The rural unemployment rate has remained above 7% for most of the months in the current fiscal year, according to data from the Centre for Monitoring Indian Economy (CMIE), a private think-tank. India may increase rural spending by nearly 50% to 2 trillion rupees ($24.51 billion) next fiscal year, a source familiar with the matter… Continue reading India may boost rural spending next year to spur jobs, housing
Author: Economic Times of India Online News
Key meet to decide on adopting EV policy in Uttar Pradesh
The government is coordinating with NITI Aayog and Asian Development Bank (ADB) to finalise a comprehensive electric mobility plan for Lucknow and it is expected to go green before other cities in the state. The state government will be holding a key meeting this week to decide on adopting UP Electric Vehicle Manufacturing and Mobility… Continue reading Key meet to decide on adopting EV policy in Uttar Pradesh
FY24 to be inflection point for surge in PLI CAPEX deployment: ICRA
ICRA has recently published its third report in the PLI series, capturing the PLI scheme progress and CAPEX deployment over the years. The bulk of the Production Linked Incentive (PLI) CAPEX that companies have to put in will be concentrated between FY24 and FY26 as most of the major sectors start manufacturing activities from FY24.… Continue reading FY24 to be inflection point for surge in PLI CAPEX deployment: ICRA
Dollar tentative as investors await Fed minutes
SINGAPORE – The U.S. dollar was steady on Wednesday as investors tempered their risk appetites ahead of the release of minutes of the Federal Reserve‘s policy meeting that could offer clues on the outlook for inflation and interest rates. The Fed on Wednesday will release the minutes from its most recent meeting, with investors looking… Continue reading Dollar tentative as investors await Fed minutes
Audio Interview: The key factors of growth of the Canadian EV and automotive industry
In this Audio Interview, Ron Hesse speaks with Flavio Volpe, who is President of APMA – The Canadian Automotive Parts Manufacturers‘ Association. He is an internationally recognized champion of Canada’s automotive industry. He proudly leads the APMA – representing OE suppliers to the worldwide automotive industry. Working closely with officials in Ottawa, Washington and Mexico… Continue reading Audio Interview: The key factors of growth of the Canadian EV and automotive industry
iVOOMi introduces new variants of electric two-wheeler with increased speed
The S1 240 e-scooter delivers a range of 240 km, has a twin battery pack of 4.2 kWh, and is powered by a 2.5 kW motor for extra torque. New Delhi: EV company iVOOMi Energy has introduced new variants of e-scooters for its model S1 with increased speed for consumers in India. Starting at Rs… Continue reading iVOOMi introduces new variants of electric two-wheeler with increased speed
Global growth to slow amid ‘persistent’ high inflation: OECD
Fighting inflation is a “top policy priority”, the OECD said, as soaring prices erode people’s purchasing power worldwide. World growth is set to slide from 3.1 percent this year to 2.2 percent next year due to high inflation, before rebounding slightly to 2.7 percent in 2024, the OECD said Tuesday. Amid the effects of Russia’s… Continue reading Global growth to slow amid ‘persistent’ high inflation: OECD
Micro Mobility player Helbiz to reduce staff by 15% in US, Europe
Helbiz will search for partners to share or take over the operation of the Media business to reduce them as on-going cost centres and return focus entirely on mobility business. New Delhi: Micro Mobility services provider recently announced that it will undertake several measures to reduce costs and staff to lower the monthly burn rate… Continue reading Micro Mobility player Helbiz to reduce staff by 15% in US, Europe
Infra sector demands rationalisation of GST, easier bank credit, hike in public expenditure
They also pitched for government support to the EV companies for reskilling the workforce. New Delhi: The infrastructure industry on Monday demanded rationalisation of Goods and Services Tax (GST), easier bank credit and a hike in public expenditure at the customary pre-budget meeting with Finance Minister Nirmala Sitharaman. Cellular Operators’ Association of India (COAI) in… Continue reading Infra sector demands rationalisation of GST, easier bank credit, hike in public expenditure
100% road tax exemption for EVs may be extended till 2025
Against this backdrop, the transport department has proposed to extend the tax-waiver until 2025 for personal cars and two-wheelers. CHENNAI: The state transport department has proposed to extend 100% road tax exemption for electric vehicles (EVs) for another three years. If approved, EVs will continue to cost 8% less. To promote sales of battery-operated vehicles,… Continue reading 100% road tax exemption for EVs may be extended till 2025