The government has approved Rs 357.17 crore for Apple's vendor Foxconn India and Rs 58.29 crore for Dixon Technologies subsidiary Padget Electronics under the Production-Linked Incentive scheme for mobile phones. This is the first time the government has cleared an incentive of a global company engaged in electronics manufacturing in the country. "Foxconn Hon Hai Technology India Mega Development Pvt. Ltd is the first global company that has been approved under the target segment 'Mobile Phones' (in the category of invoice value of Rs 15,000 and above) to receive incentive under mobile manufacturing for the period 1 August 2021-31 March 2022 based on its incremental investments and sales figures.
Kerala Chief Minister and CPI-M leader Pinarayi Vijayan, Andhra Pradesh CM N Chandrababu Naidu, West Bengal CM and Trinamool chief Mamata Banerjee, and Karnataka CM Kumaraswamy lent support to the Arvind Kejriwal-led Aam Aadmi Party government's fight with the Centre.
Experts believe that states will be in a predicament because of their tight fiscal position and reluctance to replace their own health schemes with this newly announced National Health Protection Scheme.
A fresh scheme is likely to be released in the upcoming Budget
In an apparent reference to political differences between Bharatiya Janata Party and Trinamool Congress, Jaitley said there are national causes to stand together, notwithstanding political differences.
Arvind Panagariya heads the government's main economic advisory body.
Ministries such as road transport and heavy industries are learnt to have objected to NITI Aayog's attempts to become an implementing body for the EV programme.
India is expecting 156 million doses of the vaccine from August to September, reports Ruchika Chitravanshi.
NITI Aayog's Rajiv Kumar accused former prime minister Manmohan Singh and senior Congress leader P Chidambaram of creating a 'false narrative'
The next government in these states may find it tough to push economic growth through long-term reforms, which would be necessary.
Out of the total amount, Rs 17,359.77 crore is aircraft loan, while Rs 31,517.04 crore is working capital loan.
In a move to deepen manufacturing in electronics in India, the Centre is targeting 35-40 per cent value-addition through the yet-to-be launched production-linked incentive (PLI) scheme for electronics components, sources in the government
According to the World Bank, economic growth in middle-income countries, including India, is not accelerating. 'In fact, it is slowing down as incomes increase, with the trend becoming more pronounced each decade.'
The government has approved the 'Terms of Reference' for the 16 Finance Commission, which makes recommendations on sharing of tax revenues between the Centre and states. The recommendations would cover a five-year period commencing April 1, 2026, Information and Broadcasting Minister Anurag Thakur said on Wednesday, giving details about the decisions taken at the Cabinet meeting last evening. The commission would submit its report by October 31, 2025, Thakur said.
Households are likely to remain the primary net lenders to the economy in the coming decades.
Days after Nationalist Congress Party leader Ajit Pawar joined the Maharashtra government, the Shiv Sena (UBT) on Wednesday claimed that only alleged economic offenders Mehul Choksi, Nirav Modi and Vijay Mallya were left to be inducted into the Bharatiya Janata Party.
The minister will review the COVID-19 situation at 11:30 am on Wednesday 'considering the international scenario', they said.
India annually spends Rs 4.5 lakh crore on importing petroleum products, and Transport Minister Nitin Gadkari feels methane is a cost-effective import substitution. But is it? Pallava Bagla examines the pros and cons.
As many as 21 cases of COVID-19 sub-variant JN.1 have been detected across the country till now, NITI Aayog member (Health) Dr V K Paul said on Wednesday but asserted that there was no need to panic.
India will become the world's third largest economy by 2026 as its GDP in current dollar terms will reach $5 trillion in that year and further rise to $5.5 trillion in 2027, former Niti Aayog vice chairman Arvind Panagariya said on Friday. Delivering the 18th C D Deshmukh Memorial Lecture titled 'India at 125: Reclaiming the Lost Glory and Returning the Global Economy to the Old Normal', he said it is unlikely that GDP in current dollar terms of either Germany or Japan will cross $5 trillion-mark in the coming three years. Japan will have to sustain a growth rate of 3.5 per cent in current dollar terms to reach $5.03 trillion in 2027 from its 2022 level of $4.2 trillion, he said.
