City New Delhi Financial News

27.07 / 17:13

UPS Speed up common form for tax: Panel

New Delhi: Finance ministry should speed up process of introducing a common income tax return form which will make tax filing easier, Parliamentary Standing Committee on Finance led by Jayant Sinha said in a report tabled in Lok Sabha on Thursday. The panel, which has 31 members from both Houses, in addition to the chairperson, said it is expected proposed common tax return form, which was released for public consultation in November, would considerably ease filing of returns for individuals and non-business-type tax payers.

27.07 / 17:13

UPS Provident Waters film voice cover Jan Vishwas, offshore minerals bills passed

New Delhi: Government pushed through its busy legislative agenda for the monsoon session by introducing and clearing few more bills including the Jan Vishwas and Offshore Areas Mineral Amendment Bills on Thursday. The government initiated the legislative agenda amidst a din in both houses of Parliament which faced several adjournments during the day. Most of the bills were introduced or passed by voice vote without proper debate on its provisions.

27.07 / 17:13

COST Citi Aviat Airlines Interface Harmonic social AirAsia India gets green to fly under AI Express brand

New Delhi: AirAsia India on Thursday received approval from India’s civil aviation regulator, the Directorate General of Civil Aviation, to operate flights under the Air India Express brand, according to a company statement. On 25 July, Mint reported that AirAsia India had sought the DGCA’s nod to expedite the integration of the two airlines, including a rebranding from AirAsia India to Air India Express. With the regulatory approval in place, Air India Express and AIX Connect flights can now be marketed, distributed and operated under a common brand name, ‘Air India Express’, which paves way for the proposed legal merger of the two.

27.07 / 16:41

UPS Provident Lowe's Racing country India’s rice export curbs could prove too myopic for its good

Global food markets have been thrown into some chaos yet again —not only because of Russia’s decision to pull out of the Black Sea grain deal, but also India’s announcement that it would ban the export of many varieties of rice. The partial exit of the rice market’s largest trading nation, with about a 40% share of exports, has led to fears that food inflation will race out of control, particularly in countries of the Global South that are already struggling with very high debt levels and inflated food and fuel bills.

27.07 / 16:41

COST Target Digital Progressive Manufacturing Govt may offer PLI for chemicals, petrochem

NEW DELHI : The government will consider a production-linked incentive (PLI) scheme for the chemicals and petrochemicals sector as it strives to emerge as a manufacturing hub, Union finance minister Nirmala Sitharaman said on Thursday. “We are in favour of making India a manufacturing hub," Sitharaman said at the third edition of the Global Chemicals and Petrochemicals Manufacturing Hubs in India Summit organized by the Federation of Indian Chambers of Commerce and Industry (Ficci) in association with the ministry of chemicals and fertilizers . “We will be considering PLI for chemicals and petrochemicals," said the finance minister.

27.07 / 16:41

Action Assurant Southern country cover Kerala to get second Vande Bharat train soon, will operate on Kasaragod- Thiruvananthapuram route

Indian Railways will soon introduce one more Vande Bharat Express in Kerala , said BJP state president K Surendran. Surendran said an assurance in this regard has been received from Railway Minister Ashwini Vaishnaw today. The new Vande Bharat train will run from northern Kasaragod to southern Thiruvananthapuram, said Surendran after meeting Ashwini Vaishnaw in New Delhi.

27.07 / 16:41

Digital Amazon Google Platform Apple exclusive Panel urges govt to finalize digital competition bill

NEW DELHI : The parliamentary standing committee on finance, led by Jayant Sinha, on Thursday urged the Union government to finalise the digital competition bill at the earliest to check a slew of anti-competitive practices plaguing the digital markets. The committee in its report also said the Competition Commission of India (CCI) will need its entire workforce, and vacant positions to be filled, to ensure that the anti-trust regulator fulfils its statutory role.

