Indian Economy: News and Discussion

Bhumihar

Cheeni KLPDhokebaaz
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Where is Oil. @Chandragupt Maurya may be interested in Dubai data as it does not show dependence of any natural resource. :troll:
Sad state of Chandragupta he feels like everything in Bihar can be solved by throwing more money and resource at our problem's.
Gold whether mined or not will have no affect on Bihar Economy. Value addition, local production and consumption is the key factor in growth of a economy.
 

DivineLight

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Only counter to extortion is empowering the public. Change the gun laws. There might be chaos initially but it will empower our society in long run.

Every gunda/troublemaker somehow gets his hands on guns/bombs. Only public left with no protection.
 

Lonewolf

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Only counter to extortion is empowering the public. Change the gun laws. There might be chaos initially but it will empower our society in long run.

Every gunda/troublemaker somehow gets his hands on guns/bombs. Only public left with no protection.
Nope , worst of all suggestions if there was a ranking ,i know it's don't cost anything to show stupidity but sometimes you watch out in this department
 

DivineLight

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Nope , worst of all suggestions if there was a ranking ,i know it's don't cost anything to show stupidity but sometimes you watch out in this department
How it can be worst?

And americans are all stupid then?

May be stupid fu*ks like you like getting extorted by some miscreant with an illegal gun.
 

Lonewolf

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How it can be worst?
You think that those gunda are just another neighbor, most have criminal record and it would not be much difficult for them to put a bullet through the head of the kids of their enemy but you will lose a lot , in US , extortion is not present so the gun laws may help ,but here we are talking about organized crime ,where not extortion but in other forms US sucks .

So if you want wild west ,in your area ,go for it
 

DivineLight

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You think that those gunda are just another neighbor, most have criminal record and it would not be much difficult for them to put a bullet through the head of the kids of their enemy but you will lose a lot , in US , extortion is not present so the gun laws may help ,but here we are talking about organized crime ,where not extortion but in other forms US sucks .

So if you want wild west ,in your area ,go for it
It's already wild west in India. Lol. If you think it is safe here, no one can help you.

1627477285642.png
 

Lonewolf

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It's already wild west in India. Lol. If you think it is safe here, no one can help you.
How old are you , huh ?? You don't know what gonna happen if your proposal is accepted , explain me the situation of your state , the law and order and how are you pissed off
 

DivineLight

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How old are you , huh ?? You don't know what gonna happen if your proposal is accepted , explain me the situation of your state , the law and order and how are you pissed off
I am 7 years old. Just chilling at home due to Covid Holidays. This uncle pointing gun at police, shook me and my 7 year old friends to core.

1627477379695.png
 

Chandragupt Maurya

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Where is Oil. @Chandragupt Maurya may be interested in Dubai data as it does not show dependence of any natural resource. :troll:
The petroleum sector accounts for roughly 87% of Saudi budget revenues, 90% of export earnings, and 42% of GDP.
The economy of Saudi Arabia is one of the top twenty economies in the world, and the largest economy in the Arab world and the Middle East.
Saudi Arabia is part of the G20 group of countries.
 

doreamon

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How it can be worst?

And americans are all stupid then?

May be stupid fu*ks like you like getting extorted by some miscreant with an illegal gun.
If gun gets legal there ll be civil war just with in a year .. Our police cnt handle .. neither can army given such huge population . There ll be killing spree .. If usa has diversity and some racial issues india is × 100 with lots of baggage of history . Just in independence weekend 150 people died in USA .. And yes people is USA are dumb . If u want gun violence every other day whn u are out with our kids or gf good for u .
 

DivineLight

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If gun gets legal there ll be civil war just with in a year .. Our police cnt handle .. neither can army given such huge population . There ll be killing spree .. If usa has diversity and some racial issues india is × 100 with lots of baggage of history . Just in independence weekend 150 people died in USA .. And yes people is USA are dumb . If u want gun violence every other day whn u are out with our kids or gf good for u .
I am not asking government to give public some assault rifle.

Civilians should be armed with small range pistols. If it exceeds that, it will be illegal. Police should be given rifles. They can outrange you even if you go wild in your area.

