Search results for ' Incent'

With eye on China, PM's Op-Ed hails India-Japan ties

With eye on China, PM's Op-Ed hails India-Japan ties

Rediff.com23 May 2022

Prime Minister Modi, who is in Japan on a two-day visit to attend a summit of the Quad leaders at the invitation of his Japanese counterpart Fumio Kishida, penned an op-ed on the vibrant relations between India and Japan in the Yomiuri Shimbun.

We need Modi the Thanedar, not Chowkidar

We need Modi the Thanedar, not Chowkidar

Rediff.com8 Apr 2022

I am not sure if Modi can ever act as a chowkidar, even if he wants to. But he can surely act as a thanedar, by ensuring a fast resolution of corruption cases once they come to light. Exemplary action is easier and will burnish his anti-corruption image, argues Debashis Basu.

Kumar Birla: Budget invests boldly in India's future

Kumar Birla: Budget invests boldly in India's future

Rediff.com10 Feb 2022

As the FM said, this is a Budget that lays the foundation for the next 25 years, observes Kumar Mangalam Birla.

Retrofitted EVs: Indian jugaad that's cheap, clean & battery-powered

Retrofitted EVs: Indian jugaad that's cheap, clean & battery-powered

Rediff.com29 May 2022

India has a history of jugaad, and retrofitting vehicles is one such manifestation of the legendary Indian skill. Not so long ago autorickshaws and small Marutis used to strap on subsidised LPG cylinders and power themselves to a cheap ride. There were the odd explosions, lives were lost, but the jugaad continued. Then compressed natural gas (CNG) was introduced in Delhi following a court order. Initially, customised CNG kits were fitted to conventional (internal combustion engine or ICE) autos cheaply, enabling commuting at less than half of what you would cough up for diesel. The industry is better organised now with Suzuki and Hyundai designing CNG-fired vehicles, and Mahindra and TVS manufacturing liquefied petroleum gas (LPG)-powered three wheelers.

World Bank retains India's growth forecast at 8.3% for 2021-22

World Bank retains India's growth forecast at 8.3% for 2021-22

Rediff.com12 Jan 2022

The World Bank has retained India's economic growth forecast for the current fiscal at 8.3 per cent as the recovery is yet to become broad-based. As per the first advanced estimates of the national income released by the National Statistical Office (NSO) last week, the economy is projected to grow at 9.2 per cent in 2021-22, surpassing pre-COVID level in actual terms, mainly on account of improved performance, especially in farm, mining and manufacturing sectors. "India's economy is expected to expand by 8.3 per cent in fiscal year 2021/22 (ending March 2022), unchanged from last June's forecast as the recovery is yet to become broad-based.

Infosys won't work with Russian clients, says Salil Parekh

Infosys won't work with Russian clients, says Salil Parekh

Rediff.com13 Apr 2022

India's second-largest software services company Infosys on Wednesday posted 12 per cent year-on-year rise in consolidated net profit at Rs 5,686 crore for March quarter 2021-22. The Bengaluru-based company had registered a net profit (after minority interest) of Rs 5,076 crore in the corresponding period previous year, according to a regulatory filing. Infosys' revenue grew 22.7 per cent to Rs 32,276 crore in the quarter from Rs 26,311 crore in the year-ago period, it added.

Cricket: England opener Roy gets suspended ban

Cricket: England opener Roy gets suspended ban

Rediff.com23 Mar 2022

Dutch cricket ventures to a new frontier in maiden New Zealand voyage

Omicron may put export growth in slow lane

Omicron may put export growth in slow lane

Rediff.com10 Jan 2022

Uncertainty looms over India's export outlook, with the new Covid-19 variant Omicron spreading rapidly across the country's key shipment destinations. With the US and parts of Europe witnessing more than 100,000 Covid-19 cases a day, exporters expect some disruption. However, there may not be an immediate decline in exports from India because the order books remain strong at least for the next few weeks, they said.

