Asserting that the self reliant India programme will help revive the global economy, Prime Minister Narendra Modi on Thursday told global business community that his government aims to transform the country through access, inclusion and empowerment while also ensuring complete data security. Addressing the World Economic Forum s online Davos Agenda Summit, where he also interacted with global business leaders, Modi also said India offers a predictable and friendly environment from tax regime to FDI norms. He said Aatmanirbhar Bharat movement is committed to global good and global supply chain while the country s digital profile has been completely transformed. India is focussing on sustainable urbanisation with focus on ease of living, ease of doing business and climate sensitive development, he said.
Firms/companies > L > Larsen & Toubro
L&T Q3 net profit up 12.6% at Rs2,648 crore despite lower revenue
27 January 2021
Engineering and construction major Larsen & Toubro (L&T) has reported a 12.6 per cent increase in its fiscal third quarter net profit at Rs2,648 crore against Rs2,352 crore in the comparable quarter of the previous year.
Revenue for the quarter, however, was down 1.8 per cent at Rs35,596 crore compared with Rs36,424 crore in the same quarter in fiscal 2019-20, despite stronger than expected order inflows.
L&T reported order inflows of Rs73,233 crore during the quarter. However, the higher net profit for the quarter may also be attributed to higher other income, which rose 127 per cent to Rs1,065 crore against Rs469 crore in the previous year quarter.
Union Budget 2021: Auto industry optimistic about recovery from pandemic; expects cut in GST rates The removal of restrictions to avail the input tax credit of GST paid on automobiles for businesses would make vehicles more affordable when used for business purposes, besides fulfilling the basic intention of GST to eliminate cascading of taxes. Saurabh Agarwal January 27, 2021 06:34:08 IST Hyundai car factory. Image courtesy Wikimedia Commons
A rear-view reflection of Indian automotive sector shows the struggle and profound recession within the automotive industry for the last few years even before the pandemic outbreak. As the year 2021 unfolds, the Indian auto industry is optimistic to recover from the throes of the further downturn caused by COVID-19
Synopsis
The spillover effects of higher public investment would see a boost in demand, generate employment and develop the economy’s external competitiveness.
Chair, Institute for Competitiveness and visiting scholar, Stanford University, Contributor Content
Solution: The objective of this budget must be to step up spending through innovative means. The theme this year must revolve around public investment and an infra push.
The year 2021 has started on a positive note for India. As indigenous vaccinations drive the decline in coronavirus cases, it is expected that this will drive India towards the much-anticipated state of normalcy. Now from an economic standpoint, dipping cases must boost consumer confidence. This boost could further receive a well-timed stimulus from the upcoming budget. The Union Budget 2020-2021 has turned out to be the most high-profile and highly awaited.