50m range gun is not big deal for law and order. It's the bigger ones which create problems.
 

sorcerer

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ATMANIRBHAR BHARAT IN AVIATION SECTOR

Government taking steps to make India a hub for aircraft leasing and financing

Leasing Units exempted from corporate tax for a block period of 10 years
Unified Regulator for IFSC announced

World Class Fin-Tech hub to be developed at the GIFT-IFSC to promote domestic aircraft manufacturing


Posted On: 28 JUL 2021 6:50PM by PIB Delhi



Efforts have been made to make India a hub for aircraft leasing and financing through various means, which, inter alia, include the following:


  1. Exemption from corporate tax for a block period of 10 years within the first 15 years for leasing units
  2. Exemption from Stamp Duty on documents for such transactions carried out from International Financial Services Centres (IFSC) at GIFT-City
  3. Enactment of the International Financial Services Centres Authority (IFSCA) Act providing for a Unified Regulator for the IFSC in India, followed by the announcement of the Unified Regulator for IFSC
  4. Lease of aircraft or helicopter or engines or any other parts thereof designated as financial product under the IFSC Act
  5. Permission to insurance companies to undertake aircraft insurance and invest in leasing and financing business
  6. Enabling pension funds and alternate investment funds to participate in aircraft financing
  7. Enabling re-leasing of aircraft and engines within India at the end of expiry or termination of an existing lease without physical re-export of aircraft, and
  8. Granting waivers from Importer Exporter Code (IEC) and from General Remittances (GR) for overseas lessors and financiers.

To push aviation ecosystem in domestic aircraft manufacturing, the Ministry is engaging with leading aircraft and component manufacturers and encouraging them to enhance their design, manufacturing, maintenance and warehousing footprint in India. The ministry is also encouraging the manufacturing of aircraft, including regional transport aircraft, trainer aircraft and associated equipment by public and private enterprises in India.


The Ministry sent the following proposals to Ministry of Finance with regard to tax incentives and duties, etc., for Union Budget 2021-22:


  1. MAT credit to be allowed to be set off against the amount of tax payable even in those cases where option u/s. 115BAA is exercised
  2. Deduction under Section 80-IA of the Income Tax Act to major expansions creating a new facility like a new runway or terminal at airports
  3. Request to issue a circular clarifying that the activities like air cargo terminal, fuel farm etc. (that are essential for functioning of an airport) are part of an airport mentioned in section 80IA of the Income Tax Act, 1961, whether these operations are carried out by the airport operator or by the person authorized by the airport operator
  4. Reduction of Minimum Alternate Tax (MAT) Rate from 17.47% to 5% for infrastructure companies
  5. Deduction u/s 80G to be allowed towards Swachh Bharat Abhiyan and Clean Ganga Mission as part of CSR initiatives
  6. Non-consideration of FY 2020-21 and FY 2021-22 (being Covid-affected years) for computing eligible years for tax holiday for eligible entities
  7. Exemption from withholding tax on payment of interest by airports on overseas bonds having maturity period more than 5 years

The key announcements made for aviation sector in the Budget Speech 2021-22 by Hon’ble Finance Minister, inter alia, include the following:


  1. The Government would support the development of a world class Fin-Tech hub at the GIFT-IFSC
  2. In order to promote IFSC, it is proposed to provide more tax incentives which includes tax holiday for capital gains incomes of aircraft leasing company, tax exemptions for aircraft lease rental paid to foreign lessor, tax incentive for re-location of foreign funds in IFSC and tax exemptions to investment division of the foreign banks located in IFSC
  3. Duty reduced from 2.5% to 0% on components or parts, including engines, for manufacture of aircraft by Public Sector Units of Ministry of Defence
  4. The next lot of Airports will be monetised for operations and management concession.

This information was given byGeneral (Retd.) Dr.V.K. Singh, Minister of State in the Ministry of Civil Aviationin a written reply to Shri Prabhakar Reddy Vemireddyin Rajya Sabha today.
 

sorcerer

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Geological Survey of India takes up Seven Projects For Lithium exploration in Different States


