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Delhi Metro Grey Line: The 1.2 km long Najafgarh-Dhansa Bus Stand section of the 4.2 km long Grey Line will benefit residents living in the urban village area of Najafgarh....
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Finance Minister Nirmala Sitharaman on Friday revealed that the GST Council decided to extend the concessional rates on drugs used in COVID-19 treatment till December 31, 2020 ... Nirmala Sitharaman addressed the media after an in-person conference of the GST CouncilNew Delhi: Financing Minister Nirmala Sitharaman on Friday revealed that the GST Council has actually chosen to extend the concessional rates on substance abuse in COVID-19 treatment till December 31, 2020. The previous deadline was September 30. On June 12, the GST Council, chaired by Ms Sitharaman had lowered the tax rates on most of the COVID-19 medicines and devices and announced that no tax will be levied on the medications for treating Black Fungus.The Revenue Department of the Finance Ministry had actually said that the GST rates are lowered for 18 Covid-related materials and concessional rates.The tax cut was based upon suggestions by a Group of Ministers in the middle of the pandemic, whose crippling impacts on the economy has likewise injured household finance, the GST Council - a constitutional body that decides rates for the GST - had said.The Council had actually chosen that no tax will be imposed on medications like the monoclonal antibody Tocilizumab and Amphotericin B, used for dealing with Black Fungus, a fungal illness that impacts individuals contaminated with Covid.B. Earlier, the GST rates on these medicines stood at 5 per cent.The Council had actually likewise cut rates on anti-coagulants such as heparin and Remdesivir - a drug for treating COVID-19, from 12 per cent to 5 per cent.Additionally, tax rates on gas, electrical, other heaters for the crematorium, including their installation were reduced from 18 percent to 5 per cent.The GST rates on ambulances were minimized from 28 per cent to 12 percent. The tax rates on hand sanitiser was decreased from 18 percent to 5 percent, while rates on temperature check devices was lowered from 18 percent to 5 per cent.Covid vaccines, however, continue to be charged a GST of 5 per cent. There were also no tax cuts on raw material for Covid testing kits.There were no changes in the GST rate of some products being charged at 18 percent, such as RT-PCR devices, RNA extraction devices and genome sequencing machines. Genome sequencing packages that are being charged at 12 percent will continued to be charged at the exact same rate.
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The new life and vital illness rebalance option supplies defense versus vital health problems and death by auto balancing life and the cover with age ...
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For the Agra-Kanpur metro task, Alstom scope of work consists of structure, design, and delivery of 201 city cars and trucks and an innovative signalling option ...
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Financing Minister Nirmala Sitharaman on Friday mentioned that the Goods and Provider Tax (GST) Council discussed the topic of inclusion of fuel and diesel under the tax structure after the Kerala High... The Council went over the subject of addition of gas and diesel within the GST ambit (Representational)New Delhi: Financing Minister Nirmala Sitharaman on Friday mentioned that the Item and Provider Tax (GST) Council went over the topic of addition of petrol and diesel under the tax structure after the Kerala High Court order. On the direction of court it was brought on to table however members spoke really plainly they do not want it to be included in GST, Ms Sitharaman said. This will be reported to the high court as the GST Council felt it was not the time to bring petroleum items under the GST, she added.In June, the Kerala High Court, based on a writ petition, had asked the GST Council to select bringing gas and diesel within the GST ambit.The minister also announced that the GST rate on bio-diesel for blending with diesel (used by oil marketing companies) has been reduced from 12% to 5%. The Council likewise extended concessional GST rates on substance abuse in COVID-19 treatment till December 31, the financing minister said.Ms Sitharaman mentioned that all pens will attract single GST rate of 18%. And, 12% GST will be applied to specified sustainable sector devices, she added.She even more stated that online food delivery apps like Zomato and Swiggy need to pay GST instead of the dining establishment they get orders from. Nevertheless, the Council pointed out that there's no new tax. Expect you buy food from aggregator and dining establishment is paying taxes. We discovered that some restaurants were not paying taxes. Now we are saying if you order via aggregator, the aggregator will gather tax from customer and pay to the authorities instead of the dining establishment doing this. There is no brand-new tax, Earnings Secreatry Tarun Bajaj said.This is the very first on-ground GST Council conference in nearly 20 months. The last meeting was kept in 2019, before the Covid pandemic.
