The GoM in January 2019 decided to approve the levy of 1 per cent...
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NPS assets under management to touch Rs 15 lakh cr by fiscal end: PFRDA Chairman
(L to R)- Rama Mohan Rao Amara, MD of State Bank of India; Deepak...
GST Council exempts tax on insurers’ contributions to Motor Vehicle Accident Fund, defers any decisions on life and health covers
No decision was taken with regard to reduction in GST on insurance...
Air passenger volumes remain weak in contrast to robust cargo demand: AAPA
More than a year into the pandemic, strict border restrictions and quarantine measures continue to have a devastating impact on international air travel, said Subhas Menon, AAPA Director General.
“By contrast, air cargo remains the single bright spot for the region’s airlines, with strong external demand boosting cargo revenue. However, this remains largely insufficient in mitigating the drastic fall in passenger volumes.” Menon said progress in vaccination rollouts across the region remains slow as many countries still face challenges in procuring supplies and suffer from resource constraints.
Vaccine inequity causes ‘dangerous divergence’ in COVID survival rates – UN agency heads
“These countries, the majority of which are in Africa, simply cannot access sufficient vaccine to meet even the global goals of 10 per cent coverage in all countries by September and 40 per cent by end 2021, let alone the African Union’s goal of 70 per cent in 2022”, the UN officials said.
HC to hear in Oct appeals of FB, WhatsApp in privacy policy matter
The case relates to the appeals of Facebook and WhatsApp against a single judge order dismissing their pleas against the probe CCI ordered into the instant messaging app’s new privacy policy.
CCI had contended that the new privacy policy of WhatsApp would lead to excessive data collection and “stalking” of consumers for targeted advertising to bring in more users and is therefore an alleged abuse of dominant position.
Climate Change: 80% of South Mumbai will be under water by 2050, Mumbai municipal commissioner
Mumbai municipal commissioner Iqbal Singh Chahal said that Mumbai is the first city in South Asia that is preparing its climate action plan and acting on it.
“Earlier, we used to hear about climate change events like melting glaciers, but not directly affecting us. But now it has come to our doorstep,” he added.
Chahal said that last year for the first time in 129 years, a cyclone (Nisarga) hit Mumbai and thereafter in the last 15 months, there have been three cyclones. After that, on August 5, 2020, about 5 to 5.5 feet water was accumulated at Nariman point.
FDI equity inflows up 168% to $17.57 bn during Q1FY22: Govt data
The data showed that the automobile industry has emerged as the top sector during the period under review with 27 per cent share of the total FDI equity inflows. It was followed by computer software and hardware (17 per cent) and services Sector (11 per cent).
Further, Karnataka is the top recipient state during April-June 2021, with 48 per cent share of the total FDI equity inflows. It was followed by Maharashtra (23 per cent) and Delhi (11 per cent).
India’s data centre industry capacity to double by 2023 to 1,008 MW: Report
New Delhi: The capacity of data centre industry is expected to double by 2023 to over 1,000 MW to meet the rising demand amid sharp growth in digitalisation, according to property consultant JLL. The industry's capacity is expected to double from 499 MW in...
Pharma industry to surpass $60 bn by FY24: Report
The report expects this faster growth to be driven by the ability of the domestic industry to leverage the opportunities arising from the expiry of the many patented drugs across the globe, ebbing of regulatory risks, adoption of various de-risk strategies from China dependency for key raw materials, increasing PE investments, and strong fundamentals of the industry.
Govt releases draft of declaration to be given by cos to enable withdrawal of retro tax demands
”The aim of the amendment made by the 2021 Act is to bring tax certainty and ensure that once specified conditions are fulfilled, the pending Income-tax proceedings shall be withdrawn, demand, if any, raised shall be nullified, and amount, if any, collected shall be refunded to the taxpayer without any interest,” the statement said.
Govt wants returns from PSU insurers:DFS Secy
“These companies should be able to generate profit so that they can give some return to their stakeholder- government,’’ said Panda while addressing employees of New India Assurance recently on the occasion of the company’s 103rd foundation day.
Identifying four pillars on which these companies should build their business, Panda said these companies should adopt technologies to keep up with the times, be customer centric as a matter of best practices, taking care of the population who are at the bottom of the pyramid and above all design products for social security in the matter of property, health and natural catastrophes.
Citigroup, Kotak Mahindra, Among 10 Others Selected To Manage LIC IPO
A ministerial panel, called the Alternative Mechanism on strategic Divestment, is expected to decide soon on the size of the stake to be sold. It could be around 10 per cent, sold in two tranches, the two government sources said.
The other selected lenders are JM Financial Ltd, Axis Capital, Nomura, BofA Securities, J.P. Morgan India Pvt Ltd, ICICI Securities and Kotak Mahindra,