(ET) Uttar Pradesh Chief Minister Yogi Adityanath on Friday said that the state has attracted investments proposals worth Rs 32.92 lakh crores through the roadshows for the Global Investors Summit 2023 and is ready to play the role of the growth engine of the country in line with the Prime Minister’s vision and by imbibing his mantra of ‘Reform, Perform Transform’. Speaking at the inaugural ceremony of the summit, the UP CM described it as the “Mahakumbh’ of investment and said that the investments, which will take place through 18645 MoUs signed between the government and the companies in diverse…
Author: Aruna Sharma
(BS) After a record budgetary allocation, the ministry of railways has plans to acquire new rolling stock worth over Rs 1.87 trillion in the upcoming financial year, according to the national transporter’s annual rolling stock programme for 2023-24 (FY24). This plan includes 300 Vande Metro trains, 1000 eight-coach Vande Bharat trains, 35 hydrogen trains, and locomotives for freight augmentation in FY24. While big-ticket items are expected to be brought out at a slower pace, the railways expect production of big-ticket items like Vande Metros and Hydrogen Trains to be set in motion in FY24. Between financial outgo for tenders, awarded contracts, and these new assets, the…
(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.
(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…