Latest news with #Rs99
Hans India
16-07-2025
- Business
- Hans India
ELI scheme next step after PLI: Minister
New Delhi: The employment-linked incentive (ELI) scheme represents the second step after the production-linked incentive (PLI) scheme in the direction of building an Atmanirbhar Bharat, Labour Minister Dr Mansukh Mandaviya has stressed. The ELI scheme will provide financial support to employers, enabling them to generate additional employment, particularly for the minister described the initiative as a win-win for both employers and job a total outlay of Rs99,446 crore, the ELI scheme aims to create over 3.5 crore jobs across the country over a two-year period. During a high-level virtual meeting of state labour ministers and state industry ministers, he cited KLEMS data, published by the Reserve Bank of India (RBI), highlighting that over 17 crore employment opportunities were generated during the last decade, according to a Ministry of Labour and Employment statement. This, he noted, is a reflection of the significant economic progress made by the country, particularly driven by robust growth in sectors such as construction, manufacturing, and services. DrMandaviyaemphasised that this momentum must be sustained and further accelerated through schemes like ELI, which are designed to create quality jobs, deepen formalisation, and support inclusive development. 'Labour and industry are two sides of the same coin,' the Minister said, adding that both must work in close coordination for the greater good of the nation's workforce and economy. He assured participants that procedural formalities under the scheme have been kept simple to ensure ease of access and encourage wide participation. The Union Minister also urged state ministers to actively promote the scheme through media briefings, television and radio interviews, and other outreach platforms.
Business Recorder
08-07-2025
- Business
- Business Recorder
FBR, IB recovers Rs178bn in crackdown on evaders since April 2022
ISLAMABAD: The Federal Board of Revenue (FBR) and the Intelligence Bureau (IB) on Monday claimed to have recovered a hefty Rs178 billion in a high-octane crackdown targeting tax evaders and hoarders since April 2022. This was revealed in a report presented to Prime Minister Shehbaz Sharif by the top tax-collecting agency, the FBR, and the IB, a civilian spy agency, detailing recoveries. A statement issued by the Prime Minister's Office said that since April 2022, more than 13,000 raids have targeted key sectors notorious for illegal stockpiling, including sugar, fertiliser, and wheat. These raids unearthed goods worth over Rs99 billion that had been hidden from the market, striking a blow to black-market profiteers, it added. In a dramatic push, an additional 515 raids targeted industries such as beverages, edible oil, tobacco, cement, and animal feed – sectors often accused of skirting tax obligations. The crackdown led to an increase of Rs69 billion in tax revenue through merger of companies and recovery of outstanding dues in the lucrative telecommunications sector. Another Rs10.5 billion was collected by nipping tax evasion attempts in the bud. Prime Minister Shehbaz Sharif praised the joint FBR-IB operations, calling their teamwork 'crucial' to strengthening Pakistan's fragile economic base. He warned that without continued cooperation among government agencies, the country's economic stability and citizens' welfare could be at risk. 'Pakistan's future depends on institutions working shoulder to shoulder,' Sharif said, urging all arms of the government to maintain pressure for sustained growth and improved living standards. Copyright Business Recorder, 2025
Hans India
25-06-2025
- Business
- Hans India
Gold declines Rs 900, Silver falls by Rs 1,000
New Delhi: Gold prices plummeted Rs900 to Rs98,900 per 10 grams in the national capital on Tuesday as the expectations of a ceasefire between Iran and Israel reduced the precious metal's safe-haven appeal in the global to the All India Sarafa Association, the precious metal of 99.9 per cent purity had closed at Rs99,800 per 10 grams in the previous market session. Gold of 99.5 per cent purity depreciated by Rs800 to Rs98,300 per 10 grams. It had finished at Rs99,100 per 10 grams on Monday. 'Gold is under pressure as safe-haven demand eases after the US confirmed a full ceasefire between Iran and Israel. The announcement came shortly after Iran attacked a US military base in Qatar, briefly heightening tensions before quickly calming them.
Hans India
17-06-2025
- Automotive
- Hans India
Mercedes-Benz may again hike price in Sept
Chennai: German-luxury car brand Mercedes-Benz India has indicated a further price increase for its cars from September, citing adverse fluctuation of Euro against the Indian Rupee, a top official said here on Monday. The company already revised its prices by 1.5 per cent, each in January and June this year, Mercedes-Benz India Managing Director and CEO Santosh Iyer said. 'If you see, yesterday night, one Euro is equal to Rs99 and it is the first time that Euro has breached the Rs98 mark. We had priced our cars (when One EURO) was at Rs89-90. With Euro going up, even though we localise more than 30 per cent of our cars, 70 per cent of the cars still have European content and when the EURO goes up (against Rupee), the price (of Mercedes-Benz range of cars) will go up,' he told reporters. He noted that Mercedes-Benz has already effected a price increase of its cars twice in 2025, in January and June. Up to 1.5 per cent was the increase in hike. 'And the third one (increase in price) equal to 1.5 per cent will come in September, because we cannot pass this in one go and we are doing it in phase wise,' he said. Despite the proposal to increase the price of cars, Iyer sounded optimistic on retail sales with the Reserve Bank of India announcing interest rate cuts twice this year. 'We have non-banking finance company, Mercedes-Benz Finance and this arm has also reduced the interest rates. About 80 per cent of our cars are financed and today, if you look at June, the price of cars (of Mercedes-Benz) has gone up. But the EMIs remain the same.' he said. He added that the interest rate cuts announced by the Reserve Bank is helping the sales of Mercedes-Benz range of cars for sure.
Hans India
13-06-2025
- Business
- Hans India
Gold jumps Rs 850; silver slips Rs 100
New Delhi: Gold prices jumped Rs850 to Rs99,340 per 10 grams in the national capital on Thursday amid a rise in precious metal prices in the overseas markets, according to the All India Sarafa yellow metal of 99.5 per cent purity climbed Rs800 to Rs98,800 per 10 grams . However, silver prices went lower by Rs100 to Rs1,07,000 per kilogram on Thursday. The most traded gold contracts for August delivery bounced by Rs1,585 to trade at Rs98,289 per 10 grams. Subsequently, the contracts for October delivery rallied Rs1,520 to Rs99,214 per 10 grams on the Multi Commodity Exchange (MCX). 'Gold prices surged higher on Thursday as escalating US-Iran tensions reignited safe-haven demand and weaker-than-expected US inflation data bolstered bets of interest rate cuts from the Federal Reserve,' Sriram Iyer, Senior Research Analyst at Reliance Securities, said. Meanwhile, spot gold increased by $15.74 per ounce or 0.47 per cent to $3,370.87 per ounce in the international markets.
