Search results for ' Incent'

No opposition front without Congress can take on BJP in 2024 polls: Jairam

No opposition front without Congress can take on BJP in 2024 polls: Jairam

Rediff.com19 Mar 2023

Ramesh, however, said it was too early to talk about all this right now as the Congress' first priority was the upcoming elections in Karnataka and the string of state polls this year.

PLI scheme attracted Rs 45,000 crore investment, created 3 lakh jobs: NITI Aayog CEO

PLI scheme attracted Rs 45,000 crore investment, created 3 lakh jobs: NITI Aayog CEO

Rediff.com6 Feb 2023

India's production-linked incentive (PLI) scheme, which aims to make domestic manufacturing globally competitive, has attracted investment worth over Rs 45,000 crore and has also created three lakh jobs, NITI Aayog CEO Parameswaran Iyer said on Monday. The government has rolled out the scheme with an outlay of about Rs 2 lakh crore for as many as 14 sectors, including automobiles and auto components, white goods, pharma, textiles, food products, high efficiency solar PV modules, advanced chemistry cell and speciality steel. "The PLI programme has already started showing results.

Is Adani a Modi Crony?

Is Adani a Modi Crony?

Rediff.com11 Apr 2023

This State-corporate 'cooperation' didn't begin with the arrival of the Modi government.
Many of the big licences, contracts, and even environmental clearances for the Adani group had come in the UPA's time, points out Shekhar Gupta.

Is Adani a Mody Crony?

Is Adani a Mody Crony?

Rediff.com11 Apr 2023

This State-corporate 'cooperation' didn't begin with the arrival of the Modi government.
Many of the big licences, contracts, and even environmental clearances for the Adani group had come in the UPA's time, points out Shekhar Gupta.

Planning To Buy Insurance Policy?

Planning To Buy Insurance Policy?

Rediff.com3 Mar 2023

Buy from an established agent rather than a novice who may not be around when you need his assistance.

Indian telcos surpass 3-year 5G rollout target in six months

Indian telcos surpass 3-year 5G rollout target in six months

Rediff.com1 Mar 2023

Indian telecom operators have surpassed the three- year 5G network rollout target given to them within six months and now the government is making efforts to enhance adoption of 5G applications across various key segments, a senior government official said in Barcelona. Department of Telecom Additional Secretary VL Kantha Rao told PTI at "India Evening" event on the sidelines of Mobile World Congress 2023 that the government has hosted over 50 companies at the India pavilion and the delegation is here to showcase indigenously-developed 4G and 5G technology stack. "When the spectrum was allocated to telecom service providers for 5G rollout, we gave a minimum rollout obligation saying that within one year they have to cover a few cities within three years, a few towns and so on and so forth.

New tax regime now more attractive: Sitharaman

New tax regime now more attractive: Sitharaman

Rediff.com1 Feb 2023

Finance Minister Nirmala Sitharaman on Wednesday said the government has made the new income tax regime more attractive for taxpayers and has thus brought about 'substantial changes' in its structure for the benefit of the middle class. The Budget 2023-24 has proposed changes in the optional tax regime, which was introduced in 2020-21. Speaking to reporters after presentation of the Budget, Sitharaman said the country has been waiting for a direct tax regime which is simplified and easy in compliance.

India's nominal GDP to be $3.5 trillion by end-March: Survey

India's nominal GDP to be $3.5 trillion by end-March: Survey

Rediff.com31 Jan 2023

India has already become the world's fifth largest economy in the 75th year of Independence and will reach the $3.5 trillion mark by end-March, said the Economic Survey tabled in Parliament on Tuesday. In real terms, the economy is expected to grow at 7 per cent for the year ending March 2023. This follows an 8.7 per cent growth in the previous financial year.

'Don't Expect A Populist Budget'

'Don't Expect A Populist Budget'

Rediff.com31 Jan 2023

'While the Budget would be growth-friendly, it would not come at the expense of an increase in the fiscal deficit.'

SVB crisis: Start-ups seek govt's help to bring money to India

SVB crisis: Start-ups seek govt's help to bring money to India

Rediff.com22 Mar 2023

Indian start-ups raised issues, such as blockages in international wire transfers, disruptions due to threshold limits on withdrawals, lack of communication from US agencies, and the need for preferential access to credit, in a meeting with the government over the fallout of Silicon Valley Bank's collapse. Rajeev Chandrasekhar, minister of state for electronics and information technology, held a virtual meeting with over 450 members from start-ups, venture capitalists, and investors who have been directly affected by the closure of SVB. He assured them that the IT ministry would put together a list of suggestions and give it to the finance minister on behalf of start-ups.

