The cement plants at Barmana (Bilaspur district) and Darlaghat (Solan district) had closed operations on December 14 due to the dispute between the company and truckers engaged in the carriage of cement and clinkers. According to a government statement, Chief Minister Sukhvinder Singh Sukhu said, "We have arrived at consensus, thereby protecting the interests of both the truck-operator unions and the management, besides welfare of all others who were being directly or indirectly hit by the stalemate."
On the other hand, 16 or half of all states and Union Territories account for only 3 per cent of all exports.
A nurse working at actor Sonam Kapoor Ahuja's Delhi residence was arrested along with her husband for allegedly stealing cash and jewellery worth Rs 2.4 crore in February.
Though the Budget this year is expected to be exceptionally austere, the corporate honchos have dished out their wishlist
According to state officials, the project envisages lifting of 17.40 thousand million cubic feet of water from river Thunga to Bhadra reservoir and 29.90 TMC from Bhadra reservoir.
Per capita income has more than doubled to Rs 1.97 lakh in around nine years. Indian economy has increased in size from being 10th to 5th largest in the world in the past nine years. Seven priorities of the Budget, 'Saptarishi', are inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector.
The ruling Bharatiya Janata Party on Wednesday hailed the Union Budget as an "all-inclusive" document while the Opposition dismissed it as "anti-people" and mere rhetoric lacking the vision for creating jobs and taming inflation.
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.
Chaudhary also said that 66 per cent of government-sponsored health insurance schemes in the country are being run by the central government. "When the COVID-19 pandemic started, a decision was made for sale of all medicines at the GST rate between 5 and 12 per cent and the GST rate for COVID-19 related medicines and instruments has been reduced to five per cent," he said during the Question Hour.
Equity benchmarks Sensex and Nifty ended on a mixed note on Wednesday as the euphoria about the Budget fizzled out, with investors going for profit-taking ahead of the Fed interest rate decision. The 30-share BSE benchmark Sensex climbed 158.18 points or 0.27 per cent to settle at 59,708.08 after it trimmed most of the intra-day gains. During the day, it had zoomed 1,223.54 points or 2 per cent to 60,773.44.
Oil and Natural Gas Corporation and GAIL India are likely to give 33 per cent lesser discounts on crude oil and cooking gas to the state-owned refining and marketing companies than estimated as oil prices have tumbled in the last three months and the refiners have started making profits.
Nirmala Sitharaman's messaging was clear when she presented a well-balanced Budget with an eye on state elections in nine states followed by a general election next year, observes Ramesh Menon.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The Union government will soon make amendments to the foreign trade policy (FTP) to enable exporters to claim export benefits for settling trade in rupees. These benefits are, so far, available for export payments received in foreign currencies. After the Reserve Bank of India (RBI) unveiled a mechanism to settle international trade transactions in the local currency on Monday, exporters have been demanding that the Ministry of Commerce and Industry come up with a clarification on the matter.
Could it have been more reformist? Of course, but this is an election year Budget, observes Akash Prakash.
Giving a relief to exporters community, the government on Thursday said it will release Rs 56,027 crore to exporters against pending tax refunds under different incentive schemes for outbound shipments. The amount will be disbursed to more than 45,000 exporters. Briefing the media about the decision, Commerce and Industry Minister Piyush Goyal said that the Rs 56,027 crore, which is being released under various export promotion schemes, is over and above duty remission of Rs 12,454 crore for the Remission of Duties and Taxes on Export Products (RoDTEP) Scheme and Rs 6,946 crore for Rebate of State and Central Levies and Taxes (RoSCTL) Scheme already announced.
Referred to as 'Badlav Patr (document of change)', Congress leader Randeep Surjewala and All India Congress Committee's Bihar in-charge Shakti Sinh Gohil presented the manifesto that promises farm loan waiver and 50 percent subsidy in electricity bills to farmers up to 100 units of consumption. The manifesto also promised that it will reject the Centre's farm laws if voted to power.
