Apple and Samsung are international players and should work as a team with domestic companies to transform India into a global powerhouse: IT Minister Ravi Shankar Prasad.
'What do the moves towards protectionism suggest?' 'That we do not have Aatmavishwas.' 'If you have self-confidence, confidence in your ability to compete with the best in the world, why do you need protectionism?'
The government will undertake a detailed evaluation of applications it has received in response to the mega semiconductor scheme and expects to complete the entire process and sign agreements with companies in next 8-10 months, according to Union Minister for Electronics and IT Ashwini Vaishnaw. Vaishnaw said he is happy with the response that came in within a short period of time, when the ministry invited applications under the Rs 76,000 crore semiconductor programme. The government is confident of seeing one of the big global players in semiconductor industry coming in the next round, Vaishnaw told PTI in an interview. He asserted that many other players too are "seriously evaluating" India's semiconductor programme, and that the ministry is in discussions with several companies.
Urban markets account for the major share of total revenues.
'The world over, everybody is asking for the same medicines, same APIs, same KSMs.' 'However, there is just one supplier -- China -- for the entire world.'
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.
Sanjeev Nayyar offers a roster of things to do to see the India of our dreams.
Year by year, our cities remain defeated in the face of weather conditions, costing us time, money, resources and often lives, observe Amit Kapoor and Bibek Debroy.
In the second of a four-part series, Business Standard checks out the currency press in Dewas to find target-based allowances have increased the monthly salary of employees from Rs 10,000 to Rs 30,000, at a time when notes are being printed 24x7.
Reminiscent of the past two years, the market has made positive strides ahead of the Union Budget 2023-24 (FY24). The benchmark National Stock Exchange Nifty has gained 1.8 per cent in the last month. Typically, markets tend to gain ahead of the Budget as investors build in optimism.
'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.
As if wanting to be an antidote to the coronavirus pandemic, the Indian stock market adorned carnival robes in 2021 with a tsunami of liquidity unleashed by global central banks coupled with supportive domestic policies and the world's largest vaccination drive sparking off a world-beating rally on Dalal Street, despite bouts of uneasiness over fizzy valuations. While the wider economy shuttled between recovery and relapse, dictated by multiple mutations of the virus, equity market benchmarks appeared headed in just one direction -- skywards. The dizzying upward journey has added a whopping Rs 72 lakh crore during 2021 to investors' wealth, measured as the cumulative value of all listed shares in the country, taking it to nearly Rs 260 lakh crore.
The broadening of the market rally sends the signal that growth will be broad-based, observes Akash Prakash.
Government should make it clear as to whether the Duty Entitlement Passbook scheme will continue beyond June.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
'There is a vision in the Budget, and the vision is to take India from a largely agrarian, rural economy into a fast-track digitalised economy.'
Companies don't have to be in the field to nudge people to return money they owe lenders.
Your financial goals are of utmost importance and the tax saving is an added incentive, advises Dwaipayan Bose.
Sanjay Kumar Singh suggests key factors investors need to keep an eye on while choosing the direct investment route.
Corruption in the scheme may have nothing to do with fake children being shown to siphon out money, says Somasekhar Sundaresan.
'The spurt in demand for Ayurvedic products has exhausted our production capacity.'
In a move to boost export of automobiles from India, the government has announced additional incentives on overseas shipments of cars and good carriers to 13 countries, including Australia and Brazil.
'Opt for this facility only after doing a cost-benefit analysis: Will the savings in interest cost by parking your surpluses in the home loan overdraft account outweigh the higher interest cost of this loan?'
President Ram Nath Kovind on Monday said the country's farm production and procurement increased during 2020-21 crop year despite the pandemic and agricultural exports reached a record level of Rs 3 lakh crore during the same period. In his address to the joint sitting of both Houses of Parliament at the start of the Budget session, Kovind said the government is focusing on making the country self-sufficient in edible oils besides making special efforts to promote organic farming, natural farming and crop diversification. "My government is working continuously to empower the farmers and the rural economy of the country... I would like to give maximum credit to the small farmers of the country for this consistent success and strengthening of the agriculture sector," he said.
The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds.
The exporters will get duty benefits for shipments to 15 countries, including Australia, Brazil, New Zealand, China and Japan.
HR Guru Mayank Rautela offers practical advice.
'This market is very expensive in some pockets, dirt cheap in some, and the belly of the market is reasonably valued.'
'The government expects demand for electronic products to reach $400 billion by 2023-24. This would be a huge foreign exchange outflow, which may further widen our trade deficit with other nations. Hence, the government plans to push local electronics manufacturing to cut down on their import bill.'
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
Agents often influence customers into buying new products every year instead of continuing with their existing policies
The Reserve Bank of India's (RBI) new rules for credit and debit cards came into effect from October 1. These include tokenisation, one-time password (OTP) for activation after 30 days, written permission for enhancement of credit limit, and greater clarity on interest calculation.
While Renault reported an over 12 per cent decline in sales and lost market share, Market leader Maruti Suzuki grew over 19 per cent.
The challenge is to convince productive sectors that a lower general rate would benefit all and remove the prevalent system of favours targeted towards narrow industry and service sector groups.
Spiraling steel prices led the government to cut customs duty by 2.5-5.5 per cent on a range of products from semi-finished to flat and long products for the benefit of MSMEs, that have been at the receiving end.
Setting the economic agenda for the new year, Finance Minister Jaswant Singh Friday favoured speedy disinvestment, strengthening regulation, linking fiscal and monetary incentives to shore up productivity and growth.
Niranjan Upadhye, general manager, fraud risk management, Worldline India, tells you how to quickly spot a scam and save yourself from grief.
Just like China wants Trump to lose the US presidential poll, it may want Modi to lose the Lok Sabha polls. So months before the 2024 elections, China may take possession of an important area, say one of the Char Dhams, warns Sanjeev Nayyar.
It may even increase the risk of dementia, says study.
