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The Duty Drawback Scheme (DBK) is a key programme to help exporters offset some of the costs accrued during the export process, particularly in supply or value chain. The key benefit of the scheme is that it gives rebates on Customs and Central Excise chargeable on any imported or excisable materials used in the manufacture of goods meant for export. The scheme,...

Union Civil Aviation Minister Jyotiraditya Scindia on Wednesday demanded a reduction in VAT on the aviation turbine fuel in Madhya Pradesh to attract more flights and improve air connectivity in the state. He was addressing a function virtually from New Delhi for the launch of IndiGo's Gwalior-Indore flight and re-starting of the Indore-Dubai flight. "I have...

Statistician Pronab Sen analyses the Q1 GDP data. Edited excerpts from his interview to ET Now's Tamanna Inamdar: Tamanna Inamdar: Some are saying 20.1% GDP growth is good, some are calling it great and some are saying it's really nothing much. What is your take?Pronab Sen: At the end of the day, what matters is how much income people in the country have. Essentially,...

Air pollution is likely to reduce the life expectancy of about 40% of Indians by more than nine years, according to a report released by a U.S. research group on Wednesday.More than 480 million people living in the vast swathes of central, eastern and northern India, including the capital, New Delhi, endure significantly high pollution levels, said the report...

There is a growing number of companies offering gender-neutral parental leave which encourages men to share child-care duties with partners. While that’s a progressive way of ensuring an equitable balance not only within the organisation but also in personal lives of individuals and the society at large, the moot question is how many men really take such leave?While...

High premiums are a big reason why many people did not get a home insurance policy. Which is why in January 2021, the Insurance Regulatory and Development Authority of India (IRDAI) issued guidelines for the issuance of a standard house insurance policy called Bharat Griha Raksha (BGR) meant to cover residential properties at affordable premiums. The insurance...

Chinese pupils returned to school Wednesday with new textbooks peppered with "Xi Jinping thought", as the Communist Party aims to extend his personality cult to children as young as seven and rear a new generation of patriots.The education ministry has said it will incorporate Xi's vaguely defined political ideology into the national curriculum, from primary...

In the last 18-24 months, the midcaps were outperforming now. In the last one, one and a month, interest in largecaps have helped the index move past 17,000, says Siddhartha Khemka, Head of Retail Research, MOFSL. What a rally we have seen as the Nifty surged from 16,000 to 17,000. What is on your radar as we try and move to 18,000?Yes, it has been a historical...

Banks and other financial institutions have started performing. Banks make 30% of the index and when they perform, we see this kind of euphoria, says Daljeet Singh Kohli, CIO, Stockaxis.com. What are you making of this roaring bull market? What can stall it and what is going to push it forward?There is nothing to worry about as of now. The market has been able...

Investors looking for core international equity allocation can consider the passive new fund offer (NFO) of Mirae Asset S&P 500 Top 50 ETF or its Fund of Fund (FoF). Given the sharp run-up in equities and the rich valuations, investors could stagger their investments through a systematic investment plan (SIP) over the next one year.The S&P 500 Top 50...

China, which along with Russia abstained from voting on the UN Security Council Afghanistan resolution on Monday, made it clear in its explanation to the 15-member body that it had “huge doubts about the necessity and urgency of adopting this resolution and the balance of its content”.Also, China told the Council that it was necessary for the international community...

The torrential rain in the parts of Maharashtra has affected the normal life of the people on Wednesday and led flood-like situation in Jalgaon district where houses and roads are submerged.The torrential rains caused extensive waterlogging in Jalgaon and houses and roads were submerged in several areas of the district. Various areas were submerged in Jalgaon,...

IDFC mutual fund earned the respect of debt investors by the way they handled the situation after the crisis in the debt market. Shivani Bazaz of ET Mutual Fund spoke to Suyash Chaudhary, head - fixed income at IDFC AMC, to find out how the fund house managed to win the trust of investors. Edited Interview.IDFC Mutual Fund gained huge respect among debt investors...

