Indian Economy: News and Discussion

Concard

Senior Member
Joined
Jun 18, 2020
Messages
1,105
Likes
8,519
Country flag
View attachment 231816


We need more such plants in all the non arable areas in the country
There isn't much of non arable areas every where. We need to figure out a way to grow crops under the solar panels. With current Solar panels we can grow tomatoes easily. Anyway Solar panels have to be cleaned with water so that dust doesn't block the panels. That same water can feed the crops. There is a new emerging space called agrivoltaics.

Solar panels are installed on a elevated level which allows for crops to be grown underneath without loss of land.

1702019524575.png

1702019556498.png

1702019624567.png
 

Concard

Senior Member
Joined
Jun 18, 2020
Messages
1,105
Likes
8,519
Country flag
Chinese Vivo swindled 1 trillion INR

Chinese companies are slowly getting squeezed in India and rightly so. They have been defrauding Indian government by not paying taxes for long. It is time to squeeze them more and extract our pound of flesh. First it was Xiaomi now it is Vivo. I hope next they go after One plus. Seize their assets in India if they do not pay up. We can no longer Chinese companies to have access to Indian market. They don't play by the rules in trade and they don't play by the rules in doing business either.
 

Indrajit

Senior Member
Joined
Feb 27, 2018
Messages
3,960
Likes
15,024
Country flag
States receive 100% of State GST (SGST) collected in that state, approximately 50% of IGST collected in the state, and a portion of CGST is also devolved to the states based on the Finance Commission's recommendations.

Industrialised states like Tamil Nadu have several companies with pan-India operations and concurrent tax payments.

For example, Tamil Nadu is one of the leading automobile manufacturing states in the country. Manufacturers make a profit because these automobiles are sold across the country. Similarly, plantations from Kerala make profits by selling across India.

This explains why the location of direct tax collection may not be a fair and equitable principle for the sharing of tax because although the money comes from everywhere across India, tax is paid in the state where the companies are registered.

So, if automobile companies selling across India are registered in Sriperumbudur in Tamil Nadu and they pay their taxes from there, it's not just Tamil Nadu's tax money that is there.

I think there is a misunderstanding. GST is a consumption tax, taxed only at the point of consumption. Interstate transactions have IGST which is fully collected by the centre and shared with the consuming state (not state of production). That is why IGST exists, for the centre to collect the tax (paid at place of production) and then transfer 50% of it to the consuming state. For example, TN would only get 50% of IGST only when point of production is elsewhere and consumed in TN.

"The tax is collected by the Central Government from the party sending the goods/service. The revenue collected as IGST is distributed equally between the Central Government and the government of the state to which the goods/service is supplied (the state of consumption of the goods/service)."
 

SKC

Senior Member
Joined
Aug 16, 2014
Messages
8,411
Likes
29,012
Country flag
Way back in 2004. Indore was fondly called 'choron ki nagri'(city of bandits & thieves).

Rest of MP was no better plus the state was still in 'adjustment phase' post bifurcation going by what the locals said.

We used to joke often that civilization ended outside a metropolis.
Bimaru state with poor electricity

Now: electricity surplus state and 3 out of 5 most clean cities on India, year on year.
 

hurrians

Regular Member
Joined
Nov 24, 2023
Messages
519
Likes
1,031
Country flag
Metal and ore are an prominent export commodity of Bharat.

Bharat is working on its own carbon tax mechanism which aims to penalise imports from developed countries for the
historic carbon emission that has played a much larger role in fuelling global warming.

 

hurrians

Regular Member
Joined
Nov 24, 2023
Messages
519
Likes
1,031
Country flag
1994 BAT vs ITC


2023 BAT vs ITC


ALL MNC brands old and new age take profit away, however they did bring technology and IP, how to move away from being purely consumer state, mandate compulsory investment by pvt and gov business in R&D.
 

Haldilal

लड़ते लड़ते जीना है, लड़ते लड़ते मरना है
Senior Member
Joined
Aug 10, 2020
Messages
29,243
Likes
112,187
Country flag
Ya'll Nibbiars The Airbus Tata MRO Facility in MIHAN.

GA0vCHQXIAAqrDP.jpeg
GA0vDHQWwAAKZdg.jpeg
 

another_armchair

Senior Member
Joined
Feb 28, 2019
Messages
10,943
Likes
49,927
Country flag
Kind of news that is bound to excite hoarders and speculators.



India's wheat inventories at state warehouses have dropped to 19 million metric tons, the lowest in seven years, two government sources said on Friday, as two years of falling production forced state-run agencies to sell more grain to private players.

