Category: Business

Business

Cabinet approves plan to set up 2 lakh farm, dairy-fishery cooperatives

February 15, 2023 admin

A primary agricultural cooperative credit society at Somarasampettai near Tiruchi. File | Photo Credit: The Hindu In order to strengthen the cooperative sector, the Union Cabinet on Wednesday approved setting up of new primary agricultural credit societies (PACS) and dairy-fishery cooperatives in uncovered villages and panchayats. Its implementation will be done over a period of five…

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What are lab-grown diamonds? – The Hindu

February 8, 2023 admin

This year’s Budget shines special attention on laboratory-grown diamonds, or LGDs. Finance Minister Nirmala Sitharaman said the sector has high employment potential. A number of schemes to promote their research and development in India have been announced. What are laboratory-grown diamonds? LGDs are manufactured in laboratories, as opposed to naturally-occurring diamonds. But the chemical composition…

Business

Budget and green growth: significant focus on government investment

February 7, 2023 admin

Arindam Guha As part of its 2022 Nationally Determined Contribution (NDC) goals, India has committed to a number of ambitious objectives such as reducing GDP emissions intensity by 45% from 2005 levels by 2030, increasing its renewables capacity to 500 GW by 2030 and achieving net zero status by 2070. Some of the key initiatives…

Business

Capital flows, commodity prices could still pose concerns, says Economic Affairs Secretary

February 5, 2023 admin

Amid global rate hikes, foreign fund flows are seeing an ‘uneasy equilibrium’ in recent months, Economic Affairs Secretary Ajay Seth said in an interview. Excerpts: How do you place the Budget in the context of global headwinds and insulating India from their worst effects? Three global factors are important for our economy. One, a significant…

Business

India’s Budget to sustain demand for corporates: Fitch Ratings

February 5, 2023 admin

Finance Minister Nirmala Sitharaman holding the Budget Papers on February 01, 2023. | Photo Credit: The Hindu The higher spending, tax cuts and supportive policies announced in India’s Budget for 2023-24 are expected to support sustained demand growth and improve the longer-term prospects for corporates, said Fitch Ratings. “We believe the tax cuts will boost…

Business

Explained | Is the government on track on fiscal deficit targets?

February 4, 2023 admin

Union Finance Minister Nirmala Sitharaman with Minister of State for Finance Pankaj Chaudhary addresses a press conference in Mumbai on February 4, 2023. | Photo Credit: PTI The story so far: In the Union Budget for 2023-24, Finance Minister Nirmala Sitharaman chose the path of relative fiscal prudence and projected a decline in fiscal deficit…

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Explained | Why have mangroves got a Budget push?

February 4, 2023 admin

Mangroves are salt-tolerant plant communities found in tropical and subtropical intertidal regions. File | Photo Credit: The Hindu The story so far: The Union Budget for 2023-24 announced an initiative for mangrove plantation along the coastline and on salt pan lands, under MISHTI (Mangrove Initiative for Shoreline Habitats & Tangible Incomes). How do mangroves help? Mangroves…

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What are scientists saying about the science budget? The Hindu asked five.

February 4, 2023 admin

Budgets offer a mixed bag of goodies – so it is with science that has seen both promising and indifferent budgets over the years. As they look at the half-full (or half-empty) tumbler, some see encouraging initiatives, while others crunch the numbers and reveal a disheartening percentage of the GDP allocated for science. Some top…

Business

Going green: The Hindu Editorial on Budget 2023’s and India’s net-zero commitment

February 3, 2023 admin

Finance Minister Nirmala Sitharaman’s latest Budget is noteworthy for the emphasis she has laid on the government’s commitment to move towards net-zero carbon emission by 2070. As an article presented at the World Economic Forum’s Annual Meeting in Davos last month notes, India holds the key to hitting global climate change targets given its sizeable…

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Union Budget proposes changes to Income Tax search and seizure provisions

February 3, 2023 admin

A salesman watches TV screens during the live telecast of Union Budget 2023 by Finance Minister Nirmala Sitharaman in Ahmedabad on Wednesday. | Photo Credit: VIJAY SONEJI The Union Budget 2023-24 has proposed certain changes to the Income Tax search and seizure provisions in view of the increased use of technology and digitisation in the…

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