Dismiss Notice
Welcome to IDF- Indian Defence Forum , register for free to join this friendly community of defence enthusiastic from around the world. Make your opinion heard and appreciated.

Economy News

Discussion in 'World Economy' started by Indian_Idol, Jun 2, 2010.

  1. NKVD

    NKVD Lieutenant FULL MEMBER

    Joined:
    Oct 26, 2016
    Messages:
    409
    Likes Received:
    582
    Country Flag:
    India
    Specified uses Do you really Think It Was not Same As Previously

    Similarly Land Acquired by Govt For Strategic security reasons Earlier also
     
    Last edited: Oct 5, 2017
  2. Som Thomas

    Som Thomas 2nd Lieutant FULL MEMBER

    Joined:
    Nov 16, 2016
    Messages:
    126
    Likes Received:
    233
    Country Flag:
    India
    India’s wind power tariff falls to a record low of Rs2.64 per unit
    India’s wind power tariff falls to a record low of Rs2.64 per unit in an auction conducted by SECI for 1 GW of wind power contracts that ended in the wee hours this morning
    Utpal Bhaskar
    [​IMG]
    The aggressive bids came in the backdrop of India’s wind sector transitioning from a feed-in tariff regime to tariff-based competitive auctions. Feed-in tariffs ensure a fixed price for wind power producers. Photo: Bloomberg

    New Delhi: India’s wind power tariff fell to a record low of Rs2.64 per unit in an auction conducted by state-run Solar Energy Corp. of India (SECI) for 1 gigawatt (GW) of wind power contracts that ended on Thursday.

    While ReNew Power Ventures Pvt. Ltd and Orange Sironj Wind Power Pvt. Ltd bid Rs2.64 per kilowatt hour (kWh) to win contracts for 250 megawatts (MW) and 200MW each, Inox Wind Infrastructure Services Ltd and Singapore-based Sembcorp Industries Ltd’s Green Infra Wind Energy Ltd bid a tariff of Rs2.65 per unit for securing contracts of 250MW each. Adani Green Energy (MP) Ltd also bid Rs2.65 per unit to win a 50MW contract.

    “Against the 1,000 MW capacity SECI received 12 number of bids totalling to 2,892 MW capacity of which nine bids with a cumulative capacity of 2,142MW were shortlisted for e-reverse auction,” the government said in a statement. These firms quoted the price at which they will sell electricity, to win contracts under the tender that received demand for three times the grid-linked capacity being sold.

    These tariffs are lower than the average rate of power generated by coal-fuelled projects of India’s largest power generation utility, NTPC Ltd, at Rs3.20 per unit. The price gap between electricity generated from thermal, solar and wind projects has been bridged. This is primarily due to costs of solar modules and wind turbine generators falling by 80% and 20%, respectively, over the past five years.

    Experts believe that such tariffs couldn’t have been expected earlier.

    “These are unbelievable prices. One would have never imagined these kind of margins existed for the industry,” said Anish De, partner at the infrastructure and government practice at KPMG.

    All the nine firms in the fray for the reverse auction bid below the earlier recorded low of Rs3.46 per kWh for another 1GW tender in February floated by SECI. In a reverse auction, developers are chosen on the basis of the lowest prices offered.

    The aggressive bids came in the backdrop of India’s wind sector transitioning from a feed-in tariff regime to tariff-based competitive auctions. Feed-in tariffs ensure a fixed price for wind power producers. The winning prices are not an outlier, as was evident by the bids placed by BLP Energy Pvt. Ltd, global private equity fund Actis LLP’s Sprng Energy Pvt. Ltd, Hero Wind Energy Pvt. Ltd and ReGen Powertech Pvt. Ltd, which also bid low tariffs.

    In such a scenario, obtaining finance at the lowest cost has become key. India has also witnessed record low solar tariffs of Rs2.44 per unit in May which firmed up to Rs2.65per kWh in an auction conducted by the Gujarat government last month.