Last year, India, the world's second-biggest wheat producer, banned exports after output was curtailed due to a heat wave and overseas sales picked up as Russia's invasion of Ukraine sent global prices to multi-year highs.

While U.S. wheat prices have corrected more than 35% so far in 2023, prices in India have leapt more than 20% in the past few months, despite the ban. That, according to trade and industry officials, is because this year's domestic wheat output is at least 10% less than the farm ministry's estimate of record production of 112.74 million metric tons.

Another indicator of low output is that the government has bought only 26.2 million metric tons of wheat from local farmers this year, compared with its target of 34.15 million tons.

But, despite the tight supply, the government has resisted calls to facilitate imports by either lowering or abolishing the current 40% tax or by directly buying from top suppliers such as Russia. Instead, it has dipped into state reserves to sell wheat to bulk consumers, such as flour millers and biscuit makers, to cool domestic prices.

"Stocks are lower, but the government still has sufficient stocks to ensure that prices do not rise sharply. The government can still offload more wheat in the market if there's a requirement," said one of the sources.

"The government has adequate stocks until the next crops arrive in the market," the source said. The sources declined to be named as they are not authorised to speak to the media. Farmers have sold their stocks and flour mills' inventories have depleted, traders said.

"Mills are buying from auctions conducted by the Food Corporation of India to run their operations. But this will soon force the government to sell more stocks to stabilize prices," said a Mumbai-based dealer with a global trade house.

And that, the deal said, will pull stocks below 6 million tons when the new marketing year starts on April 1, against the norm of a buffer of 7.46 million tons.

"To counter this, the government must initiate imports to secure enough stocks for market intervention. The correction in global prices presents a good opportunity to make purchases," he added.

Indian farmers are currently planting wheat, with the harvest to start by March.

Trade and industry officials believed higher prices would encourage farmers to plant more wheat, but planting is still lower than last year as dry weather conditions have sapped the soil of moisture and dragged down water levels at reservoirs.

The other threat that looms over the crop is that of any abnormal rise in temperatures during harvest time.
 

Psacha1234

Regular Member
Joined
Aug 11, 2023
Messages
521
Likes
4,334
Country flag
JUST IN: The Wall Street Journal reports that Apple is aiming to build more than 50 million iPhones in India annually within the next two to three years, equivalent to a quarter of global iPhone production.
A lot of ‘experts’ including RRR were whining that we are just assembling phones without value addition.
Basic economics tells you that once you achieve scale in assembly, value addition will naturally follow. This was the older news on adding value.

1702094972088.png
 

Samej Jangir

Regular Member
Joined
May 15, 2023
Messages
172
Likes
379
Country flag
India will address EU's carbon tax issue; will retaliate if required

India will address the issue of the European Union's plan to impose a carbon tax on certain imported goods, Commerce and Industry Minister Piyush Goyal on Friday said, adding that "I will retaliate" if required.
The CBAM (Carbon Border Adjustment Mechanism) or carbon tax (a kind of import duty) will come into effect from January 1, 2026. However, from October 1 this year, domestic companies from seven carbon-intensive sectors, including steel, cement, fertiliser, aluminium and hydrocarbon products, will have to share data with regard to carbon emissions with the EU.
"Bharat will address the problem of CBAM with confidence, and we will find solutions. We will see how we can convert CBAM to our advantage if it comes in. Of course, I will retaliate. You need not worry about it," Mr. Goyal said here at an industry chamber event.
According to a Global Trade Research Initiative (GTRI) report, CBAM will translate into a 20-35% tax on select imports into the EU, starting January 1, 2026.
India's 26.6% of exports of iron ore pellets, iron, steel, and aluminium products go to the EU. These products would be hit by CBAM. India exported these goods worth $7.4 billion in 2023 to the EU.
He also said that India retaliated against the US after it imposed additional customs duties on certain steel and aluminium products.
To resolve the issues, India and the US ended all the bilateral disputes that they had in the World Trade Organization (WTO).
 

dfcool

Senior Member
Joined
Jul 28, 2022
Messages
1,509
Likes
11,599
Country flag
A year old, but Good article on people who make policies, and run this country. today i discovered.

Young and energetic IAS become "cogs in the wheel of complacency", soon loose their moral compass.

18e6 ias babus.png
 
Last edited:

hurrians

Regular Member
Joined
Nov 24, 2023
Messages
519
Likes
1,031
Country flag

Latest Replies

Global Defence

New threads

Articles

Top