Subsidy

Two US lawmakers have introduced a legislation in the House of Representatives against the subsidies on sugar given by several countries including India, Brazil, Russia, Mexico as well as the European Union.

Prime Minister Shehbaz Sharif for months held out against the tax rises and subsidy slashing demanded by the International Monetary Fund, fearful of backlash ahead of elections due in October.

Investors are anticipating policy reforms to rationalise bottlenecks for growth such as subsidies and a clear roadmap for disinvestment targets.

Prime Minister Narendra Modi's government has more than doubled capital spending since fiscal 2019/20 in a bid to make India a more attractive destination for global manufacturing.

Avon Cycles has denied any wrongdoing after the government said the company was among those being investigated for misappropriation.

The government expects to cut its fertiliser subsidy bill by up to 240 billion rupees if the fifth of companies' supplies is bought through bilateral contracts orgasexchange, said one of the government officials,

More than 40 lakh of the national capital's 57.60 lakh domestic power consumers have applied for subsidies under the Delhi government's free electricity scheme till Tuesday, government data showed.

Railway fare concessions to senior citizens, which were stopped during Covid, have not yet been reinstated despite MPs from both the ruling BJP and main opposition Congress batting for it, and a Parliament committee recommending it.

Approval has also been sought for the expenditure of the Ministry of Petroleum and Natural Gas towards payments of LPG subsidies to oil marketing companies and LPG connections, among others totalling to Rs 29,944 crore.

"The first half losses are publicly available. Add to that the LPG subsidy and you would arrive at approximate loss they have incurred," an official said.

The Indian government will stop its electric vehicle subsidy scheme for companies against which complaints have been received, CNBC TV 18 reported on Wednesday, citing sources.

The government may ask some of the companies to return the subsidies received already, the report added.

Last week, while inaugurating a new aircraft factory in western India, Indian Prime Minister Narendra Modi returned to a slogan he coined a few months after taking power in 2014: "Make in India." This time, however, he added: "Make for the world."

With just over 60 per cent of around 57 lakh power consumers in the national capital applying for power subsidy till October end, the Delhi government has extended the last date for application submission up to November 15.

EV manufacturer worries regarding the $430 billion (roughly Rs. 35.3 lakh crore) Inflation Reduction Act that was enacted by the US in August will be discussed by a task force, comprising US and EU officials, next week. The recently passed US law is aimed at rolling back climate change and making Washington a world leader in the EV market. However,...

Two US lawmakers have introduced a legislation in the House of Representatives against the subsidies on sugar given by several countries including India, Brazil, Russia, Mexico as well as the European Union.

Prime Minister Shehbaz Sharif for months held out against the tax rises and subsidy slashing demanded by the International Monetary Fund, fearful of backlash ahead of elections due in October.

Investors are anticipating policy reforms to rationalise bottlenecks for growth such as subsidies and a clear roadmap for disinvestment targets.

Prime Minister Narendra Modi's government has more than doubled capital spending since fiscal 2019/20 in a bid to make India a more attractive destination for global manufacturing.

Avon Cycles has denied any wrongdoing after the government said the company was among those being investigated for misappropriation.

The government expects to cut its fertiliser subsidy bill by up to 240 billion rupees if the fifth of companies' supplies is bought through bilateral contracts orgasexchange, said one of the government officials,

More than 40 lakh of the national capital's 57.60 lakh domestic power consumers have applied for subsidies under the Delhi government's free electricity scheme till Tuesday, government data showed.

Railway fare concessions to senior citizens, which were stopped during Covid, have not yet been reinstated despite MPs from both the ruling BJP and main opposition Congress batting for it, and a Parliament committee recommending it.

Approval has also been sought for the expenditure of the Ministry of Petroleum and Natural Gas towards payments of LPG subsidies to oil marketing companies and LPG connections, among others totalling to Rs 29,944 crore.

"The first half losses are publicly available. Add to that the LPG subsidy and you would arrive at approximate loss they have incurred," an official said.

The Indian government will stop its electric vehicle subsidy scheme for companies against which complaints have been received, CNBC TV 18 reported on Wednesday, citing sources.

The government may ask some of the companies to return the subsidies received already, the report added.

Last week, while inaugurating a new aircraft factory in western India, Indian Prime Minister Narendra Modi returned to a slogan he coined a few months after taking power in 2014: "Make in India." This time, however, he added: "Make for the world."

With just over 60 per cent of around 57 lakh power consumers in the national capital applying for power subsidy till October end, the Delhi government has extended the last date for application submission up to November 15.

EV manufacturer worries regarding the $430 billion (roughly Rs. 35.3 lakh crore) Inflation Reduction Act that was enacted by the US in August will be discussed by a task force, comprising US and EU officials, next week. The recently passed US law is aimed at rolling back climate change and making Washington a world leader in the EV market. However,...