According to the Society of Manufacturers of Electric Vehicles (SMEV), in the fiscal year FY23, electric vehicle (EV) sales in India exceeded one million units for the first time, with the two-wheeler segment leading the way. The EV industry registered 11,52,021 units, which represented a 58 percent increase from 7,26,861 units in FY22. The sales…
According to ANAROCK Research, the inventory overhang in the top 7 cities in India fell to a record low of 20 months by the end of Q1 2023, down from 42 months in Q1 2018, marking a five-year low. By Q1 2020, the top 7 cities had seen the highest inventory overhang of 55 months….
The Union Finance Minister Nirmala Sitharaman in a press conference said, the provision of penalty for avoiding to link Parmanent Account Number (PAN) with Aadhaar is necessary. Such a provision helps in avoiding problems related to tax deducted at source (TDS) and tax collected at source (TCS). A late fee of Rs 500 was initially…
The Reserve Bank of India (RBI) has decided to keep the repo rate at 6.50 per cent, according to the bimonthly Monetary Policy Statement delivered by RBI Governor Shaktikanta Das. The Monetary Policy Committee (MPC) unanimously decided not to raise the repo rate, which had been raised six consecutive times prior to this announcement. Despite…
Launched on 5th April 2016 the Stand-Up India scheme has been a key contributor in economic empowerment, promoting entrepreneurship and job creation over the years. Sharing her views on the 7th anniversary of this scheme, the Union Finance and Corporate Affairs Minister Nirmala Sitharaman said this scheme provides a supportive environment to spur entrepreneurship. According…
Syama Prasad Mookerjee Port, Kolkata (SMP Kolkata) has recorded all time high throughput by handling 65.66 million tonnes of cargo in 2022-23. SMP Kolkata also includes Haldia Dock Complex and Kolkata Dock System. According to SMP Kolkata Chairman P. L. Haranadh, the port posted net surplus of Rs 304 crore in 2022-23 and the net…
Prime Minister Narendra Modi while sharing his views at the 5th International Conference on Disaster Resilient Infrastructure (ICDRI) 2023, underlined that the local Knowledge of building infrastructure should be used intelligently to withstand disasters. Local knowledge can be a global best practice. He added that some priorities for discussion on disaster resilience infrastructure is required…
A record number of auctions of mineral blocks across various major mineral states have been announced by the ministry of mines. The ministry has announced the auctions 105 mineral blocks during FY 2022-223. Madhya Pradesh has recorded 29 auctions. Iron Ore is the mineral that has faced the highest number of 33 auctions during the…
Ever since the country started focusing on self-reliance, defence production has been rising consistently, according to the Union Government. The value of the defence production was Rs 79,071 crore in 2019-2020 while in the corresponding year the production increased to Rs 84,643 crore thereafter it reached Rs 94,845 crore in 2021-2022, stated Ajay Bhatt, Minister…
Delhi Metro is all set to extend the timings of its last trains on April 4, 11, 20, 29 and May 6, 13, and 20 due to IPL T20 matches being held at Arun Jaitley Stadium also called Ferozshah Kotla Ground located near Delhi Gate Metro station situated on Violet Line that extends from Kashmere…
