Government considers a proposal to give sops to airlines for linking metropolitan cities and small towns, Union minister for civil aviation Praful Patel informed the Rajya Sabha on Tuesday.
The government has decided to extend the Rs 25,938-crore production-linked incentive scheme for the automotive sector by one year, Union Heavy Industries Minister Mahendra Nath Pandey said on Tuesday. Post extension, the five-year scheme, originally in place from 2022-23 to 2026-27, will be active until 2027-28. At present, incentives are applicable under the scheme for determined sales of Advanced Automotive Technology (AAT) products (vehicles and components) manufactured in India from 1 April 2022 onwards for a period of five consecutive years.
Announcing the annual Foreign Trade Policy, Anand Sharma said recovery in global economy so far has been fragile and uneven.
The National Security Guard lost an experienced counter-Improvised Explosive Device officer to a deadly booby trap in the Pathankot terror attack as the terrorists used an innovative technique whose antidote was not included in the Standard Operating Procedure of the elite counter-terror force.
After being sworn in as chief minister, Akhilesh Yadav announced sops for those believed to have propelled him to power. Sharat Pradhan reports from Lucknow
The Department of Pharmaceuticals has submitted a freight subsidy scheme for exporters to the Commerce Ministry so that they could take alternate routes and avoid transit through Europe, which is a shorter route with better connectivity.
Batting for the worried SEZ developers who fear withdrawal of incentives in the new direct tax code, Commerce and Industry Minister Anand Sharma on Friday said his ministry would ensure that the sops continue.
Announcing sops for minorities ahead of the panchayat elections next year in the state, West Bengal Chief Minister Mamata Banerjee on Wednesday said that her government has ordered a survey for ensuring job reservation for Muslims and would also bring a bill for 50 per cent reservation for women in panchayats.
Citing "serious fiscal situation", Union Commerce Secretary Rahul Khullar said that no new incentives and sops could be provided to exporters in the next fiscal in view of significant resource crunch faced by Centre.
'Rather than taking a very short-term view on the markets, equity investing should be premised on longer term growth opportunities.'
Close on the heels of announcing sops for special economic zones, the government on Friday assured exporters that it will take more steps to enable them to compete globally.
'We want to prove to the world that they will get the best code written from a small place like Wayanad.'
The top court also sought the assistance of Solicitor General Tushar Mehta, who was present in the case, in formulating the standard operating procedure (SOP) and fixed the plea for hearing after the summer vacation in July.
Four companies - Rajesh Exports, Hyundai Global Motors Company, Ola Electric Mobility and Reliance New Energy - are eligible for receiving benefits under the production-linked incentive (PLI) scheme for advanced chemistry cell battery storage, the heavy industries ministry said on Thursday. The allotment was made for a total of 50 GWh of battery capacity to the four successful bidders. These firms, the ministry said, will receive incentives under India's Rs 18,100 crore programme to boost local battery cell production.
There are no major announcements in the Union Budget 2014-15.
Special economic zones dedicated to the infotech sector may receive a body blow if the tax exemptions provided to Software Technology Parks of India under Section 10(A) and 10(B) of the Income Tax Act are extended beyond March 31, 2009. According to a senior central government official, not more than half of the nearly 100 notified infotech SEZs will survive if the tax sops are extended.
If the Budget makes no big announcements on new schemes, projects, or tax giveaways, the government would face a major political dilemma as it may have to reluctantly consider shunning the practice of unveiling pre-election sops to woo voters, notes A K Bhattacharya.
The development comes in the wake of an indefinite hunger strike launched by activist Manoj Jarange in Jalna district on Wednesday to demand reservation for the Maratha community.
The Individual tax payer exemption limit to be raised to Rs 200,000 from Rs 180,000.
In the short video clip, other crew members could be seen shouting at the passenger after he hit the pilot.
Finance Minister Nirmala Sitharaman on Monday held a meeting with representatives of the semiconductor industry of the US and invited them to make further investments in India. The finance minister spoke about opportunities for companies situated in Silicon Valley and about the government of India's commitment to be a reliable player in the entire semiconductor value chain with dedicated incentive for the sector in mission mode through the Indian Semiconductor Mission. Last year, the government approved a Rs 76,000-crore scheme to boost semiconductor and display manufacturing in the country in a bid to position India as a global hub for hi-tech production, and attract large chip makers.
