Centre Financial News

Tamil Nadu, in collaboration with the World Economic Forum, hosted a public-private discussion on Tuesday which brought together over 20 business leaders to deliberate on establishing the 'India Centre for Advanced Manufacturing' in Chennai to support companies in their innovation, sustainability, and R&D endeavors. The discussion highlighted three key focus areas for the Centre — technology adoption and innovation, industry-academia engagement, and sustainable production. Participants from various sectors, including electronics, automobile, and general manufacturing, engaged in the dialogue alongside representatives from government bodies such as the MSME Department, TIDCO, and TNSDC. “Leapfrogging into the future of manufacturing using the principles of ‘Industry 4.0’ is crucial to achieving Chief Minister Stalin’s target of a $1 trillion economy in Tamil Nadu," T.R.B.

The five-year plan, which became operational from April 2022, may now be extended until March 2028 from the original deadline of March 2027, sources said. As many as 95 companies have been admitted to the scheme that looks to promote local manufacturing of new technology products such as electric vehicles (EV) through subsidies. However, none of these companies submitted any claims for the first year of the scheme ending March 2023 and, hence, there was no disbursement from the government. Subsequently, several participant companies requested the government to consider an extension of the scheme by a year, sources said.

Lifestyle International, the company that runs an eponymous department chain in India, grew 46% in the year to March 31, 2023 to '11,810 crore. According to financials sourced from Tofler, Lifestyle International reported a net profit of '700 crore in 2022-23, a 160% jump from the last financial year. Total expenses for the fiscal was at '10,877 crore. In comparison, Shoppers Stop reported '5,066 crore annual revenue and Aditya Birla Fashion and Retail reported '12,418 crore in revenue. Lifestyle International, part of Dubai-based Landmark Group, operates Lifestyle department store chain, value format Max, and home furnishing store Home Centre. Sales of organised retail segments grew 34% in FY22-23 compared to pre-pandemic (FY20), largely driven by quick service restaurants, sporting goods and electronics, a report by the Retailers Association of India (RAI) said. However, in the last few months, the growth rate has slowed down.

rice fortification programme before the scheduled target of March 2024, a top food ministry official said on Tuesday. Prime Minister Narendra Modi, in his Independence Day address in 2021, said the government aims to distribute fortified rice via the government schemes by 2024. Thereafter, a scheme for the distribution of fortified rice, containing prescribed micronutrients (Iron, Folic Acid, Vitamin B12) was launched in October 2021 in a phased manner in order to address the problem of anaemia in children and women. In April 2022, the Cabinet Committee on Economic Affairs (CCEA) approved the supply of fortified rice throughout the Public Distribution System (PDS), Integrated Child Development Services (ICDS), Pradhan Mantri Poshan Shakti Nirman-PM POSHAN (erstwhile Mid-Day Meal Scheme) and other welfare schemes in all states and Union Territories (UTs) by 2024 in a phased manner. The entire cost of rice fortification, which is around Rs 2,700 crore per annum, would be borne by the Centre as part of the food subsidy till its full implementation up to June 2024. «We had planned to complete the universalisation of fortified PDS rice by March 2024.

social media platforms and intermediaries will incorporate necessary rules and regulations to ensure the space occupied by them is free from vulgar language and profanities. The Ministry of Electronics & Information Technology (MeitY), in an affidavit showing compliance of the high court's earlier directions, said it has taken note of the concerns expressed by the high court in its earlier orders. The high court had earlier said framing rules and guidelines to regulate the content on social media and OTT platforms need urgent attention. It had underlined the need for taking seriously the use of vulgar language in public domain and on social media platforms which are open to children of tender age. «It is stated that it is a policy decision and having taken note of the concerns of this court expressed through its directions, the concerned Ministry (MeitY), while undertaking its regular exercise of policy making, will incorporate rules/regulations to regulate the social media platforms, intermediaries for making it safer from the use of vulgar language including profanity, bad words, etc., as per the judgment of this court,» Justice Swarna Kanta Sharma said in an order on August 17. Considering the submission of the ministry, the high court disposed of the matter, saying it is a sufficient compliance of its previous orders. «This court takes note of the fact that it is a policy decision which is to be undertaken by the Ministry and the legislature, it is sufficient compliance of the order of this court.

₹2,410 per quintal in Maharashtra and MP for buffer stock, said the Commerce and Consumer Affairs Minister Piyush Goyal on Tuesday. To curb the rising price of onion ahead of festive season, the vegetable is also sold at a subsidised rate of ₹25/kg for consumers in different regions, he added. The essential component of Indians' kitchen, onion, witnessed a sudden rise in price ahead of the festival season.

Coinbase and Circle have redefined their relationship, according to identical announcements on the Coinbaseand Circle blogs on Aug. 21. The two organizations jointly launched the USD Coin (USDC) stablecoin and have until now governed the token through the Centre Consortium.

