Sidhartha
Article
Cheaper crude gives room for excise duty hike, fuel price cut
Sep 24, 2024The drop in oil prices offers the Indian government an opportunity to raise excise duty, partly absorbing fuel retailers' profits. This could result in moderate reductions in petrol and diesel prices, helping curb inflation. The government must decide whether to enhance fiscal revenues or pass savings on to consumers.
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Subhadra first govt scheme to offer digital rupee payment
Sep 18, 2024Subhadra Yojana in Odisha provides women with Rs 10,000 annually in Central Bank Digital Currency (CBDC). Launched by PM Narendra Modi, the scheme ensures direct deposits into beneficiaries' bank accounts without intermediaries. Linked to RBI's digital currency pilot, the digital rupee can be spent using UPI QR codes or transferred to bank accounts.
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Goyal suggests new township for startups as India's answer to Silicon Valley
Sep 16, 2024Commerce and industry minister Piyush Goyal proposed developing a new township dedicated to startups, aiming to create an ecosystem for entrepreneurs and innovators. Partnering with NICDC, he envisions this area as India's own Silicon Valley. Goyal also announced setting up a non-profit entity to consolidate startup initiatives under one roof.
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Exporters fret over dip in credit as costs soar
Sep 9, 2024Over the past two years, credit to exporters has decreased by 5%, despite economic growth. Priority sector lending for exports has fallen by 41%, leading the commerce department to engage with RBI and the finance ministry. Exporters face significant challenges due to high logistics costs and credit expenses, necessitating additional funding support.
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Rivals need to invest in EV tech: Ola CEO
Sep 9, 2024Ola Electric's CEO Bhavish Aggarwal emphasizes his company's lead in the electric two-wheeler sector, urging competitors to invest in technology and cease traditional scooter production. He notes Ola's profitability and infrastructure readiness, with plans for expanding dealerships, launching motorbikes, and potentially entering the three-wheeler market by leveraging existing driver relationships.
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Ministers panel on GST reviews rates of several categories
Aug 27, 2024The GoM on GST rate rationalisation deferred reworking slabs but reviewed rates in the 12% and 18% categories. Focus areas include health insurance, restaurants, and some food products. Despite strong lobbying, no changes were made to the 28% levy on online gaming. Further rate changes are expected after discussions at the GST Council meeting on Sept 9.