Manufacturing Financial News

reforms to improve the domestic shipping industry and generate more jobs in the sector.

Narendra Modi has been in office since 2014, this is the 11th successive budget of his tenure. There will be signs of continuity, as well as critics who will say that one measure or the other should have come much earlier rather than now. While all this is well-taken, the fact is, every budget — even if part of a continuum — also has its individual context. This context is both political and economic.

GOING DOWN Imported cancer drugs trastuzumab deruxtecan, osimertinib, and durvalumab— customs duty cut to nil from 10%.

Prime Minister Narendra Modi on Tuesday said the budget promotes "inclusive growth", benefitting all segments of society, and will be a «catalyst» in making India the third-largest economy and a developed nation.

finance minister in India's history to present seven consecutive Union budgets, finance minister Nirmala Sitharaman had the momentous task of addressing multiple areas such as rural demand, infrastructure development, manufacturing, technology upgradation, among others, to build levers for sustainable growth for the Indian economy-underpinned by an overall focus on boosting consumption and spending.

budget, delivering a short-term demand stimulus as well as actions focused on medium- to long-term growth imperatives, while ensuring fiscal consolidation.

Apple's foldable iPhone has moved beyond the ideation phase. The company has reached out to Asian suppliers to manufacture components for the device, which is internally referred to by the code name V68.Foldable smartphones, enhanced with AI features, are anticipated to drive demand for Apple, which faces intense competition from Honor and Huawei in China, and from Samsung globally.

₹11.11 trillion. The multiplier effect of this will support demand for commodities such as steel and cement and is also in sync with India’s plan to improve its logistics efficiency. Second, emphasizing the vision for energy transition provides support to India’s journey towards non-fossil fuels, which will allow the country to decarbonise while it pursues faster growth.

Amit Shah on Tuesday said Budget 2024-25 will fuel the country's pace on the path of emerging as a developed nation by ushering in a new era of employment and opportunities. He also said the budget reflects Prime Minister Narendra Modi's «unwavering commitment» to driving economic growth by bolstering India's entrepreneurial power and ease of doing business.

electric vehicles will be supported under the four-month Electric Mobility Promotion Scheme (EMPS) being implemented between April and July with an outlay of Rs 493.55 crore, the government said on Tuesday. Electric Mobility Promotion Scheme (EMPS) — 2024 will provide further impetus to the green mobility and development of electric vehicle (EV) manufacturing ecosystem in the country. The maximum number of electric vehicles to be supported under the scheme stands at 3,72,215, including 3,33,387 electric two-wheelers, 13,590 e-rickshaws or e-carts and 25,238 electric three-wheelers in the L5 category, according to figures shared by the Ministry of Heavy Industries. «EMPS 2024 is fund limited, with restricted number of vehicles and a term-limited Scheme, i.e., the subsidies for demand incentive are eligible for e-2w and e-3w sold and registered until the funds are available or the number of vehicles supported reaches the maximum number defined category-wise (shown in para above) or until July 31, 2024, whichever comes first,» the ministry stated.

Union Budget 2024-25. Here is how the fund managers and mutual fund advisors decode the Budget announcement and what mutual fund investors should do.

₹15,000—from the government, which will also give a cash incentive to employers and employees for their contributions to India’s state-run provident fund (PF) scheme. Further, the PF contribution of employers will be reimbursed up to ₹3,000 per month over two years for each additional employee hired. Broadly speaking, this proposal seems modelled on the production-linked incentive (PLI) scheme run by the Centre for manufacturers.

jobs and empower youth with skilling, Finance Minister Nirmala Sitharaman announced a Rs 2 lakh crore package under the Prime Minister scheme to incentivise job creation in the country, skill two million youth, provide education loan of up to Rs 10 lakh for higher education in domestic institutions and enable internship opportunities to 10 million youth over next five years.

European planemaker Airbus plans to show off its newest passenger jet with daily flight demonstrations during one of the world’s biggest aviation trade fairs

Karnataka Government to amend a labour law to extend the working hours in the tech services companies by up to 14 hours, during exigencies, has come under resistance, putting the government on the backfoot.

Electric vehicles were a splurge purchase not long ago. Now they are among the biggest bargains on the dealership lot. Many electric models have never been cheaper, as automakers splurge on financing deals and cash incentives to sway consumers who might be hesitant to give up their gas guzzlers.

BigBloc Construction on Monday said its board has approved the issue of one bonus share for every equity share held by shareholders. The board of directors in its meeting on July 19 recommended the issue of bonus equity shares in the proportion of 1:1, that is, one bonus equity share for every existing equity share held by the company shareholders as on the record date, the company said in a filing. During the day, shares of the company soared to 7 per cent to hit Rs 284.90 apiece on the BSE.