Latest News, Updates & Breaking Headlines
NEW DELHI: The government announced the rationalisation of royalty rates and methodologies for crude oil, natural gas and casing head condensate (a light hydrocarbon liquid obtained during gas production), in a move aimed at simplifying regulations and boosting India’s upstream energy sector.Union petroleum and natural gas minister Hardeep Singh Puri said the decision would bring…
NEW DELHI: CII has released a 20-point plan to help shield Indian companies grappling with the impact of the West Asia crisis, including tax and duty rejig for energy inputs, customs waiver for LNG, and long-term capital gains tax exemption for primary market investment to boost foreign capital inflows.Drawing upon the Covid-era toolkit, the industry…
NEW DELHI: The Indian Army will witness a reshuffle at the top level on Wednesday as heads of two key commands — Western and Eastern — retired on Tuesday.Lt Gen Manoj Kumar Katiyar, the general officer commanding-in-chief (GoC-in-C) of the Army’s Western Command, retired after a distinguished 40-year career. He earlier served as Director General…
CHENNAI/ NEW DELHI: The changes in foreign direct investment (FDI) rules for China and other land bordering countries (LBCs) are expected to fast track investment by global investment firms, such as Blackrock and Carlyle, as they were feeling the heat of approvals required, even if there was a very small Chinese shareholding.On Wednesday, the Union…
The government has revised the priority order for allocating domestically produced natural gas, placing LPG production, CNG for transport and piped cooking gas for households at the top of the list, as disruptions in imported gas supplies intensify amid the widening West Asia conflict, PTI reported.According to a gazette notification, the requirements of these sectors…
MUMBAI: Increased opportunities to hedge foreign exchange risk and longer trading hours are at the heart of a proposed overhaul by RBI to liberalise access to currency markets.The draft framework broadens the different types of derivatives that banks (authorised dealers) may offer to individuals and firms, extending hedging tools for currency and interest-rate exposures. Trades…
NEW DELHI: The withdrawal of GST compensation cess on cigarettes from next month will be matched by an increase in excise, and pan masala will face a health and national security cess. While govt had announced the changes earlier, the date for the tax rejig, from Feb 1, was notified late Wednesday, sending cigarette stocks…
Mumbai: Larsen & Toubro will transfer its real estate business to L&T Realty Properties, a wholly owned subsidiary of the company, for Rs 6,297 crore as part of a restructuring effort. The decision was made at the Monday board meeting held in Muscat, Oman. The real estate business generated revenue of Rs 641 crore during…
NEW DELHI: Goods and services tax (GST) collection growth moderated in Nov, following a massive overhaul of the structure, including rate reduction on 375 items, although govt asserted that it had helped boost consumption and the mop-up trends were in line with its estimate.During Nov, based on transactions in Oct, collections (excluding cess) went up…
The Commerce and Industry Ministry has circulated a proposal seeking comments from various central government departments on allowing foreign direct investment (FDI) in the inventory-based model of e-commerce, but only for export activities, PTI reported citing an official.The proposal, initiated by the Directorate General of Foreign Trade (DGFT), aims to boost India’s exports through the…
