Search results for ' Incent'

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.

Mobile phone makers want relaxation under PLI scheme

Mobile phone makers want relaxation under PLI scheme

Rediff.com5 Apr 2021

In a communication to the empowered committee on PLI recently, the Indian Cellular & Electronics Association (ICEA) has stated that except one player (Samsung), all the other eight players (which include vendors of Apple Inc) selected under the scheme were facing numerous challenges in fulfilling the qualification criteria.

Incentives for hybrid, electric cars

Incentives for hybrid, electric cars

Rediff.com28 Feb 2011

Government wants to encourage manufacturing and selling of alternative fuel-based vehicles.

SBI slashes FY23 growth forecast to 6.8% on way-below Q1 numbers

SBI slashes FY23 growth forecast to 6.8% on way-below Q1 numbers

Rediff.com1 Sep 2022

Chief economist at State Bank of India has revised downward the full-year growth forecast to a low 6.8 per cent from 7.5 per cent earlier for FY2023, citing "the way below GDP numbers for the first quarter". The National Statistical Office on Wednesday released the Q1 growth numbers which showed a consensus growth of 13.5 per cent, pulled down by the poor show of the manufacturing sector, which reported a paltry 4.8 per cent expansion in the first three months of FY23, negating the robust show by the services sector. Consensus forecast was 15-16.7 per cent of which the RBI made the highest forecast of 16.7 per cent.

India to be fastest-growing economy, says Kumar Mangalam Birla

India to be fastest-growing economy, says Kumar Mangalam Birla

Rediff.com25 Jul 2022

India is poised to be the fastest-growing major economy in the world and an engine of global growth despite global headwinds, says leading industrialist and Aditya Birla Group Chairman Kumar Mangalam Birla. The economic activity in India has witnessed a sharp recovery to pre-pandemic levels on the back of a rapid and widespread rollout of the vaccination programme, Birla said in the latest annual report of UltraTech Cement Ltd. "A strong digital ecosystem, fiscal and monetary policy and various government schemes helped small and medium enterprises and the worst affected sections of the population to survive while reviving demand and bringing the economy back on track," said Birla while addressing UltraTech's shareholders.

Reliance sets its drone biz plan in motion

Reliance sets its drone biz plan in motion

Rediff.com18 Feb 2022

Reliance Industries has put together an aggressive plan to build its drone business which includes expanding manufacturing capacity five-fold, participating in the new drone production linked incentive scheme, and experimenting with limited logistics payloads to deliver goods. The target is to become a key player in the expected $5 billion market in India by the end of the decade. The drone business is being carried out through a Bangalore-based start up, Asteria Aerospace, in which Reliance has taken a majority stake. Asteria is a subsidiary of Jio Platforms Ltd.

Neeraj Chopra shatters own national record in Finland

Neeraj Chopra shatters own national record in Finland

Rediff.com15 Jun 2022

Chopra had said in recent media interactions that he would not put himself under pressure with the thought of throwing beyond 90m and would look to build up gradually to peak during the July 15-24 World Championships in Eugene, USA.

Ford India workers' protest for better severance package enters Day 4

Ford India workers' protest for better severance package enters Day 4

Rediff.com3 Jun 2022

With Tata Motors subsidiary taking over Ford's passenger vehicle (PV) manufacturing unit at Sanand in Gujarat, uncertainty over the future of Ford's Maraimalai Nagar unit in Tamil Nadu continues, with workers protesting on Thursday demanding a better severance package. There are over 2,000 employees working at the unit. On Thursday, there was a meeting between agitating employees and the state labour department. The workers started protests at the Chennai unit after Tata Passenger Electric Mobility signed a tripartite memorandum of understanding with Ford India and the Government of Gujarat for acquisition of Ford's PV manufacturing plant at Sanand.