Posted On: 28 JUL 2021 3:31PM by PIB Delhi



Every year, as per approved annual Field Season Programme [FSP], Geological Survey of India, an attached office of Ministry of Mines, takes up different stages of mineral exploration namely reconnaissance surveys (G4), preliminary exploration (G3) and general exploration(G2) following the guidelines of United Nations Framework Classification (UNFC) and Mineral Evidence and Mineral Content Rules (MEMC-2015) for augmenting mineral resource for various mineral commodities including lithium.
During FSP 2016-17 to FSP 2020-21, GSI carried out 14 projects on Lithium and associated elements in Bihar, Chhattisgarh, Himachal Pradesh, Jammu & Kashmir, Jharkhand, Madhya Pradesh, Meghalaya, Karnataka and Rajasthan. During the present FSP 2021-22, GSI has taken up 7 projects on Lithium in Arunachal Pradesh, Andhra Pradesh, Chhattisgarh, Jharkhand, Jammu & Kashmir and Rajasthan. However, resource of lithium has not yet been augmented by GSI.
Further, Atomic Minerals Directorate for Exploration and Research (AMDER), a constituent unit of Department Atomic Energy (DAE),has undertaken exploration for lithium in potential geological domains in parts of Karnataka and Rajasthan. AMDER has also taken up subsurface exploration in Marlagalla area, Mandya district, Karnataka. Reconnaissance surveys have been also carried out along Saraswati River palaeochannel, in Jodhpur and Barmer districts, Rajasthan for locating lithium mineralisation associated with brine (saline water in salt lakes). Preliminary surveys on surface and limited
subsurface exploration by AMD, have shown presence of Lithium resources of 1,600 tonnes (inferred category) in the pegmatites of Marlagalla – Allapatna area, Mandya district, Karnataka.
As per the available records, Lithium bearing minerals are in Part B ‘Atomic Minerals’ of First Schedule to MMDR Act, 1957 and their reserves/resources are not available in National Mineral Inventory.
Under the aegis of Ministry of Mines, a joint venture company named ‘Khanij Bidesh India Ltd. (KABIL) has been formed by three CPSEs namely National Aluminium Company Limited (NALCO),Hindustan Copper Limited (HCL) and Mineral Exploration Corporation Limited (MECL)with equity participation of 40:30:30 respectively, to acquire mineral assets overseas – primarily the critical & strategic minerals including Lithium, Cobalt & others and NOT Rare Earth Elements.
KABIL has signed Non-Binding Memorandum of Understanding [MoU] with non-disclosure agreement with the following three State-owned organizations of Argentina, for the purpose of information sharing w.r.t. prospective mineral acreages:
  1. M/s JEMSE, a State-owned enterprise of JUJUY province on 10th July, 2020,
  2. M/S YPF an Energy major & federal owned enterprises on 9th September, 2020, and
  3. M/s CAMYEN, a state owned enterprise of CATAMARCA province on 29th December, 2020.
 

Chandragupt Maurya

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Sad state of Chandragupta he feels like everything in Bihar can be solved by throwing more money and resource at our problem's.
Gold whether mined or not will have no affect on Bihar Economy. Value addition, local production and consumption is the key factor in growth of a economy.
If you ask a Pakistani why Baluchistan is poor and Punjab is comparatively rich they will give the same reason
And I am sure they gave the same reason for poverty in East Pakistan (Bangladesh) before 1971 which today is even more prosperous than India
 

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With an aim to further improve ease of doing business, Centre launches the "Secured Logistics Document Exchange" along with a Calculator for Green House Gas Emissions

The SLDE platform is a solution to replace the present manual process of generation, exchange and compliance of logistics documents with a digitized, secure and seamless document exchange system.

Digital transformation in the logistics sector to achieve the targets of improved India’s ranking in Logistics Performance Index

The Digital initiative set to improve logistics efficiency, reduce logistics cost, and promote multi-modality and sustainability

These digital initiatives are launched to fill gap areas where no action has yet been taken either by private players or any of the line ministries


Posted On: 28 JUL 2021 7:21PM by PIB Delhi



With an aim to further improve ease of doing business, Centre today launched the "Secured Logistics Document Exchange" along with a Calculator for Green House Gas Emissions


The Digital initiative is now set to improve logistics efficiency, reduce logistics cost, and promote multi-modality and sustainability in a big way.


These digital initiatives have been launched to fill the gap areas where no action has yet been taken either by private players or any of the line ministries. The Launch Event was attended by more than 75 participants from the Central Ministries, Banks, IT companies, international organizations, logistics sector stakeholders and industry bodies.


The Event emphasized on the importance of digital transformation in the logistics sector to achieve the targets of improved India’s ranking in Logistics Performance Index; reduction in logistics cost and establishment of indigenous India-specific metrics for continual improvement in logistics.


The Logistics Division with the mandate of “Integrated Development of the Logistics Sector” has planned specific digital initiatives with a focus on integrating the various digital systems across ministries/ departments and filling gaps so identified. In this context, key digital initiatives including SLDE platform for digital exchange of logistics-related documents and a Calculator for GHG emissions for choosing sustainable and right mode of transport for freight movement, have been developed.


The SLDE platform is a solution to replace the present manual process of generation, exchange and compliance of logistics documents with a digitized, secure and seamless document exchange system.


This will enable generation, storage and interchange of logistics-related documents digitally using Aadhaar and blockchain-based security protocols for data security and authentication; it will also provide a complete audit trail of document transfer, faster execution of transaction, lower cost of shipping and overall carbon footprint, easy verification of authenticity of documents, lowered risk of fraud, etc. The proof of concept of the platform has been developed and executed with banks (ICICI, Axis Bank, State Bank of India and HDFC Bank) and stakeholders including freight forwarders, exporters, importers and vessel operators.


