Automobile dealers' body FADA said the Budget lacked immediate demand boosters for the automobile industry.
Dravida Munnetra Kazhagam legislator and the party's youth wing secretary Udhayanidhi Stalin was sworn in as minister in Chennai on Wednesday by Tamil Nadu Governor R N Ravi.
Over 8.5 lakh employees, majorly from public sector banks (PSBs), will get a 15 per cent hike in pay, with the conclusion of the 11th Bipartite Wage Negotiations on Wednesday. After three years of intense negotiations, the UFBU, which represents four bank officer associations and five workman unions, and the IBA on July 22 entered into a memorandum of understanding (MoU) for an annual wage hike of 15 per cent.
Market leader Maruti Suzuki sold 51,274 units, down 49.61 per cent from the same month last year. Hyundai Motor sold 21,320 units, a decline of 49.25 per cent and Mahindra & Mahindra sold 8,075 units, down 54.54 per cent.
Expansion of distribution network, venturing into new markets, supplementing production capacity, and ramping up workforce are all on the cards. Instead of trying to fight with brands having massive war chests, it will pass on the benefits to consumers by offering them phones at lower prices.
Majority of respondents feel that the government in the forthcoming Budget will increase the standard deduction and give more incentives for housing loans.
After witnessing cloudy skies this year, the country's renewable energy sector is expected to boom with a likely investment of over $15 billion in 2022 as the government focuses on electric vehicles, green hydrogen, manufacturing of solar equipment as well as achieving the ambitious 175 GW renewable capacity target. India, which has an installed renewable energy generation capacity of a little over 150 GW, aims to reach 175 GW in 2022. Out of the total mix, 100 GW would be from solar, 60 GW from wind, 10 GW from bio-power and 5 GW from small hydro power projects.
'I have personally been very keen on investing in lithium ion battery technology for some time.'
The Enforcement Directorate on Sunday conducted searches in various Uttar Pradesh cities after it registered a money laundering case to probe the alleged Rs 3,700 ponzi scam case perpetrated by seeking fake social media 'likes' from lakhs of gullible investors by a Noida based firm.
Sanjeev Nayyar offers a roster of things to do to see the India of our dreams.
'Rather than cutting and pasting from advanced economies, we should use basic economic principles to think about what is right for India at the stage of development at which we are,' says Chief Economic Advisor Krishnamurthy Subramanian.
Muzammil Patel and Rahul Murthi will answer all your start-up queries.
'Whoever owns the best chip industry will be the Saudi Arabia of the era of data,' predicts Rajeev Srinivasan.
While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates. Her Budget for the fiscal year beginning April 2022 proposed a massive 35 per cent jump in capital expenditure to Rs 7.5 lakh crore, coupled with rationalisation of customs duty, an extension of time for setting up new manufacturing companies and plans for starting a digital currency and tax crypto assets.
The BSE Midcap and the Small-cap Index have run up 25.3 per cent and 31.3 per cent respectively over the past year. Valuations are no longer cheap, notes Sanjay Kumar Singh.
Till recently, iPhone production in India was limited to older models at a lower price tag. So far, Apple has localised production of five smartphone models - iPhone SE (1st Gen), 6S, 7, XR and 11.
'One out of three phones sold in India is a Xiaomi phone.'
In a statement, the CBDT, which is the apex policy making body for direct tax policies, said it has never asked IRS Association or these officers to prepare such a report and no permission was sought by them before making the report public. 'It is unequivocally stated that CBDT never asked IRS Association or these officers to prepare such a report.
Without making any direct reference to the three new farm reform laws or to the three-month-old agitation by farmers, Modi said there is a need for expanding options for the country's farming community to sell agri produce.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
Farm loan waivers should not be regarded as expenditure but as incentive and investment, argues B S Raghavan, the distinguished civil servant.
The campaign will be launched in global as well as domestic markets across the media.
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
Estimates suggest subsidy outgo on these proposals would be at least Rs 1,000 crore
India is today one of the top locations for semiconductor design and embedded software, but it remains hidden under a generic and misleading name, IT/ITES services.
Ajai Shukla presents an action plan for Defence Minister Rajnath Singh to fix the systemic weaknesses in defence.
Signals received from the government in the past one year reflect a state of utter confusion, says Abhishek Tripathi.
Powerlooms and a lack of policy have pushed heritage art towards extinction, say Shreya Jai and Subhayan Chakraborty.
'Most of the agitations are staged by the Opposition to disturb the peace of the state.'
While we have our wish lists ready, it's only on February 28 that the verdict will be out. We do hope the FM plays Santa and brings some good cheer in this financial year. Meanwhile let's take a moment and list our expectations.
Harsh Roongta, Mahesh Padmanabhan, Anil Rego answer the most sought after questions on Budget Day.
Low consumer demand, a slide in investments and troubles in the banking sector should prompt the government to recalibrate taxes and expenditure. It is also important to ramp up spending on health care and education, says CII president Sumit Mazumder.
'I want to ask Modiji is the support price announced by him good enough to make a farmer's sons to start farming in their villages?' 'Can he swear by Bharat Mata and say that is true?'
'We have promised to ensure reduced tax rates.'
Poor predictability, credibility and effectiveness of fiscal performance have been key reasons for successive governments failing to deliver on their promises.
Three way split of AIADMK has slowed decision-making, prompting industry to look outside the state, says T E Narasimhan.
Tax incentives to have cascading effect on the capital goods industry.
'Though federal, the Constitution is unitary in nature. All matters relating to revenue are centralised. It is necessary that matters related to finance have to be decentralised... States need more freedom in designing schemes with their interest in mind. There has to be a Constitutional amendment to give more powers to the states. A special session of Parliament should amend the Constitution, especially the 7th Schedule,' Kerala Finance Minister K M Mani tells Rediff.com's Shobha Warrier.
Education, jobs, health and more: Experts share their wishlist.
'Prices are rock, bottom, developers are ready to negotiate and banks are keen to lend.'
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