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Abhay Bhutada was found guilty of sharing information about Adar Poonawalla-owned Rising Sun Holdings' proposed stake buy in the company before it was public knowledge....
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Kerala will be getting GST (Goods and Solutions Tax) settlement of over Rs 13,000 crore and another one-time grant of over Rs 19,000 crore in the current fiscal ending March 2022, he noted ... Kerala Financing Minister K N Balagopal pitched for extending the GST compensationKerala Financing Minister K N Balagopal on Saturday pitched for extending the GST compensation beyond June next year as he highlighted that the state is currently coming to grips with considerable profits shortfall.Addressing the media here, the minister stated the state is not getting its due in the wake of the 15th Financing Commission devolution recommendations.Kerala will be getting GST (Goods and Solutions Tax) settlement of over Rs 13,000 crore and another one-time grant of over Rs 19,000 crore in the existing fiscal ending March 2022, he noted.In case the GST settlement ends next year, then the state will deal with more profits shortfall, he stated and expressed hope that the settlement routine would be extended.The regime of paying settlement to states for profits deficiency arising from subsuming their taxes such as BARREL in the consistent nationwide tax GST will end in June next year.However, the cess which is presently levied on top of the GST rate on certain luxury and sin items to fund the payment quantity for states will continue to be levied till March 2026. The collections will be used to pay off the loanings that had to be done since 2020-21 to spend for state payment.
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The Item and Services Tax (GST) Council may go over on a proposal to treat online food shipment platforms like Swiggy and Zomato as restaurants and levy 5% of GST on their products ... Currently, food shipment apps are registered as Tax Collectedat Source (TCS). New Delhi: The Product and Services Tax (GST) Council might discuss on a proposal to deal with online food shipment platforms like Swiggy and Zomato as restaurants and levy 5% of GST on their supplies.Currently, these food shipment apps are signed up as Tax Gathered at Source (TCS) under the GST.A proposal to make the shipment platforms liable to pay the Product and Solutions Tax (GST) on restaurant services supplied through them is one of over four-dozen propositions that will be used up by the Council at its conference in Lucknow.If authorized by the Council, food shipment apps will need to collect and transfer GST with the government, in location of dining establishments, for shipments made by them.Analysis of returns submitted by delivery apps and the dining establishment services in Haryana showed space in taxable turnover for suppliers where TCS was deducted by a shipment app was greater than the turnover declared by such suppliers. This implied that there was a tax evasion.The evasion quantity could be significant as food delivery apps mainly have high supply volumes.Some of the other crucial proposals consist of shortage in GST compensation to states, extending decreased GST rates on essential Covid-19 medicines and discussion on bringing fuel and diesel under the GST.Sources said that the conference might talk about imposing GST on petroleum crude, high speed diesel, motor spirit (fuel), natural gas and aviation turbine fuel (ATF), according to sources.The Council might also go over on extending the GST rate decrease from 12% to 5% on essential medications needed for the treatment of Covid-19.
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Biocon Biologics will offer around 15 percent stake to SILS, at a valuation of $4.9 billion ... Biocon shares increased as much as 5.75 per cent to hit an intraday high of Rs 398.60. Shares of the Bengaluru-based Biocon rose as much as 5.75 per cent to strike an intraday high of Rs 398.60 on the BSE after the company said that its material subsidiary - Biocon Biologics (BBL) - has participated in a tactical alliance with Serum Institute Life Sciences (SILS), a wholly owned arm of Serum Institute of India. As per the alliance, board of Biocon Biologics authorized the merger of Covidshield Technologies, a wholly-owned subsidiary of SILS, with, and into BBL.As per the agreement, Biocon Biologics will offer roughly 15 per cent stake to SILS, at an appraisal of $4.9 billion, for which it will get access to 10 crore dosages of vaccines per annum for 15 years, primarily from Serum Institute Life Sciences' upcoming vaccine center in Pune with commercialization rights of the SILS vaccine portfolio (including COVID-19 vaccines) for international markets.Biocon Biologics partnered with U.S. based Adagio Therapies in July to make and commercialise COVID-19 antibody treatments for India and some emerging markets.In addition to vaccines, the strategic alliance will likewise establish antibodies targeting a number of infectious diseases like Dengue, HIV, and so on. The 2 companies will go into Service Level Agreements (SLAs) for manufacturing and circulation of the vaccines and antibodies. Biocon Biologics will likewise establish, at its expense, a vaccine R-D department to support the tactical alliance in establishing both vaccines and biologics for infectious illness. Additionally, wherever possible, it will offer its cell culture and sterilized fill and finish capacities, for vaccine production under the tactical alliance, Biocon stated in a press release.As of 10:41 am, Biocon shares traded 0.77 per cent higher at Rs 379.85.
