Govt to set up skill centre at Aurangabad industrial area in Maharashtra
Commerce and Industry Ministry
on Sunday said a 20,000 sq ft
skill development centre
will be set up at the
Aurangabad
Industrial City (AURIC) in
Maharashtra
.
It will be established in partnership with the
Confederation of Indian Industry
, and a
memorandum of understanding
(
MoU
) in this regard is likely to be signed next week.
Amardeep Singh Bhatia, Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), has emphasised the need to attract
Global Capability Centre
(
GCC
) and Research and Development (R&D) centres at AURIC to further enhance the region's innovation and industrial ecosystem.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
5 hours ago
- Economic Times
Cut income tax by Rs 29,000 under new tax regime: How Gurugram-based Kumar can reduce tax to only 6.9% of income
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads WRITE TO US FOR HELP (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of .) Gurugram-based Karan Kumar is a sales manager and doesn't pay a very high tax because his income is modest. He has opted for the new tax regime , which is a good decision as he does not claim too many tax deductions. Even if his company rejigs his pay structure to include some of the tax-friendly perks, he will still pay a higher tax in the old the new tax regime, there are no tax deductions and exemptions, but the standard deduction is higher at Rs.75,000 and the tax slabs are wider, with lower rates. Sudhir Kaushik of TaxSpanner believes that there is room for further tax savings in the new regime if Kumar asks his employer to offer the NPS Section 80CCD(2), up to 14% of the basic salary allocated to the NPS by the employer is tax-free. If his company puts 14% of his basic income in the NPS, the monthly contribution will be Rs.11,666, and the annual contribution of Rs.1.4 lakh will cut his tax by around Rs.29, contribution to the NPS will reduce his monthly take-home salary. However, it will not affect his overall liquidity if he reduces the contribution to the Public Provident Fund. Right now, Kumar puts Rs.1.5 lakh in the PPF each year, which does not fetch any tax benefit under the new tax regime. He should reduce this amount to Rs.10,000 a year and channelise the remaining Rs.1.4 lakh to the should also continue with his health and life insurance plan despite no tax benefits in the new too much tax? Write to us at etwealth@ with 'Optimise my tax' as the subject. Our experts will tell you how to reduce your tax by rejigging your pay and investments.
Time of India
5 hours ago
- Time of India
What is cost inflation index for LTCG tax calculation under income tax rules?
What is cost inflation index? What is it used for? Academy Empower your mind, elevate your skills 23 July 2024 relevance With each passing year, the cost of goods and services keeps increasing due to inflation . This reduces the purchasing power of money, which means that one can buy fewer things with the same amount of money. Cost inflation index is a tool, defined under Section 48 of the Income Tax Act, 1961, that helps measure the rise in cost due to inflation. It does so by assigning an index figure for each base year considered for the index is 2001-2, for which the figure is 100. All subsequent years' index figure is calculated with respect to 100. The Central Board of Direct Taxes (CBDT) notifies this figure each year and publishes it in the official gazette. For 2025-26, the CBDT has notified the CII figure as index is used in taxation to avail of the indexation benefit . This means that while calculating the long-term capital gains, the purchase price of assets is increased to keep it in line with inflation. This reduces the gains and, thereby, the tax instance, if you bought a house in 2003 for Rs.5 lakh and sold it in 2022 for Rs.20 lakh, here's how you can calculate your long-term gain with and without indexation. For LTCG with indexation, you will first have to calculate the indexed cost of buying the property by using the following indexation benefit has been removed for all capital assets, except property, after 23 July 2024. For land or buildings purchased before 23 July 2024, one can choose from LTCG tax of 12.5% without indexation or 20% with indexation, but for property purchased after this date, only 12.5% tax will be levied without indexation.
Time of India
6 hours ago
- Time of India
Auric expansion: Industries seek mass rapid transport system, eway
Chhatrapati Sambhajinagar: The proposed expansion of the Aurangabad Industrial City (Auric) by an additional 10,000 acres has spurred industry leaders to demand critical infrastructure upgrades, including a mass rapid transport system (MRTS) and a greenfield expressway connecting Pune. These demands were presented during a discussion with Amardeep Singh Bhatia, secretary of the department for promotion of industry and internal trade (DPIIT), who visited AURIC on Saturday. Office-bearers from the Chamber of Marathwada Industries and Agriculture (CMIA) and other industry bodies also advocated for a dedicated logistics hub and the establishment of a national-level educational institution within Auric. U by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cách giao dịch ETH/USD mà không cần nắm giữ Ether IC Markets Tìm hiểu thêm Undo tsav Machhar, President of CMIA, emphasised the need for robust infrastructure to support AURIC's growth as a manufacturing hub. "Chhatrapati Sambhajinagar currently lacks an efficient public transport system. With AURIC poised to generate significant employment, a MRTS is essential to facilitate commuting between the city and the industrial hub. Such a system needs to be planned well in advance," he said. Machhar also emphasized on the urgency of constructing a Greenfield expressway linking the Shendra-Bidkin nodes of Auric with Pune. "The expressway would connect two major industrial hubs of Maharashtra. This will facilitate swift movement of both people and cargo," he added. The CMIA leaders said a logistics hub also needs to be set up on the Nagpur-Mumbai Samruddhi highway. "The Auric, Samruddhi highway, and upcoming dry port at Jalna are three main projects of a larger development plan envisaged by chief minister Devendra Fadnavis. This collective infrastructure needs to be augmented with the logistics hub," the CMIA said. Setting up an IIT, business school, or school of planning and architecture at AURIC, road connectivity covering Shendra-Bidkin-Waluj-Samruddhi expressway, and improved air connectivity for Chhatrapati Sambhajinagar are some of the demands the industry bodies put forth before the DPIIT secretary. While the Aurangabad Industrial City Auric) is a greenfield industrial smart city taking shape over 10,000 acres of area as a part of the Delhi-Mumbai Industrial Corridor (DMIC), the DPIIT secretary on Saturday announced an additional 10,000 acres of land for the expansion of the project.