27.07 / 14:41

Provident FIVE Aware Highways country India, ADB sign $295 million loan to upgrade state highways in Bihar

New Delhi: The Indian government and the Asian Development Bank (ADB) on Thursday signed an agreement for a $295-million loan to upgrade around 265 km of state highways with climate and disaster resilient design and road safety elements in Bihar, the ministry of finance said. The signatories to the agreement for enhancing connectivity and sustainability in Bihar Roads Project were Vumlunmang Vualnam, additional secretary, department of economic affairs, who signed on behalf of the Indian government, and Takeo Konishi, country director for ADB in India, who signed for ADB.

27.07 / 14:35

COST Provident Inside Costs Delhi HC imposes Rs 2 lakh costs on restaurant associations in case against service charge ban

Delhi High Court has imposed total costs of Rs 2 lakh on two restaurant bodies for failing to comply with an order passed in relation to their challenge to the guidelines prohibiting hotels and restaurants from automatically levying service charge on food bills. Justice Prathiba M Singh directed that the costs shall be paid to the Department of Consumer Affairs.

27.07 / 14:35

Waves show stage 2024 BJP planning to create disturbances in Bengal to defame state before 2024 polls: Mamata Banerjee

West Bengal Chief Minister Mamata Banerjee on Thursday alleged in the assembly that the opposition BJP was planning to create disturbances by creating division among the people to show the state in a bad light before next year's general elections. Speaking at the state assembly during a discussion, Banerjee claimed she has information that the BJP's planning was chalked out during a recent meeting held in New Delhi with senior leaders of the party's state unit. She claimed that the saffron party has also planned to fund «any party that can divide the votes of the Trinamool Congress».

27.07 / 14:21

UPS Speed up rolling out common tax return form: Parliamentary panel

New Delhi: The finance ministry should speed up the process of introducing a common income tax return form which will make tax filings easier, the Parliamentary Standing Committee on Finance led by Jayant Sinha said in a report tabled in Lok Sabha on Thursday. The panel, which has 31 members from both the Houses, in addition to the Chairperson, said that it is expected the proposed common tax return form, which was released for public consultation in November last year, would bring ease of return filing to individuals and non-business-type tax payers considerably.

27.07 / 14:21

Provident Target Digital Mobile boost recovery Nepal Rasta Bank’s FY24 monetary policy aims to boost recovery amid economic challenges: CareEdge

New Delhi: To support economic recovery, the Nepal Rasta Bank (NRB) has announced its monetary policy for the fiscal year 2023-24, focusing on controlling inflation, stabilizing interest rates, and ensuring credit demand. The policy comes amid the government’s prudent fiscal plan aimed at rationalizing expenditure and increasing domestic revenue mobilization.

27.07 / 14:21

Citi FIVE Metro Govt explores bus roof mounted air purification systems to tackle air pollution: Jitendra Singh

New Delhi: Union minister Jitendra Singh on Thursday said that the government is exploring the potential of bus roof mounted air purification systems (BRMAPS) to capture particulate matter in the highly polluted cities. In a written reply to a question in the Rajya Sabha, the minister said, the Central Pollution Control Board (CPCB), a statutory body under the ministry of environment, forest and climate change (MoEFCC) has installed pariyayantra filtration units on top of 30 buses to filter dust in Delhi-NCR.

27.07 / 14:21

Citi Provident Aviat Platform Airlines Interface exclusive AirAsia India gets nod to operate under Air India Express brand

New Delhi: AirAsia India has received approval from the Indian civil aviation regulator to operate its flights under the Air India Express brand, the airline said on ThursdaY. Mint had exclusively reported on 25 July that AirAsia India has sought approvals from the civil aviation regulator Directorate General of Civil Aviation to expedite the integration of the two airlines, including a rebranding from AirAsia India to Air India Express. The move will result in harmonisation of customer touch points, products, and services across both airlines.