How India Can Overtake China

How India Can Overtake China

Rediff.com24 Feb 2023

India must integrate more with East Asia by getting into regional trade arrangements, lower its tariff walls, and improve the quality of its workforce, suggests T N Ninan.

How Much Assets Companies Added Since Pandemic

How Much Assets Companies Added Since Pandemic

Rediff.com24 Jan 2023

The Adani Group led in adding net fixed assets, which are up more than 90 per cent since September 2019 or before COVID-19.

India is 'dangerously close' to Hindu rate of growth: Raghuram Rajan

India is 'dangerously close' to Hindu rate of growth: Raghuram Rajan

Rediff.com5 Mar 2023

Sounding a note of caution, former Reserve Bank Governor Raghuram Rajan has said that India is "dangerously close" to the Hindu rate of growth in view of subdued private sector investment, high interest rates and slowing global growth. Rajan said that sequential slowdown in the quarterly growth, as revealed by the latest estimate of national income released by the National Statistical Office (NSO) last month, was worrying. Hindu rate of growth is a term describing low Indian economic growth rates from the 1950s to the 1980s, which averaged around 4 per cent.

Budget 2023: Here are the key challenges in technology sector

Budget 2023: Here are the key challenges in technology sector

Rediff.com23 Jan 2023

"India is the best market right now in the world with the digital initiatives the government has implemented

Swiggy lays off 380 employees; CEO Majety says overhiring 'poor judgement'

Swiggy lays off 380 employees; CEO Majety says overhiring 'poor judgement'

Rediff.com20 Jan 2023

Online food delivery platform Swiggy on Friday laid off 380 employees as part of a "restructuring exercise" citing challenging macroeconomic conditions, with its CEO Sriharsha Majety saying that overhiring was a case of "poor judgement" where he should have done better. In an internal email, Majety, co-founder and CEO, also apologised to the affected employees and said the "extremely difficult decision" taken after "exploring all available options" and offered an employee assistance plan for the impacted people. He said the growth rate for food delivery has slowed down versus the company's projections.

PLI scheme for more sectors likely in Budget 2023

PLI scheme for more sectors likely in Budget 2023

Rediff.com20 Jan 2023

The government is likely to extend fiscal incentives for production of toys, bicycles and leather and footwear in the forthcoming budget as it looks to expand production linked incentive (PLI) scheme to cover more high-employment potential sectors, sources said. The government has already rolled out the scheme with an outlay of about Rs 2 lakh crore for as many as 14 sectors, including automobiles and auto components, white goods, pharma, textiles, food products, high efficiency solar PV modules, advance chemistry cell and speciality steel. The scheme aims to make domestic manufacturing globally competitive and create global champions in manufacturing, and it is yielding solid results, sources said.

TDS limit for cooperative sector hiked to Rs 3cr, concessional tax for societies

TDS limit for cooperative sector hiked to Rs 3cr, concessional tax for societies

Rediff.com1 Feb 2023

For the cooperation ministry, the government made a total budget outlay of Rs 1,150.38 crore for 2023-24, lower than the revised estimate of Rs 1,624.74 crore for 2022-23.

Budget 2023: Tax sops, fiscal consolidation, a tight rope walk for Sitharaman

Budget 2023: Tax sops, fiscal consolidation, a tight rope walk for Sitharaman

Rediff.com31 Jan 2023

Finance Minister Nirmala Sitharaman will have to do a tight-rope walk between staying fiscally prudent and general public expectations of lower taxes and a wider social security net, while at the same time firing the engines of the economy before general elections. Sitharaman will on Wednesday present her fifth straight Budget at a time when the economy is slowing due to global headwinds and specific sectors need attention. In the run-up to the Budget presentation, expectations are rife that she may tweak income-tax slabs to provide relief to the middle class and increase spending on the poor through programmes such as the rural job scheme while ramping up financial incentives for local manufacturing.

Direct tax collection grows 26% from April-Nov

Direct tax collection grows 26% from April-Nov

Rediff.com31 Jan 2023

The gross tax revenues have touched 65 per cent of the Budget estimates at Rs 17.81 lakh crore during the first eight months of the current fiscal till November, propelled by corporate and personal income tax mop-up, according to the Economic Survey 2022-23 presented in Parliament on Tuesday. The survey, authored by Chief Economic Advisor V Anantha Nageswaran, said the 'substantial reforms' in India's taxation ecosystem post-2014 and policy reforms have removed the distortionary incentives from the economy. Reforms like GST, reduction in corporate taxes, exemption of sovereign wealth funds and pension funds from taxes, and removing Dividend Distribution tax have reduced the tax burden on individuals and businesses.