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Average worldwide crude oil prices had fallen by more than $3 per barrel in August as compared to the previous month ... Gas in Delhi currently costs Rs 101.19 a litre and diesel is priced at Rs 88.62 per litreA surge in global oil prices might equate into an increase in the retail selling price of gas and diesel in India as oil business deal with severe margin squeeze, sources said.Petrol and diesel rates have stayed unchanged for 12 days today the global rate rise is applying pressure. Existing prices of gas and diesel in the international market are greater by around $4-6 per barrel as compared to average rates throughout August. However, no increase in retail prices has been affected by oil business so far, sources said.In case global costs remain at this level, oil marketing business (OMCs) will have to increase list prices of gas and diesel, they said. List prices of fuel and diesel were last increased on July 17 and July 15 respectively.Petrol in Delhi presently costs Rs 101.19 a litre and diesel is priced at Rs 88.62 per litre. Average international crude oil prices had actually fallen by more than $3 per barrel in August as compared to the previous month. This came versus the backdrop of blended economic data from the US and China and mobility restrictions in Asia fuelled by the fast-spreading Delta variant.Accordingly, retail rates of gas and diesel in the Delhi market were decreased by Rs 0.65 a litre and Rs 1.25 per litre by oil marketing companies from July 18 onwards. The last down revision was on September 5. With the latest advancements in the global market, unrefined oil rates have started to rise regularly given that the last week of August.The unrefined oil production interruptions in North America from a fire at Mexico's overseas platform and the disturbances triggered by Typhoon Ida on US Gulf Coast have activated a high rise in oil prices. Ida, the worst storm to strike the US Gulf Coast considering that hurricanes Katrina and Rita in 2005, might lead to a total crude supply loss of as much as 30 million barrels, as per IEA.Further, falling United States crude oil inventories and expectations of improvement in demand have actually also contributed to the current spurt in prices. OPEC in its month-to-month oil market report for September has actually maintained a growth projection of 6.0 million barrels each day in world oil need for 2021. As per OPEC, increasing vaccination rates and stable financial developments in significant economies are expected to support unrefined oil demand.For Q4 2021, world oil need is anticipated to increase by 1.24 million barrels per day from Q3 2021. For 2022, OPEC projects oil need to reach 100.8 mb/d, surpassing pre-pandemic levels. With even IEA reporting optimism over increasing vaccination rates and most likely improvement in demand outlook, international oil costs may remain firm in the near term, sources said.
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The Sensex fell as much as 866 points from record high and Cool touched an intraday low of 17,537.65. India VIX, the worry index rose over 7 per cent ... The S&P BSE Sensex and NSE Nifty 50 indexes snapped their three-day record-breaking streak as financiers scheduled profits in current exceeding state-run banking, metal, information technology, FMCG and pharma shares ahead of the weekend as volatility spiked. Earlier in the day, Sensex rose as much as 596 points to hit an intraday high of 59,737.32 and Nifty 50 index touched an all-time high of 17,792.95. The Sensex fell as much as 866 points from record high and Nifty touched an intraday low of 17,537.65. India VIX, the fear index rose over 7 per cent.The Sensex declined 125 points or 0.2 percent to close at 59,015.89 and Nifty 50 index fell 44 points or 0.25 per cent to end at 17,629. Bull momentum continued today and both benchmark indices touched fresh highs however financiers showed signs of anxiousness as the market witnessed a late bout of profit-taking towards the closing phases. Technically, benchmark Nifty preserved uptrend extension