She also slammed the Centre for its decision to observe January 23 as 'Parakram Diwas' to commemorate the birth anniversary of Netaji Subhas Chandra Bose and said the Narendra Modi government did not consult with her before announcing it.
In an indication that the BJP is looking to welcome politicians from other parties into its fold, Shah asked party members to connect with well-known personalities and leaders from different communities if they want to be part of the "nationalist mainstream".
Debroy is expected to have a role and responsibility similar to the erstwhile chairman of the Prime Minister's Economic Advisory Council
'Technology is streamliming the entire process of aid distribution and making it transparent and digital.'
Perhaps the finance ministry or NITI Aayog could take a detailed look at what governments actually deliver and at what cost; how their services can be improved and expanded where necessary; how much money can be saved through doing things differently; and how many things the government does which it can safely leave to the private sector, argues T N Ninan.
Saraswat played a key role in developing a series of missiles at a time when India faced tight international technology sanctions.
Tamil Nadu, the best-performing state, managed to do this in 63 days. Land allotment took 156 days nationally and 28 days in Himachal Pradesh. Environmental approval took 91 days nationally and 25 days in Chhattisgarh.
Most economists were of the view that the NSSO should release the data, as any move to withhold it will dent the image of country's statistical system.
With India's EV penetration at just 2.5 per cent, the market presents an opportunity -- provided Tesla gets its pricing right.
"We cannot lower our guard. A new risk is being seen at markets and tourist spots where a gathering of crowds being seen, social distancing and mask protocol is not being followed. This is a serious cause of concern," said Dr VK Paul, Member-Health, Niti Aayog during a press conference.
The investment climate is going well in India and the private sector should skill their workforce in the interest of its business, Chief Economic Advisor K V Subramanian said on Thursday asserting that he does not foresee any difficulty in demand and supply of the workforce. Addressing 'Times Network India Economic Conclave', Subramanian further said job creation is part of the virtuous cycle that starts with private investments flowing into the country resulting in production, growth, job creation and increase in aggregate demand which in turn leads to more investments in the economy. The investment climate is going well in India. Other things will follow, though with a lag...it is for the private sector to start recognising that it is in their own business interest that they should skill their workforce. This, in turn, will raise the average level of skills in India," he said.
Kumar, a 1992-batch Indian Administrative Service officer of Tamil Nadu cadre, is currently an additional secretary in the ministry of electronics and Information Technology.
Finance Minister Nirmala Sitharaman on Tuesday nudged the fintech industry to break the distance barrier and have more engagements with the government and its agencies to enhance trust. Sitharaman was replying to a question by Kris Gopalakrishnan, chairman, Global Fintech Fest (GFF) 2022 advisory board, who wanted to know how to ensure trust among industry, regulators, and the government. "I don't want to sound cliche, but distance brings distrust. "So, cut the distance down, have greater engagement with the government," the minister said.
Higher growth in vegetable demand relative to supply in the recent past has led to an upward trend in inflation, with spikes becoming more frequent. A study by rating agency Crisil found that vegetable inflation has been the most volatile in the food category, in fact. Inflation volatility is detrimental for both consumers and farmers and also sidetracks policymakers in the short term, necessitating frequent and repeated price-smoothing measures.
Kishor said it was "laughable" for Kumar to issue "certificates" given that he was with the BJP till a month ago.
The NITI Aayog's vice-chairman's charge holds ground.
Any significant adverse effect is unlikely if the second dose of a different COVID-19 vaccine is administered, but reaching a firm opinion on this will need more scrutiny and understanding, the Centre said.
India on Friday made a strong pitch for a sovereign rating upgrade with Moody's and also questioned the parameters based on which the US-based agency accords ratings, sources said on Friday. Ahead of its annual review of the sovereign rating, Moody's Investors Service representatives met Indian government officials during which the officials highlighted the reforms and strong fundamentals of the Indian economy. A higher rating for India would mean the nation is less riskier, translating into lower interest rates on borrowings.
The article claimed that the "ICMR tailored its findings to fit Prime Minister Narendra Modi's optimistic narrative despite a looming crisis".
Centre working on open-ended lease agreement to enablesale of property at the end of the agreement period
