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NEW DELHI : India plans to announce an extension to Prime Minister Narendra Modi's flagship federal housing scheme in next month's budget and an increase in available subsidies for low-cost housing loans, three sources said, ahead of elections this year. Finance Minister Nirmala Sitharaman, who will present an interim budget on February 1, is likely to raise allocations for low-cost housing by more than 15% to ₹1 trillion ($12 billion) for 2024/25 from ₹79,000 crore in the 2023/24 budget, two of the government sources said.

NEW DELHI : India is taking a tough stand on non-tariff barriers being imposed on Indian exports by other countries and would also take similar measures on a reciprocal basis, Commerce and Industry Minister Piyush Goyal said on Tuesday. He asked the industry to share a list of such measures so that India can flag them with the respective nations. Many of India's exports suffer due to such barriers which include cumbersome prior registration requirements, higher pesticide levels, and unreasonable domestic standards/rules in many countries.

NEW DELHI : Brokerage house ICICI Securities on Tuesday reported a 66 per cent year-on-year jump in Profit After Tax (PAT) to ₹465.7 crore in three months ended December 2023. In comparison, the company had posted a PAT of ₹280.9 crore in the October-December quarter of the preceding fiscal (FY23), ICICI Securities, a part of ICICI Group, said in a regulatory filing.

Mahindra & Mahindra has told the government there must be a level playing field between domestic and foreign players and local manufacturing must be promoted, a top executive said, as New Delhi seeks to lure carmakers such as Tesla. Mahindra and Tata Motors have pressed Indian officials privately not to lower import taxes of 100% on electric vehicles and protect domestic firms and their foreign investors as the government reviews Tesla's plans to enter the market, Reuters reported last month. Asked about Tesla's entry and New Delhi's planned policy to lower import taxes, Mahindra Managing Director Anish Shah said his company had made representations to Indian officials saying global EV makers must be nudged to invest in India. «It should be a level playing field and investing in India is important,» Shah told Reuters in an interview at the World Economic Forum annual meeting, without referring to Tesla by name. «Our approach is essentially to create a stronger industry in India, and not to be in a situation where manufacturing is done outside India, and India just becomes an importer of products,» he added. India sold 4 million cars last year and just 82,000 of those were EVs, but the nascent segment clocked sales growth of 115% versus the previous year. Mahindra has raised around $400 million from Singapore's Temasek and British International Investment, while private equity firm TPG and Abu Dhabi state holding company ADQ invested $1 billion in 2021 in Tata. Shah said Mahindra has plans to list its EV unit, but not before 2029 «because we need to be able to show significant success in that business.» «For us, electric is the future,» he said. Tesla has proposed setting up an Indian factory but also demanded

India Today. ALSO READ: Justin Trudeau sees ‘shift’ in Canada-India ties after Pannun murder allegations: ‘Attacks aren’t going to…' Apart from this, several photos pro-Khalistani graffiti reportedly painted across New Delhi threatening to 'avenge' the death of Khalistani terrorist Hardeep Singh Nijjar surfaced on social media. Earlier on June 2023, Nijjar was killed outside a Gurdwara in Canada's Surrey. According to details, Pannun has been actively exhorting gangsters and young people over social media to stand for Khalistan.

₹8.3 lakh per year can afford luxury cars, a quick pace of upward mobility spells optimism over big-ticket purchases ahead. If Mercedes logged sales in 2023 that amount to 87% of its annual capacity of 20,000 units, as reported, it would need to scale up local assembly soon. Where EV models figure in its new roll-out mix may depend on the carmaker’s supply outlook.

NEW DELHI : New Delhi and Tehran discussed the spate of Houthi attacks on shipping vessels in the Red Sea during external affairs minister S. Jaishankar’s visit to Iran, said India’s foreign ministry. “As you are all aware, recently there has also been a perceptible increase in threats to the safety of maritime commercial traffic in this important part of the Indian Ocean.

26 January and like every year a magnificent parade will be organised on the occasion. French President Emmanuel Macron is the chief guest of the Republic Day 2024 parade during which various states will showcase their culture through a tableau.

Every budget poses a dilemma for the government. If Hamlet’s question was “to do or not to do," the one before every elected administration is how far it should throw caution to the winds on populism. Should it take the ‘apres moi le deluge’ (after me the deluge) approach of Louis XV of France, spend its way to popularity and election victory? Or should it take a long-term view and do what is eventually best for the country? Economists call this the ‘time inconsistency’ problem.

NEW DELHI : The Centre may allocate around ₹800-1,000 crore as subsidy on the sale of natural gas under the administered price mechanism (APM) in North-eastern states for FY25, said two people in the know of the development. The ministry of petroleum and natural gas is likely to propose to the finance ministry to allocate the amount in the upcoming Union budget. The allocation which will be made under the head of “other subsidy payable including for North Eastern Region", if approved, would lower than ₹1,633.02 crore outlay announced in the previous budget (for FY24).

