It will be the second Budget of the Modi 3.0 government and eighth straight Budget for Nirmala Sitharaman, rare in Indian polity.
'Our attempt to honour the taxpayer has been since 2014 and more actively since 2019-2020 onwards.'
'The bull market cycle ran for five years. It's the end of that cycle.' 'The next cycle is a down cycle, and in that down cycle, you will see the Sensex falling from their highs of around 68,000 to maybe 40,000-50,000 at the bottom of the cycle.'
India's gold and silver imports from its free trade agreement (FTA) partner UAE have skyrocketed 210 per cent to $10.7 billion in 2023-24 and there is a need to potentially revise the concessional customs duty rates under the pact to mitigate the arbitrage driving this surge, a report said on Monday. Economic think tank Global Trade Research Initiative (GTRI) said this sharp rise in gold and silver imports is primarily driven by import duty concessions granted by India to the UAE under the India-UAE Comprehensive Economic Partnership Agreement (CEPA).
VIL has countered Trai's contention that the RedX plan, which commits higher speeds, should have been informed separately so different aspects could have been examined before such service was launched.
With the new government taking charge in Britain, senior officials of India and the UK will hold the next round of talks this month for the proposed free trade agreement to resolve the pending issues and close the negotiations, an official said. The India-UK talks for the proposed free trade agreement (FTA) began in January 2022. The 14th round of talks stalled as the two nations stepped into their general election cycles.
The new four-wheeler (4W) electric vehicle (EV) policy may spur the entry of global majors. The manufacturing policy cuts Customs duty to 15 per cent, given a minimum investment commitment. It calls for a minimum investment of Rs 4,150 crore (about $500 million) for making electric four wheelers (e-4Ws), with manufacturing to commence within three years of approval.
Newly-elected Conservative Party leader and prime minister in waiting Liz Truss is among the senior British politicians known for championing deeper India-UK strategic and economic ties, describing them as a "sweet spot" of global trade dynamics.
The avoidable stresses and strains in ties helped in one way. It showed for the entire region how a matured India handled diplomatic relations, especially with a smaller and suspicious neighbour, with practised dignity and patience, unruffled by provocations in word, deed and action, observes N Sathiya Moorthy.
The world's top eight industrial nations on Monday ppeared to have climbed down from a tough position on farm subsidies, reviving hopes of resumption of the collasped WTO talks.
Adani Power, part of the Adani group, plans to add close to 6 gigawatts (Gw) of new power assets in the next five years, according to an investor presentation by the company. That is clearly meant to ride on India's burgeoning power demand. But there is another side to it: All of this new capacity is expected to be thermal power, or power produced from coal.
British Prime Minister Rishi Sunak has reiterated the UK's commitment to a free trade agreement (FTA) with India as part of the country's wider focus on enhancing ties with the strategic Indo-Pacific region and standing up to competitors with "robust pragmatism". Delivering his first major foreign policy speech since taking charge at 10 Downing Street last month at the Lord Mayor of London's Banquet on Monday evening, the British Indian leader reflected upon his heritage and committed to promoting British values of "freedom and openness" around the world. He also pledged to "do things differently" far removed from the so-called "golden era" with China, which he said poses a "systemic challenge" to British values and interests.
Reliance Industries Ltd on Friday reported a 27 per cent jump in its September quarter net profit as earnings from the oil and gas business rebounded, and a pick-up in fashion and grocery helped boost retail revenues. The oil-to-retail-to-telecom conglomerate's consolidated net profit of Rs 17,394 crore, or Rs 25.71 per share, in July-September - the second quarter of the current 2023-24 fiscal - was 27.3 per cent higher than Rs 13,656 crore, or Rs 19.92 a share, earning a year back, the company said in a statement. The net profit was also higher quarter-on-quarter compared to Rs 16,011 crore earnings in the preceding three months ended June 30.
In the show-cause notice, Trai said it is of the view that the claim of VIL for providing priority 4G network with faster data speeds is not in compliance with the extant regulatory framework.
