Handset prices are unlikely to fall despite the government announcing concessions in customs duty on specific mobile phone components. Industry experts say the original equipment manufacturers (OEMs) will instead get a cushion to absorb the other high costs arising out of component shortages and supply chain issues. “The reduction in BCD (basic customs duty) on … Read more
As part of the Centre’s Budget 2022 push for agriculture, the Finance Minister has announced that farming along the Ganga river corridor will be promoted. These announcements were part of a wide ranging push based on four pillars – productivity, climate action, financing investments and the Gati Shakti plan In addition, Sitharaman also said that … Read more
Finance Minister Nirmala Sitharaman on Monday said new streamlined approval process for PPP projects and monetisation of core infra assets will be formulated, which will help fast-track asset monetisation by CPSEs. Announcing a set of economic relief measures, she said the current process was long and required multiple approvals for public private partnership (PPP) projects. … Read more
The cut in interest rates on small savings schemes of the government has been rolled back. “Interest rates of small savings schemes of GoI shall continue to be at the rates which existed in the last quarter of 2020-2021, ie, rates that prevailed as of March 2021,” the Finance ministry tweeted today morning. The order … Read more
A surge in the number of companies being dragged through insolvency proceedings after the suspension of the Insolvency and Bankruptcy Code (IBC) is lifted is unlikely, according to finance minister Nirmala Sitharman. Responding to a discussion on the IBC amendment bill in Lok Sabha, Sitharaman said stakeholders have other options for loan stress resolution and … Read more