'The US has agreed to negotiate with us a mutually beneficial bilateral trade agreement, which will go for reduction of tariffs on both sides so that our trade can grow.'
The new guidelines, effective from August 1, aim to expedite visa approvals for nationals from China and other countries sharing land borders with India.
The fund will promote domestic shipbuilding of all types and sizes to reduce India's dependence on foreign ships.
'Each state is unique, but when it comes to finance, the fundamentals cannot be different.'
To boost domestic manufacturing under the Make in India initiative and reduce dependency on imports, the government is expected to announce in the Budget an increase in the minimum local content requirement for public procurement, with certain sectors being granted exceptions. Currently, firms producing goods, services, or works with at least 50 per cent local content are classified as Class-I local suppliers and are preferred the most in government procurement.
Pakistan military spokesperson Lieutenant General Ahmad Sharif Chaudhry told a hurriedly called press conference in Islamabad at around 4 am that th Pakistan air force's Nur Khan (Chaklala, Rawalpindi), Murid (Chakwal) and Rafiqui (Shorkot in Jhang district) airbases were targeted.
'When Prime Minister Modi met President Trump, they agreed to initiate a bilateral trade dialogue.' 'It makes sense to give these negotiations a chance.'
Do we have enough trained oncologists and medical professionals in India to man these over 4,500 beds in the public sector?
A lot of the 100-day programmes would be 'milestone-based' with timelines for achieving targets for social-sector schemes.
'Every Indian should move to an EV, and the government should not buy any fossil fuel cars. The government should become the first driver of EV adoption.'
The number of frauds in the banking sector increased over four times in the past five years to 36,075.
'The US is strongly placed to expand its crude supplies to India.'
In its first official engagement with the Indian government, Elon Musk-led Tesla and other global automotive (auto) manufacturers sought clarification on the new electric vehicle (EV) policy, specifically regarding investment guidelines and the timeline for the domestic value addition (DVA) requirement. Officials who attended the meeting told Business Standard that the original equipment manufacturers (OEMs) tried to understand whether the complete investment would be made within three or five years and the duration they would have to achieve the 50 per cent DVA. "The consultation meeting was convened to address queries from auto OEMs.
Rahul Gandhi, the Leader of the Opposition in India's Lok Sabha, has accused the Speaker, Om Birla, of running the House in a "non-democratic style" and preventing him from speaking. Gandhi claims that he was not allowed to speak on various issues, including unemployment and the Maha Kumbh festival, despite raising his hand to speak. He also alleges that the Speaker made unsubstantiated remarks about him and adjourned the House without giving him an opportunity to respond. The Speaker, however, has urged members to conduct themselves in accordance with the rules of the House, especially the Leader of the Opposition.
The suspected undisclosed income in these cases could reach as much as Rs 15,000 crore.
'The cooperation in technology is one of the most important aspects of the visit.' 'It will have a long-lasting impact because it will shift the entire paradigm in the context of artificial intelligence and emerging technologies.'
The government is expediting visa-related issues to bring technicians to India from any country, not just China, as and when required, to ensure the smooth implementation of the flagship production-linked incentive (PLI) scheme aimed at boosting domestic manufacturing. "If those under the PLI scheme need to get their equipment installed, we try to expedite the ability to get technicians into India from any country, whichever it may be," Union Commerce and Industry Minister Piyush Goyal told Business Standard in an interview.
'As part of our D33 strategy, the plan is to establish 30 unicorns in Dubai within the next 10 years.'
'Additionally, the significant employment multiplier will boost direct and indirect jobs of up to 1.1 million.'
If it becomes a reality, the Chennai-based company will become the first private player from India to conduct such a mission to the lunar surface.
The government-backed Open Network for Digital Commerce (ONDC) is likely to start levying user charges in the current financial year.
Any government support or incentive to help exporters deal with high freight and insurance costs is unlikely.
'We have to be prepared for the larger disruption that is likely to take place.'
'Spend, but create assets, spend but make sure that people benefit from it.' 'This has been a beautiful guiding principle. And I think as a finance minister I owe so much to the prime minister for keeping this path clear before us.'
'Tomorrow I will go back home, clean my bed, pay my rent, all the normal things that a person does.' 'I'll still be the same person for my friends, my parents.' 'That grounding is the real thing, rather than the feeling of having made it.'