'Budget should set right stage for growth'

'Budget should set right stage for growth'

Rediff.com30 Jan 2023

'India is showing a reasonable amount of resilience, but we are still living in a world that is quite fragile.' 'That's why we hope that the government will continue to invest significantly in public capex so that we are able to ride through this cycle till the private sector is able to play its part in investing and adding to the capex cycle.'

India Inc sees Budget to define 'Amrit Kaal', expect extension of PLI scheme

India Inc sees Budget to define 'Amrit Kaal', expect extension of PLI scheme

Rediff.com13 Jan 2023

A vast majority of the business leaders believe that the Production Linked Incentive (PLI) schemes have been beneficial and expect an extension to other sectors in the coming years, a Deloitte Survey said on Friday. An overwhelming number of survey respondents hope the budget will fuel growth across industries by building strong domestic demand and focussing on capital expenditure and believe that it would define the 'Amrit Kaal'. "Critical to this growth will be the pace of capital expenditure, infrastructure development, and the need to boost infrastructure financing through private partnership. 60 per cent of respondents suggested raising funds through Indian Government Bonds," the survey said.

What led to Chinese buildup in Ladakh sector

What led to Chinese buildup in Ladakh sector

Rediff.com26 Jan 2023

The paper suggests the strategy needs to be area-specific eg, border tourism can be promoted aggressively in the Turtuk or Siachen sector, and Daulat Beg Oldi or Depsang plains.

Investors expect balanced Budget; focus on job creation, infra spending

Investors expect balanced Budget; focus on job creation, infra spending

Rediff.com25 Jan 2023

Stock market investors are expecting a balanced Budget with a focus on job creation, increased spending on infrastructure, reigning in the deficit, and bringing the economy back on track, experts said on Wednesday. Stock markets have been subdued in the run-up to the Union Budget with BSE's benchmark Sensex is almost flat so far this month. Even the corporate earning season failed to excite the markets, while some indices like IT and bankex have seen some positive movements.

Investors budget for growth on Feb 1; tax sops for salaried expected

Investors budget for growth on Feb 1; tax sops for salaried expected

Rediff.com24 Jan 2023

Reminiscent of the past two years, the market has made positive strides ahead of the Union Budget 2023-24 (FY24). The benchmark National Stock Exchange Nifty has gained 1.8 per cent in the last month. Typically, markets tend to gain ahead of the Budget as investors build in optimism.

'We may be late to board the bus, but we have not missed the bus'

'We may be late to board the bus, but we have not missed the bus'

Rediff.com11 Apr 2023

'India's manufacturing will take 10-15 years to catch up with China.'

Engineering & construction sector: 10 cos likely to see solid growth in FY24

Engineering & construction sector: 10 cos likely to see solid growth in FY24

Rediff.com20 Jan 2023

The engineering and construction (E&C) sector delivered an excellent performance in the last two financial years (FY2021-22 or FY22 and FY23's nine-months) and there's reason to believe that FY24 will also see outperformance. The sector has emerged from the pandemic with stronger balance sheets and more rational cost structures. It has a big order book and it should see new order flows accelerate in FY24.

Goa's 2nd airport a big boost for regional aviation

Goa's 2nd airport a big boost for regional aviation

Rediff.com19 Jan 2023

Goa's second airport began operations last week and if all goes according to plans, the state will be the base for a new regional airline, Fly91. Promoted by the ex-executive vice-president of now grounded Kingfisher Airlines, Manoj Chacko, and Fairfax India's former head, Harsha Raghavan, the airline will offer no-frills buy on board product and serve unconnected routes with two ATR 72 aircraft. An application for the initial no-objection clearance was filed with the civil aviation ministry last week.

Field testing started for fuel-agnostic engines

Field testing started for fuel-agnostic engines

Rediff.com19 Jan 2023

Cummins India will soon start producing fuel-agnostic engine systems at the Tata-Cummins plant in Phaltan in Satara district of Maharashtra, senior officials at Cummins India said. The firm will start limited production by the end of 2023 and mass production will likely begin by 2024, the officials said.

Green hydrogen pilot to cover steel, transport and shipping sectors

Green hydrogen pilot to cover steel, transport and shipping sectors

Rediff.com19 Jan 2023

The mission has proposed pilot projects for replacing fossil fuels and fossil fuel-based feedstocks with Green Hydrogen and its derivatives.

