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Speaking on the budget announcements, Mr Vinod Aggarwal, President, SIAM and MD & CEO, VECV, on Union Budget 2024-25 said, “The Indian Automobile Industry welcomes the continued emphasis on economic growth with several announcements especially the strong fiscal support for infrastructure in the next 5 years. The announcements such as liberal allocation for rural development […]
States charging high stamp duties on purchase of properties will be encouraged to bring down the rates, Union Finance Minister Nirmala Sitharaman said on Tuesday, asserting that the reform will be a key component in urban development schemes. She also asked states to consider further lowering stamp duties for properties bought by women. “We will […]
Real estate players have lauded the Union Budget for its strong emphasis on urbanisation, infrastructure development, and women’s empowerment. Sushil Mohta, president of CREDAI West Bengal and chairman of Merlin Group, praised the government’s ambitious goal to increase the real estate sector’s GDP contribution from 8 per cent to 13 per cent by 2025. […]
Industry leaders on Tuesday said the first Budget of Modi 3.0 by Finance Minister Nirmala Sitharaman continues the path of fiscal consolidation while focusing on the common man’s interests but felt more could have been done for Indian investors. Hospitality sector, however, expressed disappointment with the Budget for 2024-25 saying “There is nothing spectacular in […]
Eyeing leadership in the electric two-wheeler segment, Hero MotoCorp is looking to roll out affordable models in the current fiscal, according to CEO Niranjan Gupta. The country’s largest two-wheeler maker is also hopeful of the debut of its electric range in the international markets. Addressing shareholders in the company’s Annual Report for 2023-24, Gupta said […]
Realtors’ body Credai on Saturday urged the government to provide more tax benefits to homebuyers, offer incentives to builders to develop low-cost homes and streamline the approval process to undertake real estate projects in the upcoming Budget. Credai, in a statement, said it has given various recommendations to the government for further growth of the […]
The production linked incentive scheme (PLI) for automobile and auto components has so far attracted a proposed investment of Rs 67,690 crore, said Economic Survey 2023-24 tabled in Parliament on Monday. A capital of Rs 14,043 crore has been invested till end-March 2024, it stated. Applicants have proposed employment generation of 1.48 lakh, against which […]
The government is working on the FAME III scheme for promotion of electric mobility and it is likely to be implemented in the near future, Union Minister HD Kumaraswamy said on Tuesday. The third phase of Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme will, however, not be featured in the upcoming […]
Two-wheeler sales in India are expected to grow around 6-8 per cent this fiscal and could reach the peak level of 2018-19 either in the fourth quarter or the beginning of next financial year, a top official of Bajaj Auto said on Tuesday. The rising commodity prices, specially natural rubber, have forced the company to […]
Indian automotive industry will need up to 2 lakh skilled people by 2030 to meet the government’s vision of 30 per cent electric vehicle adoption, the Society of Indian Automobile Manufacturers said on Tuesday. A total talent investment of Rs 13,552 crore is expected for hiring and training the workforce. “As we look ahead, […]