Industry body PHDCCI has approached the government seeking reintroduction of the Credit Linked Capital Subsidy Scheme to facilitate technology upgradation of micro and small enterprises. The scheme provided an upfront capital subsidy of 15 per cent subject to a maximum amount of Rs 15 lakh on institutional finance availed by the enterprises for induction of [...]
Enforcement agencies under the Finance Ministry have attached immovable properties worth about Rs 1.11 lakh crore in the last six years, the ministry informed Parliament. Of this, in the current fiscal, immovable properties worth Rs 10,683 crore were attached by various central agencies viz ED, DRI (Directorate of Revenue Intelligence), Income Tax Department, etc. under [...]
Prime Minister Narendra Modi on Wednesday said India is moving fast to become a big exporter of telecom technology from being only a user few years ago. Addressing a gathering after inaugurating the International Telecommunication Union (ITU) Area Office and Innovation Centre here, Modi said India is one of countries to have rolled out 5G [...]
President Ranil Wickremesinghe told Parliament on Wednesday that the IMF bailout had restored Sri Lanka’s international recognition, ending the image of bankruptcy and helping the local banks regain foreign investors’ confidence. The IMF board had on Tuesday approved a USD 3 billion facility over a four-year period to help Sri Lanka emerge from its balance [...]
Finance minister Kailash Gahlot on Wednesday presented a Rs 78,800 crore budget in the Delhi assembly for the financial year 2023-24 with the announcement of nine schemes as part of the G-20 preparations. The Delhi government's budget size for 2022-23 was Rs 75,800 crore and Rs 69,000 crore in the preceding year. This was the [...]
A parliamentary panel has termed the opening of trapped underground coal reserves as a "right step" and said that the move will not only help in meeting the production of quality coal but will also reduce the import of dry fuel. The government has been taking several measures over the past to increase the domestic [...]
Unlike the global economy which is risk of recession, India would not slow down and maintain the pace of expansion achieved in 2022-23, said the RBI bulletin on Tuesday. Even as global growth is set to slow down or even enter a recession in 2023 as global financial markets wager, India has emerged from the [...]
A parliamentary panel has attributed low installation of solar roof-top and wind energy projects as key reasons for the shortfall in achieving India's renewable energy capacity target of 175 GW by 2022. India set an ambitious target of installing 175 GW of renewable energy capacity by the year 2022, which included 100 GW from solar, [...]
US aircraft maker Boeing has said India may require 31,000 pilots and some 26,000 mechanics over the next 20 years amid the growing order book of the aircraft original equipment manufacturers. Speaking on the sidelines of a CII event here, Boeing India President Salil Gupte also said the South Asian region is expected to remain [...]
Domestic tyre industry is expected to witness double-digit growth next fiscal with the automobile industry back on full swing, JK Tyre Chairman and Managing Director Raghupati Singhania said on Tuesday. JK Tyre, which on Tuesday introduced a tyre brand -- Levitas Ultra -- to cater to the luxury car segment, is also expected to follow [...]