EVs to drive auto capex up by Rs 70,630 crore in 5 years

EVs to drive auto capex up by Rs 70,630 crore in 5 years

Rediff.com13 Jun 2022

Automobile manufacturers, new and old, as well as ancillary suppliers are set to spend a combined Rs 70,630 crore over the next five years on either entering the electric vehicle segment or stepping up their presence in it. Data culled from announcements made by firms shows India, the world's fifth largest automobile market, is poised to receive one of the biggest capex pushes ever to fuel the transition from internal combustion engines to electric motors and batteries as part of a green drive. The EV push, egged on by the government's emphasis on electric mobility to meet its net zero targets, is expected to yield at least 25 electric vehicles - new ones as well as electrified versions of existing vehicles running on internal combustion engines.

415 mn Indians exited poverty in 2005-21, UN calls it historic

415 mn Indians exited poverty in 2005-21, UN calls it historic

Rediff.com17 Oct 2022

The number of poor people in India fell by about 415 million between 2005-06 and 2019-21, a "historic change" and a demonstration that the Sustainable Development Goal target of reducing at least by half the proportion of men, women and children of all ages living in poverty by 2030 is possible to achieve, even at a large scale, according to the UN.

E-commerce majors tighten purse strings, reduce incentives

E-commerce majors tighten purse strings, reduce incentives

Rediff.com7 Jun 2016

Flipkart, Amazon & Paytm have raised commissions from sellers.

The Caste System In Govt Employment

The Caste System In Govt Employment

Rediff.com1 Aug 2022

For large numbers of employees in the government system, the month-end salary cheque is no longer guaranteed. So the days of the government and State-owned enterprises wanting to be ideal employers are over, observes T N Ninan.

Tata Motors signs MoU for Ford India's Sanand plant

Tata Motors signs MoU for Ford India's Sanand plant

Rediff.com30 May 2022

Tata Motors on Monday said its subsidiary and Ford India have inked a pact with the Gujarat government to acquire FIPL's Sanand vehicle manufacturing plant. Tata Passenger Electric Mobility Ltd (TPEML) -- a subsidiary of Tata Motors -- and Ford India Pvt Ltd (FIPL) have today signed a memorandum of understanding (MOU) with the Gujarat government for the potential acquisition of FIPL's Sanand vehicle manufacturing facility, including land, buildings, vehicle manufacturing plant, machinery and equipment, Tata Motors said in a regulatory filing. The MoU also includes the transfer of all eligible employees of FIPL Sanand's vehicle manufacturing operations, subject to the signing of definitive agreements and receipt of relevant approvals, it added.

Govt to release Rs 56,027 cr to exporters against pending tax refunds

Govt to release Rs 56,027 cr to exporters against pending tax refunds

Rediff.com9 Sep 2021

Giving a relief to exporters community, the government on Thursday said it will release Rs 56,027 crore to exporters against pending tax refunds under different incentive schemes for outbound shipments. The amount will be disbursed to more than 45,000 exporters. Briefing the media about the decision, Commerce and Industry Minister Piyush Goyal said that the Rs 56,027 crore, which is being released under various export promotion schemes, is over and above duty remission of Rs 12,454 crore for the Remission of Duties and Taxes on Export Products (RoDTEP) Scheme and Rs 6,946 crore for Rebate of State and Central Levies and Taxes (RoSCTL) Scheme already announced.

India Wants World's Money, But Not World's Modernity

India Wants World's Money, But Not World's Modernity

Rediff.com14 Oct 2022

A bit of economic reforms stalled and decisions delayed -- what Narayana Murthy spoke of -- don't hurt if a country's compassionate and inclusive social fabric has survived intact; if the country is happy, observes Shyam G Menon.