27.07 / 13:33

UPS Lowe's FIVE Strategy country cover Chemical, petrochemical industry’s role imperative to lower carbon emission, says Bhupendra Yadav

New Delhi: The role of chemical and petrochemicals industry is imperative in government’s commitment to low carbon strategies, said union forest, environment and climate change minister Bhupender Yadav. The government’s long-term low emission development strategy to reach out net zero is multifaceted and includes timebound policies and programme for promotion of clean and renewable energy; enhancement of energy efficiency; development of less carbon-intensive and resilient urban centres, promotion of waste to wealth initiative; adoption of safe, smart and sustainable green transportation network; abetment of pollution and increasing the carbon sink by intensifying efforts of forest and tree cover increase.

27.07 / 12:45

Provident Centre UPSC, SSC extend exam centre options amid Manipur unrest

New Delhi: Union minister Jitendra Singh on Thursday said that the UPSC has allowed candidates who had opted for Imphal as a centre for exam, to change and appear in any of the centres, viz., Aizawl, Delhi, Dispur, Jorhat, Kohima, Kolkata and Shillong. In a written reply to a question in the Rajya Sabha, the minister informed that this option was provided in the the Civil Services (Preliminary) Examination, 2023 (held on 28 May 2023) and in the recruitment tests for accounts officer/ enforcement officer and assistant provident fund commissioner (APFC) in the employees provident fund organisation (EPFO) (held on 2 July 2023).

27.07 / 12:45

UPS FIVE Digital Progressive Manufacturing electronic India’s semiconductor industry lagged due to past govts’ lack of vision: Rajeev Chandrasekhar

New Delhi: Minister of state for skill development & entrepreneurship and electronics & IT Rajeev Chandrasekhar on Thursday said that India’s semiconductor industry lagged behind due to the lack of political vision and strategic clarity exhibited by previous governments. Addressing the media ahead of the SemiconIndia Conference, scheduled to commence on 28 July in Gandhinagar, the minister highlighted the progress made by the present government in reviving India’s electronics ecosystem and propelling it to become one of the fastest-growing electronics manufacturing nations worldwide.

27.07 / 12:04

UPS Provident Progressive COP Align country COP28 UNFCCC, COP28 UAE urge G20 nations to take lead in climate change mitigation

New Delhi: COP28 President-designate Sultan Al Jaber and United Nations Framework Convention on Climate Change (UNFCCC) executive secretary Simon Stiell on Thursday called upon G20 nations to take a greater leadership role in climate change mitigation and adaptation. With only 125 days to go, the leaders issued a joint statement on the sidelines of the G20 ministerial meeting in Chennai, calling on G20 nations to “lead the way" on delivering a positive outcome on mitigation at the COP28 climate conference this year.

27.07 / 12:03

Provident BLOCK Extreme COMPOSITE exclusive Explainer Mint Explainer: Govt proposes bigger role for private companies in mining

New Delhi: The union government is pushing through its legislative agenda in the monsoon session of Parliament. It introduced six bills and passed one in the Lok Sabha on Wednesday, and more are likely to be introduced in the coming days. One of the key bills facing Parliamentary scrutiny is the Mines and Minerals (Development and Regulation Amendment) Bill, 2023.

27.07 / 12:03

Digital performer country Ports expected to overcome headwinds with 4-5% volume growth in FY24: Ind-Ra

New Delhi: Despite challenges posed by economic slowdown in importing markets like the EU and the US, Indian ports are anticipated to achieve mid-single digit volume growth on an aggregate basis in the financial year 2023-24, according to India Ratings and Research (Ind-Ra). The resilience of Indian ports stems from enhanced operational efficiency, the government’s emphasis on developing downstream logistics infrastructure, and stability in freight rates, enabling them to offset potential lower volumes and achieve a 4%-5% year-on-year volume growth in FY24 (with a compound annual growth rate of 3.5% during FY15-FY23).

27.07 / 11:01

UPS Cooper Extreme country Global coal demand to remain at record levels in 2023: Report

New Delhi: Global coal consumption, which hit an all-time high in 2022, is expected to stay at those levels in 2023, driven by robust growth in Asia’s power generation and industrial sectors, despite declines in the United States and Europe, according to the latest market update from the International Energy Agency (IEA). In 2022, coal consumption surged 3.3% to a staggering 8.3 billion tonne, setting a new all-time record.

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