BUSINESS
Centre ushers in PLI for auto sector, focus on EVs
The over Rs 25,000 crore scheme is likely to boost production of components as well as give a push to the sector. In financial parlance, a PLI scheme provides incentives to the industry for boosting domestic production to lessen imports. Earlier, an outlay of Rs 1.97 lakh crore was made for PLI scheme spanning 13 sectors in budget 2021-22.
SpiceJet to launch 38 flights from Sep 15
"SpiceJet has also launched flights on the routes of Delhi-Surat-Delhi, Bengaluru-Varanasi-Bengaluru, Mumbai-Jaipur-Mumbai, Mumbai-Jharsuguda-Mumbai, Chennai-Pune-Chennai, Chennai-Jaipur-Chennai and Chennai-Varanasi-Chennai," the airline said in a statement on Wednesday. Besides the airline also launched new flights between Udaipur and Chennai which will operate thrice-a-week.
Delhi govt to get extra revenue of Rs 3,500 cr under new excise policy
"In comparison to the financial year 2019-2020, we will get Rs 10,000 crore in the wake of the new excise policy which will not only back Delhi Government's idea of coming up with this policy but will also prove our suspicion over the existence of a huge scale liquor mafia to be true," Sisodia said while addressing a press conference on Wednesday afternoon.
Centre gives PLI boost to drone manufacturing
Accordingly, the total amount allocated for the PLI scheme for drones and drone components is Rs 120 crore spread over three financial years. This amount, according to an official communique, is nearly double the combined turnover of all domestic drone manufacturers in FY 2020-21. The proposed tenure of the PLI scheme is three years, starting FY22.
91 Board positions lying vacant in 11 PSU banks: AIBEA
Ninety one out of 175 Board positions are vacant in the 11 nationalised banks, said C.H.Venkatachalam, General Secretary. Venkatachalam in a letter to Finance Minister Nirmala Sitharaman also said from 2014 when the National Democratic Alliance (NDA) came to power, the posts of Workman Director and Officer Director representing the employees and officers of the Banks remain vacant.
Likely govt support measures, PLI schemes buoy equities
Gains were capped due to negative Asian cues. Initially, both key indices -- S&P BSE Sensex and NSE Nifty50 -- had a gap-up opening. Among sectors, Power, IT, Oil & Gas, Consumer Durables, Utilities and Telecom were the main gainers. At 2.30 p.m., S&P BSE Sensex traded at 58,739.91 points, higher by 492.82 points or 0.85 per cent from its previous close.
Telcos to get relief in AGR payment
According to people in the know, the Cabinet has approved the moratorium of four years for AGR dues. The details are expected to be spelt out by Union Telecom Minister Ashwini Vaishnaw later in the afternoon. The move will be most beneficial for the stress-ridden Vodafone Idea. Shares of Vodafone Idea surged over 2 per cent on hopes of the relief package, while those of Bharti Airtel soared over 5 per cent.
Reconfigure agricultural producer support: UN report
The report, 'A multi-billion dollar opportunity: Repurposing agricultural support to transform food systems', launched late on Tuesday night by the Food and Agriculture Organisation (FAO), the UN Development Programme (UNDP) and the UN Environment Programme (UNEP) has found that the current support to producers mostly consists of price incentives.
Sodium-ion battery: Here's next best EV battery that is cheaper and easily available
Lithium-ion batteries are being used by companies all around the world but their production is very costly. Carmakers now are finding it difficult to cut down their costs and make their electric vehicles cheaper. This is becoming a monumental problem for both consumers as well as producers as innovation is coming in and making electric vehicles even more expensive.
Delhi to get 300 e-buses in January 2022: DTC official
In August 2020, Delhi Transport Minister Kailash Gahlot had said the national capital will receive as many as 2,000 electric buses by the end of 2021. However, a few months ago lack of infrastructure was cited as the reason behind the delay in the rollout of the first batch of this most commonly used mode of public transportation.
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