    While a Sembcorp spokesperson in an emailed response said, “Sembcorp Green Infra Ltd has participated in the second wind auction and has emerged as one of the successful bidders,” queries send to the spokespersons of a ReNew Power, Adani Group and Inox Group on Thursday remained unanswered.

    India has a target of installing 175,000MW of renewable energy by 2022. Of this, 100,000MW are to be generated by solar projects and 60,000MW by wind projects.

    The latest bids were placed at a time when concerns have been expressed over some states looking to renege on their offtake commitments for projects awarded at a comparatively higher tariff.

    Apart from the tariffs for executed power purchase agreements facing a downward tariff pressure from the states, the projects are also facing other impediments such as curtailment of wind power procurement, payment delays and the absence of guidelines for state-level wind bids, according to lobby group Wind Independent Power Producers’ Association.

    “These wind projects are to be commissioned within 18 months from the date of issue of Letter of Award by SECI to successful bidders,” added the government statement.
    http://www.livemint.com/Industry/sM...tariff-falls-to-a-record-low-of-Rs264-pe.html
     
    Schwifty likes this.
  3. vstol jockey

    vstol jockey Colonel MILITARY STRATEGIST

    Joined:
    Mar 15, 2011
    Messages:
    13,500
    Likes Received:
    14,949
    Country Flag:
    India
    wait for CESS on it. Thanks to GST and Jai-italyji.
     
  4. NKVD

    NKVD Lieutenant FULL MEMBER

    Joined:
    Oct 26, 2016
    Messages:
    409
    Likes Received:
    582
    Country Flag:
    India
    HIGHLIGHTS
    • World Bank also said that the GST is going to have a hugely positive impact on the Indian economy.
    • Responding to questions, the World Bank president insisted that this slowdown is temporary.
    • He added that Prime Minister Modi has made a huge commitment to the sanitation issue in India.

    India's economic slowdown an aberration: World Bank
     
    Som Thomas and Gessler like this.
  5. Agent_47

    Agent_47 Admin - Blog Staff Member MODERATOR

    Joined:
    Aug 3, 2011
    Messages:
    2,793
    Likes Received:
    5,472
    Country Flag:
    India
  6. NKVD

    NKVD Lieutenant FULL MEMBER

    Joined:
    Oct 26, 2016
    Messages:
    409
    Likes Received:
    582
    Country Flag:
    India
    In don't know what is so much halla gulla when 40% of traders not even paid GST


    Over 40% business entities make zero GST payment


    NEW DELHI: There may be noise over heavytax burden on small businesses but initial data does not support the complaint. It turns out that over 40% of the 54 lakh businesses which filed GST returns in July claimed 'nil' tax liability and paid no tax. This means that around 22 lakh did not pay even one rupee GST.

    Of the remaining 60% or 32 lakh businesses that filed returns on the GST Network ( GSTN), the IT backbone for the indirect tax, many did not have a cash liability as they opted to use the credits available for service tax or excise that they had paid before GST kicked in on July 1.

    Data available with the government showed that apart from those with "nil" returns, close to 70% of the 32 lakh businesses which had a tax liability paid anywhere between Re 1 and Rs 33,000 in taxes. In contrast, just around 0.3%, which is a little over 10,000 companies accounted for almost two-thirds of the GST mopped up by the government in July. The government had said that it had mopped up around Rs 94,000 crore during July.


    Currently close to 1 crore businesses and service providers are registered with GSTN, of which 72 lakh had migrated from excise, VAT and service tax, while 25-26 lakh new taxpayers have been added, finance ministerArun Jaitley said on Friday. He also said that around 9495% of the collection is from large assessees or those with a turnover of over Rs 1.5 crore, who make up around 10% of the registered base of taxpayers.


