Tag Archives: Business news

The push for lithium-ion batteries could make electric vehicles more affordable and drive manufacturing and sales of EVs.EV and battery manufacturers said the exemption of lithium-ion batteries, motors, controllers, and essential materials such as cobalt powder and zinc from the capital goods list will accelerate deeper backward integration by TN’s EV cos and encourage more sales of EVs as they …

The Budget slashed customs duty not just for big motorcycles with engines above 1,600cc, but even in case of smaller ones, offering relief to those buying imported Honda, Suzuki, Ducati and KTMs. The fully built units will now face 40% customs duty instead of 50% earlier. For 1,600cc motorcycles and above, customs duty was cut from 50% to 30% for …

NEW DELHI: The commerce, MSME and finance ministries will work together to identify various sectors that will require maximum capital support for technology upgradation, marketing, brand building, and accessing newer markets, to boost exports, commerce minister Piyush Goyal said Saturday. Govt has announced setting up an Export Promotion Mission with an outlay of Rs 2,250 crore.Goyal said the mission could …

In her eighth budget speech presented in Parliament, Union finance minister Nirmala Sitharaman positioned agriculture as “the first engine of growth”. She unveiled several initiatives aimed at boosting the sector, including the Prime Minister Dhan-Dhaanya Krishi Yojana, a scheme designed to target regions with low farm productivity. The plan, in partnership with states, aims to reach an estimated 10.7 million …

Finance minister Nirmala Sitharaman Saturday announced the govt’s plan to transform India Post into a large logistics organisation with 1.5 lakh rural post offices.In her Budget speech, Sitharaman said India Post’s rural post offices will emerge as a catalyst for the rural economy. “India Post with 1.5 lakh rural post offices, complemented by the India Post Payment Bank and a …

The Budget proposes an Urban Challenge Fund (UCF) of Rs 1 lakh crore to encourage states to think innovatively towards attaining sustainable urbanisation and redevelopment goals in existing cities.The grant is expected to infuse around Rs 4 lakh crore for infrastructure development, achieving saturation and implementing redevelopment projects.“This fund will finance up to 25% of the cost of bankable projects …

Positioning agriculture as the “first” engine of growth, the Budget proposes multiple schemes to boost farming, including a special programme in 100 low-productivity agricultural districts.Additionally, it proposes a six-year mission to make the country self-reliant in producing pulses, enhancing farmers’ well-being and overall rural prosperity.Govt has also proposed to increase the subsidised Kisan Credit Card (KCC) loan limit to Rs …

Finance minister Nirmala Sitharaman announced a significant increase in allocation for the education sector, focusing on last-mile broadband connectivity in rural schools that were worst hit by insufficient internet coverage during Covid. Infrastructure expansion for IITs, medical education and AI in learning were also among the Budget highlights.The digital push is expected to boost broadband connectivity at all govt secondary …

The Centre has estimated a realisation of Rs 47,000 crore from disinvestment and assessment monetisation in the 2025-26 Budget. It has moved away from setting a specific target from disinvestment of PSUs as the appetite for privatisation has moderated. The number is mentioned under miscellaneous capital receipts in Budget documents.Finance minister Nirmala Sitharaman also announced that the second plan of …

Already the world’s fastest-growing aviation market, India is set to witness a surge in air travel with a modified version of the ‘Ude Desh Ka Aam Naagrik’ (Udan) scheme. In her Budget speech, finance minister Nirmala Sitharaman said govt will expand regional connectivity to 120 new destinations with an aim to carry 4 crore passengers over the next decade. She …