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 tax authorities and insurance regulator Irda are working on the possibility of removing Service Tax on first premium.
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.
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.
'We want to prove to the world that they will get the best code written from a small place like Wayanad.'
Telecom firms earning foreign exchange on incoming overseas calls, Internet services and rentals from cable networks are not entitled to duty sops under an export promotion scheme, says the government.
He also assuaged the honest people that the government will act as a friend to them so that their difficulties are eased.
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.
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.
Bharatiya Janata Party on Tuesday rejected the Kelkar panel proposal for lifting tax sops on savings, housing loans and agricultural income saying it was against the interest of vulnerable sections of society.
Investigation has revealed that the Special Force Operation team had not followed the Standard Operating Procedure and the Rules of Engagement
The supplement is scheduled to be released in the first half of April this year. Exporters were disappointed with Budget 2008-09 as it does not propose any specific measures to help them tide over the situation. In the April-January period of 2007-08, exports stood at $124.19 billion, an increase of 21.62 per cent from $102.12 billion during the year-ago period.
A section of sugar industry has expressed dissatisfaction over the government's export incentives, saying a Rs 100 per tonne extra subsidy for mills in northern region as compared to those for coastal areas was not enough.
Concerned over the development, the security agencies reworked their strategy, especially keeping in mind the Amarnath Yatra beginning June 30.
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 government on Tuesday announced incentives worth Rs 450-500 crore (Rs 4-5 bllion) for exporters encouraging them to aggressively market products in China and Japan and build on the recovery witnessed since November last year.
In the short video clip, other crew members could be seen shouting at the passenger after he hit the pilot.
The minister termed the killing of CRPF personnel at Pampore as an act of 'frustration' on part of Pakistani terrorists several of whom were killed by Indian forces in past one year.
The decision to permit the third child came after this month's once-in-a-decade census showed that China's population grew at the slowest pace to 1.412 billion amid official projections that the decline may begin as early as next year.
To give impetus to the real estate sector, Goyal proposed to extend the period of exemption from levy of tax on notional rent on unsold inventories from one year to two years.
"If we continue with the polices in terms of assisting exporters . . . as long as we see those numbers climbing every month in an environment around the world where output and trade is shrinking, I think this is reassuring sign," Minister of State for Commerce and Industry Jyotiraditya Scindia said on the sidelines of a CII function in New Delhi.
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.
A slew of sops were announced for teachers, employees of municipalities and others.
While foreign direct investment is not allowed in the multi-brand retail, the organised retail stores promoted by the domestic industrial houses have been steadily growing.
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.
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.
Shailaja, who had won accolades for containing the Nipah infection effectively in 2018, said the southern state has a protocol and standard operating procedure (SOP) to effectively fight the infection and prevent its spread.
In a big-ticket measure, the direct tax benefits to 100 per cent export-oriented units (EoUs) have been extended till March 31, 2010. These benefits, available under Section 10 B of the Income Tax Act, were to expire on March 31, 2009.
The Directorate General of Foreign Trade said in a directive that telecom operators will have to refund the duty sops availed under the commerce ministry's export promotion scheme for services -- Served From India Scheme.
Empathising with Indian exporters hit by a rising rupee, the World Bank on Monday said government should look at options beyond tax sops to raise productivity and make the industry globally competitive.
Nobody is held accountable for lapses, no matter how badly it affects the person or business whose accounts are frozen. Nor is there compensation for losses. Most people get to know their accounts are blocked only when a cheque bounces, points out Debashis Basu.
India has set a target of $160 billion for merchandise exports during 2007-08.
Under pressure from textile industry for more concessions, government on Thursday announced more tax sops including raising of excise duty exemption limits for powerloom weavers and readymade garments.
Against the backdrop of the violent clashes with villagers from Meghalaya, the Assam cabinet on Wednesday decided to hand over the investigation to CBI, Chief Minister Himanta Biswa Sarma said.
Finance Minister P Chidambaram has ruled out any more sops for the exporters hit hard by the rising rupee, asking them to get used to stronger currency as dollar inflows would continue to grow.
While people voted in a fifth round that will set the tone as this election rounds into the straight, and while Modi on the stump chews the cud of personal grievances and hackneyed promises that have long since passed their use-by date, there is a rogue wave rising -- what damage it will do, we will know 16 days from today, observes Prem Panicker.
Sugar industry suffered another jolt this week when the Central government dropped its plans to offer incentives to mills for raw sugar exports.
Based on discussions with stakeholders, the ministry is proposing to allocate Rs 26,400 crore for FAME-III subsidy alone with electric two wheelers getting around Rs 8,158 crore, electric buses Rs 9,600 crore and electric three-wheelers Rs 4,100 crore, according to sources in the know. Along with some other components like setting up an innovation fund and money for testing , the total allocation could cross Rs 33,000 crore, estimates suggest.
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