'I'm pitching India for the strengths we offer, including the English language, engineers, doctors, nurses, professionals, innovative talent of startups.'
Britain's third female prime Minister, Liz Truss, was out of office on Thursday after the shortest tenure at 10 Downing Street in London and without a cherished India-UK free trade agreement (FTA) under her belt as a Brexit prize.
New Delhi has all along demanded that the principle of less-than-full reciprocity -- which implies that industrialised countries take bigger tariff reduction commitments than developing countries -- must be the cornerstone of Doha non-agriculture market access modalities. Besides, India demanded that the formula to cut industrial tariffs and the flexibilities provided to developing countries in the July 2004 framework agreement should never be linked.
Korean major LG Electronics hopes to launch its notebook computers in India at attractive prices in anticipation of a further cut in import tariffs in the Budget for 2005-06.
Budget for 2022-2023 has returned to its agenda for protectionism in the name of creating a self-reliant India, points out A K Bhattacharya.
A digital economy can only work with uninterrupted electricity supply. So, states now face the unpleasant task of telling their citizens that electricity rates need to be hiked. Subhomoy Bhattacharjee reports.
How do we get back to higher trend growth? The heart of the problem lies in private corporate investment, recommends Ajay Shah.
But their trajectory and direction have been largely influenced by politics and the political leadership's understanding of how the economy needs to be managed, explains A K Bhattacharya.
Attacking Delhi Chief Minister Arvind Kejriwal on power issue, Bharatiya Janata Party leader Harsh Vardhan on Friday said that if he fails to provide uninterrupted electricity supply and slash rates as promised during elections, he has no right to stay in office.
'You have to hand it to Mukesh for sheer daring.' 'Who else in India would have sunk a stupendous $30 billion in a business that was yet to get a single customer?' 'With that, the older of the Ambani siblings has shown that he is in a class of his own,' says T N Ninan.
Delhi Chief Minister Arvind Kejriwal on Saturday stayed away from court here in a case filed against him by Sheila Dikshit's ex-political secretary for his alleged remarks against the former CM during power tariff hike protests of October, 2012.
'We hope there shall be more focus on existing projects and their completion rather than new projects.' 'Any new project announcements should be largely for decongesting the existing lines rather than new lines.'
Attempts are being made to balance the need for health of the sector, consumer interest while complying with the Supreme Court order on statutory dues.
A Delhi court on Monday framed defamation charges against Aam Aadmi Party leader Arvind Kejriwal in a case filed by Delhi Chief Minister Sheila Dikshit's political secretary for his alleged remarks against her during power tariff hike protests in October 2012.
Perhaps the calculation is that economic recovery will have been achieved before the next general election comes around, but such assumptions can come unstuck if current directions are not reversed quickly, cautions T N Ninan.
The Department of Commerce alleged that Huawei was engaged in activities that are contrary to US national security or foreign policy interest.
'The current crisis is one of incomes, driven by poor job growth, agrarian distress and poor investment sentiment,' notes Harsh Pati Singhania, director, JK Organisation.
Bharti Airtel's total revenue for the December 2018 quarter stood at Rs 20,519 crore, just one per cent higher than the Rs 20,319 crore in the corresponding period of the previous year.
A week after taking office, Arvind Kejriwal and his ministers have ambitious promises to keep.
Fadnavis, currently on a visit to the US, invited American investments in the infrastructure, agro-processing and manufacturing sectors of his state.
According to the final draft of the negotiating texts, seen by Business Standard, there are a few binding commitments in the chapter on TFA, under Article 13, which talks of Customs cooperation.
Telcos may hike mobile rates to recover spectrum cost: Moody's
The government will have to get projects moving.
Trump is accompanied by First Lady Melania, daughter Ivanka, son-in-law Jared Kushner and the top brass of his administration.
'Both Japan and China face a common challenge: How to deal with Trump.' 'The trade war with the US seems to have facilitated/hastened Abe's China visit, the first by a Japanese prime minister since 2011,' points out Dr Rajaram Panda.
A billion dollars in renewable energy is huge.
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