sitharaman: Sitharaman highlights rising debt vulnerabilities in developing countries at G20, seeks multilateral coordination

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Finance Minister Nirmala Sitharaman on Friday highlighted rising debt vulnerabilities in many developing countries and sought views from G20 member nations on ‘multilateral coordination’ for managing the burden. Speaking at inaugural session of the G20 finance ministers and central bank governors (FMCBG) meeting, Sitharaman also sought views on how multilateral development banks, like the IMF … Read more

Government seeks Parliament nod to spend additional Rs 1.48 lakh cr in 2022-23

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The government on Monday sought the approval of Parliament to spend an additional Rs 1.48 lakh crore for the current financial year 2022-23 as part of the second batch of supplementary demands for grants. Of the total, an additional fund of Rs 36,325 crore is being sought for payment towards fertiliser subsidy, said the second … Read more

Budget 2023 Expectations: Healthcare tech industry seeks cut in customs duty, removal of health cess on medical devices

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With days left for the Budget 2023 to be presented in Parliament, the Medical Technology Association of India (MTaI) urged the government to reduce customs duties and removal of health cess on imported medical devices on Wednesday. While appreciating for the various reforms undertaken by the government during the previous year, the association, which represents … Read more

Bangalore-based job portal startup seeks $5 million after raising $1 million in seed funding

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Organizing The Unorganized (OTU) India, a Bangalore-based startup, is set to raise around $5 million in a pre-Series A funding round over the next few months to cover costs related to areas like technology and customer acquisition. This is in addition to around $1 million that OTU has already raised in seed funding recently. Pre-Series … Read more

Budget 2023 Expectation: SMEV seeks extension of subsidies for electric vehicles under FAME-II

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The Society of Electric Vehicle Manufacturers applied on Tuesday for the extension of subsidies for electric vehicles under the FAME II scheme and also includes light to heavy commercial vehicles to promote electric mobility. In its pre-budget recommendations, the industry body also called for a flat 5 per cent GST on parts for electric vehicles. … Read more

Budget 2023 Expectation: Commerce Ministry seeks cut in gold import duty in budget to push jewellery exports

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Budget 2023 Expectation: The commerce ministry has sought a reduction in the import duty on gold in the forthcoming budget with a view to push exports and manufacturing of the gems and jewellery sector, sources said. In July this year, the centre hiked gold import duty to 15 per cent from 10.75 per cent to check … Read more

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