Budget targets are achievable: Sitharaman

Budget targets are achievable: Sitharaman

Rediff.com2 Feb 2022

At the customary post-Budget media interactions, Finance Minister Nirmala Sitharaman and her topmost bureaucrats touched upon a number of issues. The minister said the government taxing income from digital virtual assets did not give them legitimacy and that issue was being dealt separately in the planned cryptocurrency Bill. She also expressed confidence that the Budget targets were achievable.

In 8-10 months, stage will be set for India's semiconductor biz: Minister

In 8-10 months, stage will be set for India's semiconductor biz: Minister

Rediff.com24 Feb 2022

The government will undertake a detailed evaluation of applications it has received in response to the mega semiconductor scheme and expects to complete the entire process and sign agreements with companies in next 8-10 months, according to Union Minister for Electronics and IT Ashwini Vaishnaw. Vaishnaw said he is happy with the response that came in within a short period of time, when the ministry invited applications under the Rs 76,000 crore semiconductor programme. The government is confident of seeing one of the big global players in semiconductor industry coming in the next round, Vaishnaw told PTI in an interview. He asserted that many other players too are "seriously evaluating" India's semiconductor programme, and that the ministry is in discussions with several companies.

India to have 1 billion smartphone users by 2026: Deloitte

India to have 1 billion smartphone users by 2026: Deloitte

Rediff.com22 Feb 2022

India will have 1 billion smartphone users by 2026 with rural areas driving the sale of internet-enabled phones, a Deloitte study said on Tuesday. India had 1.2 billion mobile subscribers in 2021, of which about 750 million are smartphone users. It is poised to be the second-largest smartphone manufacturer in the next five years. "The smartphone market is expected to reach 1 billion smartphone users by 2026," according to Deloitte's 2022 Global TMT (Technology, Media and Entertainment, Telecom) predictions.

Sidhu woos Punjab women voters with cash allowances, free LPG

Sidhu woos Punjab women voters with cash allowances, free LPG

Rediff.com3 Jan 2022

In a race to woo voters with freebies ahead of the upcoming state assembly elections, Punjab Congress chief Navjot Singh Sidhu on Monday promised Rs 2,000 per month for women homemakers if his party returns to power.

'Investment not gathering momentum will be a big risk factor for the economy'

'Investment not gathering momentum will be a big risk factor for the economy'

Rediff.com18 Feb 2022

'The government is trying to kickstart the investment cycle in India and while the corporate investments are yet to gather momentum, there are early signs of the same.'

National Hydrogen Policy unveiled. Here are the details

National Hydrogen Policy unveiled. Here are the details

Rediff.com17 Feb 2022

The government on Thursday allowed free inter-state wheeling of renewable energy used in the production of green hydrogen and ammonia as it seeks to boost usage of the carbon-free fuel and make India an export hub. Unveiling the first part of the much-awaited National Hydrogen Policy, Power and New and Renewable Energy Minister Raj Kumar Singh said the government is targeting production of 5 million tonnes of green hydrogen by 2030. Oil refineries to steel plants require hydrogen to produce finished products.

India Inc urges Budget sops to boost capex

India Inc urges Budget sops to boost capex

Rediff.com24 Jan 2022

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.

Indian smartphone brands reeling under Chinese onslaught

Indian smartphone brands reeling under Chinese onslaught

Rediff.com24 Jan 2022

The onslaught of Chinese mobile brands is virtually obliterating Indian brands, especially in terms of value. According to industry estimates based on excise and Custom duty trends, the value share of Indian brands (across smartphones and feature phones, operator phone sales - which is mostly Jio phones - and the value of phones smuggled into the country) has dropped to a mere 1.2 per cent in January-October 2021 compared to 25.4 per cent in the calendar year 2015. In the same period, the Chinese have established their domination, hitting a value share of 64.5 per cent, up from 17.8 per cent.

