The Prime Minister said the government is working to reduce compliance burden, further improve ease of doing business and cut down logistics costs for the industry.
PLI may boost India's manufacturing output by $520 bn in 5 yrs: PM
Prime Minister Narendra Modi
on Friday said production linked incentive (PLI) scheme, which is aimed at boosting domestic manufacturing and exports, is expected to increase the country's production by $520 billion in the next five years. Addressing a webinar on PLI scheme, organised by Department of Industry and International Trade (DPIIT) and NITI Aayog, through video conference, Modi said the government is continuously carrying out reforms to boost domestic manufacturing. In this year's Budget, about Rs 2 lakh crore was earmarked for the PLI scheme
for the next five years and "there is an expectation that the scheme would result in increasing the production by about $520 billion in the next five years", he said. Read more
West Bengal Chief Minister Mamata Banerjee
Friday released the list of Trinamool Congress candidates for the upcoming assembly polls for 291 seats with emphasis on youths, minority, women and backward communities. "I will be contesting from Nandigram, my party colleague Sobhandeb Chattopadhyay will be contesting from Bhawanipore seat," she said. Read more
Hike in platform ticket cost 'temporary': Railways
The recent hike in platform ticket cost in some stations is a "temporary" measure and is aimed at preventing crowding during the coronavirus pandemic, the railways clarified on Friday. Cost of platform tickets has been increased by up to Rs 50 in some stations recently. Read more
European stocks slide after Powell remarks
Rising US bond yields put European equities under pressure again on Friday after Federal Reserve Chair Jerome Powell's remarks failed to soothe investor concerns about a recent surge in borrowing costs. The pan-European STOXX 600 fell 0.7%, with shares of travel, media, and financial services companies leading the declines. Read more
Centre's regulations don't have provisions to take action against digital platforms: SC
The Supreme Court
Friday said the Centre's guidelines on regulating social media do not have any provision for taking appropriate action against digital platforms showing inappropriate content. It also granted protection from arrest to Amazon Prime Video's India head Aparna Purohit in FIRs lodged over web series Tandav. A bench comprising justices Ashok Bhushan and R S Reddy also issued notice to the Uttar Pradesh government on Purohit's plea for anticipatory bail in FIRs on Tandav series. Read more
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.