The government yesterday approved a Production-Linked Incentive (PLI) scheme for ten key sectors, including telecom, automobiles and pharmaceuticals, taking the total outlay for such incentives to nearly Rs 2 trillion over a five-year period. The scheme will help encourage domestic manufacturing, reduce imports and generate employment as the government works to bolster economic growth. The financial outlay for the new scheme will be Rs 1,45,980 crore.

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India has initiated a probe into an alleged increase in imports of certain steel flat products into the country following a complaint from the Indian Steel Association, according to a government notification.
The Directorate General of Trade Remedies (DGTR), under the commerce ministry, has started the investigation into imports of 'Non-Alloy and Alloy Steel Flat Products', used in various industries, including fabrication, pipe making, construction, capital goods, auto, tractors, bicycles, and electrical panels.
According to the notification of the DGTR, the Indian Steel Association, on behalf of its members - ArcelorMittal Nippon Steel India, AMNS Khopoli, JSW Steel, JSW Steel Coated Products, Bhushan Power & Steel, Jindal Steel and Power, Steel Authority of India - has filed an application under the customs tariff Act, 1975.
They have sought imposition of safeguard duty on imports of these products into India.
The applicant has alleged that there is a "recent, sudden, sharp and

As part of the investigation, the directorate would determine whether unforeseen developments have resulted in a sudden, sharp and significant increase in imports in recent periods

Till date, Namma Yatri said it has generated over Rs 1,100 crore in driver earnings, improving their financial stability and livelihoods

As India experiences rapid economic growth, the need to
decouple carbon emissions from economic expansion by leveraging technology has become increasingly urgent, according to Hisham Mundol, the Chief Advisor for the Environmental Defense Fund (EDF) in India.
In an interview with PTI, Mundol stressed the transformative role technological innovation can play in achieving sustainable development while addressing the challenges posed by climate change.
India, the world's fifth-largest economy, is currently undergoing a period of swift industrialisation and economic expansion.
Its Gross Domestic Product (GDP) has consistently grown at rates that position it as one of the fastest-growing major economies. However, this rapid progress comes with a surge in energy demand, predominantly fuelled by coal and other fossil fuels.
Although India's historical contribution to global carbon emissions remains modest  -- at just 4 per cent -- its future emissions trajectory is under global ...

India, the world's fifth-largest economy, is currently undergoing a period of swift industrialisation and economic expansion

The orders for three tunnel boring machines to carry out about 21 km under sea tunneling for the Bullet Train project have been placed, the government informed the Rajya Sabha in a written reply on Friday while updating the status of infrastructure projects in Maharashtra.
Construction works on the flagship high speed bullet train project have gathered momentum in Maharashtra. Now 100% land acquisition has been completed. Works of bridges, aqueducts etc. have been taken up, Railway Minister Ashwini Vaishnaw said.
Meanwhile, all preparatory works required for the working of TBMs (tunnel boring machines) such as construction of shafts etc. have also been taken up, he added.
Shiv Sena (UBT) MP Sanjay Raut wanted to know whether the government has reduced funding for new railway lines in Maharashtra in recent years, the critical rail projects which have been delayed due to reduction in funding and the steps taken by the government to mitigate potential delays in railway projects to ensu

Construction works on the flagship high speed bullet train project have gathered momentum in Maharashtra

They also support a rate cut to avoid the risk of sharp currency appreciation if India does not normalise interest rates when most other global central banks have already embarked on an easing cycle

The official further noted that this year's Budget consultations are particularly significant due to the political outcomes of recent state elections

Stakeholders from the micro, small and medium enterprises (MSME) sought a reduction in GST, technology upgrade, and production-linked incentive scheme benefits for various segments in a pre-Budget meeting with Finance Minister Nirmala Sitharaman on Saturday.
The meeting aimed to seek inputs and suggestions for the Budget for 2025-26, expected to be presented on February 1.
Members from the Association of Women Entrepreneurs of Karnataka (AWAKE); Karnataka SC and ST Entrepreneurs' Association; Plant-Based Food Industry Association (PBFIA); Ambala Scientific Instruments Manufacturers' Association (ASIMA); Rajasthan Footwear Manufacturers' Association were among the participants at the meeting.
The All-India Plastics Manufacturers' Association; All India Manufacturers' Association; Gujarat Chamber of Small Industries Association; Federation of Associations of Cottage and Small Industries (based in West Bengal); Federation of Andhra Pradesh Small and Medium Association; and Laghu Udyog 

The meeting aimed to seek inputs and suggestions for the Budget for 2025-26, expected to be presented on February 1

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PLI scheme explained: Modi govt's subsidy plan to boost local manufacturing

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