India sanctions 134 food processing projects during the pandemic: Minister

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The Centre sanctioned 134 food processing projects across various states last year despite the COVID-19 pandemic and is committed to the growth of the sector, Union Minister Rameswar Teli said. Minister of State for Food Processing Industries Rameswar Teli participated in the fourth-edition of Emerging North East event on Friday in Guwahati. The event was […]

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India unveils expansionary budget to combat pandemic’s impact

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With covid pandemic in mind, Finance Minister Nirmala Sitharaman announced a plethora of allocations and tax incentives in the annual budget to expedite the economic recovery process. The Union Budget 2021-2022 definitely cheered investors and propelled the benchmark stock index (SENSEX) by 2,000 points, the largest in 10 months. The budget made substantially higher allocations for […]

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Finance Minister allocates Rs 22,000 crore for power, renewable energy sector, discom reforms in Budget 2020

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In her Union Budget 2020-21 speech, finance minister Nirmala Sitharaman announced the government allocating Rs 22,000 crore for energy sector. The union budget 2020 has proposed that the National gas grid will be expanded from 16,200 km to 27,000 km. “Further measures to reforms Discoms (distribution companies) would be taken. I propose to provide Rs […]

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Secondary metal producers seek duty cut on imported scrap in the ensuing Budget FY 2020-21

Secondary metal producers have asked the government to cut customs duty on imported metallic scrap and curb cheap imports, arguing they provide jobs but need a level-playing field. The industry faces an inverse duty structure: It pays 2.5 per cent customs duty on imported metallic scrap of aluminium and copper; and 5 per cent on zinc and lead. However, […]

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Gold demand rose 14% in Apr-Jun 2019, outlook for next to quarters weak: GFMS

India’s gold demand in the April-June 2019 quarter saw an increase of 14 per cent on a year-on-year basis, but it might remain muted in the next two quarters. Among the reasons for a weak outlook are high domestic prices. The rates, already high in international markets, will increase further in India on account of the 2.5 […]

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