The Indian government’s proposal to reduce import duty on steel products in Budget 2021-22 would make their imports more competitive and in turn exert near-term pricing pressures on domestic steelmakers, rating agency ICRA said. In its report on implications of duty changes on the steel industry, the agency, however, said that domestic steel demand may […]
India’s move to cut the import duty on gold and silver to 7.5% from 12.5% will help to reduce smuggling and also spur consumption of jewellery in a limited way, traders said Tuesday. Despite the 5% reduction in customs duty, effectively this amounts to around a 2% lower duty because of the imposition of an […]
The Union Finance Minister Nirmala Sitharaman’s third budget indeed has some strong measures which can provide a major push to the agriculture sector as well as allied businesses like dairy. For instance, 10% increase in the agri credit target by 1.5 lakh crore (in conjunction with the proposal to set up DFI) will improve access to credit […]
The Budget for 2021-22 combined much needed radical policy interventions with risk prudence, to address a range of crises that have plagued the Indian economy, from unemployment, secular wage disinflation, a banking crisis and low economic growth. The government made an excellent decision to run a high fiscal deficit and increase capital outlay to build […]
India’s annual budget outlined several measures for the energy sector, including notably a proposal to set up a mission for development of the green fuel hydrogen that is being recognised as a fuel of the future, but on some counts disappointed players such as those in the solar sector. “The announcement of the National Hydrogen Mission for […]
The Indian industry said the budgetary measures to improve the ease of doing business, drive greater investments in infrastructure and increase privatisation in sectors such as insurance and management of ports will hasten the country’s economy to recover from the pandemic. In her latest budget speech, Finance Minister Nirmala Sitharaman also emphasised on improving the healthcare infrastructure, cleaning […]
Jay Cheema, is a partner in law firm Cyril Amarchand Mangaldas, where he specialises in energy. He talked to Biman Mukherji of indoasiancommodities.com about expectations from the forthcoming budget for the oil and gas, renewables and energy sector to expedite the recovery process from the global pandemic. Q: Oil prices have started recovering, but the sector has been […]
The government announced an allocation of Rs 15,000 crore to bolster India’s animal husbandry and livestock sector, or ‘pashudhan’, and an interest subvention of up to 3% to private players for setting up of dairy, poultry and meat processing units. With it, the country now also looks to ramp up export and dairy production as […]
Edible oil industry body Solvent Extractors Association (SEA) has expressed disappointment over the Budget 2019-20 saying the government did not announce any package to boost oilseed production despite its vision talked about focusing on bringing import bill on cooking oils. Only proposal that figured in the Budget was withdrawal of exemption from customs duty of […]
BIMAN MUKHERJEE India’s decision to raise the import duty on gold to 12.5% from 10% will significantly affect gold consumption as local prices are already at all-time highs, industry officials said.During her maiden budget speech, India’s finance Minister, Ms Nirmala Sithraman announced the increase in import duty of gold and some other precious metals from […]
