-14 Budget continues to focus on growth in predominantly primary sectors like agriculture, infrastructure and education. This growth will in turn support the growth in other sectors including the automobile industry.
In order to check the abnormal surge in edible oil prices during Diwali festivities, as many as 18 states are in the process of imposing stock holding limits on oilseeds and edible oils after being empowered by the Centre for doing so. Of the 18 states that are in the process of imposing stock limit on my edible oils apart from UP, include Rajasthan, Gujarat, Maharashtra, Odisha, Kerala, Jharkhand, Chhattisgarh, Andhra Pradesh, Tamil Nadu, Tripura and the Union Territory of Chandigarh. Of the 18, Uttar Pradesh, has already imposed stock limits on edible oils, the Centre was informed with as many as 23 states to discuss ways and means to ensure further easing of edible oil prices.
On the 134th birth anniversary of the chief architect of the Indian Constitution, Utkarsh Mishra revisits three incidents from Dr B R Ambedkar's life that lay bare the deeply entrenched nature of caste prejudice.
India slashes sensitive list for LDCs under SAFTA.
Petrol attracts a total excise duty of Rs 17.46 per litre.
Exporters on Thursday demanded fiscal incentives, tweaking in customs duties on certain products and credit at affordable rates in the forthcoming Budget to boost exports and create jobs. In a pre-budget virtual meeting with Finance Minister Nirmala Sitharaman, the Federation of Indian Export Organisations (FIEO) said the depreciation of the rupee against the US dollar is affecting exports' competitiveness and the sector requires more support. "Creation of employment is the biggest challenge faced by the country...We would urge the government to provide fiscal support to units which provide additional employment in the export sector," the exporter's body said.
The Union Budget 2011-12 was a low key affair for the Telecom sector. The Budget did not mention extension of fiscal benefits under the Sec 80IA from 5 years to 10 years.
Tax incentives to have cascading effect on the capital goods industry.
According to industry sources, domestic toy manufacturers are seeing a sharp rise in sales during the current financial year. On January 1, 2021, India had banned the sale of toys that are not certified by the Bureau of Indian Standards (BIS). This meant that all factories churning out toys to be sold in India had to be certified by the bureau along with mandatory product testing, including for units abroad.
However, worries on inadequate import and issues for the FTA pacts.
Major mobile handset companies have announced reduction to the extent of 26 per cent in their prices across all the segments following the reduction of basic customs duty to 5% along with abolition of 4% SAD announced in the Mini-Budget.
Almost 40 per cent of a durable company's sales are achieved during the festival season
The reason? Price of open cell panels has gone up 15%. One of the main components in the manufacturing of TV sets, open cells contribute to 60%-65% of the manufacturing cost.
Steps such as safeguard duty in the works to plug the route
Currently, domestic supplies and commercial imports of vaccines attract a 5 per cent Goods and Services Tax, while COVID drugs and oxygen concentrators attract a 12 per cent levy.
Of the 11,000 kg imported between July 1 and August 9, around 90 per cent was brought in by two business groups which took advantage of the favourable reduction in tax incidence under GST, routing their imports through Korea.
Apple Inc has announced the India prices of the new variants of its bestselling smartphones - launched on Tuesday - as it assembles the device in the country. The new iPhone 15 range starts at Rs 79,900 for the 128 GB variant (the same price as the iPhone 14 when it was launched last year) and goes up to Rs 199,900 for the top-end Pro Max with a 6.7 inch screen and 1 TB (terabyte) storage. The world's most valuable company also launched three new upgraded Apple watches, starting with the SE at Rs 29,900 and going up to Ultra 2 at Rs 89,900.
Major edible oil companies, including Adani Wilmar and Ruchi Soya, have reduced the maximum retail price (MRP) of their products by 10-15 per cent to provide relief to consumers, industry body SEA said on Monday. The prices have been reduced by Adani Wilmar (on Fortune brands), Ruchi Soya (Mahakosh, Sunrich, Ruchi Gold and Nutrella brands), Emami (Healthy & Tasty brands), Bunge (Dalda, Gagan, Chambal brands) and Gemini (Freedom sunflower oil brands), it said. OFCO (Nutrilive brands), Frigorifico Allana (Sunny brands), Gokul Agro (Vitalife, Mahek and Zaika brands) and others have also reduced prices, it added.
India is the UK's second-largest market by volumes for Scotch, importing the equivalent of 136 million bottles, worth £146.2 million, in 2021.
Sources said GST exemption on such items would lead to blocked input tax credit, thereby increasing the cost of manufacturing and a higher price for consumers.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
'Today, let us reaffirm our commitment to strive to realise Gandhiji's dreams. His watchwords, truth and nonviolence, will continue to remain relevant for the whole world. He also taught us that rights and duties are but the two sides of the coin - indeed, the true source of rights is duty. Today we recall his lessons in compassion too - compassion not only for our human neighbours but also for our other neighbours, namely, flora and fauna, rivers and mountains.'
Finance Minister Arun Jaitley is expected to present the Budget for 2014-15 in July.
The growth of exports to India stood out, with value up 28 per cent to 43 million pounds
The finance ministry is looking at a reworked proposal from mobile device makers on how to fight the rampant and growing smuggling of very high end phones. The proposal suggests reducing the basic customs duty (BCD) on phones which have a CIF (cost, insurance and freight or price at landing in the port) value of over Rs 35,000-Rs 40,000. The retail value of these phones is upwards of Rs 70,000.
Glass shortage in China and the rising prices of imported glass used in finished solar panels have already hit the cost of solar panel imports. The cost of solar modules imported by India have increased 22 per cent since June last year. India imports close to 90 per cent of its solar cells and modules, of which nearly 80 per cent is from China. Domestic solar equipment makers import glass panels and are the largest suppliers in China. The price of a solar module glass has increased 150 per cent in the past six months, revealed industry estimates.
Here's a quick guide to navigating and ordering from global websites.
SII's CEO Adar Poonawalla took to Twitter to announce the "philanthropic" gesture.
'Wine is an indicator of the quality of life,' says Alok Chandra.
For India to be atmanirbhar, domestic manufacturers cannot remain merely assemblers of imported parts. Manufacturing in India cannot survive on support of imports forever.
The threshold limit for deduction of tax at source has been raised for unusual income such as winnings from horse race, commission
The country's exports are expected to contract by 5.8 per cent and imports by 11.3 per cent during the second half of the current financial year, though implementation of several measures by the government would help support exports going forward, according to the Economic Survey 2021. With gradual recovery of economic activities, the survey said that imports and exports have picked up. During the first half of 2020-21 (April-September), exports dipped by 21.31 per cent to $125.25 billion while imports declined by 40 per cent to $148.69 billion.
The government can argue the change targets only those residing abroad but the fact remains that it does affect the kin and friends in India of non-residents.
Excise duties on mobile phones to be 1% without CENVAT credit or 6% with CENVAT credit. This provision will have marginal impact on telcos.
Increase in tax exemption limit by Rs 50000 is positive for the FMCG sector, as it will leave more discretionary income in the hands of consumers.
The outlay for defence sector almost remained unchanged compared to what was allocated in the interim budget on February 1.
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