development which is broadly positive but due to momentary overbought circumstance, bulls may choose to take a cautious stance near the 17,800 resistance level, stated Shrikant Chouhan, head of equity research (Retail), Kotak Securities.Selling pressure was broad-based as 9 of 15 sector gauges assembled by the National Stock Exchange ended lower led by the Nifty PSU Bank index's almost 3 per cent decrease. Metal, Real Estate, Health Care, Pharma, Oil - & Gas, Information Technology and FMCG indices likewise fell between 0.5-2.4 per cent.On the other hand, Nifty Bank, Financial Services, Media and Private Bank indices ended higher.Mid- and small-cap shares saw intense selling as Nifty Midcap 100 index dropped 1.3 per cent and Nifty Smallcap 100 index fell 0.73 per cent.Among the specific shares, Bengaluru-based Biocon rose as much as 5.75 percent to strike an intraday high of Rs 398.60 on the BSE after the company said that its product subsidiary - Biocon Biologics (BBL) - has actually participated in a strategic alliance with Serum Institute Life Sciences (SILS), a completely owned arm of Serum Institute of India.Shares of Indian airline companies InterGlobe Air travel and SpiceJet rose on Friday after regulative data revealed that passenger development leapt 136.6 per cent last month as the government started to reduce COVID-related travel restrictions.Tata Steel was leading Nifty loser, the stock fell 3.76 percent to close at Rs 1,383. Coal India, State Bank of India, TCS, Hindalco, UPL, Reliance Industries, Sun Pharma, HDFC Life, Tata Motors, Hindustan Unilever, Dr Reddy's Labs, Asian Paints and Bharat Petroleum likewise fell between 1-3.5 per cent.On the flipside, Kotak Mahindra Bank, HDFC Bank, Bharti Airtel, Eicher Motors, Maruti Suzuki, Axis Bank, SBI Life, Nestle India, Bajaj Finserv and Bajaj Vehicle were amongst the gainers.The general market breadth was extremely unfavorable as 2,064 shares ended lower while 1,232 ended higher on the BSE.
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JSW Steel's sustainability-linked bonds (SLBs) concern consisted of two tranches of 5.5 years and 10.5 years, for an amount of $500 million each ...
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Aadhaar-PAN Linking Last Date Is March 31, 2022: The deadline for linking the two identification cards is extended by another six months to provide relief to taxpayers amid the pandemic...
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Domestic airlines brought 6.7 million travelers in August, compared with 2.8 million travelers in the year-ago duration, DGCA said ... Shares of Indian airline companies InterGlobe Aviation and SpiceJet surged on Friday after regulatory information revealed that traveler growth leapt 136.6 percent last month as the federal government began to relieve COVID-related travel restrictions.The government had actually stopped flight in March 2020 as the country entered into a lockdown to suppress the spread of the coronavirus. Domestic flights resumed in Might 2020, but air travel ever since has had some restrictions as the pandemic progressed.Domestic airline companies carried 6.7 million guests in August, compared with 2.8 million travelers in the year-ago duration, the Directorate General of Civil Aviation stated on Thursday.InterGlobe Aviation, which runs India's largest airline IndiGo, extended gains to a fourth session and scaled a record high of Rs 2,168.80 on Friday, while shares of SpiceJet rose to 7.9 percent to Rs 81.95, their highest level in two months.Passenger load factor, a measure of just how much of an airline company's passenger carrying capacity has actually been used, jumped 11.8 per cent for IndiGo and 6.7 percent for SpiceJet in August from previous month.IndiGo Ceo Ronojoy Dutta said in July that he expects capacity to return to pre-pandemic levels by the end of the year, however warned that a 3rd wave of infections could quickly interrupt things again.SpiceJet stock was down 20 per cent for the year, as of last close, while shares of InterGlobe have climbed up approximately 15 percent over the same period.