Multinational companies as well as Indian firms across sectors, including retail, manufacturing, insurance and healthcare, will collaborate with rivals by 2025, a study by the TCS Thought Leadership Institute showed.The institute conducted a survey of 1,200 CEOs and senior executives across North America, UK, Europe, APAC and Latin America.Out of the surveyed...

Chief economic advisor KV Subramanian has said the country’s macroeconomic fundamentals are strong and the tapering of monetary stimulus by the US Federal Reserve should not be a concern.“When macro fundamentals of a country are not very inspiring, that’s when the impact (of tapering) is felt much more. Fact that economic fundamentals – current account deficit,...

The government has extended Vedanta's contract for the prolific Rajasthan oilfield by a further three months, and not by 10 years that the company has been seeking, pending settlement of a dispute over $520 million cost recovery. The original 25-year production sharing contract for the Barmer block in Rajasthan ended in May last year and the government has since...

The UK has said that it is "ready" to launch strikes at the ISIS-K terror network in Afghanistan after the Pentagon revealed that there are at least 2,000 fighters of the outfit in the war-torn country.The Islamic State's Afghanistan affiliate, dubbed Islamic State Khorasan or ISIS-K, had claimed responsibility for the deadly twin blasts at the Hamid Karzai...

India’s top two telcos Reliance Jio and Bharti Airtel have unleashed smart marketing moves to grab higher paying mobile broadband users from struggling Vodafone Idea (Vi) even as the latter continues to cede market share to its stronger rivals.Airtel is relaunching an earlier co-branding pact with PepsiCo India, under which prepaid users will get up to 2GB of...

Indian banks are again allowing purchase of Bitcoin and other cryptocurrencies through their channels, easing curbs that they had imposed on such services.The change in stance happened after the Reserve Bank of India told banks that they no longer can use the regulator’s 2018 circular prohibiting dealings in virtual currencies, as the direction has been struck...

Everybody's going carbon neutral these days, from the big boys - Amazon, Microsoft, Unilever, Starbucks, JetBlue - to your favorite outdoor brand, even ski resorts. Probably your neighborhood coffee roaster, too.What's not to like? Becoming carbon neutral means cutting greenhouse gas emissions as much as you can, then offsetting what you can't avoid with measures...

The Enforcement Case Information Report (ECIR), an Enforcement Directorate document which is widely seen as similar to the police first information report, is “just a name” given to an internal document only “for the purpose of identification” of a case, the federal agency has told the Delhi High Court.The ED that probes money-laundering cases said “nothing...

The Taliban revelled in their victory after the American withdrawal from Afghanistan, reiterating their pledge Tuesday to bring peace and security to the country after decades of war. Their anxious citizens, meanwhile, are waiting to see what the new order looks like. Having humbled the world's most powerful military, the Taliban now face the challenge of governing...

The sun had just begun to rise over the Hindu Kush Mountains when the Taliban disappeared from Kabul, the battered capital of Afghanistan. The bodies of foreign Arabs who had stayed behind were mutilated and bloodied. They had been found and killed by advancing Afghans of another faction who were brought to the city by a blistering U.S.-led campaign that drove...

India’s antitrust regulator has reached out to independent sellers as part of its probe against ecommerce firms Amazon India and Flipkart, sources aware of the matter said.This is part of the Competition Commission of India’s (CCI) ongoing investigation against the e-tailers over issues like deep discounting and preferential treatment of select sellers. In its...

It is a good time to take away some profit from the small and midcaps and focus on the largecaps and largish midcaps, says Nischal Maheshwari, CEO, Centrum -Institutional Equities. This is not going to be a market where one can simply bet on the index. It is going to be about finding individual stocks that have the potential of moving. It is going to be a market...

China has used big data to trace and control the outbreak of COVID-19. This has involved a significant endeavour to build new technologies and expand its already extensive surveillance infrastructure across the country. In our recent study, we show how the State Council, the highest administrative government unit in China, plans to retain some of those new capabilities...