Mishra, held a high-level meeting to review the global and national Covid-19 situation today, amid new variants in circulation. Even as the Covid-19 situation in the country remains stable and public health systems in the country remain geared up, Dr Mishra stressed on the need for states to monitor trends of ILI/SARI cases.

NEW DELHI : A central scheme for states introduced during the early days of the covid-19 outbreak to provide interest-free capital-expenditure (capex) loans will now come with strings attached as the government attempts to nudge states to implement specific reforms. Out of the ₹80,000 crore earmarked this fiscal for the ‘Special Assistance to States for Capital Investment’ scheme, ₹40,000 crore has already been disbursed without conditions; of the rest, ₹30,000 crore will be disbursed only if states can show progress on reforms or present specific project proposals, two people aware of the plan said on condition of anonymity.

Odisha to move goods from four industrial clusters to ports of Paradip and Dhamra. Under the proposed plan, the infrastructure component will be done by the government on an engineering, procurement and construction (EPC) model. «A special purpose vehicle between Coal India Limited (CIL), Inland Waterways Authority of India (IWAI), Paradip Port and the Odisha government will be developing the infrastructure required to operationalise the National Waterway 5 (NW5),» a senior government official told ET, noting that an in-principle approval to form the SPV has been taken by the respective company boards. «There is also a commitment from the state government to take up the project,» he added.

Indian government on Saturday announced that they would imposed 40% duty on export of onions, which is facing rising asking price within the country. On Sunday, Maharashtra's Ahmednagar district farmers halted the process of auctioning onions to protest Centre's decision. The onion growers of Rahuri tehsil of Ahmednagar district halted the ongoing auction of onion in the wholesale market.

National Disaster Response Fund as advance assistance to Himachal Pradesh to help the rain-battered state undertake relief measures for affected people. A spokesperson of the Union Home Ministry said the Centre had earlier approved the advance release of Rs 360.80 crore from the central share of the State Disaster Response Fund in two instalments on July 10 and 17.

leadership of N K Singh. It had kept the tax devolution ratio at 42 per cent -- at the same level suggested by the 14th Commission. The central government had accepted the report of the commission, and accordingly, the states were provided with 42 per cent of the divisible tax pool of the Centre during the period 2021-22 to 2025-26.

NEET. While speaking to ANI, Udhayanidhi said, "We stand with students. We have been asking for a ban on NEET for almost five to six years.

Chernihiv killed seven people and wounded more than 100 on Saturday, in what the UN called a «heinous» attack hours after President Vladimir Putin met Moscow's top army commanders. «It is heinous to attack the main square of a large city, in the morning, while people are out walking, some going to church to celebrate a religious day for many Ukrainians,» said Denise Brown, the UN's humanitarian coordinator for Ukraine. She was referring to the Orthodox holiday of the Transfiguration of the Lord which saw some in Chernihiv attending church services in the morning. «I condemn this repeated pattern of Russian strikes on populated areas of Ukraine… Attacks directed against civilians or civilian objects are strictly prohibited under international humanitarian law,» she added. Chernihiv, 150 kilometres (90 miles) north of Kyiv towards Belarus, has been largely spared from major attacks since the first months of Russia's invasion as fierce fighting rages in the east and south.

The duty is imposed with immediate effect and will be valid till December 31, 2023 or as per the next notification by the government. The move is expected to cool the retail inflation as vegetable prices sent consumer inflation soaring to a 15-month high in July, compared with 4.87% in the previous month, breaching the upper tolerance band of the Reserve Bank of India for the first time in FY24. The price hike was led by tomatoes which reached up to Rs 250 per kg in the retail market.

NLB Services recently conducted a survey of 1,500 GCCs in India. About 79% of the GCCs surveyed stated that they were looking to augment or add to their talent pool, and 8% said they were looking to double the workforce in 2023. This, according to their estimates, could create about 3.64 lakh jobs.

National Commission for Women. "Pass a writ of mandamus under Article 32 or any other direction in the nature of writ and exercise its powers under 142 to decriminalize the law of statutory rape as applied to all cases of voluntary consensual sexual contact between any 16 to <18 adolescent with another similar age adolescent and with >18 adults...," the plea said.

renewable energy has sought bids to survey sites identified for offshore wind power projects in Tamil Nadu. A notification released by the ministry showed that the government plans to bid out projects of 4GW capacity on 1 December. Further, in the next financial year, it plans to bid out projects with a total capacity of 3GW.

renewable energy (MNRE) has sought bids for survey of sites identified for offshore wind power projects in Tamil Nadu. A notification released by the ministry showed that the government plans to bid out projects of 4 GW capacity on 1 December, 2023. Further, in the next financial year, the government plans to bid projects with total capacity of 3 GW.

A mango and mandarin stall at Sydney’s Flemington Markets is at the centre of a scheme that falsified revenues, profits and invoices to steal more than $15 million from Westpac over five years, the bank alleges.