The Union Government has disbursed around ₹1,645 crore in performance-linked incentives (PLI) for electronics manufacturers so far, as part of its efforts to bring in more of the electronics supply chain to India. The push for semiconductors, or integrated circuits, is far more pressing now, as these chips are found …
Read More »INDIA TO BUCK GLOBAL SLOWDOWN, MAINTAIN EXPANSION
Even as the global economy is set to slow down or even enter a recession in 2023 as financial markets worldwide face heightened uncertainty, the Indian economy is steadily gathering momentum, Reserve Bank of India (RBI). India had emerged from the pandemic years stronger than initially thought, they asserted. “Unlike …
Read More »I-T DEMANDS ON BLACK MONEY ABROAD CROSS ₹15,000 CRORE
The war against black money stashed abroad appears to have slowed down in the first nine months of FY23 compared with the previous two years, with just 59 assessment orders for tax demands totalling ₹2,098 crore being passed, Minister of State for Finance Pankaj Chaudhary’s reply in Parliament shows. In …
Read More »CAD TO NARROW, BOLSTER RUPEE AGAINST GLOBAL RISKS
GDP growth may have slowed to 4.4% in the third quarter (Q3) from 6.3% in Q2, but “growth has not gotten shallower” and the momentum has sustained through the course of 2022-23, the Finance Ministry asserted on Monday. Macroeconomic stability was likely to get a further boost this year as …
Read More »PM MITRA MEGA TEXTILE PARKS
The Prime Minister of India has informed that PM MITRA mega textile parks would be set up in some states which will boost the textiles sector in line with 5F (Farm to Fibre to Factory to Fashion to Foreign) vision. Ministry of Textiles78 Aim: The PM Mega Integrated Textile Regions and …
Read More »DOMESTIC SYSTEMATICALLY IMPORTANT BANKS
The failure of Silicon Valley Bank and Signature Bank in the US raises questions on the safety of depositors’ wealth everywhere but such failures are unlikely in the Indian system. What is the basis for the confidence in the resilience of Indian banks? Domestic banks have a different balance sheet structure. …
Read More »GOLDEN CITY GATE TOURISM AWARDS 2023
India Bags Golden & Silver Star at The International ‘Golden City Gate Tourism Awards 2023 at ITB, Berlin 2023. The Golden City Gate Tourism Multi-media Awards are given annually in various categories related to the Tourism and Hospitality sectors. The ‘Golden City Gate’ is a creative multi-media international competition for countries, cities, regions and hotels. The Golden City Gate is the creative and innovative expression of …
Read More »PROMOTING BORDER TOURISM
Last December, Chief of Defence Staff General Anil Chauhan spoke of the need “to repopulate vast unoccupied areas, located even far away from the last villages of the state towards the border” and emphasised the importance of promoting border tourism in such areas. The Government of India has made unprecedented …
Read More »MONEY LAUNDERING LAWS WILL NOW COVER CRYPTOCURRENCY TRADE
India’s money laundering laws will apply to trade in cryptocurrencies, the Finance Ministry said in a notification dated March 7. The exchange between virtual digital assets and fiat currencies, the exchange between one or more forms of virtual digital assets and the transfer of digital assets will be covered under …
Read More »HALLMARK UNIQUE IDENTIFICATION (HIUD) NUMBER
The sale of gold jewellery will not be allowed without a Hallmark Unique Identification (HUID) number. HUID number is a six-digit alphanumeric code. It is given to every piece of jewellery at the time of hallmarking. It is a unique identifier for each gold item. The jewellery is stamped with the unique number manually at the Assaying & Hallmarking centre. Features: …
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