Ethical Code to keep doctor, drugmaker nexus at bay not mandatory yet

Ethical Code to keep doctor, drugmaker nexus at bay not mandatory yet

Rediff.com22 Aug 2022

'Gift-giving' - from free dinners and drug samples to promotional merchandise - seems to be driving drugmakers' marketing - a marketing prescription deeply entrenched in the industry. This is a well-oiled racket that sees pharmaceutical (pharma) companies 'gifting' doctors to push their respective drugs under the guise of marketing. But is there a cure in sight to end this unhealthy alliance? The recent controversy following the income-tax raids on Bengaluru-based drugmaker Micro Labs, makers of popular paracetamol brand Dolo-650, has brought this to the fore, again.

The Akasa Air experience as it takes to the skies

The Akasa Air experience as it takes to the skies

Rediff.com8 Aug 2022

Sundays are generally quiet days for air travel, but this Sunday was a tad different. There was quite an excitement at Gate 28 of Mumbai airport's Terminal 1 as Akasa Air, India's newest airline, prepared to take to the skies on Day 1. With a new fuel-efficient Boeing 737 Max aircraft and soft cushioned seats equipped with USB ports, Akasa Air hopes to bring freshness to the flying experience.

RBI Norms Don't Tackle Illegal Apps Menace

RBI Norms Don't Tackle Illegal Apps Menace

Rediff.com11 Oct 2022

Of the 2,562 customer complaints received between January 2020 and March 2021, a majority relate to illegal apps. At least two dozen suicide cases have been reported, perpetrated by the harassment by loan app operators, points out Tamal Bandyopadhyay.

Onboarding of e-commerce giants crucial to ensure success of ONDC

Onboarding of e-commerce giants crucial to ensure success of ONDC

Rediff.com15 Sep 2022

When Open Network for Digital Commerce (ONDC) was conceived last December, the idea was to reduce the dominance of e-commerce giants like Amazon and Flipkart. It was also to bring in a level-playing field for small merchants in India's fragmented but fast-growing $1-trillion retail market. However, those goals have changed now as large e-commerce players such as Flipkart, Amazon and Ecom Express are in various levels of talks with the ONDC team. They want to form partnerships like integrating with the network as well as providing their expertise to build it, according to the industry sources.

How Bajaj Auto, TVS Motor may outperform Hero MotoCorp

How Bajaj Auto, TVS Motor may outperform Hero MotoCorp

Rediff.com6 Jan 2021

Bajaj Auto and TVS Motor are the largest exporters in the listed space with export revenues of Rs 12,000 crore and Rs 5,000 crore.

Infosys Q3 net profit up 11.8% at Rs 5,809 cr

Infosys Q3 net profit up 11.8% at Rs 5,809 cr

Rediff.com12 Jan 2022

The Bengaluru-based company had registered a net profit (after minority interest) of Rs 5,197 crore a year ago, a regulatory filing said. Infosys' revenue grew 22.9 per cent to Rs 31,867 crore in the quarter ended December 2021 from Rs 25,927 crore in the year-ago period, it added.

Gujarat/Himachal's 2024 Message For Modi

Gujarat/Himachal's 2024 Message For Modi

Rediff.com10 Dec 2022

The message for 2024 is that the man on the street is not going to be euphoric if the G-20 crowns Modi as king-emperor for 2023, or if India sends its first man to space just ahead of the Lok Sabha polls. Even a 'temple consecration' in Ayodhya, or a Uniform Civil Code, or both of them together, may not have enough electoral purchase if fuel and commodity prices are not rolled back, and money-in-the-pocket does not fatten, points out N Sathiya Moorthy.

Atmanirbhar and PLI: Why Modi's ambitious manufacturing targets are unachievable

Atmanirbhar and PLI: Why Modi's ambitious manufacturing targets are unachievable

Rediff.com12 Mar 2021

Recently, Prime Minister Narendra Modi met over 40 CEOs across broad swathes of industry, ranging from makers of mobile devices, auto components, food products to telecom networking equipment and pharmaceuticals. The agenda: To discuss how to make India an integral part of the global supply chain. The focus of the discussion would be the much touted yet not so well understood production-linked incentive scheme (PLI), the centrepiece of the government's drive to massively boost the manufacturing sector. To do so, the government has created a war chest of over Rs 197,000 crore to be paid out as incentives to over 14 industries in five years. There are three objectives to the scheme, two explicitly stated, one implied.