    [​IMG]




    “Everyone is simply seeking exemptions but most are not paying taxes,“ said an official. The government's move to usher in GST has faced criticism with political parties blaming poor implementation for the problems being faced by businesses. The government, while fixing the problems has said that a part of the reason for the criticism is due to the fact that many entities which were earlier out of the net or evading taxes are now being forced to pay up.

    Although tax collections are lower from a majority of the taxpayers, the government is hoping that GST will help widen the base and create space in the future to reduce tax rate. Jaitley said at Friday's meeting that GST Council also decided on how rates will be tweaked in the future. “ As revenue increases, and depending on the revenue neutrality situation in the future, rates will be tailored according to the concept paper (that was cleared),“ he said.


    http://economictimes.indiatimes.com/news/economy/indicators/over-40-business-entities-make-zero-gst-payment/articleshow/60980920.cms
     
    Zer0reZ likes this.
  7. randomradio

    randomradio Mod Staff Member MODERATOR

    Joined:
    Nov 22, 2013
    Messages:
    10,842
    Likes Received:
    5,830
    All the noise you see now is just like how anti-demonetization forces were suddenly concerned for all the people standing in lines to return money. Once things go back to normal, once Q3 and Q4 start registering greater than 7% growth, all this noise will simply disappear.
     
  8. Paliwal Warrior

    Paliwal Warrior Lt. Colonel ELITE MEMBER

    Joined:
    Aug 4, 2013
    Messages:
    6,170
    Likes Received:
    901
    A person needs brain to understand the issues,
    Unfortunately bhakts lacks it

    If you understand it the halla gulla is nit about paying tax

    It is about complicated compliance process

    Even if you don't pay tax you need to file returns prepare returns which has increased complication and the compliance part cumbersome and increased cost of compliance
     
  9. Paliwal Warrior

    Paliwal Warrior Lt. Colonel ELITE MEMBER

    Joined:
    Aug 4, 2013
    Messages:
    6,170
    Likes Received:
    901

    So in essence the FM is admitting that the basic tax payers have remained the same as those under the earlier system

    No increase in tax paying base due to gst currently
     
  10. Zer0reZ

    Zer0reZ 2nd Lieutant FULL MEMBER

    Joined:
    Jun 10, 2017
    Messages:
    173
    Likes Received:
    227
    Country Flag:
    India
    Shanghai Fosun Pharma acquires 74% stake in Gland Pharma

    China’s Shanghai Fosun Pharmaceuticals Group Co. Ltd said on Tuesday (03 October 2017) that it has completed its deal to acquire a 74% stake in Hyderabad-based drug maker Gland Pharma Ltd at a valuation of USD 1.09 billion. “Since all the conditions precedent of the acquisition of the controlling interest in Gland Pharma have been satisfied, boards of directors of Fosun Pharma and Fosun International are pleased to announce that the completion of the acquisition of the controlling interest in Gland Pharma”, the companies said in a joint statement.

    Gland Pharma’s stakeholder prior the Fosun deal
    The completion of the deal comes more than a year after Fosun agreed, in July last year, to buy a majority stake in Gland Pharma from the company’s founders and private equity investor KKR. KKR & Co. L.P. (formerly known as Kohlberg Kravis Roberts & Co.) is a global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic partners, hedge funds. KKR had invested $200 million to pick up a stake of around 38% in Gland Pharma in 2014. The deal was announced in November 2013 and was closed in August 2014.

    Minutes of the Fosun- Gland deal
    The mandatory regulatory filing (s) has clarified that Gland Pharma has become an indirect non-wholly owned subsidiary of Fosun Pharma and Fosun International. Fosun was initially looking to buy as much as a 96% stake in Gland Pharma. However, in the deal announced in July 2016, it had trimmed the stake to 86% (not more than USD 1.26 billion) without specifying any reason. However, the deal subsequently ran into regulatory hurdles. The Indian government’s Cabinet Committee of Economic Affairs was reluctant to approve Fosun’s plan to acquire 86% of Gland Pharma in light of a border stand-off between India and China.
    The Chinese firm, on September 17 this year, had decided to scale down its proposed acquisition of Gland Pharma to 74 percent stake at a valuation of not more than USD 1.09 billion. This would also include a contingent consideration in the amount of not more than USD 25 million in relation to the Enoxaparin launch.
    The acquisition of a 74% stake does not require CCEA approval because, in July 2016, the Indian government had said that foreign direct investment of up to 74% in existing pharmaceuticals companies would fall under the automatic route and will not require special approvals by CCEA.

