(PTI) India’s industrial production rose by 4.3 per cent in December, according to official data released on Friday. Factory output measured in terms of the Index of Industrial Production (IIP) grew by 1 per cent in December 2021. The data released by the National Statistical Office (NSO) showed that the manufacturing sector’s output grew by 2.6 per cent in December 2022. Mining output rose by 9.8 per cent and power generation increased by 10.4 per cent during the month under review.
Author: Aruna Sharma
(ET) A team of officials working with India’s Goods and Services Tax Council will decide cutting rates for cement on February 18, the chairperson of the Central Board of Indirect Taxes and Customs said. “GST Council to meet on February 18. Fitment Committee will meet to decide on rate reduction on cement as announced by Finance Minister. Currently, there is 28 per cent GST on cement,” Vivek Johri, CBIC Chairman said. Finance minister Nirmala Sitharaman recently indicated that industry’s demand for trimming the 28% goods and services tax levy on cement, a key input for the infrastructure sector, could be taken to…
(DJ) मुख्यमंत्री योगी आदित्यनाथ ने कहा है कि प्रधानमंत्री नरेंद्र मोदी के विजन के अनुरूप ‘नए भारत का नया उत्तर प्रदेश’ देश के ग्रोथ इंजन की बड़ी भूमिका निभाने को तैयार है। उत्तर प्रदेश ग्लोबल इन्वेस्टर्स समिट के शुभारंभ के मौके पर मुख्यमंत्री ने कहा कि प्रधानमंत्री के ‘रिफॉर्म, परफॉर्म ट्रांसफार्म’ के मंत्र को आत्मसात कर उत्तर प्रदेश ने जो प्रयास किए, उसी का परिणाम है कि आज इस निवेश के महाकुंभ के माध्यम से उत्तर प्रदेश को 32 लाख 92 हजार करोड़ के निवेश प्रस्ताव प्राप्त हुए हैं। सीएम योगी ने कहा यूपी ने अपने परिवेश को औद्योगिक विकास…
(ET) State-owned GAIL (India) Ltd has signed an advance pricing agreement with the Central Board of Direct Taxes (CBDT) for determining the transfer pricing margin payable on the long-term LNG the firm sources from the US. The pact was signed by Rasmi Ranjan Das of CBDT and R K Jain, Director (Finance), GAIL, the company said in a statement. “GAIL and CBDT entered into a landmark advance pricing agreement (APA) for determining the transfer pricing margin payable on its long-term LNG sourcing contract from USA for the period of five years,” it said. “The APA scheme enhances the government’s goal of…
(ET) Russia will cut oil production by 500,000 barrels per day, or around 5% of output, in March, Deputy Prime Minister Alexander Novak said on Friday, after the West slapped price caps on Russian oil and oil products. The G7, the European Union and Australia agreed to ban the use of Western-supplied maritime insurance, finance and brokering for seaborne Russian oil priced above $60 per barrel from Dec. 5 as part of Western sanctions on Moscow over its actions in Ukraine. The EU also slapped a ban on purchases of Russian oil products and set price caps from Feb. 5.…
A sustained and conscious effort is being made to ensure that the benefits of the Budget are felt across all sections of society in the country. While tabling the Union Budget 2023-24 in Parliament today, the Union Minister for Finance and Corporate Affairs, Smt Nirmala Sitharaman said, “We envision a prosperous and inclusive India, in which the fruits of development reach all regions and citizens.” Priority 2: Reaching the Last Mile Pradhan Mantri PVTG Development Mission In order to improve socio-economic conditions of the particularly vulnerable tribal groups (PVTGs), the Finance Minister stated that the Pradhan Mantri PVTG Development Mission will…
To empower our youth and help the ‘Amrit Peedhi’ realize their dreams, we have formulated the National Education Policy, focused on skilling, adopted economic policies that facilitate job creation at scale, and have supported business opportunities, said Union Minister for Finance & Corporate Affairs Smt Nirmala Sitharaman while presenting the Union budget 2023-2024 in Parliament here today. Union Budget 2023-2024 adopts seven priorities, which complement each other and act as the ‘Saptarishi’ guiding us through the Amrit Kaal. Youth Power is one of the priority areas which include Skill Development. Pradhan Mantri Kaushal Vikas Yojana 4.0 The Finance Minister announced that Pradhan Mantri Kaushal Vikas…
(FE) Nirmala Sitharaman, Indian Finance Minister, highlighted the importance of Artificial Intelligence (AI) at the Union Budget session for FY24, and that it will be based on three centres of excellence. It is believed that the AI sector will aim to promote the vision of ‘Make AI in India and Make AI Work for India’. Insights from the Budget session emphasised that the three centres of excellence will be developed at top educational institutions in the country. Leading market participants are expected to involve themselves in interdisciplinary research, along with creation of cutting edge applications and scalable problem solutions in…
(FE) As many as 47.8 crore Jan Dhan accounts have been opened so far, a scheme which was launched in 2014 as a national mission for financial inclusion. Finance Minister Nirmala Sitharaman on Wednesday said the National Rural Livelihood Mission has achieved remarkable success by mobilising rural women into 1 lakh SHGs (self help groups). She said that 47.8 crore JanDhan accounts have been opened. The Jan Dhan Yojana was announced by Prime Minister Narendra Modi in his Independence Day address in 2014, and it was launched on August 28 in the same year. Pradhan Mantri Jan Dhan Yojana (PMJDY) is the national…
(FE) Union Minister of Finance Nirmala Sitharaman while presenting Budget 2023 has proposed to increase the allocation made towards the Pradhan Mantri Awas Yojana by 66% to Rs 79,000 in the Union Budget 2023-24. Pradhan Mantri Awas Yojana – Urban (PMAY-U) was extended on August 17, 2022 up to December 2024 with all the verticals except Credit Link Subsidy (CLSS). CLSS for EWS and LIG were till March 31, 2022. During the extended period, no new houses were to be sanctioned. The additional outlay could be for completing the existing projects. “The outlay for the PMAY scheme has been increased from…