Along with the SLDE, Centre also launched a Green House Gas Emission calculator as well.The GHG Calculator is an efficient, user-friendly tool and provides for calculating and comparing GHG emissions across different modes. It allows for commodity-wise comparison of GHG emissions and total cost of transportation, including their environmental cost, between movement by road and rail. The tool is intended to facilitate appropriate modal choice for allconcerned.


In his opening remarks Special Secretary (Logistics), Shri Pawan Kumar Agarwal remarked on the importance of Digital Transformation in the Logistics space and highlighted the role of Logistics Division in facilitating digital integration across the sector through such critical initiatives that have interface with more than one Ministry / Department. He further added that the initiatives launched at the event have the potential of creating a lasting and significant impact on the sector.


Emphasising on the benefit of sectors u doing business in the logistics sector that the SLDE platform would facilitate, the banking sector endorsed the robustness of the SLDE platform and lauded the efforts of the Logistics Division, MOCI, in this direction. Emphasising on the need for a fast, secure and efficient way of exchanging logistics-related documents including digitization of the e-bill of lading, all industry stakeholders expressed their support and adoption of this initiative.


Speaking on the occasion representatives from user industry associations like Federation of Indian Export Organisations (FIEO), Container Freight Station Association of India (CFSAI), etc., stressed on the importance and utility of a tool for calculating GHG emissions and basing modal choice on availability of environmental costs estimates would go a long way in promoting green and sustainable logistics
 

gslv markIII

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Nothing major, had no idea where to post this.

Eimco Elecon- an underground mining equipment manufacturer & a subsidiary of Elecon group- has recently started manufacturing equipment such as Continous Miners & Roof Bolters for the first time in India.

1627483287857.png

1627483610269.png


Eimco Elecon (India) Limited launched new products on September 18, 2020 as part of one of the initiatives of the company towards Make in India Concept.

The products are Continuous Miner CM3000, Roof Bolter RB2C, Shuttle Car SC10 LH and Shuttle Car SC10 RH in the underground mining sector. The new products cater to demands of the domestic market.


 

Indx TechStyle

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The petroleum sector accounts for roughly 87% of Saudi budget revenues, 90% of export earnings, and 42% of GDP.
The economy of Saudi Arabia is one of the top twenty economies in the world, and the largest economy in the Arab world and the Middle East.
Saudi Arabia is part of the G20 group of countries.
Metals in Bihar aren't crude like petrol, they'd have to processed.
Saudi has a bleak economic future in long term BTW. Since, it's nothing except oil.
 

HitmanBlood

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Why is GoI is obsessed with Tesla? They won’t set up manufacturing plant.
Didn't Elon said that he will consider only if gov gives import duty relaxations to EVs and "if" his brand is successful in India? BTW it is a troll statement to begin with. He just admitted that he has no plans to manufacture in India in near future nor he has given any indication of intrest. He said "if successful with imports". Did anyone ask what is his definition of sucess? 1000 cars, 10000 cars, 100000 cars? Still gov is bending over backwards to his wishes.

This will not just open floodgates of imported EVs but will also discourage domestic rising EV players like Tata. Every company will just import their EVs directly and will never invest in local manufacturing ecosystem because of this gov move. 10 years or 20 years in future same gov will wonder how there is no EV ecosystem in India. How India is behind other countries in EV manufacturing.

Auto industry is one of the few manufacturing industries that is booming against all odds. I hope gov don't mess it up with their Tesla appeasement policy.

Also this weird mentality of courting foreign brands. Why not give money and incentives to companies like Tata and Mahindra so India can have our own desi Tesla. This is what China does. We should do the same.
 

hawwk

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Didn't Elon said that he will consider only if gov gives import duty relaxations to EVs and "if" his brand is successful in India? BTW it is a troll statement to begin with. He just admitted that he has no plans to manufacture in India in near future nor he has given any indication of intrest. He said "if successful with imports". Did anyone ask what is his definition of sucess? 1000 cars, 10000 cars, 100000 cars? Still gov is bending over backwards to his wishes.

This will not just open floodgates of imported EVs but will also discourage domestic rising EV players like Tata. Every company will just import their EVs directly and will never invest in local manufacturing ecosystem because of this gov move. 10 years or 20 years in future same gov will wonder how there is no EV ecosystem in India. How India is behind other countries in EV manufacturing.

Auto industry is one of the few manufacturing industries that is booming against all odds. I hope gov don't mess it up with their Tesla appeasement policy.

Also this weird mentality of courting foreign brands. Why not give money and incentives to companies like Tata and Mahindra so India can have our own desi Tesla. This is what China does. We should do the same.
I don't see about reliability of the tesla. Middle class indians care more about longevity rather than cool sexy 23rd century looks. Also it's so expensive, those who are rich can just import the car. Tata motors and Mahindra are making such cool and reliable cars in quite a good price imo.
 

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