Economy has some bright spots & a number of very dark stains: Rajan

Economy has some bright spots & a number of very dark stains: Rajan

Rediff.com23 Jan 2022

The Indian economy has "some bright spots and a number of very dark stains" and the government should target its spending "carefully" so that there are no huge deficits, noted economist and former RBI Governor Raghuram Rajan said on Sunday. Known for his frank views, Rajan also said the government needs to do more to prevent a K-shaped recovery of the economy hit by the coronavirus pandemic. Generally, a K-shaped recovery will reflect a situation where technology and large capital firms recover at a far faster rate than small businesses and industries that have been significantly impacted by the pandemic.

Why Netflix Had To Cut Prices

Why Netflix Had To Cut Prices

Rediff.com29 Dec 2021

As of December 2021, Netflix India stood at an estimated 5 million subscribers against 46 million for Disney+Hotstar and 19 million for Amazon Prime Video.

BJP Punjab manifesto: 75% quota for locals in govt jobs

BJP Punjab manifesto: 75% quota for locals in govt jobs

Rediff.com12 Feb 2022

The BJP-led National Democratic Alliance released its manifesto for the February 20 Punjab polls on Saturday, promising a slew of sops for various sections, including 75 per cent reservation in all government jobs for youngsters from the state, an unemployment allowance, 35 per cent reservation for women in government jobs and massive infrastructure development.

Budget 2022: Industry groups want Sitharaman to rationalise I-T slabs

Budget 2022: Industry groups want Sitharaman to rationalise I-T slabs

Rediff.com22 Dec 2021

Rationalisation of income tax slabs, infrastructure status for digital services and incentives to hydrogen storage as well as fuel cell development were some of the suggestions made by various stakeholders at the pre-Budget consultation meeting convened by Finance Minister Nirmala Sitharaman. The customary pre-Budget consultation meetings were held with the finance minister virtually between December 15 and December 22, as per the finance ministry statement. More than 120 invitees representing seven stakeholder groups participated in eight meetings, scheduled during this period, it said.

Tatas in talks with Taiwan firms to make chips in India

Tatas in talks with Taiwan firms to make chips in India

Rediff.com22 Dec 2021

Tata Group is in discussions with some major international companies, including those from Taiwan, for its foray into the semiconductor chip business. The Union government had earlier tried to bring in Taiwanese manufacturers Taiwan Semiconductor Manufacturing Company (TSMC) and United Microelectronics Corporation (UMC) for chip manufacturing in India. A person close to the development said the Tatas have now opened a separate channel for a possible tie-up. Currently, India mostly imports chips, which are fabricated and assembled to put into various applications, including automobiles, renewable power, mobile phones, televisions, and other electronic items.

'Remain invested in equities for the long term'

'Remain invested in equities for the long term'

Rediff.com7 Feb 2022

'Short term volatility is likely due to various factors, global and domestic; investors may use this as an opportunity to increase the allocation to equities.'

EVs to see investment of Rs 94,000 cr in next 5 years

EVs to see investment of Rs 94,000 cr in next 5 years

Rediff.com16 Dec 2021

Electric vehicle market is likely to attract investments of Rs 94,000 crore over the next five years and is expected to generate business opportunities in the real estate sector, according to a joint report by Colliers India and Indospace. The report 'Electric Mobility in Full Gear' mentioned that the electric vehicle (EV) industry in India is currently at a nascent stage but it is likely to grow, backed by government initiatives and a move towards recognising climate change. "India is taking a step towards sustainability and has vowed to cut its carbon emissions. "At the recently concluded CoP26 summit, India pledged to reach net-zero carbon emissions by 2070. "In India, the transport sector is currently the third-largest emitter of CO2. This is leading to increased thrust on EVs in India," it said.

3 Reasons Why Markets Cheered Budget

3 Reasons Why Markets Cheered Budget

Rediff.com2 Feb 2022

'Market feels this Budget will promote all-round growth and that is what is giving it confidence.'