NEW DELHI : India is considering reforming the lines of credit (LoCs) it grants to other countries to improve its economic diplomacy, persons aware of the matter told Mint. Proposed reforms include granting project-specific and fixed-period LoCs rather than generalized lines spanning several projects, the persons said, requesting anonymity. These proposed reforms, which come after requests from the borrower nations, will help reduce the interest burden on these countries, one of the persons added. So far, India has extended over 300 lines of credit to 65 countries with an estimated value of $30 billion.

Myanmar is losing grip over certain parts of the resource-rich country that borders India, which has led to a rethink in New Delhi on ways to readjust its approach in dealing with the neighbour that is critical in many ways. The Indian establishment is understood to be mulling various options, including opening channels of communication with various ethnic groups that are inhabitants of Myanmar's states bordering northeast India amid cross-border migration into Mizoram and Manipur. While New Delhi will continue to deal with the junta as the federal power in Nay Pyi Taw, experts on Myanmar affairs are of the opinion that New Delhi needs to adjust its policy to open channels of communication with ethnic groups that have bigger say in the states of Myanmar bordering India. States of Chin, Rakhine and Kachin and the Sagaing division of Myanmar border India. Stability along the India-Myanmar border is imperative for prosperity of India's northeastern states.

NEW DELHI : The downfall of Byju’s, once a $22 billion giant and India’s leading edtech startup, has sent ripples across the tech industry, triggering caution among venture capital (VC) and private equity (PE) funds. This has let to a persistently challenging market, Jeff Maggioncalda, chief executive officer of US-based edtech firm Coursera, said in an interview with Mint. “How the Byju’s crash affected the overall edtech industry depends on the stage each company is at, and where in edtech it caters to. Edtech in India and China are not looking good these days.

NEW DELHI : The Maldives has asked India to withdraw its troops stationed in the country by 15 March, said Abdulla Nazim Ibrahim, a top aide to President Mohamed Muizzu, at a press conference on Sunday. “Indian military personnel cannot stay in the Maldives. This is the policy of President Dr.

₹25 crore and revenue of a little over ₹1,000 crore in FY23. In 2014, Italian group Lavazza Spa sold Barista to New Delhi-based Carnation Hospitality for ₹100 crore after failing to turn the group around. Coffee Day slid into bankruptcy in 2023.

NEW DELHI : Open market sales have proven to be an effective tool for moderating rice and wheat prices, said union consumer affairs, food and public distribution minister Piyush Goyal, adding that the Food Corporation of India (FCI) should emerge as a trusted partner of farmers and the public. “The FCI’s market interventions or open market sale scheme (OMSS) has proved to be an effective tool in moderating the prices of essential commodities like wheat and rice to benefit consumers.

NEW DELHI : Automobile shipments from India declined 21% last year as many overseas markets continued to face monetary and geopolitical crises, as per the latest Society of Indian Automobile Manufacturers (SIAM) data. Overall exports stood at 42,85,809 units last year compared to 52,04,966 units in 2022. Passenger vehicle shipments rose 5% to 6,77,956 units last year from 6,44,842 units in 2022.

NEW DELHI : Leaders from across the world will congregate in the picturesque Swiss town for the 54th annual meeting of the World Economic Forum (WEF) against a backdrop of rising geopolitical tensions, high inflation and tepid global growth. Mint explains the agenda this year: “Rebuilding Trust" is the theme, to resurrect globalization after global supply chains were disrupted due to the pandemic and the wars in Ukraine and Gaza. With other problems such as climate change, business leaders are expected to brainstorm on long-term solutions and the role of cutting edge technologies such as artificial intelligence (AI).

SunOnline newspaper. Ibrahim Khaleel, the Minister at the President's Office for Strategic Communications, told SunOnline newspaper that both the countries had agreed to set up a high-level core group during the meeting between President Muizzu and Prime Minister Narendra Modi on the sidelines of the COP28 in Dubai in December. Khaleel said besides the withdrawal of Indian military personnel, the group also discussed expediting India-backed development projects in the island nation.

In Delhi, the transition from traditional kothis to luxury condominiums is driven by a blend of modern amenities, enhanced community living, and the convenience these developments offer. This shift aligns with the changing lifestyle preferences of the city’s residents, who now prioritize efficiency, security, and access to shared facilities. The allure of condominiums lies in their ability to offer a self-contained living experience, reflecting a significant change in urban real estate preferences.

tablets after evaluating the import data, which it is monitoring, an official said. In October last year, India put in place an import management system under which importers of these products have to seek authorisation from the government. The system is aimed at monitoring shipments of laptops, tablets and computers into the country without hurting market supply or creating a cumbersome licensing regime.