Union minister Nitin Gadkari on Friday said that if India can use recently discovered reserve of lithium in Jammu and Kashmir, it can become world's number one automobile manufacturer in electric vehicle segment. Addressing an event organised by industry body CII, the road, transport and highway minister said there is a need to encourage public [...]
The Ministry of Defence has signed two contracts worth ₹ 3800 crores with Navratna PSU Bharat Electronics Ltd (BEL) for the supply of Medium Power Radar and Digital Radar Warning Receiver (RWR) for the Indian Air Force. Shares of BEL were trading at ₹ 92.85 apiece at 12:08 PM on Friday. The medium power radar [...]
In signs of protests against the 9-month-old windfall tax, mining mogul Anil Agarwal's Vedanta Ltd has withheld about USD 91 million from the share of profit due to government from its oil and gas fields, to make up for the additional tax outgo, according to sources and correspondence on the issue. India first imposed windfall [...]
Credit card payments for foreign travel will be brought under the purview of the Liberalised Remittance Scheme (LRS) of the Reserve Bank, to ensure that such expenses do not escape TCS (Tax Collection at Source). While moving the Finance Bill 2023 for consideration and passage in the Lok Sabha on Friday, Finance Minister Nirmala Sitharaman [...]
Former Engineer-in-Chief of Indian Armed Forces Lt Gen Harpal Singh has taken over as the President of India chapter of International Road Federation (IRF), a global road safety body working for better and safer roads world-wide. The Governing Council of the International Road Federation – India Chapter on March 18, 2023 unanimously endorsed Singh as [...]
Zydus Lifesciences Ltd on Friday said it has received final approval from the US health regulator for its generic doxepin hydrochloride capsules used in the treatment of depression and anxiety. The approval granted by the US Food and Drug Administration (USFDA) is for doxepin hydrochloride capsules of strength 150 mg, the company said in a [...]
In a filing with the exchange yesterday, Adani Power Ltd (APL) mentioned that it has sold a 100% stake in Support Properties Pvt. to AdaniConnex Pvt. at an enterprise value of Rs 1,556.5 crores. The filing further mentioned that the parties have executed a Share Purchase Agreement and concluded the transaction. Earlier in November 2022, [...]
The government on Friday announced that a committee under the finance secretary will be set up to improve the New Pension System (NPS) Awith a view to take care of the concerns of employees while maintaining fiscal prudence. While moving the Finance Bill 2023 for consideration and passage in the Lok Sabha, finance minister Nirmala [...]
State-owned Power Grid Corporation's board has approved rasing up to Rs 600 crore through bonds to be issued on private placement basis. "Committee of directors for bonds, in their meeting held today i.e. on 24th March, 2023, have approved the raising of unsecured, non-convertible, non-cumulative, redeemable, taxable POWERGRID Bonds-LXXII (72nd) issue 2022-23 on private placement [...]
Lok Sabha on Friday cleared changes in the Finance Bill to pave the way for setting up of an appellate tribunal for resolution of disputes under GST. Currently, taxpayers are filing writ petitions before high courts in the absence of the appellate tribunal. As per the amendments proposed in the Finance Bill 2023, which was [...]