Budget 2022: Industry bodies urge govt to reduce tax burden

Budget 2022: Industry bodies urge govt to reduce tax burden

Rediff.com13 Dec 2021

Engineering Export Promotion Council (EEPC) of India has urged the Centre to extend lower corporate tax benefit to Limited Liability Partnerships (LLPs) and proprietary firms as it would make funds available with MSMEs and boost private investment cycle. A body of direct tax professionals also sought for reduction of tax burden on individuals and requested the government to raise the income tax exemption limit at Rs 2.5 lakh to Rs 4 lakh per annum in the upcoming budget for 2022-23 fiscal. EEPC India chairman Mahesh Desai claimed around 84 per cent of small businesses are being denied the benefit of lower corporate tax which was aimed at providing industrial units with more investible surplus.

Farm exports touched record Rs 3 lakh cr in 2020-21: Prez

Farm exports touched record Rs 3 lakh cr in 2020-21: Prez

Rediff.com31 Jan 2022

President Ram Nath Kovind on Monday said the country's farm production and procurement increased during 2020-21 crop year despite the pandemic and agricultural exports reached a record level of Rs 3 lakh crore during the same period. In his address to the joint sitting of both Houses of Parliament at the start of the Budget session, Kovind said the government is focusing on making the country self-sufficient in edible oils besides making special efforts to promote organic farming, natural farming and crop diversification. "My government is working continuously to empower the farmers and the rural economy of the country... I would like to give maximum credit to the small farmers of the country for this consistent success and strengthening of the agriculture sector," he said.

EV sales in India to touch 10 lakh units this year

EV sales in India to touch 10 lakh units this year

Rediff.com6 Jan 2022

Sales of total electric vehicles in India are expected to be around 10 lakh units this year, equal to what was sold collectively in the last 15 years, mainly riding on the good traction witnessed by electric two-wheelers, Society of Manufacturers of Electric Vehicles (SMEV) said on Thursday. In 2021, the sales of electric two-wheelers (E2Ws) in the country jumped over two-fold at 233,971 units driven by a good traction of high-speed scooters as compared to 100,736 units in 2020, SMEV said in a statement. "We haven't seen better days than the last few months in the entire EV journey.

Ola, Uber score 0 in gig worker rankings

Ola, Uber score 0 in gig worker rankings

Rediff.com5 Jan 2022

Fairwork focuses on five principles of fair gig work: Fair pay, fair conditions, fair contracts, fair management, and fair representation.

New projects drop for 2nd straight quarter

New projects drop for 2nd straight quarter

Rediff.com3 Jan 2022

New projects fell 6.3 per cent in the December quarter compared with the September quarter. The value of new projects in the just-concluded quarter was Rs 2.1 trillion, according to the data from Centre for Monitoring Indian Economy (CMIE), which was lower than the Rs 2.2 trillion seen in the September quarter. It is, however, higher than Rs 1.5 trillion recorded for the quarter ended December 2020, the first year of the Covid-19 pandemic. This data ties in with the November data for core sector growth, an index of eight core industries, which grew at its slowest pace since early 2021.

Now, Channi uses 'wet pants' to take swipe at Sidhu

Now, Channi uses 'wet pants' to take swipe at Sidhu

Rediff.com31 Dec 2021

In what is being seen as a veiled jibe at Punjab Congress president Navjot Singh Sidhu, CM Charanjit Singh Channi on Friday asked policemen not to bother about who says what and said criminals wet their pants on seeing them.

10 stocks that FPIs bought and sold the most

10 stocks that FPIs bought and sold the most

Rediff.com12 May 2022

The FPI holding in India's top 100 companies, which are part of the Nifty 100 index, declined to 24.23 per cent on average at the end of March this year, from a high of 27.5 per cent at the end of March 2021. This is the lowest FPI holdings in India's top listed companies in at least three years. A general sell-off by FPIs has weighed on stock prices and the benchmark S&P BSE Sensex is down 8.5 per cent, from its 52-week high made in October 2021. Most analysts expect FPI flows to remain weak in FY23 as well, given rising bond yields in the US and an expected earnings slowdown in India due to high inflation and commodity prices.