    Expectations from the deal
    With an increase in the shareholding from the earlier contemplated sale, promoters Ravi Penmetsa and his father P V N Raju will continue on the board of the company and the present management team will remain in-charge of the day to day running of the company. Under the deal, the two companies are looking at synergies, including a bio-similar program developed at Fosun being made available for manufacturing by Gland Pharma and introducing them to the Indian market. Furthermore, the partnership will create new channels to sell the products of Gland Pharma in markets where Fosun has an existing presence.


    Earlier:
    India raises concerns at Fosun’s $1.1bn deal to buy Gland Pharma
     
  11. Butter Chicken

    Butter Chicken Lieutenant FULL MEMBER

    Joined:
    Oct 31, 2016
    Messages:
    935
    Likes Received:
    1,477
    Country Flag:
    India
    Saudi Arabia to invest $300 billion in next 4-5 years: NITI Aayog CEO Amitabh Kant

    NITI Aayog CEO Amitabh Kant on Monday said Saudi Arabia will invest $300 billion in India in the next 4-5 years. “Saudi Arabia wants to invest in energy security and supply and become India’s investment partner. It will invest $300 billion in next 4-5 yrs,” Kant was quoted as saying by ANI.

    The NITI Aayog CEO also said that Prime Minister Narendra Modi-led Union government would bring a ‘New Energy Policy’ for the country within 30-45 day. Modi’s focus is also on making a national grid for gas, added.

    Earlier in the day, Modi interacted with top oil and gas CEOs and experts from across the world in a meeting Delhi. The top CEOs and officials were from from Rosneft, BP, Reliance, Saudi Aramco, Exxon Mobil, Royal Dutch Shell, Vedanta, Wood MacKenzie, IHS Markit, Schlumberger, Halliburton, Xcoal, ONGC, IndianOil, GAIL, Petronet LNG, Oil India, HPCL, Delonex Energy, NIPFP, International Gas Union, World Bank, and International Energy Agency.

    NITI Aayog coordinated the meeting. A number of participants at the meeting strongly recommended the inclusion of gas and electricity in the GST framework.

    According to a PIB release, Modi said the scope for reform in many areas still exists. Modi also thanked the President of Russia, Vladimir Putin, and Rosneft, for their commitments and support to the energy sector in India.

    The PM also appreciated the 2030 vision document of the Kingdom of Saudi Arabia.

    Top CEOs and officials from the energy sector are participating in the INDIA ENERGY FORUM – CERAWeeK in New Delhi. At the event, Union petrol minister Dharmendra Pradhan said, “India will remain one of the fastest growing energy markets in the world in the coming two decades. Both on account of increasing access and better life styles, there will be growth in per capita energy consumption. We will be an influential buyer in the global energy market.”
     
    Zer0reZ and Som Thomas like this.
  12. Butter Chicken

    Butter Chicken Lieutenant FULL MEMBER

    Joined:
    Oct 31, 2016
    Messages:
    935
    Likes Received:
    1,477
    Country Flag:
    India
    Dassault plans business-jet manufacturing in India on Modi's push

    Dassault Aviation SA, the French maker of Rafale fighter jets, may build its business aircraft in India, in a boost to Prime Minister Narendra Modi's push to encourage local manufacturing.

    Building the Falcon planes in India would cut costs while ensuring quality and execution that meets standards, Chief Executive Officer Eric Trappier said in an interview on the sidelines of the National Business Aviation Association's annual conference in Las Vegas. The move will also give the company a competitive edge, he said, without elaborating.


