Net direct tax mop up rises 23% to Rs 7.04 trillion so far in FY23: CBDT chief

NEW DELHI: The net direct tax collection has increased 23 per cent to Rs 7.04 lakh crore so far this fiscal, the income tax department said on Tuesday. Central Board of Direct Taxes (CBDT) Chairman Nitin Gupta said the income and corporate tax collections were at a record high of Rs 14.09 lakh crore in […]

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Odisha approves proposal to bring limestone under long-term linkage policy

BHUBANESWAR: The Odisha cabinet on Thursday approved a proposal to bring lime stone under the purview of Long-Term Linkage (LTL) policy, in a bid to streamline its supply to the industries of the state. These industries will henceforth be getting their lime stone supply through Odisha Mining Corporation Limited (OMC), said Chief Secretary SC Mohapatra. […]

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India’s Defence Ministry signs contract worth Rs 1700 crore to acquire additional Brahmos missiles

NEW DELHI: In a further impetus to self-reliance in defence production, the Defence Ministry on Thursday signed a contract with BrahMos Aerospace for acquisition of additional dual-role capable surface-to-surface BrahMos missiles at an approximate cost of Rs 1,700 crore under ‘Buy-Indian’ category. In a statement, the ministry said the induction of these dual-role capable missiles […]

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US lawmakers call for strong ties with India, hail Indian-Americans’ help

WASHINGTON: Top Senators and influential Congressmen have advocated for a strong India-US tie and underscored the contribution of the Indian-American community in this matter. At the Indian Independence Day celebrations event at the US Capitol on Wednesday, Senator Joe Manchin, a West Virginia Democrat, recalled his visits to India and seeing “the greatness of the […]

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CBI arrests ABG founder Rishi Agarwal in Rs 22,842 crore bank fraud case

NEW DELHI: The CBI on Wednesday arrested Rishi Kamlesh Agarwal, the founder of ABG Shipyard Limited, in connection with an alleged bank fraud of more than Rs 22,842 crore, officials said. The Central Bureau of Investigation (CBI) had booked Agarwal, a former chairman of the company, the then executive director Santhanam Muthaswamy, and directors Ashwini […]

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BJP lying on Vedanta semiconductor plant that went to Gujarat: Uddhav Thackeray

NEW DELHI: Shiv Sena president Uddhav Thackeray on Wednesday dared the BJP to defeat it in the upcoming Mumbai civic polls, saying his party’s relationship with the metropolis was unbreakable. He also accused the Bharatiya Janata Party (BJP) of “lying” on the Rs 1.54 lakh crore Vedanta-Foxconn semiconductor project which has been shifted to Gujarat. […]

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After Amazon, Apollo Global wades into India’s corporate governance jungle

NEW DELHI: After Amazon.com Inc., it’s the turn of Apollo Global Management Inc. to wade into the jungle that’s corporate governance in India. It has sued a Mumbai-based warehousing firm in which it owns a large stake. The cause of the dispute vanished on Monday when the company dropped a controversial plan to sell its […]

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India would be $25 trillion economy in 25 years: NaBFID Chairman K V Kamath

NEW DELHI: India is expected to be a USD 25-trillion economy in 25 years, veteran banker and chairman of National Bank for Financing Infrastructure and Development K V Kamath said on Tuesday. NaBFID was set up by the government last year to support the development of long-term infrastructure financing in the country. Kamath also said […]

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Essar to invest $4 billion in steel plant in Saudi Arabia in 3 years: Official

NEW DELHI: The Essar Group is looking to invest USD 4 billion in setting up an integrated flat steelworks plant in Saudi Arabia in the next three years, a senior company official said. The plant, which will cost Saudi Riyal 15 billion (USD 4 billion), is scheduled to break ground by this year-end and be […]

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India receives 75 applications under PLI scheme for specialty steel

NEW DELHI: The government of India has received around 75 applications from domestic players under the PLI Scheme for specialty steel, according to an official. Applicants include all major steel players like Tata Steel, JSW Steel, JSPL, AMNS India and SAIL, a senior steel ministry official said. “A significant number of applications have been received. […]

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