Govt’s new subsidy regime hits fertilizer companies hard

Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) reported a significant decline in profitability margins during the latest December 2023 quarter due to industry-wide disruption stemming from a change in government policy. The company’s operating margins crashed to 6-7% in the first 9 months of financial year 2023-24, down from 18% in the same period […]

Fertilizer Industry Faces Double Whammy of Rising Costs and Falling Subsidies

India’s fertilizer industry is bracing for a potential squeeze on profitability in the coming months due to a combination of rising input costs and reductions in government subsidies based on declining international prices. According to industry analysts, prices of key inputs like ammonia, phosphoric acid, potassium and sulfur have rebounded strongly over the past two […]

Govt subsidy scheme shrinks affordable homes drastically

The size of apartments on sale in India are shrinking like never before, mostly due to a new affordable housing subsidy scheme announced by the government in early 2017. Under this credit subvention scheme, the government will today pay up to Rs 3.5 lakhs to banks on behalf of anyone who takes a home loan […]

Details revealed about Rahul Gandhi’s Rs 12,000 income guarantee scheme

Responding to widespread confusion, the Congress Party offered further details about Rahul Gandhi’s new Rs 12,000 minimum income guarantee scheme. UPDATE: The Congress on Tuesday changed the scheme announced on Monday, and removed any reference to Rs 12,000. It clarified that the scheme will only apply to the bottom 20%, and their income levels will […]

Ujjwala LPG scheme crosses 7 cr customers

The government’s ‘free LPG connection’ scheme, Ujjwala scheme has crossed the 7 crore-target, making it one of the most successful programs of the current government. The scheme launched on May 1, 2016 with a target of providing LPG connections to 5 crore low-income households, and achieved the target in a record of time of 28 […]

Cabinet okays incentive scheme for battery manufacturing in India

The government of India today approved a scheme to give incentives to companies that want to manufacture batteries in India. Briefing media after a cabinet meeting, IT minister Ravi Shankar Prasad said: “We have taken a big step to give incentives under the Make in India program to encourage the manufacturing of batteries.” The move […]

Aadhaar Face Recognition to help Govt identify people using only a camera

Going by indications from the Unique ID Authority of India, Aadhaar numbers could soon be linked to people’s images, allowing the government and corporations to identify people from their photographs and videos. “UIDAI introduces yet another landmark technology for authentication – Face Authentication,” tweeted @ceo_uidai, the official handle of the CEO of UID Authority of […]

Reliance, Essar triple petrol outlets in 2 yr, continue to expand fast – India Ratings

Private players such as Reliance Industries and Essar — owned by Russia’s Rosneft — have tripled the number of petrol and diesel outlets in India in the last two years, and could double their market share by implementing their ongoing expansion plans, India Ratings said. From practically nothing in 2014, private players including Shell and […]

Govt to give subsidy of Rs 2.5 lakh per flat; free land to builders

Central Government will give up to Rs 2.5 lakh as interest subsidy for people who take home loans to purchase their house under the Pradhan Manthri Awas Yojana, said Minister of Housing & Urban Affairs Hardeep Singh Puri. He also revealed plans to hand over government land to private builders as part of the scheme. […]

India achieves only 14% of rooftop solar power target

Even as India more or less sticks to the target on adding large solar farms under its ambitious Solar Mission project, the other leg of the plan — rooftop solar — remains woefully behind target. Under the solar mission, India is supposed to have put in 5,000 megawatt of solar plants on the roofs of […]

Govt to bring 532 welfare schemes under Aadhaar-based direct benefit transfer

The finance ministry has conducted an examination of the existing welfare and subsidy schemes of the central governments and identified 532 of them as being suitable to be migrated to the ‘direct benefit transfer’ or DBT model of disbursing of funds. Under the DBT scheme, the scheme benefit is converted into an equivalent monetary value, which […]

NDA-ruled states lead in digitization of public distribution systems

States ruled by the National Democratic Alliance have taken the lead in implementing digital ration shops with the introduction of electronic point of sale machines, while non-NDA states have lagged behind in introducing this crucial anti-pilferage measure, data obtained from the food and consumer affairs ministry showed. Out of the seven states that have introduced the system, five […]

No immediate plans for universal basic income: Indian Government

The Indian government has no immediate plans or proposals to institute a scheme of ‘unversal basic income’ in place of the myriad social welfare scheme run by the country at present, the finance ministry said in response to a query. The clarification that there is ‘no proposal for a universal basic income scheme’ comes in […]

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