    "We really want to do something which is a real industrial cooperation in India," Trappier said. "We are starting a big partnership."


    Should Dassault start manufacturing the Falcon 2000 locally, it would provide a fillip to Modi's flagship "Make in India" program that aims to lure foreign companies and create Indian jobs, one of his key campaign platforms. Lagging behind China in manufacturing for decades, the $2.3 trillion economy is trying to narrow the gap with its giant neighbor, which successfully tested its first home-made commercial passenger jet this year.
     
    Som Thomas and Agent_47 like this.
  13. Som Thomas

    Som Thomas 2nd Lieutant FULL MEMBER

    Joined:
    Nov 16, 2016
    Messages:
    126
    Likes Received:
    233
    Country Flag:
    India
    Volvo starts local assembly of its cars in India
    Volvo has started assembling premium SUV XC90, and has plans to assemble more models, including S90 sedan, says Charles Frump, managing director of India operations
    Aarushi Kotecha
    [​IMG]
    Volvo sell trucks, buses, and construction equipment.

    Mumbai: Volvo Auto India Pvt. Ltd has commenced local assembly operations of its models in India, the India arm of the Swedish luxury carmaker said on Tuesday.

    It has started assembling the XC90, a premium SUV, and has plans to assemble more models, including the S90 sedan and XC 60 SUV, Charles Frump, the newly appointed managing director of India operations said in an interview.

    Frump hopes the local assembly will help drive volume growth and will help the company double its market share to 10% in the luxury car segment by 2020.

    Volvo currently sells nine models in India, including sports sedan Volvo S60, performance sedan Volvo S60 Polestar, premium sedan Volvo S60 Cross Country and luxury hatchback Volvo V40. Even though it has been selling cars in India for seven years, unlike German rivals Mercedes Benz AG, BMW AG and Audi AG, Volvo has been importing them instead of assembling them locally.

    India levies a duty of 120% on imported cars, and 60% on completely knocked down kits. But Volvo is unlikely to cut prices of models even after the local assembly. “There will be no change in prices,” said Frump, adding that buyers will benefit in terms of faster delivery of models as they will no longer be required to be imported from Sweden. “Even as a CBU the models are reasonably priced. Moreover, the prices are determined by the market forces and not where it is assembled,” he said.

    He declined to comment on the investment or the capacity of the new unit it shares with other Volvo group companies which sell trucks, buses, and construction equipment.

    Volvo sold 2,000 cars in the first nine months of the current calendar year, up 25% over a year ago. In a bid to make deeper inroads in a market that accounts for less than 2% in the broader passenger vehicle market, Volvo plans to add 10 more dealerships taking it up to 30 in the next couple of years, said Frump.

    IHS Markit, a sales forecasting and market research firm, estimates the luxury segment to expand by more than 10% in 2017, the fastest in three years, and 42% and 21% in 2018 and 2019, respectively.

    In July this year, Volvo announced that globally, all new cars launched by Volvo from 2019 onwards will be partially or completely battery-powered. Frump said the company’s India strategy is in line with the Indian government’s electric mobility mission plan, which envisages to make India an all-electric vehicle market by 2032.

    http://www.livemint.com/Industry/ij...arts-local-assembly-of-its-cars-in-India.html
     
  14. The enlightened

    The enlightened Lieutenant FULL MEMBER

    Joined:
    Mar 11, 2012
    Messages:
    452
    Likes Received:
    235
    Som Thomas likes this.
  15. Paliwal Warrior

    Paliwal Warrior Lt. Colonel ELITE MEMBER

    Joined:
    Aug 4, 2013
    Messages:
    6,170
    Likes Received:
    901
    But wasn't there a conspiracy by imf world Bank foreign trained economists to destroy Indian economy by making it follow their dictated policy ?

    Or

    That argument is for when it's suitable & convinient
     

Share This Page