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Budget 2024: 'More FAME, Less GST' - What the EV industry wants from FM Sitharaman
Industry players are looking forward to potential GST concessions and incentives for electric vehicles in the upcoming Budget FY25. Expectations include policies like FAME 3.0 to enhance the EV ecosystem, promote R&D, and support local manufacturing for sustainable transportation in India.
PM GatiShakti platform may adopt AI to boost India’s economic development
The Indian government, under PM Narendra Modi's leadership, is planning to integrate artificial intelligence (AI) into the PM GatiShakti platform to accelerate infrastructure development. Named PMGS 2.0, this AI-enhanced system aims to predict economic trends and assess infrastructure needs across different scenarios. Already central to over 170 projects worth Rs 13.5 lakh crores, PM GatiShakti uses digital technology to enhance connectivity and efficiency. With logistics as a key focus, the initiative aims to reduce costs and boost economic and social development through integrated planning and technology adoption.
Budget 2024 may propel a key element of the Modi govt's Panchamrit goals
The Indian government has been prioritizing sustainability through clean energy for over half a decade to ensure economic growth. The Green Hydrogen economy, an integral part of the development factors, is a key focus in the country's energy sector. The Modi 3.0 budget could introduce new financial incentives, subsidies, and infrastructure investments to bolster this nascent industry.
PMAY-U 2.0 to build 1 crore houses in urban areas will be launched soon, says ministry officials
The Union Cabinet of Modi 3.0 government, in its first meeting held on June 10 under the chairmanship of Prime Minister Narendra Modi, approved government assistance for the construction of three crore houses under the PMAY.
Why the slogan ‘Jai Jawan’ has lost its sheen
NDA allies have joined the chorus against the Agniveer scheme, which came into force without parliamentary debate or discussion. Will the government finally sit up and take notice?
Right intentions but lacked focus on implementation: Sunita Narain on Modi 2.0's environmental record
In its second term, the Modi government focused on several initiatives, including scaling up renewable energy, improving forest cover, combating desertification, reducing air pollution, conserving wetlands, providing potable piped drinking water to all households, and eradicating single-use plastics.
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Latest interest rates of PPF, Sukanya Samriddhi Yojana, Senior Citizen Saving Scheme, NSC, other post office schemes
Latest small savings schemes interest rates: The government has left the interest rates on small savings schemes for the quarter ending June 30, 2024. Latest interest rates of PPF, Sukanya Samriddhi Yojana, Senior Citizen Saving Scheme, NSC, and other post office schemes.
Countdown for first 100 days of Modi 3.0 begins. What should stock investors do?
Countdown for the first 100 days of Modi 3.0 has stock market investors debating over the continuation of winners from Modi 2.0, with Sensex performance in focus.
The same old Modi govt: Portfolios indicate policy continuity
The allocation has changed only slightly with key portfolios remaining with the Modi 2.0 ministers. The allocation also indicates the Modi government might not be as susceptible to pressure from allies as many expect.
Modi 3.0: FMCG companies can cheer the new coalition government
In a symbolic move, Prime Minister Narendra Modi's first action after being sworn in for a third term was releasing the 17th PM-KISAN installment, providing financial relief to 9.3 crore farmers. With a weaker mandate, the government is expected to focus on rural welfare, potentially boosting FMCG sector growth and consumption.
Modi 3.0: NDA govt to hold its first cabinet meeting today; here are the key expectations
The first meeting of the third Narendra Modi cabinet is set for today at 5 pm at the Prime Minister's residence on Lok Kalyan Marg. Newly inducted ministers will attend the meeting, where the government is expected to approve the construction of 2 crore additional houses under the Pradhan Mantri Awaas Yojana-Gramin (PMAY-G) and increase assistance to beneficiaries. The portfolios of the cabinet ministers are also expected to be announced soon.
Modi 3.0: Growth sequel starring jobs, investment
The full budget, likely to be presented early in July, will detail specific measures toward this end. "The focus would be to promote labour-intensive growth that will create jobs, with continued emphasis on macroeconomic stability," a top government official aware of the details told ET. A host of measures on startups and taxation - including inverted duty structure correction, along with GST rate rationalisation - is under discussion, said the person cited above.
Economists expect big-bang reforms to continue under Modi 3.0
Modi is set to be sworn in for third term as India's Prime Minister in coalition government with key partners Telugu Desam Party and Janata Dal (United). Economists anticipate focus on economic reforms to achieve goal of Vikshit Bharat by 2047. Budget to prioritize infrastructure, manufacturing, and welfare schemes amid global economic challenges.
Real estate sector pushes for tax rationalisation and reduced approval cost as Modi 3.0 set to take oath
With Narendra Modi set to take oath as Prime Minister for the third time, the real estate industry has high expectations from Modi 3.0. The interim budget announced a boost for affordable housing by adding 2 crore more houses to the PMAY-U scheme. Experts emphasize the need for policy reorientation, cost reductions, and tax rationalization to accelerate growth. Industry leaders stress the need for government intervention to drive further growth, including reforms in GST and revisiting affordable housing definitions.