The government is likely to offer a slew of tax sops to telecom operators, including asking state governments not to levy sales tax on telecom services, seven years of exemption of revenue sharing on revenues from rural subscribers, etc.
In a pre-budget meeting with revenue secretary P V Bhide, a Ficci delegation asked the finance ministry to tread with caution on rolling back the stimulus measures taken to spur growth.
The government on Tuesday indicated that forthcoming Foreign Trade Policy may grant some sops for the ailing textile sector especially exporters, who were disappointed over the Budget proposals.
Indian companies are expecting generous tax incentives from the Union Budget that will help them invest more in building capacities in the coming years. While the productivity-linked incentives (PLIs) are a good start to spur local manufacturing, the government should also take steps to boost consumer demand, which is not showing encouraging signs, say chief executive officers (CEOs) of India Inc. Statistics released by the Reserve Bank of India (RBI) shows that Indian banks had sanctioned loans worth Rs 75,558 crore in 220 new projects - a record low - in the pandemic-hit financial year ending March 2021. This is not showing any signs of a significant pick up in the last nine months of the ongoing financial year.
It is in power on its own only in three states -- Karnataka, Himachal Pradesh and Telangana -- with a big question mark on whether it can even stake claim to be head of the INDIA bloc.
Traders and weavers in Uttar Pradesh's Bhadohi district, which is famous for hand knit carpets and hand tufted carpets, said they wanted the government to help them regain markets lost due to recession. In the wake of the global economic slowdown, small exporters are being wiped out while large exporters are striving to survive. The traders also said that the government should reconsider the taxes levied on them.
Investigation has revealed that the Special Force Operation team had not followed the Standard Operating Procedure and the Rules of Engagement
The biggest challenge before Chidambaram, who will be presenting his eighth budget, would be to keep every constituent happy, arrest decelerating economic growth and bring down fiscal deficit to committed level of 4.8 per cent of the gross domestic product.
Concerned over the development, the security agencies reworked their strategy, especially keeping in mind the Amarnath Yatra beginning June 30.
Finance Minister Nirmala Sitharaman is likely to step up efforts to boost consumption and rural economy while keeping inflation under check when she presents her sixth straight Budget on February 1. Experts said one way to boost consumption is to put more money in the hands of people, and one of the possible ways of doing it is by reducing the tax burden through tinkering with tax slabs or increasing the standard deduction. Another proposal is related to increasing the funds under the rural employment guarantee scheme MGNREGA and higher payout for farmers.
The move is aimed at helping them reduce the interest rate on loans for purchase of commercial vehicles and free up additional capital to meet the higher capital adequacy ratio requirement. Non-banking finance companies have to maintain a capital adequacy ratio of 12 per cent, which is to go up to 15 per cent from April, 2010.
Prime Minister Manmohan Singh has asked the Finance Ministry to remove a flaw in the tax laws, which would help IT/ITeS SEZs, even as the government is considering relaxing rules for tax-free enclaves across sectors on sales in the domestic market.
Observing that biased reporting gives rise to public suspicion that the person has committed an offence, a bench headed by Chief Justice D Y Chandrachud said media reports can also violate the privacy of a victim.
RIL subsidiary Reliance New Energy Solar, Ola Electric, Hyundai Global Motors Company and Rajesh Exports have been approved for receiving incentives under the Rs 18,100 crore Production Linked Incentive (PLI) scheme for battery manufacturing in India, sources said on Thursday. "The ministry had received bids from 10 companies with a capacity of 130 GWh. Reliance, Ola Electric, Hyundai and Rajesh Exports have qualified for ACC batteries," a source said. Other companies which had applied for the PLI scheme for Advanced Chemistry Cell (ACC) batteries were Lucas-TVS, Mahindra & Mahindra, Amara Raja Batteries, Exide Industries, Larsen & Toubro and India Power Corporation Limited.
The tax authorities and insurance regulator Irda are working on the possibility of removing Service Tax on first premium.
Confederation of Indian Industry has sought higher banking exposure norms for lending to steel projects and infrastructure status to the steel industry, besides tax sops on par with special economic zones to boost the sector.
He also assuaged the honest people that the government will act as a friend to them so that their difficulties are eased.
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