The government may roll out a new foreign trade policy (FTP) of a shorter term of two-three years in a bid to keep pace with the fast-evolving scenarios in international trade which have been triggered by recent disruptions, such as the pandemic and the Russia-Ukraine war. An FTP is an elaborate policy guideline and strategy to promote the export of goods and services, with a duration of five years usually. The existing policy came into force on April 1, 2015, and was valid for five years, before multiple extensions.
Exporters on Thursday demanded fiscal incentives, tweaking in customs duties on certain products and credit at affordable rates in the forthcoming Budget to boost exports and create jobs. In a pre-budget virtual meeting with Finance Minister Nirmala Sitharaman, the Federation of Indian Export Organisations (FIEO) said the depreciation of the rupee against the US dollar is affecting exports' competitiveness and the sector requires more support. "Creation of employment is the biggest challenge faced by the country...We would urge the government to provide fiscal support to units which provide additional employment in the export sector," the exporter's body said.
A report prepared by the Association for Democratic Reforms states that the total tax exemptions received by six national parties during financial years 2006 to 2009 is Rs 510.02 crore. Vicky Nanjappa reports
'I see a virtually zero impact on the sales of new vehicles with this move,' said an expert
Nearly 250 private liquor vends, licensed under now-withdrawn Excise Policy 2021-22, are running currently in the city.
The announcement was made in advertisements published by the state's information and public relations department in various newspapers on Saturday.
The West Bengal government on Monday introduced two amendment bills in the state Assembly to boost investments in the state.
Given India's reliance on coal, electric vehicles could at best be 10% more efficient than petrol in terms of CO2 savings.
The senior state association member said there is also a tax rebate issue which is still an ongoing process.
Even as the industrial cycle has ground to a halt during the 21-day lockdown, the industry has been hit hard by foreign orders from major clients in the US and Europe being cancelled. Also, a sudden lack of labour has crippled the sector because of a mass exodus of workers from industrial units to the hinterland.
Mumbai recorded a 4x growth in property registrations on a yearly basis in June this year, as restrictions imposed by the state government ended. Mumbai and its suburbs recorded property registrations of 7,857 units in June, compared to 1,839 units registered in June 2020. The registrations for June were also 39 per cent higher, compared to the same month in the pre-pandemic period of June 2019, said a new report by Knight Frank India.
The exporters are optimistic that the industry will grow by 8-10 per cent and it can improve further if the government helps the industry.
'Our automakers export 50 per cent of what they manufacture and once the policy comes into play, which is in the next 2-3 years, we would become a Rs 10 trillion industry.'
After staging a strong recovery from COVID-induced slowdown in 2021, India's exports are likely to extend the growth story to the New Year also on increased demand in the global markets, boost in domestic manufacturing due to production-linked incentive schemes and implementation of some interim trade pacts. Expectations of positive growth in the country's exports are also backed up by the outlook of the World Trade Organisation (WTO) which predicts a 4.7 per cent expansion in the global merchandise trade volume in 2022. Exporters believe that the outbound shipments would cross $400 billion mark in this fiscal going by the current momentum and may reach $475 billion in 2022-23.
The land transfer or subleasing would allow the Patanjali Group to set up the food processing facility and entitle it to other incentives under the central policy guidelines.
According to a media release sent by the ICC, Deputy Chairman Imran Khwaja will take over as interim chairman till the election process is set in motion.
Besides urging the Centre for extension of loan moratorium, the hotel and travel industries have also demanded deferment of GST and advance tax payments and waiver of fees for all forthcoming licences and permits.
Recovery was largely driven by the European Union markets.
On the second day of his yatra in poll-bound Gujarat, Chief Minister Narendra Modi on Thursday took a dig at his bete noire and Bihar counterpart Nitish Kumar and also dubbed the All India Congress Commitee as "All India Coal Congress".
In her fourth tranche of the economic package, she said commercial mining will be done on revenue sharing mechanism instead of the regime of fixed rupee/tonne.
BCCI has approved 10-team IPL from 2022 edition and are backing ICC's bid for cricket's inclusion in 2028 Olympics after some clarifications from IOC.
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