'Additionally, the significant employment multiplier will boost direct and indirect jobs of up to 1.1 million.'
An Income-Tax Department internal committee reviewing the old direct tax law to pave the way for a new one has "largely" received suggestions for "simplifying" the language, better "structuring" the provisions and enlarging the ambit of schemes like presumptive taxation, CBDT chairman Ravi Agrawal said Sunday. Speaking to PTI during a post-Budget interview at his North Block office, Agrawal said the panel also "studied" the deliberations and processes of countries like the UK, Australia and some others where a similar tax law simplification exercise was undertaken.
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
Bank employees want a five day work week.
India's biggest telecom players, Bharti Airtel and Reliance Industries-backed Jio Platforms, will soon bring billionaire Elon Musk-led SpaceX's Starlink satellite services to India. According to analysts, the move could boost India's tele density, especially in the rural areas, and may be an opportunity for investors to add the two stocks on dips for long-term gains
The United States has imposed sanctions on 275 individuals and entities, including 15 from India, for allegedly supporting Russia's military-industrial base.
To burnish production-linked incentive (PLI) schemes, the government is considering an overhaul of some of them relating to sectors such as textiles and pharma, and making incentive payments quarterly, officials in the know said. In a bid to cut the delay in processing incentive claims, the government is looking at switching to a quarterly disbursement of incentives. Currently, in most schemes, incentives are annual.
United States President Donald Trump on Thursday announced the extradition of the 26/11 Mumbai terror attack accused Tahawwur Rana to India and said he will face justice.
I'...additional concessions, such as opening government procurement, reducing agricultural subsidies, weakening patent protections, and allowing unrestricted data flows -- demands India has resisted for decades.'
The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, has entered into a partnership with the Startup Policy Forum (SPF), a premier industry organisation representing India's leading new-age companies.
Prime Minister Narendra Modi and US Vice President JD Vance have expressed satisfaction with the progress made in negotiations for a bilateral trade agreement. The two leaders met in New Delhi and discussed a range of bilateral issues, including cooperation in energy, defense, strategic technologies, and other areas. They also exchanged views on regional and global issues of mutual interest.
Is a sulking Eknath Shinde on the way out as Shiv Sena chief?
'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.'
'When Prime Minister Modi met President Trump, they agreed to initiate a bilateral trade dialogue.' 'It makes sense to give these negotiations a chance.'
The "construct of the DPDP Act" cannot be changed at this stage, though there may be some minor tweaks in the language of the Rules and formats in certain legitimate cases.
'We have to be prepared for the larger disruption that is likely to take place.'
Punjab Police detained several farmer leaders, including Sarwan Singh Pandher and Jagjit Singh Dallewal, while they were returning from a meeting with a central delegation in Chandigarh. The police also began evicting protesting farmers from the Shambhu and Khanauri border points, which have been closed for over a year. The action comes amid concerns from industrialists in Punjab over the prolonged closure of the border points, which they say has resulted in heavy losses. The meeting between the farmer leaders and the central delegation, led by Union Agriculture Minister Shivraj Singh Chouhan, was inconclusive, but the next meeting is scheduled for May 4.
Many states are realising that hosting mega events puts the spotlight on them and raises their profile.
Whether the ambitious targets are achievable is a moot question as India's earlier target was 20,000 MW of nuclear power by 2020.
This will be the first full-year Budget of the BJP-led National Democratic Alliance government since it came to power for a third consecutive term in July last year.
As RBI governor, Sanjay Malhotra will have to give the highest priority to the interest of the economy while deciding on the growth-inflation trade off at Mint Street.
Enhertu currently costs around Rs 1.6 lakh per 100-milligram injection.
If as critics point out, the environmental impact assessment study was commissioned only after the auction process got underway with not all the stakeholders getting to know of it, then the government has already compromised the trust it could have enjoyed with Kerala's public including its coastal communities, points out Shyam G Menon.
IIT Kanpur has announced a breakthrough in stealth technology, which would make tanks and fighter aircraft invisible, or near-invisible to enemy radar.
While Elon Musk's political influence continues to grow, his business empire is witnessing headwinds.
rediffGURU Major Inderpaul Singh (retd) offers career guidance and helps students and individuals handle challenges in their professional lives.
Shiv Sena's Dadaji Bhuse is the new school education minister while Uday Samant continues to be the industries minister.
The Insurance Regulatory and Development Authority of India (Irdai) has asked at least 10 general and life insurance companies to submit a detailed road map for their listing strategies by the end of this month, according to multiple sources with direct knowledge of the matter. "The regulator met four life and six general insurers last month and asked them to provide their listing strategies by the end of February," said one of the sources.
'When there is a money crunch in the industry, actors like us are the ones who face budget cuts. Not the big actors.'
Challenging the decision of the Biden Administration to investigate the activities of Indian billionaire Gautam Adani and his companies, an influential Republican lawmaker on Tuesday said such selective actions risk damaging critical alliance partners.
'We have not even used 0.1% of the available resources.'
The government is planning to tweak its procurement policy to give a fillip to domestic manufacturing. The industry department has floated a proposal to raise the minimum local content requirement for public procurement for Class-I and -II suppliers from 50 per cent currently to 70 per cent, and 20 per cent as of now to 50 per cent, respectively.
Unless something changes, Mr Trump is a huge threat right now, which is perhaps not being recognised fully, cautions Debashis Basu.
In a dramatic shift in Canada's foreign policy, Prime Minister Mark Carney on Thursday declared that the long-standing economic and security relationship between Canada and the United States has ended, responding to US President Donald Trump's announcement of new auto tariffs that could severely impact Canada's economy, Politico reported.
Ushering in reforms, Union Finance Minister Nirmala Sitharaman on Saturday proposed to open up the nuclear power sector for private players and announced a Rs 20,000 crore Nuclear Energy Mission for research in the field, with an aim to set up five small and modular reactors by 2033.
Climate scientists warn that climate change is intensifying heatwaves in India, with the cooling effects of La Nia potentially becoming less effective in a warmer future. The India Meteorological Department (IMD) predicts an early summer with above-normal temperatures and intense heatwave spells, following an unusually dry winter and the warmest February since 1901. Experts emphasize the role of human-caused climate change, along with natural climate drivers like El Nio and La Nia, in shaping weather patterns. While La Nia typically brings cooler temperatures, scientists suggest that under climate change, its ability to mitigate heatwaves may be diminished.
There is a "misperception" among the administration around deregulation, wherein digitisation is confused with deregulation, Chief Economic Advisor V Anantha Nageswaran said on Tuesday. Speaking at an event organised by alternative investment industry's lobby grouping IVCA in Mumbai, Nageswaran stressed that what is essential is to do away with needless regulations, whether they are to be complied with online or offline.
Telecom services providers have urged the Ministry of Finance to suspend the universal service obligation (USOF) till the existing corpus is exhausted. In their Budget recommendations, they have also pressed for an exemption from the service tax on "assignment of right to use natural resources" and the slashing of Customs duty on telecom equipment to zero. The Cellular Operators Association of India (Coai), which represents private sector telecom operators Reliance Jio, Bharti Airtel, and Vodafone Idea, called for abolishment of USOF levy.
The Central Industrial Security Force (CISF) has denied any lapse on its part during the scuffle between MPs in the Parliament complex during the recently concluded Winter Session. The CISF, tasked with guarding the Parliament House Complex, said no weapons were allowed inside and it will choose to remain silent on allegations made by lawmakers. The force said it is not conducting any inquiry into the incident that took place on December 19.
'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.'
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