Budget 2023: Opposition slams 'limited focus' on health, education

Budget 2023: Opposition slams 'limited focus' on health, education

Rediff.com1 Feb 2023

Opposition leaders slammed the Centre on Wednesday for its 'limited' focus on important sectors like health and education in the Budget for 2023-24 fiscal.

Survey pegs 2024 economic growth at 6.5%

Survey pegs 2024 economic growth at 6.5%

Rediff.com31 Jan 2023

India's economy is projected to slow to 6.5 per cent in the fiscal year starting April but will remain the fastest growing major economy in the world as it fared better in dealing with the extraordinary set of challenges the globe has faced, the Economic Survey 2022-23 said on Tuesday. India's gross domestic product (GDP) growth of 6.5 per cent in 2023-24 compares with an estimated 7 per cent expansion in current fiscal year (April 2022 to March 2023) and 8.7 per cent in the previous year. Like the rest of the world, India too faced an extraordinary set of challenges in tightening financial conditions and supply chain disruptions from a prolonged war in Europe but "withstood them better than most economies", the annual document detailing the state of the economy said.

Budget 2023: FM May Go Slow On Capex

Budget 2023: FM May Go Slow On Capex

Rediff.com17 Jan 2023

For fiscal year FY23, the 2022 Union Budget had targeted a capex outlay of Rs 7.5 trillion, which is 35.4 per cent higher than the FY22 Budget Estimate of Rs 5.54 trillion.

Exports decline 12.2% in Dec; trade deficit widens

Exports decline 12.2% in Dec; trade deficit widens

Rediff.com16 Jan 2023

India's exports contracted 12.2 per cent to $34.48 billion in December 2022, mainly due to global headwinds, and the trade deficit widened to $23.76 billion during the same period, according to official data released on Monday. Imports in December 2022 also declined 3.5 per cent to $58.24 billion as against $60.33 billion in the year-ago period. In December 2021, exports stood at $39.27 billion and the trade deficit was at $21.06 billion.

'We are exploring setting up an aerotropolis'

'We are exploring setting up an aerotropolis'

Rediff.com10 Mar 2023

'We would like to develop Andhra Pradesh into a logistics hub not only for India, but also for South Asia.'

Pharma export body suspends Marion Biotech for no reply on syrup deaths

Pharma export body suspends Marion Biotech for no reply on syrup deaths

Rediff.com30 Dec 2022

The drug maker will lose some incentives if its membership is suspended, sources in Pharmexcil said.

Why Are Banks Wooing You?

Why Are Banks Wooing You?

Rediff.com15 Mar 2023

When he didn't respond (Mr Saver has lost count of how many relationship managers he has had in the past few years!), the gentleman landed up at his doorstep and started pleading with him to open fixed deposits with the bank, observes Tamal Bandyopadhyay.

Those who don't have courage to build anything steal: Uddhav targets Shinde

Those who don't have courage to build anything steal: Uddhav targets Shinde

Rediff.com29 Dec 2022

His statement comes a day after both the Sena factions faced off at the party's office in the Brihanmumbai Municipal Corporation headquarters in south Mumbai.

'Economic rebound has run out of steam'

'Economic rebound has run out of steam'

Rediff.com9 Mar 2023

'When the average growth in the last three years was just 2.5%, how does that make us the fastest growing country?' 'They only tell you what has happened in the last 2 years; they are not taking into account what happened in FY21 on account of their mistakes.'

FinMin's diktat to banks on selling insurance

FinMin's diktat to banks on selling insurance

Rediff.com23 Dec 2022

Concerned over rising incidence of mis-selling, the finance ministry has directed heads of public sector banks to put in place strong mechanisms to avoid unethical practices for selling insurance policies to customers. The Department of Financial Services has received complaints that fraudulent and unethical practices are adopted by banks and life insurance companies for procuring policies from the bank customers, a letter addressed to chairpersons and managing directors of public sector banks said. There have been instances where life insurance policies were sold to customers aged above 75 years in Tier II-III cities.

ITC Q3 net profit rises 23% to Rs 5,070 crore

ITC Q3 net profit rises 23% to Rs 5,070 crore

Rediff.com3 Feb 2023

ITC Ltd on Friday reported a 23.09 per cent increase in consolidated net profit at Rs 5,070.09 crore for the third quarter ended December 2022, helped by growth momentum across its operating segments. The diversified company had posted a net profit of Rs 4,118.80 crore during the October-December quarter of the previous fiscal, ITC said in a regulatory filing. Its revenue from operations was up 3.56 per cent to Rs 19,020.65 crore during the quarter under review, as against Rs 18,365.80 crore in the corresponding period of the previous fiscal.