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Tesla and SpaceX boss Elon Musk and Twitter CEO Jack Dorsey have a long history of mutual appreciation that has just blossomed throughout the years ... The Twitter CEO just said crypto , recommending he chose the use over currency It's obvious that Tesla and SpaceX boss Elon Musk and Twitter CEO Jack Dorsey assistance cryptocurrency over the standard fiat cash. Their bromance is now more and more obvious on public platforms. Recently, they went over the future of Bitcoin at a virtual conference, praising its prospective to change the monetary systems. And now Mr Musk has actually replied to a cryptic one-word tweet by Dorsey. The Twitter CEO just stated crypto , perhaps suggesting he chose the use over more popular terms such as currency and money , and Mr Musk responded to it stating it was his safe word too.It seems both of them prefer to utilize the much shorter term crypto , instead of saying cryptocurrency. The 2 big tech executives have a long history of mutual appreciation which has actually only blossomed throughout the years. At an exhibition in 2016, Mr Dorsey publicly praised Mr Musk, saying he was constantly speaking about what his electrical vehicle-making business was doing. Mr Musk uses Twitter extensively.In January 2020, Mr Dorsey asked Mr Musk for feedback on how to enhance Twitter, and the Tesla CEO stated it would be useful to be able to tell phony and genuine users apart.Two months later, when a hedge fund activist with a stake in Twitter tried to oust Dorsey from his role as CEO of the microblogging website, Mr Musk concerned his defence.In July this year, they came together for a conversation on the future of bitcoin. Mr Musk has previously supported dogecoin following climate concerns over bitcoin mining's energy consumption. Mr Dorsey backs Bitcoin.However, Mr Musk of late has actually called down his criticism of bitcoin and likewise divulged that he owned some bitcoin, ethereum and dogecoin. Mr Dorsey has actually entered the cryptocurrency area with his payments company, Square, and has stated the bitcoin community's drive inspires him and reminds him of early days of the web.
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Petrol and Diesel Price Today in India: In the national capital, petrol prices were steady at Rs 101.19 per litre and diesel rates were constant at Rs 88.62 per litre...
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IRCTC shares have jumped a whopping 56 per cent after the stock split was announced on August 12....
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Gold, Silver Cost Today, 17 September 2021: On the Multi Commodity Exchange (MCX), gold futures due for an October 5 shipment, were last seen trading lower by Rs 7- or 0.02 percent - at Rs 46,069 ...
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Forex Reserves News: The country's forex reserves decreased by $1.34 billion to $641.113 billion in the week ended September 10, 2021 ...
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The Sensex fell as much as 646 points from record high and Nifty touched an intraday low of 17,587.80. India VIX, the fear index rose over 7 per cent....
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Sixteen of 19 sector gauges compiled by the BSE were trading higher led by the banking index's nearly 1 per cent gain....
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All you require to know to comprehend the distinction in between cryptocurrencies and traditional investing options ... When it comes to investment, people in India generally choose something where they can obtain optimum returns within a particular time frame and with minimum dangers included. Although there are a lot of conventional financial investment choices such as stocks and bonds, many Indians are slowly however certainly warming up to the idea of cryptocurrencies, a digital kind of currency that can be used to exchange value in the future. While the Reserve Bank of India had, in 2018, prohibited all controlled banks from holding or facilitating cryptocurrency deals following reports of digital currency frauds, the Supreme Court struck it down in March 2020. Following the reversal of the ban, Indians seem to be significantly taking a look at cryptocurrency as a practical investment alternative. How is it different from standard choices? Let's take a look.Cryptocurrency vs StocksLet's start by discussing the difference in between cryptocurrency and the stock market. Both cryptocurrency and stocks have their excellent and bad days. Stocks have a long history that makes it much easier for investors to predict the future. Stocks face various type of dangers including service and monetary, market volatility, federal government regulations among others. However, cryptocurrencies, on the other hand, are a decentralised structure. They don't have a federal government or a group of individuals controlling it.Cryptocurrency vs BondsBonds are a loan from an individual to a business or a federal government. In other words, when a financier buys bonds, the business or federal government from where the bonds have been bought is in debt to that person. The financier will get an interest on the quantity for a period of time after which the company or the federal government will pay back the whole amount. The major risk with bonds is that if the company goes bankrupt, the investor will stop getting interest payments and even the principal amount.Cryptocurrency vs ForexForex, also known as forex, typically draws in financiers investing in foreign currencies. Cryptocurrency is a globally accepted kind of currency and the investors who go with foreign exchange also deal globally. Here the catch is the different financial conditions of the nations. Financiers can anticipate favorable results from forex only when the economy of the country they are investing in remains in a good state. The capital gains for forex can be assessed only on the basis of the economy of the respective nation. This makes it riskier as compared to cryptocurrency.Cryptocurrency vs Precious MetalsWe understand in today's time, the main reason people consider precious metals to invest in, is to buy jewellery and other such products. So, the only value determiner of metals like gold and silver is the marketplace belief. Now, let's talk about the risks. The dangers involved with purchasing rare-earth elements include their mobility, import taxes and last, however not least, their need for tight security. Whereas, cryptocurrencies, on the other hand, do not require anyone to physically transfer them. Because it is all digital, it makes it relatively easier for the investor.Cryptocurrency vs Fixed DepositsFixed deposits are supported by the government. FDs are great when you have a long-term investment plan when you have to wait till maturity. Nevertheless, those who exit their FDs prior to they mature, might as well go ahead and invest in cryptocurrency. A minimum of, the market is unpredictable there and individuals can make quick decisions. People can exit when they understand the marketplace prices are decreasing while handling cryptocurrency. However having said that, no extra effort of mining is needed for FDs. Cryptocurrencies require to be mined. They need financiers' time and attention. Whereas, for FDs, you can forget it after investment till it gets mature.Although people are much comfy and familiar with the conventional financial investment strategies, cryptocurrencies are new and can have their own advantages and disadvantages. So, choose carefully.