Property registration in Mumbai hits 10-year high

Property registration in Mumbai hits 10-year high

Rediff.com28 Dec 2021

Property registrations in Mumbai hit the 100,000-mark till November, marking a 10-year high as "demand enablers" like low prices and cheaper interest rates lure people to buy homes in India's financial capital. The previous 10-year high was 80,746 units in 2018. November 2021 recorded property sale registrations of 7,582 units: an 18 per-cent decline compared to same month last year (YoY) when stamp duty rate was at its lowest level of two per cent, said property consultant Knight Frank India, quoting data from the Maharashtra government's Department of Registrations and Stamps. Compared to October or a month-on-month (MoM) basis, registrations are lower by 12 per cent.

Kerala tops Niti Aayog's health report card, UP worst

Kerala tops Niti Aayog's health report card, UP worst

Rediff.com27 Dec 2021

Kerala has again emerged as the top ranking state in terms of overall health performance among larger states, while Uttar Pradesh is the worst, according to the fourth Health Index launched by Niti Aayog.

The Meteoric Rise Of Pan-Indian Films

The Meteoric Rise Of Pan-Indian Films

Rediff.com6 Mar 2022

'This is the best time to do a pan-Indian film.'

Passenger vehicle sales slide 13% in December on chip shortage

Passenger vehicle sales slide 13% in December on chip shortage

Rediff.com14 Jan 2022

Passenger vehicle dispatches from factories to dealers declined 13 per cent to the lowest level in five years in December last year as the industry continued to face production issues due to semiconductor shortage, auto industry body SIAM said on Friday. Passenger vehicle dispatches last month stood at 2,19,421 units compared to 2,52,998 units in December 2020. While acknowledging that the chip shortage situation is not expected to dramatically change in the short term, the industry body expressed hope that things will improve soon.

After brisk Dec, hotels face biz loss as Omicron drives cancellations

After brisk Dec, hotels face biz loss as Omicron drives cancellations

Rediff.com13 Jan 2022

In a bad start to the new year, hotels are counting their losses again. Weddings and corporate events for this month have either been called off or postponed. The blow has throttled the nascent recovery which had kicked in around August. It is primarily hurting the banquet-driven hotel chains, some of which are seeing cancellations running into lakhs for a single day.

'Stock markets reflect the economy less'

'Stock markets reflect the economy less'

Rediff.com18 Dec 2021

'It is far too early to celebrate the numbers.' 'They are still fairly weak compared to the pre-pandemic level.'

Why govt extended concessional corporate tax rate till March 2024

Why govt extended concessional corporate tax rate till March 2024

Rediff.com4 Feb 2022

The government wants new domestic companies to set up their manufacturing units fast and hence the concessional tax rate of 15 per cent has been extended by a year till March 2024, revenue secretary Tarun Bajaj said on Friday. Stating that direct and indirect tax collections are going up and have good buoyancy, Bajaj said it means that the corporate sector is also doing well, and India's tax to GDP ratio could be "highest ever" in the current year. The Budget 2022-23 presented on February 1 has proposed that the concessional 15 per cent corporate tax rate would be available for one more year till March 2024 for newly incorporated manufacturing units.

Telecom gear makers want PLI scheme extended by a year

Telecom gear makers want PLI scheme extended by a year

Rediff.com15 Dec 2021

With the spectrum auction now delayed till at least next May, the expected 5G orders for telecom equipment have not been sealed, the companies point out. Surajeet Das Gupta reports.

Highlights of Union Budget 2022-23

Highlights of Union Budget 2022-23

Rediff.com1 Feb 2022

Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.