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The Economic Times
The Economic Times Musk, Ambani on a drive? Tesla likely seeks JV with Reliance for Indian EV manufacturing
Reliance-Tesla: Tesla is making strides towards entering the Indian automobile market, with talks of a potential joint venture with Mukesh Ambani's Reliance Industries to establish a manufacturing facility. The move aligns with India's push for electric vehicles, with attractive land proposals from states like Maharashtra and Gujarat.
The Economic Times Next-level tax & GST reforms, Rs 1 lakh cr to make India a global innovation hub: New govt's economic agenda for 100 days
The cabinet secretary has convened a meeting on Friday with officials from key economic ministries to outline the economic agenda for the initial 100 days of the incoming government following the general election. Discussions may encompass streamlining the goods and services tax (GST) rate structure, amendments to the Insolvency and Bankruptcy Code (IBC), and immediate economic challenges.
The Economic Times Hurun: In a 1st, India sees dip in startup unicorn numbers
After accounting for dropouts, the US increased its unicorn tally to 703, China to 340. India figures at number three. In case of Australia, Sweden, and UAE, number of unicorns declined by one each.
The Economic Times USISPF appoints ex-revenue secy Tarun Bajaj as chair of US-India Tax Forum
A 1988-batch Haryana Cadre IAS officer, Bajaj served as Revenue Secretary. During his tenure with the Indian government, he played a pivotal role in shaping fiscal policies and promoting economic growth.
The Economic Times Government appoints Manoj Panda as 16th Finance Commission member
The appointment of Panda came after Artha Global Executive Director Niranjan Rajadhyaksha expressed his inability to join the Commission. Rajadhyaksha was named a full-time member on January 31, but later in February he expressed his inability to join as a member citing personal reasons.
The Economic Times RBI launches survey of manufacturing companies
RBI conducts quarterly OBICUS survey since 2008, gathering production details, order data, and inventory levels confidentially. This data aids in monetary policy formulation. The next policy meeting is set for June 2024. The information collected in the survey includes quantitative data on new orders received during the reference quarter, backlog of orders at the beginning of the quarter, and pending orders at the end of the quarter.
The Economic Times Paytm Payments Bank CEO Surinder Chawla resigns
India's Paytm informed the exchanges that Surinder Chawla had resigned as the chief executive officer of its banking unit Paytm Payments Bank "on account of personal reasons". This comes almost a month after the entity stopped basic banking services under instructions from the Reserve Bank of India.
The Economic Times India plans to raise steel production capacity three-fold by 2047
India aims to triple its domestic steel production capacity to 500 million tonnes per year by 2047 while reducing emission intensity to 2.25 tonnes of CO2 per tonne of crude steel production by fiscal year 2029, with further reductions targeted by 2047. These targets surpass the goals outlined in India's Nationally Determined Contributions (NDCs) for the steel sector.
The Economic Times Sensex at 1,50,000 by 2029: The ultimate compounding machine
Looking back, the story of the Sensex is the story of India in a sense. In 1979, India was virtually a basket case in the global scheme of things, with a GDP of barely $130 billion. In fact, in 1990, the country went nearly bankrupt with forex reserves dwindling to a few months of our imports. Then came the IMF bailout package, and India has not looked back since.
The Economic Times RIL to lead massive Rs 1 lakh crore investment in green hydrogen, ammonia units at Kandla
Reliance Industries Ltd (RIL), Larsen and Toubro (L&T), Greenko Group, and Welspun New Energy are planning to establish green hydrogen and green ammonia units at Gujarat’s Deendayal Port Authority (DPA) in Kandla, according to informed sources. The project, estimated to attract investments up to Rs 1 lakh crore, marks one of the largest investments in India's energy infrastructure.
The Economic Times 5% GST benefit should only be for smaller EVs; don't extend it to bigger cars: Skoda Volkswagen India
If the said benefit is extended to all EVs -- including bigger and expensive ones -- it will put the exchequer and govt finances under pressure, the report quoted Petr Janeba, the brand director for Skoda in India, as saying.
The Economic Times India Inc earnings likely to be tepid in Q4
According to estimates, the net profits for the Nifty 50 companies are projected to rise by 4% year-on-year and 7% quarter-on-quarter.
The Economic Times Mahindra Finance CFO targets portfolio diversification to reduce reliance on vehicle financing
Mahindra Finance is actively diversifying its portfolio to lessen dependence on vehicle financing, as emphasized by CFO Vivek Karve. The CFO highlights prioritizing growth, profitability, and asset quality.
The Economic Times Climate change poses challenges for monetary policy, says RBI report
Global average temperatures are on a rise, with accompanying increase in extreme weather events (EWE), and the economic and social impact of global warming is becoming increasingly evident, said RBI's Monetary Policy Report - April 2024.
The Economic Times Central & state GST officials to conduct joint audits of firms
As per industry estimates, there are about 11,000 such cases of dual investigation by both the central and state authorities or under litigation. Several central GST zonal heads have sent an internal communique to officials, asking them to invite state officials to join their ongoing audits for better coordination, said officials.
