PM Narendra Modi is trying so hard to woo investors in food processing; here is why
Given the tens of thousand crore rupees farmers lose each year due to waste in fruits and vegetables, the wide disparity between Mandi and retail prices and the tremendous value addition that is possible—just look at the difference between the price of tomatoes and ketchup—it is not surprising that Prime Minister Narendra Modi is trying so hard to woo investors in food processing.
Paradise Papers: Why it is difficult to hide shady corporate, political dealings
When a trove of 13.4 million records, many from offshore services firms whose job was to structure and facilitate shadowy deals via tax havens and layers of front companies, expose dealings that include president Donald Trump’s son-in-law Jared Kushner, US commerce secretary Wilbur Ross, the Queen of England, it is obvious life will never be the same for for the world’s rich and famous—both people and companies.
Maruti Suzuki Ciaz sales hit big hurdle; reason is a big surprise
Sales of Maruti Suzuki’s mid-size sedan Ciaz seem to have come under pressure with 43% tax (28% GST plus 15% cess) getting levied on hybrid cars. Launched in 2014, Maruti unleashed Ciaz’s mild hybrid variant last year, which attracted just 12.5% excise duty compared to a 28% on any other car in the segment. Hence, Ciaz became most popular choice of customers in the segment.
Drones coming? Amazon India arm Amazon Technologies gets Rs 130 cr from US parent
The logistics arm of Amazon India, Amazon Transportation Services, has secured Rs 130 crore (about $20 million) from its US-based parent, according to documents filed recently with the registrar of companies (RoC). The infusion assumes significance as it comes close on the heels of the Directorate General of Civil Aviation (DGCA) inviting public comments on the draft rules on use of drones, including for commercial purposes, which the aviation regulator hopes to finalise by the year-end.
PSB recapitalisation: Narendra Modi government set to dictate terms to even the strongest lenders
The government is considering making fresh capital infusion into public-sector banks (PSBs) under the recently announced Rs 2.11-lakh crore plan conditional for both weak and relatively strong banks. a senior official told FE. So, less than a dozen of the 21 PSBs will have to sign agreements with the government, spelling out road map on efficient management of bad loans and strict turnaround and austerity plans, if they want fresh capital, said the official.