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Recently, Ford took a $2 billion struck to stop making cars in India, following compatriots General Motors Co and Harley-Davidson Inc in closing factories in the country ... US carmaker Ford Motor closed down factory in IndiaWhen Ford Motor Co built its first factory in India in the mid-1990s, U.S. carmakers thought they were buying into a boom - the next China.The economy had actually been liberalised in 1991, the federal government was welcoming financiers, and the middle class was expected to fuel a consumption craze. Increasing non reusable earnings would help foreign carmakers to a market share of as much as 10 percent, forecasters said.It never happened.Last week, Ford took a $2 billion struck to stop making cars and trucks in India, following compatriots General Motors Co and Harley-Davidson Inc in closing factories in the country.Among foreigners that stay, Japan's Nissan Motor Co Ltd and even Germany's Volkswagen AG - the world's biggest automaker by sales - each hold less than one percent of a cars and truck market as soon as forecast to be the third-largest by 2020, after China and the United States, with annual sales of 5 million.Instead, sales have stagnated at about 3 million vehicles. The growth rate has actually slowed to 3.6 per cent in the last years versus 12 percent a decade earlier.Ford's retreat marks the end of an Indian dream for U.S. carmakers. It also follows its exit from Brazil revealed in January, showing an industry pivot from emerging markets to what is now widely seen as make-or-break financial investment in electric vehicles.Analysts and executives said immigrants terribly misjudged India's potential and ignored the complexities of operating in a large nation that rewards domestic procurement.Many failed to adapt to a choice for little, low-cost, fuel-efficient cars and trucks that might bump over uneven roads without requiring costly repairs. In India, 95 per cent of vehicles are priced below $20,000. Lower tax on little cars and trucks also made it harder for makers of larger cars and trucks for Western markets to take on small-car professionals such as Japan's Suzuki Motor Corp - controlling shareholder of Maruti Suzuki India Ltd, India's biggest carmaker by sales.Of foreign carmakers that invested alone in India over the previous 25 years, experts said just South Korea's Hyundai Motor Co stands apart as a success, generally due to its broad portfolio of little vehicles and a grasp of what Indian purchasers want. Companies invested on the fallacy that India would have fantastic prospective and the purchasing power of buyers would increase, however the government failed to produce that sort of environment and infrastructure, stated Ravi Bhatia, president for India at JATO Dynamics, a service provider of market information for the auto industry.Early MisstepSome of Ford's missteps can be traced to when it drove into India in the mid-1990s along with Hyundai. Whereas Hyundai got in with the small, budget-friendly Santro , Ford used the Escort saloon, very first launched in Europe in the 1960s. The Escort's rate stunned Indians utilized to Maruti Suzuki's more economical rates, stated former Ford India executive Vinay Piparsania.Ford's narrow product range also made it hard to capitalise on the appeal won by its very popular EcoSport and Endeavour sport energy cars (SUVs), said analyst Ammar Master at LMC.The carmaker stated it had thought about bringing more designs to India however identified it might refrain from doing so successfully. The struggle for many global brand names has constantly been meeting India's price point due to the fact that they brought global products that were developed for mature markets at a high-cost structure, said Master.A peculiarity of the Indian market was available in mid-2000 with a lower tax rate for vehicles determining less than 4 metres (13.12 feet) in length. That left Ford and rivals building India-specific sub-4 metre saloons for which sales eventually disappointed. U.S. makers with big truck DNAs struggled to produce an excellent and profitable little automobile. No one got the item rather best and losses piled up, said JATO's Bhatia.Rise and FallFord had excess capability at its first India plant when it invested $1 billion on a second in 2015. It had actually planned to make India an export base and raise its share of a market projected to hit 7 million cars and trucks a year by 2020 and 9 million by 2025. However the sales never followed and overall market growth stalled. Ford now utilises only about 20 percent of its combined annual capacity of 440,000 cars.To use its excess capability, Ford planned to develop compact cars and trucks in India for emerging markets however shelved strategies in 2016 amidst an international customer choice shift to SUVs.It altered its expense structure in 2018 and the list below year started work on a joint endeavor with local peer Mahindra - Mahindra Ltd developed to minimize costs. 3 years later on, in December, the partners abandoned the ideaAfter sinking $2.5 billion in India since entry and burning another $2 billion over the past years alone, Ford chose not to invest more. To continue investing ... we needed to show a path for a reasonable return on investment, Ford India head Anurag Mehrotra informed reporters last week. Regrettably, we are not able to do that.
