BUSINESS
Firefighting daily to stop EV adoption being derailed: Hero Electric CEO
"However, issues that hinder the pace of growth do crop up during the journey from intent to reality. Some of these issues are interposed by the policy-makers who are not fully aware of the ground realities, and some others are slipped into inconspicuously by the lobbies that are threatened by such disruptive policies," Gill emphasised.
Ather Energy to make 1 mn more 2-wheelers; eyes new EV factory
Ravneet Phokela, Chief Business Officer (CBO) at Ather Energy, told IANS that the company is ramping up manufacturing output and planning to add 10 lakh units capacity, in addition to the 400,000 annual capacity that it currently has. "To drive faster adoption of EV, we continue investing in public fast-charging networks. With around 1,000 chargers installed across the country, we already have the largest fast-charging network for two-wheelers in the country, and this number continues to grow," said Phokela.
Pre-budget rally seems likely after last week's moves
BSESENSEX gained 360.59 points or 0.60 per cent to close at 60,621.77 points while NIFTY gained 71.05 points or 0.40 per cent to close at 18,027.65 points. The broader indices saw BSE100, BSE200 and BSE500 gain 0.16 per cent, 0.13 per cent and 0.03 per cent. BSEMIDCAP and BSESMALLCAP both were down, losing 0.66 per cent and 0.79 per cent respectively.
Musk announces higher priced subscription for ad-free Twitter
Moreover, a Twitter user known as "The Rabbit Hole" commented on Musk's tweet, asking, "Can individual users opt to monetise accounts through ads? Currently, advertisers reach out individually to users; creating a solution integrated with the platform will let Twitter take a cut and give creators a pathway to monetising our content".
Railway Ministry sets in motion Rs 2-trillion budgetary push
In its first term, the Modi government at the Centre had linked the Rail Budget with the General Budget, under which the money for the Railways is now provided. According to the information, the Centre is going to increase the Railway Budget this time by up to 20 per cent.
India's smartphone shipments fall 6% in 2022, moderate growth in 2023
According to a Canalys report, Xiaomi was still the number one vendor for the full year. Samsung took the number one spot in the fourth quarter (Q4) for the first time since Q3 2017, shipping 6.7 million units for a market share of 21 per cent. The second place went to vivo, which shipped 6.4 million units, mainly via offline channels.
Insurers hope for tax concessions to underwrite industry's growth
Scrapping or slashing of Goods and Services Tax (GST) on insurance premiums, making pension/annuity proceeds tax-free, and creating a separate category for tax deduction for premium paid are some of the budget wishlist of Indian insurers. The industry players are also expecting the Indian government to introduce the Insurance Laws (Amendment) Bill 2022, which is also expected to lead to the industry's growth.
Realty sector seeks boost to affordable housing, tax and policy relief
Realtors said that with interest rates rising, a lot depends on the upcoming budget to support and sustain the housing demand. Manoj Gaur, President, CREDAI NCR and CMD Gaurs Group, said that real estate contributes 6-8 per cent to the GDP and employs more than 5 crore people. "It (real estate sector) has high hopes from the forthcoming budget. To begin with, there should be a separate deduction for principal repayment as currently clubbed under Section 80(C). It should be raised from the existing Rs 1,50,000 limit.
Union budget likely to continue capex hike to boost investment
With the Centre bullish on economic growth and buoyed by favourable comments by several global agencies like the World Bank and the International Monetary Fund, calling it a resilient economy, it is betting big on public capital expenditure to push the investment cycle and spur India's economic recovery in the post-pandemic period.
With govt set to keep driving growth of highways, ministry eyes more funds
Sources said that gross budgetary support in the range of Rs 2.20 lakh crore or more in the upcoming budget for capital and revenue expenditure in the Financial Year 2023-24 is quite likely. In the last budget (FY 2022-23) the Centre had earmarked nearly Rs 1.99 lakh crore as the Gross Budgetary Support (GBS) for the roads and highways ministry.
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