Finance Minister Nirmala Sitharaman on Thursday announced a new job creation scheme by giving subsidy to those establishments that make new hires. The subsidy would be to cover for retirement fund contributions by employees as well as employers for two years, she said. Employees contribution (12 per cent of wages) and employer's contribution (12 per cent of wages) totalling 24 per cent of wages would be given to establishments for two years, she said. Under the Aatmanirbhar Bharat Rozgar Yojana, every Employees' Provident Fund Organisation (EPFO)-registered establishment taking new employees would get this subsidy.
Modi government plans to set up a committee of five or six chief ministers to suggest ways to promote digitisation.
'But extremely difficult, expensive and time consuming to rebuild it.'
Bimal Jalan, has recommended to the government that it cut fiscal deficit to 3.6 per cent of the GDP during 2015-16.
"Didi has already said in Delhi that if Akhilesh Yadav needs our help, we are ready to extend help. The gesture of senior SP leader Jaya Bachchan seeking votes for the TMC during the West Bengal Assembly elections will be reciprocated in Uttar Pradesh," said Laliteshpati Tripathi, who recently joined the TMC.
Pune firm buys 24.46% stake from open market to become largest shareholder.
Many residents complained of suspected gas leak from Chembur, Ghatkopar, Powai and Vikhroli areas late on Saturday night, an official of the BMC's disaster management cell said.
Poddar had earlier said he would sell his stake in Mangalore Chemicals to the highest bidder.
Arthritis, cancer, blindness, erectile dysfunction... smoking can have adverse effects on your overall health, warns Dr Harish Chafle, senior consultant-pulmonology and critical care, Global Hospitals, Mumbai.
By any economic theory or doctrine, this is no Budget that supports economic recovery, whether through supporting aggregate demand, or through expansionary stimulus, declares Rathin Roy.
India must be prepared for a big, fat fuel import bill in FY23 - barring any further avatars of the Covid virus - as refiners crank up runs, or crude processing rates, to meet the growing demand for fuels, and crude prices soar. Capacity additions by an Indian state-run refiner will reinforce the need for foreign crude. Demand for all fuels is expected to increase by 3-8 per cent next fiscal from 2021-22, reaching pre-pandemic levels, according to analysts and industry experts.
Vijay Mallya was made a Member of Parliament's standing committee on chemicals and fertilisers earlier this year.
While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates. Her Budget for the fiscal year beginning April 2022 proposed a massive 35 per cent jump in capital expenditure to Rs 7.5 lakh crore, coupled with rationalisation of customs duty, an extension of time for setting up new manufacturing companies and plans for starting a digital currency and tax crypto assets.
The growth in key sectors will have implications for the Index of Industrial Production as these eight segments account for about 41 per cent of the total factory output.
Bharat Krishak Samaj demanded that the Pradhan Mantri Fasal Bima Yojana should be replaced with a new crop insurance and compensation scheme.
'The Rajapaksas have been in active politics for decades and survived many challenges, but they seem to have misread this one.'
As many as six of eight core industries saw a contraction in output in October.
New ministry will bring much-needed transparency in the functioning of the cooperatives, which so far have been riddled with allegations of political interference and mismanagement.
Deepak Fertilizers plans to revise open offer price to beat Mallya-Poddar efforts
Ahead of the Union Cabinet expansion on Wednesday, several Union Ministers, including Health Minister Dr Harsh Vardhan, Education Minister Dr Ramesh Pokhriyal Nishank and Labour Minister Santosh Gangwar resigned from their posts.
The output had expanded 1.8 per cent year-on-year in January.
The output of eight core industries increased 4.2 per cent in April, boosted by higher electricity, fertiliser and cement production.
The government chose moral persuasion to make people give up subsidies, notes Rahul Khullar.
'Punjab elections are there and so are UP elections. They must have done some calculations (before announcing the repeal).'
Normally, kharif sowing of vegetable seeds starts during the first week of May across the country. Farmers start preparing their fields to make them suitable for kharif sowing during the second fortnight of April. Now, however, faced with the lockdown, farmers are in a hurry to clear their fields of rabi crop and prepare for kharif planting. With a normal monsoon forecast this year, they are doing all they can to take advantage of pre-monsoon showers.
AAP will have to learn to be patient as such electoral changes do not happen in a hurry, asserts Ramesh Menon.
The growth rate in September too was 3.2%.
The expansion in September is highest since April, when the core sectors' growth stood at 2.6 per cent.
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.
Welcoming the latest round of stimulus announced by Finance Minister Nirmala Sitharaman on Thursday, experts said the measures will support the economic recovery boosting demand, job creation and by providing funds to the MSME and stressed sectors. The fiscal impact of the stimulus is likely to be around 0.25-0.6 per cent of GDP in the current fiscal, they said.
A nearly two-fold hike in natural gas prices will incentivise investment in the hydrocarbon sector and help reduce the energy import bill, India Inc said.
These core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production.
India's traditional companies are now moving full scale into the renewable and alternative energy space that had been dominated by smaller players over the past decade. Companies such as government-owned NTPC and the Adani and the Tata groups restructured their businesses well in time to become major players in the green space. At the same time, other conventional companies, such as Larsen & Toubro and Reliance Industries Ltd (RIL), which have a presence both in the energy sector as well as myriad other activities - construction, technology and retailing - are tying up with new-age companies to hitch a ride to a greener path.
Blockchain's promise: Dramatically speeding up transactions, explains Ajit Balakrishnan.
Seeking an interim stay on the high court order, Joshi's petition said it was the top court's duty to ensure that all constitutional authorities act within the 'Lakshman rekha' drawn for each one of them.
Cement production contracted by 2.7 per cent as against an expansion of 6.2 per cent in October 2016.
The entire world is taking up the habit of 'namaste', Modi said.
Strong gains in metal, energy, auto and power shares lifted the key indices to new highs.
Billionaire Mukesh Ambani's Reliance Industries has signed a pact to invest an undisclosed amount in a giant petrochemical hub being built in the UAE. The oil-to-telecom conglomerate will join the recently-formed Ta'ziz joint venture of Abu Dhabi state energy giant Adnoc and state holding company ADQ for developing the Ruwais Derivatives Park in western Abu Dhabi. A company statement said an agreement has been signed for Reliance to invest in the project but did not give details. Unconfirmed reports put the investment at about $1.5 billion.