The Life Insurance Corporation of India has the wherewithal to acquire a composite license, a top source aware of the development told Business Standard, adding that the insurance behemoth may look into entering the health and general insurance segments. "LIC has the scale, capacity, IT infrastructure, and the distribution reach to take advantage of the composite license. "LIC is looking at organic as well as inorganic growth opportunities.
'Due to the fear caused by the Byju's crisis, several employees have chosen to take up entry-level jobs in firms other than edtech.'
The income-tax (I-T) department has started scrutinising cases for the assessment year (AY) 2018-19 to determine which of them need to be reopened, a process that might result in a raft of tax notices. This follows this year's Union Budget move to reduce the time limit for tax reassessment from 10 years to five in cases of escaped income. The new provision becomes effective on September 1 and will make past assessments for AY 2018-19 time-barred.
The government is planning to introduce legislative changes to the Foreign Exchange Management Act (Fema) regulations, with a focus on easing the pathway for inflows from a foreign portfolio investor to transition seamlessly into foreign direct investments (FDI) once the FPI surpasses the 10 per cent ownership threshold in a company. This move stems from multiple requests by foreign investors seeking to streamline the reporting requirements that arise when their stakes in Indian firms cross the 10 per cent mark.
The government will look to standardise rules around operations protocol during failure of automatic signalling.
Amid the Budget preparation, the revenue department is assessing the feasibility of further adjustments to maximise benefits for salaried individuals.
Government departments have been tasked with identifying major goals, which will include annual targets from the financial year 2024-2025 to 2028-2029.
India has flagged concerns over non-tariff barriers (NTBs) faced by its exporters with the Russian government, commerce secretary Sunil Barthwal said on Monday. NTBs faced by Indian exporters are mainly in sectors such as marine products and pharmaceuticals.
'Because the same stupid questions are repeated year after year when an exam should provoke the students to think and not ask repetitive questions.' 'So, what do coaching institutes do? They teach students to memorise these questions and answers without understanding the subject.'
The National Informatics Centre uses AI to automate document analysis and detect fraud in government departments.
Whether it's navigating the labyrinthine Cu Chi Tunnels, boating on the Mekong, marveling at ancient Champa temples, or the Mekong Bay, Vietnam promises a journey like no other.
'We can hope to see a lot of creation of jobs in the days to come.'
The government is formulating guidelines on the use of ethylene oxide (ETO) in samples of spices for the domestic market and exports, people aware of the matter said, as it plans to step up efforts to make quality checks more stringent. ETO, a flammable, colourless gas, is typically used as a disinfectant. It is also used as a sterilising agent and an insecticide to reduce microbial contamination in spices. However, its use is considered carcinogenic, beyond permissible limits.
The Budget announcement of zero tax for earnings upto Rs 12 lakh per annum and the rejig of tax slabs across the board should prompt more than 90 per cent of individual taxpayers to embrace the new tax regime as compared to the about 75 per cent as of now, CBDT Chairman Ravi Agrawal said. Agrawal also highlighted the government's focus on "non-intrusive" tax administration through enhanced use of Artificial Intelligence (AI) and simplified tax processes for common taxpayers. He emphasized the benefits of the new tax regime (NTR), which offers simple calculations and allows taxpayers to file their ITR without professional help. The CBDT chief stated that the Budget provisions related to income tax payment benefit all income earners, not just those earning Rs 12 lakh per annum, creating a positive sentiment in the economy and propelling growth. The department is also harnessing technology, including AI and data analytics, to widen and deepen the tax base, resulting in increased compliance and tax revenue. Agrawal further highlighted the positive impact of data availability and simplified tax processes on compliance rates, citing examples of taxpayers filing revised returns and paying taxes after being prompted by the department's data analysis.
The steep cut in Customs duty on silver in the FY25 Budget to 6 per cent from 15 per cent may provide the government temporary relief by checking the spurt in silver imports from the United Arab Emirates (UAE) under the Comprehensive Economic Partnership Agreement (CEPA). In FY24, silver imports from the UAE jumped to $1.7 billion from only $11.18 million in FY23, according to commerce department data. In May, about 87 per cent of India's silver imports came from Dubai.
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