Highway builders want infra loans provision pared to 2%
By increasing the provisioning from 0.4% to 5%, project viability will be the biggest impediment as interest cost will increase which is turn will increase the cost of the project both for the investor as well as the government, the National Highways Builders Federation (NHBF) said in its submission to the National Highways Authority of India, the finance ministry and the Reserve Bank of India. Key Points
Economic TimesMaruti expects semiconductor shortage to get better from Q2 onwards: Shashank Srivastava
Semiconductor shortage led to Maruti Suzuki India losing about 170,000 units last year, with Q4 bearing the brunt of the losses at 38,000, followed by Q3 with 46,000. While the problem persisted in April, the firm is hopeful of the situation improving from Q2, although it has limited visibility on chip component availability. Small car sales, although down due to affordability in recent years, grew by 20% in 2020, representing 34% of the overall market segment. Demand-supply gap will determine car discount levels in the face of limited chip availabilities. Key Points
Economic TimesTVS SCS bags contract from the UK Ministry of Defence for supplying spare parts for Land Rover
The Land Rover Wolf fleet has been in service with the UK MOD since the mid-1990s. TVS SCS along with the Post Design Services contractor, will continue to address to support the availability and upkeep of the platform. Key Points
FinancialexpressApple Vision Pro to be available in nine new countries, but India not among them
App Store now features more than 2,000 apps designed for the spatial user interface device. Tech giant Apple is set to expand availability of its latest... Key Points
The Tribune IndiaIndia flags four challenges as it embarks on $7 trillion economy path
The Finance Ministry has highlighted four challenges facing the Indian economy: AI's threat to the services sector, the trade-off between energy security and economic growth, the impact of global developments, and the availability of a skilled workforce. The Interim Budget announcement is separate from the Economic Survey, which will be released before the full budget after the general elections. Key Points
Economic Times
Government imposes minimum export price of USD 800 per tonne on onion till December 31
Onion prices have further risen to Rs 65-80 per kg in retail market of the national capital on lower supply. The government on Saturday imposed a minimum export price (MEP) of USD 800 per tonne on onion exports till December 31 this year with a view to increase availability of the vegetable in the domestic market and contain prices. Key Points
The Tribune IndiaGovt sets up Centre for Processing Accelerated Corporate Exit
The establishment of the C-PACE will help to reduce the stress on the Registry along with keeping the registry clean besides availability of more meaningful data to the stakeholders. The C-PACE will also benefit the stakeholders by providing hassle-free filing, timely and process-bound striking off their company's names from the register, the corporate affairs ministry said in a release. Key Points
Economic TimesNo plans to extend ALMM for renewable energy player: Official
The government earlier extended the ALMM by one year till March 2024 amid industry raising concerns over raw material availability and supply chain. ALMM was introduced to boost domestic manufacturing. The official further said that the ministry on a regular basis keeps on interacting with industry stakeholders and actively addresses their issues with respect to projects . Key Points
Economic Times