The cost of imported high-end smartphones will come down by 5.0-5.5% if brands pass on the benefit of the reduced customs duty to consumers, experts said. India is estimated to import around $1 billion worth of high-end phones a year, with 98% of those coming from China. To be sure, the customs duty cut would not affect prices of locally made devices.
Many of the Republicans are opposed to Trump’s candidature. They have issues with the character of the former president and some policy related differences. Many of his former aides are also opposing his re-election bid.
The first budget of PM Narendra Modi's third term has focused on fiscal consolidation, and this should help build a strong foundation for the future and achieve the goal of building a Viksit Bharat. Capex spending and infrastructure creation are among the success stories of this government.
Nike is looking at saving lost face in recent months as there are reports of major goof-ups around sporting merchandise for various teams. However, they would be looking at some encouragement and appreciation at the upcoming Paris Olympics for their designs and fabric. Here's an insight into Nike's recent troubles
Prime Minister Modi praises budget for promoting inclusive growth and job creation. Emphasizes welfare measures for various segments of society. Budget aims to boost manufacturing, exports, defense sector, and tourism. Tax reforms to benefit taxpayers with relief and simplification.
India has revamped customs duties to support domestic manufacturing and align with global value chains. Changes include adjustments for mobile phones, electronics, precious metals, critical minerals, and more. The aim is to promote local value addition and boost export competitiveness.
Commerce minister highlights the benefits of reducing customs duty on gold and easing FDI norms. Removal of angel tax to support startups. Plans to promote rupee in overseas investments. Emphasis on manufacturing and employment incentives. Ministry to recommend duty rationalization in the coming months.
Finance Minister Nirmala Sitharaman presented seven consecutive Union budgets, focusing on rural demand, infrastructure development, manufacturing, and technology upgradation to boost sustainable growth in the Indian economy. The budget aims to seed resilience in agriculture, job creation, manufacturing, energy, sustainable HRD, innovation, infrastructure development, and tax reforms.
India imports 800-850 tonnes of gold and 4,000-4,500 tonnes of silver annually. Lower prices of silver will help industries such as the solar energy sector which uses the metal to make photovoltaic cells. Silver is also used in manufacturing electric vehicles as it has high electrical conductivity. Duty on platinum, usage of which is rising among millennials, has also been cut to 6.4% from 15% in the budget.
The glaring omission of Telangana from the budget speech is not an oversight but a calculated snub. None of our rightful dues - ITIR project, Hyderabad Metro expansion, leather and textile parks, IIMs, electronic manufacturing clusters, Musi Riverfront Development, Hyderabad Regional Ring Road, etc. - have been considered.
Finance Minister Nirmala Sitharaman reaffirmed the central government's strategy to reduce the fiscal deficit to 4.5% of GDP by FY26 through fiscal consolidation. Following a pandemic-induced debt surge to 89% of GDP in FY21, it has now decreased to 81%. Starting from 2026-27, the focus will shift to reducing the debt-to-GDP ratio annually. Finance Secretary TV Somanathan highlighted the importance of managing public debt. Madan Sabnavis from Bank of Baroda emphasized state compliance with FRBM norms... Читать дальше...
The Indian government is proposing a 1% tax collected at source (TCS) on luxury products like watches, handbags, and high-end televisions priced over ₹10 lakh. This move is aimed at tracking high-value expenses and widening the tax net. Retailers and market experts believe the tax will not impact sales, as luxury is booming in the country.
The budget presents a pragmatic and solution-oriented approach, balancing social spending and capital expenditure while managing fiscal deficit. Key measures address job creation, MSME support, technology integration, and fiscal consolidation targets. The focus on employability and human capital is highlighted for future growth.
Over the weekend, Jennifer Lopez celebrated her 55th birthday with family and friends. She relished a themed gathering and a special meal. Ben Affleck, her spouse, was not present, and their status as a couple is still unknown.
The finance minister introduced several measures in the budget to support students and small businesses, including interest subvention on education loans, increased Mudra loan limit, and credit support for MSMEs. These initiatives aim to boost access to finance and stimulate economic growth.
A soldier was killed in a gunfight as the Army prevented terrorists from infiltrating along the Line of Control in Poonch district.
Hurricane forecast for the month of August is not positive as situation may become conducive for formation of a tropical storm.
Nirmala Sitharaman’s budget strategy ensures India's stability and growth through robust fiscal foundations. The government balances public investment, social welfare, and fiscal deficit reduction, setting the FY25 target at 4.9% of GDP with a goal below 4.5% by FY26. Lower deficits enhance credibility and attract investment. Infrastructure capital expenditure boosts growth and revenues, with state governments receiving support. Reforms target renewable energy, skill development, and digital infrastructure for competitiveness.
Finance minister Nirmala Sitharaman announced the 'Purvodaya' plan targeting Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh for infrastructure, human resource development, and economic opportunities. The initiative aims to make the eastern region a growth engine for 'Viksit Bharat', leveraging its cultural endowments and emphasizing BJP's electoral focus. Specific details remain pending.
FM Nirmala Sitharaman announced ₹1.5 lakh crore 50-year interest-free loans for states collaborating on reforms. The Special Assistance outlay increased by ₹20,000 crore. States must reduce stamp duties, property duties for women, and engage in key land, labor reforms, including rural land administration, to enable durable asset creation through zero-interest loans.
The budget addresses TDP demands with ₹15,000 crore loans for Amaravati, Polavaram funding, and grants for Rayalaseema, Prakasam, and North Coastal Andhra. Finance Minister clarified loan terms, mentioned multi-lateral assistance, and noted essential infrastructure for industrial corridors. Chandrababu Naidu pushed for these commitments from the Andhra Pradesh Reorganisation Act to secure crucial NDA support.
The Indian budget has introduced five schemes to encourage industry growth and job creation. The first scheme will provide one month's wages to new appointees in all formal sectors, with up to Rs 15,000 through direct benefit transfer. The second scheme will provide incentives directly to employees and employers linked to Provident Fund contributions in the first four years.
The finance minister's latest budget focuses on job creation, tax simplification, and economic growth. Key measures include training 10 million youth, tax rationalisation, and changes in capital gains tax. The budget aims to boost the economy and create a more skilled workforce.
The term 'reform', derived from Latin 'reformare', gained prominence during the Protestant Reformation and applies broadly today. GoI's budget proposes transformative reforms, including digitizing land records, issuing ULPINs, and addressing state-specific challenges, supported by a 50-year interest-free loan. Rural reforms involve ULPINs, cadastral maps, and ownership surveys to enhance agricultural services, while urban reforms focus on GIS mapping and IT-based tax administration to improve urban financial health. Читать дальше...
The 2023-24 budget allocates ₹2,19,643 crore to the Union home ministry, an increase from ₹2,02,869 crore. It includes ₹1,43,275 crore for central armed police forces like CRPF, BSF, and CISF, ₹1,309 crore for Census, ₹5,105 crore for the Vibrant Village Programme, and ₹3,720.13 crore for border infrastructure, women's safety, and police modernization.