Karnataka Governor Gehlot returns the Mineral Tax Bill, seeks clarification
The Karnataka Governor Thawar Chand Gehlot has returned the Mineral Tax Bill, according to news reports. The Governor cited queries raised by mining associations as the reason for his decision. Commenting on the development, Congress spokesperson, BL Shankar stated, “This Bill was introduced in the interest of the community. Both
Arya.ag secures $30 million debt from HSBC India, backed by GuarantCo
Grain commerce platform Arya.ag said on Thursday that it has secured $30 million in debt from HSBC India, backed by GuarantCo. Part of the Private Infrastructure Development Group, GuarantCo has provided two partial guarantees to HSBC India to extend ₹250 crore ($30 million) loan facility to Arya.ag. The proceeds of
EVs, hybrids impacting auto fuel sales in FY25
The rising popularity of electric vehicles (EVs) and hybrid vehicles is impacting India’s consumption of petrol and diesel, which accounts for more than 60 per cent of the refined products usage in the world’s third-largest crude oil consumer. Top management at the State-run Bharat Petroleum Corporation (BPCL), operating over 22,000
Top companies evince interest in ₹7,056 crore outer harbour project at Thoothukudi re-tender
Large companies like Adani Ports and Special Economic Zone, DP World, Jan De Nul, Vedanta Group, JM Baxi & DBGT were some of the major players who have evinced in the ₹7,056 crore outer harbour project at Thoothukudi for which a re-tender was issued in December. Meanwhile, the Viability Gap
India eyes ₹15,000 crore budget support for green steel mission in bold move towards low-carbon economy
India’s Steel Ministry is seeking a ₹15,000 crore policy – push for green steel in the upcoming budget. Officials told businessline, the corpus would look to include a PLI-type scheme whereby it pushes for incentivising low carbon emitting steelmaking, bring-in a mandatory procurement provision for such high-cost metal, among
Phase III of HSN code reporting in GSTR-1/1A to roll out from February
To ensure accuracy and consistency in GST compliance, GSTN has decided to implement phase III of mandatory HSN code reporting from next month. Experts say that this change will enable GSTN to compile more value-added reports concerning the use of inputs, input services, and their contribution to final production, besides
Air India Express to enhance NCR presence, commence ops from Hindon airport
Tata Group-promoted airline Air India Express plans to enhance its presence in the national capital region by commencing flight operations from Hindon airport on March 1, 2024, sources told businessline. The airline, sources said, will connect Hindon with Goa, Kolkata, and Bengaluru while also maintaining full-fledged operations at IGI Airport.
Digital economy to grow almost twice as fast as overall economy: MeitY, ETCFO
India’s digital economy is expected to grow almost twice as fast as the overall economy, contributing to nearly one-fifth of national income by 2029-30, the ministry of electronics and information technology said in a report. In under six years, the share of digital economy will be larger than that of
Sugar prices gain close to a tenth after exports allowed
The ex-factory sugar prices have moved up by close to a tenth after the government allowed exports of 1 million tonnes of the sweetener recently. At the same time, the global sugar prices have eased following India’s decision to allow the shipments. The ex-factory prices, which were ruling around ₹33-34
Akasa Air will add seven destinations in CY 2025
Mumbai : Akasa Air will add 5-7 destinations in 2025 as it expects an improvement in its aircraft deliveries. Akasa Air inducted 20 Boeing 737 Max aircraft in its first year of operations. Growth has slowed down since then with airline receiving four planes last year. The airline’s founder-CEO Vinay