Why Are India's Rich Reluctant Givers?

Why Are India's Rich Reluctant Givers?

Rediff.com8 Apr 2022

A sudden surge in wealth because of stock market gains after the pandemic could be one of the factors behind the relatively lower share of philanthropy in total wealth.

Vehicles bought after scrapping old ones to get tax sops

Vehicles bought after scrapping old ones to get tax sops

Rediff.com6 Oct 2021

The Union Road Transport and Highways Ministry on Wednesday said the states and union territories (UTs) will provide up to 25 per cent rebate on road tax for vehicles that are purchased after scrapping old vehicles under the new National Automobile Scrappage Policy. The ministry in a press note said that in the vehicle scrapping policy, it is proposed to have a system of incentives to nudge vehicle owners to discard old and polluting vehicles. "As an incentive for scrapping, concession is stipulated in the motor vehicle tax for a vehicle registered against submission of Certificate of Deposit, which is issued by a Registered Vehicle Scrapping Facility.

RCP Singh should heed message and resign from Cabinet: Nitish aide

RCP Singh should heed message and resign from Cabinet: Nitish aide

Rediff.com15 Jun 2022

Union minister RCP Singh, who was recently denied another term in the Rajya Sabha by the Janata Dal-United he formerly headed, should "heed the message" and resign from the cabinet, a key political aide of Bihar Chief Minister Nitish Kumar has said.

Labour codes not to kick in from Friday even as states, UTs frame rules

Labour codes not to kick in from Friday even as states, UTs frame rules

Rediff.com1 Jul 2022

The Union government will take a bit longer to introduce the much-awaited labour codes even as the majority of states and Union Territories (UTs) have framed rules on them. There were speculations that these would be introduced from July 1. While 30 states and UTs have framed rules on the code on wages, 25 of them have done so on industrial relations. Of the two remaining codes, 24 states and UTs have framed rules on social security and 23 on occupational safety, health, and working conditions (OSH), sources said.

Is Gangubai Kathiawadi Bhansali's MOST DIFFICULT film?

Is Gangubai Kathiawadi Bhansali's MOST DIFFICULT film?

Rediff.com2 Jul 2021

'Suffering has always been an incentive for my creativity.'

L&T CEO Subrahmanyan gets 115% jump in salary in FY22 as business grows

L&T CEO Subrahmanyan gets 115% jump in salary in FY22 as business grows

Rediff.com14 Jul 2022

Engineering giant Larsen & Toubro (L&T) handed out a pay cheque of Rs 61.27 crore to its chief executive officer (CEO) and managing director (MD) SN Subrahmanyan in the last financial year (FY22), which is a near 115 per cent hike over FY21, as executive compensation at India Inc comes under sharp focus after two years of Covid-19. In fact, the total compensation of L&T's executive directors (including Subrahmanyan) in FY22 was 120 to 670 times the median remuneration of the company's employees, data from its FY22 annual report shows. This points to sharp hikes that the top management saw in their remuneration during the period, experts in human resources said. In FY21, L&T's executive compensation was 56 to 337 times the median remuneration of company employees.

Ola likely to price its e-scooter in the range of Rs 85,000-1.1 lakh

Ola likely to price its e-scooter in the range of Rs 85,000-1.1 lakh

Rediff.com28 Jul 2021

The entry of SoftBank-backed Ola into the electric scooter (e-scooter) segment is set to power up the overall market and perhaps fast-track the adoption of battery-operated vehicles. But for manufacturers of internal combustion engine (ICE)-powered two-wheelers, such as Bajaj Auto, Hero MotoCorp, and TVS Motor, it will be a double whammy. Not only will they have to contend with the aggressive pricing of Ola's scooter and incur a loss at each unit of the e-scooter sold, the volumes of their regular (ICE) models, too, could feel the squeeze, observed analysts. Ola is expected to price its e-scooter in the range of Rs 85,000-1.1 lakh.