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Hero MotoCorp: The rate hike will be up to Rs 3,000 across the range of motorcycles and scooters, but the exact quantum of increase will depend on the model and the market...
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The Insurance Coverage Regulatory and Advancement Authority of India (IRDAI) has actually extended the due date for insurer to issue new health insurance policies in electronic kind and without the... IRDAI stated that it chose to press the deadline in view of the continuing scenario of Covid-19. New Delhi: The Insurance Regulatory and Development Authority of India (IRDAI) has extended the due date for insurance provider to issue brand-new medical insurance policies in electronic kind and without the requirement of physically signed proposal form (damp signatures) till March 31, 2022. This is the not very first time that the insurance regulatory body chose to extend the deadline. In the first circumstances, the exemption for damp signature on an insurance plan stood till March 31, 2021. It was extended till September 30, 2021 in the middle of the second wave of Covid-19. IRDAI said that it chose to even more push the deadline till March next year in view of the continuing circumstance of Covid pandemic. In partial adjustment of Provision No. 5 of the within referred circular dated 10th September, 2020 the timelines for (a) Issuance of electronic policies and (b) doing without physical signatures and damp signature on the proposition kind in regard of health insurance policies, stand extended approximately March 31,2022, IRDAI mentioned in a notification on Tuesday. The regulator also shared comparable statement on Friday.Earlier, IRDAI had actually allowed health and general insurance companies to acquire approval of potential policy holders through a properly validated One Time Password (OTP), then doing without the practice of getting damp signature.The regulator had also excused the insurance companies from mandatorily sending out paper copy of the file to policy holders. The policies will have to be sent through electronic mode on the registered e-mail. Insurance providers, IRDAI stated, can obtain consumer's approval, without requiring wet signature on the hard copy, through OTP, through signed up email or mobile.
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The Union Cabinet on Monday approved Rs 30,600 crore government warranty for the National Possession Reconstruction Company or bad bank, paving the way for operationalisation of a bad bank ...
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Finance Minister Nirmala Sitharaman announced the development of a 'bad bank', with the federal government ensuring approximately Rs 30,600 crore for security invoices released by the National Property Reconstruction... Hero MotoCorp will hike costs of motorbikes and scooters up to Rs 3,000 from September 20The stock markets are most likely to open in the green, after hitting fresh lifetime highs in the previous session, passing favorable indications from SGX Nifty trading. Patterns on SGX Nifty show a positive opening for the Nifty, with a 89-points gain. At 7:30 am, the Nifty futures were trading at 17,694, higher by 89 points or 0.75 per cent, on the Singapore Stock Exchange.On Thursday, the BSE Sensex had rallied 417.96 indicate 59,141.16 and the Nifty jumped 110 indicate 17,629.50. Stocks to watch in trade in today's sessionBanking stocksFinance Minister Nirmala Sitharaman revealed the development of a 'bad bank', with the government guaranteeing up to Rs 30,600 crore for security invoices released by the National Property Reconstruction Company.Hero MotoCorpHero MotoCorp will trek its costs across a variety of bikes and scooters as much as Rs 3,000 with impact from September 20 to offset the impact of product inflation.BioconBiocon Biologics, a subsidiary of Biocon, will use around 15 percent stake to Serum Institute Life Sciences at a post-money valuation of about $4.9 billion.TVS Motor CompanyTVS Motor Company has actually taken a bulk stake in GO AG through its Singapore subsidiary TVS Motor (Singapore).