As Modi 3.0 begins, where the economy stands, where it's headed
Narendra Modi is set to begin his third term as PM with a full-strength NDA team, amidst optimism for India's economic future. RBI Governor Shantikanta Das highlighted the country's robust economic growth, strong manufacturing sector, recovering rural demand, and promising investment activity. India's external sector remains resilient, with positive growth prospects ahead.
SIP, STP or lumpsum? How to invest as Dalal Street recovers from election shocker
Post-election market recovery raises concerns for mutual fund investors on choosing between lumpsum or SIP/STP investments for better returns. Bankbazaar.com CEO Adhil Shetty advises considering market conditions, risk appetite and financial goals for investment decisions in mutual funds.
India VIX cools off 30% to sub-20 levels as market gets back lost ground
India VIX fell below 20 on Wednesday amidst election outcome favoring NDA with a comfortable majority. Modi 2.0 government held its last cabinet meeting amid positive market sentiments.
Will an empowered Modi bring back a big-bang reform?
If exit polls are accurate and Prime Minister Narendra Modi returns to power with a strong majority, major economic reforms are expected. This might include revisiting land acquisition laws to facilitate industrial growth. Land reforms are crucial for India's manufacturing ambitions. Digitisation of land records could streamline processes and accelerate development projects.
View: Your first 100 days to-do list, Gov
The upcoming government will have its work cut out for it as it steps into power following the conclusion of the 18th Lok Sabha polls. While the current administration has made strides in improving the business environment in India, there are key reforms that the new government must prioritize to fully capitalize on the country's growth potential.
UPI growth 2.0: Efforts on to crack DBT code
UPI user base has been hovering around 300 million for some time; RBI, banks are trying to push up this number.
17 cos to start production this year under IT hardware PLI 2.0
The Indian government is expecting most manufacturers qualified under the revised production-linked incentive (PLI) scheme for IT hardware to start production this year, according to the electronics and information technology ministry secretary S Krishnan. About 17 out of 27 PLI companies will start production, with six-seven starting last year and two planning to start next year.
Markets & Mandate: How would you prepare your portfolio for Modi 3.0?
Nilesh Shah discusses India's economic trajectory, comparing it to the US and China. Shah says: "The template should be what the United States has done over 50 or 100 years rather than what China has done over the last 10 or 20 years." He highlights the importance of consumer, digital, and physical economy sectors for the next 5 to 10 years, emphasizing India's positive market outlook post-COVID.
Mega Networks plans to make AI servers in Maharashtra
Mega Networks is one of two Indian firms chosen for the production-linked incentive (PLI) scheme 2.0 for IT hardware. Under this, the government gives an incentive of around 5% on net incremental sales of goods manufactured in India.
Could Modi 3.0 be strikingly different from Modi 2.0? Swaminathan Aiyar explains
Swaminathan Aiyar says in the case of Modi 3.0, the emphasis is on more of the same. "The thing is not to be different." The aim of the exercise is saying "I am guaranteeing you that I have done so well for you." Aiyar further says the BJP is so confident that it does not think it has to compete in freebies.
Torrent Power bags 306 MW solar project worth Rs 1,540 cr
West Bengal can save Rs 62,000 crore over a decade by transitioning from thermal power to renewable energy sources, according to a study by Climate Risk Horizons. Torrent Power has secured a contract from Maharashtra State Electricity Distribution Co Ltd for setting up 306 MW solar projects worth Rs 1,540 crore under the PM-KUSUM Scheme.
SJVN bags 1,352 MW solar projects worth Rs 7,436 cr
SJVN Chairman and Managing Director Geeta Kapur informed that these projects of 1,352 MW will be developed at various locations in Maharashtra -- Nashik, Solapur, Ahmednagar and Pune under Mukhya Mantri Saur Krushi Vahini Yojana 2.0.
PLI Scheme has benefited 176 MSMEs & created 7 lakh jobs, says government’s economy review
The review stated that under the PLI Scheme, which saw an outlay of Rs 1.97 lakh crore, approved 746 applications till the end of December 2023.
SpiceJet gets over Rs 900 cr funding; to focus on fleet upgradation, cost cutting measures
SpiceJet plans to focus on fleet upgradation and cost-cutting measures with the recent funding of over Rs 900 crore. The airline's bank balance now exceeds Rs 900 crore, including Rs 160 crore received from the government's Emergency Credit Line Guarantee Scheme. Chairman Ajay Singh has infused funds into the carrier, contributing Rs 200 crore out of the announced Rs 500 crore fund infusion.
Govt working on PLI 2.0 for steel sector in 2024; industry players await steps to curb steel imports
Union Minister Faggan Singh Kulaste said the government is working towards PLI scheme 2.0 and securing raw material supply for the steel sector in 2024. Despite a resilient steel industry recovery, concerns linger over escalating imports and raw material costs amid global uncertainties.
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