Chip shortage forced firms to curtail production: Survey

Chip shortage forced firms to curtail production: Survey

Rediff.com31 Jan 2022

According to the survey report, the government's move to earmark Rs 76,000 crore outlay for semiconductors and display manufacturing segment will aid their production in the country. The survey said that government intervention to boost semiconductors and display manufacturing ecosystem in the country has come at a time when the global economy is facing acute shortage of semiconductors due to severe disruptions in supply chains.

'5G services likely in 50 top cities by March 2023'

'5G services likely in 50 top cities by March 2023'

Rediff.com19 May 2022

Telecom gear makers, who are in talks with telcos, say that if all goes well, they are ready to roll out the first phase of 5G services from October this year and cover the country's top 30-50 cities (in limited areas) by March 2023. The gear makers expect the telecom companies to give them a heads-up about their plans as well as the equipment required by July, and have promised deployment in three to four months after that. India's main telecom gear suppliers are Nokia, Ericsson and Samsung.

Engineering, telecom, healthcare to add 12 mn jobs by FY26

Engineering, telecom, healthcare to add 12 mn jobs by FY26

Rediff.com27 Mar 2022

Engineering, telecom and healthcare sectors are likely to add close to 12 million new jobs by FY26, largely due to the focus on recovery along with technology proliferation and digitisation in these segments, according to a report. A report by TeamLease Digital, the staffing division of TeamLease Services, said specialised staff or professional staff with high-skill and expertise will form nearly 17 per cent of the overall jobs created. The report -- titled 'Professional Staffing - Digital Employment Trends Report' -- is a qualitative research that has surveyed and interviewed more than 750 employers/ leaders from across engineering, telecom and healthcare sectors.

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.

Raksha Bandhan Review

Raksha Bandhan Review

Rediff.com11 Aug 2022

Dangerous messaging punctuates every ounce of its storyline wherein dowry is normalised, the kidney is a small price to pay for it, observes Sukanya Verma.

Bank credit likely to grow at 4-year high of 11-12% in FY23

Bank credit likely to grow at 4-year high of 11-12% in FY23

Rediff.com29 Apr 2022

Bank credit is likely to grow at a four-year high of 11-12 per cent in fiscal 2023, on the back of better economic growth and budgetary support from the government, according to a report. In the fiscal ended March 2022, bank advances have likely grown at 9-10 per cent. "Healthy economic growth and budgetary support from the government should lift bank credit growth by 200-300 basis points to 11-12 per cent this fiscal," Crisil Ratings said in the report. The higher credit growth expectation is also supported by the improved resilience of the banking system, it added.

Agnipath: Govt offers sops as violent protests continue

Agnipath: Govt offers sops as violent protests continue

Rediff.com18 Jun 2022

In Bihar, where a bandh had been called, a railway station and a police vehicle were torched, an ambulance attacked and security personnel injured in stone-pelting incidents on the fourth consecutive day of the agitation, while protesters vandalised Ludhiana railway station in Punjab and blocked roads and rail tracks in West Bengal, Haryana, Rajasthan, Maharashtra, Odisha and Uttar Pradesh.

Indo-US ties: Force for good: Modi; Among closest on Earth: Biden

Indo-US ties: Force for good: Modi; Among closest on Earth: Biden

Rediff.com24 May 2022

Biden praised India's Covid vaccination efforts.

'Mentors are your GPS to success'

'Mentors are your GPS to success'

Rediff.com1 Sep 2022

'Remember to pick a mentor, with whom there are one or two degrees of separation.' 'Any more than that, you are wasting time.'

'The sooner we junk the rhetoric of freebies, the better'

'The sooner we junk the rhetoric of freebies, the better'

Rediff.com1 Sep 2022

'Welfare schemes are not a necessary evil, they are a necessary good.'