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The Goods and Provider Tax (GST) Council on Friday chose to extend settlement cess till March 2026 for repaying loans. In-depth financial declarations have actually been worked out, based on which we learn... Nirmala Sitharaman chaired the 45th GST Council meeting in Lucknow on Friday.New Delhi: The Product and Services Tax (GST) Council on Friday decided to extend settlement cess till March 2026 for repaying loans. In-depth monetary declarations have been exercised, based on which we find out that cess will need to be collected till March 2026, simply to repay loans taken between 2020-21 and 2021-22, Financing Minister Nirmala Sitharaman mentioned while instruction media on the outcome of 45th GST Council meeting.Compensation cess is given to the states to compensate for the profits losses due to GST application for a duration of 5 years from 2017. It was decided at 43rd GST Council meeting that cess needs to be gathered beyond July 2022 for the particular purpose of payment of loans taken. This cess collection has to go on till March 2026, based on the monetary declarations exercised now, the financing minister further said.The state governments have actually been requiring the Centre to address the pending issue referring to compensation cess as well as the pending settlement payment for last year. Some states have actually desired the payment duration to increase beyond 5 years but the Centre has stayed quiet on this key need made by them.The GST Council chose to establish a Group of Ministers (GoM) to take a look at the problem of correction of inverted responsibility structure for major sectors; justify the rates and review exemptions from the viewpoint of income augmentation, from GST.It likewise chose to set up a GoM to talk about methods and means of using innovation to further improve compliance including keeping track of through enhanced e-way costs systems, e-invoices, FASTag information and enhancing the institutional system for sharing of intelligence and collaborated enforcement actions by the Centre and the states. The expectations of the market on issues of rate rationalisation, correction of inverted task structure seem to have actually been prioritised by the Council in today's conference, with propositions to alter the rates for particular items and services. The proposition to extend the period for levy of payment cess till March 2026 does not come as a surprise to the industry, as it has actually been in conversations because last year, stated Shareen Gupta, Partner, J Sagar Associates.
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Punjab National Bank Shares Today: Punjab National Bank opened on the BSE at Rs 42.20, registering an intra day high of Rs 42.80 and an intra day low of Rs 39.35, so far....
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Foreign institutional investors bought shares worth Rs 1,622 crore on Thursday while domestic institutional investors offered shares worth Rs 795 crore ... SGX Nifty futures rose 84 points or 0.47 percent to 17,689. The Indian equity standards are set to open at fresh record highs on Friday as shown by the Clever futures traded on the Singapore Exchange. The Cool futures on Singapore Exchange also referred to as the SGX Nifty futures increased 84 points or 0.47 per cent to 17,689 amid blended trading in other Asian markets. Asian shares steadied in early trading on Friday after losses earlier in the week, but China jitters and worldwide growth issues weighed on financiers' minds, while the dollar sat near a three-week high.MSCI's broadest index of Asia-Pacific shares outside Japan recuperated from early losses to trade flat, but was still down 2.7 percent on the week.Hong Kong's Hang Seng Index rose 0.5 percent after posting its lowest close in 10 months the day previously, as the saga around China Evergrande Group stumbled towards a conclusion, upsetting investors.Overnight, global share markets edged lower worldwide on Thursday as issues about financial investments in China and a blended day on Wall Street surpassed favorable financial information in the United States.The 3 significant indexes spent much of the day in unfavorable area as increasing U.S. Treasury yields pressured market-leading tech stocks, and the rising dollar weighed on exporters.The Dow Jones Industrial Average fell 63.07 points, or 0.18 percent, the S&P 500 lost 6.95 points, or 0.16 percent, and the Nasdaq Composite added 20.40 points, or 0.13 per cent.Back house, foreign institutional financiers purchased shares worth Rs 1,622 crore on Thursday while domestic institutional financiers offered shares worth Rs 795 crore.Infosys, the country's second biggest infotech company, will remain in focus after the US-based Frost Bank selected it as a tactical partner to introduce new home loan item offering.Hero MotoCorp will be on financiers' radar after the business informed exchanges that it will increase ex-showroom costs of its motorbikes and scooters, with effect from September 20, 2021. The rate hike has actually been demanded to offset the impact of gradually increasing commodity rates, the world's largest two-wheeler maker stated.
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