Assam's outgoing Chief Minister Tarun Gogoi on Friday tendered his resignation to Governor P B Acharya following Congress' defeat in the just-concluded assembly polls.
In Srinagar, wearing black bands, scores of PDP leaders and activists, led by party president Mehbooba Mufti, took out a protest march from the party's head office near the Sher-e-Kashmir Park.
Auto majors, including Maruti Suzuki India, Hyundai and Tata Motors, on Sunday reported high double-digit growth in their domestic passenger vehicle sales in July riding on stabilisation of macro-economic factors and better consumer sentiments. Similarly, Honda, Nissan, MG Motor and Skoda also reported healthy growth in their sales last month leveraging on improved market mood amid prevailing lower coronavirus infection rate, despite supply constraints of semi-conductors. The country's largest carmaker Maruti Suzuki India's (MSI) domestic sales increased by 39 per cent to 1,41,238 units last month as against 1,01,307 units in July 2020, the company said in a statement.
The all-powerful GST Council on Friday decided to charge food delivery platforms such as Swiggy and Zomato a tax even as it extended concessional tax rates on certain COVID-19 drugs by three months till December 31. The Council, which comprises the Union finance minister and her state counterparts, decided to continue keeping petrol and diesel out of the GST purview as subsuming the current excise duty and VAT into one national rate would impact revenues. Briefing reporters on the decisions taken by the Council at a meeting here, Union Finance Minister Nirmala Sitharaman said GST has been exempted on muscular atrophy drugs like Zolgensma and Viltepso, which cost crores of rupees.
Major automakers, including Maruti Suzuki, Hyundai, Tata Motors, Mahindra & Mahindra, Kia, Toyota and Honda, on Thursday reported healthy growth in passenger vehicles sales in June, recovering from the disruptions induced by the second wave of COVID-19. The country's largest carmaker Maruti Suzuki India (MSI) posted total sales of 1,47,368 units in June, up from 46,555 units in May. Its domestic dispatches to dealers last month stood at 130,348 units, up from 35,293 units in May, as easing of COVID-related restrictions helped the auto major to dispatch more units to dealerships.
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The AAP leader did not clarify whether 300 units of free electricity will be given per month as Punjab has a two-month billing cycle.
After the Opposition, now Punjab Congress chief Sunil Jakhar and two MLAs of the party have questioned their government's decision of giving jobs to sons of two legislators and urged Chief Minister Amarinder Sigh to roll back the 'ill-advised' move.
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Hyundai Motor India expects its SUV range to gain further traction in the domestic market with demand for personal mobility gaining momentum post the second wave of COVID-19, according to a senior company official. The company, which already leads the SUV space with models like Venue, Creta, Tucson and recently launched Alcazar, is looking to maintain its lead in the segment which is growing with each passing month.
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Under flak from the opposition for 'diverting' Covid vaccines to private hospitals to make a profit, the Punjab government on Friday asked them to return all stock meant for the 18-44 age group.
More than 39.8 lakh people in 27 of the 33 districts in the state were affected by the deluge on Thursday.
'If the Modi government doesn't act now, it will demoralise and hurt the people who voted in hope of a better times,' argues former BJP MP Tarun Vijay.
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Finance Minister Nirmala Sitharaman on Thursday reiterated that an international arbitration ruling on India's sovereign right to taxation sets the wrong precedent, but said the government is looking at how best it can sort out the issue arising out of New Delhi being ordered to return $1.2 billion plus interest and cost to UK's Cairn Energy Plc. The government, which participated in an international arbitration brought by the Scottish firm against being taxed retrospectively, has appealed against The Hague based tribunal's ruling asking the government to return the value of shares expropriated and liquidated, tax refunds withheld and dividend seized to recover a wrongly levied retroactive tax demand.
For the chief minister and Assam alike, the road ahead is full of challenges, notes Aditi Phadnis.
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Setting aside Sebi's direction, the Securities Appellate Tribunal (SAT) on Monday allowed PNB Housing Finance to go ahead with the shareholders' meeting on Tuesday to consider the proposed Rs 4,000 crore-investment by private equity firm Carlyle and others in the mortgage firm. However, results of the shareholders' voting will not be disclosed till further directions from the tribunal. The ruling comes hours after PNB Housing Finance informed stock exchanges that it has appealed against Sebi's direction on June 18 wherein it was asked to defer consideration of the proposed capital infusion proposal till a valuation of the company's shares is done by a registered independent valuer.
APCC president Ripun Bora said following discussions with various parties, it has been decided that the Congress will join hands with the All India United Democratic Front (AIUDF), the Communist Party of India, the Communist Party of India-Marxist, Communist Party of India-Marxist Leninist and the Anchalik Gana Morcha.
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The government on Wednesday said it will borrow Rs 7.24 lakh crore in the first half of 2021-22 fiscal to meet resources to perk up the economy hit by the coronavirus pandemic. According to the Budget 2021-22, the government's gross borrowing was estimated at Rs 12.05 lakh crore in the financial year beginning April 1. "In the Budget, we had announced that there would be a gross borrowing of Rs 12.05 lakh crore and net borrowing of Rs 9.37 lakh crore. "In the first half of 2021-22, we would be borrowing Rs 7.24 lakh crore, which is 60.06 per cent of the gross issuances," economic affairs secretary Tarun Bajaj said. He said the government would issue 2-year, 5-year, 10-year, 14-year, 30-year, and 40-year securities.
These products are extremely transparent and are the lowest charged products in the insurance space. The policyholder has to only pay the fund management charge. Hence, from the cost side, ULIPs are very competitive.
As the second wave of the Covid-19 pandemic abates, India's automakers are hopeful of a quick recovery in sales volumes, led by better rural sentiment, low interest rates, improved availability of finance and a gradual uptick in business and economic activity. In fact, companies have started to ramp up production already, encouraged by high order books and the growing preference for private transport in both rural and urban areas as a means to avoid infections. In early April, the industry had been bullish as the sales trend for March showed that the effects of the Covid-19 pandemic had been left behind. The total vehicle sales had grown by 77 per cent, albeit on a lower base, and for the past few months, sales had consistently touched 300,000 units per month.
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
Finance Minister Nirmala Sitharaman had in May announced that there will be a maximum of four public sector companies in strategic sectors, and state-owned firms in other segments will eventually be privatised.
Ahmed Patel, K C Venugopal and Jairam Ramesh will be part of the Rajya Sabha Committee, which will also include Leader of Opposition Ghulam Nabi Azad and party's deputy leader Anand Sharma. Azad and Sharma are signatories to the letter that demanded an overhaul of the Congress party and a new 'full-time and visible' party president.
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Finance Minister Nirmala Sitharaman on Monday said the government has come out with open and transparent Budget and has not made any attempt to hide anything under the carpet.
Assam Chief Minister Tarun Gogoi led the state in paying respect to Kalam at the Lokapriya Gopinath Borodoloi International Airport in Guwahati, calling Kalam's death an "irreparable loss" to the nation.
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'One reason given for the failure of the Congress in Assam was due to the alliance with the AIUDF.'
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