Aviation regulator DGCA will examine documents submitted by Go First related to the revival plan and will also conduct an audit on operational preparedness before allowing the carrier to restart operations, sources said on Wednesday. Senior representatives of the current management of Go First, which has stopped flying since May 3, discussed various aspects of the revival plan with officials of the Directorate General of Civil Aviation (DGCA) in the national capital on Wednesday, they said.
The World Bank will provide USD 200 million (about Rs 1,600 crore loan) to finance the Himachal Power Sector Development Program to bring improvements in renewable energy integration in the state, Chief Minister Sukhvinder Singh Sukhu said on Wednesday. With the addition of state equity, the total outlay for the programme would be Rs 2,000 crore and the World Bank funding is expected to be available by August 2023 for a duration of five years up to 2028, he said in a statement issued here.
Moderate to heavy rains continue to lash parts of Himachal Pradesh on Wednesday, triggering landslides and leading to closure of over 100 roads across the state. As many as 127 roads were closed, out of which 90 are expected to be opened by Wednesday night, officials said. The cumulative losses due to rain-related incidents since the onset of monsoon on June 24 is estimated to be Rs 219.29 crore.
The GST officers have busted a nexus of more than 30 fake firms, who have availed ineligible input tax credit (ITC) of over Rs 50 crore, the finance ministry said on Wednesday. In an ongoing two-month-long special drive against fake registration, the Central GST Delhi West Commissionerate found multiple entities registered on the same address. During investigation, it was found that the said address was existent but the owner of the premises denied any knowledge about the existence of any firm.
Nvidia expects no immediate material impact from the reported new restrictions on exports of artificial intelligence chips to China, CNBC reported on Wednesday citing CFO Colette Kress. Shares of the company pared losses and were flat in afternoon trading. The U.S. Commerce Department will stop the shipments of chips made by Nvidia and other chip companies to customers in China as early as July, the Wall Street Journal reported on Tuesday.
His appointment has been approved by Congress president Mallikarjun Kharge
Prime Minister Shehbaz Sharif on Wednesday constituted a high-level committee to restructure and revive the cash-strapped country's national carrier, Pakistan International Airlines (PIA). The committee, headed by Finance Minister Ishaq Dar, would present its proposals and recommendations to the federal Cabinet. The committee would deliberate on the different options for the restructuring and revival of the PIA.
The Finance Ministry saidthat there will be no change in the rate of TCS for all purposes under LRS and for overseas travel tour packages, regardless of mode of payment, for amounts up to Rs 7 lakh per individual per annum.It has also been decided to give more time for the implementation of the revised TCS rates and for inclusion of credit card payments in LRS.
India's markets regulator on Wednesday strengthened disclosure requirements for a set of "high-risk" offshore funds investing in local markets. Offshore funds that have more than 50% of their assets under management invested in a single group of companies and those that have more than 250 billion rupees ($3 billion) invested in Indian equity markets would need to disclose all its investors, SEBI said. Funds owned by the government, sovereign wealth funds, pension funds and public retail funds will be exempted.
"India's first chip (semiconductor) manufacturing plant will be set up in Sanand (Gujarat) by Micron Technologies," says Union Minister Ashwini Vaishnaw.
External Affairs Minister Dr S Jaishankar said: “They seem driven by vote-bank politics. Their responses have been constrained by what they regard as vote bank compulsions. If there are activities in Canada that impinge on our national security and integrity, then we will have to respond. You can see that this has impacted our ties in many ways in the last few years...”
