Page 637 - Economy & Policy News

Cloud conglomerate Cisco likely to pick Flex as manufacturing partner

The manufacturing process will begin in Flex India's manufacturing unit, which is located in Chennai's Oragadam Special Economic Zone (SEZ)

GST evasion of Rs 30,000 crore using stolen IDs across 16 states uncovered

The beneficiaries of several government schemes, including PM Kisan, were using the stolen identities to operate 4,000 shell companies and 16,000 fake GST registrations

PLI scheme for mobile production led to 20% value addition, says govt

Of the $101 billion electronics production in FY23, smartphones constituted $44 billion

UAE-India CEPA deal paying off on every economic front: UAE Min Al Zeyoudi

UAE-India CEPA is paying off on every economic front, with benefits of its integration far broader than just trade, Dr Thani Al Zeyoudi, the UAE Minister of State for Foreign Trade, said on Tuesday

Average spot airfares drop up to 33% in a week: Aviation ministry

Fares on the Mumbai-Delhi route (for travel on Wednesday), however, increased 29% to Rs 7,394 as compared to last week

India likely to witness net outflow of 6500 HNIs in 2023, says study

However, the report said despite the outflow, India's capacity to generate new millionaires and its projected wealth growth makes the situation less concerning

Sebi introduces framework for direct mutual fund investment platforms

Opens doors for monetisation of platforms facilitating commission free MF investment

Funding in Indian fintech down 40% in 2022, says IIFL Fintech report

The country has over 9,500 fintech companies operating in the country

PLI schemes help boost production, employment, exports: DPIIT Secretary

The production-linked incentive (PLI) schemes have led to an increase in production, employment generation, and exports of the country, a top government official said on Tuesday.

Bond auction: 11 states borrow Rs 22,500 crore; Maharashtra tops the list

The four state governments issued 10-year bonds to raise Rs 3,000 crore. Tamil Nadu raised Rs 2,000 crore, Haryana Rs 750 crore, Nagaland Rs 150 crore, and Goa Rs 100 crore

DGTR for continuation of anti-dumping duty on China steel wheels for 5 yrs

DGTR has recommended for continuation of anti-dumping duty on Chinese steel wheels for five more years with a view to guarding domestic players against cheap imports

Infrastructure AIFs in slow mode despite a govt push for new roads, ports

Commitments to such funds have grown significantly slower than overall AIF commitments

Refinancing risk to India Inc with debt in foreign currency, says Moody's

This would be owing to a combination of higher interest risk in the international financial market and a likely deterioration in their finances

Wifi penetration at 74% in Tier I and II cities, says CUTS study

The study comes at a time when the government is deliberating on whether to reserve the 6 GHz spectrum band solely for mobile internet like 5G or for Wi-Fi use

Last date to pay first installment of advance tax announced; check details

Taxpayers have until June 15 to pay 15 per cent of their estimated tax liability

Rs 64,000-crore renewable energy transmission projects on the anvil

The last largest tranche of power transmission projects offered to the private sector was in 2015 when eight projects totalling Rs 50,000 were tendered

Production boost: PLI schemes 'course correction' likely in some sectors

Progress sluggish in six of 14 sectors and are yet to receive incentives

Concerned departments may consider course correction for PLI scheme: DPIIT

Concerned departments where the production-linked incentive scheme is not picking up may consider some course correction in the plan, a top government official said on Tuesday

Disinflation process may be slow, protracted: RBI governor Shaktikanta Das

Das says India likely to remain among the fastest growing economies this year

Better chip supply fuels passenger vehicle production by 16%: Siam

India's two-wheeler exports down 21% in the month