Budget 2018-19

  A new voluntary vehicle scrapping policy, to phase out old and unfit vehicles, is to be announced, to encourage fuel-efficient, environment-friendly vehicles New impetus for the manufacturing sector Production-linked incentive schemes to create manufacturing global champions have been announced for 13 sectors. Rs 1.97 trillion over a five-year period starting FY22 has been allocated for these sectors, to enable manufacturers to develop scale and become an integral part of global supply chains. A voluntary vehicle scrapping policy soon A new voluntary vehicle scrapping policy, to phase out old and unfit vehicles, is to be announced, to encourage fuel-efficient, environment-friendly vehicles. Vehicles will undergo fitness tests in automated fitness centres after 20 years in the case of personal vehicles, and after 15 years in the case of commercial vehicles. New development finance institution to be created A new development finance institution (DFI) is to be created to provide lon...

  In the Budget for 2021-22, finance minister Nirmala Sitharaman introduced higher import duty rates on over a dozen handset and automobile components. To give a push to its Atmanirbhar Bharat policy, the Centre on Monday unveiled a revised Customs duty structure that will effectively increase duties on a wide range of items. The upward revision in rates, effective from Tuesday itself, are intended to curb import of auto components and agri produce. In sectors like electronics, they may lead to further price hikes in the coming months. In the  Budget 202 1  , finance minister Nirmala Sitharaman introduced higher import duty rates on over a dozen handset and automobile components. Key electronic components like printed circuit board assembly, camera module and connectors will now attract 2.5 per cent duty. In the automobile sector, Customs duty rates for dozens of items, like safety glasses, parts of the signalling equipment, brakes and ignition wire sets have been raised ...

  Five of the eight high-frequency indicators compiled by Bloomberg News gained last month, while two were unchanged and one deteriorated India’s economy showed signs of stabilizing in August with manufacturing and services gradually improving even as coronavirus cases escalated across the country. Five of the eight high-frequency indicators compiled by Bloomberg News gained last month, while two were unchanged and one deteriorated. That kept the needle on a dial measuring so-called animal spirits steady at 4 — a level arrived at by using the three-month weighted average to smooth out volatility in the single-month readings. A strong rebound is still a far way off though as a surge in virus cases continues to disrupt activity and has led many economists to downgrade their growth forecasts for the year. Business Activity Activity in India’s dominant services sector continued to pick up, with the main index rising to 41.8 in August from 34.2 in July. While that’s a marked improvement...