The company aims to follow the government's push for environment-friendly vehicles by driving in models with green technologies.
India has demanded resumption of export benefits to certain domestic products under GSP, and greater market access for its products from sectors like agriculture, automobile, auto components and engineering. On the other hand, the US wants greater market access for its farm and manufacturing products, dairy items and medical devices, data localisation, and import duties cut on some ICT products.
Yechury said the aim should be how to protect our economy from slowdown
In absolute terms, prices will go up by Rs 5,500 to Rs 47,000, depending on the model and prevailing prices.
Maharashtra Chief Minister Prithviraj Chavan is agreeable in principle to this tax, but the government is yet to take a decision.
The policy has been finalised after nearly eight months since the Ministry came out with the revised draft in October 2015.
The tax department was given the land at Mumbai's posh location, measuring 2,786 square metre, with a minimum capacity of 100,000 sq ft, in 1992. Instead of constructing an office building, the department recently took a few floors on rent at the nearby Air India building.
The panel's report also provides a range for fiscal deficit and debt path of both the Union and states and also recommended additional borrowing room to states based on performance in power sector reforms. Finance Commission is a constitutional body that gives suggestions on Centre-state financial relations. The report of the 15th Finance Commission was tabled in the Lok Sabha by Finance Minister Nirmala Sitharaman.
Over the years, NHAI's expenses have spiraled due to sharp increase in land acquisition costs, while budgetary support has shrunk, leading it to fall back on internal resources and market borrowings
Though FDI inflow has been on the rise in the past three years, it is mostly on account of services
The government's annual Economic Survey on Friday strongly defended new farm laws, saying they herald a new era of market freedom which can go a long way in improving lives of small and marginal farmers in India. These legislations were designed "primarily" for the benefit of "small and marginal farmers", which constitute around 85 per cent of the total number of farmers and are the biggest sufferer of the "regressive" APMC-regulated market regime, the survey said. The pre-budget document defended the farm laws in the backdrop of long-running farmers' agitation at various borders of the national capital seeking repeal of these legislations expressing concern that they are pro-corporate and could weaken government regulated mandis, also called Agriculture Produce Marketing Committees (APMCs).
While most experts suggest the government loosen its purse strings and not worry about the fiscal deficit in a pandemic impacted year, it will be a tightrope walk for the government to increase spending without going overboard.
Increasing the duties on auto parts and putting an additional cess on petrol and diesel could drive up costs of vehicles, specially where volumes are low and localisation is not viable.
The rally in index heavyweight ITC has boosted the sentiment across the board.
Earlier this month, Sobha Kapoor and Ekta Kapoor, part of the promoter group of Balaji Telefilms, faced shareholder ire when they failed to obtain the requisite votes on resolutions proposing pay increases for them. In recent months, several promoter-directors, including Siddharth Lal of Eicher Motors and Pawan Munjal of Hero MotoCorp, have faced similar situations. Clearly, large institutional shareholders - and public shareholders - are not taking kindly to promoter-directors upping their remuneration takeaways at a time when the prospects of business recovery are clouded by the anticipated third wave of the Covid-19 pandemic.
About 25-30% of total units launched are unsold across country.
Fire brigade, Mumbai Police and civic officials rushed to the site to carry out the rescue operation.
Automobile dealers' body FADA said the Budget lacked immediate demand boosters for the automobile industry.
A sum of Rs 7060 crore is provided in the current fiscal for the project of developing one hundred Smart Cities.
Increase in taxes on luxury cars will not have any effect on the demand
NDA government has shunned populism.
'Perhaps GST was too complex a system for the Indian economy at its present stage of development,' argues T N Ninan.
Core sector companies have seen volumes drop to single digit in the first nine months of FY16.
Solar equipment manufacturing, however, is unlikely to pick up in India as Chinese imports are more cost-effective
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
Consumers are having to pay more for transportation as petrol and diesel became costlier by about Rs 1.50 per litre
Rent on commercial properties and cost of six services -- telecom, asset management, mining, oil and gas, works contract, development and supply of content -- will go up from Friday.
Steep taxes on petrol and diesel add to the cost of economic activity and reduce the Indian economy's competitiveness. The two fuels must be brought under GST's purview, suggests former IAS officer Ajay Shankar.
The fare will be cheaper as it will be capped at Rs 2,500 per passenger.
The Ministry of Surface Transport and Highways will set up a road safety fund with an initial corpus of Rs 120 crore (Rs 1.20 billion).
India processes around 90% of the world's supply of rough diamonds.
'In a serious fiscal situation like this, an ostrich-like focus on annual budgeting, event management and defensive rhetoric will only make matters worse,' warns Rathin Roy.
The government also proposed promoting 'one product one district' for better marketing and export of horticulture crops. It also called on states for early implementation of three key central model laws on land leasing, agriculture produce and livestock marketing and contract farming.
India on Friday signed the historic Paris climate agreement in the United Nations along with more than 170 nations.
"There is need to extract iron ore, coal but it should not be done at the cost of tribals," he said.
Durable, automobile and real estate players have been lobbying hard for a tax cut, saying it will boost demand.
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