One of the worst legacies of the UPA government carried forward by the Modi government, the provision for Retrospective Tax, is finally set to be buried. The union finance ministry on Thursday informed the Lok Sabha that it is bringing an amendment to the Income Tax Act, 1961 to this effect. The move comes even as the … Read more
The state of Karnataka has attracted Foreign Direct Investments (FDIs) worth Rs 62,085 crore in the first quarter of FY 2022 which is 48% of the total such investments India received during this period. When India was battling to control the second wave of Covid 19, Karnataka has managed to attract huge foreign investments, hinting at the … Read more
The Reserve Bank of India (RBI) has assured investors that the RBL Bank is well capitalised and the financial position of the bank remains satisfactory. The statement from the central bank came after the share price fell nearly 25% on Monday morning early trade following the weekend action by the central bank. At 11:33 am, the stock was trading … Read more
Moving ahead with the vision of the Make in India programme, the Modi government has urged tech giant Apple Inc to generate annual production output worth around $50 billion in India over the next 5-6 years. The move comes after a high-level meeting top government officials held with senior representatives from Apple. The govt of India has … Read more
In the financial year 2022-23, Apple and Samsung are set to manufacture smartphones worth over $5 billion (almost Rs 37,000 crore) in India. The two behemoths are on track to outperform the government’s PLI Scheme objectives by more than 50%. IANS spoke with Pankaj Mohindroo, Chairman of the India Cellular and Electronics Association (ICEA). “The leading global … Read more
In the fiscal year 2021-22, India has recorded the largest annual Foreign Direct Investment (FDI) inflow of USD 83.57 billion. In 2014-2015, India received 45.15 billion USD in FDI, compared to the highest ever annual FDI inflow of USD 83.57 billion reported for the fiscal year 2021-22, surpassing the previous year’s FDI by USD 1.60 billion. Since … Read more
As India’s Prime Minister Narendra Damodardas Modi looks to secure a third term in 2024, most would agree that his strongest suits have been infrastructure push and last-mile delivery of welfare schemes. Now, PM Modi’s Bharatiya Janata Party (BJP) can add exchange rate management to the list. The Indian rupee (INR, ₹) held steady … Read more